Document:

Document

EXHIBIT 10.1

October 15, 2020 

Edmund Reese
New York, NY

Dear Edmund:

Congratulations! It is my pleasure to extend you a conditional offer of employment for the position of Chief Financial Officer of Broadridge Financial Solutions, Inc. (the “Company” or “Broadridge”) reporting to Tim Gokey, CEO.  Subject to approval of the Broadridge Board of Directors, you will be appointed a Corporate Officer with the title of Corporate Vice President. This position will be based in our office located at 5 Dakota Drive, Lake Success, New York.  Your anticipated start date, assuming you satisfy the pre-conditions of employment, will be November 30, 2020, or such other date as we find mutually agreeable.
I wanted to take this opportunity to highlight some of the compensation and benefit packages currently available to executive officers, along with various Company policies currently applicable to executive officers. The descriptions of the policies and plans in this letter do not provide all of their terms, and they are subject to the terms and conditions of the actual plan documents or policies, as in effect from time to time. Current versions of some of the policies are attached to this letter. The plans and policies may be amended from time to time or terminated, as set forth in the applicable plan or policy documents.
Please note that your participation in the following Corporate Officer plans, benefits and perquisites described in this offer letter is subject to your appointment as a Corporate Officer by Broadridge's Board of Directors: the officer annual performance-based cash incentive award; the Change in Control Severance Plan; the Officer Severance Plan; the Executive Auto Program; the corporate officer benefits under the Executive Retirement and Savings Plan, and Matching Gift Program.

Base Salary

Your initial annual base salary will be $600,000. Your monthly salary will be paid on the 25th of each month. You will be eligible to participate in Broadridge's annual performance appraisal process and merit review cycle.

Officer Annual Performance-Based Cash Incentive Award (Bonus)

Subject to the approval of the Compensation Committee of the Broadridge Board of Directors (the "Compensation Committee" ), you will be eligible for an annual performance-based cash incentive award (“Officer Bonus”) beginning for fiscal year 2021 (July 1, 2020 to June 30, 2021). Your fiscal year 2021 Officer Bonus target will be 85% of your base salary, which will be capped at 150% of target for fiscal year 2021.  Because your start date will be after the commencement of the 2021 fiscal year, you will be eligible for a pro-rated Officer Bonus for fiscal year 2021 based on the number of days you are employed by Broadridge divided by 365.

The Officer Bonus award will be payable following completion of the fiscal year and you must be employed with Broadridge on June 30th of the closing fiscal year to be eligible to receive any award. Any such award will be paid by September 15th of the following fiscal year, subject to any deferral elections. Currently for 
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each year, the Compensation Committee sets a performance goal threshold that establishes the entry point for a bonus to be paid.  If the threshold attainment is not met, Officer Bonuses will not be paid to the executive officers.

If the threshold attainment is met, an Officer Bonus will be determined by the Compensation Committee in its discretion, taking into account financial and non-financial performance of the Company, your individual performance, recommendations from the Chief Executive Officer, and any other factors the Compensation Committee deems relevant, limited to the maximum award amount. The financial metrics for this component of your bonus will be consistent with all other Corporate Officers in Shared Services roles and will be established by the Compensation Committee.

Within 60 days of your start date, you will be required to have completed, in conjunction with your manager, a written performance plan including personal performance objectives in connection with your cash incentive award that you will have to achieve for the balance of the fiscal year.

Annual Equity Grants

As an executive officer, you will be eligible to receive annual equity awards under the terms of the Broadridge 2018 Omnibus Award Plan or any successor thereto (the "Omnibus Plan"), subject to the approval of the Compensation Committee. As described below, the CEO will recommend to the Compensation Committee that you receive $1,750,000 in target value (as determined by the Compensation Committee) of annual equity awards during fiscal year 2022, split equally between performance-based restricted stock units ("PRSUs") and stock options. The terms of such fiscal year 2022 awards will be as described in the Omnibus Plan and the applicable award agreements and will be consistent with the terms of the other corporate officer annual equity awards.
•PRSUs: Grants are currently scheduled to be made annually in October of each year, with the number of PRSUs based on target values that are reviewed and approved annually by the Compensation Committee. Your fiscal year 2022 annual grant will have a target value of approximately $875,000 (as determined by the Compensation Committee), to be made in October 2021 and will vest in April 2024 subject to achieving pre-established performance conditions, so long as you remain continuously employed with Broadridge through the vesting date. Under the current plan, PRSU awards can pay out between 0% to 150% of the applicable target PRSUs, based on the Company's achievement of its earnings per share financial goals over the two-year performance period.

•Stock Options: Grants are currently scheduled to be made annually in February of each year, with the number of options based on target values that are reviewed and approved annually by the Compensation Committee.  Your fiscal year 2022 stock option grant will have a target value of approximately $875,000 (as determined by the Compensation Committee), to be granted in February 2022. The exercise price per share of the stock options will be equal to the fair market value per share of Broadridge stock on the date of grant, and the term of the stock option will be as set forth in the applicable stock option agreement.  Under the current plan this award will vest 25% per year over four years, so long as you remain continuously employed with Broadridge through the vesting dates, subject to the conditions set forth in the applicable award agreement

You will receive award agreements that you will be expected to electronically accept shortly after the grant date, which will contain the full terms and conditions of these grants including exercise price (in the case of the stock options), vesting and termination provisions. Your receipt of these awards will be subject to your acceptance of certain restrictive covenants including non-competition, non-solicitation and confidentiality 
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covenants included in the award agreements. The Company reserves the right to amend or terminate this equity program at any time.

One-Time At-Hire PRSU Grant

In addition to the annual PRSU award mentioned above, subject to approval by the Compensation Committee, Broadridge management will recommend that a one-time at-hire PRSU grant be made to you in November 2020 (or as soon as practicable after your hire date) under the terms of the Omnibus Plan with an expected target value of approximately $100,000 (as determined by the Compensation Committee). The number of PRSUs awarded to you will be based on the average closing price of Broadridge common stock for the 30 days prior to the date the materials describing this award are distributed to the Compensation Committee. On April 1, 2023, the PRSUs you hold from this grant will vest, and will convert to shares of Broadridge common stock; so long as you remain continuously employed with Broadridge throughout the vesting period in order to vest in any of the PRSUs, subject to the conditions set forth in the applicable award agreement.  PRSU awards can pay out between 0% to 150% of the applicable target PRSUs, based on the Company's achievement of its earnings per share financial goals over the two-year performance period.

You will receive a PRSU agreement that you will be expected to electronically accept shortly after the grant date, which will contain the full terms and conditions of this grant. Your receipt of this award will be subject to your acceptance of certain restrictive covenants including non-competition, non-solicitation and confidentiality covenants included in the award agreement.

One-Time At-Hire Restricted Stock Unit (“RSU”) Grant

Subject to approval by the Compensation Committee, Broadridge management will recommend that a one-time at-hire “RSU” grant be made to you in November 2020 (or as soon as practicable after your hire date) under the terms of the Omnibus Plan with an expected target value of approximately $275,000 (as determined by the Compensation Committee). The number of RSUs awarded to you will be based on the average closing price of Broadridge common stock for the 30 days prior to the date the materials describing this award are distributed to the Compensation Committee. On February 1, 2022, the RSUs you hold from this grant will vest, and will convert to shares of Broadridge common stock; so long as you remain continuously employed with Broadridge throughout the vesting period in order to vest in any of the RSUs, subject to the conditions set forth in the applicable award agreement.

You will receive an RSU agreement that you will be expected to electronically accept shortly after the grant date, which will contain the full terms and conditions of this grant. Your receipt of this award will be subject to your acceptance of certain restrictive covenants including non-competition, non-solicitation and confidentiality covenants included in the award agreement.

One-Time At-Hire Stock Option Grant

In addition to the annual stock option award mentioned above, subject to approval by the Compensation Committee, Broadridge management will recommend that a one-time at-hire stock option grant be made to you in February 2021 under the terms of the Omnibus Plan with an expected target value of approximately $375,000 (as determined by the Compensation Committee). This award will vest 25% per year over four years, so long as you remain continuously employed with Broadridge through the vesting date, subject to the conditions set forth in the applicable award agreement.  The exercise price per share of the stock options will be equal to the fair market value per share of Broadridge stock on the date of grant, and the term of the stock option will be as set forth in the applicable stock option agreement.

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You will receive a Stock Option agreement that you will be expected to electronically accept shortly after the grant date, which will contain the full terms and conditions of this grant. Your receipt of this award will be subject to your acceptance of certain restrictive covenants including non-competition, non-solicitation and confidentiality covenants included in the award agreement.

One-Time At-Hire Cash and RSU Awards 

In addition to the equity awards mentioned above, and in consideration of the awards you will forfeit with your current employer, subject to approval by the Compensation Committee, Broadridge management will recommend that one-time at-hire cash and RSU awards be made to you under the terms of the Omnibus Plan, with an expected target value of approximately $1,730,467 (as determined by the Compensation Committee):
•You will be paid a one-time at-hire cash bonus of $528,000, less applicable withholding taxes.  This at-hire cash bonus will be made on February 28, 2021.  In the event your employment with Broadridge is terminated either by Broadridge for “cause” (as defined in the Officer Severance Plan) or you voluntarily terminate your employment within twelve months of February 28, 2021, you will return to Broadridge by your termination date the full at-hire cash bonus paid by Broadridge.  
•You will receive a one-time at-hire RSU grant under the Omnibus Plan, with a total target value equal to $1,202,467 (as determined by the Compensation Committee).  We expect the RSU award to be granted in November 2020 (or as soon as practicable after your hire date). These grants will vest, subject to the conditions set forth in the applicable award agreement, as follows:
◦$153,040 on January 31, 2021;
◦$378,179 on February 28, 2021;
◦$427,668 on January 31, 2022; and
◦$243,580 on January 31, 2023.

The number of RSUs awarded to you will be based on the average closing price of Broadridge common stock for the 30 days prior to the date the materials describing this award are distributed to the Compensation Committee.  You will receive an RSU agreement that you will be expected to electronically accept shortly after the grant date, which will contain the full terms and conditions of this grant. Your receipt of this award will be subject to your acceptance of certain restrictive covenants including non-competition, non-solicitation and confidentiality covenants included in the award agreement.

Note that the One-Time At-Hire Cash and RSU awards noted in this section are contingent upon certain payments being forfeited at your current employer.  In the event these circumstances change and these payments are not forfeited, the amounts noted above will decrease accordingly.  

Benefits and Perquisites
Broadridge provides its executive officers with a qualified 401(k) plan, and health and welfare benefits on the same terms as those offered to other employees. You will also be eligible to participate in the Executive Auto Program which currently provides for a car allowance or lease in the approximate amount of $15,000 per year.

You will be eligible to participate in the Broadridge Executive Retirement and Savings Plan (“ERSP”). The ERSP is a nonqualified retirement plan designed to complement Broadridge's 401(k) plan by providing additional tax-deferred savings and offering additional earnings opportunities on your investments. You will 
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become eligible to elect Salary and Bonus Deferrals into the ERSP on the first day of the quarter following your hire date. Once you have completed six months of service, you will become eligible to receive Company Contributions on compensation earned in excess of the IRS compensation limits.

In addition, the Broadridge Foundation, a charitable foundation established and funded by the Company, provides up to $10,000 per calendar year in matching of charitable contributions made by executive officers to qualified tax-exempt organizations.

You are eligible to participate in the Executive Retiree Health Insurance Plan if you retire after you have attained the age of 55 and have been credited with at least 10 years of service. This plan is a post-retirement benefit plan pursuant to which the Company helps defray your health care costs until you reach the age of 65.

You will accrue up to 4 weeks of vacation and 3 personal holidays annually.  In addition, there are generally 9 paid holidays per calendar year.   

Confidentiality Agreement

In consideration of this offer of employment, you agree to execute the Employee Confidentiality Agreement attached to this letter as Attachment A.

Code of Business Conduct and Ethics &
Code of Ethics for Principal Executive Officer and Senior Financial Officers

As the CFO, you will be subject to the requirements of the Broadridge Code of Ethics for Principal Executive Officer and Senior Financial Officers as well as the Code of Business Conduct and Ethics, as in effect from time to time.  The current versions of these Codes are attached to this letter as Attachments B and C.

Change in Control Severance Plan and Officer Severance Plan
As an executive officer, you will be eligible to participate in the Change in Control Severance Plan (the "CIC Plan") and the Officer Severance Plan, as such plans may be in effect from time to time, if your employment terminates as set forth in the applicable plan documents. The CIC Plan currently provides executive officers of the Company protection in the event of a qualifying termination within the applicable protection period following a change in control of the Company.  The Officer Severance Plan currently provides for severance benefits when an executive officer is terminated without "cause" as defined in the Officer Severance Plan (but without duplication of benefits under the CIC Plan).

Clawback Policy

As an executive officer, you will be subject to Broadridge's Clawback Policy, as in effect from time to time, which provides for reimbursement by an executive officer of all or part of cash or equity incentive-based compensation. 

A copy of the current version of this policy is provided in Attachment D for your review.

Pre-Clearance and Insider Trading Policy and Prohibition on Hedging and Pledging
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The Broadridge pre-clearance and insider trading policy recognizes that in the course of performing their duties, executive officers have access to Material Nonpublic Information relating to Broadridge or other companies (as defined in the policy) and sets out the restrictions on trading in securities while in possession of such information.

A copy of the current version of this policy is provided in Attachment E for your review.

Regulation FD Policy

The SEC’s Regulation FD- Fair Disclosure requires that the Company provide fair disclosure of material nonpublic information concerning the Company and not provide any advantage to any particular securities market professional, analyst or investor.  In that regard, our Regulation FD Policy provides that only the Chief Executive Officer, President, Chief Financial Officer, General Counsel and members of the Investor Relations staff are authorized to communicate on behalf of Broadridge to securities market professionals, analysts or investors, and also provides other requirements Broadridge employees are required to comply with in order to ensure Broadridge’s compliance with Regulation FD.  

A copy of the current version of this policy is provided in Attachment F for your review. 

Stock Ownership and Retention and Holding Period Guidelines

The Company's stock ownership guidelines reinforce the goal of increasing Broadridge equity ownership in order to more closely align executive officer interests with those of our stockholders. Under the ownership guidelines, as currently in effect, you are expected to hold a number of shares of Broadridge common stock with a total equity value equal to at least 3 times your annual base salary. This calculation is performed as of June 30th each year.

A copy of the current version of this policy is provided in Attachment G for your review.

