Document:

First Amendment to Lease with Fremont Lake Union Center LLC, dated July 21, 2006

 Exhibit 10.22 
 FIRST AMENDMENT TO LEASE 
 THIS FIRST AMENDMENT TO LEASE (this
“Amendment”) is executed as of the 21 day of July, 2006, between FREMONT LAKE UNION CENTER LLC, a Delaware limited liability company (“Landlord”) and IMPINJ, INC., a Washington corporation
(“Tenant”). 
 RECITALS 
 A. Landlord and Tenant entered into an office lease dated as of November 14, 2004 (the “Lease”), pursuant to which Tenant leased from Landlord certain premises (the “Existing
Premises”) in the building (the “Building”) located at 701 North 34th Street, Seattle, Washington. Capitalized terms not otherwise defined herein shall have the meanings set forth in the Lease. 

B. Surreal Software Inc., a Washington corporation (“Surreal”) leases from Landlord that certain premises in the
Building consisting of approximately 16,750 square feet of Rentable Area (the “Expansion Premises”) pursuant to that certain Office Lease dated October 29, 2002 (the “Surreal Lease”). The term of the Surreal
Lease expires on March 31, 2008. 
 C. Concurrently with the execution of this Amendment, Surreal will assign to Tenant and
Tenant will assume the Surreal Lease pursuant to that certain Assignment and Assumption of Lease between Tenant and Surreal (the “Assignment”). 
 D. Landlord and Tenant presently desire to amend the Lease to include the Expansion Premises upon the expiration of the Surreal Lease. 

NOW, THEREFORE, in consideration of the foregoing, the parties hereto agree as follows, all effective as of the date of this Amendment
except as otherwise expressly set forth herein: 
 1. Expansion Premises. Commencing April 1, 2008, Landlord leases
to Tenant and Tenant leases from Landlord the Expansion Premises upon the terms and conditions set forth in the Lease (except as modified in this Amendment). Tenant will be obtaining possession of the Expansion Premises from Surreal. Accordingly,
Landlord shall have no obligation to deliver the Expansion Premises to Tenant and shall not be liable to Tenant for any damages resulting from Surreal’s failure to timely deliver the Expansion Premises to Tenant. 

2. Base Rent. Beginning April 1, 2008, Tenant shall pay to Landlord Base Rent for the Expansion Premises as follows:

  

					
	 April 1, 2008 to March 31, 2009:
	  	$	48,854.00/month	  
	 April 1, 2009 to August 31, 2010:
	  	$	50,250.00/month	  

 3. Additional
Rent. Following April 1, 2008, the amount of Additional Rent attributable to the Expansion Premises shall be computed using a base year of 2008. Tenant’s Pro Rata Share with respect to the Expansion Premises shall be 12.31%.

 4. Letters of Credit. Landlord is holding Letter of Credit No. 598382-41 in the
amount of $250,000 issued by Comerica Bank (the “Existing Letter of Credit”) pursuant to Article 6 of the Lease. The Existing Letter of Credit (i) shall secure payment and performance of lessee’s obligations under the
Lease and the Surreal Lease, and (ii) shall be administered and applied per Section E of the Addendum to the Lease. Upon the mutual execution and delivery of this Amendment, Tenant shall deliver to Landlord an additional irrevocable and
transferable letter of credit in the amount of $603,000 (the “New Letter of Credit”) running in favor of Landlord securing lessee’s obligations under the Lease and the Surreal Lease. The New Letter of Credit shall be issued
either by Comerica Bank, Silicon Valley Bank, or such other bank as may be acceptable to Landlord in its sole discretion and shall be administered and applied per this Section 4. The New Letter of Credit shall be irrevocable for the period
ending no less than one (1) year after the date of issuance. Tenant shall renew the New Letter of Credit and maintain it for the period ending on the later of either September 30, 2010, or thirty (30) days after the date Tenant shall
have vacated and surrendered the Existing Premises and Expansion Premises to Landlord in the condition required under the Lease and shall provide that it is automatically renewable for the term of the Lease unless the issuing bank delivers a notice
of non-renewal no later than thirty (30) days before expiration. If Tenant fails to renew the New Letter of Credit by the date that is ten (10) days prior to its expiration, Landlord may draw on the New Letter of Credit and maintain the
funds as a non-interest-bearing deposit to be returned to Tenant on receipt by Landlord of a substitute New Letter of Credit from Tenant. The form and terms of the New Letter of Credit shall be either substantially in the form of the Existing Letter
of Credit or in such other form as may be reasonably acceptable to Landlord and shall provide, among other thing, in effect that: 
 a. Draws. Landlord shall have the right to draw down an amount up to the then current face amount of the New Letter of Credit after a default by Tenant under the Lease or the Surreal Lease and
expiration of the applicable notice and cure period on presentation to the issuing bank of Landlord’s own declaration signed or purportedly signed by or on its behalf reading as follows: (i) that the declarant is an officer (or general
partner or sole proprietor in the case of a general partnership or sole proprietorship, respectively, or member in the case of a limited liability company) of the Landlord on behalf of the Landlord; (ii) that the declarant has authority to make
the declaration on behalf of the Landlord; (iii) that the declaration is made pursuant to the terms of the letter of credit number
                    ; (iv) that an event of default has occurred under the terms of a lease made between Landlord and Tenant; and
(v) that the amount of the event of default is $                    . In lieu of the declarations required in clauses (iv) and
(v) above, such declaration may state that Tenant under the terms of a lease made between Landlord and Tenant have failed to provide a substitute letter of credit. 
 b. No Inquiry. The New Letter of Credit will be honored by the issuing bank without inquiry as to the accuracy thereof and regardless of whether Tenant disputes the content of such statement.

 c. Transfer. In the event of a transfer of Landlord’s interest in the Building or the Property, Landlord shall
have the right to transfer the New Letter of Credit to the transferee, and it is agreed that the provisions hereof shall apply to every transfer or assignment of the New Letter of Credit to a new landlord. In the event of such a transfer, the
transfer will be accomplished by providing the issuing bank with the appropriate transfer form, the original of the New Letter of Credit, for endorsement and the appropriate notarized certification signed by Landlord. 

