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tcmd_EX10_1

		

			 

		

		
			Exhibit 10.1
		

		
			 
		

		
			CONFIDENTIAL TRANSITION AGREEMENT AND RELEASE
		

		
			This CONFIDENTIAL TRANSITION AGREEMENT AND RELEASE (the “Agreement”), dated June 14, 2017, is made by and between Mary E. Anderson (“Executive” or “Anderson”), and Tactile Systems Technology, Inc. d/b/a Tactile Medical (“Tactile” or the “Company”) (collectively, the “Parties”).
		

		
			WHEREAS, the Executive has been employed by Tactile since September 1, 2005, most recently as its Vice President – Reimbursement; and
		

		
			WHEREAS, the Executive is currently employed pursuant to the Employment Agreement dated June 18, 2016, attached hereto as Exhibit A; and
		

		
			WHEREAS, the Executive has resigned her position effective July 1, 2017, to pursue other career goals; and
		

		
			WHEREAS, the Company and Executive wish to provide for a smooth transition for both parties; and
		

		
			WHEREAS, the Parties have agreed to enter into this Agreement to memorialize the terms and conditions of Executive’s separation from employment, Executive’s rights and obligations during a transition period, and to amicably resolve any disputes between them; and
		

		
			WHEREAS, Executive and Company agree that the mutual promises set forth herein constitute valuable consideration.
		

		
			NOW, THEREFORE, Executive and Company agree:
		

			
	
			
				 1.
			

			
	
			
			Anderson’s Resignation.  Anderson submitted her written resignation of employment with the Company on May 16, 2017, which such resignation is effective July 1, 2017, and Company has accepted her resignation.  Anderson has resigned her position as an executive officer of the Company, effective June 5, 2017, as her duties with the Company from and after such date shall not constitute those of an executive officer of the Company.  Executive shall cooperate with any further requirements to resign her position as an executive officer of Tactile.

			
	
			
				 2.
			

			
	
			
			Transition Period, Consulting and Other Benefits.  Provided that Anderson signs and does not rescind this Agreement, and signs and does not rescind a separate Release in the form and at the times specified herein, Anderson and Company agree to the following terms:

			
	
			
				 a.
			

			
	
			
			Anderson is expected to devote her full time, attention and efforts to the business of the Company through May 26, 2017.

			
	
			
				 b.
			

			
	
			
			After May 26, 2017, Anderson shall thereafter perform the duties set forth herein, whether as an employee or independent contractor, from her home office, unless otherwise requested by the Company.

			
	
			
				 c.
			

			
	
			
			The Company agrees to supply Anderson with a laptop to use in providing the consulting work, which shall remain the property of the Company and be returned at the close of the consulting period.

		
			

		 

		

			 

		

 

		

			 

		

		

			
	
			
				 d.
			

			
	
			
			The period from May 27, 2017 until December 31, 2017 shall be the Transition Period.  Anderson will remain an employee from May 27, 2017 until July 1, 2017, and shall continue to receive her regular compensation and benefits through that period.  

			
	
			
				 e.
			

			
	
			
			Provided that Anderson signs and does not rescind a Release in the form attached as Exhibit B, on or after July 1, 2017, Anderson shall be engaged by Company as consultant from July 2, 2017 through December 31, 2017.  Anderson’s consulting fee shall be $7,000.00/week.  The consulting fee shall be paid biweekly, with the exception of:

			
	
			
				i.
			

			
	
			
			Any payments due during the rescission period for the Release executed by Anderson after July 1, 2017, shall be delayed until the close of the rescission period set forth therein.  Provided that Anderson signs and does not rescind the separate Release, any such delayed payments shall be made within three (3) business days following the close of the rescission period.  Should Anderson fail to execute the Release, Anderson shall not be entitled to any such amounts.

			
	
			
				ii.
			

			
	
			
			Payment of consulting fees for December 2017 shall be contingent upon Anderson’s execution of a Release in the form attached as Exhibit B, on or after December 31, 2017.  Provided that Anderson signs and does not rescind the separate Release on or after December 31, 2017, the consulting fees shall be made within three (3) business days following the close of the rescission period.  Should Anderson fail to execute the Release, Anderson shall not be entitled to any such amounts.

			
	
			
				iii.
			

			
	
			
			The consulting fee will be paid on a 1099 basis. Anderson shall be liable for all expenses, taxes, and insurance, except as set forth herein.

			
	
			
				 f.
			

			
	
			
			During the Transition Period, Anderson shall provide up to 10 hours per week of consulting services, which shall include, but are not limited to, the following:

			
	
			
				i.
			

			
	
			
			Assistance with Sarbanes-Oxley implementation;

			
	
			
				ii.
			

			
	
			
			Month-end / quarter-end financial close support and training/transition as required, through July 1, 2017;

			
	
			
				iii.
			

			
	
			
			Continuation of process improvement initiative around rental business

			
	
			
				iv.
			

			
	
			
			Assistance in guiding customer refund/over-payment project, through July 1, 2017;

			
	
			
				v.
			

			
	
			
			Assistance with process changes required for launch of next-generation Flexitouch products;

			
	
			
				vi.
			

			
	
			
			Other transition assistance as required; and

			
	
			
				vii.
			

			
	
			
			Company and Anderson agree that Anderson will not be intentionally provided with information that may convey insider status after July 1, 2017.  Anderson shall inform Company if she believes that she may receive insider information in connection with the consulting services, and Company shall reasonably modify the request for consulting services to avoid the need to share such information.  Anderson acknowledges that Company does not indemnify her for any liability she may incur based on her knowledge of insider information, whether such knowledge is acquired during or after the period of her employment.

		
			

		 

		

			 

		

 

		

			 

		

		

			
	
			
				 g.
			

			
	
			
			Anderson and Company agree that she continues to be bound by the obligations set forth in Sections 5-9 of her Employment Agreement during the Transition Period and thereafter, as modified herein.

			
	
			
				 h.
			

			
	
			
			Provided that Anderson signs and does not rescind the separate Release on or after July 1, 2017, and becomes eligible for, actually enrolls in, and provides proof of enrollment in Tactile’s group medical and dental insurance as permitted by COBRA, Tactile shall pay Anderson’s entire COBRA premium for medical and dental premiums at her current coverage level, through the earlier of (i) December 31, 2017; or (ii) the date upon which Anderson is no longer eligible for COBRA coverage.  Anderson has been advised that if she wishes to secure health coverage on or off the health care exchange, under current law she must do so within 60 days of the Separation Date, or she may have to wait until the next open enrollment period.  

			
	
			
				 i.
			

			
	
			
			Provided that Anderson signs and does not rescind a Release on or after July 1, 2017 and complies with the other terms of this Agreement, including providing the consulting services provided herein, Anderson’s equity awards shall be vested as to the following aggregate number of shares on July 1, 2017:

			
	
			
				 ·
			

			
	
			
			Stock Option grant issued February 26, 2008: fully vested

			
	
			
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			Stock Option grant issued June 5, 2009: fully vested 

			
	
			
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			Stock Option grant issued March 9, 2010: fully vested

			
	
			
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			Stock Option grant issued April 21, 2011: fully vested

			
	
			
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			Stock Option grant issued October 14, 2013:  18,160 stock options vested

			
	
			
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			Restricted Stock Unit grant issued July 27, 2016:  6,413 restricted stock units vested

			
	
			
				 ·
			

			
	
			
			Restricted Stock Unit grant issued May 10, 2017:  434 restricted stock units vested

		
			The preceding lists all equity awards currently held by Anderson.  All equity awards issued to Anderson shall cease vesting on July 1, 2017 and shall terminate at that time as to any unvested portion of the awards, which shall be forfeited.
		

			
	
			
				 3.
			

			
	
			
			Mutual Release of Claims.  In consideration of the benefits provided herein, Anderson, on behalf of herself, her agents, representatives, attorneys, assignees, heirs, executors, and administrators, covenants not to sue, releases and forever discharges the Company, and its past and present employees, agents, insurers, officials, officers, directors, divisions, parents, subsidiaries, predecessors and successors, and all affiliated entities and persons, and all of their respective past and present employees, agents, insurers, officials, officers, and directors (the “Released Parties”) from any and all past and present claims and causes of action of any type, including any and all claims arising, or which may have arisen, out of or in connection with her employment or separation of her employment with the Company, to the extent permitted by law.  Executive specifically intends that this Release includes, but is not limited to, any causes of actions or claims she may have arising out of or based upon the Federal Fair Labor Standards Act, Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e, et seq., the Age Discrimination in Employment Act of 1967, 29 U.S.C. § 623, et seq., as amended by the Older Workers Benefit Protection Act, the Americans with Disabilities Act, 42 U.S.C. § 12101, et seq., the Family and Medical Leave Act, the Occupational Safety and Health Act, the Minnesota Human Rights Act, Minnesota Statutes §363A.01 et seq., Minnesota Statutes Chapter 181, including Minnesota’s whistleblower statute, the Minnesota Constitution, 

		 

		

			 

		

 

		

			 

		

	Minnesota common law, claims under any other federal, state or local statute, ordinance, regulation or order regarding employment, compensation for employment, termination of employment, or discrimination in employment, and the common law of any state.  Executive understands and agrees that this discharge of claims extends to, but is not limited to, all claims which she may have as of the date of this Agreement against Tactile, based upon statutory or common law claims for defamation, libel, slander, assault, battery, negligent or intentional infliction of emotional distress, negligent hiring or retention, breach of contract, promissory estoppel, fraud, wrongful discharge, invasion of privacy, retaliation, whistleblowing, claims for bonuses or commissions, claims for unpaid wages, or claims based on any other theory, whether legal or equitable, and any and all claims for damages, attorneys’ fees or costs, including all claims under the Employment Agreement.  Executive acknowledges that this Release includes all claims she is legally permitted to release and as such does not apply to vested rights in any Tactile retirement plans, nor does it preclude her from exercising any Protected Government Rights, as described below in Section 4.

		
			Anderson shall execute a separate Release in the form of Exhibit B after her last date of employment, as well as after the close of her consulting agreement, in order to effectuate her intent to release all claims with respect to her employment or other engagement with Tactile.
		

		
			Company releases Anderson from any and all past and present claims and causes of action of any type through the date of this Agreement.   Notwithstanding this Agreement, Anderson’s obligations in Sections 5-9 of her Employment Agreement survive this Agreement.
		

			
	
			
				 4.
			

			
	
			
			Protected Government Rights.  Nothing in this Agreement prohibits Anderson from reporting possible violations of federal or state law or regulation to the government, including but not limited to the EEOC, Department of Justice, Securities and Exchange Commission, Congress or any agency Inspector General, or filing a charge with or participating in any investigation or proceeding conducted by the EEOC or a comparable state or local agency (collectively, any such activity shall be referred to as a “Government Report”).  Anderson does not need prior authorization of the Company to make a Government Report and is not required to notify the Company that she has made a Government Report.  The restrictions in Sections 7-10 of this Agreement regarding confidentiality, non-disparagement, and cooperation do not apply in connection with a Government Report.  Notwithstanding the provisions of this Section 4, Executive’s release of claims in Section 3 above waives her right to recover any monetary damages or receive any relief in any charge, complaint, or lawsuit filed by Executive or anyone else on her behalf, including in connection with matter, including Government Report, but this Agreement does not limit Executive’s right to receive a reward from the government for providing it information in connection with a Government Report.  

			
	
			
				 5.
			

			
	
			
			No Other Claims.  Anderson warrants and represents that she has not filed or caused to be filed any lawsuits, complaints, charges or grievances of any type against the Company.

			
	
			
				 6.
			

			
	
			
			Mutual Separation from Employment; No Wrongdoing.  Anderson and Tactile agree that her separation from employment is the result of her voluntary resignation, which Tactile has accepted. The Parties mutually acknowledge and affirm that this Agreement and the consideration provided herein is not to be construed as an admission of any liability or wrongdoing on the part of either Party.  Such liability is expressly denied by the Parties.

		
			

		 

		

			 

		

 

		

			 

		

		

			
	
			
				 7.
			

			
	
			
			Confidentiality.  The Parties agree that the content of this Agreement and the events leading up to entry into this Agreement are strictly confidential.  The only statement that either party may make regarding the past disputes between them is:  “The matter was resolved to the parties’ mutual satisfaction.”  Notwithstanding the previous sentence, the Parties may disclose the terms of the settlement to persons or entities with the need to know including but not limited to their spouses, attorneys, accountants, tax preparers and insurers as necessary in the normal course of business, or otherwise as required by law, including but not limited to required filings with the SEC.

			
	
			
				 8.
			

			
	
			
			Mutual Non-Disparagement.  Anderson agrees that she will not comment adversely about or disparage the Released Parties, including Tactile’s agents, officers, directors or employees, in any way to any third party.  Gerald Mattys, Lynn Blake, and Robert Folkes will not comment adversely about or disparage Anderson, in any way to any third party, nor will they instruct any other person to do so.

			
	
			
				 9.
			

			
	
			
			Cooperation.  Executive will cooperate with the Company and with any affiliate of the Company in any claims or lawsuits where Executive has knowledge of the facts.  Executive further agrees that she will not voluntarily aid, assist, or cooperate with anyone who has claims against the Company or with their attorneys or agents in any claims or lawsuits that such person may bring.  Nothing in this Agreement prevents Executive from testifying at an investigation, regulatory audit, administrative hearing, arbitration, deposition or in court in response to a lawful and properly served subpoena.

			
	
			
				 10.
			

			
	
			
			Continuing Obligations; Confidential Information Learned During Employment; Noncompetition and Nonsolicitation.  Anderson reaffirms her obligation to abide by the obligations set forth in Sections 5-9 of her Employment Agreement, which are expressly incorporated in the Confidential Settlement Agreement and survive the termination of her employment and this Agreement, as modified herein:

			
	
			
				 a.
			

			
	
			
			To the extent that the obligations set forth in Sections 5-9 of the Employment Agreement refer to Anderson’s “employment,” that term shall include the transition period generally, including the duration of the consulting agreement.

			
	
			
				 b.
			

			
	
			
			The covenants set forth in Section 7 of the Employment Agreement shall continue during the transition period, and the Restricted Period and other post-employment obligations shall continue for a period of twelve (12) months following the close of the transition period, i.e., through December 31, 2018.

			
	
			
				 c.
			

			
	
			
			Executive shall return all of the Company’s property in her possession, including without limitation, information (whether electronic or hard copy), security cards, credit cards, phone cards, laptop computer, computer manuals, keys, documents, business equipment, computer software, disks and media, policy and procedure manuals and any other documents or materials pertaining to any matter Executive worked on for the Company by May 26, 2017, except for the laptop computer which Tactile shall provide to Executive for use during the transition period.  Thereafter, Tactile will provide Executive with any property necessary to execute the consulting services, which Executive shall return upon the conclusion of the transition period, or Tactile’s request, if sooner.

