Document:

EX-10.11

 Exhibit 10.11 

OFFICE & PARKING LEASE 

700-706, 710 & 714 

Division Street 

Nashville, TN 37203 
 By
and between 
 SEV 8th and Division, LLC 

“Landlord” 
 And

 Eargo, Inc. 

“Tenant” 
 This Lease consists of
three parts: 
  

					
		 	Part I	  	Major Lease Terms
		 	Part II	  	Standard Lease Provisions
		 	Part III	  	Exhibits
			
		 		  	EXHIBIT A – Site Plan of the Property
		 		  	EXHIBIT B – Plan of the Premises
		 		  	EXHIBIT C – Tenant Permitted & Prohibited Parking on the Property
		 		  	 EXHIBIT D – Site Plan of the Additional Property for Parking

 MAJOR LEASE TERMS 

The terms listed below shall have the following meanings throughout this Lease. 

 

			
	DATE OF LEASE	  	The Effective Date of the Lease shall be the date of execution by the last party to sign this Lease.
		
	LANDLORD	  	SEV 8th and Division, a Tennessee Limited Liability Company 
C/O Southeast Venture 
4011 Armory Oaks Drive 
Nashville, TN 37204
		
	TENANT	  	Eargo, Inc., a Delaware Corporation 
800 6th Avenue South 
Suite 110 
Nashville, TN 37203
		
	MANAGER	  	Southeast Venture LLC 
4011 Armory Oaks Drive 
Nashville, TN 37204
		
	ADDRESS FOR RENTAL
PAYMENTS	  	Southeast Venture LLC 
4011 Armory Oaks Drive 
Nashville, TN 37204
		
	PROPERTY	  	The Property is the land outlined on Exhibit A Site Plan and all improvements thereon.
		
	BUILDING	  	The Building is the structure consisting of 19,897 square feet on the Property as shown on Exhibit A Site Plan.
		
	PREMISES	  	The Premises is the portion of the Building consisting of 14,965 rentable square feet as shown on Exhibit C, with an address of 716 Division Street, Nashville, TN 37204 (the “Premises”), as shown on Exhibit B.
		
	ADDITIONAL PROPERTY FOR PARKING	  	The Additional Property for Parking is the land and improvements outlined on Exhibit D.
		
	TENANT’S 
PERCENTAGE SHARE 
OF PROPERTY AND 
BUILDING EXPENSES	  	75.21%
		
	PERMITTED USES	  	Office use and no other purpose

			
		
	LEASE 
COMMENCEMENT 
DATE	  	March 15, 2019
		
	RENT 
COMMENCEMENT 
DATE	  	April 1, 2019
		
	EXPIRATION DATE	  	March 31, 2021
		
	TERM	  	The period of time beginning on the Lease Commencement Date and ending on the Expiration Date as extended by the options granted to Tenant in this Lease.
		
	EXTENSION OF THE 
TERM	  	 Tenant shall have two options to extend this Lease. The Options cannot be used in conjunction with each other. The Option terms and
conditions are as follows:
  
 Option 1. Tenant shall have a onetime right to
extend this Lease from the current Expiration Date to March 31, 2022 (the “One Year Extension”). Tenant’s right to exercise the One Year Extension is conditioned on the following, (i) Tenant shall not be in default of the
Lease at the time Tenant exercises the One Year Extension, (ii) Tenant shall give written notice to Landlord exercising the One Year Extension on or before 5:00 PM, September 30, 2020.

 
 Tenant’s Base Rent for the One Year Extension shall be Thirty-One Thousand Four Hundred and Forty-Five and 21/100 Dollars per month ($31,445.21). All other terms and conditions of the Lease shall remain in full force and effect.
Notwithstanding the above, Landlord shall have the right to terminate Tenant’s right to exercise the One Year Extension by giving Tenant written notice no later than 5:00 PM June 30, 2020.

 
 Option 2. Tenant shall have a onetime right to extend this Lease from the current
Expiration Date to May 31, 2021 (the “Two Month Extension”). Tenant’s right to the Two Month Extension is conditioned on the following, (i) Tenant shall not be in default of the Lease at the time Tenant exercises the Two
Month Extension, (ii) Tenant shall give written notice to Landlord exercising the Two Month Extension on or before 5:00 PM, December 31, 2020.
  

Tenant’s Monthly Base Rent for the Two Month Extension shall be Thirty Thousand Six Hundred Seventy-Eight and
25/100 Dollars ($30,678.25) per month. All other terms and conditions of the Lease shall remain in full force and effect.

  
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	BASE RENT	  	Beginning on the Rent Commencement Date Tenant shall pay Base Rent without notice, demand or set off in the amount of Twenty-Nine Thousand Nine Hundred Thirty and No/100 Dollars ($29,930.00)
per month. The Base Rent shall increase to Thirty Thousand Six Hundred Seventy-Eight and 25/100 Dollars ($30,678.25) on April 1, 2020.
		
	ADDITIONAL RENT	  	Beginning on the Rent Commencement Date, Tenant shall pay its Percentage Share of Expenses of the Real Estate Taxes, Insurance and Operating Expenses for the Property and the Building and Tenant shall also pay Landlord for One
Hundred percent of the Real Estate Taxes, Insurance and Operating Expenses for the Additional Property for Parking. All of the above expenses shall be defined as “Additional Rent” in this Lease. Landlord’s good faith estimate of the
Additional Rent is Thirteen Thousand Six Hundred Twelve and 23/100 Dollars ($13,412.363) per month.
		
	UTILITIES	  	Tenant shall place all utilities, including electricity, gas and water in Tenant’s name and pay these costs directly to the appropriate utility company.

  
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 STANDARD LEASE PROVISIONS 

ARTICLE I: PREMISES 
  

	1.1	 PREMISES 

  

	 	(a)	 Demise of Premises. This Lease (the “Lease”) is made and entered into by and between Landlord
and Tenant and shall become effective as of the Effective Date. In consideration of the mutual covenants made herein, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises, and The Additional Property for Parking on
all of the terms and conditions set forth in this Lease. 

  

	 	(b)	 Access to Premises and Additional Property for Parking. Landlord shall have reasonable access to the
Premises and the Additional Property for Parking, at any time during the Term, to inspect Tenant’s performance hereunder and to perform any acts required of or permitted to Landlord herein, including, without limitation, (i) the right to
make any repairs or replacements Landlord deems necessary, (ii) the right to show the Premises and the Additional Property for Parking to prospective tenants, purchasers and mortgagees. Landlord shall at all times have a key to the Premises,
and Tenant shall not change any existing lock(s), nor install any additional lock(s) without Landlord’s prior consent. Except in the case of any emergency and as otherwise provided in this Lease, any entry into the Premises by Landlord shall be
on reasonable advance notice of not less than twenty-four (24) hours, except in an emergency, in which event no notice shall be required. Notices may be given orally to Tenant’s representative at the
Premises. Landlord will use commercially reasonable efforts to not interfere with Tenant’s business at the Premises. 

  

	1.2	 COMMON AREAS 

Tenant shall have the right to use, in common with other tenants, Landlord and others to whom rights are now or hereinafter granted by
Landlord, the Property and the Building’s common walkways, driveways and parking areas (“Common Areas”). Tenant’s use of the Common Areas including the parking shall be on an unreserved,
non-exclusive basis and solely for Tenant’s employees and visitors. Tenant’s right to use the parking in the Common Areas shall be limited as follows: Tenant shall have the right at all times to use
the parking areas labeled Area A, B, and D on the attached Exhibit B. Tenant shall have the right to use the parking area labeled Area C at all times, with the exception that in no event shall Tenant, its employees and visitors use the parking area
labeled Area C from 7:00 PM to 10:00 PM. Further, as a part of this Lease, Tenant shall have the right to use the parking on the Additional Property for Parking at all times. Any improvements desired by Tenant or required by any governmental or
municipal entity on the Additional Property for Parking shall be at Tenant’s sole cost and expense. Landlord shall not be liable to Tenant, and this Lease shall not be affected, if any parking rights of Tenant hereunder are impaired by any law,
ordinance or other governmental regulation imposed after the Effective Date, provided, however, that if any such parking impairment materially affects Tenant’s ability to reasonably operate its business, Base Rent and Additional Rent shall be

  
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equitably abated to account for such impairment. If Landlord grants to any other tenant the exclusive right to use any particular parking spaces, neither Tenant nor its visitors shall use such
spaces; provided, however, that if any such exclusive grant to a third party results in a material reduction in the number of parking spaces available to Tenant, Base Rent and Additional Rent shall be equitably abated to account for such reduction.

 Use of the Common Areas shall be only upon the terms set forth at any time by Landlord. Landlord may at any time and in any manner make
any changes, additions, improvements, repairs or replacements to the Common Areas that it considers desirable, provided that Landlord shall give Tenant prior written notice of such repairs and shall use reasonable efforts to minimize interference
with Tenant’s normal activities. Such actions of Landlord shall not constitute constructive eviction or give rise to any rent abatement or liability of Landlord to Tenant. 

 

	1.3	 RESTROOM USAGE AND FEE 

Tenant shall the right to use the restroom (the “Restroom”) and access thereto as shown on Exhibit B, subject to reasonable closures
for routine maintenance, repair and upkeep and that the bill for the the Restroom water usage shall not be in the name of the Tenant. Tenant shall pay to Landlord on the first of each calendar month as additional rent $100.00 as the Restroom Usage
Fee. 
 ARTICLE II: TERM 
  

	2.1	 COMMENCEMENT 

The Term shall begin on the Lease Commencement Date and shall end on the Expiration Date, or as extended by options provided in this Lease. If
for any reason Landlord is unable to deliver possession of the Premises to Tenant on the anticipated Lease Commencement Date (March 15, 2019), this Lease shall not be terminated, but the Rent Commencement Date shall be proportionately delayed until
the date two (2) weeks after the actual Lease Commencement Date. Notwithstanding the foregoing, if for any reason Landlord is not able to deliver the Premises to Tenant on or before May 1, 2019, Tenant may terminate this Lease by written
notice to Landlord whereupon all sums previously paid by Tenant to Landlord shall be reimbursed by Landlord to Tenant. 
 ARTICLE III:
RENT 
  

	3.1	 BASE RENT 

  

	 	(a)	 Payment of Base Rent. Commencing on the Rent Commencement Date and throughout the Term, Tenant shall pay
the Base and Additional Rent each month in advance no later than the fifth day of each calendar month during the Term. All payments shall be made to Manager at Manager’s Address or to such other party or to such other place as Landlord may
designate in writing, without prior demand, abatement, deduction or offset. All charges to be paid by Tenant hereunder shall be considered rent for the purposes of this Lease, and the words “rent” or “Rent” as used in this Lease
shall mean both Base Rent and Additional Rent unless the context specifically or clearly indicates that only one or the other is referenced. 

  
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	 	(b)	 Late Payments. Tenant acknowledges that the late payment by Tenant to Landlord of any rent or other sums
due under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impracticable to ascertain. Therefore, if any rent or other sum due from Tenant is not received
within five (5) days of its due date, Tenant shall pay to Landlord no later than ten (10) calendar days after the due date an additional sum equal to 5% of such overdue payment. In addition to such late charge, all such delinquent rent or
other sums due to Landlord, including the late charge, shall bear interest beginning on the date such payment was due at the greater of (a) 10% per annum and (b) 4% over the then applicable prime rate of Bank of America N.A. (the “Default
Rate”). The notice and cure period provided in Paragraph 8.1(a) does not apply to the foregoing late charges and interest. If payments of any kind are returned for insufficient funds Tenant shall pay to Landlord an additional handling charge of
$50.00. The foregoing charges and interest shall be in additional to all of Landlord’s other rights and remedies. 

  

	3.2	 ADDITIONAL RENT FOR OPERATING EXPENSES, TAXES, AND INSURANCE 

 

	 	(a)	 Additional Rent. In addition to the monthly payment of Base Rent, commencing on the Rent Commencement
Date, Tenant shall pay to Landlord Additional Rent on a monthly basis as follows. 

  

	 	(b)	 Estimate of Tenant’s Share of Expenses. Landlord shall give Tenant an annual estimate for
Additional Rent. Tenant shall pay one-twelfth (1/12) of the estimated amount of Additional Rent with each monthly payment of Base Rent during the Term of the Lease. At the end of each calendar year, Landlord
shall give Tenant a statement (the “Tenant’s Additional Rent Statement”) showing the Additional Rent for the prior Year. Any underpayment by Tenant shall be paid to Landlord within thirty (30) days after delivery of the
Tenant’s Additional Rent Statement, notwithstanding that such statement may be delivered subsequent to the expiration or termination of this Lease; any overpayment shall be credited against the next installment of Rent due, provided that any
overpayment shall be paid to Tenant within thirty (30) days after the Expiration Date. 

  

	 	(c)	 The following terms when used herein shall have the following meanings: 

 

	 	i.	 Taxes. The ad valorem taxes imposed on the Property (or any tax hereafter imposed in lieu thereof with
the exception of franchise and excise tax any tax measured by Landlord’s income. 

  

	 	ii.	 Operating Expenses. Any cost for the repair, maintenance, management and operation of the Property,
Building or Premises or Additional Property for Parking including, without limitation, (1) premiums and deductibles for insurance; (2) all costs of supplies, materials, equipment, and utilities used

  
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in or related to the operation, maintenance, and repair the Property, Building or Premises or Additional Property for Parking or any part thereof and utilities, unless the cost of any utilities
is to be paid for separately by Tenant; (3) all management, inspection, legal, accounting, and service agreement costs related to the operation, maintenance, and repair of the Property, Building or Premises or Additional Property for Parking
Property or any part thereof. Any of the above services may be performed by Landlord or its affiliates, provided that fees for the performance of such services shall be reasonable and competitive with fees charged by unaffiliated entities for the
performance of such services in comparable buildings in the area. Notwithstanding anything to the contrary in this clause (ii), Operating Expenses shall not include: (a) depreciation, interest and principal payments on mortgages and other debt
costs; (b) costs for which the Landlord is reimbursed by any third party; (c) capital costs occasioned by casualty or condemnation; (d) costs incurred to comply with laws relating to the presence, removal or remediation of Hazardous
Materials (not specifically the obligation of Tenant hereunder); or (e) costs incurred to remedy any construction defect or to comply with any law which first became effective prior to the Lease Commencement Date. Any capital cost (including
capital costs included in Operating Expenses pursuant to Section 6.2) shall be amortized over the reasonable useful life of such capital item and the amount included in Operating Expenses shall be limited to the monthly amortized cost thereof.

  

	 	iii.	 Audit. Tenant and its representatives may at any reasonable time within six (6) months after the
date of receipt of any Additional Rent Statement, inspect and audit the books and records of Landlord respecting the Additional Rent Statement. Should an audit show that any Additional Rent Statement was inaccurate, the parties will make an
adjustment to reflect the actual Tenant’s Share of Operating Expenses, Insurance and Taxes for the year in question. If an audit shows that Landlord has overstated Tenant’s Share of Operating Expenses and Taxes by more than five percent
(5%) in the aggregate, then Landlord shall pay to Tenant the reasonable and actual out-of-pocket cost of the audit incurred by Landlord. 

ARTICLE IV: DELIVERY OF PREMISES 
  

	4.1	 CONDITION OF PREMISES TENANT’S AND ACCEPTANCE OF POSSESSION 

Landlord shall deliver the Premises with the Building structure and Building Systems (as defined in Section 5.1 below) in good condition
and repair. Upon Landlord’s tender thereof, Tenant shall accept possession and enter in good faith occupancy of the Premises, including those rights granted for use of the Common Areas and Additional Property for Parking. 

  
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	4.2	 Tenant’s taking possession of any part of the Property, Building or Premises or Additional Property
for Parking shall be deemed to be an acceptance and an acknowledgment by Tenant that (i) Tenant has had an opportunity to conduct, and has conducted, such inspections of the Property, Building or Premises or Additional Property for Parking as
it deems necessary to evaluate their condition, (ii) except as otherwise specifically provided herein, Tenant accepts possession of the Property, Building or Premises or Additional Property for Parking in their then existing “as-is” condition, (iii) neither Landlord, nor any of Landlord’s agents, has made any oral or written representations or warranties with respect to such matters other than as set forth in the
Lease, except as provided herein. 

 ARTICLE V: ALTERATIONS AND TENANT’S PERSONAL PROPERTY 

 

	5.1	 ALTERATIONS 

  

	 	(a)	 Landlord’s Consent. Tenant shall not make any alterations, additions, installations, substitutes or
improvements (“Alterations”) in and to the Property, Building, Premises and/or the Additional Property for Parking without first obtaining Landlord’s written consent, not to be unreasonably withheld. Without limiting the foregoing,
Alterations shall include wiring, cabling and related installations for telephone, computer, voice data and other office systems. Landlord shall not unreasonably withhold, condition or delay its consent; provided, however, that Landlord shall have
no obligation to consent to Alterations that could affect any structure on the Property, Building, Premises and/or Additional Property for Parking Building or that would violate the certificate of occupancy for the Property, Building, Premises and
Additional Property for Parking or any applicable law, code or ordinance or the terms of any superior lease or mortgage affecting the Property, Building, Premises and Additional Property for Parking or that would increase the rate of insurance for
the Property, Building, Premises and Additional Property for Parking or would adversely affect any Building system, including, but not limited to, any mechanical, electrical, heating, ventilation or air conditioning system, fire protection system,
or other system serving the Building (collectively, “Building Systems”). No consent given by Landlord shall be deemed as a representation or warranty that such Alterations comply with laws, regulations and rules applicable to the Property,
Building, Premises and Additional Property for Parking (“Laws”), and Tenant shall be solely responsible for compliance therewith. Tenant shall pay Landlord’s reasonable costs of reviewing or inspecting any proposed Alterations and any
other costs that may be incurred by Landlord as a result of such Alterations. 