  
 -2-

 d. Restoration. If, as a result of any such application of all or any part of the
New Letter of Credit, Tenant shall immediately provide Landlord with an additional New Letter of Credit that meets the requirements of this Section 4, to cover the deficiency, or restore the amount available to be drawn under the New Letter of
Credit to the amount required herein on written notice from Landlord to Tenant. 
 e. No Encumbrance. Tenant shall not
assign or encumber the New Letter of Credit or any part thereof and that neither Landlord nor its successors or assigns will be bound by any such assignment, encumbrance, attempted assignment, or attempted encumbrance. 

f. Renewal. Without limiting the generality of the foregoing, if the New Letter of Credit expires earlier than as provided for
herein, or the issuing bank notifies Landlord that it shall not renew the New Letter of Credit, Landlord will accept a renewal thereof or substitute New Letter of Credit (such renewal or substitute letter of credit to be in effect not later than
twenty (20) days before the expiration thereof), which renewal or substitute letter of credit shall be irrevocable and automatically renewable, and issued by a bank meeting the requirements of this Section 4, for the entire period provided
for in this Section 4, on substantially the same terms as the expiring New Letter of Credit or such other terms as may be acceptable to Landlord. However, (i) if the New Letter of Credit is not timely renewed or a substitute letter of
credit is not timely received, or (ii) if Tenant fails to maintain the New Letter of Credit in the amount and terms set forth in this Section 4, then, at least twenty (20) days before the expiration of the New Letter of Credit, or
immediately on Tenant’s failure to comply with every term of this Section 4, Tenant shall deposit with Landlord cash security in the amounts required by, and to be held subject to the terms of this Section 4 (and the New Letter of
Credit will thereupon be returned to Tenant), failing which Landlord may present such New Letter of Credit to the bank, in accordance with the terms of this Section 4, and the entire sum secured thereby shall be paid to Landlord as a substitute
security deposit, to be held by Landlord in the manner provided for in this Section 4. 
 g. Reduction.
Notwithstanding anything herein to the contrary, (i) if Tenant provides Landlord with financial statements showing two (2) consecutive quarters of net cash flow from operations of more than $5,000,000 per quarter, then the amount of the
New Letter of Credit required hereunder shall be reduced to $452,250; and (ii) if Tenant provides Landlord with financial statements showing (A) cumulative net cash flow from operations of more than $30,000,000 for the previous four
(4) consecutive quarters, and (B) positive net cash flow from operations for the immediately preceding three (3) quarters, then the amount of the New Letter of Credit required hereunder shall be reduced to $150,750. All determinations
of Tenant’s net cash flow from operations shall be determined in accordance with GAAP. Each date on which the New Letter of Credit shall reduce in accordance with this Section 4.g. is referred to herein as a “Reduction
Date”. Notwithstanding the foregoing, if a default by Tenant under the Lease or the Surreal Lease (beyond any applicable notice and cure period) shall have occurred on or before any Reduction Date, or have occurred and be continuing as of
the applicable Reduction Date, and if the default is not cured within the applicable cure period, the required amount of the applicable New Letter of Credit shall not reduce on such Reduction Date and shall not thereafter

  
 -3-

 
reduce, and all scheduled future reductions shall be null and void. If Tenant is entitled to any such reduction, Landlord shall cooperate with Tenant upon Tenant’s request to replace or
amend the then existing Letter of Credit to reflect such reduced amount required hereunder. 
 5. Tenant Improvements.
Subject to the terms of the Work Letter attached as Exhibit 1 to this Amendment, following Tenant’s possession and occupancy of the Expansion Space, Landlord shall cause the Tenant Improvements to be constructed within the Expansion
Premises. 
 6. Parking. Subject to Tenant’s possession and occupancy of the Expansion Space, Tenant shall have the
right to use, on a first-come, first served basis, in common with other tenants and occupants of the Building and Complex, an additional thirty-five (35) parking stalls, located within the parking garage and on the Property (other than portions
of the garage and parking areas of the Building and Property set aside for Adobe Systems, Inc.) at current market rates (as reasonably determined by Landlord), in accordance with Section C of the Addendum to the Lease. Tenant and its officers
and employees shall have no right to use (and if requested by Landlord, Tenant shall prohibit the use by its officers and employees of) any of the visitor parking spaces or any other parking spaces in the Building or the Complex in excess of the
number allocated to Tenant hereunder. Beginning April 1, 2008, ten (10) of Tenant’s 35 additional parking stalls shall be reserved for Tenant’s exclusive use (collectively, together with the existing 48 exclusive stalls provided
for in the Lease, the “Exclusive Stalls”). Tenant shall at all times use reasonable efforts to ensure that Tenant’s employees use the Exclusive Stalls before using any of the remaining 25 non-exclusive stalls. 