Section 409A
It is intended that this letter will comply with Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), and any regulations and guidelines promulgated thereunder (collectively, "Section 409A"), to the extent this letter is subject thereto, and this letter shall be interpreted on a basis consistent with such intent. Notwithstanding any provision to the contrary, if you are deemed on the date of your "separation from service" (within the meaning of Treas. Reg. Section  1.409A-1(h)) with Broadridge to be a "specified employee" (within the meaning of Treas. Reg. Section  1.409A-1(i)), then with regard to any payment or benefit under any severance, deferred compensation or other plan, program or arrangement of Broadridge or its affiliates that is considered deferred compensation under Section 409A payable on account of a "separation from service" that is required to be delayed pursuant to Section 409A(a)(2)(B) of the Code (after taking into account any applicable exceptions to such requirement), such payment or benefit shall be made or provided on the date that is the earlier of (i) the expiration of the six (6)-month period measured from the date of your "separation from service," or (ii) the date of your death (the "Delay Period”).  Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this paragraph (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to you in a lump sum and any remaining payments and benefits due will be paid or provided in accordance with the normal payment dates specified for them. With respect to any reimbursement or in-kind benefit arrangements of Broadridge and its subsidiaries that constitute deferred compensation for purposes of Section 409A, except as otherwise permitted by Section 409A, the following conditions shall be applicable: (i) the amount eligible for reimbursement, or in-kind benefits provided, under any such arrangement in one calendar year may not affect the amount eligible for 
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reimbursement, or in-kind benefits to be provided, under such arrangement in any other calendar year (except that the health and dental plans may impose a limit on the amount that may be reimbursed or paid), (ii) any reimbursement must be made on or before the last day of the calendar year following the calendar year in which the expense was incurred, and (iii) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. Whenever payments under this letter are to be made in installments, each such installment shall be deemed to be a separate payment for purposes of Section 409A. Notwithstanding any provision of this letter to the contrary, for purposes of any provision of this letter providing for the payment of any amounts or benefits upon or following a termination of employment that are considered deferred compensation under Section 409A, references to your "termination of employment" (and corollary terms) with Broadridge shall be construed to refer to your "separation from service" (within the meaning of Treas. Reg. Section 1.409A-1(h)) with Broadridge.  In no event whatsoever shall Broadridge or its affiliates be liable for any additional tax, interest or penalties that may be imposed on you by Section 409A or any damages for failing to comply with Section 409A.

Terms

Any cash incentive awards, bonuses, equity awards, and benefits described in this letter are subject to the terms and conditions of the applicable plan documents and award agreements. Compensation of the Company’s executive officers including any cash incentive awards, bonus payments and equity grants is subject to approval of the Compensation Committee, is not guaranteed and is subject to change or modification, elimination and/or replacement by an alternate program due to business conditions.

Your employment is “at will.” This means that your employment is for no definite period of time, and either you or the Company may terminate your employment at any time, with or without cause or notice.  You agree that you will comply with the terms of all written codes of conduct and policies adopted by the Company, including without limitation, Broadridge’s Code of Ethics for Principal Executive Officer and Senior Financial Officers, and the Broadridge Code of Business Conduct and Ethics as such codes and policies are in effect from time to time.

In accordance with our policy, this offer is contingent upon successfully meeting our pre-employment conditions involving a drug test, criminal background check and verification of employment with your previous and current employer(s).  Please advise Broadridge once you have given notice.  Enclosed you will find several items which outline our pre-employment screening process.     

You will also receive the I-9 form required by the U.S. Government.  In order to comply with the Immigration Reform and Control Act of 1986, you will need to provide documents that establish your identity and authorization to work in the United States.  Please review the I-9 form for a list of acceptable documents and have these documents available on your first day of employment. In the interim, should you have any questions, please contact me directly.

You hereby represent and warrant to the Company that (a) the execution, delivery and performance of this letter by you does not and will not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which you are a party or by which you are bound, and (b) you are not a party to, or bound by, any employment agreement, noncompetition agreement, non-solicitation agreement, confidentiality agreement or similar agreement with any other person or entity.  Please be reminded that Broadridge does not want you to use or bring with you at any time, any confidential information, trade secrets and/or proprietary information from any of your former employers.

This letter and the attachments referenced herein constitute the complete understanding between you and the Company concerning the subject matter(s) addressed, and they supersede any prior oral or written understanding regarding the terms and conditions of your employment with Broadridge.  No oral modifications to the commitments made herein shall be valid.  Any changes to these terms must be in writing and signed by you and an authorized representative of Broadridge. 
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The amount of any payment made to you by Broadridge will be reduced by any required taxes, withholdings, and other authorized employee deductions as may be required by law or as you have elected under the applicable benefit plans.

If any provision of this letter is invalid or unenforceable, the balance of this letter shall remain in effect.  This letter shall be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to the principles of conflict of laws thereof.  Unless settlement of a dispute by arbitration is otherwise provided for in an applicable plan or agreement (which arbitration provision shall apply), any lawsuits arising out of or in connection with this letter shall be brought in the Supreme Court of New York, New York County, or in the Federal District Court for the Southern District of New York.  Each party hereby consents to the jurisdiction and venue of such courts.  You acknowledge that the terms of this letter are reasonable and that you have had a reasonable opportunity to consult with an attorney before agreeing to the terms of this letter.  

We think you will find Broadridge to be an exciting and dynamic place to work.  We hope that you will consider our offer carefully and make the decision to join our team at Broadridge

Sincerely,

/s/ Tim Gokey    
          Tim Gokey
Chief Executive Officer

I accept the offer as stated above:

/s/ Edmund Reese            Date: 10/16/2020    
         Edmund Reese

8EX-10.1

 Exhibit 10.1 

PURCHASE AND SALE AGREEMENT 

THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is entered into as of January 29, 2021 (the
“Effective Date”) by and between NORTHFIELD I, LLC, an Ohio limited liability company (“Seller”), and KRYSTAL BIOTECH, INC., a Delaware corporation (“Purchaser”), and, solely
with respect to Articles VII, XIV and XVI, AL. NEYER, LLC, an Ohio limited liability company (“Neyer”). Seller, Purchaser and (solely with respect to Articles XIV and XVI, Neyer) are
sometimes individually referred to herein as a “Party” and, collectively, as the “Parties”. 

RECITALS 

A. Seller is the ground lessee under that certain Ground Lease Agreement dated as of December 26, 2019 (the
“Ground Lease”) with The Allegheny County Airport Authority, a body politic organized under the Municipal Authorities Act of 1945 (“Ground Lessor”), pursuant to which Ground Lessor leases to Seller,
and Seller leases from Ground Lessor, certain land situate in the Township of Findlay, County of Allegheny and Commonwealth of Pennsylvania, as more fully described in the Ground Lease, a legal description of which is attached hereto as Exhibit
A (the “Land”), which Land is a portion of the land leased to Ground Lessor by the County of Allegheny (“County”), as landlord (and fee owner), per an agreement entitled Airport Operation,
Management and Transfer Agreement and Lease dated as of September 16, 1999 (as amended, “AOMTA”), for certain land situate in Allegheny County. 

B. Pursuant to that certain Lease Agreement dated as of December 26, 2019, as amended by that certain First Amendment to
Lease Agreement dated as of January 17, 2020, that certain Second Amendment to Lease Agreement dated August 12, 2020, that certain Third Amendment to Lease Agreement dated as of December 14, 2020, that certain Fourth Amendment to
Lease Agreement dated as of January 7, 2021, that certain Fifth Amendment to Lease Agreement dated as of January 22, 2021 and that certain Sixth Amendment to Lease Agreement of even date herewith (as amended, the
“Lease”) between Seller, as landlord, and Purchaser, as tenant, Seller has agreed to lease to Purchaser, and Purchaser has agreed to lease from Seller, a building and related improvements to be constructed by and on behalf of
Seller on the Land, as more fully described in the Lease. 
 C. Pursuant to Section 25 of the Lease, Purchaser has
exercised the Purchase Option (as defined in the Lease) to purchase all of Seller’s right, title and interest in and to the Property (as defined below). 

D. Seller desires to sell, assign and transfer to Purchaser, and Purchaser desires to purchase from Seller, all of
Seller’s right, title and interest in and to the Property, all in the manner set forth hereinbelow. 
 NOW, THEREFORE,
in consideration of the mutual covenants set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows with the intent to be legally
bound: 

  
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 ARTICLE I 

THE PROPERTY 

Section 1.01 The Property. Seller shall sell, convey, transfer, assign and
deliver to Purchaser, and Purchaser shall purchase and accept from Seller, in accordance with the terms and conditions of this Agreement, all of the following (collectively referred to as the “Property”) free and clear of all
charges, claims, community property interests, pledges, conditions, equitable interests, liens (statutory or other), options, security interests, rights of first refusal, or restrictions of any kind (collectively,
“Encumbrances”), but subject to Permitted Encumbrances (as defined below): 
 (a) Seller’s
leasehold interests in the Ground Lease, together with (subject in all respects to any credit to Seller at Closing that is required pursuant to Section 12.03(b) below) all security deposits, prepaid rents, charges and
similar items thereunder which are attributable to periods after the Closing (as defined below), and all of Seller’s rights, privileges, easements and rights of way appurtenant to the Land, including without limitation, all development rights,
air rights and water rights (collectively, the “Leasehold Interests”); 
 (b) All of Seller’s
right, title and interest in and to that certain building that is currently being constructed on the Land in accordance with the terms of the Lease (the “Building”), and all improvements, fixtures, apparatus and facilities
used to provide services to the Building previously constructed, being constructed, or yet to be constructed on the Land (such items, together with the Building, are collectively referred to herein as the “Improvements”), all
as more fully described in the Lease; 
 (c) All of Seller’s right, title and interest in all equipment, machinery,
heating, plumbing, ventilation and air conditioning (HVAC) systems and carpet, tile, floor coverings, security devices, sprinkler systems, built-in audio systems, keys, and all other tangible personal property
situated on or otherwise used in connection with the Improvements, as and to the extent owned by Seller, including, without limitation, all of the items set forth on Schedule 1.01(c) attached hereto (collectively, the “Personal
Property”); 
 (d) All of Seller’s right, title and interest in all intangible rights which are appurtenant
to the Improvements, including, without limitation, all (i) utility contracts, (ii) warranties (e.g., in respect of the roof and HVAC systems serving the Building) issued with respect to any portion of the Improvements,
(iii) Seller’s rights to receive or recover property or damages on a cause of action under any warranty related to the Improvements, (iv) licenses, permits, consents, authorizations, approvals, variances, registrations and
certificates issued by any federal, state, county, city, municipal or other governmental or quasi-governmental department, agency, authority, court or other body (each, an “Authority” and, collectively,
“Authorities”) with respect to the operation of all or any portion of the Land, the Improvements or both, or the construction or operation of all or any portion of the Land, the Improvements or both, that are required by any
Law (as defined below) affecting the Property on the Closing Date to be held in the name of the ground lessee under the Ground Lease (collectively, the “Licenses and Permits”), together with any deposits made by Seller or its
agents thereunder, to the extent such Licenses and Permits and deposits are transferable and for which Seller will receive a credit from Purchaser at Closing in 

  
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accordance with Section 12.03(b) below, and (v) plans and specifications (whether in AutoCAD, electronic or other format), blue prints, architectural plans,
engineering diagrams, surveys and similar items which relate to and are to be used only for the Land or the Improvements (the “Plans and Specifications”), to the extent prepared by or on behalf of Seller; a list of such items
being set forth on Schedule 1.01(d) attached hereto (collectively, the “Intangible Property”); 

(e) All rights, title and interest of Seller in and to each contract or agreement related to the operation of any portion of
the Land or the Improvements which are in effect between Seller, on one hand, and a third-party (whether an Affiliate of Seller or otherwise), on the other hand, including, without limitation, all of the items set forth on Schedule 1.01(e)
attached hereto (inclusive of any amendments and/or modifications thereto, collectively, the “Contracts”) which Purchaser elects (in its sole discretion) to assume in connection with the transactions contemplated by this
Agreement (the “Assumed Contracts”), provided that Purchaser notifies Seller prior to the end of the Due Diligence Period of its selection of Assumed Contracts; and 

(f) All other property, assets, rights or interests owned and assignable or held and assignable by Seller which are necessary
to the ownership of any or all of the Leasehold Interests, the Improvements, Intangible Property, the Personal Property, the Licenses and Permits, Plans and Specifications or the Assumed Contracts (collectively, the “Miscellaneous
Assets”). 
 Section 1.02 Nature of Sale. Except as expressly
set forth in this Agreement to the contrary, and subject in all respects to Articles V and XIV hereof), Purchaser is expressly purchasing the Property in its existing condition, “AS IS, WHERE IS, AND WITH ALL FAULTS” and,
except as expressly set forth in this Agreement, based upon the condition (physical or otherwise) of the Property as of the Effective Date. 

ARTICLE II 
 PURCHASE
PRICE AND DEPOSIT
 Section 2.01 Purchase Price. Purchaser shall pay
Seller the sum of NINE MILLION THREE HUNDRED NINETY-TWO THOUSAND THREE HUNDRED FIFTY-NINE AND 01/100 DOLLARS ($9,392,359.01) (the “Purchase Price”) for the Property, subject to such
apportionments, adjustments and credits as are provided in Article VIII below. The Purchase Price shall be allocated among the Leasehold Interests, the Improvements, the Personal Property, the Intangible Property, the Licenses and Permits,
the Plans and Specifications, the Assumed Contracts and the Miscellaneous Assets in the manner set forth on Schedule 2.01 attached hereto; provided, however, that if Schedule 2.01 is not completed on the Effective Date,
the Parties shall complete Schedule 2.01 during the Due Diligence Period (as defined below). 

Section 2.02 Payment of Purchase Price. Purchaser shall pay the Purchase Price
as follows: 
 (a) The sum of One Hundred Eighty Thousand and No/100 Dollars ($180,000.00)
(“Deposit”) will be paid to the Title Company (as defined herein) within two (2) Business Days after the Effective Date of this Agreement, to be applied to the Purchase Price at Closing; and 

  
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 (b) The balance of the Purchase Price, adjusted to reflect prorations and
other adjustments pursuant to Article XII below, shall be paid to Seller on the Closing Date, simultaneously with the delivery of Seller’s closing documents contemplated in Section 9.01 below, by federal funds
wire transfer of immediately available funds to an account at such bank or banks as shall be designated by Seller by notice to Purchaser at least two (2) Business Days prior to the Closing Date. 

Section 2.03 Deposit. The Deposit shall be held by the Title Company in an
escrow account per the terms of that certain Escrow Agreement attached hereto as Exhibit B, to be applied to the Purchase Price at Closing. If the Closing does not occur because any condition of this Agreement is not satisfied or waived, the
Deposit shall be promptly distributed per the terms of this Agreement. 
 ARTICLE III 

DUE DILIGENCE 

Section 3.01 Due Diligence Materials. To the extent not provided to Purchaser
prior to the Effective Date hereof, within three (3) Business Days after the Effective Date, Seller shall deliver, cause to be delivered, or otherwise make available to Purchaser, the following materials related to the Property to the extent in
the possession of Seller or any of its Affiliates or to the extent that Seller can obtain the same without material cost or expense (collectively, the “Due Diligence Materials”): (a) a copy of any title policy insuring
Seller’s Leasehold Interests and all endorsements thereto; (b) any survey of the Land prepared for Seller since the time it acquired the Leasehold Interests; (c) copies of all Plans and Specifications for the Improvements;
(d) copies of all environmental reports, engineering reports, soil reports, and other professional reports or surveys; (e) copies of all warranties comprising a portion of the Intangible Property; (f) a copy of all Licenses and
Permits; (g) copies of all Contracts; (h) copies of the current property tax assessment and all real estate and other ad valorem tax bills for calendar year 2020 and calendar 2021 year-to-date (if available); (i) all information related to common area maintenance charges related to the Land and the development known as “Northfield Industrial Park” surrounding the Land (and of
which the Land is a part); and (j) copies of all material correspondence with the Ground Lessor. 