  

	 	(b)	 Workmanship. All Alterations shall be done at reasonable times in a
first-class workmanlike manner, by contractors mutually approved by Landlord and Tenant, and according to plans and specifications previously approved by Landlord. All work shall be done in compliance with all
Laws, and with all regulations of the Board of Fire Underwriters or any similar insurance body or bodies. Tenant shall be solely responsible for the effect of any Alterations on the Property, Building, Premises and/or Additional Property for
Parking’s structure and systems, notwithstanding that Landlord has consented to the Alterations, and shall reimburse Landlord on demand for any costs incurred by Landlord by reason of any faulty work done by Tenant or its contractors.

  
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	 	(c)	 Mechanics and Other Liens. Tenant shall keep the Property, Building, Premises and Additional Property
for Parking and Tenant’s leasehold interest therein free of any liens or claims of liens, and shall discharge any such liens within ten (10) Business Days of their filing. Before commencement of any work, Tenant’s contractor shall
provide evidence of such insurance as Landlord may require, naming Landlord, Landlord’s Manager and lender as an additional insured. Tenant shall indemnify Landlord and hold it harmless from and against any cost, claim, or liability arising
from any work done by or at the direction of Tenant. 

  

	 	(d)	 Removal of Alterations. All Alterations affixed to the Property, Building or Premises or Additional
Property for Parking shall become part thereof and remain therein at the end of the Term. However, if Landlord gives Tenant notice, at the time of Landlord’s approval of Tenant’s Alterations, that Landlord will require Tenant to remove any
Alterations at the end of the Term, Tenant shall so remove the Alterations, make any repair required by such removal, and restore the Property, Building or Premises or Additional Property for Parking to their original condition prior to the date
Tenant is required to surrender the Premises to Landlord. 

  

	5.2	 TENANT’S PERSONAL PROPERTY 

Tenant may provide and install, and shall maintain in good condition, all trade fixtures, personal property, equipment, furniture and moveable
partitions required in the conduct of its business in the Premises. All of Tenant’s personal property, trade fixtures, equipment, furniture, movable partitions, and any Alterations not affixed to the Premises shall remain Tenant’s property
(“Tenant’s Property”). 
 ARTICLE VI: LANDLORD’S COVENANTS AND RESERVED RIGHTS 

 

	6.1	 SERVICES PROVIDED BY LANDLORD 

 

	 	(a)	 Separately Metered Utilities. The utilities for the Premises are separately metered. Beginning on the
Lease Commencement Date, Tenant shall place all separately metered utilities in Tenant’s name and pay all charges for all separately billed gas, electricity, telephone and other utility services used, rendered or supplied upon or in connection
with the Premises and shall indemnify Landlord against liability or damage on such account. The costs of any utilities which are not separately metered shall be included as an Operating Expense. Tenant shall not waste or permit the waste of water or
any other utilities. 

  

	 	(b)	 Graphics and Signs. Tenant shall provide, at Tenant’s expense, identification of Tenant’s name
and suite numerals at the main entrance door to the Premises. Tenant shall have the right to install one building mounted sign on the facade of the Building facing 8th Avenue or the facade of the Building facing 8th Division Street. All signs,
notices, graphics and decorations of every kind or character shall be subject to Landlord’s prior written approval, which Landlord shall not unreasonably withhold, condition or delay. 

  
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	 	(c)	 Right to Cease Providing Services. In case of Force Majeure or in connection with any repairs,
alterations or additions to the Property, Building, Premises and Additional Property for Parking Property, or any other acts required of or permitted to Landlord herein, Landlord may reduce or suspend service of the utilities, facilities or
supplies, provided that Landlord shall use reasonable diligence to restore such services, facilities or supplies as soon as possible. No such reduction or suspension shall constitute an actual or constructive eviction or disturbance of Tenant’s
use or possession of the Premises or relieve the Tenant from paying Rent or performing any of its obligations under this Lease; provided, that if the reduction or suspension prevents or materially interferes with Tenant’s ability to operate its
business in the Premises or to park in the Additional Property for Parking Property, for more than five (5) consecutive business days, then Rent shall be abated or reduced, as the case may be, for so long as such prevention or material
interference continues on an equitable basis as reasonably determined by Landlord and Tenant. 

  

	6.2	 REPAIRS AND MAINTENANCE 

Landlord shall repair and maintain (i) the Common Areas, (ii) the structural portions of the Building, (iii) the exterior walls
of the Building (including exterior windows and glazing), (iv) the roof, and (v) the basic plumbing, electrical, mechanical and heating, ventilating and air-conditioning systems serving the Premises,
in the manner and to the extent customarily provided by landlords in similar buildings in the area. Tenant shall pay for such repairs as a part of Operating Expenses. If any maintenance, repair or replacement is required because of any act, omission
or neglect of duty by Tenant or its agents, employees, invitees or contractors, the cost thereof shall be paid by Tenant to Landlord as additional rent within thirty (30) days after billing. 

Notwithstanding the above and normal and customary costs for preventive maintenance, Tenant’s cost for any repairs to the mechanical,
heating, ventilating and air conditioning system, shall be limited to $1,500 per occurrence, not to exceed $5,000 in any consecutive twelve (12) month period, so long as such failure is not due to any act omission or neglect of duty by Tenant
or its agents, employees, invitees or contractors. 
  

	6.3	 QUIET ENJOYMENT 

Upon Tenants paying the rent and performing its other obligations, Landlord shall permit Tenant to peacefully and quietly hold and enjoy the
Premises, subject to the provisions of this Lease. 
  

	6.4	 INSURANCE 

Landlord shall insure the Property, Building, Premises and Additional Property for Parking Property against damage by fire and standard
extended coverage perils in the amount of the full replacement cost thereof, and shall carry public liability insurance; all in such reasonable amounts as would be carried by a prudent owner of a similar building in the area. The cost of such
insurance shall be an Operating Expense. Landlord may carry any other forms of insurance as it or its mortgagee may deem advisable which also shall be considered an Operating Expense. Insurance obtained by Landlord shall not be in lieu of any
insurance required to be maintained by Tenant. Landlord shall not carry any insurance on Tenant’s Property, and shall not be obligated to repair or replace any of Tenant’s Property. 

  
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	6.5	 RESERVED RIGHTS 

Landlord reserves the following rights, exercisable without notice (except as specified below) and without liability to Tenant for damage or
injury to property, person or business and without effecting an eviction or disturbance of Tenant’s use or possession or giving rise to any claim for setoff or abatement of rent or affecting any of Tenant’s obligations under this Lease:

  

	 	(a)	 To change the name or street address of the Building. 

 

	 	(b)	 To install and maintain signs on the exterior and interior of the Building, and to prescribe the location and
style of the suite number and identification sign or lettering for the Premises occupied by the Tenant. 

  

	 	(c)	 To retain at all times, and to use in appropriate instances, pass keys to the Premises, subject to the notice
provisions in this Lease. 

  

	 	(d)	 To exhibit the Property, Building, Premises and Additional Property for Parking at reasonable hours.

  

	 	(e)	 To enter the Property, Building, Premises and Additional Property for Parking at reasonable hours for
reasonable purposes, including the posting of notices of non-responsibility, inspection and supplying janitor service or other services to be provided to Tenant hereunder. 

 

	 	(f)	 To control access and prevent unauthorized access to Common Areas and other areas. 

 

	 	(g)	 Provided that reasonable access to the Premises shall be maintained and the business of Tenant shall not be
interfered with unreasonably, to relocate, enlarge, reduce or change corridors, exits, entrances in or to the Property, Building, Premises and Additional Property for Parking and to decorate and to make repairs, alterations, additions and
improvements, structural or otherwise, in or to the Property, Building, Premises and Additional Property for Parking or any part thereof, and any adjacent building, land, street or alley, including for the purpose of connection with or entrance into
or use of the Property, Building, Premises and Additional Property for Parking in conjunction with any adjoining or adjacent building or buildings, now existing or hereafter constructed, and may for such purposes erect scaffolding and other
structures reasonably required by the character of the work to be performed, and during such operations may enter upon the Premises and take into and upon or through any part of the Building, including the Premises, all materials that may be
required to make such repairs, alterations, improvements, or additions, and in that connection Landlord may temporarily close 

  
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public entry ways, other public spaces, stairways or corridors and interrupt or temporarily suspend any services or facilities agreed to be furnished by Landlord, all without the same
constituting an eviction of Tenant in whole or in part and without abatement of rent by reason of loss or interruption of the business of Tenant or otherwise and without in any manner rendering Landlord liable for damages or relieving Tenant from
performance of Tenant’s obligation under this Lease; Landlord may at its option make any repairs, alterations, improvements and additions in and about the Building and the Premises during ordinary business hours and, if Tenant desires to have
such work done during other than business hours, Tenant shall pay all overtime and additional expenses resulting therefrom. In the exercise of its rights under this Subsection (b), Landlord shall make commercially reasonable efforts not to
unreasonably interfere with the business operations of Tenant. If Landlord’s relocation or alteration of any exits, entrances in or to the Property Building, Premises or Additional Property for Parking trigger any ADA compliance obligations,
Landlord shall comply with same at is sole cost and expense (and without reimbursement as an Operating Cost). 

 ARTICLE
VII: LANDLORD’S COVENANTS AND RESERVED RIGHTS 
  

	7.1	 REPAIRS, MAINTENANCE AND SURRENDER 

 

	 	(a)	 Repairs and Maintenance. Except for Landlord’s repair and maintenance obligations set forth in
Section 6.2, Tenant shall keep the Premises in good order and condition, and shall promptly repair any damage to the Premises. All repairs shall be made in a workmanlike manner and any replacements or substitutions shall be of a quality,
utility, value and condition similar to or better than the replaced or substituted item. 

  

	 	(b)	 Surrender. At the end of the Term, Tenant shall peaceably surrender the Property, Building, Premises and
Additional Property for Parking in good order, repair and condition, except for reasonable wear and tear, and Tenant shall remove Tenant’s Property and (if required by Landlord pursuant to Section 5.1(d)) any Alterations, repairing any
damage caused by such removal and restoring the Premises and leaving them clean and neat. Any property not so removed shall be deemed abandoned and may be retained by Landlord or may be removed and disposed of by Landlord in such manner as Landlord
shall determine. Tenant shall be responsible for costs and expenses incurred by Landlord in removing any Alterations and disposing of any such abandoned property, making any incidental repairs and replacements to the Premises, and restoring the
Premises to their original condition. 

  

	7.2	 USE 

  

	 	(a)	 General Use. Tenant shall use the Property, Building, Premises and Additional Property for Parking only
for the Permitted Use, and shall not use or permit the Property, Building, Premises and Additional Property for Parking to be used in violation of any law or ordinance or of any certificate of occupancy issued for the

  
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Building or the Premises. Tenant shall not cause, maintain or permit any nuisance in, or commit or allow any waste on or about the Property, Building, Premises and Additional Property for
Parking. Tenant, at Tenant’s sole cost, shall obtain all business licenses, operating permits and other approvals for the operation of Tenant’s business at the Premises. 

 

	 	(b)	 Obstructions and Exterior Displays. Tenant shall not obstruct any of the Property, Building, Premises
and Additional Property for Parking outside the Premises, and shall not, except as otherwise previously approved by Landlord, place or permit any signs, decorations, curtains, blinds, shades, awnings, aerials or flagpoles, or the like.

  

	 	(c)	 Compliance with Insurance Policies. Tenant shall not keep or use any article in the Premises, or permit
any activity therein, which is prohibited by any insurance policy covering the Building, or would result in an increase in the premiums thereunder. 

  

	7.3	 SUBLET OR ASSIGNMENT 

Tenant shall have the right to assign or sublease all of any part of the Premises to any related entity, subsidiary, successor or affiliate of
Tenant without Landlord’s consent or any profit-sharing. Otherwise, Tenant shall have the right to assign or sublease its rights under this Lease or sublet the whole or any part of the Property, Building,
Premises and Additional Property for Parking with Landlord’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed. Any sublease profits under a transfer that requires Landlord’s consent shall be split
50/50 between Landlord and Tenant after Tenant deducts reasonable fees for marketing, tenant improvements, demising costs, legal expenses and brokerage fees. 
  

	7.4	 INDEMNITIES 

  

	 	(a)	 Tenant, at Tenant’s expense, shall defend (with counsel satisfactory to Landlord), indemnify and hold
harmless Landlord and Landlord’s agents, employees, invitees, licensees and contractors from and against any cost, claim, action, liability or damage of any kind arising from (i) Tenant’s use and occupancy of the Property, Building,
Premises and Additional Property for Parking, or any activity done or permitted by Tenant, in, on or about the Property, Building, Premises and Additional Property for Parking, (ii) any breach or default by Tenant of its obligations under this
Lease, or (iii) any negligent, tortious or illegal act or omission of Tenant, its agents, employees, invitees, licensees or contractors. The obligations of Tenant under this paragraph shall survive the expiration or termination of this Lease.
Nothing in this paragraph shall relieve Landlord from, or require Tenant to indemnify Landlord against, liability for damages to property or injury to person caused by the negligence or willful misconduct of Landlord or its agents, employees or
contractors. All property kept, stored or maintained in the Property, Building, Premises and/or the Additional Property for Parking shall be at the sole risk of Tenant. 

  
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	 	(b)	 Landlord, at Landlord’s expense, shall defend, indemnify and hold harmless Tenant and Tenant’s
agents, employees, invitees, licensees and contractors from and against any cost, claim, action, liability or damage of any kind arising from any negligent, tortious or illegal act or omission of Landlord, its agents, employees, invitees, licensees
and contractors. Landlord shall not be liable to Tenant or any other person or entity for any damages arising from any act or omission of any other tenant of the Property. The obligations of Landlord under this paragraph shall survive the expiration
or termination of this Lease. Nothing in this paragraph shall relieve Tenant from, or require Landlord to indemnify Tenant against, liability for damages to property or injury to person caused by the negligence or willful misconduct of Tenant or its
agents, employees or contractors. 

  

	7.5	 TENANT’S INSURANCE 

Tenant shall maintain, at its sole expense, in responsible companies qualified to do business, and in good standing and otherwise acceptable to
Landlord, the following insurance: (i) comprehensive general liability insurance covering the Property, Premises and Additional Property for Parking insuring Landlord as well as Tenant with limits which shall, at the commencement of the Term,
be at least $2,000,000 and from time to time during the Term shall be for such higher limits, if any, as are customarily carried in the area in which the Premises are located with respect to similar properties, (ii) workers’ compensation
insurance with statutory limits covering all of Tenant’s employees, (iii) “all-risk” property insurance insuring Tenant’s Property for the full replacement value of such items and
(iv) business interruption insurance. There shall be no deductible for liability policies and a deductible not greater than $5,000 for property insurance policies. Tenant shall deposit promptly with Landlord certificates for such insurance, and
all renewals thereof, bearing the endorsement that the policies will not be canceled until after thirty (30) days’ written notice to Landlord (if commercially available). All policies shall be carried with insurers with a rating of A-IX by Best’s and otherwise acceptable to Landlord. 
  

	7.6	 PAYMENT OF TAXES 

If at any time during the Term, any political subdivision of the state in which the Property is located, or any other governmental authority,
levies or assesses against Landlord a tax or excise on rents or other tax (excluding income tax, franchise and excise taxes owed by Landlord), however described, including but not limited to assessments, charges or fees required to be paid, by way
of substitution for or as a supplement to real estate taxes, or any other tax on rent or profits in substitution for or as a supplement to a tax levied against the Property, Building, Premises or Additional Property for Parking or Landlord’s
personal property, then Tenant will pay to Landlord as Additional Rent its proportionate share based on Tenant’s Percentage of said tax or excise. 

  
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	7.7	 ENVIRONMENTAL ASSURANCES 

 

	 	(a)	 Covenants. 

  

	 	i.	 Tenant shall not cause any Hazardous Materials to be used, generated, stored or disposed of on, under or about,
or transported to or from, the Property, Building, Premises and Additional Property for Parking unless the same is specifically approved in advance by Landlord in writing; provided, however that small quantities of retail, household, and office
chemicals customarily sold over-the-counter to the public without special licensing or permitting requirements or the filing of a material data safety sheet and which
are reasonably necessary to Tenant’s Permitted Uses shall be permitted so long such substances are used and maintained only in such quantities as are reasonably necessary for such Permitted Use of the Premises and the ordinary course of
Tenant’s business therein, strictly in accordance with applicable law and the manufacturers’ instructions therefor. 

  

	 	ii.	 Tenant shall comply with all obligations imposed by Environmental Laws, and all other restrictions and
regulations upon the use, generation, storage or disposal of Hazardous Materials. 