7. Commissions. Tenant has been represented by Steve Schwartz of Pacific Real Estate Partners (“Broker”). Subject
to Landlord’s receipt of its portion of the consideration payable by Tenant under the Assignment, Landlord shall pay to Broker a commission of $40,479 with respect to this transaction per their separate agreement. Tenant represents and warrants
to Landlord that it has not had dealings with any real estate broker other than Broker, agent or salesperson with respect to this Amendment that would cause Landlord to have any liability for any commissions or other compensation to such broker,
agent or salesperson, and that no such broker, agent or salesperson has asserted any claim or right to any such commission or other compensation. Tenant shall defend and indemnify the other party and hold Landlord harmless from and against any and
all loss, cost, liability, damage and expense (including reasonable attorneys’ fees) whatsoever that may arise out of the breach of such representation and warranty. 
 8. Cross Default. During the remaining term of the Surreal Lease, a default by Tenant under the Surreal Lease beyond any applicable notice and cure period shall constitute an event of default under
the Lease. 
 9. Ratification. Except as modified herein, the Lease shall remain in full force and effect. 

[Signatures on following page] 

  
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 IN WITNESS WHEREOF, the parties have executed this document as of the date and year first
above written. 
 EXECUTED the day and year above written. 

 

			
	 LANDLORD:

	
	 FREMONT LAKE UNION CENTER LLC, a
 Delaware limited liability company

	  
 By: Metzler Realty Advisors,
Inc.,
 Authorized agent

			
		
	 By:
	 	 /s/ James L. Neal

			
		
	 Name:
	 	 James L. Neal

			
		
	 Title:
	 	
President

			
	TENANT:
	
	IMPINJ, INC., a Washington corporation

			
	  
 By:
	 	  
 /s/ Evan
Fein

			
	  
 Name:
	 	  
 Evan
Fein

			
		
	Title:	 	 VP Finance

		
		 	
		
		 	

 

					
	 STATE OF WASHINGTON
	  	)	  	
		  	)	  	ss.
	 COUNTY OF KING
	  	)	  	

 On this 21st day of July , 2006, before me, the undersigned, a Notary Public in and for the State of Washington, duly commissioned
and sworn personally appeared James L. Neal , known to me to be the President of FREMONT LAKE UNION CENTER LLC, the limited liability company that executed the foregoing instrument, and acknowledged the said instrument to be the free and
voluntary act and deed of said limited liability company, for the purposes therein mentioned, and on oath stated that he/she was authorized to execute said instrument. 
 I certify that I know or have satisfactory evidence that the person appearing before me and making this acknowledgment is the person whose true signature appears on this document. 

WITNESS my hand and official seal hereto affixed the day and year in the certificate above written. 

 

					
	

	 		 	         /s/ Martha M. Wilson

	 		 	Signature
	 		 	  
 Martha M.
Wilson

	 		 	Print Name
	 		 	 NOTARY PUBLIC in and for the State of
 Washington, residing at Seattle.

	 		 	My commission expires 6-17-2009.
	 		 	
	 		 	
	 		 	
	 		 	
	 		 	
	 		 	
	 		 	
	 		 	
	 		 	
	 		 	

			
	STATE OF WASHINGTON	 	)
		 	 ) ss.

	 COUNTY OF KING
	 	)

 On this 7th day of July, 2006, before me, the undersigned, a Notary Public in
and for the State of Washington, duly commissioned and sworn personally appeared Evan Fein, known to me to be the VP Finance of FREMONT LAKE UNION CENTER LLC, the limited liability company that executed the foregoing instrument, and acknowledged the
said instrument to be the free and voluntary act and deed of said limited liability company, for the purposes therein mentioned, and on oath stated that he/she was authorized to execute said instrument. 

I certify that I know or have satisfactory evidence that the person appearing before me and making this acknowledgment is the person
whose true signature appears on this document. 
 WITNESS my hand and official seal hereto affixed the day and year in the
certificate above written. 
  

							
	

	 	 /s/ Stacy L. Jones

	 	Signature	 		 	
	 	  
 Stacy L.
Jones

	 	Print Name
	 	NOTARY PUBLIC in and for the State of
	 	Washington, residing at Kent.
	 	My commission expires	 	  
	 	.

			
	STATE OF WASHINGTON	 	)
		 	) ss.
	COUNTY OF KING	 	)

 On this
             day of                     , 2006, before me, the undersigned,
a Notary Public in and for the State of Washington, duly commissioned and sworn personally appeared
                                         
                                       , known to
me to be the
                                        
 of IMPINJ, INC., the corporation that executed the foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said corporation, for the purposes therein mentioned, and on oath stated that he/she
was authorized to execute said instrument. 
 I certify that I know or have satisfactory evidence that the person appearing
before me and making this acknowledgment is the person whose true signature appears on this document. 
 WITNESS my hand and
official seal hereto affixed the day and year in the certificate above written. 
  

							
		  	  

		  	Signature	  		  	
		  	  

		  	Print Name
		  	NOTARY PUBLIC in and for the State of
		  	Washington, residing at	  	  
	  	.
		  	My commission expires	  	  
	  	.

 EXHIBIT 1 

WORK LETTER 
 1. Tenant’s Improvements. All permanent improvements to the Expansion Premises that Tenant requires to ready the Expansion Premises for Tenant’s use are referred to herein collectively as
“Tenant’s Improvements” and shall be designed and made at Tenant’s expense, except as provided in Section 4 below, and in accordance with the terms of this Work Letter. 