Section 3.02 Other Information. Seller shall provide Purchaser, within three
(3) Business Days of its receipt of a written request from Purchaser, with electronic access to Seller’s non-confidential property management and operations files with respect to the Property, to the
extent that such exist, and any additional information reasonably requested by Purchaser, for review and copying by Purchaser. In addition, Seller shall promptly and in good faith, comply with any reasonable request by Purchaser prior to Closing
for: (a) any updates to the information or documents described in Section 3.01 above; (b) any document, within Seller’s (or any of its Affiliates’) possession, pertaining to the Property, although not
included within the documents described in Section 3.01 above; and (c) other information within Seller’s (or any of its Affiliates’) knowledge pertaining to the Property. 

  
 4 

 Section 3.03 Due Diligence
Period. Commencing on the Effective Date hereof through the date which is thirty (30) days thereafter (the “Due Diligence Period”), Purchaser shall have the opportunity to review the Property (including
conducting such tests, studies, surveys and other physical inspections of the Property as Purchaser deems necessary or appropriate) and all information relating thereto (the “Inspections”). Purchaser’s Inspections may
encompass such matters as, without limitation, title and survey (as further provided in Section 6.01 below), environmental conditions, soil conditions, access, traffic patterns, economic feasibility, platting, zoning and
matters involving cooperation with any Authority; provided, however, that any invasive testing or environmental Phase II studies will require prior written approval by Seller. If Purchaser is dissatisfied with the Property for any
reason or no reason whatsoever, then Purchaser shall have the right to terminate this Agreement upon written notice to Seller delivered at any time prior to 11:59 p.m. Eastern Time on the last day of the Due Diligence Period, in which event this
Agreement shall terminate, the Deposit shall be promptly returned to Purchaser, and the Parties shall have no further liability hereunder (except with respect to those obligations hereunder which survive the termination of this Agreement). In the
event Purchaser does not so notify Seller of its election to terminate this Agreement prior to 11:59 p.m. Eastern Time on the last day of the Due Diligence Period, Purchaser shall be deemed to have elected to proceed to Closing, subject to the terms
and conditions of this Agreement. If Purchaser elects to terminate this Agreement as provided in this paragraph, this Agreement shall terminate, the Deposit shall be promptly returned to Purchaser, and the Parties shall have no further liability
hereunder (except with respect to those obligations hereunder which survive the termination of this Agreement). 

Section 3.04 Purchaser’s Access. At any time
prior to the Closing , subject to Section 3.05 below, Purchaser and its agents, employees, consultants, inspectors, appraisers, engineers and contractors (collectively,
“Purchaser’s Representatives”) shall have the right to enter upon and pass through the Property during normal business hours to examine and inspect the same, as well as conduct reasonable
tests, studies, investigations, and surveys to assess utility availability, soil conditions, environmental conditions, physical condition, and the like of the Property; provided, however, that any invasive testing or environmental
Phase II studies will require prior written approval by Seller. 
 Section 3.05 Purchaser’s
Right to Inspect. 
 (a) In conducting the Inspections or otherwise accessing the Property, Purchaser shall at all
times comply with all Laws and maintain insurance in commercially reasonable types and amounts and (upon Seller’s request) provide evidence of same to Seller prior to Purchaser’s or Purchaser’s Representatives’ first entry onto
the Property to conduct any Inspection. In connection with such Inspections, neither Purchaser nor any of Purchaser’s Representatives shall: (i) unreasonably interfere with or permit unreasonable interference with any individual, entity,
trust, unincorporated organization, Authority or any other form of entity (each, a “Person”) performing work upon the Improvements; or (ii) subject to the provisions set forth below in
Section 3.05(b) below, damage the Property. Seller may, from time to time, establish reasonable rules of conduct for Purchaser and Purchaser’s Representatives in furtherance of the foregoing. Notwithstanding the
foregoing, upon reasonable prior written notice and request from Purchaser, Seller shall notify any workmen at the Land and permit Purchaser to view any portion of the Property. 

  
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 (b) Purchaser shall schedule and coordinate all Inspections or other access
thereto with Seller and shall give Seller at least 24 hours’ prior notice thereof. Seller shall be entitled to have a representative present at all times during each such inspection or other access. Purchaser agrees to pay to Seller promptly
upon demand the reasonable cost of repairing and restoring any damage or disturbance which Purchaser or Purchaser’s Representatives shall cause to the Property, and Purchaser shall hold Seller and Seller’s Affiliates harmless from any loss
or expense arising from its inspection and activities on the Property, other than any damage or losses caused by or resulting from: (i) any acts or omissions of Seller or a Seller Related Party (each, a “Seller
Condition”); or (ii) any pre-existing, dangerous, illegal, or defective condition of the Property previously known to Seller (each, a
“Pre-existing Condition”). All inspection fees, appraisal fees, engineering fees, and other costs and expenses of any kind incurred by Purchaser or Purchaser’s Representatives
relating to such inspection and its other access shall be at the sole expense of Purchaser. 
 (c) The provisions of this
Section 3.05 shall survive the Closing or any termination of this Agreement. 

Section 3.06 Indemnification of Seller. Purchaser agrees to indemnify and hold
Seller and its Affiliates, and each of their respective disclosed or undisclosed, direct and indirect shareholders, officers, directors, trustees, partners, principals, members, employees, agents, affiliates, representatives, consultants,
accountants, contractors, and attorneys or other advisors, and any successors or assigns of the foregoing (each, a “Seller Related Party” and, collectively with Seller, the “Seller Related Parties”)
harmless from and against any and all losses, costs, damages, liens, claims, liabilities, or expenses (including, but not limited to, Seller’s or any Seller Related Party’s reasonable third-party attorneys’ fees, court costs and
disbursements but excluding consequential and indirect damages) incurred by any Seller Related Parties arising from or by reason of Purchaser’s or Purchaser’s Representatives’ access to, or Inspections of, the Property, except to the
extent such losses, costs, damages, liens, claims, liabilities, or expenses are caused by a Seller Condition or a Pre-existing Condition. As used herein, the term “Affiliate” means
(i) any Person which directly or indirectly controls, is under common control with or is controlled by any other Person or (ii) any ownership (direct or indirect) by one Person of two percent (2%) or more of the ownership interests of
another Person. For purposes of this definition, “controls”, “under common control with” and “controlled by” each mean the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of such Person, whether through the ownership of voting securities or otherwise. The provisions of this paragraph shall survive for a period of three (3) months following the Closing or earlier termination of this
Agreement. 

  
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 ARTICLE IV 

TITLE MATTERS AND REVIEW 

Section 4.01 Title Insurance; Permitted Encumbrances; Title Objections. 

(a) Purchaser shall, promptly after it executes this Agreement, order: (i) a preliminary title report covering the
Leasehold Interests (the “Title Commitment”), issued by a nationally recognized title company of Purchaser’s choosing (the “Title Company”), together with copies of all documents referred to as
exceptions therein (the “Title Documents” and, together with the Title Commitment, collectively, the “Title Report”); and (ii) if desired by Purchaser, a survey of the Land and the existing
Improvements (the “Survey”), and promptly after receipt thereof, deliver copies thereof to Seller. At the Closing and as a condition to Purchaser’s obligations under this Agreement, the Title Company shall issue to
Purchaser, and Purchaser shall accept (at Purchaser’s expense), without payment of an extraordinary premium, an ALTA form Owner’s Policy of leasehold title insurance, with coverage in an amount not less than the Purchase Price, with
commercially reasonable endorsements (at Purchaser’s expense) insuring Purchaser’s leasehold title to the Leasehold Interests and the Improvements, subject only to the Permitted Encumbrances (the “Title Insurance
Policy”). 
 (b) The Property shall be sold, assigned, and conveyed by Seller to Purchaser, and Purchaser shall
accept and assume same, subject only to the following matters (collectively, the “Permitted Encumbrances”): 

(i) The Ground Lease; 

(ii) All real estate taxes and water and sewer charges not due and payable as of the Closing Date, subject to
adjustment as hereinafter provided; 
 (iii) Any applicable statute, law, ordinance, rule, regulation, order
of court, requirement or code, including, without limitation, those regarding zoning, building, fire, health, safety, zoning, environmental, subdivision, water quality, sanitation controls, and accessibility (each, a “Law”
and collectively, “Laws”) affecting the Property on the Closing Date; 
 (iv) Rights,
if any, relating to the construction and maintenance in connection with any public utility wires, poles, pipes, conduits, and appurtenances thereto, on, under or across the Property, provided none of the foregoing: (A) prohibit or impair
Purchaser’s intended use of the Property; (B) prohibit or interfere with the construction, maintenance or operation of any portion of the Improvements; (C) impose any financial or other obligations on Purchaser; or (D) render
title unmarketable; 
 (v) All violations of building, fire, sanitary, environmental, housing, and
similar Laws whether or not noted or issued at the date hereof or as of the Closing Date; 

(vi) Consents by Seller or any current or former owner or ground lessee of the Land for the erection of
any structure or structures on, under or above any street or streets on which the Property may abut; 

(vii) Possible minor encroachments and/or projections of stoop areas, roof cornices, window trims, vent
pipes, cellar doors, steps, columns and column bases, flue pipes, signs, piers, lintels, window sills, fire escapes, satellite dishes, protective netting; sidewalk sheds, ledges, fences, coping walls (including retaining walls and yard walls), air-conditioners, and the like, if any, on, under or above any street or highway, the Land or any adjoining property; 

  
 7 

 (viii) Minor variations between tax lot lines and lines
of record title; 
 (ix) The standard conditions and exceptions to title contained in the form of title
policy or “marked-up” title commitment issued to Purchaser by the Title Company; 

(x) Any Encumbrances or other title exceptions approved or waived by Purchaser as provided in this
Agreement; 
 (xi) Any other matter which the Title Company may raise as an exception to title, provided
the Title Company will insure against collection or enforcement of same out of the Property (for both Purchaser and Purchaser’s third-party grantee) without additional cost to Purchaser, and/or that no prohibition of the present use or
maintenance of the Property will result therefrom, as may be applicable; and 
 (xii) Any Encumbrances
arising out of the acts or omissions of Purchaser. 
 (c) No later than five (5) days prior to the expiration of the Due
Diligence Period, Purchaser may provide Seller with written objections (each, a “Title Objection” and, collectively, “Title Objections”) to those matters (except for the Permitted Encumbrances) shown
in: (i) Schedule B of the Title Commitment; (ii) any search included in the Title Report; (iii) the Title Documents; or (iv) the Survey. Except for those items which Seller is obligated to cure pursuant to the terms of this
Agreement, any such matter not the subject of a timely Title Objection shall be deemed a Permitted Encumbrance. Notwithstanding anything to the contrary contained herein, Purchaser shall have no need to object to any Mandatory Title Removal Item (as
defined below), which Mandatory Title Removal Items shall be automatically deemed Title Objections pursuant to this Section 4.01. 

Section 4.02 Seller Unable to Convey. 

(a) Seller shall use commercially reasonable efforts to eliminate all Title Objections by the Closing Date. 

(i) If Seller is unable to eliminate any Title Objection (other than Mandatory Title Removal Items) by the
scheduled Closing Date, Seller shall provide written notice of same to Purchaser and then, unless the same is waived by Purchaser in writing, in its sole and absolute discretion, Purchaser may: (x) accept the Property subject to such Title
Objection(s) with no adjustment to the Purchase Price, in which event: (A) such Title Objection shall be deemed to be, for all purposes, a Permitted Encumbrance; (B) Purchaser shall close hereunder notwithstanding the existence of same;
and (C) Seller shall have no obligations whatsoever after the then-scheduled Closing Date with respect to Seller’s failure to cause such Title Objection to be eliminated; or (y) terminate this Agreement upon notice to Seller within
three (3) Business Days following Seller’s written notice or the then-scheduled Closing Date, whichever is later, time being of the essence, in 

  
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which event Seller shall be obligated to reimburse Purchaser for Purchaser’s Costs (as defined below). If Purchaser shall fail to deliver the termination notice in accordance with clause
(y) of this paragraph, Purchaser shall be deemed to have made the election under clause (x) of this paragraph, and the Parties shall promptly proceed to Closing, time being of the essence. Upon the timely giving of any termination notice
under clause (y) of this paragraph, this Agreement shall terminate and neither Party shall have any further rights or obligations hereunder other than those which are expressly provided to survive the termination hereof. 

(ii) Notwithstanding anything to the contrary contained herein, if Seller is unable to eliminate the Title
Objections (other than Mandatory Title Removal Items) by the scheduled Closing Date, unless the same are waived by Purchaser, pursuant to the terms of Section 4.02(a)(i) above, Seller may, upon at least three
(3) Business Days’ prior written notice to Purchaser, adjourn the Closing Date for a period not to exceed thirty (30) days, in order to attempt to eliminate such Title Objections. If Seller shall have adjourned the Closing Date in
order to cure Title Objections in accordance with the provisions of this paragraph, Seller shall, upon the satisfactory cure thereof, promptly reschedule the Closing Date, upon at least five (5) Business Days’ prior written notice to
Purchaser. 
 (b) Notwithstanding anything in this Section 4.01 to the contrary, Seller shall be
required to cause to be released, satisfied, and removed of record as of the Closing Date: (i) any Title Objections which have been voluntarily recorded or otherwise placed, or permitted to be placed, by Seller against the Property on or
following the Effective Date hereof; and (ii) any mortgages, deeds of trust, security instruments, financing statements, or other instruments which evidence or secure indebtedness, judgments, and liens against the Property, including, without
limitation, mechanics’ liens, tax liens and real estate taxes, water rates, and sewer rents and taxes, in each case, which are due and payable but which remain unpaid and/or of record as of the Closing Date (subclauses (i) and (ii),
collectively, “Voluntary Liens”); and (iii) any Title Objections which would not constitute Voluntary Liens, but which can be removed by the payment of a liquidated sum of money (items set forth in this subclause (iii),
collectively, “Monetary Liens”; and, together with the Voluntary Liens, “Mandatory Title Removal Items”). Seller shall be obligated to take any such action as is required on the part of Seller to have
such Monetary Liens removed from the Title Report by the Title Company. If Seller fails to discharge and remove of record any Mandatory Title Removal Items on or prior to the Closing Date, at Purchaser’s election, such failure shall constitute
a failure of a closing condition pursuant to Article X below and Purchaser shall be entitled to the remedies set forth in Article XIII below. 

ARTICLE V 
 SELLER’S
REPRESENTATIONS AND WARRANTIES 
 The matters set forth in this Article V constitute representations and
warranties by Seller, made as of the Effective Date, and which are now and shall continue to be true, complete and correct up to and including the Closing Date. As used herein, the phrase “Seller’s
Knowledge” means the actual knowledge, after reasonable inquiry, of Michael E. Goldstrom and Ron Masztak. Seller hereby represents and warrants to Purchaser that: 

  
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 Section 5.01 Organization and
Authority. Seller is a limited liability company duly formed and in good standing under the laws of the State of Ohio and has the requisite power and authority to enter into and to perform the terms of this Agreement. The execution
and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by all requisite action of Seller. This Agreement constitutes, and each document and instrument contemplated by this Agreement
(collectively, the “Transaction Documents”) to be created and delivered by Seller, when executed and delivered, shall constitute the legal, valid, and binding obligation by Seller, enforceable against Seller in accordance
with its respective terms (subject to bankruptcy, reorganization and other similar Laws affecting the enforcement of creditors’ rights generally). 