  

	 	iii.	 Tenant shall deliver promptly to Landlord true and complete copies of all notices received by Tenant from any
governmental authority with respect to the use, generation, storage or disposal by Tenant of Hazardous Materials at, to or from the Property, Building, Premises and Additional Property for Parking and shall immediately notify Landlord both by
telephone and in writing of any unauthorized discharge of Hazardous Materials or of any condition that poses an imminent hazard to the Property, Building, Premises and Additional Property for Parking, the public or the environment.

  

	 	iv.	 Tenant shall complete fully, truthfully and promptly any questionnaires sent by Landlord with respect to
Tenant’s use of the Property, Building, Premises and Additional Property for Parking and its use, generation, storage and disposal of Hazardous Materials at, to or from the Premises. 

 

	 	v.	 Tenant shall permit entry onto the Premises and Additional Property for Parking by Landlord or Landlord’s
representatives at any reasonable time to verify and monitor Tenant’s compliance with its covenants set forth in this Paragraph 7.7 and to perform other environmental inspections of the Premises. 

 

	 	vi.	 If Landlord conducts any environmental inspections because it has reason to believe that Tenant’s
activities have or are likely to result in a violation of Environmental Laws or a release of Hazardous Materials on the Property, then Tenant shall pay to Landlord, as additional rent, the costs incurred by Landlord for such inspections.

  
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	 	vii.	 Tenant shall cease immediately upon notice from Landlord any activity which violates or creates a risk of
violation of any Environmental Laws. 

  

	 	viii.	 After notice to and approval by Landlord, Tenant shall, at Tenants cost, promptly remove, clean-up, dispose of or otherwise remediate, in accordance with Environmental Laws and good commercial practice, any Hazardous Materials on, under or about the Property, Building, Premises and Additional Property
for Parking Property resulting from Tenant’s activities. 

  

	 	(b)	 Indemnification. Tenant shall indemnify, defend with counsel acceptable to Landlord and hold Landlord
harmless from and against any claims, damages, costs, liabilities or losses (including, without limitation, any decrease in the value of the Property, Building, Premises and Additional Property for Parking, loss or restriction of any area of the
Property, Building, Premises and Additional Property for Parking, and adverse impact of the marketability of the Property, Building, Premises and Additional Property for Parking) arising out of Tenant’s use, generation, storage or disposal of
Hazardous Materials at, to or from the Property, Building, Premises and Additional Property for Parking. This indemnification of Landlord by Tenant includes, without limitation, costs incurred in connection with any investigation of site conditions
or any cleanup, remedial, removal or restoration work required by any federal, state, or local governmental agency or political Subdivision because of Hazardous Material present in, on, or about the Property, Building, Premises and Additional
Property for Parking or in the soil or ground water on or under the Property, Building, Premises and Additional Property for Parking. 

  

	 	(c)	 Definitions. “Hazardous Materials” as used in this Lease shall have its broadest meaning under
applicable federal, state or local law, rule, regulation or publication relating to public health and/or the environment, including but not limited to the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended; the
federal Hazardous Materials Transportation Act, as amended; and the federal Resource Conservation and Recovery Act, as amended and shall include but not be limited to, materials defined or regulated as “hazardous substances”, “toxic
substances”, “hazardous wastes”, “solid waste”, “special waste”, “universal waste”, “medical waste” “infectious waste”, materials containing asbestos or urea formaldehyde; gasoline and
other petroleum products, flammables, explosives, radon, natural gases, radioactive materials and nuclear wastes and as such substances are defined or regulated in any regulations adopted and publications promulgated pursuant to said laws
(“Environmental Laws”). 

  

	 	(d)	 Survival. The obligations of Tenant in this Paragraph 7.7 shall survive the expiration or termination of
this Lease. 

  

	 	(e)	 Limitation. Notwithstanding anything to the contrary in this Lease, in no event that Tenant be liable
for any pre-existing Hazardous Materials in, on or under the Property, Building, Premises or Additional Property for Parking, nor for any Hazardous Materials released by any third party. Tenant shall have
responsibility only for Hazardous Materials released by Tenant, its agents and invitees. 

  
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	7.8	 AMERICANS WITH DISABILITIES ACT 

To the extent required by applicable law, Tenant shall comply with the Americans with Disabilities Act of 1990 (“ADA”) and the
regulations promulgated thereunder. Tenant hereby expressly assumes all responsibility for compliance with the ADA relating to the Premises and the activities conducted by Tenant within the Premises. Any Alterations to the Premises made by Tenant
for the purpose of complying with the ADA or which otherwise require compliance with the ADA shall be done in accordance with this Lease; provided, that Landlord’s consent to such Alterations shall not constitute either Landlord’s
assumption, in whole or in part, of Tenant’s responsibility for compliance with the ADA, or representation or confirmation by Landlord that such Alterations comply with the provisions of the ADA. 

ARTICLE VIII: DEFAULT 
  

	8.1	 DEFAULT 

The occurrence of any one or more of the following events shall constitute a default hereunder by Tenant: 

 

	 	(a)	 The failure by Tenant to make any payment of Base Rent or Additional Rent or any other payment required
hereunder within five (5) days after written notice thereof from Landlord to Tenant; 

  

	 	(b)	 The failure by Tenant to observe or perform any of the express or implied covenants or provisions of this Lease
to be observed or performed by Tenant, if such failure shall continue for a period of more than thirty (30) days after written notice thereof from Tenant to Landlord specifying Tenant’s default; provided, however, that if the nature of
Tenant’s default is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said thirty (30) day period and diligently prosecutes
such cure to completion; 

  

	 	(c)	 The failure by Tenant or any present or future guarantor of all or any portion of Tenant’s obligations
under this Lease to pay its debts as they become due, or Tenant or any such guarantor becoming insolvent, filing or having filed against it a petition under any chapter of the United States Bankruptcy Code, 11 U.S.C. Paragraph 101 et seq. (or any
similar petition under any insolvency law of any jurisdiction) if such petition is not dismissed within sixty (60) days thereafter, proposing any dissolution, liquidation, composition, financial reorganization or recapitalization with
creditors, making an assignment or trust mortgage for the benefit of creditors, or if a receiver, trustee, custodian or similar agent is appointed or takes possession with respect to any property or business of Tenant or such guarantor; or

  
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	 	(d)	 if the leasehold estate under this Lease or any substantial part of the property or assets of Tenant of this
leasehold is taken by execution, or by other process of law, or is attached or subjected to any involuntary encumbrance if such attachment or other seizure remains undismissed or undischarged for a period of ten business (10) days after the
levy thereof. 

  

	8.2	 REMEDIES OF LANDLORD AND CALCULATION OF DAMAGES 

 

	 	(a)	 Remedies. In the event of any default by Tenant, whether or not the Term shall have begun, in addition
to any other remedies available to Landlord at law or in equity, Landlord may, at its option and without further notice exercise any or all of the following remedies: 

 

	 	i.	 Terminate the Lease and upon notice to Tenant of termination of the Lease all rights of Tenant hereunder shall
thereupon come to an end as fully and completely as if the date such notice is given were the date originally fixed for the expiration of the Term, and Tenant shall then quit and surrender the Premises and its rights to use the Common Areas and
Additional Property for Parking to Landlord and Landlord shall have the right, without judicial process, to re-enter the Premises and Additional Property for Parking to Landlord. No such expiration or
termination of the Lease shall relieve Tenant of its liability and obligations under the Lease. 

  

	 	ii.	 Accelerate the payment of Base Rent and all Additional Rent under this Lease for the remainder of the Term and
terminate the Lease in the same manner, and with the same force and effect, as provided in clause (i) above. 

  

	 	iii.	 Enter the Premises and the Additional Property for Parking and cure any default by Tenant and in so doing,
Landlord may make any payment of money or perform any other act. All sums so paid by Landlord, and all incidental costs and expenses, including reasonable attorneys’ fees, shall be considered additional rent under this Lease and shall be
payable to Landlord immediately upon demand, together with interest from the date of demand to the date of payment at the Default Rate. 

  

	 	(b)	 Calculation of Damages. If this Lease is terminated as provided in Paragraph 8.2(a)(i) above, Tenant,
until the end of the Term, or what would have been such Term in the absence of any such event, shall be liable to Landlord, as damages for Tenant’s default, for the amount of the Base Rent and all Additional Rent and other charges which would
be payable under this lease by Tenant if this Lease were still in effect, less the net proceeds of any reletting of the Premises actually collected by Landlord after deducting all Landlord’s expenses in connection with such reletting,
including, without limitation, all repossession costs, brokerage and management commissions, operating expenses, legal expenses, reasonable attorneys’ fees, alteration costs and expenses of preparation of the Premises for such reletting. Tenant
shall pay such damages to Landlord monthly on the days on which the Base Rent and on the days on which Additional Rent would have been payable as if this Lease were still in effect, and Landlord shall be entitled to recover from Tenant such damages
monthly as the same shall arise. 

  
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 If Base Rent and Additional Rent are accelerated and this Lease is terminated as provided in
Paragraph 8.2(a)(ii) above, Tenant shall be liable to pay to Landlord, in one payment, as damages for Tenant’s default, an amount equal to the total amount of Base Rent and additional rent reserved in this Lease from the date of default to the
date of expiration of the Term, minus such net proceeds of reletting of the Premises that Tenant proves could be collected by Landlord in mitigation, after deducting all Landlord’s expenses in connection with such reletting, including, without
limitation, all repossession costs, brokerage and management commissions, operating expenses, legal expenses, reasonable attorneys’ fees, alteration costs and expenses of preparation of the Premises for such reletting, all discounted at a fixed
annual interest rate equal to the Federal Funds Rate as published in The Wall Street Journal on the date of Landlord’s election to accelerate the rents hereunder. 
  

	 	(c)	 No Limitations. Nothing contained in this Lease shall limit or prejudice the right of Landlord to prove
for and obtain in proceedings for bankruptcy or insolvency by reason of the termination of this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, the
damages are to be provided, whether or not the amount be greater, equal to, or less than the amount of the loss or damages referred to above. 

  

	 	(d)	 Cumulative Remedies. Landlord’s remedies under this Lease are cumulative and not exclusive of any
other remedies to which Landlord may be entitled in case of Tenant’s default or threatened default under this Lease, including, without limitation, the remedies of injunction and specific performance. 

ARTICLE IX: CASUALTY AND EMINENT DOMAIN 
  

	9.1	 CASUALTY 

  

	 	(a)	 Casualty in General. If, during the Term, the Property, Building, Premises or Additional Property for
Parking, are wholly or partially damaged or destroyed by fire or other casualty, and the casualty renders the Property, Building, Premises and Additional Property for Parking totally or partially inaccessible or unusable by Tenant in the ordinary
conduct of Tenant’s business, Landlord and Tenant shall each have the right to terminate this Lease by giving written notice to the other party. 

  

	 	(b)	 Reduction in Base and Additional Rent. In the event of a fire or other casualty which does not result in
a termination of the Lease, Base Rent and Additional Rent shall be proportionately reduced based on the portion of the Property, Building, Premises and/or Additional Property for Parking, rendered unusable during the period of repair or restoration,
and Landlord shall repair or restore the Property, Building, Premises and Additional Property for Parking, to the extent of available proceeds or awards from such casualty. Landlord shall not be required to repair or restore any damage to
Tenant’s Property or any Alterations. 

  
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	 	(c)	 Waiver of Subrogation. Landlord and Tenant shall cause each property insurance policy obtained by each
of them to provide that the insurer waives all right of recovery by way of subrogation against either Landlord or Tenant in connection with any loss or damage covered by such policy. 

 

	9.2	 EMINENT DOMAIN 

 

	 	(a)	 Eminent Domain in General. If the whole of the Property, Building, Premises and Additional Property for
Parking, shall be taken or appropriated under the power of eminent domain or condemnation (a “Taking”) so as to render the balance unusable by Tenant, either Landlord or Tenant may terminate this Lease and the termination date shall be the
date of the Taking, or the date possession is taken by the Taking authority, whichever is earlier. If the whole or any part of the Property, Building, Premises or Additional Property for Parking, is the subject of a Taking and such Taking materially
affects the normal operation of Tenants use of the Property, Building, Premises and Additional Property for Parking, either Landlord or Tenant may elect to terminate this Lease. A sale by Landlord under threat of a Taking shall constitute a Taking
for the purpose of this Paragraph 9.2. No award for any partial or entire Taking shall be apportioned. Landlord shall receive (subject to the rights of Landlord’s mortgagees) and Tenant hereby assigns to Landlord any award which may be made and
any other proceeds in connection with such Taking, together with all rights of Tenant to such award or proceeds, including, without limitation, any award or compensation for the value of all or any part of the leasehold estate; provided that nothing
contained in this Paragraph 9.2(a) shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any separate award made to Tenant for (i) the taking of Tenant’s Property, or (ii) interruption of or
damage to Tenant’s business, or (iii) Tenant’s moving and relocation costs. 

  

	 	(b)	 Reduction in Base and Additional Rent. In the event of a Taking which does not result in a termination
of the Lease, Base Rent and Additional Rent shall be proportionately reduced based on the portion of the Property, Building, Premises and/or Additional Property for Parking, rendered unusable, and Landlord shall restore the Property, Building,
Premises and Additional Property for Parking, to the extent of available proceeds or awards from such Taking. Landlord shall not be required to repair or restore any damage to Tenant’s Property or any Alterations. 

 

	 	(c)	 Sole Remedies. This Paragraph 9.2 sets forth Tenant’s and Landlord’s sole remedies for Taking.
Upon termination of this Lease pursuant to this Paragraph 9.2, Tenant and Landlord hereby agree to release each other from any and all obligations and liabilities with respect to this Lease except such obligations and liabilities which arise or
accrue prior to such termination. 

  
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 ARTICLE X: RIGHTS OF PARTIES HOLDING SENIOR INTERESTS 

 

	10.1	 SUBORDINATION 

This Lease shall be subject and subordinate to any and all mortgages, deeds of trust and other instruments in the nature of a mortgage, ground
lease or other matters of record (“Senior Interests”) which now or at any time hereafter encumber the Property and Tenant shall, within twenty (20) days of Landlord’s request, execute and deliver to Landlord such recordable
written instruments as shall be necessary to show the subordination of this Lease to such Senior Interests. Notwithstanding the foregoing, if any holder of a Senior Interest succeeds to the interest of Landlord under this Lease, then, at the option
of such holder, this Lease shall continue in full force and effect and Tenant shall attorn to such holder and recognize such holder as its landlord as long as such holder agrees to assume its obligations under this Lease. In the event of attornment,
no such holder of a Senior Interest or successor thereto shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord (prior to such party becoming Landlord under such
attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such party, or (iii) bound by any future modification of this Lease not consented to by such party. Notwithstanding the foregoing,
Landlord shall make good faith commercially reasonable efforts to obtain a subordination, non-disturbance and attornment agreement from its sole current lender First Bank on such lender’s current
commercially reasonable form. 
 ARTICLE XI: GENERAL 
  

	11.1	 AUTHORITY 

Each of Landlord and Tenant represents and warrants that those persons executing this Lease on such party’s behalf are duly authorized to
execute and deliver this Lease on its behalf, and that this Lease is binding upon such party in accordance with its terms, and simultaneously with the execution of this Lease, Tenant shall deliver evidence of such authority to Landlord in form
satisfactory to Landlord, if so requested. 
  

	11.2	 NOTICES 

Any notice required or permitted hereunder shall be in writing. Notices shall be addressed to Landlord c/o Manager at Manager’s Address
and to Tenant at Tenant’s Address. Any communication so addressed shall be deemed duly given when delivered by hand, one day after being sent by Federal Express (or other guaranteed one day delivery service) or three days after being sent by
registered or certified mail, return receipt requested. Either party may change its address by giving notice to the other. 
  

	11.3	 NO WAIVER OR ORAL MODIFICATION 

No provision of this Lease shall be deemed waived by Landlord or Tenant except by a signed written waiver. No consent to any act or waiver of
any breach or default, express or implied, by Landlord or Tenant, shall be construed as a consent to any other act or waiver of any other breach or default. 

  
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	11.4	 SEVERABILITY 

If any provision of this Lease, or the application thereof in any circumstances, shall to any extent be invalid or unenforceable, the remainder
of this Lease shall not be affected thereby, and each provision hereof shall be valid and enforceable to the fullest extent permitted by law. 
  

	11.5	 REQUESTS BY TENANT 

Tenant shall pay, on demand, all reasonable costs incurred by Landlord, including without limitation reasonable attorneys’ fees, in
connection with any matter requiring Landlord’s review or consent or any other requests made by Tenant under this Lease, regardless of whether such request is granted by Landlord. 

 

	11.6	 ESTOPPEL CERTIFICATE 

Within fifteen (15) days after written request by Landlord, Tenant shall execute, acknowledge and deliver to Landlord a written statement
certifying (i) that this Lease is unmodified and in full force and effect, or is in full force and effect as modified and stating the modifications; (ii) the amount of Base Rent currently payable by Tenant to Landlord;
(iii) Tenant’s Additional Rent currently payable by Tenant to Landlord; (iv) the date to which Base Rent and Additional Rent have been paid in advance; (v) the amount of any security deposited with Landlord; (vi) that
Landlord is not in default hereunder or, if Landlord is claimed to be in default, stating the nature of any claimed default, and (vii) such other matters as may be reasonably requested by Landlord. Any such statement may be relied upon by a
purchaser, assignee or lender. Tenant’s failure to execute and deliver such statement within the time required shall be conclusive upon Tenant that this Lease is in full force and effect and has not been modified except as represented by
Landlord; and there are no uncured defaults in Landlord’s performance and Tenant has no right of offset, counterclaim or deduction against rent. 
  