2. Design of Tenant’s Improvements. 
 (a) Tenant’s Architect. Tenant shall engage the services of a licensed architect approved by Landlord (“Tenant’s Architect”) to provide the professional services required
for Tenant’s Improvements. Landlord has approved Burgess/Weaver, the architect for the Existing Premises. Tenant’s Architect shall provide all architectural and engineering service as required for Tenant’s Improvements. Tenant shall
work diligently with Tenant’s Architect in preparing preliminary and final plans, specifications and engineering and construction drawings for Tenant’s Improvements. Tenant’s Architect shall work with and be subject to Tenant’s
direction and control with respect to Tenant Work subject to Landlord’s approval rights as provided for herein. Tenant’s Architect shall check to see that the work shown on Tenant’s plans for Tenant’s Improvements is compatible
with the basic Building plans. All plans for Tenant’s Improvements and all modifications thereto shall be subject to the approval of Landlord, which shall not be unreasonably withheld. 

(b) Plans for Tenant’s Improvements. Promptly after Lease execution Tenant shall cause Tenant’s Architect to commence
preparation of a space plan for Landlord’s review and approval. After Landlord’s approval thereof, Tenant shall cause Tenant’s Architect to prepare preliminary working drawings and plans and specifications for Tenant’s
Improvements which shall be based on the floor plan approved by Landlord. After completion thereof, Tenant shall submit such to Landlord for its review and comment. After obtaining Landlord’s comments therein, Tenant shall cause Tenant’s
Architect to incorporate Landlord’s comments into the final plans and specifications (the “Final Contract Documents”) and submit them to Landlord for its final review and approval which approval shall not be unreasonably
withheld so long as such are consistent and compatible with base Building plans and systems and do not increase Landlord’s costs or materially delay the completion of Landlord’s work elsewhere in the Building. Tenant shall reimburse
Landlord for all out-of-pocket costs incurred in connection with the design and construction of Tenant’s Improvements through a credit against the Allowance provided for in Section 4 below. 

(c) Tenant Costs. Tenant shall be responsible for any damages or other costs incurred by Landlord which are caused by (i) the
acts or omissions of Tenant or its employees, agents or contractors while on the Expansion Premises; (ii) Tenant’s requests for changes to Building; or (iii) Tenant’s breach of the Lease or this Work Letter. The costs and damages
shall be deducted from the Allowance provided for in Section 4 below. 

  
 EXHIBIT 1
– PAGE 1 of 3 

 3. Construction of Tenant’s Improvements. 

(a) Commencement. After Landlord’s approval or deemed approval of the Final Contract Documents, Landlord shall obtain all
governmental approvals and permits required therefor and enter into a fixed price construction contract with a general contractor selected by Landlord. Tenant shall have the right to review and approve the bid selected by Landlord an consult with
Landlord regarding the selection of the general contractor. 
 (b) Final Contract Documents and Modifications. If Tenant
requests any material change from the Final Contract Documents, Tenant shall request such change in writing to Landlord for its review and approval, which shall not be unreasonably withheld, and such request shall be accompanied by all plans and
specifications necessary to show and explain changes from the approved Final Contract Documents. Landlord shall provide its response within a reasonable period after its receipt of such submittals from Tenant. Tenant shall be responsible for any
resulting delay in completion of the Expansion Premises due to a modification of Final Contract Documents. Tenant shall also be responsible for the cost of any demolition work attributable to the change. 

(c) Tenant’s Telephone, Computer and Cable System. Tenant shall be solely responsible for, and shall bear the cost of, the
design and installation of its telephone, computer and cable system. Information concerning telephone equipment and cabling sizes and any special requirements must be given to Landlord during the planning phase. 

4. Improvements Allowance. 
 (a) Allowance. Landlord shall provide Tenant with an allowance of up to One Hundred Twenty-Five Thousand Six Hundred Twenty-Five Dollars ($125,625) (the “Allowance”) toward the
cost of Tenant’s Improvements. Landlord agrees to pay for the Cost of Tenant’s Improvements, as hereinafter defined, up to the total of the Allowance, in accordance with the terms of this Section 4. 

(b) Cost of Tenant’s Improvements. As used herein the “Cost of Tenant’s Improvements” means the
following out-of-pocket improvements costs incurred by Landlord in performing Tenant’s Improvements: 
 (i) Payments to
contractors and subcontractors. 
 (ii) Fees for building permits and inspections; 

(iii) Fees of engineers, surveyors, architects, attorneys and others providing professional or other services in connection with the
construction of Tenant’s Improvements or the supervision thereof; 
 (iv) A construction management fee to Landlord in an
amount equal to five percent (5%) of the cost of the Tenant Improvements; and 
 (v) Other costs incurred in connection
with Tenant’s Improvements. 

  
 EXHIBIT 1
– PAGE 2 of 3 

 The Cost of Tenant’s Improvements includes the cost of acquiring, delivering or installing
Tenant’s machinery, fixtures and affixed equipment if permanently attached and if Tenant paid cash for them, as opposed to financing them with or leasing them from third parties. 

(c) Funding and Disbursement. Landlord shall fund and disburse the Allowance by paying invoices from the contractors
subcontractors performing work or parties providing materials with respect to Tenant’s Improvements (subject to Landlord’s receipt of lien waivers from such parties). At Landlord’s option, Landlord may fund the Allowance in monthly
progress payment installments, based on the submission of the foregoing items, subject to withholding ten percent (10%) of each draw as retention (at Landlord’s option). No portion of the Allowance shall be disbursed if Tenant is in
default under the Lease or would be but for the passage of time or giving of notice. 
 (d) Excess Costs. Tenant shall be
solely responsible for any costs for Tenant’s Improvements in excess of the Allowance. Tenant shall reimburse Landlord for such excess costs on demand. Tenant’s failure to pay such excess costs to Landlord within ten (10) business
days after Landlord’s demand therefor shall constitute an event of default under the Lease. Any amounts not timely paid by Tenant shall accrue interest at the rate of twelve percent (12%) per annum until paid. 

