Document:

Warrant for the Purchase of Shares of Common Stock of Angie's List, Inc.

 Exhibit 4.3 
 THIS COMMON STOCK PURCHASE WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD OR
TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR SOME OTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS IS AVAILABLE WITH RESPECT
THERETO. 
 COMMON STOCK PURCHASE WARRANT 
  

					
	Warrant No. __________	  	 	Number of Shares: 34,038	  

 ANGIE’S LIST, INC. 

Effective as of April 30, 2010 
 Void after April 30, 2017 
 1. Issuance. This
Common Stock Purchase Warrant (the “Warrant”) is issued to LIGHTHOUSE CAPITAL PARTNERS VI, L.P. by ANGIE’S LIST,
INC., a Delaware corporation (hereinafter with its successors called the “Company”). 
 2. Purchase Price; Number of Shares. The registered holder of this Warrant (the “Holder”), commencing on the date hereof, is entitled upon surrender of this Warrant with the
subscription form annexed hereto duly executed, at the principal office of the Company, to purchase from the Company, at a price per share of $67.4245 (the “Purchase Price”), 34,038 fully paid and nonassessable shares of Common
Stock, $0.001 par value, of the Company (the “Common Stock”). 
 Until such time as this Warrant is exercised
in full or expires, the Purchase Price and the securities issuable upon exercise of this Warrant are subject to adjustment as hereinafter provided. The person or persons in whose name or names any certificate representing shares of Common Stock is
issued hereunder shall be deemed to have become the holder of record of the shares represented thereby as at the close of business on the date this Warrant is exercised with respect to such shares, whether or not the transfer books of the Company
shall be closed. 
 3. Payment of Purchase Price. The Purchase Price may be paid (a) in cash or by
check, (b) by the surrender by the Holder to the Company of any promissory notes or other obligations issued by the Company, with all such notes and obligations so surrendered being credited against the Purchase Price in an amount equal to the
principal amount thereof plus accrued interest to the date of surrender, or (c) by any combination of the foregoing. 
 4. Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Common Stock equal to the value of this Warrant or any portion
hereof by the surrender of this Warrant or such portion to the Company, with the net issue election notice annexed hereto duly executed, at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of fully
paid and nonassessable shares of Common Stock as is computed using the following formula: 
  

					
	 X=
	  	Y (A-B)	  	
	  	A	  	

  

			
	 where: X =
	  	 the number of shares of Common Stock to be issued to the Holder pursuant to this Section 4.

  
 1. 

			
	 Y =
	  	the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.

  

			
	 A =
	  	the Fair Market Value (defined below) of one share of Common Stock as determined at the time the net issue election is made pursuant to this
Section 4.

  

			
	 B =
	  	the Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.

 “Fair Market Value” of a share of Common Stock as of the date that the net issue
election is made (the “Determination Date”) shall mean: 
 (i) If the net issue election
is made in connection with and contingent upon the closing of the sale of the Common Stock to the public in a public offering pursuant to a Registration Statement under the 1933 Act (a “Public Offering”), and if the Company’s
Registration Statement relating to such Public Offering (“Registration Statement”) has been declared effective by the Securities and Exchange Commission, then the initial “Price to Public” specified in the final prospectus
with respect to such offering. 
 (ii) If the net issue election is not made in connection with and
contingent upon a Public Offering, then as follows: 
 (a) If traded on a national securities exchange
or NASDAQ Global Stock Market or other quotation system, the fair market value of the Common Stock shall be deemed to be the average of the closing or last reported sale prices of the Common Stock on such exchange or market over the five day period
ending five trading days prior to the Determination Date; 
 (b) If otherwise traded in an
over-the-counter market, the fair market value of the Common Stock shall be deemed to be the average of the closing ask prices of the Common Stock over the five day period ending five trading days prior to the Determination Date; and 

(c) If there is no public market for the Common Stock, then fair market value shall be determined in good faith
by the Company’s Board of Directors. 
 5. Partial Exercise. This Warrant may be exercised in part,
and the Holder shall be entitled to receive a new warrant, which shall be dated as of the date of this Warrant, covering the number of shares of Common Stock in respect of which this Warrant shall not have been exercised. 