	11.7	 WAIVER OF LIABILITY 

Landlord and Tenant each hereby waive all rights of recovery against the other and against the officers, employees, agents, and representatives
of the other, on account of loss by or damage to the waiving party or its property or the property of others under its control, to the extent that such loss or damage is insured against under any insurance policy that either may have in force at the
time of the loss or damage. Each party shall notify its insurers that the foregoing waiver is contained in this Lease. 
  

	11.8	 EXECTION, PRIOR AGREEMENTS AND NO REPRESENTATIONS 

This Lease shall not be binding and enforceable until executed by authorized representatives of Landlord and Tenant. This Lease contains all of
the agreements of the parties with respect to the subject matter hereof and supersedes all prior dealings, whether written or oral, between them with respect to such subject matter. 

  
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	11.9	 BROKERS 

Landlord recognizes Jones Land LaSalle as Broker for the Tenant and Broker shall be paid a market commission by Landlord under terms and
conditions to be established by separate agreement between Broker and Landlord. 
  

	11.10	 SUCCESSORS AND ASSIGNS 

Without limiting the provisions of Section 7.3, this Lease shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns; provided, however, that only the original Landlord named herein shall be liable for Landlord’s obligations under this Lease, if any, accruing before the beginning of the Term, and thereafter the original
Landlord named herein and each successive owner of the Premises shall be liable only for obligations accruing during the period of their respective ownership. 
  

	11.11	 APPLICABLE LAW AND LEASE INTERPRETATION 

This Lease shall be construed, governed and enforced according to the laws of Tennessee. In construing this Lease, paragraph headings are for
convenience only and shall be disregarded. Any recitals herein or exhibits attached hereto are hereby incorporated into this Lease by this reference. Time is of the essence of this Lease and every provision contained herein. The parties acknowledge
that this Lease was freely negotiated by both parties, each of whom was represented by counsel; accordingly, this Lease shall be construed according to the fair meaning of its terms, and not against either party. If one or more persons or parties
constitute Tenant, the obligations of such persons or parties hereunder shall be joint and several. 
  

	11.12	 COSTS OF COLLECTION, ENFORCEMENT AND DISPUTES 

Tenant shall pay all costs of collection, including reasonable attorneys’ fees, incurred by Landlord in connection with any default by
Tenant. If either Landlord or Tenant institutes any action to enforce the provisions of this Lease or to seek a declaration of rights hereunder, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and court costs as
part of any award. Landlord and Tenant hereby waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereto against the other, on or in respect to any matter whatsoever arising out of or in any way connected
with this Lease, the relationship of Landlord and Tenant hereunder, Tenant’s use or occupancy of the Property, Building, Premises and Additional Property for Parking, and/or claim of injury or damage. 

 

	11.13	 HOLDOVER 

In the event of holding over by Tenant after expiration or termination of this Lease without the written consent of Landlord, Tenant shall pay
Base Rent in an amount equal to one hundred and fifty percent (150%) of the Base Rent in effect on the last month of the initial Term or One Year Extension or Two Month Extension as applicable together with one hundred percent (100%) of all
Additional Rent. No holding over by Tenant after the term of this Lease shall be construed to extend this Lease, and, in such event, Tenant shall be 

  
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deemed a tenant at will, terminable on thirty (30) days’ notice from Landlord. Tenant shall not be liable for consequential damages sustained by Landlord on account of such holding over
provided such Holdover does not continue for a period of more than sixty (60) days after the expiration of the Term, One Year Extension or Two Month Extension as applicable. 

 

	11.14	 FORCE MAJEURE 

If Landlord or Tenant is prevented from or delayed in performing any act required of it hereunder, and such prevention or delay is caused by
strikes, labor disputes, inability to obtain labor, materials, or equipment, inclement weather, acts of God, governmental restrictions, regulations, or controls, judicial orders, enemy or hostile government actions, civil commotion, fire or other
casualty, or other causes beyond such party’s reasonable control (“Force Majeure”), the performance of such act shall be excused for a period equal to the period of prevention or delay. A party’s financial inability to perform
its obligations shall in no event constitute Force Majeure. Nothing in this Paragraph 11.14 shall excuse or delay Tenant’s obligation to pay any rent or other charges due under this Lease. 

 

	11.15	 LIMITATION ON LIABILITY 

Landlord shall not be liable to Tenant for any damage to or loss of personal property in, or to any personal injury occurring in, the Premises,
unless such damage, loss or injury is the result of the gross negligence or willful misconduct of Landlord or Landlord’s employees or agents. The obligations and liability of Landlord arising from or in connection with this Lease, or any
amendment to this Lease or any instrument or document executed in connection herewith do not constitute personal obligations or liabilities of the individual partners, members, managers, directors, officers, shareholders, trustees or beneficiaries
of Landlord, and Tenant shall not seek or have any recourse against the partners, members, managers, directors, officers, shareholders, trustees or beneficiaries of Landlord, or any of their personal assets for satisfaction of any liability with
respect to this Lease, or any amendment to this Lease or any instrument or document executed in connection herewith. In the event of any default by Landlord under this Lease, Tenant’s sole and exclusive remedy and recourse shall be against
Landlord’s interest in the Property, Building, Premises and Additional Property for Parking and not against any other assets of Landlord. In no event shall Landlord be responsible for consequential damages. Assets of a Landlord which is a
partnership or limited liability company do not include the assets of the partners or members of such Landlord, and the negative capital account of a partner or member and an obligation of a partner or member to contribute capital to the partnership
or limited liability company which constitutes Landlord shall not be deemed to be assets of the partnership or limited liability company which is Landlord. 
  

	11.16	 NOTICE OF LANDLORD’S DEFAULT 

The failure by Landlord to observe or perform any of the express or implied covenants or provisions of this Lease to be observed or performed
by Landlord shall not constitute a default by Landlord unless such failure shall continue for a period of more than thirty (30) days after written notice thereof from Tenant to Landlord specifying Landlord’s default;

  
 24 

 
provided, however, that if the nature of Landlord’s default is such that more than thirty (30) days are reasonably required for its cure, then Landlord shall not be deemed to be in
default if Landlord commences such cure within said thirty (30) day period and diligently prosecutes such cure to completion. Tenant shall, simultaneously with delivery to Landlord, provide written notice specifying the Landlord default to the
holder of any first mortgage or deed of trust covering the Premises whose name and address have been furnished to Tenant in writing. 
  

	11.17	 LEASE NOT TO BE RECORDED 

Tenant agrees that it will not record this Lease. If required by applicable statute, each party shall, upon the request of the other, execute
and deliver a notice or short form of this Lease in such form, if any, as may be permitted by applicable statute. If this Lease is terminated before the Term expires the parties shall execute, deliver and record an instrument acknowledging such fact
and the actual date of termination of this Lease, and Tenant hereby appoints Landlord its attorney-in-fact, coupled with an interest, with full power of substitution to
execute such instrument. 
  

	11.18	 SECURITY DEPOSIT 

Intentionally Omitted 

SIGNATURE PAGE IMMEDIATELY FOLLOWS 

  
 25 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease, which includes the Major Lease Terms,
Standard Lease Provisions and Exhibits attached to this Lease, with the intent that each of the parties shall be legally bound thereby. 
  

			
	TENANT: Eargo, Inc., a Delaware Corporation

 
			
		
	By: 	 	/s/ William H. Brownie

 
			
	Name:	 	William H. Brownie
	Title:	 	CCOO & CFO
	 Date:
	 	9/10/18
	
	 LANDLORD: SEV 8th and Division, a Tennessee Limited Liability
Company

 
			
		
	 By: 
	 	/s/ Cameron W. Sorenson

 
			
	 Name:
	 	Cameron W. Sorenson
	 Title:
	 	Manager
	Date:	 	9/11/18

  
 26EX-10.12

 Exhibit 10.12 

STANDARD OFFICE BUILDING LEASE 

THIS LEASE is made and entered into this 27 day of April, 2018, by and between LAGOS PROPERTIES, LLC, a Missouri limited liability company
(“Landlord”) and EARGO, INC., a Delaware corporation (“Tenant”). 
 WITNESSETH: 

1. BASIC LEASE PROVISIONS. For purposes of this Lease, the following terms and definitions shall be applicable: 

 

					
	(a)	 	 Landlord:
	  	Lagos Properties, LLC, a Missouri limited liability company
			
	(b)	 	 Tenant:
	  	Eargo, Inc., a Delaware corporation
			
	(c)	 	 Property:
	  	Minnetonka Plaza, 10201 Wayzata Blvd., Minnetonka, Minnesota 55305
			
	(d)	 	 Premises:

[Section 2]
	  	Suite 135, containing approximately 2,087 rentable square feet of space, as more fully depicted on Exhibit “A”, attached hereto and made a part hereof.
			
	(e)	 	 Term:

[Section 3]
	  	39 months (three years and six months)
			
	(f)	 	 Commencement Date:

[Section 3]
	  	Earlier of May 15, 2018 or opening.
			
	(g)	 	 Expiration Date:

[Section 3]
	  	July 31, 2021
			
	(h)    	 	 Base Rent:

[Section 4(a)]
	  	

 BASE RENT SCHEDULE 
  

									
	 PERIOD
	  	MONTHLY
BASE RENT	 	  	ANNUAL
BASE RENT	 
	 5/1/2018 – 7/31/2018
	  	$	0.00	 	  	 	N/A	 
	 8/1/2018 – 7/31/2019
	  	$	1,562.50	 	  	$	18,750.00	 
	 8/1/2019 – 7/31/2020
	  	$	2,239.18	 	  	$	26,870.13	 
	 8/1/2020 – 7/31/2021
	  	$	2,260.92	 	  	$	27,131.00	 

  

					
			
	(i)    	 	 Tenants Proportionate Share:

[Section 4(b)]
	  	Based on Total Rentable Square Footage. It is Tenant’s understanding that they will be Billed at the rate of $9.67 per square foot for calendar year 2018 commencing 8/1/2018. (2,087 Sq. Ft.) 5.82% for the period of 8/1/2019
– 7/31/2021

 
					
	(j)    	 	 Reserved.
	  	
			
	(k)	 	 Landlord’s Address for Rent Payments: 

[Section 22]
	  	 Lagos Properties, LLC

Attn: Manager

275 North Lindbergh, Suite LL

St. Louis, Missouri 63141

			
	(l)	 	 Landlord’s Address for Notices:

[Section 22]
	  	 Lagos Properties, LLC

Attn: Manager

275 North Lindbergh

St. Louis, Missouri 63141

			
	(m)	 	 Tenant’s Notice Address:

[Section 22]
	  	 Eargo, Inc.

295 Bernardo Avenue

Suite 100

Mountain View, CA 94043

			
	(o)	 	 Security Deposit:

[Section 24]
	  	 $2,500.00

			
	(p)	 	 Landlord’s Broker:

[Section 29]
	  	 Avison Young (representing Landlord only)

			
	(q)	 	 Tenant’s Broker: 

[Section 29]
	  	 Equity Property (representing Tenant only, and not as a subagent of Landlord)

			
	(r)	 	 Exhibits:
	  	 Additional Provisions

Exhibit “A”: Floor Plan

Exhibit “B”: Rules and Regulations

 2. PREMISES. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the
Premises described in Section 1 (d). In addition, Landlord grants to Tenant the non-exclusive use of all common areas designated by Landlord from time to time in and about the Property. All common areas
shall be subject to the exclusive control and management of Landlord, and Landlord shall have the right, at any time, and from time to time, to change the size, location, elevation, and/or nature of the common areas. Landlord also reserves the
right, from time to time, to close portions of the common areas or utilize the same for Landlord’s purposes. Tenant acknowledges that the square footages of the Premises and the Property are only approximate, and Landlord and Tenant agree that,
notwithstanding the actual square footage of the Premises and the Property, Tenant’s Proportionate Share, as described in Section 1(i), shall be deemed correct for all matters of this Lease including but not limited to the calculation of
Base Rent, Additional Rent, Security Deposit and any construction allowances. Tenant shall use and occupy the Premises for general office purposes and for no other use. 

Tenant has inspected the Premises and accepts the same in its present “AS IS” condition, acknowledging that the Premises are in good
order and satisfactory condition and suitable for the purposes for which they are leased. Tenant further acknowledges that, except as otherwise set forth in this Lease, Landlord has made no representations to Tenant with respect to any alterations,
repairs or improvements to be constructed within the Premises, 

  
 2 

 3. TERM. The Term of this Lease shall be for the period designated in
Section 1 (e), commencing on the date set forth in Section 1(f), and expiring on the date set forth in Section 1(g), both inclusive. Notwithstanding the aforesaid, in the event Landlord is delayed in delivering the Premises to Tenant
for any reason including but not limited to, labor strikes, casualty, legal actions, suits or injunctions, conditions of the elements, the completion of any construction agreed to be performed within the Premises by Landlord, or the inability to
secure the Premises or any materials, Landlord shall deliver the Premises to Tenant as soon thereafter as possible. In the event of any such delay, Landlord shall not be liable to Tenant, nor shall the validity of this Lease be impaired, but the
Commencement Date shall be postponed a number of days equal to such delay, and the Expiration Date shall be extended a like number of days to reflect the term of this Lease, plus an additional number of days through the end of the then current
month. However, in the event any such delay is due to Tenant’s negligence or any reason within Tenant’s control including, without limitation, Tenant’s selection of materials, or any requested changes, modifications or additions to
any construction agreed to be performed within the Premises by Landlord, the obligations set forth in this Lease shall nevertheless commence on the date Landlord would otherwise have delivered the Premises to Tenant were it not for Tenant’s
delay. 
 If this Lease commences on any date other than the Commencement Date set forth in Section 1(f), Tenant shall execute
Landlord’s separate written memorandum, setting forth the actual Commencement Date, the Expiration Date, the date when all Rent shall commence, and any other information reasonably requested by Landlord. Landlord reserves the right to withhold
delivery of the Premises to Tenant until such memorandum has been executed and returned to Landlord; however, the withholding of delivery of the Premises shall in no way relieve Tenant of its obligations under this Lease. 

Provided this Lease is in full force and effect and Tenant is not in Default hereunder, Tenant shall have a
one-time right and option to terminate this Lease effective on the last day of the 12th full calendar month of the Term or the last day of the 24th full calendar month of the Term (such date being the
“Termination Date”), upon the following terms and conditions. In order to exercise such option, Tenant must give Landlord written notice at least six (6) months prior to the Termination Date, which notice shall specify the
Termination Date. Should Tenant terminate said Lease pursuant to this Section, then prior to vacating the Premises, Tenant shall perform such repairs and make such restorations as Landlord reasonably determines to return the Premises to Landlord in
substantially the same condition as when received, reasonable wear and tear excepted. Should Tenant exercise its option to terminate this Lease, Landlord shall have the right to enter upon the Premises, from and after receipt of Tenant’s
notice, for the purpose of showing the Premises to prospective third party tenants. In the event Tenant elects to terminate said Lease as aforesaid, Tenant shall pay to Landlord (in addition to all other sums due under this Lease through the
Termination Date) a sum equal to the Monthly Base Rent due for the month in which the Termination Date occurs on or prior to the Termination Date. 

4. RENT. Tenant shall pay to Landlord or to Landlord’s designated agent the Base Rent and Additional Rent (collectively,
“Rent”) which accrues or becomes due during the Term, in advance, on the first day of each calendar month, or as otherwise set forth in this Lease, without demand, setoff or deduction, at the office of Landlord. In the event any
Rent or other charge is payable for a partial calendar month or year, such amount shall be prorated to reflect only that portion of the Term within such month or year. All accrued unpaid amounts shall survive the Term. 