  
 EXHIBIT 1
– PAGE 3 of 3Second Amend. to Lease Agreement with Fremont Lake Union, dated Dec. 11, 2009

 Exhibit 10.23 
 SECOND AMENDMENT TO LEASE 
 This Second Amendment is dated for
reference purposes as of December 11, 2009 and is by and between FREMONT LAKE UNION CENTER LLC, a Delaware limited liability company (“Landlord”) and IMPINJ, INC., a Delaware corporation (“Tenant”). 

RECITALS: 
 A. Landlord and Tenant entered into an Office Lease with Addendum No. 1 dated as of November 14, 2004 (the “Lease”), pursuant to which Tenant leased from Landlord certain premises in
the building (the “Building”) located at 701 North 34th Street, Seattle, Washington, as described more particularly in the Lease. Capitalized defined terms not otherwise defined in this Second Amendment shall have the meaning set forth in the Lease.

 B. Landlord and Tenant entered into a First Amendment to Lease dated July 21, 2006 (the “First Amendment”)
whereby the area of the premises was expanded. As used in this Second Amendment, the term “Lease” refers collectively to the Lease, as amended by the First Amendment. 

C. Tenant has been leasing the area of the Building known as Suite 300 with an agreed rentable area of 37,716 square feet (the
“Premises”). 
 D. Landlord and Tenant desire to amend the Lease to extend the Term thereof and to modify it in
certain other respects. 
 NOW, THEREFORE, in consideration of the foregoing, the parties hereby covenant and agree as follows:

 1. Effective Date. This Second Amendment shall be effective as October 1, 2009 (the “Effective Date”)
and shall control in the event of any conflict or inconsistency with the Lease. 
 2. Lease Term. The Term of the Lease
is extended for an additional period of seventy two (72) months and will now expire on August 31, 2016. 

  

					
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	 		  	IMPINJ SEC AMD LSE6

 3. Base Rent. Beginning on the Effective Date the Minimum Monthly Base Rent due under
the Lease shall be paid as indicated in the column below entitled “Minimum Monthly Base Rent”, subject to further adjustments as provided for in paragraph 5 below: 

 

													
	 Period
	  	Minimum
Monthly Base
Rent	 	  	Annual
“State Rate”
Per RSF	 	  	Annual
“Effective
Rate” Per
RSF	 
				
	 October 1, 2009 – August 31, 2012
	  	$	39,287.50	  	  	$	17.56	  	  	 	12.50	  
	 September 1, 2012 – August 31, 2013
	  	$	56,119.00	  	  	$	19.50	  	  	 	17.86	  
	 September 1, 2013 – August 31, 2014
	  	$	64,431.50	  	  	$	20.50	  	  	 	20.50	  
	 September 1, 2014 – August 31, 2015
	  	$	67,574.50	  	  	$	21.50	  	  	 	21.50	  
	 September 1, 2015 – August 31, 2016
	  	$	70,717.50	  	  	$	22.50	  	  	 	22.50	  

 As this Second Amendment has been
executed subsequent to the Effective Date, and Tenant has paid Rent at a higher rate than the Minimum Monthly Base Rent specified above during the period from the Effective Date through the date of mutual execution, Tenant shall be entitled to
offset the excess Rent which it paid against Rent coming due after the date of mutual execution. 
 4. Tenant’s Pro Rata
Percentage. Tenant’s Pro Rata Percentage shall be: (a) 19.72% for the period October 1, 2009 through August 31, 2012; (b) 25.37% for the period September 1, 2012 through August 31, 2013; and (c) 27.71% for
the period thereafter, but with the (a) and (b) percentages being subject to adjustment, as provided in paragraph 5 below. If Landlord elects to create such, Operating Costs will also include costs associated with the creation,
operation and maintenance of a shower and related service facility in the Complex for use as part of Common Areas, including in Operating Expenses an amount equal to the fair market value of any previously income generating area devoted to such
facility, at market rents not to exceed $20 per RSF per year, but with Capital Costs related to such facility to be amortized as provided for in the definition of Capital Costs. 

5. Base Rent and Pro Rata Percentage Adjustments. Minimum Monthly Base Rent and Tenant’s Pro Rata Share Percentages shall be
adjusted for the occurrences addressed in the following subparagraphs in the manner indicated below: 
 (a) If during the period
between the Effective Date through August 31, 2012 (the “Interim Period”) Tenant acquires, whether through asset or equity purchase, merger or reverse merger or like event, whether directly or indirectly or through an affiliate, a
company that has ten (10) or more employees who will be located in the Premises (an “Acquisition”), then Minimum Monthly Base Rent shall be increased by Two Hundred and Ninety Two dollars ($292) multiplied by the number of employees
covered by the Acquisition, for the time between the date the Acquisition closes through the end of the Interim Period. Also, during such Interim Period, Tenant’s Pro-Rata Percentage shall be increased by 0.1469 of a percentage point for each
Employee covered by the 

  