		
			

		 

		

			 

		

 

		

			 

		

		

			
	
			
				 d.
			

			
	
			
			Anderson shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made in confidence to a federal, state or local government, or to an attorney, and is made solely for the purpose of reporting or investigating a suspected violation of law.  The same immunity will be provided for the disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  An individual who files a lawsuit for reporting a suspected violation of law may disclose the trade secret to the individual’s attorney and use the trade secret information in the court proceeding if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order.

			
	
			
				 11.
			

			
	
			
			Severability, Merger, Modification and Counterparts.  If any clause of this Agreement is found to be invalid, it shall not affect the validity of any other provisions of this Agreement.  Except as provided herein, this Agreement supersedes and replaces all prior oral and written agreements, understandings, and representations between Executive and Tactile or their respective representatives.  Notwithstanding this paragraph, Executive’s obligations under the Employee Agreement shall continue as set forth and/or modified herein.  This Agreement may only be modified by a subsequent written agreement signed by both parties.  Further, this Agreement may be executed in counterparts, and each shall be binding and of the same legal effect as an original.  Moreover, the parties agree that a fax or .pdf signature on any counterpart shall be of the same binding legal effect as a signed original.

			
	
			
				 12.
			

			
	
			
			Miscellaneous.  The terms provided in Section 12 of the Employment Agreement shall survive and are hereby incorporated into this Agreement, except to the extent that they conflict with more specific terms as set forth herein.

			
	
			
				 13.
			

			
	
			
			Notification of Release and Right to Rescind.  This Agreement contains a release of certain legal rights which Anderson may have including under the Age Discrimination in Employment Act and the Minnesota Human Rights Act.  Anderson has been given twenty-one (21) days within which to consider this agreement.  Anderson should consult with an attorney regarding such release and other aspects of this Agreement before signing this Agreement.  Anderson understands that she may nullify and rescind this entire Agreement at any time within fifteen (15) days from the date of her signature below by indicating her desire to do so in writing and delivering that writing to Gerald Mattys, 1331 Tyler St. NE, Suite 200, Minneapolis, MN 55413, by hand or by certified mail, return receipt requested.  If Anderson fails to properly deliver or mail such written rescission as instructed, the rescission shall not be effective.  Anderson further understands that if she rescinds this Agreement on a timely basis, Tactile will not be bound by the terms of this Agreement, and, in such event, Anderson will have no right to receive or retain the compensation or benefits conferred under this Agreement, but that rescission of this Agreement shall not be effective to rescind her voluntary resignation.

		
			 
		

			
	
			
				 14.
			

			
	
			
			Executive Understands the Terms of this Agreement.  Other than stated herein, Executive warrants that (a) no promise or inducement has been offered for this Agreement; (b) this Agreement is executed without reliance upon any statement or representation of Tactile or its representatives concerning the nature and extent of any claims or liability therefor, if any; (c) Executive is legally competent to execute this Agreement and accepts full responsibility therefor; (d) Executive has been represented by  and consulted with counsel of her choice with 

		 

		

			 

		

 

		

			 

		

	respect to this Agreement; (e) Tactile has allowed Executive twenty-one (21) days within which to consider this proposed Agreement; and (f) Executive fully understands this Agreement and has been advised by counsel of the consequences of signing this Agreement.  The parties acknowledge and agree that if Executive has not signed this proposed Agreement and returned it to Gerald Mattys, 1331 Tyler St. NE, Suite 200, Minneapolis, MN 55413 within twenty-one (21) days (specifically, no later than the end of business on June 16, 2017), then the offer of this Agreement shall expire by its own terms and be of no further force or effect without any further action required on the part of Tactile.

		
			 
		

			
					
						

					
					
						 

					
					
						 

				
	
					
						AGREED:

					
					
						 

					
					
						TACTILE MEDICAL

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						/s/ Mary E. Anderson

					
					
						 

					
					
						/s/ Gerald Mattys

				
	
					
						Mary E. Anderson

					
					
						 

					
					
						Gerald Mattys, CEO

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

			 

		

 

		

			 

		

		

		
			EXHIBIT A
		

		
			TACTILE SYSTEMS TECHNOLOGY, INC.
		

		
			Employment Agreement
		

		
			This Employment Agreement (this “Agreement”) is entered into effective June 8, 2016 (the “Effective Date”) by and between Tactile Systems Technology, Inc., a Delaware corporation (the “Company”), and Mary Anderson,  a resident of Minnesota (“Executive”).
		

		
			Background
		

		
			A.  The Company and Executive have been parties to an Employment Agreement, dated [____________] (the “Prior Agreement”).
		

		
			B.  The Company desires to employ Executive on the terms and conditions set forth in this Agreement.
		

		
			C.  The Executive desires to be employed by the Company on the terms and conditions set forth in this Agreement.
		

		
			D.  This Agreement shall govern the employment relationship between the Executive and the Company from and after the Effective Date hereof, and supersedes and negates any previous agreements or understandings, whether written or oral, with respect to such relationship, including without limitation the Prior Agreement.
		

		
			Agreement
		

		
			In consideration of the foregoing premises and the respective agreements of the Company and Executive set forth below, the Company and Executive, intending to be legally bound, agree as follows:
		

		
			1.  Employment. The term of Executive’s employment under this Agreement shall commence as of the Effective Date and continue until terminated in accordance with Section 10 hereof (the “Term”).
		

		
			2.  Position and Duties.
		

		
			(a)  Position with the Company.  During the Term, Executive will serve as the Company’s Vice President, Reimbursement and will perform such duties and responsibilities as the Company’s Chief Executive Officer will assign to Executive from time to time.
		

		
			(b)  Performance of Duties and Responsibilities.  Executive will serve the Company faithfully and to the best of Executive’s ability and will devote Executive’s full time, attention and efforts to the business of the Company during Executive’s employment with the Company.  Executive will report to the Company’s Chief Executive Officer or such other individual or individuals designated by the Chief Executive Officer.  During Executive’s employment hereunder, Executive will not accept other employment or engage in other material business activity, except as approved in writing by the Company’s Board of Directors (the “Board”).
		

		
			

		 

		

			 

		

 

		

			 

		

		

		
			3.  Compensation.  While Executive is employed by the Company during the Term, and in exchange for Executive fulfilling Executive’s duties and responsibilities as set forth in this Agreement, the Company will provide Executive the compensation and benefits set forth in this Section 3.
		

		
			(a)  Base Salary.  The Company will pay to Executive an annual base salary of $237,000, less deductions and withholdings, which base salary will be paid in accordance with the Company’s normal payroll policies and procedures.  During each year after the first year of Executive’s employment hereunder, the Compensation Committee of the Board (the “Committee”) may review and increase Executive’s base salary in its sole discretion.
		

		
			(b)  Bonus.  For each calendar year Executive is employed by the Company, Executive shall be eligible for an annual target bonus in an amount of 35% of Executive’s base salary earned during such calendar year, based upon and subject to criteria set by the Committee from time to time.  In order to earn and receive payment of an annual bonus, Executive must be an employee of the Company on the date the bonus is paid by the Company, provided, however, that if Executive’s employment is terminated by the Company other than for Cause (as herein defined) or by Executive for Good Reason (as herein defined) and the Termination Date (as defined herein) is after the completion of a calendar year but before the annual bonus for such calendar year has been paid to Executive, then Executive will earn and receive payment of an annual bonus for such prior calendar year in accordance with the bonus plan in effect for such year. In any case, any annual bonus earned under this Section 3(b) will be paid not later than March 15 immediately following the calendar year to which the bonus relates.
		

		
			(c)  Equity Awards.  During the Term, Executive shall be eligible to receive one or more equity-based incentive awards at the discretion of the Committee.  The terms of such awards, if any, shall be determined in the sole discretion of the Committee, including the types of awards, the number of securities covered by each award, the vesting conditions applicable to each award, and the manner in which awards are to be paid or settled.  Nothing herein shall obligate the Company to make an equity award to Executive at any time.
		

		
			(d)  Employee Benefits.  Executive shall be entitled to participate in all employee benefit plans and programs of the Company to the extent that Executive meets the eligibility requirements for each individual plan or program.  The Company provides no assurance as to the adoption or continuance of any particular employee benefit plan or program, and Executive’s participation in any such plan or program will be subject to the provisions, rules and regulations applicable thereto.
		

		
			(e)  Expenses.  The Company will reimburse Executive for all reasonable and necessary out-of-pocket business, travel and entertainment expenses incurred by Executive in the performance of the duties and responsibilities hereunder, subject to the Company’s normal policies and procedures for expense verification and documentation.
		

		
			(f)  Paid Time Off.  Executive shall be entitled to paid time off (“PTO”) of 27 days per year.  PTO days shall be taken at such times so as not to disrupt the operations of the Company, as approved by the Company’s Chief Executive Officer.  Any accrued and unused PTO upon termination of employment will not be paid out pursuant to the Company’s standard policies addressing PTO.
		

		
			

		 

		

			 

		

 

		

			 

		

		

		
			4.  Affiliated Entities.  As used in this Agreement, “Affiliates” includes the Company and each corporation, partnership, or other entity which controls the Company, is controlled by the Company, or is under common control with the Company (in each case “control” meaning the direct or indirect ownership of 50% or more of all outstanding equity interests).
		

		
			5.  Confidential Information.  Except as permitted by the Company, Executive will not at any time divulge, furnish or make accessible to anyone or use in any way other than in the ordinary course of the business of the Company or its Affiliates, any confidential, proprietary or secret knowledge or information of the Company or its Affiliates that Executive has acquired or will acquire about the Company or its Affiliates, whether developed by Executive or by others, concerning (i) any trade secrets, (ii) any confidential, proprietary or secret designs, programs, processes, formulae, plans, devices or material (whether or not patented or patentable) directly or indirectly useful in any aspect of the business of the Company or of its Affiliates, (iii) any customer or supplier lists, (iv) any confidential, proprietary or secret development or research work, (v) any strategic or other business, marketing or sales plans, (vi) any financial data or plans, or (viii) any other confidential or proprietary information or secret aspects of the business of the Company or of its Affiliates.  Executive acknowledges that the above-described knowledge and information constitutes a unique and valuable asset of the Company and represents a substantial investment of time and expense by the Company, and that any disclosure or other use of such knowledge or information other than for the sole benefit of the Company or its Affiliates would be wrongful and would cause irreparable harm to the Company.  Executive will refrain from intentionally committing any acts that would materially reduce the value of such knowledge or information to the Company or its Affiliates.  The foregoing obligations of confidentiality shall not apply to any knowledge or information that (i) is now or subsequently becomes generally publicly known, other than as a direct or indirect result of the breach of this Agreement, (ii) is independently made available to Executive in good faith by a third party who has not violated a confidential relationship with the Company or its Affiliates, or (iii) is required to be disclosed by law or legal process.  Executive understands and agrees that Executive’s obligations under this Agreement to maintain the confidentiality of the Company’s confidential information are in addition to any obligations of Executive under applicable statutory or common law.
		

		
			6.  Ventures.  If, during Executive’s employment with the Company, Executive is engaged in or provides input into the planning or implementing of any project, program or venture involving the Company, all rights in such project, program or venture belong to the Company.  Except as approved in writing by the Board, Executive will not be entitled to any interest in any such project, program or venture or to any commission, finder’s fee or other compensation in connection therewith.  Executive will have no interest, direct or indirect, in any customer or supplier that conducts business with the Company.
		

		
			7.  Noncompetition and Nonsolicitation Covenants.
		

		
			(a)  Agreement Not to Compete.  During the Restricted Period (defined below), Executive will not, directly or indirectly, engage in any business, in the United States or in any other location in which the Company is then doing business, for the development, sale, service, or distribution of medical devices to treat lymphedema patients or any other business that is competitive with the then-current businesses of the Company or its Affiliates, including without limitation as a proprietor, principal, agent, partner, officer, director, stockholder, employee, member of any association, consultant or otherwise.  Ownership by Executive, as a passive investment, of less than 2.5% of the outstanding shares of capital stock of any corporation listed on a national securities exchange or 

		 

		

			 

		

 

		

			 

		

publicly traded in the over-the-counter market shall not constitute a breach of this Section 7(a).  Notwithstanding the foregoing, Executive’s direct or indirect engagement in a business whose sole purpose is the development, sale, service, or distribution of compression garments (but not pumps or other devices) to treat lymphedema patients or other patients shall not constitute a breach of this Section 7(a).
		

		
			(b)  Agreement Not to Solicit or Hire Employees or Contractors. During Executive’s employment with the Company or any Affiliates and for a period of twelve (12) consecutive months from and after the termination of Executive’s employment, whether such termination is with or without cause, or whether such termination is at the instance of Executive or the Company, Executive will not, directly or indirectly, solicit, hire or engage any person who is then an employee or contractor of the Company or who was an employee of the Company at any time during the six (6) month period immediately preceding Executive’s termination of employment, in any manner or capacity, including without limitation as a proprietor, principal, agent, partner, officer, director, stockholder, employee, member of any association, consultant or otherwise, or otherwise directly or indirectly request, advise or induce any then current employee or contractor of the Company to terminate or otherwise adversely change its relationship with the Company.
		

		
			(c)  Agreement Not to Solicit Others. During Executive’s employment with the Company or any Affiliates and for a period of twelve (12) consecutive months from and after the termination of Executive’s employment, whether such termination is with or without cause, or whether such termination is at the instance of Executive or the Company, Executive will not, directly or indirectly, solicit, request, advise or induce any then current customer, supplier or other business contact of the Company to cancel, curtail or otherwise adversely change its relationship with the Company, in any manner or capacity, including without limitation as a proprietor, principal, agent, partner, officer, director, stockholder, employee, member of any association, consultant or otherwise.
		

		
			(d)  Restricted Period.  For purposes of this Agreement “Restricted Period” is defined as follows.
		

		
			(i)  If (x) Executive’s employment is terminated by the Company without Cause (defined below) or by Executive for Good Reason (defined below), and (y) Executive signs a release of claims as provided for in Section 11(g), then the Restricted Period shall be the period during Executive’s employment with the Company or any Affiliates and for a period of nine (9) consecutive months from and after the termination of Executive’s employment; provided that the Company may in its sole discretion elect to extend the Restricted Period by an additional six (6) months by providing Executive at least thirty (30) days’ notice of such extension and the payments and reimbursements provided for in Section 11(a)(iii) of this Agreement.
		