Section 5.02 No Conflicts; Consents. The execution, delivery and performance by
Seller of this Agreement and the other Transaction Documents to which it is or shall be a party, and the consummation of the transactions contemplated hereby and thereby, do not and will not: (a) conflict with or result in a violation or breach
of, or default under, any provision of the organizational documents of Seller; (b) conflict with or result in a violation or breach of any provision of any Law applicable to Seller or the Property; or (c) require the consent, notice or
other action by any other Person. 
 Section 5.03 Title; Ground Lease. 

(a) Seller has a validly existing and enforceable leasehold interest in the Land, and otherwise holds good and marketable title
to the remainder of the Property. Seller has not assigned or conveyed any interest in, to or under the Property to any Person. No Person has a right to acquire any interest in or to any of the Property (or, if such Person has such a right it has
waived such right), other than Purchaser pursuant to this Agreement. The Property will be free of all Encumbrances (other than Permitted Encumbrances) at the Closing. No Person other than Seller (as ground lessee), Ground Lessor or Purchaser are or
shall be in possession of, or entitled to possession of, the Land or any other portion of the Property. All sums payable by reason of any labor or materials heretofore furnished with respect to the Property have been paid and, to Seller’s
Knowledge, there is no dispute in connection therewith. 
 (b) (i) The Ground Lease is presently in full force and
effect and is a legal, valid, binding obligation of Seller and, to Seller’s Knowledge, the Ground Lessor, enforceable in accordance with its terms (as such enforcement may be limited by bankruptcy, insolvency, reorganization, arrangement,
moratorium or other similar laws relating to or affecting the rights of creditors generally, or by general equitable principles); (ii) neither Seller nor any Affiliate of Seller has received any written notice claiming a default under the Ground
Lease that remains uncured, nor has there occurred any event which, with the passage of time or the giving of notice, or both, would constitute a default by Seller under the Ground Lease; (iii) to Seller’s Knowledge, the Ground Lessor is
not in default under the Ground Lease, nor are there circumstances which, to Seller’s Knowledge, with or without the giving of notice or the passage of time, or both, would constitute a default by the Ground Lessor under the Ground Lease;
(iv) Seller has not received any notice (whether written or oral) from Ground Lessor terminating the Ground Lease or advising Seller of Ground Lessor’s intention to terminate the Ground Lease; (v) neither Ground Lessor nor any other
Person has an option (or, if such Person has such a right it has waived such right) to 

  
 10 

 
purchase the Property or any portion thereof; (vi) all contingencies set forth in the Ground Lease (whether in favor of Ground Lessor or Seller as ground lessee) have been fully satisfied or
waived in writing; (vii) the Ground Lease does not prohibit the execution, delivery or performance of this Agreement or the transactions contemplated hereby; (viii) Seller has delivered to Ground Lessor a security deposit to Ground Lessor
in the amount of $41,077.08 (the “Ground Lease Security Deposit”), equal to six months of Base Rent under the Ground Lease, in accordance with the terms of the Ground Lease, which amount shall remain on-hand with Ground Lessor following the Closing for Purchaser’s benefit as the ground lessee under the Ground Lease and for which Seller will receive a credit from Purchaser at Closing in accordance with the
terms set forth in Section 12.03(b) hereof; (ix) there are no parties with any right to possession of the Property or any part thereof other than Seller as ground lessee under the Ground Lease; and (x) all amounts
owed by Seller under the Ground Lease have been paid in full. 
 Section 5.04 No Judgments;
Litigation. There are no judgments outstanding and unsatisfied against or otherwise affecting Seller or the Property. Neither Seller nor the Property is involved in any investigation, claim, litigation or any other proceeding before
any Authority, whether relating to the transactions contemplated hereby or otherwise and, to Seller’s Knowledge, no such litigation or proceeding is threatened or pending but not yet served. 

Section 5.05 Solvency. Seller: (i) has not filed any voluntary or had
involuntarily filed against it in any court or with any governmental body pursuant to any statute either of the United States or of any State, a petition in bankruptcy or insolvency or seeking to effect any plan or other arrangement with creditors,
or seeking the appointment of a receiver; (ii) has not had a receiver, conservator, or liquidating agent or similar Person appointed for all or a substantial portion of its assets; (iii) has not suffered the attachment or other judicial
seizure of all, or substantially all of its assets; (iv) has not given notice to any Person of insolvency; (v) has not made an assignment for the benefit of its creditors or taken any other similar action for the protection or benefit of
its creditors; or (vi) is not insolvent or will be rendered insolvent by the performance of any obligations under this Agreement or any of the other Transaction Documents, or by the consummation of the transactions contemplated hereby or
thereby. 
 Section 5.06 Compliance with Laws. The Property complies with all
Laws of all Authorities having jurisdiction over, against or affecting the Property. Seller has not received written notice of any violations of any Law in respect of the Property. All Licenses and Permits necessary or required for completing the
construction of the Improvements have been unconditionally and finally issued and paid for and are in full force and effect in accordance with the respective terms thereof. A full list of such Licenses and Permits are set forth on Schedule
1.01(d) attached hereto. To Seller’s Knowledge, no additional permits, licenses, consents, approvals, permits, authorizations, variances, certificates or other requirements of any Authority are needed with respect to the Property in order
to consummate the transactions contemplated by this Agreement or any of the other Transaction Documents, other than a final certificate of occupancy to be obtained by Purchaser upon completion of the Tenant’s Work (as defined in the Lease).

  
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 Section 5.07 Environmental Matters. 

(a) Neither Seller nor any of Seller’s Affiliates, nor, to Seller’s Knowledge, any other Person who has occupied or
used the Property under or through Seller or any of its Affiliates, has generated, used, processed, treated, stored, released or disposed of any Hazardous Substances (as hereinafter defined) thereon, and no Hazardous Substances are present on the
Property. As used in this Agreement the term “Hazardous Substance” means any substance which constitutes, in whole or in part, a pollutant, contaminant or toxic or hazardous substance or waste under, or the generation, use,
processing, treatment, storage, release, transport or disposal of which is regulated by, any Law. 
 (b) To Seller’s
Knowledge, there are no underground or above ground storage tanks on or under the Land, whether in use or abandoned, and no such tanks have been removed during Seller’s control, use or occupancy of the Land except in strict compliance with all
Laws regarding such removal. 
 (c) Prior to the Effective Date, Seller has delivered to Purchaser true, correct and complete
copies or original of any and all reports, studies, written commentaries, test results, and investigations in Seller’s possession and/or under its control, relating to the environmental condition of the Property. 

Section 5.08 Real Estate Taxes. As of the Effective Date, the Land and the
Improvements consist of a single tax lot (Parcel ID Number 923-H-250) and no other real property or improvements is located within such tax lot. Prior to the Effective
Date, Seller has provided to Purchaser true, correct and complete copies of all real estate tax bills for the Property in respect of calendar year 2020 and calendar 2021
year-to-date (if available). Said bills are the only real estate tax bills that apply to the Property and do not cover or apply to any other property. No application or
proceeding is pending with respect to a reduction of the taxes on the Property. There are no tax abatements or exemptions affecting the Property. No assessments or special assessments for public improvements or otherwise have been levied or are now
affecting the Property. To Seller’s Knowledge, there are no pending or threatened special assessments affecting the Property. There are no monies owed by Seller to any Authority for water charges, sewer rents, vault taxes, or any other such
charges relating to any portion of the Property, except as may be shown on the Title Commitment and will be paid by Seller at or prior to the Closing. 

Section 5.09 Flood Zone. The Improvements are not located within any area
determined to be flood-prone under the Federal Flood Protection Act of 1973 
 Section 5.10
Utilities. All public utilities currently serving the Improvements and public and quasi-public improvements upon or adjacent to the Property (including, without limitation, all applicable electric lines, water lines, gas lines, and
telephone lines): (a) are adequate to service the requirements of the Property and Purchaser’s intended use of the Property, and all payments for the same have been made through the Effective Date hereof; (b) enter the Land directly
through adjoining public streets and do not pass through adjoining private land; and (c) are installed and operating and all installation and connection charges have been paid for in full. 

  
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 Section 5.11 Sewage Facilities
Notice. Under the terms of the Pennsylvania Sewage Facilities Act of January 24, 1966, No. 537. P.L. 1535 as amended, Seller represents that a community sewage system currently exists and is available to the Improvements.

 Section 5.12 Zoning; Access; Development Rights. The Land and Improvements
are zoned “HI – Heavy Industrial”. To Seller’s Knowledge, the Land and Improvements are in compliance with all applicable zoning ordinances. To Seller’s Knowledge, (i) the streets, roads, highways and avenues in front
of or adjoining any part of the Land have been dedicated to the proper municipal authority, and (ii) such municipal authority has accepted such dedication. Seller has not transferred any development rights applicable to the Property. To
Seller’s Knowledge, the Property is not encumbered by a declaration or other agreement transferring any development rights or air rights appurtenant to the Property to any other property. 

Section 5.13 Condemnation; Eminent Domain. There is no pending or, to
Seller’s Knowledge, contemplated or threatened condemnation or eminent domain proceedings against Seller or the Property or any part thereof. 

Section 5.14 Contracts. There are no Contracts affecting Seller or the
Property, except for those set forth on Schedule 1.01(e) attached hereto. Except for the Assumed Contracts, each of the Contracts can and will be terminated by Seller prior to the Closing. Seller has performed all of its obligations under
each of the Contracts and no fact or circumstance has occurred which, by itself or with the passage of time or the giving of notice or both, would constitute a default by any party under any of the Contracts. Seller has delivered to Purchaser true,
correct and complete copies of all Contracts prior to the Effective Date. 
 Section 5.15
Contractor Guaranties and Warranties. Seller has provided to Purchaser, prior to the Effective Date, true, correct and complete copies of all contractors’ or subcontractors’ warranties relating to any portion of
the Improvements at Property, and all agreements, amendments, guarantees, side letters, and other documents relating specifically to such warranties, and (other than warranties related to any portion of Tenant’s Work for which Purchaser and
Neyer have separately contracted) there are no other such documents or agreements, whether written or oral, a full list of which are set forth on Schedule 1.01(d) attached hereto. 

Section 5.16 No Foreign Persons. Neither Seller nor its Manager is a
“foreign person” within the meaning of Section 1445 of the Internal Revenue Code of 1986, as amended, or any regulations promulgated thereunder (collectively, the “Code”). 

Section 5.17 Compliance with Anti-Terrorism and Anti-Money Laundering Laws.
Seller is not currently identified on the U.S. Treasury Department Office of Foreign Assets Control (“OFAC”) list of prohibited persons or is a person with whom a citizen of the United States is prohibited from engaging in
transactions by any trade embargo, economic sanction or other prohibition of U.S. law, regulation or executive order of the President of the United States. 

Section 5.18 No Material Adverse Effect. To Seller’s Knowledge, there is
no fact or condition which materially and adversely affects the business, operations, affairs, properties, or condition of Seller or the Property, which has not been set forth in this Agreement or in the other documents, certificates or written
statements furnished to Purchaser in connection with the transactions contemplated hereby. 

  
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 Section 5.19 Landlord’s Construction Warranties (from
Section 7(b) of the Lease). 
 (a) Landlord’s Work has been constructed in a good and
workmanlike manner, in compliance with the Plans and Specifications (as defined in the Lease) and the same are and shall remain free of all defects. 

(b) All paved areas of the Property are and shall remain free of defects in construction. 

Section 5.20 Survival. Seller’s representations and warranties set forth
in this Article V shall survive the Closing for a period of twelve (12) months following the Closing Date (except (i) Section 5.19(a) above, which shall survive the Closing for a period of twelve
(12) months following the date of Substantial Completion of Landlord’s Work and (ii) Section 5.19(b) above, which shall survive the Closing for a period of eighteen (18) months following the date of
Substantial Completion of Landlord’s Work). 
 ARTICLE VI 

PURCHASER’S REPRESENTATIONS AND WARRANTIES 

The matters set forth in this Article VI constitute representations and warranties by Purchaser, made as of the Effective
Date, and which are now and shall continue to be true, complete and correct up to and including the Closing Date. Purchaser hereby represents and warrants to Seller that: 

Section 6.01 Organization and Authority. Purchaser is a corporation duly
organized, validly existing and in good standing under the laws of the State of Delaware. Purchaser has full corporate power and authority to enter into this Agreement and the other Transaction Documents to which Purchaser is a party, to carry out
its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. Purchaser’s execution and delivery of this Agreement and any other Transaction Documents to which Purchaser is a party, the performance
by Purchaser of its obligations hereunder and thereunder and the consummation by Purchaser of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of Purchaser. This Agreement has
been duly executed and delivered by Purchaser and (assuming due authorization, execution, and delivery by each other party hereto) this Agreement constitutes a legal, valid, and binding obligation of Purchaser, enforceable against Purchaser in
accordance with its terms. When each of the Transaction Documents to which Purchaser is or will be a party has been duly executed and delivered by Purchaser (assuming due authorization, execution and delivery by each other party thereto), such
Transaction Documents will constitute legal and binding obligations of Purchaser enforceable against Purchaser in accordance with its terms. 

Section 6.02 No Conflicts; Consents. The execution, delivery and performance by
Purchaser of this Agreement and the other Transaction Documents to which Purchaser is a party, and the consummation of the transactions contemplated hereby and thereby, do not and will not: (a) conflict with or result in a violation or breach
of, or default under, any provision of the organizational documents of Purchaser; (b) conflict with or result in a violation or breach of any provision of any Law applicable to Purchaser; or (c) require the consent, notice or other action
by any other Person. 

  
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 Section 6.03 No Judgments;
Litigation. There are no judgments presently outstanding and unsatisfied against or otherwise affecting Purchaser, and Purchaser is not presently involved in any investigation, claim, litigation or any other proceeding before any
Authority, in either case which relate to the transactions contemplated hereby or otherwise would prevent Purchaser from consummating the transactions contemplated by this Agreement. 

ARTICLE VII 
 COVENANTS

 Section 7.01 Seller Parties’ Affirmative
Covenants. The Seller Parties covenant to Purchaser that, from and after the Effective Date and until the Closing, the Seller Parties shall, at their sole cost and expense: 

(a) prior to Closing, cause (i) all Landlord’s Work (as defined in the Lease) to be Substantially Completed, subject
to Punch List Items (as defined in the Lease), as required under the Lease, and (ii) the Stormwater Facilities (as defined in the Ground Lease) to be completed as required under the Ground Lease; 

(b) timely perform their respective obligations under the Ground Lease, all loan documents under which Seller’s
obligations are secured by any of the Property, and all other Contracts relating to the Property; 
 (c) terminate all
Contracts other than the Assumed Contracts; 
 (d) pay all utility and other service charges related to the Property which
are accrued through the Closing Date; 
 (e) promptly pay in full, as and when due, all contractors, suppliers and others who
have performed services or labor or have supplied materials in connection with the Seller Parties’ development of the Property, and all liens arising therefrom have been or by Closing will be satisfied and released or affirmatively insured over
by the Title Company; 
 (f) maintain in full force and effect the insurance policies currently in effect with respect to the
Property (or replacements continuing similar coverage); 
 (g) promptly deliver to Purchaser any notice received by either of
the Seller Parties or any of their respective Affiliates regarding (i) any claim, action, suit, litigation, arbitration or other proceeding, notice of violation, or judgment, (ii) any Hazardous Substances, (iii) the Ground Lease,
(iv) any actual or threatened condemnation, and (v) any correspondence received from any Authority; in each case to the extent any of the foregoing affect or otherwise relate to Seller or any of the Property; and 

  
 15 

 (h) make their respective personnel available to Purchaser at reasonable
times and upon reasonable notice in connection with inspection of the Property, and otherwise cooperate with any lender from whom Purchaser seeks to obtain financing, as reasonably may be required or requested by Purchaser or any prospective lender
to Purchaser, in connection with the consummation of the transactions contemplated by this Agreement and the other Transaction Documents. 