  
 3 

 (a) Base Rent. Tenant shall pay to Landlord annual Base Rent pursuant to the Base
Rent Schedule set forth in Section 1(h). The first monthly installment of Base Rent shall be payable to Landlord simultaneously with Tenant’s execution and delivery of this Lease to Landlord. All subsequent monthly installments of
Base Rent shall be payable on the first day of each month as and when the same become due. 
 (b) Additional Rent. Tenant
shall pay to Landlord, as Additional Rent, an amount equal to Tenant’s Proportionate Share of (i) Taxes (as such term is hereinafter defined) payable by Landlord during the Term, plus (it) Operating Expenses (as such term is hereinafter
defined) payable by Landlord during the Term. 
 Taxes. (as such term is hereby defined) shall include, without limitation, any tax,
assessment, license, fee, or governmental charge, general or special, ordinary or extraordinary, now or hereafter assessed, levied, or imposed against any legal or equitable interest in the Property or any part thereof, or against Landlord’s
receipt of rent, or against any of Landlord’s personal property used in the operation and/or maintenance of the Property Taxes shall not include any franchise taxes or any taxes imposed upon or measured by Landlord’s income or profits.
However, Taxes as defined herein are predicated on the present system of taxation in the State of Minnesota; and, therefore, if due to a future change in the method of taxation any rent, franchise, use, profit or other tax shall be levied or imposed
against Landlord or the Property in lieu of any charge which would otherwise constitute a Tax, such rent, franchise, use, profit or other tax shall be deemed to be a Tax for the purposes herein. In the event Landlord is assessed with a Tax which
Landlord in its sole discretion deems excessive, Landlord may challenge said Tax or may defer compliance therewith to the extent legally permitted; and, in the event thereof, Tenant shall be liable for Tenant’s Proportionate Share of all costs
in connection with such challenge or deferment, including any costs incurred by Landlord prior to the term of this Lease, to the extent that such costs relate to any Tax savings which may be realized during the Term. No costs incurred by Landlord in
connection with any Tax challenge shall be included or applicable with respect to the initial determination of the amount of Taxes for the Base Year; and Tenant shall be liable for Tenant’s Proportionate Share of the full amount of the costs of
any Tax challenge in both the Base Year and in all subsequent calendar years during the term of this Lease. 
 Operating Expenses.
(as such term is hereby defined) shall include all costs and expenses and reasonable reserves, determined in accordance with generally accepted accounting principles, consistently applied, and incurred by Landlord in connection with the ownership,
operation and maintenance of the Property including without limitation: all materials, equipment and supplies, together with all service, maintenance, and labor agreements, relative to the maintenance, repair and replacement, as necessary, of the
Premises and the common areas of the Property and all electrical, plumbing and mechanical systems therein; all utilities and related expenses and deposits, including costs incurred in connection with any energy management program for the Property;
all landscaping stock, equipment and maintenance agreements; all janitorial services, equipment and supplies; snow removal; fire protection and security (if provided); any private trustee or indenture charges; maintenance, repair and replacement, as
necessary, of the sprinkler systems, downspouts, gutters and nonstructural portions of the roof; the paving, resealing and/or re-striping of all parking facilities, access roads, driveways, sidewalks and
passageways; heating, ventilation and air conditioning (“HVAC”) of the Property, as well as all maintenance, repairs and any replacements to the HVAC units servicing the Property; all Property signage; all wages/salaries, fees and
commissions and related benefits of all employees and independent 

  
 4 

 
contractors engaged in the operation and management of the Property, together with any applicable social security taxes, employment taxes or other taxes levied against such wages/salaries;
premiums and deductibles for liability, property damage, fire, workers compensation, rent and mortgage insurance, and any other insurance which Landlord deems necessary to carry on, for or in connection with the operation of the Property, or for the
protection of the Property, and the interests of Landlord and Landlord’s agents and mortgagees; management fees; cleaning and vermin extermination; capital improvements which are required by any governmental authority to keep the Property in
compliance with all applicable statutes, codes and regulations; capital improvements which reduce other Operating Expenses, but in an amount not to exceed the reduction of Operating Expenses for the relevant year; the rental and/or amortized costs
of any machinery or equipment used in connection with the operation or maintenance of the Property; and all other expenses incurred by Landlord for or on behalf of the Property. For purposes of establishing the amount of Operating Expenses for the
Base Year, Operating Expense shall not include any unique or extraordinary expenses as reasonably determined by Landlord, such as those caused by any strikes, shortage of materials, utility blackouts, terrorism, or
one-time assessments. Operating Expenses shall not include: any expense chargeable to a capital account or capital improvement (other than aforesaid); ground leases; principal or interest payments on any
mortgage or deed of trust on the Property; any amount for which Landlord is reimbursed through insurance, by third persons, or directly by other tenants of the Property; brokers commissions and other expenses incurred in the leasing of space to
tenants in the Property. 
 In the event the Property is not fully occupied in the initial calendar year or during any subsequent calendar
year during the Term, then those Operating Expenses of the Property which are variable for that year (that is, those Operating Expenses which change depending upon the occupancy level of the Property (such as janitorial costs and usage of
electricity), as distinguished from those Operating Expenses which do not change depending upon the occupancy level of the Property (such as landscaping costs and casualty insurance)), shall be deemed to be increased by an amount reasonably
determined by Landlord to reflect the Operating Expenses which would have been expended had the Property been fully occupied. Similarly, in the event Landlord is not furnishing any particular work or service to a tenant who has undertaken to perform
such work or service in lieu of Landlord, the Operating Expenses shall be deemed to be increased by an amount reasonably determined by Landlord to reflect the Operating Expenses which would have been expended had Landlord performed such work or
service. Nothing contained in this Section 4(b) shall be construed as requiring Landlord to perform any services or make any expenditure with respect to the Premises or the Property unless such obligation is expressly set forth in this Lease.

 Landlord shall have the right to invoice Tenant monthly, quarterly, or otherwise from time to time, for Tenant’s Proportionate Share
of the Taxes and Operating Expenses, as reasonably estimated by Landlord; and Tenant shall pay to Landlord, as Additional Rent, those amounts for which Tenant is invoiced within thirty (30) days after receipt of said invoice. Any monies paid in
advance to Landlord by Tenant shall not accrue interest thereon. After each calendar year, Landlord shall deliver a statement to Tenant setting forth Tenant’s actual obligation for Taxes and Operating Expenses, and the total amount of payments
paid by Tenant to Landlord for such purposes. In the event Tenant’s actual obligation for Taxes and/or Operating Expenses exceeds Tenant’s payments for such respective purposes, Tenant shall pay the applicable difference to Landlord within
thirty (30) days after receipt of Landlord’s statement. Conversely, in the event Tenant’s respective payments toward Taxes and/or Operating Expenses exceed Tenant’s actual obligation for each of the same, Landlord shall

  
 5 

 
either refund the applicable overpayment to Tenant or credit said overpayment against Tenant’s obligation for such specific expense in the forthcoming year. In the event Taxes or Operating
Expenses in any calendar year are less than the respective Taxes and Operating Expenses for the Base Year, Tenant shall not receive a refund or credit against any Tax or Operating Expense obligation in that same or any subsequent calendar year. If
upon the expiration or earlier termination of this Lease there is accrued but unbilled Additional Rent, Tenant’s obligation with respect to any amounts owed to Landlord shall survive; and, at Landlord’s option, Tenant shall either
(i) pay such amounts after the expiration of the Term when such Additional Rent has been accurately determined within fifteen (15) days after receipt of Landlord’s statement, or (ii) pay an amount reasonably estimated by Landlord
prior to the expiration of the Term. 
 Within thirty (30) days after receipt of each year-end
statement, Tenant shall have the right, at Tenant’s sole cost and expense, to inspect and audit Landlord’s records with respect to Tenant’s Proportionate Share of Additional Rent, which audit shall be at the accounting office of
Landlord, upon not less than ten (10) days prior written notice, during Landlord’s normal business hours, subject to execution of a confidentiality agreement acceptable to Landlord, and provided that if Tenant utilizes an independent
accountant to perform such review it shall be one of national standing which is reasonably acceptable to Landlord, is not compensated on a contingency basis and is also subject to such confidentiality agreement. Except as aforesaid, Landlord shall
not be obligated to provide Tenant with detailed summaries or receipts for any expenses incurred by or on behalf of the Property, but Landlord shall provide Tenant with one or more statements setting forth such expenses, categorized by class and
amount. Unless Tenant timely elects to audit such records and asserts specific errors within ninety (90) days after receipt of such year-end statement, said statement shall be deemed to be correct. 

5. INTEREST AND LATE FEES. In the event Tenant should fail to pay to Landlord any Rent or other charge when due, Tenant shall
pay to Landlord (a) interest on the unpaid amount from the due date through the date of payment, in an amount equal to ten percent (10%) per annum; plus (b) a late fee for Landlord’s increased administrative expenses, in an amount
equal to one percent (1%), per month, of the amount owed Landlord. In addition to the aforesaid, in the event any check or payment made by Tenant is not honored or is otherwise returned by Landlord’s bank, Tenant shall pay to Landlord an
additional charge equal to Fifty and 00/100 Dollars ($50.00) for each such returned payment. All interest, late fees and additional charges payable pursuant to this Section shall be paid to Landlord as Additional Rent hereunder; and, at
Landlord’s option, such charges shall be payable by Tenant with certified funds. Tenant acknowledges that Landlord’s actual damages for late payments and returned checks may be difficult or impractical to fix; and therefore, Tenant further
acknowledges that such estimated fees and charges are fair and reasonable liquidated damages. 
 6. SERVICES. Landlord shall
provide the following services during the Term. The cost of all services shall be an Operating Expense of the Property; and are based upon Landlord’s determination of the reasonable common use of such services. In the event Landlord provides
additional services at the request or requirement of Tenant, or at times other than during “normal business hours”, defined as Monday through Friday from 7:00 a.m. to 6:00 p.m., Saturdays from 8:00 a.m. to 12:00 p.m., Sundays and
holidays excepted, Tenant shall pay for such additional services at costs reasonably determined by Landlord, plus a five percent (5%) administrative fee, within fifteen (15) days after receipt of Landlord’s statement. 

  
 6 

 (a) Landlord shall provide electricity to the Promises for building standard lighting. In
addition to such lighting, Landlord shall provide service of electricity through floor and wall outlets, for a reasonable amount of normal office equipment, during normal business hours. In the event Tenant installs lighting in excess of building
standards or in the event the total consumption of electricity through floor and wall outlets for the Premises exceeds the aforesaid allowance, Landlord, at Tenant’s expense, shall make reasonable efforts to supply Tenant’s requested
service through the then-existing feeders and risers servicing the Promises, and Tenant shall pay to Landlord, as Additional Rent, the cost of such additional electric service, plus a ten percent (10%) administrative fee, within fifteen
(15) days after receipt of Landlord’s statement. Landlord shall determine the amount of Tenant’s additional consumption of electricity by any verifiable method, including installation of a separate meter within the Premises,
installed, maintained, and read by Landlord, at Tenant’s expense, or as determined by an independent consulting engineer, engaged by Landlord from time to time at Tenant’s expense. Tenant shall not install any electrical equipment
requiring special wiring or requiring voltage in excess of one hundred twenty (120) volts, or otherwise exceeding building capacity, without Landlord’s prior written consent. In the event Tenant requires excess or additional wiring,
Landlord reserves the right to perform such work, at Tenant’s cost, if in Landlord’s reasonable determination such wiring shall cause damage to the Property, or cause or create a dangerous or hazardous condition, or entail excessive or
unreasonable alterations, repairs or expenses to the Property, or will interfere with or disturb other tenants of the Property. 
 (b)
Landlord shall provide HVAC to the Premises and to the common areas of the Property at temperatures reasonably determined by Landlord for normal occupancy and general office use during normal business hours. In the event Tenant utilizes any machines
or equipment which affect the temperatures otherwise maintained by Landlord’s HVAC system, or in the event Tenant installs any lighting in excess of building standards, Landlord reserves the right to install supplemental air conditioning units
or other supplemental equipment in the Premises, and the cost of installation, operation and maintenance thereof shall be payable by Tenant as Additional Rent. In the event the Premises contain or are serviced by any heating or air conditioning
equipment which is above building standard, Tenant shall accept such equipment in its present “AS IS” condition, acknowledging that all costs in connection with the operation, maintenance, repair and replacement of such equipment shall be
borne and payable by Tenant as Additional Rent. 
 (c) Landlord shall provide drinking water, restroom supplies, elevator service, and
utility service to the common areas of the Property. Landlord shall also provide building standard janitorial service to the Premises on weekdays (other than building holidays), and window washing to the Premises from time to time as reasonably
determined by Landlord. 
 (d) Landlord shall maintain the common areas of the Property in a good and orderly condition including, without
limitation, lawn and shrub care, maintenance of the roof and the structural portions of the Property, and maintenance of all building mechanical, electrical and plumbing equipment servicing the Property, but excluding those items under Tenant’s
exclusive use and control; and those items specifically excepted elsewhere in this Lease. 
 (e) Parking shall be provided on the parking
lots of the Property on an unallocated basis. 
 (f) Tenant shall have the right to designate its telecommunication providers; however,
Landlord reserves the right to designate and/or restrict all third party telecommunication access to and in Landlord’s building as Landlord may reasonably determine from time to time. Tenant shall only utilize existing pathways, shafts,
raceways, conduits, columns, risers, closets and other areas within the Property which Landlord has or may from 

  
 7 

 
time to time designate for the location of telecommunication equipment; and Tenant shall label all cabling, wiring and other telecommunications equipment placed by Tenant within the Property in a
manner reasonably determined by Landlord. In the event any of Tenant’s telecommunication equipment causes or requires Landlord to perform any alterations or modifications to the Property to accommodate Tenant, Tenant shall be liable for the
costs thereof. No telecommunications equipment, transmissions or receptions of Tenant shall interfere with the telecommunications equipment, transmissions or receptions of Landlord or any other tenant. 

(g) Landlord shall use good faith efforts to provide the aforesaid services, but in no event shall Landlord be liable for damages, nor shall
the Rent be reduced or abated, due to any failure to furnish, or any delay in furnishing, any services which are caused by Landlord’s inability to secure electricity, fuel, supplies, machinery, equipment or labor, or which are caused by
necessary repairs or improvements, or any other reason; nor shall the temporary failure to furnish any such services, or any inconvenience suffered by Tenant as a result of Landlord’s maintenance or repairs, be construed as a constructive
eviction of Tenant, or relieve Tenant from the duty of observing and performing the obligations of Tenant under this Lease. 

7. LANDLORD’S RIGHTS. (a) Landlord may close the Property, or portions thereof, in emergency situations exclusively
determined by Landlord, during periods of general construction, and at all times other than during normal business hours, during which times admittance may be gained only under such regulations as may be prescribed by Landlord. Landlord may also
temporarily reduce or suspend certain building services from time to time for, among other purposes, the proper maintenance and repair of the Property. 

(b) Landlord may designate all sources of all services used in the common areas of the Property; and Landlord may designate the source and
grade of all materials and all personnel for all construction, repairs and maintenance which Landlord is obligated to perform under this Lease, whether the same is within the Premises or about the Property. Landlord reserves the right to designate,
from time to time, for both the Premises and the Property, all utilities used by Landlord and/or Tenant including, without limitation, all gas, electric, water and sewer service. Tenant shall allow Landlord and all of Landlord’s assignees,
invitees, licensees, contractors and utility providers reasonable access in and through the Premises for the benefit of Landlord, Tenant and/or any other tenants of the Property to perform such installations, maintenance, repairs or replacements as
Landlord may determine. To this end, Landlord retains such license or easement in and through the Premises as shall be reasonably required by Landlord. 

(c) Landlord may comply with voluntary controls or guidelines promulgated by any governmental entity relating to the use or conservation of
energy, water, gas, light or electricity. 
 (d) Landlord may make alterations, repairs, additions, and improvements to the Property or any
part thereof, including the installation and maintenance of pipes, ducts, conduits, wires and structural elements within the Premises to service the Property or other tenants of the Property. 

(e) Landlord may have pass keys to the Premises and all portions thereof; however, except as specifically set forth in this Lease, Landlord
assumes no obligation to enter the Premises or to make any inspections thereof. 

  
 8 

 (f) Landlord may change the name or street address of the Property; install, affix and
maintain one or more signs within or about the Property; and grant to any third party tenant the exclusive right to conduct any particular business or undertaking within the Property, 

(g) Landlord may take such reasonable measures as Landlord deems advisable for the security of the Property and its occupants. Notwithstanding
the aforesaid, Landlord shall not be liable to Tenant, or to anyone claiming under Tenant, for any breach of any security within the Property. 

(h) Landlord may re-enter the Premises or may repair or otherwise prepare the Premises for re-occupancy (without affecting Tenant’s obligation to pay Rent) during the last one hundred eighty (180) days of the Term, if prior to that time Tenant has vacated the Premises. 

(i) In the event Tenant requests Landlord to take any action or give any consent required or permitted under this Lease, Tenant shall
reimburse Landlord for Landlord’s reasonable costs incurred in reviewing the proposed action or consent including, without limitation, reasonable attorneys’, engineers’ or architects’ fees. Tenant shall reimburse Landlord for
such costs within fifteen (15) days after receipt of Landlord’s statement; and Tenant acknowledges that Tenant shall be obligated to make such reimbursement regardless of whether or not Landlord ultimately takes such action or grants such
consent. 
 (j) Landlord has established certain Rules and Regulations with respect to the Property, as more fully set forth on
Exhibit “B,” attached hereto and made a part hereof. Landlord reserves the right to establish additional Rules and Regulations, or make amendments thereto, from time to time, if in Landlord’s
reasonable determination the same is necessary for the orderly operation or protection of the Property and/or for the general safety of the tenants. The non-compliance of any of such Rules and Regulations by
Tenant shall constitute a Default under this Lease. 
 8. REPAIRS AND MAINTENANCE. Landlord does not warrant either expressly
or impliedly the condition or fitness of the Premises except as specifically set forth herein. Landlord shall maintain, repair and replace, if necessary, the structural portions of the roof and the exterior walls of the Premises, as well as all
common areas of the Property and all building standard electrical, mechanical and plumbing systems servicing the Premises, as more fully set forth herein; however, the costs and expenses thereof shall be subject to recapture as an Operating Expense
pursuant to Section 4(b). Notwithstanding the aforesaid, in the event any such maintenance or repairs are caused by the negligence of Tenant or Tenant’s employees, agents, invitees or contractors, Tenant shall reimburse to Landlord, as
Additional Rent, the cost of all such maintenance and repairs within fifteen (15) days after receipt of Landlord’s statement. Tenant shall have the affirmative duty to periodically inspect the Premises, and to notify Landlord of the need
for any repairs which are the obligation of Landlord hereunder. Upon receipt of Tenant’s notice, Landlord shall have a reasonable period of time to make such repairs or maintenance; however, it is expressly understood and agreed that Landlord
shall not be liable for any property damage sustained by Tenant, or anyone claiming under Tenant, due to Landlord’s inability, delay or negligence in making such repairs, and Landlord’s liability with respect to such repairs or maintenance
shall be limited to the cost of such repairs or maintenance. 