		
			(ii)  If Executive’s employment is terminated by the Company or by Executive under any conditions other than as provided for in Section 7(d)(i), then the Restricted Period shall be the period during Executive’s employment with the Company or any Affiliates and for a period of twelve (12) consecutive months from and after the termination of Executive’s employment.
		

		
			(e)  Acknowledgment.  Executive hereby acknowledges that the provisions of this Section 7 are reasonable and necessary to protect the legitimate interests of the Company and that any 

		 

		

			 

		

 

		

			 

		

violation of this Section 7 by Executive will cause substantial and irreparable harm to the Company to such an extent that monetary damages alone would be an inadequate remedy therefor.  Executive represents and warrants that Executive is not subject to any other agreements prohibiting the performance of Executive’s obligations under this Agreement, including any non-competition agreement.
		

		
			(f)  Blue Pencil Doctrine.  If the duration of, the scope of or any business activity covered by any provision of this Section 7 is in excess of what is determined to be valid and enforceable under applicable law, such provision will be construed to cover only that duration, scope or activity that is determined to be valid and enforceable.  Executive hereby acknowledges that this Section 7 will be given the construction which renders its provisions valid and enforceable to the maximum extent, not exceeding its express terms, possible under applicable law.
		

		
			8.  Patents, Copyrights and Related Matters.
		

		
			(a)  Disclosure and Assignment.  Executive must immediately disclose to the Company any and all improvements and inventions that Executive may conceive and/or reduce to practice individually or jointly or commonly with others while Executive is employed with the Company or any of its Affiliates with respect to (i) any methods, processes or apparatus concerned with the development, use or production of any type of products, goods or services sold or used by the Company or its Affiliates, and (ii) any type of products, goods or services sold or used by the Company or its Affiliates.  Any such improvements and inventions will be the sole and exclusive property of the Company and Executive hereby immediately assigns, transfers and sets over to the Company Executive’s entire right, title and interest in and to any and all of such improvement and inventions as are specified in this Section 8(a), and in and to any and all applications for letters patent that may be filed on such inventions, and in and to any and all letters patent that may issue, or be issued, upon such applications.  In connection therewith and for no additional compensation therefor, but at no expense to Executive, Executive will sign any and all instruments deemed necessary by the Company for:
		

		
			(i)  the filing and prosecution of any applications for letters patent of the United States or of any foreign country that the Company may desire to file upon such inventions as are specified in this Section 8(a);
		

		
			(ii)   the filing and prosecution of any divisional, continuation, continuation-in-part or reissue applications that the Company may desire to file upon such applications for letters patent; and
		

		
			(iii)  the reviving, re-examining or renewing of any of such applications for letters patent.
		

		
			This Section 8(a) will not apply to any invention for which no equipment, supplies, facilities, confidential, proprietary or secret knowledge or information, or other trade secret information of the Company was used and that was developed entirely on Executive’s own time, and (i) that does not relate (A) directly to the business of the Company, or (B) to the Company’s actual or demonstrably anticipated research or development, or (ii) that does not result from any work performed by Executive for the Company.
		

		
			(b)  Copyrightable Material.  All right, title and interest in all copyrightable material that Executive shall conceive or originate individually or jointly or commonly with others, and that arise 

		 

		

			 

		

 

		

			 

		

in connection with Executive’s services hereunder or knowledge of confidential and proprietary information of the Company, will be the property of the Company and are hereby assigned by Executive to the Company of its Affiliates, along with ownership of any and all copyrights in the copyrightable material. Where applicable, works of authorship created by Executive relating to the Company or its Affiliates and arising out of Executive’s knowledge of confidential and proprietary information of the Company shall be considered “works made for hire,” as defined in the U.S. Copyright Act, as amended.
		

		
			(c)  Remedies.  Executive acknowledges that it would be difficult to fully compensate the Company for monetary damages resulting from any breach by Executive of this Section 8.  Accordingly, in the event of any actual or threatened breach of any such provisions, the Company will, in addition to any other remedies it may have, be entitled to injunctive and other equitable relief to enforce such provisions, and such relief may be granted without the necessity of proving actual monetary damages.
		

		
			9.  Return of Records and Property.  Upon termination of Executive’s employment or at any time upon the Company’s request, Executive will promptly deliver to the Company any and all Company and Affiliate records and any and all Company and Affiliate property in Executive’s possession or under Executive’s control, including without limitation manuals, books, blank forms, documents, letters, memoranda, notes, notebooks, reports, printouts, computer disks, computer tapes, source codes, data, tables or calculations and all copies thereof, documents that in whole or in part contain any trade secrets or confidential, proprietary or other secret information of the Company or its Affiliates and all copies thereof, and keys, access cards, access codes, passwords, credit cards, personal computers, telephones and other electronic equipment belonging to the Company or its Affiliates.
		

		
			10.  Termination of Employment.
		

		
			(a)  Executive’s employment with the Company will terminate immediately upon:
		

		
			(i)  Executive’s receipt of written notice from the Company of the termination of Executive’s employment, effective as of the date indicated in such notice;
		

		
			(ii)   the Company’s receipt of Executive’s written resignation from the Company, effective as of the date indicated in such resignation;
		

		
			(iii)  Executive’s Disability (as defined below); or
		

		
			(iv)  Executive’s death.
		

		
			(b)  The date upon which Executive’s termination of employment with the Company occurs is the “Termination Date.” For purposes of Section 11(a) of this Agreement only, the Termination Date shall mean the date on which a “separation from service” has occurred for purposes of Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance thereunder (the “Code.”)
		

		
			(c)  Immediately upon termination of Executive’s employment with the Company for any reason, Executive shall resign all positions then held as an Executive of the Company and any Affiliates of the Company.
		

		
			

		 

		

			 

		

 

		

			 

		

		

		
			(d)  Following termination of Executive’s employment with the Company for any reason, Executive shall cooperate with the Company in the transition of Executive’s duties and responsibilities hereunder to the extent reasonably requested by the Board; provided that Executive will be fairly compensated to the extent such cooperation requires more than an incidental amount of time and effort on Executive’s part, and further that Executive will not be required to incur any out-of-pocket expenses in doing so.
		

		
			11.  Payments upon Termination of Employment.
		

		
			(a)  Subject to Section 11(g) of this Agreement, if Executive’s employment with the Company is terminated by the Company without Cause or by Executive for Good Reason, then, in addition to paying Executive’s earned and accrued base salary, accrued but unpaid expense reimbursements and benefits through the Termination Date, the Company will provide to Executive the following payments:
		

		
			(i)  Separation Pay.  The Company will pay to Executive an amount equal to Executive’s then current base salary for a period of nine (9) months plus an amount equal to 75% of Executive’s then current target bonus, with such sum, less applicable withholdings, payable in equal installments in accordance with the Company’s regular payroll schedule commencing with the first normal payroll date of the Company following the Termination Date and continuing for nine (9) months thereafter, provided that any installments that would have been paid during the sixty (60) day period immediately following the Termination Date shall be held by the Company until the first payroll date occurring more than sixty (60) days after the Termination Date.
		

		
			(ii)   Value of Accrued and Unused PTO.  The Company will pay to Executive the value of Executive’s accrued and unused PTO as of the Termination Date (based on Executive’s base salary as of the Termination Date), less applicable withholdings, payable in a lump sum on the Company’s first payroll date occurring more than sixty (60) days after the Termination Date.
		

		
			(iii)  Continued Benefits. If Executive is eligible for and takes all steps necessary to continue Executive’s group health insurance coverage with the Company following the Termination Date, the Company will pay for the portion of the premium costs for such coverage that the Company would pay if Executive remained employed by the Company, at the same level of coverage that was in effect as of the Termination Date, for a period of nine (9) consecutive months after the Termination Date (or until Executive receives group health or dental coverage from another employer, if earlier).
		

		
			(iv)  Restricted Period Extension Payments.  If the Company elects to extend the Restricted Period for six (6) additional months as provided for in Section 7(d)(i), then the Company will (A) pay to Executive an amount equal to the monthly amount payable to Executive under Section 11(a)(i), with such additional amounts payable to Executive in installments in accordance with the Company’s regular payroll schedule commencing on the first normal payroll date of the Company following the nine (9) month anniversary of the Termination Date and continuing for six (6) months thereafter, and (B) extend 

		 

		

			 

		

 

		

			 

		

for six (6) additional months (after the end of the nine (9) month period identified in Section 11(a)(iii)) the period during which it will pay a portion of the premium costs for group health insurance coverage as provided in, and subject to the same conditions of, Section 11(a)(iii).
		

		
			(v)   Accelerated Vesting of Equity.  In addition to the payments identified above in Sections 11(a)(i)-(iv), if Executive’s employment with the Company is terminated by the Company without Cause or by Executive for Good Reason, then, subject to Section 11(g) of this Agreement and notwithstanding any language in any equity plan or applicable equity award agreement to the contrary, upon the expiration of the all rescission periods provided by law with respect to the release of claims described in Section 11(g), any equity awards issued to Executive that have any portion of such award unvested as of the Termination Date (each an “Award”) will vest as to the number of shares, options or other securities (the “Securities”) calculated as follows (rounded up to the nearest whole share):
		

		
			Additional Securities Vested = (Number of Securities Issued Under Award x ((Number of Days between Date of Grant of Award and Termination Date) / (Number of Days between Date of Grant of Award and Final Vesting Date of Award))) – Number of Securities Vested Under Award as of the Termination Date.
		

		
			(b)  If Executive’s employment with the Company is terminated for any of the following reasons:
		

		
			(i)  Executive’s abandonment of Executive’s employment or Executive’s resignation for any reason other than Good Reason;
		

		
			(ii)   termination of Executive’s employment by the Company for Cause; or
		

		
			(iii)  Executive’s death or Disability.
		

		
			then the Company will pay Executive or Executive’s estate, as the case may be, Executive’s earned and accrued base salary, accrued but unpaid expense reimbursements and benefits through the Termination Date.
		

		
			(c)  “Cause” hereunder means:
		

		
			(i)  an act or acts of dishonesty undertaken by Executive and intended to result in personal gain or enrichment of Executive or others at the expense of the Company;
		

		
			(ii)   unlawful conduct or gross misconduct by Executive that, in either event, is injurious to the Company;
		

		
			(iii)  the conviction of Executive of a felony; or
		

		
			

		 

		

			 

		

 

		

			 

		

		

		
			(iv)  material breach of any terms or conditions of this Agreement by Executive which breach has not been cured by Executive within 15 days after written notice thereof to Executive from the Company.
		

		
			For the purposes of Sections 11(c)(ii) and (iv), no act or failure to act on Executive’s part shall be considered “Cause” if done by Executive pursuant to specific authorization evidenced by a resolution duly adopted by the Board or pursuant to specific advice given by counsel for the Company, unless such specific authorization or advice results in whole or in part from material misrepresentations or omissions of Executive.
		

		
			(d)  “Disability” hereunder means the inability of Executive to perform on a full-time basis the duties and responsibilities of Executive’s employment with the Company by reason of Executive’s illness or other physical or mental impairment or condition, if such inability continues for an uninterrupted period of 90 days or more during any 180-day period.  A period of inability is “uninterrupted” unless and until Executive returns to full-time work for a continuous period of at least 30 days.
		

		
			(e)  “Good Reason” hereunder means the occurrence of any of the following events without Executive’s consent:
		

		
			(i)  the assignment of Executive to a position with responsibilities or duties of a materially lesser status or degree than the position specified in Section 2(a);
		

		
			(ii)   material breach of any terms or conditions of this Agreement by the Company not caused by Executive;
		

		
			(iii)  the requirement by the Company that Executive relocate out of the Minneapolis/St. Paul Metropolitan area.
		

		
			For the purposes of Section 11(e), “Good Reason” shall not exist unless Executive has first provided written notice to the Company of the occurrence of one or more of the conditions under clauses (i) through (iii) above within ninety (90) days of the condition’s initial occurrence,  such condition is not fully remedied by the Company within thirty (30) days after the Company’s receipt of written notice from Executive, and the Termination Date occurs no later than one hundred and thirty (130) days after the condition’s initial occurrence.
		

		
			(f)  In the event of termination of Executive’s employment, the sole obligation of the Company to pay post-termination severance and benefits under this Agreement will be its obligation to make the payments called for by Sections 11(a) or 11(b) hereof, as the case may be, and the Company will have no other obligation to Executive, except as otherwise provided by law, under the terms of any other applicable agreement between Executive and the Company or under the terms of any employee benefit plans or programs then maintained by the Company in which Executive participates.
		

		
			(g)  Notwithstanding the foregoing provisions of this Section 11, the Company will not be obligated to make any payments under Section 11(a) hereof unless Executive has signed a release of claims in favor of the Company and its Affiliates in a form to be prescribed by the Company, all applicable consideration and rescission periods provided by law shall have expired, and Executive is in strict compliance with the terms of this Agreement as of the dates of such payments.
		

		
			

		 

		

			 

		

 

		

			 

		

		

		
			12.  Miscellaneous.
		

		
			(a)  Governing Law.  All matters relating to the interpretation, construction, application, validity and enforcement of this Agreement will be governed by the laws of the State of Minnesota without giving effect to any choice or conflict of law provision or rule, whether of the State of Minnesota or any other jurisdiction, that would cause the application of laws of any jurisdiction other than the State of Minnesota.
		

		
			(b)  Jurisdiction and Venue.  Executive and the Company consent to jurisdiction of the courts of the State of Minnesota and/or the federal courts, District of Minnesota, for the purpose of resolving all issues of law, equity, or fact, arising out of or in connection with this Agreement.  Any action involving claims of a breach of this Agreement must be brought in such courts.  Each party consents to personal jurisdiction over such party in the state and/or federal courts of Minnesota and hereby waives any defense of lack of personal jurisdiction.  Venue, for the purpose of all such suits, will be in Hennepin County, State of Minnesota.
		

		
			(c)  Entire Agreement.  This Agreement contains the entire agreement of the parties relating to Executive’s employment with the Company and supersedes all prior agreements and understandings with respect to such subject matter, including without limitation the Prior Agreement, and the parties hereto have made no agreements, representations or warranties relating to the subject matter of this Agreement that are not set forth herein; provided, however, that nothing in this Agreement is intended to supersede, replace or modify the terms of the Company’s 2016 Equity Incentive Plan or any equity award agreements issued to Executive under the Company’s 2016 Equity Incentive Plan, each of which shall remain in full force and effect in accordance with their terms.
		