Section 7.02 Seller’s Negative Covenants. The Seller Parties covenant to
Purchaser that, from and after the Effective Date and until the Closing, unless otherwise expressly permitted by Section 7.01 above or otherwise consented to in writing by Purchaser (which consent may be withheld in
Purchaser’s sole discretion), the Seller Parties shall not: 
 (a) terminate, amend or modify the Ground Lease or
any of the Assumed Contracts in any manner; 
 (b) suffer or permit waste or any adverse change in (i) the physical
condition of the Property, ordinary wear and deterioration excepted, (ii) the title to any portion of the Property, or (iii) the zoning designation of the Property; 

(c) permit any mechanics’ lien, materialmen’s lien, mortgage or any other Encumbrance to be placed or maintained on
all or any portion of the Property; 
 (d) other than a stormwater easement for the benefit of the Property that is pending
execution by the Ground Lessor, the form of which has been included in Seller’s Due Diligence Materials that have been delivered to Purchaser prior to the Effective Date, enter into, alter or terminate any contract or agreement
(i) affecting or otherwise relating to all or any portion of the Property, or (ii) which would require the consent of a third party to consummate or the transactions contemplated by this Agreement or any of the other Transaction Documents;

 (e) make any proposal in respect of (or enter into or otherwise make) any commitment or obligation that would bind
Purchaser as a successor-in-interest with respect to the Property following the Closing; 

(f) cancel, amend or modify any certificate, approval, license or permit held by Seller (or otherwise for the benefit of the
Improvements) which would be binding upon Purchaser after the Closing; 
 (g) settle or compromise or agree to any settlement
or compromise of any insurance or condemnation claim or award in respect of all or any portion of the Property; 
 (h) take
any action in respect of any litigation or proceeding related to all or any portion of the Property which would have an adverse effect on any portion of the Property; 

(i) issue any press release or other publicity of any kind whatsoever with respect to this Agreement or any of the other
Transaction Documents or any of the transactions contemplated hereby or thereby; or 
 (j) change or attempt to change,
directly or indirectly, the current zoning of the Property. 

  
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 Section 7.03 Punch List
Items. The Seller Parties hereby covenant to Purchaser that, following Closing, the Seller Parties shall, at their sole cost and expense, address and complete to Purchaser’s reasonable satisfaction all Punch List Items (as
defined in the Lease) no later than thirty (30) days after Purchaser or its representative identifies any such Punch List Items. 

Section 7.04 No Solicitation of Other Bids. Neither of the Seller Parties
nor any of their respective members, managers, partners, equity holders or representatives shall, directly or indirectly, (i) encourage, solicit, initiate, facilitate or continue inquiries regarding an Acquisition Proposal (as hereinafter
defined), (ii) enter into discussions or negotiations with, or provide any information to, any Person concerning a possible Acquisition Proposal, or (iii) enter into any agreements or other instruments (whether or not binding) regarding an
Acquisition Proposal. Each of the Seller Parties shall immediately cease (or cause to be ceased) and terminate (or cause to be terminated) all existing discussions or negotiations with any Person conducted on or before the Effective Date with
respect to, or that could lead to, an Acquisition Proposal. For purposes hereof, “Acquisition Proposal” means any inquiry, proposal or offer from any Person (other than Purchaser or any of its Affiliates) concerning
(x) the issuance or acquisition of membership interests in Seller, (y) a merger, consolidation, liquidation, recapitalization or other business combination transaction involving Seller, or (z) the sale, lease, exchange or other
disposition (whether directly or indirectly) of the Property or any portion thereof. Each of the Seller Parties agrees that the rights and remedies for noncompliance with this Section shall include having such provision specifically enforced by any
court having equity jurisdiction, it being acknowledged and agreed that any such breach or threatened breach shall cause irreparable injury to Purchaser and that money damages would not provide an adequate remedy to Purchaser. 

Section 7.05 Confidentiality. Each Party shall, and shall cause its Affiliates
and each of their respective representatives to, hold in confidence any and all information, whether written or oral, concerning the other Parties and/or the transactions contemplated by this Agreement and any of the other documents contemplated
hereby, except as may be expressly permitted in writing by the other Parties, or to the extent that such information (a) needs to be disclosed to any of such Party’s members, managers, equity holders or other representatives in connection
with effectuating the transactions contemplated by this Agreement or any of the other Transaction Documents, (b) is generally available to and known by the public through no fault of any of Purchaser or Seller, or any of their respective
Affiliates or representatives, (c) is lawfully acquired by such Party from sources which are not prohibited from disclosing such information by a legal, contractual or fiduciary obligation, or (d) is required to be disclosed by Purchaser
under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. If any of the Parties (or any of their respective Affiliates) are compelled to disclose any information by judicial or administrative process or by
other requirements of applicable Law, such Party shall disclose only such information which is legally required to be disclosed. The disclosing Party shall use commercially reasonable efforts to obtain an appropriate protective order or other
reasonable assurance that confidential treatment will be accorded such information in the event such information is required by judicial or administrative process. The disclosing Party shall take all available steps to avoid describing any of the
economic terms set forth in this Agreement. 

  
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 Section 7.06 Acknowledgement Regarding
Securities Laws. The Seller Parties hereby acknowledge that they are aware that United States securities laws prohibit any person who has material, non-public information concerning the matters
which are the subject of this Agreement from purchasing or selling securities of Purchaser (and options, warrants and rights relating thereto) or from communicating such information to any other person under circumstances in which it is reasonably
foreseeable that such person is likely to purchase or sell securities. 
 Section 7.07
Further Assurances. Following the Closing, each of the Parties shall, and shall cause their respective Affiliates and representatives to, execute and deliver such additional documents, instruments, conveyances and assurances
and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement and the other Transaction Documents. In furtherance of the foregoing, the Seller
Parties hereby (a) acknowledge and agree that, during the one (1) year period following the Closing Date, Purchaser’s auditor may conduct an audit, as may be required of Purchaser pursuant to Rule
3-14 of Securities and Exchange Commission Regulation S-X (the “Audit”), of the income statements of the Property for the last complete fiscal
year immediately preceding the Closing Date and the stub period through the Closing Date (the “Audit Period”), to the extent that the Property was in operation and/or generating income during the period of Seller’s
Leasehold Interests, and (b) covenant and agree that they shall reasonably cooperate with Purchaser’s auditor in the conduct of the Audit. Without limiting the foregoing, (i) Purchaser or its designated independent or other auditor
may audit the operating statements of the Property, at Purchaser’s expense and, upon Purchaser’s reasonable prior written request, the Seller Parties shall allow Purchaser’s auditors reasonable access to such books and records
maintained by the Seller Parties in respect to the Property and pertaining to the Audit Period as necessary to conduct the Audit; and (ii) the Seller Parties shall use reasonable efforts to provide to Purchaser such existing financial
information as may be reasonably required by Purchaser and required for Purchaser’s auditors to conduct the Audit; provided, however, that the ongoing obligations of the Seller Parties shall be limited to providing such
information or documentation as may be in the possession or control of the Seller Parties or their representatives. 
 ARTICLE VIII

 CLOSING 

Section 8.01 Closing Date. Subject to the terms and conditions of this
Agreement, the closing of the transactions contemplated by this Agreement shall take place in escrow (the “Closing”) on March 5, 2021 or such other date as Seller and Purchaser may mutually agree upon in writing (the day
on which the Closing actually takes place being the “Closing Date”). 

Section 8.02 Effectuating the Closing. When all conditions precedent set forth
in Article X below have been satisfied (or waived in writing), no Purchaser default is outstanding under Section 13.01 below (or Seller has provided a written waiver thereof), no Seller default is outstanding under
Section 13.02 below (or Purchaser has provided a written waiver thereof) and the settlement agent has confirmed that it has possession of all executed Transaction Documents (or has confirmed that Purchaser has in its
physical possession any of the Transaction Documents 

  
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not held by the settlement agent) and related items necessary to close and fund the purchase and sale of the Property in accordance with this Agreement, then the Parties shall instruct the
settlement agent to close the purchase and sale of the Property in accordance with this Agreement and otherwise in accordance with Seller’s or Purchaser’s written closing instructions (to the extent such instructions are consistent with
the terms set forth in this Agreement). 
 Section 8.03 Termination of Lease.
Upon the occurrence of the Closing contemplated hereby, the Lease shall terminate and the Parties shall have no further rights, duties or responsibilities thereunder, except as otherwise expressly provided therein. 

ARTICLE IX 
 CLOSING
DELIVERIES 
 Section 9.01 Seller’s Closing Deliverables. At or
prior to Closing, Seller shall, at its sole cost and expense, deliver or cause to be delivered all of the following to Purchaser, each of which shall be in form and substance as required by the terms of this Agreement and reasonably acceptable to
Purchaser and the Title Company and, where applicable, duly executed and acknowledged by Seller: 
 (a) An Assignment and
Assumption of Ground Lease (the “Ground Lease Assignment”), in recordable form, conveying to Purchaser the Leasehold Interests and the Improvements, subject only to the Permitted Encumbrances; 

(b) A Realty Transfer Tax Statement of Value (the “Statement of Value”) reflecting the sum paid by
Purchaser to Seller for the Leasehold Interests and the Improvements; 
 (c) A Bill of Sale (the “Bill of
Sale”) conveying to Purchaser good and marketable title to the Personal Property, free and clear of all Encumbrances; 

(d) An Assignment and Assumption of Intangible Property (the “Intangible Property Assignment”)
assigning to Purchaser all of Seller’s right, title and interest in the Intangible Property (including, without limitation, all warranties related to any of the HVAC equipment, Building roof, and other portions of the Improvements, as
applicable); 
 (e) An estoppel certificate from Ground Lessor, duly executed by Ground Lessor, in the form attached hereto
as Exhibit C, dated within five (5) Business Days of the Closing Date (the “Ground Lessor Estoppel”); 

(f) A settlement statement prepared in accordance with the terms of this Agreement (the “Settlement
Statement”); 
 (g) An affidavit stating Seller’s taxpayer identification number for federal income tax
purposes and that neither Seller nor Seller’s Manager is a foreign person within the meaning of Code Section 1445 et seq.; 

  
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 (h) Such documents, affidavits, and indemnities required by this Agreement
to permit the Title Company to deliver the Title Insurance Policy (including, without limitation, an owner’s or seller’s affidavit); 

(i) A copy of the Ground Lease, inclusive of all completed and
up-to-date Exhibits, attachments and addenda thereto, certified as true, correct and complete by an officer of Seller’s Manager; 

(j) Electronic copies of Plans and Specifications, technical manuals (including operation and maintenance manuals for all HVAC
units), and similar materials related to the Property, to the extent same are in Seller’s (or any of its Affiliates’) possession or under Seller’s (or any of its Affiliates’) control; 

(k) Electronic copies of all books and records relating to the operation of the Property and maintained by Seller during
Seller’s ownership thereof, to the extent same are in Seller’s possession or under Seller’s control and to the extent that the Property was in operation and/or generating income during the period of Seller’s Leasehold Interests;

 (l) Originals, or if originals are not in the possession or control of the Seller, copies of all Licenses and Permits
related to the Property, to the extent same are in Seller’s possession or under Seller’s control; 
 (m) All keys,
key cards, combinations, and codes relating to the operation of the Property; 
 (n) A consent of the member(s) of
Seller’s Manager authorizing the transactions contemplated hereby and the execution and delivery of the Transaction Documents; 

(o) Documentation from The Underground Detective that concrete thickness and pipe elevation/slope meet the requirements of the
Lease; 
 (p) A testing and balancing report in respect of the heating and cooling units serving the Building; 

(q) A temporary certificate of occupancy in respect of the Building; 

(r) A written certificate stating that all representations and warranties contained in Article X below remain, as of the
Closing Date, true, correct, and complete in all material respects as when first made hereunder (the “Bring Down Certificate”), certified as true and correct by an officer of Seller’s Manager; and 

(s) All other documents reasonably necessary or otherwise required by the Title Company to consummate the transactions
contemplated by this Agreement, including, without limitation, such evidence or documents as may be reasonably required by the Title Company relating to and sufficient to delete any exceptions for mechanics’ or materialmen’s liens or as
otherwise reasonably required by the Title Company and customarily delivered by sellers of leasehold estates and improvements similar to the Improvements in order to issue the Title Insurance Policy to Purchaser free and clear of matters other than
the Permitted Encumbrances. 

  
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 Section 9.02 Purchaser’s Closing
Deliverables. At or prior to Closing, Purchaser shall, at its sole cost and expense, deliver or cause to be delivered all of the following to Seller, each of which shall be in form and substance as required by the terms of this
Agreement and reasonably acceptable to Seller and, where applicable, duly executed and acknowledged by Purchaser: 
 (a) The
balance of the Purchase Price as set forth in Article II above, as adjusted for apportionments pursuant to Article VIII above; 

(b) The Ground Lease Assignment; 

(c) The Intangible Property Assignment; and 

(d) The Settlement Statement. 

ARTICLE X 
 CONDITIONS TO
CLOSING 
 Section 10.01 Conditions to Obligations to Close. 

(a) Purchaser’s Conditions Precedent. Notwithstanding anything to the contrary contained herein, and in addition to
the satisfaction or waiver of the contingencies specified in Articles III and IV of this Agreement, the obligation of Purchaser to close the transactions contemplated by this Agreement is expressly conditioned upon the fulfillment by
and as of the time of the Closing of each of the conditions listed below, provided that Purchaser, at its election, evidenced by written notice delivered to Seller at or prior to the Closing, may (in its sole discretion) elect to waive any or all of
such conditions: 
 (i) Seller shall have: (A) executed and delivered to Purchaser, or any other
applicable Person, all of the documents required to be delivered by Seller at the Closing; (B) taken all other action required of Seller at the Closing; and (C) performed and observed all of the obligations and covenants of and required by
Seller pursuant to this Agreement prior to or as of the Closing Date (including, without limitation, achieving Substantial Completion of the Landlord’s Work in accordance with the terms of the Lease, which the Parties hereby agree shall be
verified in accordance with clause (ii) below); 
 (ii) Seller shall have Substantially Completed
Landlord’s Work. For the sake of clarity, the Parties hereby stipulate and agree that, as of the Effective Date of this Agreement, the items of Landlord’s Work described on Exhibit D attached hereto comprise all items of
Landlord’s Work remaining to be completed before Substantial Completion of Landlord’s Work shall be deemed to have occurred; 

(iii) The Seller’s representations and warranties in Article V shall be true and correct, in all
material respects, on and as of the Closing Date with the same force and effect as though made on and as of such date; 

  
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 (iv) Title to the Property shall be free and clear of all
Encumbrances (other than Permitted Encumbrances) in accordance with Article IV above; and 
 (v) There
shall be no actions, suits, arbitrations, claims, attachments, proceedings, assignments for the benefit of creditors, insolvency, bankruptcy, reorganization or other proceedings, pending or threatened against Seller or affecting any of the Property,
or that would otherwise affect Seller’s ability to perform its obligations under this Agreement. 
 (b) Seller’s
Conditions Precedent. Notwithstanding anything to the contrary contained herein, the obligation of Seller to close the transactions contemplated by this Agreement is expressly conditioned upon the fulfillment by and as of the time of the Closing
of each of the conditions listed below, provided that Seller, at its election, evidenced by written notice delivered to Purchaser at or prior to the Closing, may (in its sole discretion) elect to waive any or all of such conditions: 

(i) Purchaser shall have: (A) executed and delivered to Seller, or any other applicable Person, all of the
documents required to be delivered by Purchaser at the Closing; (B) taken all other action required of Purchaser at the Closing; and (C) performed and observed all of the obligations and covenants of and required by Purchaser pursuant to
this Agreement prior to or as of the Closing Date; 
 (ii) The Purchaser’s representations and
warranties in Article VI shall be true and correct, in all material respects, on and as of the Closing Date with the same force and effect as though made on and as of such date; and 

(iii) There shall be no actions, suits, arbitrations, claims, attachments, proceedings, assignments for the
benefit of creditors, insolvency, bankruptcy, reorganization or other proceedings, pending or threatened against Purchaser that would affect Purchaser’s ability to perform its obligations under this Agreement. 