					
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	 		  	IMPINJ SEC AMD LSE6

 
Acquisition. Notwithstanding the foregoing, in no event shall Minimum Monthly Base Rent be increased to more than Fifty-Five Thousand One Hundred Ninety Six and 86/100 Dollars ($55,196.86) during
the Interim Period; nor shall Tenant’s Pro Rata Percentage Interest be increased beyond 27.71%. 
 (b) If during the
Interim Period, the area of the space currently being subleased by Tenant to Swype, Inc. (“Swype”) is increased whether by amendment of the existing sublease, a new sublease or otherwise (collectively an “Amended Sublease”), then
the Minimum Monthly Base Rent payable under this Lease for the balance of the Interim Period shall be increased by an amount determined by multiplying the additional subleased rentable area in square feet (the “Increased Sublease Area”)
covered by the Amended Sublease by One and 46/100 dollars ($1.46) per rentable square foot effective as of the effective date of the Amended Lease. On the effective date of the Amended Sublease, Tenant’s Pro Rata Percentage shall be increased
by adding 0.1469 of a percentage point to Tenant’s Pro Rata Percentage Interest for each 200 RSF of Increased Sublease Area or fraction thereof. Notwithstanding the foregoing, however, in no event shall Minimum Monthly Base Rent be increased to
more than Fifty-Five Thousand One Hundred Ninety Six and 86/100 Dollars ($55,196.86) during the Interim Period; nor shall Tenant’s Pro Rata Percentage Interest be increased beyond 27.71%. 

(c) If during the period from the Effective Date through August 31, 2013 (the “Extended Interim Period”), Tenant subleases
space (a “New Sublease”) to a person or entity other than Swype (a “New Subtenant”), then the Minimum Monthly Base Rent payable under the Lease shall be increased as of the effective date of the New Sublease by multiplying the
rentable area in square feet covered by the New Sublease (the “New Sublease Area”) by one-twelfth of the Stated Rate(s) for the remaining Extended Interim Period as adjusted pursuant to Section 3 above. On the effective date of the
New Lease, Tenant’s Pro Rata Percentage shall be increased by adding 0.1469 of a percentage point to then Tenant’s Pro Rata Percentage Interest for each 200 RSF of New Sublease Area or fraction thereof. Notwithstanding the foregoing, in no
event shall Minimum Monthly Base Rent be increased to more than Fifty-Five Thousand One Hundred Ninety Six and 86/100 Dollars ($55,196.86) during the Interim Period, or to more than Sixty-One Thousand Two Hundred and Eighty-Eight Dollars ($61,288))
after August 31, 2012, nor shall Tenant’s Pro Rata Percentage Interest be increased beyond 27.71% for the Extended Interim Period. 
 (d) If the Swype Sublease is extended beyond August 31, 2012, then the Minimum Monthly Base Rent shall be increased for the period September 1, 2012 through August 31, 2013 by an amount
equal to the annual Stated Rent for the period in question, divided by 12, and multiplied by the whole area in square feet subleased to Swype, but in no event to an amount more than Sixty-One Thousand Two Hundred and Eighty-Eight Dollars ($61,288).
Tenant’s Pro rata Percentage shall be increased by adding 0.1469 of a percentage point to then Tenant’s Pro Rata Percentage Interest for each 200 RSF of space in the entire Swype subleased premises or fraction thereof; but Tenant’s
Pro Rata Percentage Interest shall not be increased beyond 27.71%. 
 (e) Tenant shall be obligated to promptly notify Landlord
of an event covered by subparagraphs 5(a) through 5(d), to provide Landlord with a copy of the agreement reflecting the event and, in the case of subparagraph 5(a), to provide Landlord with documentation with respect to the employee
increase resulting from the Acquisition. For purposes of subparagraphs 5(b)-(d), the effective date shall be the date upon which Swype or the New Subtenant is first entitled to occupy such space or the date upon which rent thereon commences,
whichever occurs first. 

  

					
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 6. Premises Condition. Tenant acknowledges that it has accepted the Premises in its
present AS IS condition, with no Landlord obligation to alter or improve it in any respect as a consequence of the Second Amendment. All Tenant alterations, additions or improvements to the Premises are subject to the terms of the Lease. 

7. New Climate Measures; LEED. 
 (a) Landlord and Tenant acknowledge that it is likely that new laws will be enacted dealing with energy conservation, CO2 emissions, transportation and other matters related to global climate change
(“Climate Measures”) and that existing Climate Measures policies will be implemented through the adoption of governmental rules and regulations (such laws, rules and regulations being collectively referred to herein as “New Climate
Measures”) which could increase the obligations of, and restrictions on, Landlord related to the Building from those which existed on the date of this Lease. Tenant covenants to use reasonable efforts to comply with the requirements of New
Climate Measures applicable to Tenant and to reasonably cooperate with Landlord in connection with satisfying Landlord’s compliance requirements with respect to the climate measures and to any U.S. Green Building Council’s Leadership in
Energy and Environmental Design programs (“LEED”) measures implemented by Landlord, including, but not limited to, providing Landlord with monitoring data and reporting duties related to the Premises, provided that Tenant is not required
to incur anything more than incidental additional costs in such efforts, and is not otherwise materially adversely impacted in its use and enjoyment of the Premises, in connection with such compliance measures. 

(b) Tenant acknowledges that the Building is or may become in the future certified under the LEED rating system. Landlord’s
sustainability practices address whole-building operations and maintenance issues including chemical use; indoor air quality; energy efficiency; water efficiency; recycling programs; exterior maintenance programs; and systems upgrades to meet green
building energy, water, indoor air quality, and lighting performance standards. All construction and maintenance methods and procedures, material purchases, and disposal of waste will, if available to Tenant without additional cost, be in compliance
with minimum standards and specifications, in addition to all applicable laws, provided that nothing contained in this Lease shall require to build out the Premises in its initial construction to LEED standards or ratings. Tenant shall cooperate
with Landlord to comply with Landlord’s sustainability practices, subject to the qualifications in this Section 7. 