		
			(d)  Code Section 409A.  This Agreement is intended to be exempt from or comply with the requirements of Section 409A(a)(2), (3) and (4) of the Code, including current and future guidance and regulations interpreting such provisions, and should be interpreted accordingly.  To the extent such potential payments or benefits could become subject to additional tax under such Code Section 409A, the parties shall cooperate to amend this Agreement with the goal of giving Executive the economic benefits described herein in a manner that does not result in such tax being imposed.  Each payment or benefit made pursuant to Section 11(a) of this Agreement shall be deemed to be a separate payment for purposes of Code Section 409A.  In addition, payments or benefits pursuant to Section 11(a) shall be exempt from the requirements of Code Section 409A to the maximum extent possible as “short-term deferrals” pursuant to Treasury Regulation Section 1.409A‐1(b)(4), as involuntary separation pay pursuant to Treasury Regulation Section 1.409A‐1(b)(9)(iii), and/or under any other exemption that may be applicable, and this Agreement shall be construed accordingly.  To the extent that any amounts payable under this Agreement are required to be delayed under Code Section 409A, such amounts are intended to be and should be considered for purposes of Code Section 409A as separate payments from the amounts that are not required to be delayed.  Notwithstanding anything herein to the contrary, if Executive is considered a “specified employee” (as defined in Treasury Regulation Section 1.409A‐1(i)) as of the Termination Date, then no payments of deferred compensation subject to Code Section 409A and payable due to Executive’s separation from service shall be made under this Agreement before the first business day that is six (6) months after the Termination Date (or upon Executive’s death, if earlier) (the “Specified Period”).  Any deferred compensation payments that would otherwise be required to be made to Executive during the Specified Period will be accumulated by the Company and paid to Executive on the first day after the end of the Specified Period.  The foregoing restriction on the payment of amounts to Executive during 

		 

		

			 

		

 

		

			 

		

the Specified Period will not apply to the payment of employment taxes.  In the event that the interpretation or requirements of Code Section 409A change during the Term, the parties agree to amend this Agreement, only as necessary, to comply with any such change, if and to the extent such an amendment is permitted by Code Section 409A.
		

		
			(e) Code Section 280G.  Notwithstanding anything in this Agreement to the contrary, if any payment or other benefit hereunder, together with any other payments or benefits that Executive has the right to receive from the Company or any corporation which is a member of an “affiliated group” (as defined in Section 1504(a) of the Code without regard to Section 1504(b) of the Code) of which the Company is a member, would constitute a “parachute payment” (as defined in Section 280G(b)(2) of the Code), then, such payments and benefits will be reduced to the largest amount as, in the sole judgment of the Company, will result in no portion of such payments or benefits being subject to the excise tax imposed by Section 4999 of the Code.
		

		
			(f)  Amendments.  No amendment or modification of this Agreement will be deemed effective unless made in writing and signed by the parties hereto.
		

		
			(g)  No Waiver.  No term or condition of this Agreement will be deemed to have been waived, except by a statement in writing signed by the party against whom enforcement of the waiver is sought.  Any written waiver will not be deemed a continuing waiver unless specifically stated, will operate only as to the specific term or condition waived and will not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived.
		

		
			(h)  Assignment.  This Agreement will not be assignable, in whole or in part, by either party without the prior written consent of the other party, except that the Company may, without the consent of Executive, assign its rights and obligations under this Agreement (1) to an Affiliate or (2) to any corporation or other person or business entity to which the Company may sell or transfer all or substantially all of its assets; provided, however, that the Company’s  assignment of rights may only take place if the assignee accepts and agrees to all of the obligations to Executive  under this Agreement.   After any such assignment by the Company, the Company will be discharged from all further liability hereunder and such assignee will thereafter be deemed to be “the Company” for purposes of all terms and conditions of this Agreement, including this Section 12. For the avoidance of doubt, in the event of Executive’s death, all payments and obligations to Executive shall be paid to Executive’s estate.
		

		
			(i)  Counterparts.  This Agreement may be executed by facsimile signature and in any number of counterparts, and such counterparts executed and delivered, each as an original, will constitute but one and the same instrument.
		

		
			(j)  Severability.  Subject to Section 7(f) hereof, to the extent that any portion of any provision of this Agreement is held invalid or unenforceable, it will be considered deleted herefrom and the remainder of such provision and of this Agreement will be unaffected and will continue in full force and effect.
		

		
			(k)  Captions and Headings.  The captions and paragraph headings used in this Agreement are for convenience of reference only and will not affect the construction or interpretation of this Agreement or any of the provisions hereof.
		

		
			
		

		
			

		 

		

			 

		

 

		

			 

		

		

		
			Executive and the Company have executed this Agreement effective as of the Effective Date set forth in the first paragraph.
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Tactile Systems Technology, Inc.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Gerald Mattys

				
	
					
						 

					
					
						 

					
					
						Gerald Mattys

				
	
					
						 

					
					
						 

					
					
						Chief Executive Officer

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						/s/ Mary Anderson

				
	
					
						 

					
					
						Mary Anderson

				

		
			 
		

		
			
		

		
			

		 

		

			 

		

 

		

			 

		

		

		
			EXHIBIT B
		

		
			RELEASE
		

			
	
			
				 1.
			

			
	
			
			Time for Signing.  Executive warrants and represents that she has not signed this Release until on or after the dates set forth in Section 2(e) (July 1, 2017 and December 31, 2017, respectively).  Executive has executed a separate Release upon each occasion.

			
	
			
				 2.
			

			
	
			
			Return of Company Property.  Executive warrants and represents that she has returned all Tactile property in her possession, including without limitation, information (whether electronic or hard copy), security cards, credit cards, phone cards, laptop computer, computer manuals, keys, documents, business equipment, computer software, disks and media, policy and procedure manuals and any other documents or materials pertaining to any matter Executive worked on for the Company as of the date of this Release, except as expressly agreed between Executive and Company to permit Executive to perform the consulting services.

			
	
			
				 3.
			

			
	
			
			In consideration of the benefits provided herein, Anderson, on behalf of herself, her agents, representatives, attorneys, assignees, heirs, executors, and administrators, covenants not to sue, releases and forever discharges the Company, and its past and present employees, agents, insurers, officials, officers, directors, divisions, parents, subsidiaries, predecessors and successors, and all affiliated entities and persons, and all of their respective past and present employees, agents, insurers, officials, officers, and directors (the “Released Parties”) from any and all past and present claims and causes of action of any type, including any and all claims arising, or which may have arisen, out of or in connection with her employment or separation of her employment with the Company, to the extent permitted by law.  Executive specifically intends that this Release includes, but is not limited to, any causes of actions or claims she may have arising out of or based upon the Federal Fair Labor Standards Act, Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e, et seq., the Age Discrimination in Employment Act of 1967, 29 U.S.C. § 623, et seq., as amended by the Older Workers Benefit Protection Act, the Americans with Disabilities Act, 42 U.S.C. § 12101, et seq., the Family and Medical Leave Act, the Occupational Safety and Health Act, the Minnesota Human Rights Act, Minnesota Statutes §363A.01 et seq., Minnesota Statutes Chapter 181, including Minnesota’s whistleblower statute, the Minnesota Constitution, Minnesota common law, claims under any other federal, state or local statute, ordinance, regulation or order regarding employment, compensation for employment, termination of employment, or discrimination in employment, and the common law of any state.  Executive understands and agrees that this discharge of claims extends to, but is not limited to, all claims which she may have as of the date of this Agreement against Tactile, based upon statutory or common law claims for defamation, libel, slander, assault, battery, negligent or intentional infliction of emotional distress, negligent hiring or retention, breach of contract, promissory estoppel, fraud, wrongful discharge, invasion of privacy, retaliation, whistleblowing, claims for bonuses or commissions, claims for unpaid wages, or claims based on any other theory, whether legal or equitable, and any and all claims for damages, attorneys’ fees or costs, including all claims under the Employment Agreement.  Executive acknowledges that this Release includes all claims she is legally permitted to release and as such does not apply to vested rights in any Tactile retirement plans, nor does it preclude her from exercising any Protected Government Rights, as described in Section 4 of the Agreement.

		
			

		 

		

			 

		

 

		

			 

		

		

			
	
			
				 4.
			

			
	
			
			Notification of Release and Right to Rescind.  This Release contains a release of certain legal rights which Anderson may have including under the Age Discrimination in Employment Act and the Minnesota Human Rights Act.  Anderson has been given more than twenty-one (21) days within which to consider this Release.  Anderson should consult with an attorney regarding such release and other aspects of this Agreement before signing this Release.  Anderson understands that she may nullify and rescind this Release at any time within fifteen (15) days from the date of her signature below by indicating her desire to do so in writing and delivering that writing to Gerald Mattys, 1331 Tyler St. NE, Suite 200, Minneapolis, MN 55413, by hand or by certified mail, return receipt requested.  If Anderson fails to properly deliver or mail such written rescission as instructed, the rescission shall not be effective.  Anderson further understands that if she rescinds this Release on a timely basis, Anderson will have no right to receive or retain the compensation or benefits that are conditioned upon her signing and not rescinding this Release.

		
			 
		

			
	
			
				 5.
			

			
	
			
			Executive Understands the Terms of this Agreement.  Other than stated herein, Executive warrants that (a) no promise or inducement has been offered for this Release; (b) this Release is executed without reliance upon any statement or representation of Tactile or its representatives concerning the nature and extent of any claims or liability therefor, if any; (c) Executive is legally competent to execute this Release and accepts full responsibility therefor; (d) Executive has been represented by  and consulted with counsel of her choice with respect to this Release; (e) Tactile has allowed Executive more than twenty-one (21) days within which to consider this proposed Release; and (f) Executive fully understands this Release and has been advised by counsel of the consequences of signing this Release (or has consciously chosen not to seek counsel).

		
			 
		

			
	
			
				 6.
			

			
	
			
			Employee may sign and return this Release:

		
			 
		

			
	
			
				 a.
			

			
	
			
			Pursuant to Section 2(e): on or after July 1, 2017 and by 4:00 pm Central Time on July 22, 2017; 

			
	
			
				 b.
			

			
	
			
			Pursuant to Section 2(e)(ii): on or after December 31, 2017 and by 4:00 pm Central Time on January 21, 2018.

			
	
			
				 c.
			

			
	
			
			If Employee has not signed this Release and returned it to Gerald Mattys, 1331 Tyler St. NE, Suite 200, Minneapolis, MN 55413, within the dates and times set forth herein, the offer of this Release, she shall not be entitled to any amounts or benefits that are conditioned upon the Release.

		
			 
		

			
					
						

					
					
						 

					
					
						 

				
	
					
						AGREED:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Date:

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Mary E. Andersonrng-ex101_82.htm

 

Exhibit 10.1

			
	

	
COMMERCIAL LEASE AGREEMENT

(C.A.R. Form CL, Revised 12/15)

 
	
 

Date (For reference only): May 17, 2017

                                              TG Brothers, LLC, a California limited liability company                                  ("Landlord ") and

                                               Ring Central, Inc., a Delaware corporation                                     ("Tenant") agree as follows: 

				
	
1.
	
PROPERTY: Landlord rents to Tenant and Tenant rents from Landlord, the real property and improvements described as: 19 Davis Drive, Belmont, CA 94002, as described in Addendum                                                                                                             ("Premises"), which comprise approximately 63.500 % of the total square footage of rentable space in the entire property. See exhibit "A" for a further description of the Premises. 

	
2.
	
TERM: The term begins on (date)               July 1, 2017                ("Commencement Date"), 

	
 
	
(Check A or B):

	
 
	
☒
	
A.  Lease: and shall terminate on (date)            July 31, 2021              at              11:59              ☐ AM ☒ PM. Any holding over after the term of this agreement expires, with Landlord's consent, shall create a month-to-month tenancy that either party may terminate as specified in paragraph 2B. Rent shall be at a rate equal to the rent for the immediately preceding month, payable in advance. All other terms and conditions of this agreement shall remain in full force and effect.

	
 
	
☐
	
B.  Month-to-month: and continues as a month-to-month tenancy. Either party may terminate the tenancy by giving written notice to the other at least 30 days prior to the intended termination date, subject to any applicable laws. Such notice may be given on any date.

	
 
	
☒
	
C.  RENEWAL OR EXTENSION TERMS: See attached addendum                                   

	
3.
	
BASE RENT:

	
 
	
A.
	
Tenant agrees to pay Base Rent at the rate of (CHECK ONE ONLY:)

	
 
	
 
	
☐ (1) 
	
$                           per month, for the term of the agreement.

	
 
	
 
	
☐ (2) 
	
$                           per month, for the first 12 months of the agreement. Commencing with the 13th month, and upon expiration of each 12 months thereafter, rent shall be adjusted according to any increase in the U. S. Consumer Price Index of the Bureau of Labor Statistics of the Department of Labor for All Urban Consumers ("CPI") for                                                                                         (the city nearest the location of the Premises), based on the following formula: Base Rent will be multiplied by the most current CPI preceding the first calendar month during which the adjustment is to take effect, and divided by the most recent CPI preceding the Commencement Date. In no event shall any adjusted Base Rent be less than the Base Rent for the month immediately preceding the adjustment. If the CPI is no longer published, then the adjustment to Base Rent shall be based on an alternate index that most closely reflects the CPI.

	
 
	
 

	
 
	
 
	
☐ (3) 
	
$                       per month for the period commencing                       and ending                       and

	
 
	
 
	
$                       per month for the period commencing                       and ending                       and

	
 
	
 
	
$                       per month for the period commencing                       and ending                                .

	
 
	
 
	
☒ (4)
	
In accordance with the attached rent schedule.

	
 
	
 
	
☐ (5)
	
Other                                                                                                                                                      

	
 
	
B.
	
Base Rent is payable in advance on the 1st (or ☐                     ) day of each calendar month, and is delinquent on the next day.

	
 
	
C.
	
If the Commencement Date falls on any day other than the first day of the month, Base Rent for the first calendar month shall be prorated based on a 30-day period. If Tenant has paid one full month's Base Rent in advance of Commencement Date, Base Rent for the second calendar month shall be prorated based on a 30-day period.

	
4.
	
RENT:

	
 
	
A.
	
Definition: ("Rent") shall mean all monetary obligations of Tenant to Landlord under the terms of this agreement, except security deposit.

	
 
	
B.
	
Payment: Rent shall be paid to (Name) TG Brothers, LLC, a California limited liability company at (address) 22714 Arcade Road, Cupertino, CA 95014                                                                     , or at any other location specified by Landlord in writing to Tenant.

	
 
	
C.
	
Timing: Base Rent shall be paid as specified in paragraph 3. All other Rent shall be paid within 30 days after Tenant is billed by Landlord.