Section 10.02 Failure of Conditions to Closing. 

(a) Failure of Purchaser’s Conditions Precedent. If the conditions precedent set forth in
Section 10.01(a) above are not satisfied by Seller or waived by Purchaser prior to the Closing Date, then Purchaser shall have the option (in addition to any rights Purchaser may have under Section 13.02 below
in the event that the non-satisfaction of a condition is a result of a breach or default by Seller) to either: 

(i) after ten (10) days’ prior written notice to Seller, without satisfaction of such condition by
Seller during such 10-day period, terminate this Agreement by delivering written notice thereof to Seller, in which case the Deposit shall be promptly returned to Purchaser and Seller shall reimburse Purchaser
promptly for Purchaser’s Costs (as defined in and subject to Section 13.02 below), following which the Parties shall have no further obligations to each other hereunder, except for obligations which expressly survive
the termination of this Agreement, and the Lease shall thereafter remain in full force and effect; or 

  
 22 

 (ii) seek specific performance of Seller’s obligations
hereunder, in which case (x) if the Closing occurs, Seller shall reimburse Purchaser for the costs incurred by Purchaser in seeking specific performance (subject to Section 13.02) and Purchaser shall retain the ability
to make claims for indemnification pursuant to Article XIV below, or (y) if the Closing does not occur within sixty (60) days after bringing an action for specific performance, Purchaser may terminate this Agreement by delivering
written notice thereof to Seller, and the Deposit shall be promptly returned to Purchaser and Seller shall reimburse Purchaser promptly for Purchaser’s Costs (subject to Section 13.02), following which the Parties
shall have no further obligations to each other hereunder, except for obligations which expressly survive the termination of this Agreement, and the Lease shall thereafter remain in full force and effect; or 

(iii) waive any unsatisfied condition and proceed to Closing hereunder. 

(b) Failure of Seller’s Conditions Precedent. If the conditions precedent set forth in
Section 10.01(b) above are not satisfied by Purchaser or waived by Seller prior to the Closing Date, then Seller shall have the option (in addition to any rights Seller may have under Section 13.01 below in the event
that the non-satisfaction of a condition is a result of a breach or default by Purchaser) to either: 

(i) after ten (10) days’ prior written notice to Purchaser, without satisfaction of such condition by
Purchaser during such 10-day period, terminate this Agreement by delivering written notice thereof to Purchaser, following which the Deposit shall be released to Seller and the Parties shall have no further
obligations to each other hereunder, except for obligations which expressly survive the termination of this Agreement, and the Lease shall thereafter remain in full force and effect; or 

(ii) waive any unsatisfied condition and proceed to Closing hereunder. 

ARTICLE XI 
 CLOSING
COSTS 
 Section 11.01 Purchaser’s Closing Costs. Except as
otherwise expressly provided in Section 10.02 above or Section 13.02 below, Purchaser shall pay the following costs and expenses in connection with the transactions contemplated by this Agreement
and the other Transaction Documents: 
 (a) All costs and expenses of Purchaser’s due diligence investigations in
respect of the Property; 
 (b) One-half
(1⁄2) of any transfer tax charged in connection with the sale or transfer of the Property from Seller to Purchaser; 

  
 23 

 (c) Recording fees payable in connection with recording the Ground Lease
Assignment or a memorandum thereof; 
 (d) One-half
(1⁄2) of the closing fees charged by the settlement agent; and 

(e) Any and all costs incurred by Purchaser in connection with the preparation, review and/or negotiation of this Agreement and
the other Transaction Documents. 
 Section 11.02 Seller’s Closing
Costs. Seller shall pay the following costs and expenses in connection with the transactions contemplated by this Agreement or any of the other Transaction Documents: 

(a) One-half (1⁄2) of any transfer tax charged in connection with the sale or transfer of the Property from Seller to Purchaser; 

(b) One-half (1⁄2) of the closing fees charged by the settlement agent; 
 (c) All recording fees for
releasing any Encumbrance on the Property; and 
 (d) Any and all costs or expenses incurred by Seller in connection with the
preparation, review and/or negotiation of this Agreement and the other Transaction Documents. 

Section 11.03 Survival. The provisions of this Article XI shall survive
the Closing. 
 ARTICLE XII 

APPORTIONMENTS 

Section 12.01 Apportionments at Closing. The Parties shall prorate the
following as of 11:59 p.m. on the day immediately preceding the Closing Date on the basis of the actual number of days of the month which shall have elapsed as of the Closing Date and based upon the actual number of days in the month and a 366-day year: 
 (a) Rent and any other amounts due under the Ground Lease; 

(b) Property Taxes, in accordance with the terms of Section 12.02 below; 

(c) All water, sewer, electric, natural gas, telephone and other utility charges based on the last ascertainable bill unless
meter readings are made as of the Closing Date; 
 (d) Any charges or fees for transferable Licenses and Permits for the
Property; and 
 (e) Payments under any Assumed Contracts which Purchaser has agreed to assume at the Closing. 

  
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 Section 12.02 Property Taxes and Assessments.

(a) Real estate, school and other property taxes for the Land and the Improvements (collectively, “Property
Taxes”) shall be apportioned on the basis of the fiscal period for which assessed. If the Closing Date shall occur before an assessment is made or a tax rate is fixed for the tax period in which the Closing Date occurs, the
apportionment of such Property Taxes based thereon shall be made at the Closing Date by applying the tax rate for the preceding year to the latest assessed valuation, but, promptly after the assessment and/or tax rate for the current year are fixed,
but only if such assessment or tax rate is determined within sixty (60) days of the Closing Date, the apportionment thereof shall be recalculated and Seller or Purchaser, as the case may be, shall make an appropriate payment to the other within
thirty (30) days based on such recalculation. If the assessment or tax rate is determined more than sixty (60) days following the Closing Date, any payment due becomes the sole responsibility of the Purchaser. 

(b) If, as of the Closing Date, the Property or any portion thereof shall be affected by any special, general or other
assessment(s) which are or may become payable in installments of which the first installment is then a charge or lien and has become payable, Seller shall pay the unpaid installments of such assessments which are due prior to the Closing Date and
Purchaser shall pay any installments which are due on or after the Closing Date. 
 Section 12.03 Credits.

 (a) The following sums shall be credited to Purchaser at Closing by applying the same against the Purchase Price:
(i) the dollar value of any Base Rent abatement rights accrued prior to the Closing Date to Purchaser under the second paragraph of Section 1.9 of the Lease, but subject to extensions for Force Majeure and/or Tenant Delay (as such terms
are defined in the Lease) if any; and (ii) the dollar value of any Base Rent paid by Purchaser to Seller pursuant to the Lease prior to the Closing Date, if any. 

(b) The dollar value of the Ground Lease Security Deposit shall be credited to Seller at Closing by applying the same against
the Purchase Price. 
 Section 12.04 Survival. The provisions of this
Article XII shall survive the Closing. 
 ARTICLE XIII 

DEFAULT; TERMINATION 

Section 13.01 Purchaser’s Default. If Purchaser shall default in the
payment of the Purchase Price on the scheduled Closing Date and Seller is otherwise ready, willing and able to perform its obligations to be performed on the Closing Date and are not then in default hereunder, the Seller’s sole and exclusive
remedy by reason thereof shall be to terminate this Agreement on no less than five (5) days’ prior written notice to Purchaser (during which period Purchaser shall have the opportunity to cure its default) and, upon the effective date of
such termination, (i) the Deposit shall be released to the Seller, (ii) the Lease shall continue in full force and effect except that all rights granted to Purchaser in Section 25 and Section 26 of the Lease shall be terminated
and of no further force or effect, and (iii) Purchaser shall reimburse Seller for Seller’s Costs (as defined below). If Seller terminates this Agreement pursuant to this paragraph, the Parties shall have no further rights or obligations
under this Agreement except for those that are expressly 

  
 25 

 
provided in this Agreement to survive the termination hereof. As used herein, “Seller’s Costs” means all of the expenses actually incurred by Seller for the actual
and reasonable third-party costs incurred by Seller in connection with the negotiation of this Agreement, including, without limitation, reasonable attorneys’ fees. 

Section 13.02 Seller’s Default. If Seller
shall default in the performance of any of its obligations to be performed under this Agreement (including, without limitation, a breach of any representation, warranty or covenant set forth herein) and Purchaser is otherwise ready, willing and able
to perform its obligations to be performed on the then-scheduled Closing Date, Purchaser’s sole remedies hereunder shall be to: (a) terminate this Agreement on no less than five (5) days’ prior written notice to Seller (during
which period Seller shall have the opportunity to cure any such default) and, upon the effective date of such termination, (i) the Deposit shall be returned to the Purchaser, (ii) the Lease shall continue in full force and effect, and
(iii) Seller shall reimburse Purchaser for Purchaser’s Costs (as defined below); or (b) Purchaser may seek specific performance of Seller’s obligations hereunder, in which case (i) if the Closing occurs, Seller shall
reimburse Purchaser for the costs incurred by Purchaser in seeking specific performance and Purchaser shall retain the ability to make claims for indemnification pursuant to Article XIV below, or (ii) if the Closing does not occur within
sixty (60) days after bringing an action for specific performance, Purchaser may terminate this Agreement by delivery of written notice to Seller and, upon such termination, (A) the Deposit shall be returned to the Purchaser, (B) the
Lease shall continue in full force and effect, and (C) Seller shall reimburse Purchaser for Purchaser’s Costs. As used herein, “Purchaser’s Costs” means all of the expenses actually
incurred by Purchaser for: (x) title examination, survey, and municipal searches, including the issuance of the Title Commitment and any continuation thereof, without issuance of a title insurance policy; (y) fees paid to Purchaser’s
engineer for preparing any environmental and engineering reports with respect to the Property (if applicable); and (z) the actual and reasonable third-party costs incurred by Purchaser in connection with the negotiation of this Agreement,
Purchaser’s due diligence with respect to the Property, or Purchaser’s proposed acquisition financing, including, without limitation, reasonable attorneys’ fees and commitment fees, but not to exceed a total of $50,000.00 for all
items included in sub-clauses (x), (y) and (z) above. 

Section 13.03 Survival. The provisions of this Article XIII shall
survive the Closing or the earlier termination of this Agreement and shall not be deemed to have merged into any of the documents executed or delivered at the Closing. 

ARTICLE XIV 

INDEMNIFICATION 

Section 14.01 Indemnification by Seller Parties. Subject to the other
terms and conditions of this Article XIV, Seller and Neyer (together, the “Seller Parties”) hereby agree, jointly and severally, to defend, indemnify and hold harmless Purchaser and its Affiliates and each of
their respective members, managers, directors, equity holders, officers, employees and Representatives from and against all claims, judgments, damages, liabilities, settlements, losses, costs and expenses, including attorneys’ fees and
disbursements (collectively, “Losses”), arising from or relating to any inaccuracy in or breach of any of the representations or warranties set forth in Article V above, or of any of the covenants set forth in
Article VII above. 

  
 26 

 Section 14.02 Indemnification
Procedures. Whenever any claim shall arise for indemnification hereunder, Purchaser shall promptly provide written notice of such claim to the Seller Parties. In connection with any claim giving rise to indemnity hereunder
resulting from or arising out of any action by a Person who is not a party to this Agreement, the Seller Parties, at their sole cost and expense and upon written notice to Purchaser, may assume the defense of any such action with counsel reasonably
satisfactory to Purchaser. Purchaser shall be entitled to participate in the defense of any such action, with its counsel and at its own cost and expense. If neither of the Seller Parties assume the defense of any such action, Purchaser may, but
shall not be obligated to, defend against such action in such manner as it may deem appropriate, including, but not limited to, settling such action, after giving notice of it to the Seller Parties, on such terms as Purchaser may deem appropriate
and no action taken by Purchaser in accordance with such defense and settlement shall relieve either of the Seller Parties of their indemnification obligations herein provided with respect to any damages resulting therefrom. Neither of the Seller
Parties may settle any action without Purchaser’s prior written consent (which consent shall not be unreasonably withheld or delayed). 

Section 14.03 Exclusivity. The rights and remedies set forth in this Article
XIV shall be exclusive of all other rights to monetary damages that any Party (or any Party’s successors or assigns) would otherwise have at law or in equity in connection with the transactions contemplated by this Agreement or any of the
other Transaction Documents, other than with respect to claims based on common law fraud or rights which by law cannot be waived or limited. 

Section 14.04 Limitations. The Seller Parties shall not have any liability to
Purchaser hereunder for a breach of any representation, warranty, covenant or agreement in excess of One Million Dollars ($1,000,000), and in no event shall the Seller Parties be liable to Purchaser for any punitive or speculative damages;
provided, however, that nothing herein shall operate to relieve or otherwise limit either of the Seller Parties of any common law liability to Purchaser for any fraudulent or otherwise intentional misrepresentation of fact with respect
to the making of any of Seller’s express representations and warranties set forth in this Agreement. 

Section 14.05 Tax Treatment of Indemnification Payments. All indemnification
payments made under this Agreement shall be treated by the Parties as an adjustment to the Purchase Price for tax purposes, unless otherwise required by applicable Law. 

Section 14.06 Effect of Investigation. Purchaser’s right to
indemnification or other remedy based on the representations, warranties, covenants and agreements of Seller contained herein will not be affected by any investigation conducted by Purchaser, or any knowledge acquired by Purchaser at any time, with
respect to the accuracy or inaccuracy of or compliance with, any such representation, warranty, covenant or agreement. 