  
 9 

 Tenant, at Tenant’s sole cost and expense, shall clean, maintain, preserve, repair and
replace, as necessary, all portions of the Premises which are not expressly the responsibility of Landlord including, but not limited to, all wall coverings, floor coverings, window treatments and any other interior finish installed by or for the
benefit of Tenant; all electrical, mechanical and plumbing systems and fixtures servicing the Premises which are custom or above building standard; all signs, locks, alarms, security devices, telecommunications equipment, doors, hardware, all plate
and other glass, and all of Tenant’s personal property and fixtures (including any interior finish constructed by Landlord or Tenant within the Premises). In the event Tenant should fail to perform any maintenance or repairs required of Tenant
under this Lease in a prompt and good workmanlike manner after Landlord’s written demand, Landlord shall have the right, but not the obligation, to perform such maintenance and repairs, whereupon Tenant shall pay to Landlord, as Additional
Rent, all such maintenance and repair costs, plus ten percent (10%), within fifteen (15) days after receipt of Landlord’s statement. 

All maintenance, repair, and replacement obligations of Tenant under this Section shall be deemed improvements to the Premises and shall
be performed by Tenant pursuant to and in accordance with the terms and conditions under Section 9 of this Lease. All materials utilized by Tenant in any maintenance, repairs, construction or replacements under this Lease shall be pre-approved by Landlord, meet minimum municipal code requirements, and be of a quality at least as good as the quality of the materials in place within the Premises, as reasonably determined by Landlord
(“Approved Materials”). AH contractors performing any construction, services or other work within the Premises for or on behalf of Tenant shall be pre-approved by Landlord
(“Approved Contractors”). Landlord’s approval may include, without limitation, the use of union tradesmen and laborers; and in all events, as a prerequisite of any approval, Tenant shall provide Landlord with
certificates of insurance of all contractors in a form and content, and with such companies as Landlord may reasonably approve, naming both Landlord and Landlord’s managing agent (if any) as additional insureds. 

9. ALTERATIONS AND IMPROVEMENTS. Tenant shall not make any alterations, additions or improvements to the Premises or Property
without the prior written consent of Landlord; nor shall Tenant, or any telecommunications companies on behalf of Tenant, install any telecommunications systems within the Property without the prior written consent of Landlord. All construction and
other work pre-approved by Landlord and performed by or on behalf of Tenant shall be with Approved Materials and Approved Contractors; and all construction shall be completed in a good and workmanlike manner
and in compliance with all Laws, as well as all requirements of Landlord’s insurance carrier. Prior to installing any trade fixtures, or making any alterations, additions or improvements to the Premises, Tenant shall notify Landlord in writing
of the same and provide to Landlord such plans and specifications for such work as Landlord may reasonably request, together with a detailed work schedule and list of contractors, subcontractors and materialmen. It is expressly understood and agreed
that Landlord’s approval of any plans and specifications of any work undertaken by Tenant shall not be a representation by Landlord that the contemplated alterations, additions or improvements comply with any Laws; and Tenant shall remain
wholly liable for compliance with all Laws and indemnify and hold Landlord harmless from any violations thereof. Landlord shall not be liable for or be required to insure any alterations or improvements made to the Premises by or on behalf of
Tenant; and Tenant shall secure all-risk property insurance coverage for all such alterations and improvements pursuant to Section 19. Notwithstanding anything to the contrary in this Lease, Tenant shall
be liable for any damage to the Premises and the Property arising from any alteration or construction undertaken by Tenant. 

  
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 Prior to performing any alterations, additions or improvements to the Premises or Property,
Tenant shall first provide Landlord with certain assurances reasonably satisfactory to Landlord that Tenant is capable of paying for all such materials and work. Such assurances may include, by way of example (a) proof of prepayment of all or
substantially all of such materials and work, based upon actual contractor’s bids; (b) evidence of a construction or other loan from a bank or other lender in the full amount of the cost of Tenant’s proposed improvements which
provides for the disbursement of the loan proceeds pursuant to a disbursing arrangement in accordance with customary industry standards reasonably acceptable to Landlord; or (c) a guaranty by one (1) or more separate persons or entities,
reasonably satisfactory to Landlord, for the full amount of the cost of such work. Landlord reserves the right, but not the obligation, to perform all alterations, improvements or additions required by Tenant; and, in the event Landlord exercises
such right, Tenant shall reimburse Landlord for all of Landlord’s costs within fifteen (15) days after receipt of Landlord’s statement. 

Tenant shall remove all trade fixtures from the Premises prior to the expiration of this Lease, unless Landlord has theretofore consented in
writing to allow such trade fixtures to remain within the Premises. Tenant shall remove all other improvements from the Premises, whether or not installed and/or pre-approved by Landlord, unless Landlord
elects in writing to require such improvements to remain within the Premises. For purposes of this Lease, improvements shall include without limitation, all personal property, construction, and fixtures, and all voice, video, data and other
telecommunications wiring, cabling and equipment (collectively, “Telecommunication Equipment”) installed by or on behalf of Tenant. Notwithstanding the aforesaid, Tenant shall have no duty to remove any construction or fixtures
which were installed by Landlord or Tenant in connection with Tenant’s initial occupancy of the Premises, except with respect to Tenant’s Telecommunication Equipment which Tenant shall remove unless Landlord otherwise specifically elects
in writing. Tenant shall repair any damage caused by any such removal and restore the Premises to a condition substantially similar to the condition of the Premises immediately prior to the installation of such improvements; in the event Tenant
fails to so repair and restore the Premises, Tenant shall be liable for the costs thereof, which liability shall survive the termination of this Lease. 

10. CASUALTY. If the Premises or a substantial portion of the Property is damaged in whole or in part by casualty, and if the
Premises are made untenantable as a result thereof, Landlord shall deliver to Tenant, within sixty (60) days after such casualty, a good faith estimate of the time necessary to repair such damages (“Casualty Notice”). If in
Landlord’s reasonable estimation such damages cannot be substantially repaired within the shorter of two hundred seventy (270) days from the date of such casualty, or within two-thirds (2/3) of the
then remaining Term as of the date of such casualty (“Estimated Restoration Period”), this Lease may be terminated by either Landlord or Tenant by delivering written notice to the other party within thirty
(30) days after Tenant’s receipt of the Casualty Notice, in the event neither party timely terminates this Lease, or if in Landlord’s reasonable estimation such damages can be substantially repaired within the Estimated Restoration
Period then, subject to Landlord’s rights below, this Lease shall remain in full force and effect, and Landlord shall proceed in good faith to repair and restore the Premises to a condition substantially similar to that condition which existed
prior to such casualty. Landlord’s obligation with respect to repair and restoration shall be limited to the extent of the insurance proceeds actually received by Landlord in connection with such casualty and shall only extend to the repair of
Landlord’s building and improvements, and shall not extend to Tenant’s fixtures, equipment, alterations, Telecommunications Equipment, or any interior finish constructed within the Premises by

  
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either Landlord or Tenant, regardless of the cause of such casualty. In the event the repair and restoration of the Premises extends beyond the Estimated Restoration Period, this Lease shall
remain in full force and effect and Landlord shall not be liable therefor, but Landlord shall continue to complete such repairs and restoration with all due diligence. Notwithstanding the aforesaid, if Landlord reasonably determines that repair of
the Premises/Property is or will become uneconomical or that the insurance proceeds (after any required payments to any mortgagees of the Property) will be insufficient to complete all repairs and restoration, then Landlord may terminate this Lease
by giving written notice to Tenant. In the event this Lease is terminated, the parties shall have no further obligations to the other, except for those obligations accrued through the effective date of such termination, which obligations shall
survive the Term. 
 Upon termination of this Lease, Tenant shall immediately surrender possession of the Premises to Landlord. Tenant shall
not be required to pay any Base Rent for any period in which the Premises are wholly untenantable; and, in the event only a portion of the Premises are untenantable, Tenant’s Base Rent shall be equitably abated in proportion to that portion of
the Premises which are so unfit for such period of time as the Premises (or such portion) remains untenantable. There shall be no Rent abatement if the damages are due to the fault or negligence of Tenant or Tenant’s agents, employees,
licensees, invitees or contractors. 
 11. INSPECTION. Landlord and its agents shall have the right to enter and inspect the
Premises from time to time, for the purpose of ascertaining the condition thereof, or to show the Premises to existing or prospective fee owners or third party tenants, ground lessors, mortgagees, Landlord’s insurance carriers and by request of
any governmental agency, or in order to make such repairs as may be required or permitted to be made by Landlord under the terms of this Lease; and, to this end, Landlord retains such license or easement in and through the Premises as may be
reasonably required by Landlord. In addition thereto, during the last twelve (12) months of the Term, Landlord shall have the right to enter upon the Premises to erect one or more signs indicating that the Premises are available for lease. 

12. SUBLETTING AND ASSIGNING. Tenant shall not, voluntarily or by operation of law, assign, sublet or encumber this Lease, the
Premises, or any portion thereof, nor allow the same to be used or occupied by any person, without the prior written consent of Landlord. For purposes of this Section, the transfer of any majority interest in the entity constituting the Tenant, or
the sale of all or substantially all of the assets of Tenant, or the merger or consolidation of Tenant with any other entity, or the divestiture of Tenant from any parent or affiliated company, shall be deemed to be an assignment of Tenant’s
interest. In no event shall Tenant have the right to assign this Lease or sublet any portion of the Premises to any third party tenant (or to any affiliated company of any third party tenant) who leases space in the Property or whose lease or
possession of any space in the Property is expiring, or to any third party who is negotiating with Landlord to lease space within the Property. In the event Landlord should consent to any assignment or sublease, no subtenant, assignee or other
occupant shall use the Premises for any purpose other than general office use. Further, in no event shall Landlord’s consent to any sublease or assignment constitute a release of Tenant front the full performance of Tenant’s obligations
under this Lease. Tenant shall pay to Landlord in advance, Landlord’s reasonable attorney’s fees to review and/or draft any documents Landlord deems necessary in connection with the transferor Tenant’s interests. 

  
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 13. DEFAULT. This Lease and Tenant’s right to possession of the Premises
is made subject to and conditioned upon Tenant performing all of the covenants and obligations to be performed by Tenant hereunder, at the times and pursuant to terms and conditions set forth herein. The following events shall each be an event of
default by Tenant under this Lease (“Default”): (a) Tenant fails to pay any Rent or other charge when the same is due; (b) Tenant fails to perform any other obligation to be performed by Tenant within the time or times set
forth herein; (c) Tenant makes any material misrepresentation, or commits any fraud or criminal act; (d) Tenant shall become insolvent, make a transfer in fraud of its creditors, make an assignment for the benefit of its creditors, files
or has filed against it a petition in bankruptcy, has a receiver, trustee or liquidator appointed over a substantial portion of its property or this Lease, or is adjudicated insolvent; or (e) Tenant vacates or abandons the Premises for more
than thirty (30) days. In the event any monetary Default shall continue for five (5) days after receipt of written notice from Landlord, or in the event any non-monetary Default shall continue for
ten (10) days after receipt of written notice from Landlord, or in the event Tenant becomes in Default for the same general reason three (3) or more times during the Term (regardless of whether or not Tenant subsequently cures such
Defaults); then, in addition to all other remedies afforded Landlord under this Lease, at law or in equity, Landlord may terminate this Lease, or terminate Tenant’s right of possession to the Premises without terminating this Lease, by delivery
of written notice to Tenant. In either event, Landlord shall have the right to dispossess Tenant, or any other person in occupancy, together with their property, and re-enter the Premises. No such
dispossession of Tenant or re-entry by Landlord, or Landlord’s voluntary acceptance of the keys to the Premises, shall constitute or be construed as an election by Landlord to terminate this Lease, unless
Landlord delivers written notice to Tenant specifically terminating this Lease. Upon such re-entry, Tenant shall be liable for all expenses incurred by Landlord in recovering the Premises including, without
limitation, clean-up costs, legal fees, removal, storage or disposal of Tenant’s property, and restoration costs. 

In the event Landlord elects to terminate this Lease, Tenant shall immediately vacate the Premises and pay to Landlord all Rent accrued
through the effective date of termination, together with any late fees and interest thereon, plus an amount equal to all tenant concessions initially granted to Tenant including, but not limited to, any free or reduced Rent, any interior finish
constructed within the Premises, or any contribution paid to Tenant in lieu thereof. In addition thereto, the remainder of the Rent payable by Tenant through the Expiration Date of this Lease, less the fair market rental value of the Premises over
the same period (net of all expenses and vacancy periods reasonably projected by Landlord to be incurred in connection with the reletting of the Premises) shall be accelerated and become immediately due and payable. 

In the event Landlord elects not to terminate this Lease, but only to terminate Tenant’s right of possession to the Premises, Tenant
shall immediately vacate the Premises and pay to Landlord all Rent accrued through the effective date of repossession, together with any late fees and interest thereon. Upon repossession, Landlord may use reasonable efforts to mitigate its damages
and relet the Premises upon terms and conditions satisfactory to Landlord; however, Landlord shall have no duty to prioritize the reletting of the Premises over the leasing of other vacant space within the Property. Tenant shall remain liable for
all Rent accruing after the date of repossession (together with all late fees and interest), payable monthly as such Rent accrues, in an amount equal to the Rent payable under this Lease, less the rent (if any) collected by Landlord from any
reletting. Landlord shall have the right to make repairs, alterations, and additions in or to the Premises and redecorate and remodel the same to the extent deemed necessary by Landlord in connection with any reletting of the Premises; and Tenant
shall pay to Landlord the cost thereof within fifteen (15) days after receipt of Landlord’s statement. 

  
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 In addition to any other remedy afforded Landlord under this Lease, Tenant hereby grants to
Landlord a continuing security interest in all of Tenant’s goods, wares, equipment, fixtures, furniture, and all proceeds thereof (collectively, “Security”) situated within the Premises. In the event Tenant shall be in Default
under this Lease, Tenant shall not remove any such Security from the Premises without the prior written consent of Landlord; and Landlord shall have all rights and remedies under the Uniform Commercial Code including, without limitation, the right
to sell such Security at public or private sale upon five (5) days’ prior written notice to Tenant. Tenant hereby agrees to execute financing statements and other reasonable instruments necessary or desirable, in Landlord’s
discretion, to perfect any security interest hereby created; and, in the event Tenant should fail or refuse to execute any such financing statements or instruments, Landlord shall be granted a limited power of attorney to execute such
statements/instruments in the name and on behalf of Tenant and perfect Landlord’s security interest in the Security. The lien hereby created shall be in addition to any statutory lien granted under the laws of the State of Minnesota. 

No action by Tenant after final judgment for possession of the Premises shall reinstate this Lease, and Tenant waives any and all rights of
redemption in the event Tenant is judicially dispossessed. Should Landlord elect not to exercise any of its rights in the event of a Default, it shall not be deemed a waiver of such rights as to subsequent Defaults. No payment by Tenant or receipt
by Landlord of a lesser amount than that stipulated to be paid shall be deemed to be anything other than a payment on account; nor shall any endorsement or statement on any check or letter accompanying any payment be deemed an accord and
satisfaction; and Landlord may accept any payment without prejudice to Landlord’s right to recover the balance or pursue any other remedy under this Lease. Landlord reserves the right to apply any monies received from Tenant, regardless of how
designated, to any outstanding Rent, interest, late fees or other amounts then owed to Landlord under this Lease. All of the aforesaid rights of Landlord shall be in addition to any remedies which Landlord may have at law or in equity; Landlord
shall have the right to pursue any one or all of such remedies; and no election of remedy by Landlord shall preclude Landlord from subsequently pursuing any of Landlord’s other remedies. Tenant shall pay all costs and attorney’s fees
incurred by Landlord from enforcing the covenants of this Lease. 
 14. RIGHT TO CURE TENANT’S DEFAULT. If Tenant is in
Default under any provision of this Lease other than for the payment of Rent, and Tenant has not cured such Default within ten (10) days after receipt of Landlord’s written notice, Landlord shall have the right but not the obligation to
cure such Default on behalf of Tenant, at Tenant’s expense. Landlord may also perform any obligation of Tenant, without notice to Tenant, should Landlord deem such performance to be an emergency, or Landlord reasonably determines that such
Default will result in a violation of law or the cancellation of any insurance policy maintained by Landlord, or will unreasonably interfere with any other tenants in the Property. If Landlord incurs any expense, including reasonable attorney’s
fees, in instituting, prosecuting and/or defending any action or proceeding by reason of any emergency or Default, Tenant shall reimburse Landlord for the same, as Additional Rent, with interest calculated thereon at the rate of thirteen percent
(13%) per annum from the date such payment is first due Landlord. 
 15. RETURN OF PREMISES. Upon the expiration or earlier
termination of this Lease, Tenant shall surrender and return the Premises to Landlord in substantially the same condition as when received, reasonable wear and tear excepted. Tenant shall give Landlord thirty (30) days written notice prior to
Tenant vacating the Premises, for the purpose of arranging a joint inspection of the Premises with respect to any obligation to be performed 

  
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therein by Tenant including, without limitation, the necessity of any repair or restoration of the Premises. In the event Tenant fails to notify Landlord of such inspection, Landlord’s
inspection after Tenant vacates shall be conclusively deemed correct for purposes of determining Tenant’s responsibility under this Lease. Tenant shall remove all alterations, additions and improvements made by Tenant within the Premises
including, without limitation, all fixtures and trade fixtures, regardless of how attached and all Telecommunication Equipment installed by or on behalf of Tenant in or about the Property. Notwithstanding the aforesaid, upon Landlord’s written
election, any such alterations, additions, improvements or Telecommunication Equipment (other than trade fixtures) shall become the property of Landlord and shall remain within the Premises. All such work shall be performed in a good and workmanlike
manner, using Approved Contractors and Approved Materials; and all such repairs and restoration shall be in compliance with all Laws, as well as all requirements of Landlord’s insurance carrier. In the event Tenant fails to return the Premises
to Landlord as aforesaid prior to the termination of this Lease, Tenant shall be liable for the costs thereof, which liability shall survive the Term. 