	
5.
	
EARLY POSSESSION: Tenant is entitled to possession of the Premises on                                              See Addendum                                             . If Tenant is in possession prior to the Commencement Date, during this time (i) Tenant is not obligated to pay Base Rent, and (ii) Tenant ☐ is ☒ is not obligated to pay Rent other than Base Rent. Whether or not Tenant is obligated to pay Rent prior to Commencement Date, Tenant is obligated to comply with all other terms of this agreement.

	
6.
	
SECURITY DEPOSIT:

	
 
	
A.
	
Tenant agrees to pay Landlord $ 45,738.00 as a security deposit. Tenant agrees not to hold Broker responsible for its return. (IF CHECKED:) ☒ if Base Rent increases during the term of this agreement, Tenant agrees to increase security deposit by the same proportion as the increase in Base Rent.

	
 
	
B.
	
All or any portion of the security deposit may be used, as reasonably necessary, to: (I) cure Tenant's default in payment of Rent, late charges, non-sufficient funds ("NSF") fees, or other sums due; (ii) repair damage, excluding ordinary wear and tear, caused by Tenant or by a guest or licensee of Tenant; (iii) broom clean the Premises, if necessary, upon termination of tenancy; and (iv) cover any other unfulfilled obligation of Tenant. SECURITY DEPOSIT SHALL NOT BE USED BY TENANT IN LIEU OF PAYMENT OF LAST MONTH'S RENT. If all or any portion of the security deposit is used during tenancy, Tenant agrees to reinstate the total security deposit within 5 days after written notice is delivered to Tenant. Within 30 days after Landlord receives possession of the Premises, Landlord shall: (i) furnish Tenant an itemized statement indicating the amount of any security deposit received and the basis for its disposition, and (ii) return any remaining portion of security deposit to Tenant. However, if the Landlord's only claim upon the security deposit is for unpaid Rent, then the remaining portion of the security deposit, after deduction of unpaid Rent, shall be returned within 14 days after the Landlord receives possession.

	
 
	
C.
	
No interest will be paid on security deposit, unless required by local ordinance.

 

	
Landlord's Initials
	
(Joann Wu)
	
 
	
(                     )
	
 
	
 
	
Tenant's Initials
	
(Mitesh Dhruv)
	
 
	
(                     )
	
 

 

	
© 2015, California Association of REALTORS ®, Inc.
	
 
	
 
	
 
	
 
	
 
	
 
	

	
 

	
CL REVISED 12/15  (PAGE 1 of 6)
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
COMMERCIAL LEASE AGREEMENT (CL PAGE 1 OF 6)

 

 

Reed Smith, 1901 Avenue of Stars, 700 Las Angeles, CA 90067                Phone: (213) 457-6405                Fax:                 Ring Central 19 
Aaron Hritz                  Produced with zip Form® by zip Logix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com  

 

 

 

 

 

 

	
Premises: 
	
19 Davis Drive, Belmont, CA 94002, as described in Addendum
	
Date 
	
May 17, 2017

 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
7.
	
 
	
PAYMENTS:
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
PAYMENT
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
TOTAL DUE
	
 
	
RECEIVED
	
 
	
BALANCE DUE
	
 
	
DUE DATE

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
A.
	
 
	
Rent: From 
	
07/01/2017
	
 
	
To
	
07/31/2017
	
 
	
$
	
42,993.72
	
$
	
42,993.72
	
$
	
 
	
 
	
7/01/2017

	
 
	
 
	
 
	
Date
	
 
	
 
	
Date
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
B.
	
 
	
Security Deposit
	
 
	
 
	
 
	
 
	
$
	
45,738.00
	
$
	
45,738.00
	
$
	
 
	
 
	
6/01/2017

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
C.
	
 
	
Other:
	
 
	
 
	
$
	
 
	
$
	
 
	
$
	
 
	
 
	
 

	
 
	
 
	
 
	
Category
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
D.
	
 
	
Other:
	
 
	
 
	
$
	
 
	
$
	
 
	
$
	
 
	
 
	
 

	
 
	
 
	
 
	
Category
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
E.
	
 
	
Total:
	
 
	
 
	
$
	
88,731.72
	
$
	
88,731.72
	
$
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

 

	
8.
	
PARKING: Tenant is entitled to See Addendum unreserved and 57 reserved vehicle parking spaces. The right to parking ☒ is ☐ is not included in the Base Rent charged pursuant to paragraph 3. If not included in the Base Rent, the parking rental fee shall be an additional $                                per month. Parking space(s) are to be used for parking operable motor vehicles, except for trailers, boats, campers, buses or trucks (other than pick-up trucks). Tenant shall park in assigned space(s) only. Parking space(s) are to be kept clean. Vehicles leaking oil, gas or other motor vehicle fluids shall not be parked in parking spaces or on the Premises. Mechanical work or storage of inoperable vehicles is not allowed in parking space(s) or elsewhere on the Premises. No overnight parking is permitted.

	
9.
	
ADDITIONAL STORAGE: Storage is permitted as follows: exclusive use of "cage" located in west parking lot. The right to additional storage space ☒ is ☐ is not included in the Base Rent charged pursuant to paragraph 3. If not included in Base Rent, storage space shall be an additional $                                per month. Tenant shall store only personal property that Tenant owns, and shall not store property that is claimed by another, or in which another has any right, title, or interest. Tenant shall not store any improperly packaged food or perishable goods, flammable materials, explosives, or other dangerous or hazardous material. Tenant shall pay for, and be responsible for, the clean-up of any contamination caused by Tenant's use of the storage area.

	
10.
	
LATE CHARGE; INTEREST; NSF CHECKS: Tenant acknowledges that either late payment of Rent or issuance of a NSF check may cause Landlord to incur costs and expenses, the exact amount of which are extremely difficult and impractical to determine. These costs may include, but are not limited to, processing, enforcement and accounting expenses, and late charges imposed on Landlord. If any installment of Rent due from Tenant is not received by Landlord within 5 calendar days after date due, or if a check is returned NSF, Tenant shall pay to Landlord, respectively$ 200.00 as late charge, plus 10% interest per annum on the delinquent amount and $25.00 as a NSF fee, any of which shall be deemed additional Rent. Landlord and Tenant agree that these charges represent a fair and reasonable estimate of the costs Landlord may incur by reason of Tenant's late or NSF payment. Any late charge, delinquent interest, or NSF fee due shall be paid with the current installment of Rent. Landlord's acceptance of any late charge or NSF fee shall not constitute a waiver as to any default of Tenant. Landlord's right to collect a Late Charge or NSF fee shall not be deemed an extension of the date Rent is due under paragraph 4, or prevent Landlord from exercising any other rights and remedies under this agreement, and as provided by law.

	
11.
	
CONDITION OF PREMISES: Tenant has examined the Premises and acknowledges that Premise is clean and in operative condition, with the following exceptions: See Addendum.                                                                                                     
Items listed as exceptions shall be dealt with in the following manner: See Addendum.                                                             
                                                                                                                                                            

	
12.
	
ZONING AND LAND USE: Tenant accepts the Premises subject to all local, state and federal laws, regulations and ordinances ("Laws"). Landlord makes no representation or warranty that Premises are now or in the future will be suitable for Tenant’s use. Tenant has made its own investigation regarding all applicable Laws.

	
13.
	
TENANT OPERATING EXPENSES: Tenant agrees to pay for all utilities and services directly billed to Tenant                            
                                                                                                                                                            

14.PROPERTY OPERATING EXPENSES:

	
 
	
A.
	
Tenant agrees to pay its proportionate share of Landlord's estimated monthly property operating expenses, including but not limited to, common area maintenance, consolidated utility and service bills, insurance, and real property taxes, based on the ratio of the square footage of the Premises to the total square footage of the rentable space in the entire property. See Addendum.                                                                                                                               
                                                                                                                                                                                                                                                       

	
OR
	
B☐ (If checked) Paragraph 14 does not apply.

	
15.
	
USE:The Premises are for the sole use as general office use, software development and other lawful ancillary uses.                                 

No other use is permitted without Landlord's prior written consent. If any use by Tenant causes an increase in the premium on Landlord's existing property insurance, Tenant shall pay for the increased cost. Tenant will comply with all Laws affecting its use of the Premises.

	
16.
	
RULES/REGULATIONS: Tenant agrees to comply with all rules and regulations of Landlord (and, if applicable, Owner's Association) that are at any time posted on the Premises or delivered to Tenant. Tenant shall not, and shall ensure that guests and licensees of Tenant do not, disturb, annoy, endanger, or interfere with other tenants of the building or neighbors, or use the Premises for any unlawful purposes, including, but not limited to, using, manufacturing, selling, storing, or transporting illicit drugs or other contraband, or violate any law or ordinance, or committing a waste or nuisance on or about the Premises.

	
17.
	
MAINTENANCE:

	
 
	
A.
	
Tenant OR ☒ (If checked, Landlord) shall professionally maintain the Premises including heating, air conditioning, electrical, plumbing and water systems, if any, and keep glass, windows and doors in operable and safe condition. Unless Landlord is checked, if Tenant fails to maintain the Premises, Landlord may contract for or perform such maintenance, and charge Tenant for Landlord's cost.

	
 
	
B.
	
Landlord OR ☐ (If checked, Tenant) shall maintain the roof, foundation, exterior walls, common areas and other areas of the Building which are not to be maintained by Tenant or other tenants of the Building.                                                                                                         

	
Landlord's Initials
	
(Joann Wu)
	
 
	
(                     )
	
 
	
 
	
Tenant's Initials
	
(Mitesh Dhruv)
	
 
	
(                     )
	
 

 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	

	
 

	
CL REVISED 12/15  (PAGE 2 of 6)
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
COMMERCIAL LEASE AGREEMENT (CL PAGE 2 OF 6)

	
Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026       www.zipLoqix.com                Ring Central 19

 

 

 

 

	
Premises: 
	
19 Davis Drive, Belmont, CA 94002, as described in Addendum
	
Date 
	
May 17, 2017

	
18.
	
ALTERATIONS: Tenant shall not make any alterations In or about the Premises, including installation of trade fixtures and signs, without Landlord's prior written consent, which shall not be unreasonably withheld. Any alterations to the Premises shall be done according to Law and with required permits. Tenant shall give Landlord advance notice of the commencement date of any planned alteration, so that Landlord, at its option, may post a Notice of Non-Responsibility to prevent potential liens against Landlord's interest in the Premises. Landlord may also require Tenant to provide Landlord with lien releases from any contractor performing work on the Premises.

	
19.
	
GOVERNMENT IMPOSED ALTERATIONS: Any alterations required by Law as a result of Tenant's use shall be Tenant's responsibility. Landlord shall be responsible for any other alterations required by Law.

	
20.
	
ENTRY: Tenant shall make Premises available to Landlord or Landlord's agent for the purpose of entering to make inspections, necessary or agreed repairs, alterations, or improvements, or to supply necessary or agreed services, or to show Premises to prospective or actual purchasers, tenants, mortgagees, lenders, appraisers, or contractors. Landlord and Tenant agree that 24 hours notice (oral or written) shall be reasonable and sufficient notice. In an emergency, Landlord or Landlord's representative may enter Premises at any time without prior notice.

	
21.
	
SIGNS: Tenant authorizes Landlord to place a FOR SALE sign on the Premises at any time, and a FOR LEASE sign on the Premises within the 90 (or ☐           ) day period preceding the termination of the agreement.

	
22.
	
SUBLETTING/ASSIGNMENT: Tenant shall not sublet or encumber all or any part of Premises, or assign or transfer this agreement or any interest in it, without the prior written consent of Landlord, which shall not be unreasonably withheld. Unless such consent is obtained, any subletting, assignment, transfer, or encumbrance of the Premises, agreement, or tenancy, by voluntary act of Tenant, operation of law, or otherwise, shall be null and void, and, at the option of Landlord, terminate this agreement. Any proposed sublessee, assignee, or transferee shall submit to Landlord an application and credit information for Landlord's approval, and, if approved, sign a separate written agreement with Landlord and Tenant. Landlord's consent to any one sublease, assignment, or transfer, shall not be construed as consent to any subsequent sublease, assignment, or transfer, and does not release Tenant of Tenant's obligation under this agreement.

	
23.
	
POSSESSION: If Landlord is unable to deliver possession of Premises on Commencement Date, such date shall be extended to the date on which possession is made available to Tenant. However, the expiration date shall remain the same as specified in paragraph 2. If Landlord is unable to deliver possession within 60 (or ☒    30       ) calendar days after the agreed Commencement Date, Tenant may terminate this agreement by giving written notice to Landlord, and shall be refunded all Rent and security deposit paid.

	
24.
	
TENANT'S OBLIGATIONS UPON VACATING PREMISES: Upon termination of agreement, Tenant shall: (i) give Landlord all copies of all keys or opening devices to Premises, including any common areas; (ii) vacate Premises and surrender it to Landlord empty of all persons and personal property; (iii) vacate all parking and storage spaces; (iv) deliver Premises to Landlord in the same condition as referenced in paragraph 11; (v) clean Premises; (vi) give written notice to Landlord of Tenant's forwarding address; and (vii) Tenant will not be responsible for reasonable wear and tear and damage due to casualty or condemnation.                                 . All improvements installed by Tenant, with or without Landlord's consent, become the property of Landlord upon termination. Landlord may nevertheless require Tenant to remove any such improvement that did not exist at the time possession was made available to Tenant.

	
25.
	
BREACH OF CONTRACT/EARLY TERMINATION: In event Tenant, prior to expiration of this agreement, breaches any obligation in this agreement, abandons the premises, or gives notice of tenant's intent to terminate this tenancy prior to its expiration, in addition to any obligations established by paragraph 24, Tenant shall also be responsible for lost rent, rental commissions, advertising expenses, and painting costs necessary to ready Premises for re-rental. Landlord may also recover from Tenant: (i) the worth, at the time of award, of the unpaid Rent that had been earned at the time of termination; (ii) the worth, at the time of award, of the amount by which the unpaid Rent that would have been earned after expiration until the time of award exceeds the amount of such rental loss the Tenant proves could have been reasonably avoided; and (ill) the worth, at the time of award, of the amount by which the unpaid Rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided. Landlord may elect to continue the tenancy in effect for so long as Landlord does not terminate Tenant's right to possession, by either written notice of termination of possession or by relating the Premises to another who takes possession, and Landlord may enforce all Landlord's rights and remedies under this agreement, including the right to recover the Rent as it becomes due.

	
26.
	