Section 14.07 Payment of Indemnification Claims. The Seller Parties shall
satisfy their obligations within thirty (30) days after the Parties reach agreement on the amount of such indemnification amount, or within thirty (30) days after the entry of a final, non-appealable
adjudication, in either case by wire transfer of immediately available funds. The Seller Parties hereby agree that, should the Seller Parties not make full payment of any such obligations within 

  
 27 

 
such 30-day period, any amount payable shall accrue interest from and including the date of agreement of the Seller Parties or final, non-appealable adjudication to and including the date such payment has been made at a rate equal to ten percent (10%) per annum. Such interest shall be calculated daily on the basis of a 365-day year and the actual number of days elapsed. 
 ARTICLE XV 

CASUALTY AND CONDEMNATION 

Section 15.01 Casualty. Risk of loss to the Property from fire or other
casualty shall be borne by Seller until Closing. If the Property or any portion thereof is damaged or destroyed by fire or other casualty prior to Closing, Seller shall provide Purchaser with written notice thereof as soon as reasonably possible
(but in any event within five (5) days after the occurrence of any such damage or destruction) and shall also provide, within thirty (30) days of the occurrence, a written estimate of the time period required to repair and restore the
damaged portions of the Core and Shell (as defined in the Lease) (“Estimate”). 
 (a)
If the Property shall be damaged or destroyed to the extent of more than fifty percent (50%) of the full replacement cost of the Core and Shell (as defined in the Lease), and the repair and restoration of any such damage or destruction cannot be
completed within 180 days after the date of the occurrence, then either party may elect to terminate this Agreement by delivery of notice to the other party within thirty (30) days after the date of the occurrence, and the Deposit shall be
promptly returned to Purchaser. 
 (b) If Seller fails to deliver an Estimate within the 30-day period set forth in Section 15.01(a) above, Purchaser may elect to terminate this Agreement by delivery of notice to Seller within thirty (30) days after the expiration of the 30-day period set forth in Section 15.01(a) above, and the Deposit shall be promptly returned to Purchaser; provided, however, that if Seller provides an Estimate after such 30-day period set forth in Section 15.01(a) above but before Purchaser exercises its right to terminate hereunder, Purchaser shall not have the right to terminate this Agreement. 

(c) Upon delivery of any notice of termination pursuant to Section 15.01(a) or
Section 15.01(b) above, this Agreement shall terminate as of the date of the damage or destruction unless otherwise provided in such notice, the Deposit shall be promptly returned to Purchaser, and Purchaser and Seller
shall have no further liabilities or obligations hereunder, and the Lease shall remain in full force and effect. 
 If Purchaser does not
elect to terminate this Agreement as provided in this Section 15.01, then, subject to Purchaser’s other rights to terminate as set forth in this Agreement, the transactions contemplated by this Agreement shall proceed
as contemplated herein, in which event Seller shall assign to Purchaser all of Seller’s right, title and interest in the proceeds to be paid on the claim of loss, and Purchaser shall receive a credit against the Purchase Price at Closing for
any deductible. 
 Section 15.02 Condemnation. If, prior to Closing, all or
any material portion of the Property becomes the subject of a condemnation proceeding by any Authority having the power of eminent domain, Seller shall provide Purchaser with written notice thereof as soon as reasonably

  
 28 

 
possible (but in any event within five (5) days after Seller first learns of same), and the Purchase Price shall be reduced proportionately as to the part of the Property taken. If the
amount of the Property so taken is such as to impair substantially the usefulness of the Property for the purposes for which the same are hereby intended, then Purchaser shall have the option to terminate this Agreement and, if Purchaser elects to
terminate this Agreement in accordance with the foregoing, the Deposit shall promptly be returned to Purchaser, and the Lease shall remain in full force and effect. If Purchaser does not elect to terminate this Agreement as provided in this
paragraph, then, subject to Purchaser’s other rights to terminate as set forth in this Agreement, the transactions contemplated by this Agreement shall proceed as contemplated herein, in which event Purchaser shall be entitled to receive all
proceeds of any award or payment in lieu thereof and Purchaser shall have the right to participate with Seller in any proceedings and Seller shall not be entitled to settle any such proceeding without the prior written consent of Purchaser. 

ARTICLE XVI 

MISCELLANEOUS 

Section 16.01 No Brokers. Each Party: (a) represents and warrants to the
other Party hereto that it has not employed, been represented by or otherwise dealt with any real estate agent, broker or finder in connection with the transactions contemplated by this Agreement and the other Transaction Documents, and that no
commission, fee or other compensation is payable to any real estate agent, broker or finder as a result of such Party’s (or any of its Affiliates’) acts or omissions; and (b) agrees to indemnify, defend and hold the other harmless
from and against any and all claims, damages, losses, liabilities, costs and expenses (including without limitation reasonable attorneys’ fees and court costs) arising out of or in connection with any breach of this Section. The representations
and indemnification obligations set forth in this Section shall survive Closing. 
 Section 16.02
Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of
receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail of a PDF document (with confirmation of
transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return
receipt requested, postage prepaid. Such communications must be sent to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section): 

 

			
	 If to the Seller Parties:
	  	 Northfield I, LLC

		  	 c/o Al. Neyer, LLC

		  	 302 West Third Street, Suite 800

		  	 Cincinnati, OH 45202

		  	 Attn: Legal Services

		  	 E-mail: lkoth@neyer.com

		
	         with a copy to:
	  	 Northfield I, LLC

		  	 c/o Al. Neyer, LLC

  
 29 

			
		  	 302 West Third Street, Suite 800

		  	 Cincinnati, OH 45202

		  	 Attn: Asset Management

		  	 E-mail: jcheung@neyer.com

		
	 If to Purchaser:
	  	 Krystal Biotech, Inc.

		  	 2100 Wharton Street, Suite 701

		  	 Pittsburgh, PA 15203

		  	 Attn: Kathryn Romano

		  	 E-mail: kromano@krystalbio.com

		
		  	 and

		
		  	 Krystal Biotech, Inc.

		  	 2100 Wharton Street, Suite 701

		  	 Pittsburgh, PA 15203

		  	 Attn: J. Christopher Naftzger

		  	 E-mail: cnaftzger@krystalbio.com

		
	         with a copy to:
	  	 Jonathan P. Altman

		  	 Merz Lewis Brodman Must O’Keefe LLC

		  	 535 Smithfield Street, Suite 800

		  	 Pittsburgh, PA 15222

		  	 Email: jaltman@metzlewis.com

 Section 16.03 Headings. The headings in
this Agreement are for reference only and shall not affect the interpretation of this Agreement. 

Section 16.04 Days; Performance on a Saturday, Sunday, or Holiday. Whenever the
term “day” is used in this Agreement, it shall refer to a calendar day unless otherwise specified. A “Business Day” shall mean any weekday except for those weekdays that a banking institution within
the Commonwealth of Pennsylvania is required by said state to be closed (a “Holiday”). Should this Agreement require an act to be performed or a notice to be given on a Saturday, Sunday, or Holiday, the act shall be
performed, or notice given, on the following Business Day. 
 Section 16.05
Severability. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this
Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. 

Section 16.06 Entire Agreement. This Agreement constitutes the sole and entire
agreement of the parties with respect to the subject matter contained herein and therein, and supersedes all prior and contemporaneous understandings and agreements, both written and oral, with respect to transactions contemplated by this Agreement.

  
 30 

 Section 16.07 Successors and
Assigns. This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted assigns. Neither Party may assign its respective rights or obligations hereunder without the
prior written consent of the other Party; provided, however, that prior to the Closing Date, Purchaser may, without the prior written consent of Seller, assign all or any portion of its rights and obligations under this Agreement to
one or more of its Affiliates, but in no event shall an approved assignment release the Purchaser of any obligations hereunder. 

Section 16.08 No Third-Party Beneficiaries. This Agreement is for the sole
benefit of the Parties and their respective successors and permitted assigns, and nothing herein, whether express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature
whatsoever under or by reason of this Agreement. 
 Section 16.09 Amendment and
Modification; Waiver. This Agreement may only be amended, modified, or supplemented by an agreement in writing signed by each of the Parties. No waiver by any of the Parties of any of the provisions hereof shall be effective unless
explicitly set forth in writing and signed by the Party so waiving. No waiver by either Party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a
similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof;
nor shall any single or partial exercise of any right, remedy, power, or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. 

Section 16.10 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.

(a) This Agreement shall be governed by and construed in accordance with the internal laws of the Commonwealth of Pennsylvania
without giving effect to any choice or conflict of law provision or rule. 
 (b) ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING
OUT OF OR BASED UPON THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY MAY BE INSTITUTED IN THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA OR THE COURTS OF THE COMMONWEALTH OF PENNSYLVANIA IN EACH CASE LOCATED IN THE CITY OF PITTSBURGH AND
COUNTY OF ALLEGHENY, AND EACH OF THE PARTIES IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING. SERVICE OF PROCESS, SUMMONS, NOTICE OR OTHER DOCUMENT BY MAIL TO SUCH PARTY’S ADDRESS SET
FORTH HEREIN SHALL BE EFFECTIVE SERVICE OF PROCESS FOR ANY SUIT, ACTION OR OTHER PROCEEDING BROUGHT IN ANY SUCH COURT. THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR ANY PROCEEDING IN
SUCH COURTS AND IRREVOCABLY WAIVE AND AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

  
 31 

 (c) EACH OF THE PARTIES HEREBY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY
WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF
OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH OF THE PARTIES HEREBY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT
SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION, (ii) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (iv) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO
THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS PARAGRAPH. 

Section 16.11 Time Is of the Essence. The Parties hereto acknowledge and agree that, except as
otherwise expressly provided in this Agreement, TIME IS OF THE ESSENCE FOR THE PERFORMANCE OF ALL ACTIONS (INCLUDING, WITHOUT LIMITATION, THE GIVING OF NOTICES, THE DELIVERY OF DOCUMENTS, AND THE FUNDING OF MONEY) REQUIRED OR PERMITTED TO BE TAKEN
UNDER THIS AGREEMENT. Whenever action must be taken (including, without limitation, the giving of notice, the delivery of documents or the funding of money) under this Agreement, prior to the expiration of, by no later than or on a particular date,
unless otherwise expressly provided in this Agreement, such action must be completed by 5:00 p.m. Eastern Time on such date. However, notwithstanding anything to the contrary herein, whenever action must be taken (including, without limitation, the
giving of notices hereunder, the delivery of documents, or the funding of money) under this Agreement prior to the expiration of, by no later than, or on a particular date that is not a Business Day, then such date shall be extended until the
immediately following Business Day. 
 Section 16.12 Specific Performance.
The Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall each be entitled to specific performance of the terms hereof, in addition to
any other remedy to which they are entitled at law or in equity. 
 Section 16.13 Attorneys’ Fees.

 (a) Each Party hereby acknowledges that: (i) it has been represented by independent counsel in connection with
this Agreement; (ii) it has executed this Agreement with the advice of such counsel; and (iii) this Agreement is the result of negotiations among the Parties hereto and the advice and assistance of their respective counsel. 

(b) Except as otherwise expressly set forth in this Agreement, each Party shall be responsible for all costs it incurs in
connection with the preparation, review and negotiation of this Agreement and the transactions contemplated by this Agreement, including any attorneys’ or consultants’ fees. 

  
 32 

 (c) If any action is brought by any Party against another Party in
connection with or arising out of this Agreement or any of the Transaction Documents, the prevailing Party or Parties (as applicable) shall be entitled to recover from the non-prevailing Party or Parties (as
applicable) its or their reasonable out-of-pocket costs and expenses, including, without limitation, reasonable attorneys’ fees, incurred in connection with the
prosecution or defense of such action. 
 Section 16.14 No Recording. None of
the Parties shall record this Agreement or any memorandum hereof without the prior written consent of the other Parties, which consent may be withheld in any Party’s sole discretion. 

Section 16.15 COAL NOTICE. NOTICE—THIS DOCUMENT MAY NOT SELL, CONVEY,
TRANSFER, INCLUDE OR INSURE THE TITLE TO THE COAL AND RIGHT OF SUPPORT UNDERNEATH THE SURFACE LAND DESCRIBED OR REFERRED TO HEREIN, AND THE OWNER OR OWNERS OF SUCH COAL MAY HAVE THE COMPLETE LEGAL RIGHT TO REMOVE ALL OF SUCH COAL, AND, IN THAT
CONNECTION, DAMAGE MAY RESULT TO THE SURFACE OF THE LAND AND ANY HOUSE, BUILDING OR OTHER STRUCTURE ON OR IN SUCH LAND, THE INCLUSION OF THIS NOTICE DOES NOT ENLARGE OR RESTRICT OR MODIFY ANY LEGAL RIGHTS OR ESTATES OTHERWISE CREATED, TRANSFERRED,
EXCEPTED OR RESERVED BY THIS INSTRUMENT. (This notice is set forth in the manner provided in Section 1 of the Act of July 17, 1957, P.L. 984, as amended, and is not intended as notice of unrecorded instruments, if any.) 

Section 16.16 Counterparts. This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of
electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement. This Agreement shall become effective and binding only upon the execution and delivery hereof by all Parties hereto. 

[SIGNATURE PAGE FOLLOWS] 

  
 33 

 IN WITNESS WHEREOF, the Parties have caused this Purchase and Sale Agreement
to be executed as of the Effective Date. 
  

			
	PURCHASER:
	
	KRYSTAL BIOTECH, INC.,
	a Delaware corporation
		
	By:	 	 /s/ Krish S. Krishnan

		 	Krish S. Krishnan,
		 	President and Chief Executive Officer
	
	SELLER:
	
	NORTHFIELD I, LLC,
	an Ohio limited liability company
		
	By:	 	AL. NEYER, LLC,
		 	an Ohio limited liability company,
		 	its Manager
		
		 	By: /s/ Lesley Koth                                
                
		 	Name: Lesley Koth
		 	Title: Senior Vice President &
		 	          General Counsel
	
	NEYER:
	
	AL. NEYER, LLC,
	an Ohio limited liability company, solely
	with respect to Articles VII, XIV and XVI
		
	By:	 	 /s/ Lesley Koth

	Name:	 	Lesley Koth
	Title:	 	Senior Vice President &
		 	General Counsel

  
 34 

 EXHIBIT A 

LEGAL DESCRIPTION OF THE LAND 

All that certain lease area being a part of lands now or formerly of The Allegheny County Airport Authority, situate in the Township of
Findlay, County of Allegheny and Commonwealth of Pennsylvania, being more particularly bounded and described as follows: 
 Beginning at a
point on the southerly line of Halverson Road, a sixty-eight (68) foot road, said point being the northerly corner of the parcel herein conveyed and intersection with lands now or formerly of The Allegheny County Airport Authority; thence from
beginning through lands now or formerly The Allegheny County Airport Authority the following four (4) courses and distances: 
  

	 	1.	 S 84°13’31” E a distance of 76.33 feet to a point; 

 

	 	2.	 S 03°26’54” E a distance of 921.81 feet to a point; 

 

	 	3.	 N 86°26’37” W a distance of 558.89’ feet to a point; 

 

	 	4.	 N 03°26’54” E a distance of 723.36 feet to a point on the southerly line of Halverson Road;

 thence along Halverson Road S 86°33’46” E a distance of 192.68 feet to a point; thence by same with an
arc having a curve to the left, having a radius of 309.00 feet, an arc length of 375.10 feet to a point the northerly corner of the parcel, at the point of beginning. 

Containing an area of 10 acres. 

Being known as Parcel ID Number 923-H-250 in the Allegheny
County Department of Real Estate. 

  
 A-1 

 EXHIBIT B 

FORM OF DEPOSIT ESCROW AGREEMENT 

ESCROW AGREEMENT 
 Date: January ___, 2021

 File No.: ______________ 
 Property Address
and Tax ID:     International Drive, Findlay Township 
 Parcel ID No. 923-H-250 
 Among 

NORTHFIELD I, LLC, an Ohio limited liability company (“Seller”), KRYSTAL BIOTECH, INC., a Delaware corporation
(“Buyer”), and CHICAGO TITLE INSURANCE COMPANY (“Escrow Agent”). 
  