(c) Effective as of the Commencement Date, Tenant shall use proven energy and carbon reduction measures, including energy efficient bulbs
in task lighting; use of lighting controls; daylighting measures to avoid overlighting interior spaces; using reasonable efforts to encourage its employees to close shades in the Premises to avoid overheating the space and to turn off lights and
equipment at the end of the work day; purchasing ENERGY STAR® qualified equipment, including but not limited to lighting, office equipment, commercial and residential quality kitchen equipment, vending and ice machines; and purchasing products
certified by the U.S. EPA’s Water Sense® program, provided such equipment and products are available without additional cost to Tenant. 

  

					
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 8. Letters of Credit. Landlord is currently holding the following letters of credit
(collectively, the “Existing Letters of Credit”). Upon execution of this Second Amendment Landlord and Tenant shall take such actions as may be required (at Tenant’s option) to (i) reduce the collective balance of the Existing
Letters of Credit to $300,000, or (ii) to substitute a new letter of credit for the benefit of Landlord in the amount $300,000 issued by any of Silicon Valley Bank, Comerica Bank, Bank of America or Wells Fargo or another national bank
acceptable to Landlord (the “New Letter of Credit”) and otherwise meeting the requirements of Section 4 of the First Amendment (whereupon Landlord shall return the Existing Letters of Credit to Tenant). The New Letter of Credit or
Existing Letters of Credit as the case may be shall be governed by all of the terms of Section 4 of the First Amendment, except that (a) the total amount thereof shall be reduced to $150,000 ninety (90) days after Tenant provides
Landlord with a certificate from Tenant’s chief financial officer to the effect financial statements showing that for two (2) consecutive quarters Tenant has recorded positive net income in accordance with GAAP, (b) all letters of
credit shall be returned to Tenant subject to Tenant’s delivery to Landlord of a cash Security Deposit of $70,717, ninety (90) days after Tenant provides Landlord with a certificate from Tenant’s chief financial officer to the effect
that for four (4) consecutive quarters Tenant has recorded positive net income in accordance with GAAP, and (c) even if Tenant has not met the requirements of either (a) or (b), the New Letter of Credit or existing Letter of Credit,
as the case may be, shall be reduced to $200,000 on January 1, 2011, in all cases so long as Tenant is not then in default under the Lease. Tenant’s interim (quarterly) financial statements for purposes of determining profitability and
letter of credit reductions purposes shall be prepared in accordance with GAAP and Tenant’s normal internal reporting functions. The terms of paragraph F of the Addendum No. 1 to Lease are deleted in their entirety. 

9. Renewal Option. 
 (a) Renewal. If Tenant is not in default under the Lease, Tenant shall have the option to renew the Lease for a term of either three (3) or five (5) years (the “Renewal Term”),
which shall begin on September 1, 2016. To exercise a renewal option Tenant must give Landlord written notice thereof including whether Tenant elects the three or five year term (the “Notice of Exercise”) no sooner than
September 1, 2015 nor later than December 1, 2015. If Tenant timely exercises a renewal option, this Lease shall continue in effect as written, except that Minimum Monthly Rent for the Renewal Term shall be adjusted as provided for in
paragraph 9(b) below. The renewal option is personal to Tenant and may not be exercised by an assignee, subtenant or successor, except as provided in paragraph A.2 of Addendum No. 1 to Lease. 

(b) If Tenant exercises its renewal option, then the Minimum Monthly Rent for the Renewal Term shall be equal to Fair Market Rent, as
defined in paragraph B.1. of Addendum No. 1 to the Lease, with Fair Market Rent to be determined in accordance with the terms of the balance of paragraph B of Addendum No. 1 to the Lease. 

10. Parking. 
 (a) Tenant shall be allocated exclusive use and occupancy, and shall pay stall rental for, the number of stalls shown below, subject to adjustment as noted in this paragraph below. The initial location of
such stalls (“Tenant’s Stalls”) is shown on Exhibits A-1 through A-3, the 

  

					
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location of the 75 initial Tenant stalls being shown on Exhibit A-1 the location of the eight (8) additional stalls being shown on Exhibit A-2 and the location of the Optional
Stalls being shown on Exhibit A-3. Landlord shall have the right to change the location of Tenant Stalls from time to time upon reasonable advance notice to Tenant, but only, in each instance, to a single stall, not a tandem stall. The minimum
number of parking stalls which Tenant shall be initially obligated to take, and pay rent on and the monthly per stall rental rates thereafter, are as follows: 
  

													
	 Period
	  	Number
of Stalls	 	  	Monthly
Rate	 	  	Optional
Stalls	 
				
	 October 1, 2009 – August 31, 2010
	  	 	75	  	  	$	75	  	  	 	9	  
	 September 1, 2010 – August 31, 2012
	  	 	65	  	  	$	75	  	  	 	11	  
	 September 1, 2012 – August 31, 2013
	  	 	76	  	  	$	100	  	  	 	11	  
	 September 1, 2013 – August 31, 2014
	  	 	83	  	  	$	100	  	  	 	12	  
	 September 1, 2014 – August 31, 2016
	  	 	83	  	  	 	Market	  	  	 	12	  