16. HOLDOVER. Upon the expiration or earlier termination of this Lease, Tenant shall surrender the Premises to Landlord, without
notice or demand. If Tenant shall remain in possession of the Premises after the termination of this Lease and hold over for any reason, then, in addition to all other remedies afforded to Landlord at Law or in equity, Tenant shall become a tenant
at sufferance only, upon the terms and conditions set forth in this Lease, including the payment of Additional Rent, but at a monthly Base Rent equal to two hundred percent (200%) of the monthly Base Rent payable under this Lease during the last
month prior to any such holdover. In addition, Tenant shall be liable to Landlord for all other damages incurred by Landlord as a result of such holdover. Acceptance by Landlord of any Rent after such expiration or earlier termination shall not
constitute a consent to a holdover or cause an extension of the Term. Should any of Tenant’s property remain within the Premises after the termination of this Lease, it shall be deemed abandoned, and Landlord shall have the right, without
liability to Landlord, to store or dispose of such property at Tenant’s cost, the liability for which costs shall survive the Term. 

17. HOLD HARMLESS. Landlord shall not be liable to Tenant for any damage to or loss of any property of Tenant’s agents,
employees, licensees, invitees, contractors or other persons, which Tenant places or permits to be placed within the Premises; and Tenant agrees to indemnify, hold harmless, and defend Landlord, at Tenant’s sole cost and expenses, from all
claims liabilities and expenses (including reasonable attorney’s fees) incurred by Landlord arising from any such damage or loss. To the extent not prohibited by law, and to the extent that Landlord or its agents are neither negligent nor
willful, Landlord shall not be liable for any injuries to Tenant, its agents, employees, licensees, invitees, contractors or other persons, caused by: the condition, operation or maintenance of the Property; the acts of any employee, agent,
licensee, invitee, or contractor of the Landlord, Tenant or other tenants of the Property; or the general public. Tenant shall indemnify, hold harmless and defend Landlord, at Tenant’s sole cost and expense, from any and all claims, damages to
property, injuries to persons, losses, liabilities and expenses (including reasonable attorney’s fees) arising from any occurrence within the Premises that is the fault of Tenant; any act or permitted act or omission of Tenant or any of
Tenant’s employees, agents, licensees, invitees and contractors within the Property; or Tenant’s breach of any covenant under this Lease. In the event any suit shall be instituted against Landlord by any third person for which Tenant is
hereby indemnifying and holding Landlord harmless, Tenant shall defend such suit at Tenant’s sole cost and expense with counsel reasonably satisfactory to Landlord; or, at Landlord’s election, Landlord may

  
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defend such suit, in which event Tenant shall pay Landlord, as Additional Rent, Landlord’s costs of such defense. The aforesaid indemnifications and obligations shall survive the Term; and,
for purposes of Tenant’s obligations under this Section, the term “Landlord” shall mean and include Landlord and all members, managers, partners, directors, officers and shareholders of Landlord, their agents, employees,
independent contractors, representatives, successors and assigns. 
 18. CONDEMNATION. If the whole of the Premises or any
substantial portion of the Property shall be taken for any public or quasi-public use under any statute or by right of eminent domain or by purchase under threat of condemnation (collectively, “Condemned”), this Lease shall
automatically terminate effective as of the taking date. In the event only a portion of the Premises is Condemned, either party shall have the right to terminate this Lease effective as of the taking date, provided the remaining portion of the
Premises are untenantable for Tenant’s use and Landlord cannot find alternate space within the Property to replace that portion of the Premises which is Condemned. In the event this Lease is not terminated in full, then this Lease shall
terminate on the taking date only as to that portion of the Premises so Condemned, and the Rent and other charges payable by Tenant shall be reduced in proportion to that portion of the Premises which is Condemned. Landlord shall be entitled to the
entire Condemnation award for all realty and improvements. Tenant shall have no right to claim or receive any award for any unexpired term of this Lease, or for any unexercised renewal or expansion options; and Tenant shall only be entitled to an
award for Tenant’s personal property and the unamortized portion of any improvements which were installed with the Landlord’s approval within the Premises by Tenant at Tenant’s cost, provided Tenant independently petitions the
condemning authority for same, and further provided any such award does not reduce or adversely affect Landlord’s award. 
 19.
INSURANCE. Tenant shall maintain in full force and effect throughout the Term the following specific insurance coverage, plus such other reasonable types of insurance coverage as may be reasonably requested from time to time by Landlord
consistent with the types of insurance coverage required by landlords of comparable buildings located in the vicinity of the Property: (a) commercial general liability insurance, and if necessary commercial umbrella insurance, on an occurrence
basis, in amounts of not less than a per occurrence limit of $1,000,000, with not less than a $2,000,000 general aggregate, or such other amounts as Landlord may from time to time reasonably require, insuring Tenant, against claims of bodily or
personal injury, and property damage, arising from Tenant’s operations, assumed liabilities or the use and/or occupancy of the Premises by Tenant or any of Tenant’s agents, employees, licensees, invitees or contractors, including a
commercial general liability endorsement covering the insuring provisions of this Lease and the performance by Tenant of the indemnity agreements set forth in this Lease; and if Tenant’s liability policies do not contain the standard ISO
separation of insureds provision, or a substantially similar clause, they shall be endorsed to provide cross-liability coverage; (b) contractual liability insurance coverage sufficient to cover Tenant’s indemnity obligations hereunder; (c) all-risk property insurance covering all property within the Premises including, without limitation, Tenant’s equipment, inventory, trade fixtures and supplies, all interior finish constructed by
either Landlord or Tenant within the Premises, all alterations and improvements made by or on behalf of Tenant within the Premises, and all property of any third persons placed or otherwise located within the Premises; said insurance shall be for
the guaranteed replacement cost value new without deduction for depreciation of the covered items; (d) worker’s compensation insurance and employers liability in statutory form and amounts containing a waiver of subrogation and endorsement
acceptable to Landlord; and (e) business interruption, loss-of-income and extra 

  
 16 

 
expense insurance, in such amounts as will reimburse Tenant for one hundred percent (100%) of all direct and indirect loss of earnings attributable to prevention of access to or use of the
Premises. All insurance deductibles under Tenant’s insurance coverages shall be the sole responsibility of Tenant without right of reimbursement from Landlord for any reason. Tenant’s insurance shall be primary and non-contributing with or in excess of any insurance coverage carried by Landlord. All policies of insurance shall contain a cross liability endorsement or severability of interest clause acceptable to Landlord and
be in amounts sufficient at all times to satisfy any coinsurance requirements thereof. Each policy of insurance shall insure Tenant, and shall name Landlord, Landlord’s managing agent, Landlord’s lenders, and such other parties reasonably
designated by Landlord, and their respective affiliates as additional insureds, all as their respective interests may appear. Tenant acknowledges that Landlord makes no representations that the aforesaid required insurance coverages and limits will
necessarily be adequate to protect Tenant and, except as otherwise specifically set forth in this Lease, such coverage and limits shall not be deemed as a limitation on Tenant’s liability under the indemnities granted to Landlord under this
Lease. Prior to taking occupancy, Tenant shall furnish certificates of all insurance required hereunder to be carried by Tenant, executed by a duly authorized representative of each insurer, or such other evidence satisfactory to Landlord of the
maintenance of all insurance coverages required hereunder; and Tenant shall obtain a written obligation on the part of each insurance company to notify Landlord and any other party requested by Landlord at least thirty (30) days before
cancellation or a material change of any such insurance. All such insurance policies shall be in a form, and issued by companies reasonably satisfactory to Landlord, and licensed to do business in the State of Minnesota, and rated not less than A:
XII in Best’s Insurance Guide. Failure of Landlord to demand any insurance certificate or other evidence with these insurance requirements, or failure of Landlord to identify a deficiency from evidence that is provided by Tenant to Landlord,
shall not be construed as a waiver of Tenant’s obligation to maintain such coverage. For purposes of this Section, the term, “affiliate,” shall mean any person or entity which directly or indirectly, controls, is controlled by,
or is under common control with the party in question. Tenant shall not do any act which may make void or voidable any insurance on the Premises or Property; and, in the event Tenant’s use of the Premises shall result in an increase in
Landlord’s insurance premiums, Tenant shall pay to Landlord upon demand, as Additional Rent, an amount equal to such increase in insurance. In the event Tenant fails to carry any of the above insurance, or provide Landlord with evidence of the
same, Tenant shall immediately be in Default under this Lease and, in addition to all other rights and remedies afforded Landlord herein, Landlord shall have the right to procure such insurance on behalf and at the expense of Tenant. 

Notwithstanding anything to the contrary in this Lease, it is agreed that, except for Landlord’s right to recover against any policies of
insurance herein required to be carried by Tenant, Landlord and Tenant hereby mutually waive any and all right of recovery against one another, directly, by way of subrogation or otherwise, due to the negligence of either party, their agents or
employees, for real or personal property damage occurring to the Premises, the Property, or any personal property located therein, or from loss of income (whether or not such insurance is actually carried). Each party shall have the affirmative duty
to inform their respective insurance carriers of this Section and the mutual waiver of subrogation contained herein. 

  
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 20. MORTGAGES/TITLE. This Lease is subject and subordinate to all mortgages,
deeds of trust, easements, right-of-ways, encumbrances, indentures, trustees agreements, ground or master leases, or other conditions of survey or title, in place, of
record, or hereinafter created, as well as to any extensions, modifications thereof (collectively, “Senior Rights”). Notwithstanding the aforesaid, the holder of any Senior Right may elect, at any time, unilaterally, to subordinate
its Senior Right to this Lease. Tenant hereby waives its right under any current or future Law which gives Tenant any right to terminate or otherwise adversely affect this Lease and the obligations of Tenant hereunder in the event of any foreclosure
or sale of the Property or any interests therein. Any subordination shall be self-executing but, at the written request of Landlord, Tenant shall execute such further assurances as Landlord deems desirable to confirm such subordination. In addition,
upon the written request of Landlord or the holder of any Senior Right, Tenant shall execute such instruments as such party reasonably deems necessary to attorn to the applicable holder of the Senior Right. In the event Tenant should fail or refuse
to execute any instrument required under this Section within fifteen (15) days after Landlord’s request, Landlord shall be granted a limited power of attorney to execute such instrument in the name and on behalf of Tenant. In the
event any holder of any existing or future Senior Right requires a modification of this Lease which does not increase Tenant’s Rent hereunder, or does not materially change any obligation of Tenant, or does not materially reduce any service
herein to be performed by Landlord, Tenant agrees to execute such appropriate instruments to reflect such modification, upon request by Landlord. At the request of Landlord or the holder of any Senior Right, Tenant shall give notice to said holder
of any default by Landlord under this Lease and afford to said holder a reasonable opportunity to cure such default on behalf of Landlord, 

21. LIENS. Tenant shall not mortgage or otherwise encumber or allow to be encumbered its interest herein without obtaining the
prior written consent of Landlord; nor shall Tenant permit any mechanic’s or other lien to be filed against the Property or any interests therein of Landlord. In the event Tenant authorizes, contracts or otherwise undertakes to perform or
provide any construction, alterations, installations or other work or materials to the Premises for which a mechanic’s lien or other lien can be filed, Tenant shall deliver to Landlord enforceable, unconditional and final lien releases or
waivers for all such work and materials within five (5) days after Landlord’s request, but in all events before the earliest date any such lien can be filed. Should Tenant cause or permit any mortgage, lien or other encumbrance (singularly
or collectively, “Encumbrance”) to be filed, against the Premises or the Property, Tenant shall dismiss or bond against the same within twenty (20) days after the filing thereof. If Tenant fails to remove or bond against said
Encumbrance within said twenty (20) days, Tenant shall be in Default; and in addition to all other rights and remedies afforded Landlord under this Lease, Landlord shall have the absolute right to remove said Encumbrance by whatever measures
Landlord shall deem convenient including, without limitation, payment of such Encumbrance, in which event Tenant shall reimburse Landlord, as Additional Rent, all costs expended by Landlord, including reasonable attorneys’ fees, to remove said Encumbrance. All of the aforesaid rights of Landlord shall be in addition to any remedies which either Landlord or Tenant may have available to them at law or in equity.
Tenant hereby acknowledges and agrees that Landlord shall not be liable for any labor, services or materials furnished or to be furnished to Tenant, or to anyone in possession of the Premises through or under Tenant; and that no mechanics’ or other liens for any such labor, services or materials shall attach to or affect the interest of Landlord in the Premises. 

22. NOTICES. All Rents which are required to be paid by Tenant shall be delivered to Landlord by United States mail, postage
prepaid, at Landlord’s address set forth in Section 1(k). All notices that are required to be given under this Lease shall be in writing, and delivered by either (a) United Slates registered or certified mail, return receipt
requested, or (b) a reputable overnight commercial courier/delivery service; however, in addition to the 

  
 18 

 
aforesaid, Landlord may deliver a notice of Default or lease termination by personal delivery or by posting such notice on the Premises in a conspicuous place. All notices to Landlord and Tenant
shall be sent postage prepaid, addressed to the parties hereto at their respective addresses set forth in Section 1. Either party may designate a different address by giving notice to the other party at the address set forth herein, or at any
other address as the parties may subsequently designate. Notices shall be deemed received upon the earlier of actual receipt or the date of the return receipt. If any such notices are refused, or if the party to whom any such notice is sent has
relocated without leaving a forwarding address, then the notice shall be deemed received on the date the notice-receipt is returned stating that the same was refused or is undeliverable at such address. 

23. OWNERSHIP. Notwithstanding anything in this Lease to the contrary, the term “Landlord” as used in this
Lease shall be defined as the from time to time current owner(s) of the Property. Landlord may transfer any portion of the Property and/or any of its rights under this Lease; and, upon such transfer, the conveying party shall automatically be
released from all liability with respect to any obligations occurring or covenants to be performed by Landlord or its agents after the effective date of such transfer. None of the covenants of Landlord under this Lease are personal in nature and, in
the event any “Landlord” should become in Default under this Lease, recovery by Tenant shall be limited to the interests of the then current “Landlord” in the Property at the time of the assertion of liability. 

24. SECURITY DEPOSIT. Simultaneously with the execution of this Lease, Tenant shall deliver to Landlord the full amount of the
Security Deposit set forth in Section 1(o) of this Lease, as security for the full and timely performance of Tenant’s obligations under this Lease, The parties acknowledge and agree that said Security Deposit (or any pre-paid Rent received from Tenant under this Lease or under any separate agreement in connection therewith) shall be deposited in Landlord’s general operating account, and not a separate escrow account. Should
said Security Deposit and/or pre-paid Rent be placed in an interest bearing account, all interest accruing thereon shall be payable to Landlord. Tenant’s Security Deposit shall not be construed as pre-paid Rent, or as a measure of Landlord’s damages in the event of a Default by Tenant. If Tenant should be placed in Default with respect to any provision of this Lease, Landlord may apply all or a portion
of said Security Deposit for the payment of any sum in Default or for the payment of any amount which Landlord expends by reason of such Default. If any portion of said Security Deposit is so applied, Tenant shall deposit with Landlord, within five
(5) days after receipt of Landlord’s written demand, an amount sufficient to restore said Security Deposit to its original amount. Upon the expiration of this Lease, Landlord shall return said Security Deposit to Tenant, provided Tenant
has paid to Landlord all sums owing to Landlord under this Lease, and Tenant has returned the Premises to Landlord pursuant to the terms of Section 15. If upon the termination of this Lease, there is accrued Additional Rent which as of such
date has not been invoiced to Tenant, or if Landlord reasonably determines that there is damage to the Premises for which Tenant is responsible under this Lease, Landlord reserves the right to either (a) withhold Tenant’s Security Deposit,
or so much of it as Landlord deems reasonable until Tenant’s actual obligation with respect to said Additional Rent have been determined, at which time Landlord shall offset Tenant’s actual obligation for Additional Rent and damages
against the Security Deposit held by Landlord and return the positive difference, if any, to Tenant; or (b) reasonably estimate Tenant’s obligation for Additional Rent and damages, and offset such amount against said Security Deposit. 