	1.	 Amount of Escrow Deposit: $180,000.00. 

___ Escrow Agent hereby acknowledges receipt of the Escrow Deposit. 

 

	2.	 The Escrow Deposit is to be deposited into: 

_X_ a non-interest bearing account 

___ an interest bearing account. (Please note that an additional service fee is charged for opening an interest bearing
account. See Paragraph 6 listed below.) 
  

	3.	 If an interest bearing account is opened, the interest earned should be reported by the depository
institution to the Internal Revenue Service as follows: 

 Taxpayer name:
__________________________________________ 
 Taxpayer address:
________________________________________ 
 _______________________________________________________

 Taxpayer I.D. No.: _______________________________________ 

For an individual, birth date is required: _______________________ 

  
 B-1 

	4.	 Distribution of the Escrow Fund: The “Escrow Fund” is comprised of the Escrow
Deposit and interest, if any, accrued thereon. Seller and Buyer agree that Escrow Agent shall distribute the Escrow Fund in accordance with the terms set forth in Sections 2.02, 2.03, 3.03, 10.02, 13.01, 13.02, 15.01 and 15.02 of that certain
Purchase and Sale Agreement between Seller and Buyer of even date herewith (the “PSA”). 

Except as otherwise expressly provided in the PSA, instructions for distribution of the Escrow Fund must be submitted in
writing and signed by Buyer and Seller. 
  

	5.	 Interest: Seller and Buyer agree that any interest earned shall become part of the Escrow Fund and
shall be subject to the terms and conditions of this Escrow Agreement. Seller and Buyer also acknowledge that Escrow Agent cannot open an interest bearing deposit account without receipt of a Form W-9 or W-8. 

  

	6.	 Service Fee: Seller agrees to pay a service fee of $100.00 to Escrow Agent at the time this Escrow
Agreement is executed. In the event that an interest bearing account is to be opened, an additional service fee of $100.00 shall be paid by Seller to Escrow Agent at the time this agreement is executed. 

 

	7.	 Maintenance Fee: If the Escrow Fund is not fully distributed within twelve (12) months, Escrow
Agent shall charge an annual maintenance fee in the minimum amount of $100.00. The annual maintenance fee will be deducted by Escrow Agent from the Escrow Fund. A minimum service fee of $250.00 will be charged if the transaction does not close.

  

	8.	 Commingling: If the Escrow Deposit is to be placed in a
non-interest bearing account, Escrow Agent may commingle the Escrow Deposit with escrow funds of others, and may deposit such funds without limitation in its custodial or escrow accounts with any reputable
bank, savings association or other financial services entity. 

  

	9.	 Escheat: The Escrow Fund shall be subject to the provisions of applicable state law pertaining to
unclaimed property. 

  

	10.	 Loss of Funds: In the event that the Escrow Deposit has been invested in an interest bearing account,
Escrow Agent will not be liable for any loss or impairment of the Escrow Fund if the loss or impairment results from the failure, insolvency or suspension of the depository institution. 

 

	11.	 Levies: In the event that an interest bearing account is opened, Escrow Agent is not responsible for
levies by taxing authorities based upon the taxpayer identification number used to establish the account. 

  
 B-2 

	12.	 Liability of Escrow Agent: Escrow Agent shall not be liable for, and Seller and Buyer expressly
release Escrow Agent from liability arising out of, any act, omission or other matter or thing arising hereunder, except for Escrow Agent’s willful misconduct or gross negligence. Seller and Buyer, jointly and severally, agree to indemnify and
hold Escrow Agent harmless from and against any and all costs, claims or damages, howsoever occasioned, that may be incurred by or asserted against it arising out of or in connection with the Escrow Agreement or Escrow Agent’s action or failure
to act hereunder, including without limitation, costs and expenses (including attorneys’ fees) of depositing the Escrow Fund in court or defending itself hereunder, except for Escrow Agent’s willful misconduct or gross negligence.

  

	13.	 Duties of Escrow Agent: Escrow Agent undertakes to perform only such duties as are expressly set
forth herein, being purely ministerial in nature. Escrow Agent shall have no responsibility for determining the due authorization, execution and delivery of any notice or other document delivered to Escrow Agent pursuant to this Agreement or the
genuineness of the signatures thereon. Escrow Agent may rely and shall be protected in acting upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed by the proper parties.
Escrow Agent may rely on instructions in writing sent to Escrow Agent by facsimile transmission. 

  

	14.	 Interpleader: In the event that any payment of the Escrow Fund by the Escrow Agent to be made to or
for the benefit of Buyer or Seller or any delivery of the Seller’s Documents by the Escrow Agent to be made to or for the benefit of Buyer or Seller shall be disputed by either Seller or Buyer, the Escrow Agent may commence an interpleader
action in a court of competent jurisdiction or any successor to the jurisdiction thereof and pay the Deposit and deliver the Seller’s Documents to such court. 

 

	15.	 Notices: All notices, instructions and other communications hereunder shall be deemed to be
sufficiently given if in writing and sent to: 

  

			
	 Seller:
	  	 Northfield I, LLC

		  	 c/o Al. Neyer, LLC

		  	 302 West Third Street, Suite 800

		  	 Cincinnati, OH 45202

		  	 Attn: Legal Services

		  	 E-mail: lkoth@neyer.com

		
	 Buyer:
	  	 Krystal Biotech, Inc.

		  	 2100 Wharton Street, Suite 701

		  	 Pittsburgh, PA 15203

		  	 Attn: Kathryn Romano

		  	 E-mail:
kromano@krystalbio.com

  
 B-3 

			
	 Escrow Agent:
	  	
		  	 Chicago Title Insurance Company

		  	 Two Gateway Center, 19th Floor

		  	 603 Stanwix Street

		  	 Pittsburgh, PA 15222

		  	 Attn: Erin M. Fagnilli

		  	 (412) 904-6890

		  	 Erin.fagnilli@fnf.com

  

	16.	 Governing Law: This Escrow Agreement shall be governed and construed in accordance with the laws of
the Commonwealth of Pennsylvania. 

 [SIGNATURE PAGE FOLLOWS] 

  
 B-4 

 In witness whereof, the parties have executed this Escrow Agreement as of
the date first written above. 
  

					
	SELLER:
	
	 NORTHFIELD I, LLC,

	 an Ohio limited liability company

		
	 By:
	 	 AL. NEYER, LLC,

		 	 an Ohio limited liability company,

		 	 its Manager

			
		 	 By:
	 	 /s/ Lesley Koth

		 		 	 Name: Lesley Koth

		 		 	 Title: Senior Vice President &

		 		 	 General Counsel

	
	PURCHASER:
	
	 KRYSTAL BIOTECH, INC.,

	 a Delaware corporation

		
	 By:
	 	 /s/ Krish S. Krishnan

		 	 Krish S. Krishnan,

		 	 President and Chief Executive Officer

	
	ESCROW AGENT:
	
	 CHICAGO TITLE INSURANCE COMPANY

		
	 By:
	 	
                 

		 	 Erin M. Fagnilli

		 	 Vice President and Counsel

  
 B-5 

 EXHIBIT C 

FORM OF GROUND LESSOR ESTOPPEL 

ESTOPPEL CERTIFICATE 

The undersigned, Allegheny County Airport Authority, a body politic organized under the Municipal Authorities Act of 1945, for
itself and as agent for the County of Allegheny (“Airport Authority”), in connection with the closing of the purchase and sale transaction contemplated by that certain Purchase and Sale Agreement (the “Purchase
Agreement”) by and between Northfield I, LLC, an Ohio limited liability company (“Seller”) and KRYSTAL BIOTECH, INC., a Delaware corporation (“Purchaser”), effective as of January 29, 2021, whereby the
Purchaser will purchase, inter alia, Seller’s right, title and interest (the “Leasehold Interest”) in that certain Ground Lease Agreement (the “Ground Lease”) by and between the Airport Authority, as
Lessor, and the Seller, as Lessee, dated December 26, 2019, hereby states, represents, warrants and certifies to the Purchaser as of this ____ day of _____________, 2021, as follows: 

1. The undersigned is the Authority pursuant to that certain Airport Operation, Management and Transfer Agreement and Lease,
dated September 16, 1999, by and between The County of Allegheny, Pennsylvania, a municipal corporation and political subdivision organized and existing under the laws of the Commonwealth of Pennsylvania (the “County”), as
lessor, and the Airport Authority, as lessee, as amended by that certain First Amendment to Airport Operation, Management and Transfer Agreement and Lease dated November 11, 1999, and as further amended by that certain Second Amendment to
Airport Operation, Management and Transfer Agreement and Lease dated December 1999 (as amended, the “County/ACAA Lease”). Defined terms used, but not defined herein, shall have the respective meanings therefor set forth in the
County/ACAA Lease. 
 2. Except as set forth in Item 1 above, the County/ACAA Lease is unmodified. The County/ACAA Lease is
in full force and effect. 
 3. The date of the last rental payment under the County/ACAA Lease is: ____________. The Airport
Authority is not in default in the payment of rent under the Lease. 
 4. There are no charges which the undersigned claims
as a lien against the leasehold estate of the Airport Authority. 
 5. The undersigned recognizes the validity of
Seller’s assignment to Purchaser of the Leasehold Interest, on such terms and conditions as are agreed to between such parties, and has no objection to such assignment. 

6. The undersigned has no objection to, following Seller’s assignment to Purchaser of the Leasehold Interest,
Purchaser’s mortgaging of the Leasehold Interest, subject to the Airport Authority’s approval in accordance with the terms of the Ground Lease. 

7. To the best of the undersigned’s knowledge, (i) the County is not in default of performance of any covenant,
agreement, term, provision or condition contained in the County/ACAA Lease, and (ii) Seller is not in default of performance of any covenant, agreement, term, provision or condition contained in the Ground Lease. 

  
 C-1 

 8. The Airport Authority is not in default of performance of any covenant,
agreement, term, provision or condition contained in either the County/ACAA Lease or the Ground Lease. 
 9. The
“Lessee’s Proportionate Share of CAM for the Common Areas”, as defined in the Ground Lease, is 9.233%. 
 10.
The “Delivery Date”, as defined in the Ground Lease, occurred on May 4, 2020. 
 11. The “Rent
Commencement Date”, as defined in the Ground Lease, will be the earliest to occur of the following dates: (a) the date upon which all occupancy permit(s) necessary for the occupancy of the Improvements (whether temporary or permanent) have
been issued; (b) the date upon which Purchaser commences occupancy of the Improvements; and (c) May 4, 2021. 

12. Base Rent is payable under the Ground Lease in accordance with the following schedule, beginning on the Rent Commencement
Date (as defined in the Ground Lease): 
  

																	
	 Lease Years
	  	Rate / SF
of
Buildable
Area	 	  	SF of Buildable
Area	 	  	Annual Base Rent	 	  	Monthly Base Rent	 
	 1 through 5
	  	$	0.23	 	  	 	357,192	 	  	$	82,154.16	 	  	$	6,846.18	 
	 6 through 10
	  	$	0.253	 	  	 	357,192	 	  	$	90,369.60	 	  	$	7,530.80	 
	 11 through 15
	  	$	0.2783	 	  	 	357,192	 	  	$	99,406.56	 	  	$	8,283.88	 
	 16 through 20
	  	$	0.3061	 	  	 	357,192	 	  	$	109,336.44	 	  	$	9,111.37	 
	 21 through 25
	  	$	0.3367	 	  	 	357,192	 	  	$	120,266.52	 	  	$	10,022.21	 
	 26 through 30
	  	$	0.3704	 	  	 	357,192	 	  	$	132,303.96	 	  	$	11,025.33	 
	 31 through 35
	  	$	0.4075	 	  	 	357,192	 	  	$	145,555.80	 	  	$	12,129.65	 
	 36 through 40
	  	$	0.4482	 	  	 	357,192	 	  	$	160,093.44	 	  	$	13,341.12	 
	 41 through 45
	  	$	0.4930	 	  	 	357,192	 	  	$	176,095.68	 	  	$	14,674.64	 
	 46 through 50
	  	$	0.5423	 	  	 	357,192	 	  	$	193,705.20	 	  	$	16,142.10	 

 13. The Airport Authority hereby (a) confirms that it has received, and currently holds,
the sum of $41,077.08 as the Security Deposit under Section 5.2 of the Ground Lease and (b) acknowledges that Seller’s interest in and to the Security Deposit will be assigned and transferred to Purchaser at the closing of the
transactions contemplated by the Purchase Agreement. 
 14. The Airport Authority hereby confirms that it has prospectively
consented to Seller’s assignment of the Leasehold Interest to Purchaser pursuant to Section 8.1 of the Ground Lease and, accordingly, the Airport Authority hereby waives any right of first offer it may have pursuant to Section 12.4 of
the Ground Lease in connection with Seller’s assignment of the Leasehold Interest to Purchaser. 

  
 C-2 

 15. To the best of the undersigned’s knowledge, all contingencies set
forth in Section 17.13 of the Ground Lease have been satisfied or waived. The Airport Authority has no right to terminate the Ground Lease pursuant to Section 17.13 of the Ground Lease. 

[Remainder of page intentionally blank. Signature page follows.] 

  
 C-3 

 The undersigned has executed this Estoppel Certificate as of the day and
year first above written. 
  

			
	THE ALLEGHENY COUNTY AIRPORT AUTHORITY
		
	 By:
	 	
                 

	 Print:
	 	  

	 Title:
	 	  

  
 C-4 

 EXHIBIT D 

SELLER ITEMS TO COMPLETE 
  

	1.	 Aluminum Store Front – Seller to install one (1) exterior window on the west side of the Building
per the design specifications shown below. Seller represents to Purchaser that said window has been installed in accordance with the design specifications shown below as of the Effective Date, which installation shall be verified by a joint walk
through of the Improvements on February 1, 2021. 

  
 

 
  

	2.	 Warehouse Heating and Ventilation – Seller to verify that installed heating and cooling units are in
good working order. Seller represents to Purchaser that said heating and cooling units are in good working order as of the Effective Date, which shall be verified by a joint walk through of the Improvements on February 1, 2021.

  
 D-1 

 SCHEDULE 1.01(c) 

List of Personal Property 
 NONE.

  
 Schedule 1.01(c) 

 SCHEDULE 1.01(d) 

List of Intangible Property 

Prior to the end of the Due Diligence Period, Seller shall produce a list of all (i) utility contracts, (ii) warranties
(e.g., in respect of the roof and HVAC systems serving the Building) issued with respect to any portion of the Improvements, (iii) Seller’s rights to receive or recover property or damages on a cause of action under any warranty
related to the Improvements (if any), (iv) Licenses and Permits, together with any deposits made by Seller or its agents thereunder, to the extent such Licenses and Permits and deposits are transferable, and (v) Plans and Specifications, to the
extent prepared by or on behalf of Seller. Said list shall be incorporated into this Agreement as Schedule 1.01(d) upon completion. 

  
 Schedule 1.01(d) 

 SCHEDULE 1.01(e) 

List of Contracts 
  

	1.	 Management Agreement with CBRE, Inc., which shall be terminated prior to Closing. Purchaser will not assume
this Contract at Closing. 

  
 Schedule 1.01(e) 

 SCHEDULE 2.01 

Allocation of Purchase Price 
 [To
be completed by the Parties during the Due Diligence Period] 

  
 Schedule 2.01

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