DAMAGE TO PREMISES: If, by no fault of Tenant, Premises are totally or partially damaged or destroyed by fire, earthquake, accident or other casualty, Landlord shall have the right to restore the Premises by repair or rebuilding, If Landlord elects to repair or rebuild, and is able to complete such restoration within 90 days from the date of damage, subject to the terms of this paragraph, this agreement shall remain in full force and effect, if Landlord is unable to restore the Premises within this time, or if Landlord elects not to restore, then either Landlord or Tenant may terminate this agreement by giving the other written notice. Rent shall be abated as of the date of damage. The abated amount shall be the current monthly Base Rent prorated on a 30-day basis. If this agreement is not terminated, and the damage is not repaired, then Rent shall be reduced based on the extent to which the damage interferes with Tenant's reasonable use of the Premises. If total or partial destruction or damage occurs as a result of an act of Tenant or Tenant’s guests, (i) only Landlord shall have the right, at Landlord's sole discretion, within 30 days after such total or partial destruction or damage to treat the lease as terminated by Tenant, and (ii) Landlord shall have the right to recover damages from Tenant.

	
27.
	
HAZARDOUS MATERIALS: Tenant shall not use, store, generate, release or dispose of any hazardous material on the Premises or the property of which the Premises are part. However, Tenant is permitted to make use of such materials that are required to be used in the normal course of Tenant's business provided that Tenant complies with all applicable Laws related to the hazardous materials. Tenant is responsible for the cost of removal and remediation, or any clean-up of any contamination caused by Tenant.

	
28.
	
CONDEMNATION: If all or part of the Premises is condemned for public use, either party may terminate this agreement as of the date possession is given to the condemner. All condemnation proceeds, exclusive of those allocated by the condemner to Tenant's relocation costs and trade fixtures, belong to Landlord.

	
29.
	
INSURANCE: Tenant's personal property, fixtures, equipment, inventory and vehicles are not insured by Landlord against loss or damage due to fire, theft, vandalism, rain, water, criminal or negligent acts of others, or any other cause. Tenant Is to carry Tenants own property insurance to protect Tenant from any such loss. In addition, Tenant shall carry (i) liability insurance in an amount of not less than $ 3,000,000.00        and (ii) property insurance in an amount sufficient to cover the replacement cost of the property if Tenant is responsible for maintenance under paragraph 17B. Tenant's insurance shall name Landlord and Landlord's agent as additional insured. Tenant, upon Landlord's request, shall provide Landlord with a certificate of insurance establishing Tenant's compliance. Landlord shall maintain liability insurance insuring Landlord, but not Tenant, in an amount of at least $ 1,000,000,00      , Plus property insurance in an amount sufficient to cover the replacement cost of the property unless Tenant is responsible for maintenance pursuant to paragraph 17B. Tenant is advised to carry business interruption insurance in an amount at least sufficient to cover Tenant's complete rental obligation to Landlord. Landlord is advised to obtain a policy of rental loss insurance. Both Landlord and Tenant release each other, and waive their respective rights to subrogation against each other, for loss or damage covered by insurance.

 

	
Landlord's Initials
	
(Joann Wu)
	
 
	
(                     )
	
 
	
 
	
Tenant's Initials
	
(                   )
	
 
	
(Mitesh Dhruv)
	
 

 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	

	
 

	
CL REVISED 12/15  (PAGE 3 of 6)
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
COMMERCIAL LEASE AGREEMENT (CL PAGE 3 OF 6)

	
Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026       www.zipLoqix.com                Ring Central 19

 

 

 

 

	
Premises: 
	
19 Davis Drive, Belmont, CA 94002, as described in Addendum
	
Date 
	
May 17, 2017

	
30.
	
TENANCY STATEMENT (ESTOPPEL CERTIFICATE): Tenant shall execute and return a tenancy statement (estoppel certificate), delivered to Tenant by Landlord or Landlord's agent, within 3 days after its receipt. The tenancy statement shall acknowledge that this agreement is unmodified and in full force, or in full force as modified, and state the modifications. Failure to comply with this requirement: (i) shall be deemed Tenant's acknowledgment that the tenancy statement is true and correct, and may be relied upon by a prospective lender or purchaser; and (ii) may be treated by Landlord as a material breach of this agreement. Tenant shall also prepare, execute, and deliver to Landlord any financial statement (which will be held in confidence) reasonably requested by a prospective lender or buyer.

	
31.
	
LANDLORD'S TRANSFER: Tenant agrees that the transferee of Landlord’s interest shall be substituted as Landlord under this agreement. Landlord will be released of any further obligation to Tenant regarding the security deposit, only if the security deposit is returned to Tenant upon such transfer, or if the security deposit is actually transferred to the transferee. For all other obligations under this agreement, Landlord is released of any further liability to Tenant, upon Landlord's transfer.

	
32.
	
SUBORDINATION: This agreement shall be subordinate to all existing liens and, at Landlord's option, the lien of any first deed of trust or first mortgage subsequently placed upon the real property of which the Premises are a part, and to any advances made on the security of the Premises, and to all renewals, modifications, consolidations, replacements, and extensions. However, as to the lien of any deed of trust or mortgage entered into after execution of this agreement, Tenant's right to quiet possession of the Premises shall not be disturbed if Tenant is not in default and so long as Tenant pays the Rent and observes and performs all of the provisions of this agreement, unless this agreement is otherwise terminated pursuant to its terms. If any mortgagee, trustee, or ground lessor elects to have this agreement placed in a security position prior to the lien of a mortgage, deed of trust, or ground lease, and gives written notice to Tenant, this agreement shall be deemed prior to that mortgage, deed of trust, or ground lease, or the date of recording.

	
33.
	
TENANT REPRESENTATIONS; CREDIT: Tenant warrants that all statements in Tenant's financial documents and rental application are accurate. Tenant authorizes Landlord and Broker(s) to obtain Tenant's credit report at time of application and periodically during tenancy in connection with approval, modification, or enforcement of this agreement. Landlord may cancel this agreement: (i) before occupancy begins, upon disapproval of the credit report(s); or (ii) at any time, upon discovering that information in Tenant's application is false. A negative credit report reflecting on Tenant's record may be submitted to a credit reporting agency, if Tenant fails to pay Rent or comply with any other obligation under this agreement.

	
34.
	
CONSTRUCTION-RELATED ACCESSIBILITY STANDARDS: Landlord states that the Premises ☐ has, or ☒ has not been inspected by a Certified Access Specialist. If so, Landlord states that the Premises ☐ has, or ☐ has not been determined to meet all applicable construction-related accessibility standards pursuant to Civil Code Section 55.53.

	
35.
	
DISPUTE RESOLUTION:

	
 
	
A.
	
MEDIATION: Tenant and Landlord agree to mediate any dispute or claim arising between them out of this agreement, or any resulting transaction, before resorting to arbitration or court action, subject to paragraph 35B(2) below. Paragraphs 35B(2) and (3) apply whether or not the arbitration provision is initiated. Mediation fees, if any, shall be divided equally among the parties involved. If for any dispute or claim to which this paragraph applies, any party commences an action without first attempting to resolve the matter through mediation, or refuses to mediate after a request has been made, then that party shall not be entitled to recover attorney fees, even if they would otherwise be available to that party in any such action. THIS MEDIATION PROVISION APPLIES WHETHER OR NOT THE ARBITRATION PROVISION IS INITIALED.

	
 
	
B.
	
ARBITRATION OF DISPUTES: (1) Tenant and Landlord agree that any dispute or claim in Law or equity arising between them out of this agreement or any resulting transaction, which Is not settled through mediation, shall be decided by neutral, binding arbitration, including and subject to paragraphs 35B(2) and (3) below. The arbitrator shall be a retired judge or justice, or an attorney with at least 5 years of real estate transactional law experience, unless the parties mutually agree to a different arbitrator, who shall render an award in accordance with substantive California Law. In all other respects, the arbitration shall be conducted in accordance with Part III, Title 9 of the California Code of Civil Procedure. Judgment upon the award of the arbitrator(s) may be entered In any court having jurisdiction. The parties shall have the right to discovery in accordance with Code of Civil Procedure §1283. 05.

(2) EXCLUSIONS FROM MEDIATION AND ARBITRATION: The following matters are excluded from Mediation and Arbitration hereunder: (i) a judicial or non-judicial foreclosure or other action or proceeding to enforce a deed of trust, mortgage, or installment land sale contract as defined in Civil Code §2985; (ii) an unlawful detainer action; (iii) the filing or enforcement of a mechanic's lien; (iv) any matter that is within the jurisdiction of a probate, small claims, or bankruptcy court; and (v) an action for bodily injury or wrongful death, or for latent or patent defects to which Code of Civil Procedure §337.1 or §337.15 applies. The filing of a court action to enable the recording of a notice of pending action, for order of attachment, receivership, injunction, or other provisional remedies, shall not constitute a violation of the mediation and arbitration provisions.

(3) BROKERS: Tenant and Landlord agree to mediate and arbitrate disputes or claims involving either or both Brokers, provided either or both Brokers shall have agreed to such mediation or arbitration, prior to, or within a reasonable time after the dispute or claim is presented to Brokers. Any election by either or both Brokers to participate in mediation or arbitration shall not result in Brokers being deemed parties to the agreement.

“NOTICE: BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION DECIDED BY NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY. ”

“WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION TO NEUTRAL ARBITRATION.”

 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
Landlord's Initials
	
Joann Wu
	
/
	
 
	
 
	
Tenant's Initials
	
 
	
/
	
Mitesh Dhruv
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

 

	
Landlord's Initials
	
(Joann Wu)
	
 
	
(                     )
	
 
	
 
	
Tenant's Initials
	
(                   )
	
 
	
(Mitesh Dhruv)
	
 

 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	

	
 

	
CL REVISED 12/15  (PAGE 4 of 6)
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
COMMERCIAL LEASE AGREEMENT (CL PAGE 4 OF 6)

	
Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026       www.zipLoqix.com                Ring Central 19

 

 

 

 

	
Premises: 
	
19 Davis Drive, Belmont, CA 94002, as described in Addendum
	
Date 
	
May 17, 2017

 

	
36.
	
JOINT AND INDIVIDUAL OBLIGATIONS: If there is more than one Tenant, each one shall be individually and completely responsible for the performance of all obligations of Tenant under this agreement, jointly with every other Tenant, and individually, whether or not in possession.

 

	
37.
	
NOTICE: Notices may be served by mail, facsimile, or courier at the following address or location, or at any other location subsequently designated:

 

	
Landlord:
	
TG Brothers, LLC
	
 
	
Tenant:
	
RingCentral, Inc.

	
22714 Alcalde Road
	
 
	
20 Davis Drive

	
Cupertino, CA 95014
	
 
	
Belmont, CA 94002

	
 
	
 
	
Attention: Director of Real Estate

	
 
	
 
	
 

 

Notice is deemed effective upon the earliest of the following: (i) personal receipt by either party or their agent; (ii) written acknowledgement of notice; or (iii) 5 days after mailing notice to such location by first class mail, postage pre-paid.

 

	
38.
	
WAIVER: The waiver of any breach shall not be construed as a continuing waiver of the same breach or a waiver of any subsequent breach.

 

	
39.
	
INDEMNIFICATION: Tenant shall indemnify, defend and hold Landlord harmless from all claims, disputes, litigation, judgments and attorney fees arising out of Tenant's use of the Premises.

 

	
40.
	
OTHER TERMS AND CONDITIONS/SUPPLEMENTS:
	
See Addendum.

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

 

			
	
 
	
The following ATTACHED supplements/exhibits are incorporated in this agreement:  ☐
	
Option Agreement (C. A. R. Form OA)

	
 
	
Exhibit "A", Accessibility Addendum (C. A. R. Form CLCA 11/16), and Addendum to Commercial Lease Agreement dated for reference

	
 
	
purposes May 17, 2017 ("Addendum").

 

	
41.
	
ATTORNEY FEES: in any action or proceeding arising out of this agreement, the prevailing party between Landlord and Tenant shall be entitled to reasonable attorney fees and costs from the non-prevailing Landlord or Tenant, except as provided in paragraph 35A.

 

	
42.
	
ENTIRE CONTRACT: Time is of the essence. All prior agreements between Landlord and Tenant are incorporated in this agreement, which constitutes the entire contract. It is intended as a final expression of the parties' agreement, and may not be contradicted by evidence of any prior agreement or contemporaneous oral agreement. The parties further intend that this agreement constitutes the complete and exclusive statement of its terms, and that no extrinsic evidence whatsoever may be introduced in any judicial or other proceeding, if any, involving this agreement. Any provision of this agreement that is held to be invalid shall not affect the validity or enforceability of any other provision in this agreement. This agreement shall be binding upon, and inure to the benefit of, the heirs, assignees and successors to the parties.

 

	
43.
	
BROKERAGE: Landlord and Tenant shall each pay to Broker(s) the fee agreed to, if any, in a separate written agreement. Neither Tenant nor Landlord has utilized the services of, or for any other reason owes compensation to, a licensed real estate broker (individual or corporate), agent, finder, or other entity, other than as named in this agreement, in connection with any act relating to the Premises, including, but not limited to, inquiries, introductions, consultations, and negotiations leading to this agreement. Tenant and Landlord each agree to indemnify, defend and hold harmless the other, and the Brokers specified herein, and their agents, from and against any costs, expenses, or liability for compensation claimed inconsistent with the warranty and representation in this paragraph 43.

 

	
44.
	
AGENCY CONFIRMATION: The following agency relationships are hereby confirmed for this transaction:

 

					
	
 
	
Listing Agent:
	
Brey Management Corp
	
(Print Firm Name) is the agent of (check one):

	
 
	
☒the Landlord exclusively; or ☐ both the Tenant and Landlord.

	
 
	
Selling Agent:
	
 
	
(Print Firm Name) (if not same as Listing Agent) is the agent of (check one):

	
 
	
☐ the Tenant exclusively; or ☐ the Landlord exclusively; or ☐ both the Tenant and Landlord.

Real Estate Brokers are not parties to the agreement between Tenant and Landlord.