  
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 25. GOVERNMENT REGULATIONS. Tenant, at Tenant’s sole cost and expense,
shall comply with all laws and regulations of all municipal, state, or federal authorities now in force, or which may hereafter be in force, pertaining to, or in connection with, the Premises or Tenant’s use thereof (collectively,
“Laws”). Tenant shall not use or permit the Premises to be used in violation of any Law or in violation of any recorded covenant, condition or restriction. In addition, Tenant shall comply with all requirements of any board of fire
underwriters, or any similar body having jurisdiction over the Premises, together with any reasonable requirements of Landlord’s insurance carrier with respect to Tenant’s use of the Premises. Tenant shall not cause or permit any Hazardous
Materials to be received, stored, handled, generated or released upon the Premises or the Property by Tenant or any employee, agent, invitee, licensee or contractor of Tenant. For purposes of this Lease “Hazardous Materials” shall
mean and include any hazardous, explosive toxic or highly combustible materials, substances or wastes now or hereinafter defined or designated from time to time by any Law applicable to the Property or any governmental authority having jurisdiction
over the Property. Tenant shall indemnify, hold harmless and defend Landlord, at Tenant’s sole cost and expense, from and against any and all liabilities, damages, losses, claims and expenses (including reasonable attorney’s fees and
consequential damages) due to any damage or injury to persons or property of Landlord or of third persons arising out or as a direct or indirect result of (a) any Hazardous Materials brought onto the Premises and/or the Property by Tenant or by
any of Tenant’s employees, agents, invitees, licensees or contractors, or (b) the breach or violation of any Law or the non-compliance of any requirement of the Americans with Disabilities Act, by
Tenant or by any of Tenant’s employees, agents, invitees, licensees or contractors. The aforesaid hold harmless indemnification and duty to defend shall survive the Term. 

26. ESTOPPEL CERTIFICATES. Within ten (10) days after Landlord’s request, Tenant shall execute and return to Landlord
or its designee a statement in a form requested by Landlord certifying, to the extent true, that this Lease is unmodified and in full force and effect, that Tenant has no defenses, offsets or counterclaims against its obligations to pay any Rent or
to perform any other covenants under this Lease, that there are no uncured Defaults of Landlord or Tenant, the dates to which the Rent and other charges have been paid, and any other information reasonably requested by Landlord. In the event Tenant
fails to return such statement within said ten (10) days, setting forth the above or alternatively setting forth any Lease modifications, defenses and/or uncured Defaults, Tenant shall be in Default hereunder or, at Landlord’s election, it
shall be deemed that Landlord’s statement is correct with respect to the information therein contained. Any such statement delivered pursuant to this Section may be relied upon by any prospective purchaser, mortgagee, or assignee of any
mortgagee of the Property. 
 27. PERSONAL PROPERTY TAXES. Tenant shall timely pay all taxes assessed against Tenant’s
personal property and those improvements to the Premises which are in excess of Landlord’s standard installations. In the event any of Tenant’s personal property or improvements are assessed with the property of Landlord, Tenant shall pay
to Landlord an amount reasonably determined by Landlord equal to Landlord’s estimation of Tenant’s share of such taxes, within ten (10) days after receipt of Landlord’s statement. 

28. INTENTIONALLY DELETED 

29. BROKERAGE. The parties warrant that they have dealt with no broker or other person claiming a commission in connection with
this transaction other than the brokers set forth in Sections 1(p) and 1(q) of this Lease; and each party shall hold the other party harmless for any breach of such warranty. Landlord shall be liable for any commissions payable to such
broker(s) pursuant to the terms and conditions of a separate commission agreement between Landlord and Landlord’s broker. 

  
 20 

 30. CONFIDENTIALITY. Tenant acknowledges that the terms and conditions set
forth in this Lease are confidential in nature, and that the negotiations preceding the drafting of this instrument constitute proprietary information of Landlord. Therefore, Tenant and its agents (including Tenant’s brokers and attorneys)
shall not disclose any of the terms or conditions herein contained to any person other than authorized agents of Tenant. In no event shall Tenant disclose any such terms or conditions to any third party tenant within the Property. In the event
Tenant breaches such confidence, Tenant shall be in Default of this Lease and/or shall be liable to Landlord for any damages Landlord sustains as a direct or indirect result of such breach. 

31. MISCELLANEOUS. (a) Covenants and Conditions. All of the covenants of Tenant hereunder shall be
deemed and construed to be “conditions” as well as “covenants” as though both words were used in each separate instance. 

(b) Recording. This Lease shall not be recorded by Tenant without the prior written consent of Landlord. 

(c) Section Headings, Severability and Interpretation. The Section headings appearing in this Lease are
inserted only as a matter of convenience, and in no way define or limit the scope of any Section. In the event any provision of this Lease is found to be invalid or unenforceable, the same shall not affect or impair the validity or enforceability of
any other provision. Words in the singular number include the plural, and vice versa; and masculine references shall include the feminine and neuter, and vice versa. All references to “days” shall mean calendar days, unless specifically
stated to be “business days”; provided, however for purposes of receipt of notices under Section 22, notices received after 5:00 p.m. in the then current time zone of the recipient shall be deemed to have been delivered on the next
calendar day, unless the recipient otherwise acknowledges receipt to the sender on the actual day of delivery. 
 (d) Managing Agent.
Landlord reserves the right to designate from time to time one or more managing agents, and to assign to such agent(s) such rights or obligations as Landlord may determine. Notwithstanding the aforesaid, so long as Landlord is the fee owner of the
Property, no assignment by Landlord to any managing agent shall relieve Landlord of its liability with respect to its obligations hereunder, 

(e) Nuisance. Tenant shall not do or permit anything to be done in or about the Premises or the Property which will in any way obstruct
or interfere with the rights of other tenants; nor shall Tenant cause, maintain or permit any nuisance in or about the Premises or Property which will disturb the peaceful occupancy of any other tenants; nor shall Tenant commit or allow any immoral
or illegal acts within the Premises, or commit or suffer to be committed any waste in or about the Property. 
 (f) Force Majeure.
Except with respect to Tenant’s obligation for the payment of Rent and the maintenance of the requisite insurance set forth herein, and except with respect to specific cure periods provided herein for and with respect to Tenant’s Default,
in the event any obligation to be performed by either Landlord or Tenant is prevented or delayed due to labor disputes, acts of God, inability to obtain materials, government restrictions, casualty, or other causes beyond the parties’ control,
the responsible party shall be excused from performing such 

  
 21 

 
obligation for a period of time equal to such delay. If as a result of any force majeure or other reason, Tenant is unable to occupy all or a portion of the Premises, and if pursuant to the terms
of this Lease Tenant is afforded a full or partial abatement of any Rent in such event, then Tenant shall accept such abatement of Base Rent as liquidated damages for Tenant’s loss of use of the Premises and interruption of business; and Tenant
hereby waives the provisions of any applicable existing or future Law permitting the termination of this Lease. 
 (g) Interests and Late
Fees. Notwithstanding anything to the contrary in this Lease, in no event shall any interest, fees or other charges payable to Tenant exceed such amounts as may be allowed by law. 

(h) Non-Discrimination. Tenant shall not permit discrimination against, or segregation of, any
person, group of persons, or entity on the basis of race, color, creed, religion, age, sex, marital status, national origin, or ancestry in Tenant’s use or occupancy of the Premises. 

(i) Integrated Instrument and Amendments. This Lease represents the final product and integration of all negotiations between Landlord
and Tenant; and the terms and conditions set forth herein shall incorporate and supersede all prior discussions and writings. Except as specifically set forth in this Lease, no representations, warranties or agreements have been made by Landlord or
Tenant to the other with respect to this Lease or with respect to the obligations of Landlord or Tenant in connection therewith. In the event any term or condition of this Lease is inconsistent with any term or condition of any prior verbal or
written understanding or agreement between the parties, the terms and conditions of this Lease shall prevail. In the event any term or condition of any prior verbal or written understanding or agreement between the parties is omitted in this Lease,
such omission is the specific intent of the parties. No provision of this Lease may be amended except by agreement in writing signed by both of the parties. 

(j) No Offer. The submission of this Lease shall not be deemed to be an offer, an acceptance, or a reservation of the Premises;
and Landlord shall not be bound hereby until Landlord has delivered to Tenant a fully executed copy of this Lease, signed by both of the parties on the last page of this Lease in the spaces herein provided. Until such delivery, Landlord reserves the
right to exhibit and lease the Premises to other prospective tenants. 
 (k) Binding Effect. The terms and conditions contained in
this Lease shall inure to the benefit of and be binding upon the parties hereto, and upon their respective successors in interest and legal representatives, except as otherwise herein expressly provided. 

(l) Financial Statements. Within fifteen (15) days after any request by Landlord, Tenant shall furnish Landlord with such
financial statements of Tenant, Tenant’s business and/or any guarantor of this Lease, as Landlord may request. Landlord agrees not to disclose any information of such financial statements except to Landlord’s professional consultants,
lenders or prospective purchasers. 
 (m) Withhold Possession. Landlord may withhold possession of the Premises from Tenant until
such time as Tenant has paid to Landlord the Security Deposit required by Section 24 of this Lease, and the first month of Base Rent required by Section 4(a) of this Lease. 

  
 22 

 (n) Governing Law. This Lease and the parties’ respective rights hereunder shall
be governed by the laws of the State of Minnesota. Landlord and Tenant hereby waive any and all right to a trial by jury on any issue to enforce any term or condition of this Lease, or with respect to Landlord’s right to terminate this
Lease or terminate Tenant’s right of possession. 
 (o) Tenant’s Authority. The party executing this lease on behalf of
Tenant represents and warrants that: (i) said party has the authority to bind Tenant under this Lease; and (ii) the Tenant is a duly organized entity in good standing and qualified to do business in the State of Minnesota, and that all
necessary approvals and resolutions of Tenant have been secured to authorize execution of this Lease by Tenant. 
 (p) Exhibits. This
Lease is modified and affected by the Exhibits listed in Section 1(v) which are attached hereto and made a part hereof. 

32. RIGHT OF FIRST REFUSAL. Tenant shall have a one-time right of first refusal to lease
that certain space within the Property known and numbered as Suite 185 (the “Option Space”), pursuant to the following terms and conditions. Provided this Lease is in full force and effect and Tenant is not in Default
hereunder, Landlord agrees to notify Tenant in writing the first time Landlord has a prospective third party tenant who in Landlord’s reasonable determination is ready, willing and able to occupy and lease all or any portion of said Option
Space. Upon receipt of Landlord’s notice, Tenant shall have ten (10) days in which to notify Landlord in writing of its election to lease not less than all of the Option Space set forth in Landlord’s notice. In the event Tenant does
not notify Landlord within said ten (10) days, Tenant’s rights with respect to the space identified in Landlord’s notice will be null and void, and Landlord may lease such space to any prospective tenant, at such rental and upon such
terms and conditions as Landlord in its sole judgement may desire. If Tenant notifies Landlord within said ten (10) days of Tenant’s election to lease the space identified in Landlord’s notice, Tenant shall lease the applicable Option
Space upon the same terms and conditions as set forth in this Lease, except as follows: 
 (a) The term for the Option Space shall commence
on the first day of the calendar month following Tenant’s notice of election to Landlord, and shall thereafter run concurrent with the term of this Lease with respect to the primary space. 

(b) Tenant shall accept any said Option Space in its then “AS IS” condition; and, except to the extent that any interior finish
construction or allowance is included as part of the determination of market rate pursuant to Section 32(c), Landlord shall have no obligation to perform any alterations or improvements within such space, other than to remove one
(1) secretarial desk and repair or replace the carpet under such desk. 
 (c) The Base Rent for any said Option Space shall be based
upon the Base Rent that Tenant is paying for the primary space at the time that Tenant wishes to take delivery of the applicable Option Space. Notwithstanding anything to the contrary in this Section, in no event shall the annual per square foot
rate payable for any Option Space be less than the then current annual per square foot rate payable for the primary space then being leased by Tenant. 

(d) Tenant’s proportionate share, for purposes of determining Tenant’s obligation for Additional Rent or any other charge payable to
Landlord under this Lease shall be equitably increased to reflect the additional square footage of the applicable Option Space. 

  
 23 

 (Signatures on following page) 

  
 24 

 WHEREFORE, Landlord and Tenant have respectively executed this Lease the day and year first
above written. 
  

									
	TENANT:	 		 	LANDLORD:
			
	EARGO, INC.	 		 	LAGOS PROPERTIES, LLC

									
					
	By:	 	/s/ Christian Gormsen	 		 	By:	 	/s/ Paul Larson
	Print Name: Christian Gormsen	 		 	Print Name: Paul Larson
	Title: CEO	 		 	Title: CEO

 EXHIBIT “A” 

(Floor Plan) 

 EXHIBIT “B” 

OFFICE BUILDING 
 RULES
AND REGULATIONS 
 Tenant agrees to comply with the following rules and regulations, and any subsequent rules or regulations which
Landlord may adopt or modify from time to time. Tenant shall be bound by such rules and regulations to the same extent as if such rules and regulations were covenants of (his Lease; and any non-compliance
thereof shall constitute a Default tinder this Lease. Landlord shall not be liable to Tenant for the non-observance of any of said rules and regulations by any other tenant. 

(1) No sign or advertisement shall be displayed by Tenant on the outside or the inside (and visible from the outside) of the Premises without
the prior written consent of Landlord. Tenant shall not use any picture or likeness of the Property many not ices or advertisements, without Landlord’s prior written consent. 

(2) Landlord shall provide and install, at Tenant’s expense, such letters and/or numerals on the main entrance to the Premises, and on
the building directory, to identify Tenant’s name. All such letters and numerals shall be of building standard graphics, and no other signage shall be used or permitted. All such signage so placed shall be at Tenant’s risk. Tenant shall
cause the removal of all such signage from the Property at the end of Tenant’s term, or Landlord may cause such removal at Tenant’s expense, 

(3) No additional locks shall be placed upon any door of the Premises, and Tenant shall not permit any duplicate keys to he made, without the
prior consent of Landlord. Upon the expiration or earlier termination of this Lease, Tenant shall surrender to Landlord all keys to the Premises and Properly. 

(4) Landlord retains the power to prescribe the weight and proper position of safes, mechanical equipment, and any other bulky or excessively
weighty objects. All such objects shall be moved into or out of the Premises under the prior written consent and supervision of Landlord and at such times and according to such regulations as may be designated from time to time by Landlord.
Notwithstanding such supervision, Tenant shall be responsible for all damage to the Property caused by moving such objects. 
 (5) Tenant
shall not install any additional lighting, or use any data processing equipment which utilizes power other than 110 electrical current to the Premises. Tenant shall not use any other fuel source other than electricity to heat, cool or light the
Premises. Tenant shall not install any air-conditioning apparatus in the Premises. Tenant shall not permit any animals or any foul or noxious gas, noise, odors and/or vibrations in the Premises which may
obstruct or interfere with the rights of other tenant(s) in the Property. 
 (6) Tenant shall not permit within the Premises any animals
other than service animals; nor shall Tenant create or allow any foul or noxious gas, noise, odors, sounds, and/or vibrations within the Premises, or create any interference with the operation of any equipment or radio or television
broadcasting/reception from within or about the Property, which may obstruct or interfere with the rights of any other tenant(s) in the Property. 

(7) Tenant shall not contract for any work or service to be performed to or within the Premises which might involve the employment of labor
incompatible with Landlord’s employees or the employees of contractors doing work or performing services by or on behalf of Landlord. 

 (8) No sidewalks, loading areas, stairways, doorways, corridors, and other common areas
shall be obstructed by Tenant or used for any purpose other than for ingress and egress. 
 (9) Tenant shall not install any window
treatments other than existing treatments or otherwise obstruct the windows of the Premises without Landlord’s prior written consent. 

(10) After normal business hours Tenant shall lock all doors and windows of the Premises; and, in the event the building is locked after
normal business hours and Tenant allows its employees, agents, contractors, invitees or licensees to enter the building after such hours, Tenant shall be responsible that such persons lock the building upon exiting. Tenant shall be liable for all
damages sustained by Landlord arising from such failure. 
 (11) Any person(s) other than Landlord’s selected janitorial service, who
shall be employed by Tenant for the purpose of cleaning the Premises shall be employed at Tenant’s cost. Tenant shall indemnify and hold Landlord harmless from all losses, claims, liability, damages, and expenses for any injury to person or
damage to property of Tenant, or third persons, caused by Tenant’s cleaning contractor, 
 (12) Tenant shall not canvass or solicit
business, or allow any employee of Tenant to canvass or solicit business, from other tenants in the Property. 
 (13) Landlord reserves the
right to place into effect a “no smoking” policy within all or selected portions of the common areas of the Property, wherein Tenant, its agents, employees and invitees shall not be allowed to smoke. Tenant shall not be allowed to smoke in
any common stairwells, elevators or bathrooms; nor shall Tenant dispose of any smoking material including, without limitation, matches, ashes and cigarette butts on the floors of the Property, about the grounds of the Property, or in any receptacle
other than a specifically designated receptacle for smoking. 

  
 B-2

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