 The monthly rates
quoted in this paragraph 10 are inclusive of any applicable Washington State Sales Tax and other then applicable taxes. Landlord shall timely remit to the State all sales tax due to the State and indemnify Tenant from any claims by the State
for sales tax due in connection with Tenant’s Stalls. The terms of paragraph D of Addendum No. 1 to the Lease are deleted in their entirety. 
 (b) Tenant shall have the right after at least ninety (90) days prior written notice to exclude from Tenant’s Stalls, and on which it is paying stall rental, effective as of the first day of a
calendar month, up to the number of stalls listed in the Optional Stalls category of paragraph 10(a) above in the area shown on Exhibit A-3 (the “Stall Maximum”). A stall so excluded is referred to herein as an “Excluded
Stall”. 
 (c) If a stall is an Excluded Stall, Landlord shall have the right to rent such stall on a monthly basis or to
lease it to another party. 
 (d) Tenant may add to Tenant’s Stalls all or any number of up to all Option Stalls which it
had previously relinquished as of the first day of the month after the month in which Tenant notifies Landlord of its desire to regain such, at the then applicable monthly rate provide for in paragraph 10(a). If the originally relinquished
stalls have been committed to another Person or entity, Landlord shall make available such stalls from any other Plaza Building stalls which are not rented on a monthly basis, not encumbered in any other lease, or identified by the property manager
as hourly stalls or are designated by Owner as hourly stalls (“Available Stalls”). 

  

					
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 (e) Tenant shall have the right to lease any Available Stalls on a month-to-month basis at
Landlord’s then market rates for such stalls. 
 (f) For the one (1) year period beginning on September 1, 2014,
the monthly per stall rate paid by Tenant for its parking stalls shall be adjusted to the lower of (a) $125 per stall, or (b) market rates for such stalls, as defined in paragraph 10(h) below. For the one (1) year period
beginning on September 1, 2015, the monthly per stall rental rate paid by Tenant for its parking shall be adjusted to the lower of (a) $135 per stall, or (b) market rates for such stalls, as defined in paragraph 10(h). Rental
rates for stalls shall be market rates during the Renewal Term. 
 (g) As used in this paragraph 10 “market
rates” refers to parking rates charged for the following properties in the general Fremont area, being deemed comparable properties for parking purposes the parking rates which were in the $125 - $130 per month range at the date of the
execution of this Lease: Park View Building, Waterside Building, Canal View Building, Evanston Building and Lake View Building. Tenant shall comply with the rules and regulations applicable to the Complex garage. 

(h) Landlord shall mark Tenant’s Stalls with a stall number and/or the name “Impinj.” Tenant’s Stalls are for
Tenant’s exclusive use so long as they are not Excluded Stalls. Landlord shall use reasonable efforts to monitor and address unauthorized users, tenants and visitor’s use of Tenant’s stalls. 

11. Rent Credit. Landlord shall provide Tenant a total credit which Tenant may use against Rent of $754,320 in accordance with the
terms of this paragraph 11. 
 (a) Of this rental credit, $536,880 shall be available for use against Rent commencing on
January 1, 2010. 
 (b) The sum of $153,820 shall be available for use against Rent commencing on September 1, 2012
provided that (i) Tenant may apply not more than $12,497.70 per month of such sum against Base Minimum Monthly Rent; and (ii)Tenant may offset against only 22.27% of any Additional Rent charged in a month. 

(c) The sum of $63,620 shall be available for use against Rent on September 1, 2013 provided that (i) Tenant may apply not more
than $5,431.38 per month of such sum against Minimum Monthly Base Rent, and (ii) Tenant may offset against only 8.43% of any additional rent charged in a month. 
 No portion of the rent credit may be used while Tenant is in default under the Lease, with a default being deemed to exist during the cure period, if any, for such default. If the Lease is terminated due
to a Tenant default, then Tenant’s right to any then unused rent credit shall terminate as well. 
 12. Brokerage
Commission. Landlord will pay Tenant’s real estate broker, Steven Schwartz and Jeff Durrell of Pacific Real Estate Partners, Inc. (“Broker”), a commission pursuant to separate agreement between Landlord and Broker. 

  

					
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 13. Tax Credit. To the extent Tenant engages in high tech related research and
development (including software and internet) Landlord will work with Tenant to apply for and receive the Washington State High Tech Tax Deferral, but shall not be obligated to incur any additional costs or risks in connection therewith. 

14. Continued Effect. The Lease shall continue in full force and effect as written, except as expressly identified by the terms of
this Second Amendment. 

  

					
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 IN WITNESS WHEREOF, Landlord and Tenant have executed this Second Amendment as of the date
first written above. 
  

					
	 LANDLORD:

	
	 FREMONT LAKE UNION CENTER LLC

		
	 By
	 	   /s/ Bert Emme

		 	  Its	 	 Berit Emme - Director

		
	 By
	 	   /s/ Sabine Ruppel

		 	  Its	 	 Sabine Ruppel - Director

	
	TENANT:
	
	IMPINJ, INC.
		
	 By
	 	   /s/ Evan Fein

		 	  Its	 	 SVP Finance

		 	  Evan Fein

  

					
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 Roll of Documents No. 2142/2009 HE 

Hereby I, 

Dr. Rolf-Hermann Henniges, Notary Public 
 practising Alstertor 14, D-20095 Hamburg, 
 certify, that the above are the true signatures,
subscribed in my presence, of 
  

	1.	Ms. Sabine Ruppel, 

 date of
birth: 16th day of May, 1971, 
 address: Caffamacherreihe 8, D-20355 Hamburg, 

personally known to me, and 
  

	2.	Ms. Berit Emme, born Winkler, 

 date of birth: 28th day of May, 1972, 
 address: Caffamacherreihe 8, D-20355
Hamburg, 
 personally known to me, 
 both acting on behalf of the 
 FREMONT LAKE UNION CENTER LLC, a Delaware
limited liability company. 
 Hamburg, the 18th day of December, 2009 
  

					
		 	 /s/ Dr. Rolf-Herman Henniges

 
 Dr. Rolf-Hermann Henniges, Notary Public
	  	

		 		  

 

 

  

					
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