 

	
Landlord's Initials
	
(Joann Wu)
	
 
	
(                     )
	
 
	
 
	
Tenant's Initials
	
(Mitesh Dhruv)
	
 
	
(                     )
	
 

 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	

	
 

	
CL REVISED 12/15  (PAGE 5 of 6)
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
COMMERCIAL LEASE AGREEMENT (CL PAGE 5 OF 6)

	
Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026       www.zipLoqix.com                Ring Central 19

 

 

 

 

	
Premises: 
	
19 Davis Drive, Belmont, CA 94002, as described in Addendum
	
Date 
	
May 17, 2017

 

		
	
 
	
Landlord and Tenant acknowledge and agree that Brokers: (i) do not guarantee the condition of the Premises; (ii) cannot verily representations made by others; (iii) will not verily zoning and land use restrictions; (iv) cannot provide legal or tax advice; (v) will not provide other advice or information that exceeds the knowledge, education or experience required to obtain a real estate license. Furthermore, if Brokers are not also acting as Landlord in this agreement, Brokers: (vi) do not decide what rental rate a Tenant should pay or Landlord should accept; and (vii) do not decide upon the length or other terms of tenancy. Landlord and Tenant agree that they will seek legal, tax, insurance, and other desired assistance from appropriate professionals.

 

																												
	
Tenant
	
/s/ Mitesh Dhruv
	
Date
	
 
	
May          , 2017

	
RingCentral, Inc., a Delaware corporation
	
 

	
(Print name)
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Address
	
19 Davis Drive
	
City
	
 
	
Belmont
	
State
	
 
	
CA
	
Zip
	
 94002-3002

	
 
	
 
	
 
	
 
	
 

	
Tenant
	
 
	
Date
	
 
	
 

	
 
	
 

	
(Print name)
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Address
	
 
	
City
	
 
	
 
	
State
	
 
	
 
	
Zip
	
 

 

	
☐
	
GUARANTEE: In consideration of the execution of this Agreement by and between Landlord and Tenant and for valuable consideration, receipt of which is hereby acknowledged, the undersigned ("Guarantor") does hereby: (i) guarantee unconditionally to Landlord and Landlord's agents, successors and assigns, the prompt payment of Rent or other sums that become due pursuant to this Agreement, including any and all court costs and attorney fees included in enforcing the Agreement; (ii) consent to any changes, modifications or alterations of any term in this Agreement agreed to by Landlord and Tenant; and (iii) waive any right to require Landlord and/or Landlord's agents to proceed against Tenant for any default occurring under this Agreement before seeking to enforce this Guarantee.

 

																
	
Guarantor (Print Name)
	
 

	
Guarantor
	
 
	
Date
	
 
	
 

	
Address
	
 
	
 
	
City
	
 
	
 
	
State
	
 
	
 
	
Zip
	
 

	
Telephone
	
 
	
Fax
	
 
	
E-mail
	
 

 

Landlord agrees to rent the Premises on the above terms and conditions.

 

															
	
Landlord
	
/s/ Joann Wu
	
Date
	
 
	
May 23, 2017

	
 
	
(owner or agent with authority to enter into this agreement) TG Brothers, LLC, a California limited liability company

	
Address
	
22714 Alcalde Road
	
City
	
 
	
Cupertino
	
State
	
 
	
CA
	
Zip
	
 95014

	
Landlord
	
 
	
Date
	
 
	
 

	
 
	
(owner or agent with authority to enter into this agreement)

	
Address
	
 
	
City
	
 
	
 
	
State
	
 
	
 
	
Zip
	
 

 

Agency relationships are confirmed as above. Real estate brokers who are not also Landlord in this agreement are not a party to the agreement between Landlord and Tenant.

 

																			
	
Real Estate Broker (Leasing Firm)
	
/s/ David Wei
	
CalBRE Lic. #
	
 
	
01526152

	
By (Agent)
	
/s/ David Wei
	
CalBRE Lic. #
	
 
	
01794487
	
Date
	
 
	
 

	
 
	
David Wei
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Address
	
10430 S De Anza Blvd Ste 280
	
City
	
 
	
Cupertino
	
State
	
 
	
CA
	
Zip
	
95014-3025

	
Telephone
	
(408)725-1700
	
Fax
	
(866)470-3147
	
E-mail
	
info@breymanagement.com

	
 
	
 
	
 
	
 
	
 

	
Real Estate Broker (Leasing Firm)
	
Brey Management Corp
	
CalBRE Lic. #
	
 
	
 

	
By (Agent)
	
 
	
CalBRE Lic. #
	
 
	
 
	
Date
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Address
	
 
	
City
	
 
	
 
	
State
	
 
	
 
	
Zip
	
 

	
Telephone
	
 
	
Fax
	
 
	
E-mail
	
 

 

© 2015, California Association of REALTORS®, Inc. United States copyright law (Title 17 U.S. Code) forbids the unauthorized distribution, display and reproduction of this form, or any portion thereof , by photocopy machine or any other means, including facslrnite or computerized formats.

THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS® ( C.A.R). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR ACCURACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL RSTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

 

	

	
 
	
Published and distributed by:
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
REAL ESTATE BUSINESS SERVICES, INC.
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
a subsidiary of the California Association of REALTORS®
	
 
	
  Reviewed by _____ Date ___________
	
 
	
 
	
 
	

	
 

	
 
	
525 South Virgil Avenue, Los Angeles, California 90020
	
 
	
 
	
 
	
 
	
 

	
CL REVISED 12/15  (PAGE 6 of 6)
	
 
	
 
	
 
	
 
	
 
	
 
	
 

 

 

COMMERCIAL LEASE AGREEMENT (CL PAGE 6 OF 6)

Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026       www.zipLoqix.com                Ring Central 19

 

 

3

	

	
 

COMMERCIAL LEASE CONSTRUCTION

ACCESSIBILITY ADDENDUM

(C.A.R, Form CLCA 11/16)

 
	
 

 

This is an addendum to the Commercial Lease Agreement (lease) dated                       May 17, 2017                       
in which                       TG Brothers, LLC, a California limited liability company                       is referred to as “Landlord”
 and                        RingCentral, Inc., a Delaware corporation                       is referred to as “Tenant”. Paragraph 34 of the lease is deleted in its entirety and replaced by the following; 

 

Paragraph 34.CONSTRUCTION-RELATED ACCESSIBILITY STANDARDS: 

	
A.
	
Landlord states that the Premises ☐ have, or ☐ have not been inspected by a Certified Access Specialist (CASp). 

	
B.
	
If the Premises have been inspected by a CASp, 

	
 
	
(1)
	
Landlord states that the Premises ☐ have or ☐ have not been determined to meet all applicable construction- related accessibility standards pursuant to Civil Code Section 55. 53. Landlord shall provide Tenant a copy of the report prepared by the CASp (and, if applicable a copy of the disability access inspection certificate) as specified below. 

	
 
	
(2)
	
☐ (i) Tenant has received a copy of the report at least 48 hours before executing this lease. Tenant has no right to rescind the lease based upon information contained in the report. 

	
OR 
	
☐ (ii) Tenant has received a copy of the report prior to, but no more than, 48 hours before, executing this lease. Based upon information contained in the report, Tenant has 72 hours after execution of this lease to rescind it. 

	
OR 
	
☐ (iii) Tenant has not received a copy of the report prepared by the CASp prior to execution of this lease. Landlord shall provide a copy of the report prepared by the CASp (and, if applicable a copy of the disability access inspection certificate) within 7 days after execution of this lease. Tenant shall have up to 3 days thereafter to rescind the lease based upon information in the report. 

	
C.
	
If the Premises have not been inspected by a CASp or a certificate was not issued by the CASp who conducted the inspection, 

“A Certified Access Specialist (CASp) can inspect the subject premises and determine whether the subject premises comply with all of the applicable construction-related accessibility standards under state law. Although state law does not require a CASp inspection of the subject premises, the commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of construction-related accessibility standards within the premises. ” 

	
D.
	
Notwithstanding anything to the contrary in paragraph 17, 18, 19 or elsewhere in the lease, any repairs or modifications necessary to correct violations of construction related accessibility standards are the responsibility of Tenant ☐ Landlord ☒ Other  

 

	
Tenant (Signature)
	
/s/ Mitesh Dhruv
	
Date
	
 
	
May     , 2017 

	
 
	
42E324BE3D5547A
	
 
	
 
	
 
	
 
	
 
	
 

	
Tenant (Print name)
	
RingCentral, Inc., a Delaware corporation

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Tenant (Signature)
	
 
	
Date
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Tenant (Print name)
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Landlord (Signature)
	
/s/ Joanne Wu
	
Date
	
 
	
May,23, 2017

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Landlord (Print name)
	
TG Brothers, LLC, a California limited liability company

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Landlord (Signature)
	
 
	
Date
	
 
	
May     , 2017

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Landlord (Print name)
	
 

 

© 2015, California Association of REALTORS®, Inc United States copyright low (Title 17 U.S. Code) forbids the unauthorized distribution, display and reproduction of this form, or any portion thereof, by photocopy machine or any other means, including facsimile or computerized formats. 

THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R) NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR ACCURACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION A REAL RSTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. 

 

	

	
 
	
Published and distributed by:
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
REAL ESTATE BUSINESS SERVICES, INC.
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
a subsidiary of the California Association of REALTORS®
	
 
	
  Reviewed by _____ Date ___________
	
 
	
 
	
 
	

	
 

	
 
	
525 South Virgil Avenue, Los Angeles, California 90020
	
 
	
 
	
 
	
 
	
 

	
CLCA 11/16 (PAGE 1 of 1)
	
 
	
 
	
 
	
 
	
 
	
 
	
 

COMMERCIAL LEASE CONSTRUCTION ACCESSEBILITY ADDENDUM (CLCA PAGE 1 OF 1)

 

Reed Smith, 1901 Avenue of Stars, 700 Las Angeles, CA 90067                Phone: (213) 457-6405                Fax:                 Ring Central 19 
Aaron Hritz                  Produced with zip Form® by zip Logix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com  

 

 

 

 

 

ADDENDUM TO COMMERCIAL LEASE AGREEMENT

This Addendum to Commercial Lease Agreement (“Addendum”) forms an integral part of the printed form Standard Commercial Lease Agreement (C.A.R. Form CL, Revised 12/15), dated for reference purposes only May 17, 2017 (the “Form Lease”) entered between TG Brothers, LLC, a California limited liability company (“Landlord”), and RingCentral, Inc., a Delaware corporation (“Tenant”) demising the Premises which consist of approximately 15,246 rentable square feet located on the West side of the building commonly known and addressed as 19 Davis Drive, Belmont, California (the “Building”). Part A of this Addendum sets forth provisions which modify and supplement the correspondingly numbered and lettered paragraphs of the Form Lease, while part B of this Addendum contains paragraphs which are in addition to those of the Form Lease. Unless otherwise defined herein, capitalized terms used in this Addendum have the meanings given them in the Form Lease. Where provisions of this Addendum are in conflict with the Form Lease, this Addendum shall control. References in the Form Lease and this Addendum to “the Lease,” “this Lease,” and words of similar import shall refer, collectively, to the Form Lease and this Addendum unless otherwise expressly provided or reasonably required by the context of usage. 

A.MODIFICATIONS TO EXISTING PARAGRAPHS OF FORM LEASE 

1.PROPERTY. The Premises consist of approximately 15,246 rentable square feet (“RSF”) located on the West side of the Building, as depicted on Exhibit “A” to this Lease, and the total RSF of the Building is 24,000. Landlord and Tenant stipulate to the number of RSF of the Premises and the Building as stated in the preceding sentence. No variation between the actual RSF and the stipulated RSF shall affect the provisions of this Lease. The RSF shall not be subject to re-measurement absent a physical change in the Premises or the Building. The percentage that the RSF of the Premises bears to the total RSF of the property, as specified in paragraph 1 of the Form Lease, is referred to in this Lease as “Tenant’s Share.” 

2.C.TERM. Landlord grants to Tenant the option to renew the term (the “Renewal Option”) for five (5) years commencing August 1, 2021 and ending July 31, 2026 (the “Renewal Term”). To exercise this Renewal Option, Tenant must deliver written notice of exercise to Landlord by no later than November 1, 2020. All of the terms, covenants and conditions of this Lease shall apply during the Renewal Term, except that (1) the Base Rent for such Renewal Term shall be determined as provided in paragraphs 2.C.(1) through 2.C.(3) below, and (2) Tenant shall have no further right to renew the term. Upon the commencement of the Renewal Term, any reference to the "term of this Lease" or any similar expression shall be deemed to include the Renewal Term. Base Rent for the renewal term shall be determined as follows: 

(1)The Base Rent during the Renewal Term shall be the then Fair Market Rent for the Premises. “Fair Market Rent” shall mean the then prevailing net rent (excluding additional rent for operating expenses, property taxes and utilities), tenants are paying to lease space comparable in size, location and quality to the Premises, in arm’s length transactions for a term comparable to the Renewal Term, taking into consideration all relevant factors to the property. 

(2)Within thirty (30) days after Tenant’s delivery of notice exercising the Renewal Option, Landlord and Tenant shall meet and attempt to agree on the Fair Market Rent for the Renewal Term. If the parties are unable to agree within thirty (30) days after the first such meeting, either Landlord or Tenant, by written notice to the other, may initiate arbitration of the Fair Market Rent as provided in paragraph 2.C.(3) below. 

(3)The party initiating arbitration is referred to as the “Demanding Party” and the other party is referred to as the “Responding Party.” 

(i)In its demand for arbitration, the Demanding Party shall specify the name and address of the person to act as the arbitrator on the Demanding Party's behalf. The arbitrator shall be an MAI appraiser with at least ten (10) years’ experience who is familiar with the Fair Market Rent of office space in the Belmont, California market. Within ten (10) Business Days after the service of the demand for arbitration, the Responding Party shall give notice to the Demanding Party specifying the name and address of the person designated by the Responding Party to act as arbitrator on its behalf, which arbitrator shall be similarly qualified. If the Responding Party fails to notify the Demanding Party of the appointment of its arbitrator within such ten (10) Business Day period, and such failure continues for five (5) Business Days after the Demanding Party delivers a second notice to the Responding Party, then the arbitrator appointed by the Demanding Party shall be the sole arbitrator to determine the Fair Market Rent for the Premises. 

(ii)If two arbitrators are appointed they shall meet within ten (10) Business Days after the second arbitrator is appointed and shall attempt to agree on Fair Market Rent. If within twenty (20) Business Days after the second arbitrator is appointed the two arbitrators are unable to reach agreement on Fair Market Rent, then the two arbitrators shall appoint a third arbitrator, who shall be a competent and impartial person with qualifications similar to those required of the first two arbitrators. If the arbitrators are unable to agree upon such appointment within five (5) Business Days after expiration of such twenty (20) Business Day period, the third arbitrator shall be selected by the parties themselves. If the parties do not agree on the third arbitrator within five (5) Business Days after expiration of the foregoing five (5) Business Day period, then either party, on behalf of both, may petition any judge of the Superior Court of the County of San Mateo to appoint such a qualified person as the third arbitrator. The third arbitrator shall decide the dispute, if it has not been previously resolved, by following the procedures set forth in paragraph 2.C.(3)(iii) below. Each party shall pay the fees and expenses of its respective arbitrator and both shall share the fees and expenses of the third arbitrator. Attorneys’ fees and expenses of counsel and of witnesses for the respective parties shall be paid by the respective party engaging such counsel or calling such witnesses.

 

 

 

US_ACTIVE 133926032.5

 

(iii)Fair Market Rent shall be fixed by the third arbitrator in accordance with the following procedures. Concurrently with the appointment of the third arbitrator, each of the arbitrators selected by the parties shall state, in writing, his or her determination of the Fair Market Rent supported by the reasons therefor. The third arbitrator shall have the right to consult experts and competent authorities for factual information or evidence pertaining to a determination of Fair Market Rent, but any such determination shall be made in the presence of both parties (and their respective arbitrators) with full right on their part to cross-examine. The third arbitrator shall conduct such hearings and investigations as he or she deems reasonably appropriate and shall, within thirty (30) days after being appointed, select which of the two proposed determinations by the first two (2) arbitrators most closely approximates his or her independent determination of Fair Market Rent. The third arbitrator shall have no right to propose a middle ground or any modification of either of the two proposed determinations. The determination he or she chooses as that most closely approximating his or her determination of the Fair Market Rent shall constitute the decision of the third arbitrator and shall be final and binding upon the parties. The third arbitrator shall render the decision in writing with counterpart copies to each party. The third arbitrator shall have no power to add to or modify the provisions of this Lease. Promptly following receipt of the third arbitrator’s decision, the parties shall enter into an amendment to this Lease, evidencing the renewal for the Renewal Term and confirming the Base Rent for the Premises during the Renewal Term, but the failure of the parties to do so shall not affect the effectiveness of the third arbitrator’s determination.

3.A.(4)BASE RENT. The Base Rent schedule for the initial term shall be as follows:

 

	
  July 1, 2017 to July 31, 2018
	
  $42,993.72 per month

	
  August 1, 2018 to July 31, 2019
	
  $45,738. 00 per month

	
  August 1, 2019 to July 31, 2020
	
  $47,110.14 per month

	
  August 1, 2020 to July 31, 2021
	
  $48,523.44 per month

5.EARLY POSSESSION. Tenant shall be entitled to enter upon execution of this Lease for pre-construction activities. However, Tenant shall not commence any construction work in the Premises prior to the Commencement Date except with Landlord’s prior written consent. 

8.PARKING. Tenant shall be provided exclusive use of 57 of the parking spaces for the property, including all of the parking spaces located in the West side parking lot. Tenant may institute in the West side parking lot valet service or tandem parking, at Tenant’s cost, to increase the parking density therein. In addition, Tenant shall have non-exclusive use of parking spaces in the front parking lot adjacent to Tenant’s existing electric vehicle charging stations at 20 Davis Drive. 

11.CONDITION OF PREMISES. Landlord shall deliver the Premises to Tenant in broom clean condition with all Building systems (including HVAC) in good working order, but otherwise the Premises shall be in “as is” and “with all faults” condition. The Building’s common areas, including all elevators, stairwells, exiting areas and access points, lobby areas, parking lots and other exterior areas, shall be in good working order and in compliance with Laws including as required to permit Tenant’s construction of the Tenant Improvements (as defined in paragraph 45 below). 

14.A.PROPERTY OPERATING EXPENSES. Tenant shall pay for separately metered or sub-metered electricity to the Premises Tenant occupies based on Tenant’s actual use. Landlord will provide water, refuse removal and sewer service at Landlord’s expense. Landlord’s costs of performing maintenance under paragraph 17.A which are properly expensed in accordance with generally accepted accounting principles, together with real property taxes and insurance premiums for the Building, shall be property operating expenses for purposes of this Lease. Tenant shall pay Tenant’s Share of the property operating expenses. 

16.RULES/REGULATIONS. Landlord shall enforce the rules and regulations on a uniform and non-discriminatory basis. Landlord shall provide not less than thirty (30) days prior written notice of any change to such rules and regulations. In case of any conflict between this Lease and the rules and regulations, the former shall control. 

 

2

 

17.A.MAINTENANCE. Tenant shall procure and pay for janitorial services to the Premises. Tenant shall at Tenant’s expense perform routine maintenance of the HVAC package units serving the Premises, following delivery of the Premises in the condition required by paragraph 11. Landlord shall be responsible for repairing and replacing the HVAC units at Landlord’s expense. Landlord shall maintain the structural and exterior elements of the Building, including the roof, the parking lot and all other common areas. 

18.ALTERATIONS. Without Landlord’s consent, Tenant may make alterations that: (a) do not require a building permit; (b) are not visible form the exterior of the Building; and (c) do not cost more than 400% of the monthly Base Rent then in effect. 

20.ENTRY. Except in case of emergency, Tenant may require Landlord’s representatives be escorted during entry into any area of the Premises where confidential or proprietary information may be located. 

22.SUBLETTING/ASSIGNMENT. Tenant may, upon notice to Landlord, permit any entity which controls, is controlled by, or is under common control with Tenant, or any entity that merges or consolidates with Tenant, to take an assignment of this Lease or to sublet all or part of the Premises. 

32.SUBORDINATION. If the Building is subject to a mortgage or deed of trust, Landlord shall obtain from the mortgagor or beneficiary a commercially reasonable non-disturbance agreement for Tenant’s benefit. 

B.PARAGRAPHS ADDED TO FORM LEASE 

45.TENANT IMPROVEMENTS. Tenant shall be responsible for constructing all Improvements in the Premises required to ready the Premises for Tenant’s Use (the “Tenant Improvements”). All Tenant Improvements will be constructed pursuant to plans and specifications reasonably approved by Landlord by a contractor selected by Tenant and reasonably approved by Landlord. Tenant will not commence the Tenant Improvements until after the Commencement Date. Landlord shall provide an allowance of $10.00 per RSF ($152,460 total) for the actual cost of the Tenant Improvements, to be in the form of a credit against Base Rent. The credit against Base Rent shall be $37,993.72 for each of the first four months and $485.12 for the fifth month. Tenant shall pay for any costs of the Tenant Improvements in excess of Landlord’s allowance. 

46.RIGHT OF FIRST OFFER TO LEASE. During the term Landlord grants to Tenant a right of first offer to lease (the “Lease ROFO”) with respect to any available space in the Building (the “Lease Offer Space”) Space in the Building shall be available for purposes of this Lease ROFO when any lease existing upon execution of this Lease expires or is terminated early. 

A.Landlord shall deliver to Tenant written notice (the “Lease ROFO Notice”) when any Lease ROFO Space becomes available. The Lease ROFO Notice will describe in reasonable detail the terms upon which Landlord is willing to lease the Lease ROFO Space. If the Lease ROFO Notice is delivered before August 1, 2019, the expiration date for the Lease ROFO Space will be co-terminus with the expiration or earlier termination of this Lease. The rent in the Lease ROFO Notice shall be based upon Landlord’s good faith, informed estimate of the fair market rental value of the Lease ROFO Space. Except as otherwise noted in the Lease ROFO Notice, the amendment adding the Lease ROFO Space to the Premises will be on the same terms and conditions as this Lease. 

B.Within ten (10) business days following delivery of the First Offer Notice, Tenant may notify Landlord that Tenant: (i) accepts the terms in the Lease ROFO Notice; (ii) desires to lease the Lease ROFO Space but proposes different terms; or (iii) does not wish to add the Lease ROFO Space. Tenant’s failure to respond within ten (10) business days shall be deemed its election under clause (iii) of the preceding sentence. 

C.If Tenant delivers a notice under clause (ii) in paragraph 46.B above, such notice shall describe in reasonable detail the terms on which Tenant is prepared to lease the Lease ROFO Space. Within five (5) business days after Landlord’s receipt of such notice the parties shall meet in person to negotiate in good faith the terms for an amendment to this Lease adding the Lease ROFO Space. If the parties are unable agree on such amendment within ten (10) business days after their first meeting, Landlord shall be free to lease the Lease ROFO Space to a third party subject to paragraph 46.D below. 

D.If Landlord does not lease the Lease ROFO Space to a third party within one hundred eighty (180) days after the negotiation deadline under paragraph 46.C above, the Lease ROFO shall be reinstated for the Lease ROFO Space in question. Furthermore, if before such reinstatement of the Lease ROFO Landlord is prepared to lease the Lease ROFO Space to a third party on terms materially more favorable to the third party than those last offered by Landlord to Tenant during the negotiations under paragraph 46.C, Landlord shall give Tenant a new Lease ROFO Notice setting forth such more favorable terms for the Lease ROFO Space and Tenant shall have five (5) business days after receipt to either accept or reject this new 

 

 

3

 

Lease ROFO Notice. As used in this paragraph 46 “materially more favorable” shall mean the net economic terms of the lease offered to a third party are more than five percent (5%) better from such third party’s perspective than the net economic terms last offered to Tenant. 

47.RIGHT OF FIRST OFFER TO PURCHASE. Landlord grants to Tenant a one-time right of first offer to purchase the property (including the land, the Building, all other improvements and appurtenances thereto) (the “Purchase ROFO”) if Landlord elects during the term to sell, transfer or otherwise convey the property. Prior to entering into any legally binding agreement with, or granting any legally binding, unconditional rights to, a third party to purchase or acquire title to the Parcels, Landlord shall notify Tenant (the “Purchase ROFO Notice”). The Purchase ROFO Notice shall set forth in reasonable detail the terms and conditions on which Landlord is prepared to sell the property, including the purchase price, the due diligence period, the closing period, the encumbrances to which title will be subject at closing, material conditions to closing, material closing cost allocations. If requested by Tenant, Landlord also shall provide Tenant with (i) copies of all of Landlord's most recent title reports, surveys, environmental reports, property condition reports, plans, public sector notices, tax assessments and other material, non-proprietary third-party reports, studies, tests and documentation relating to the physical condition of the property, in Landlord's possession or control, and (ii) copies of all leases and contracts that Tenant would be expected to assume upon closing of the sale of the property to Tenant. 

A.To exercise the Purchase ROFO Tenant must notify Landlord in writing (“Tenant's Exercise Notice”) within fifteen (15) business days following Tenant's receipt of the Purchase ROFO Notice of Tenant's exercise of the Purchase ROFO on the terms in Purchase ROFO Notice. Within five (5) business days after Landlord's receipt of Tenant's Exercise Notice, Landlord and Tenant shall meet in person to negotiate in good faith a purchase and sale agreement for the sale of the property to Tenant on the terms set forth in the Purchase ROFO Notice. If the parties are unable to agree upon and execute a purchase and sale agreement within twenty (20) business days after their first meeting, Landlord shall be free to sell the property to a third party subject to paragraph 46.B below. 

B.If Landlord does not sell the property to a third party within one hundred eighty (180) days after the negotiation deadline under paragraph 47. A above, the Purchase ROFO shall be reinstated and Landlord shall not sell the property to a third party without again providing to Tenant a Purchase ROFO Notice. Furthermore, if before such reinstatement of the Purchase ROFO Landlord is prepared to sell the property to a third party on terms materially more favorable to the third party than those last offered by Landlord to Tenant during the negotiations under paragraph 47.A, Landlord shall give Tenant a new Purchase ROFO Notice setting forth such more favorable terms, and Tenant shall have seven (7) business days after receipt of this new Purchase ROFO Notice to accept or reject the terms set forth therein. As used in this paragraph 47 “materially more favorable” shall mean the net economic terms of the purchase and sale of the property offered to a third party are more than five percent (5%) better from such third party’s perspective than the net economic terms last offered for a purchase and sale of the property to Tenant. 

48.FURNITURE. During the term of this Lease, Tenant may use any of the furniture listed on Exhibit “B” to this Lease (the “Existing Furniture”). On or before June 10, 2017, Tenant shall notify Landlord which of the Existing Furniture Tenant desires to use, and Landlord shall remove all of the Existing Furniture Tenant does not wish to use by no later than June 30, 2017. Landlord shall cause any existing tenants to vacate by June 16, 2017 to allow for such removal of the Existing Furniture Tenant does not desire to use. Subtenant shall: (i) accept the Existing Furniture in “AS-IS AND WITH ALL FAULTS” condition as of the Commencement Date; (ii) beginning on the Commencement Date, insure the Existing Furniture against loss or damage by fire or other casualty (and all of the provisions of this Sublease applicable to insurance required to be carried by Subtenant shall be applicable thereto), and (iii) surrender the Existing Furniture to Landlord in the Premises upon the expiration or sooner termination of this Lease in the same condition existing at the Commencement Date, as the same may be affected by reasonable wear and tear or damage by fire or other casualty. 

49.ACCESS. Tenant, its officers, employees, contractors and invitees shall have access to the Building, the Premises, and the exterior parking areas seven (7) days per week, twenty-four (24) hours per day, every day of the year. 

50. [Intentionally omitted]

51.INSTALLATION OF TRENCH. Tenant shall be allowed early access to the property for the purpose of excavating a trench from the east edge of the property line to the east wall of the Building, at a location where there is an existing Building penetration, and installing in the trench two (2) two inch conduits for redundant fiber connectivity between the Building and the building commonly known and addressed as 20 Davis Drive, Belmont, CA. The trench will be located entirely within dirt and Tenant shall, at its sole cost, properly fill-in the trench with compacted soil and restore all landscaping (including plants and flowers) to substantially the same condition as existing prior to excavation of the trench. 

 

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52.COUNTERPARTS: DIGITAL SIGNATURES. This Lease may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Executed copies of this Lease transmitted by facsimile or in PDF format shall be fully binding and effective upon receipt, but each party promptly shall deliver to the other an execution copy of this Lease bearing an original signature. 

IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Addendum concurrently with their execution of the Form Lease, intending to be bound by all terms, covenants and provisions of this Lease.

 

	
Landlord:
	
 
	
Tenant:
	
 

	
 
	
 
	
 
	
 

	
TG Brothers, LLC,
	
 
	
RingCentral, Inc.,
	
    DS

	
a California limited liability company
	
 
	
a Delaware corporation
	

	
 
	
 
	
 
	
 
	
 

	
By:
	
 /s/ Joann Wu
	
 
	
By:
	
 /s/ Mitesh Dhruv
	
 

	
 
	
 
	
 
	
 
	
 
	
    DS

	
May 23, 2017
	
 
	
May_, 2017
	

	
 
	
 
	
6/ 2/ 2017

	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
    DS

	
 
	
 
	
 
	

	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
    DS

	
 
	
 
	
 
	

	
 
	
 
	
 

	
 
	
 
	
 

 

 

 

5

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