6. Fractional Shares. In no event shall any fractional share of Common Stock be issued upon any exercise of this
Warrant. If, upon exercise of this Warrant in its entirety, the Holder would, except as provided in this Section 6, be entitled to receive a fractional share of Common Stock, then the Company shall issue the next higher number of full
shares of Common Stock, issuing a full share with respect to such fractional share. 
 7. Expiration Date;
Automatic Exercise. This Warrant shall expire at the close of business on April 30, 2017, and shall be void thereafter (the “Expiration Date”). Notwithstanding the foregoing, this Warrant shall automatically be deemed to be
exercised in full pursuant to the provisions of Section 4 hereof, without any further action on behalf of the Holder, immediately prior to the time this Warrant would otherwise expire pursuant to the preceding sentence. 

8. Reserved Shares; Valid Issuance. The Company covenants that it will at all times from and after the date hereof
reserve and keep available such number of authorized shares of Common Stock, free from all preemptive or similar rights therein, as will be sufficient to permit the exercise of this Warrant in full. The Company further covenants that such shares as
may be issued pursuant to such exercise will, upon issuance, be duly and validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issuance thereof. 

  
 2. 

 9. Stock Splits and Dividends. If after the date hereof the Company
shall subdivide the Common Stock, by split-up or otherwise, or combine the Common Stock, or issue additional shares of Common Stock in payment of a stock dividend on the Common Stock, the number of shares of Common Stock issuable on the exercise of
this Warrant shall forthwith be proportionately increased in the case of a subdivision or stock dividend, or proportionately decreased in the case of a combination, and the Purchase Price shall forthwith be proportionately decreased in the case of a
subdivision or stock dividend, or proportionately increased in the case of a combination. 
 10. Antidilution
Rights. The other antidilution rights applicable to the Common Stock of the Company, if any, are set forth in the Amended and Restated Certificate of Incorporation, as amended from time to time (the “Articles”), a true and
complete copy in its current form which is attached hereto as Exhibit A. Such rights shall not be restated, amended or modified in any manner which affects the Holder differently than the holders of Common Stock without
such Holder’s prior written consent. The Company shall promptly provide the Holder hereof with any restatement, amendment or modification to the Articles promptly after the same has been made. 

11. Mergers and Reclassifications. If after the date hereof the Company shall enter into any Reorganization (as
hereinafter defined), then, as a condition of such Reorganization, lawful provisions shall be made, and duly executed documents evidencing the same from the Company or its successor shall be delivered to the Holder, so that the Holder shall
thereafter have the right to purchase, at a total price not to exceed that payable upon the exercise of this Warrant in full, the kind and amount of shares of stock and other securities and property receivable upon such Reorganization by a holder of
the number of shares of Common Stock which might have been purchased by the Holder immediately prior to such Reorganization, and in any such case appropriate provisions shall be made with respect to the rights and interest of the Holder to the end
that the provisions hereof (including without limitation, provisions for the adjustment of the Purchase Price and the number of shares issuable hereunder and the provisions relating to the net issue election) shall thereafter be applicable in
relation to any shares of stock or other securities and property thereafter deliverable upon exercise hereof. For the purposes of this Section 11, the term “Reorganization” shall include without limitation any
reclassification, capital reorganization or change of the Common Stock (other than as a result of a subdivision, combination or stock dividend provided for in Section 9 hereof), or any consolidation of the Company with, or merger of the
Company into, another corporation or other business organization (other than a merger in which the Company is the surviving corporation and which does not result in any reclassification or change of the outstanding Common Stock), or any sale or
conveyance to another corporation or other business organization of all or substantially all of the assets of the Company. 
 12. Certificate of Adjustment. Whenever the Purchase Price is adjusted, as herein provided, the Company shall promptly deliver to the Holder a certificate of the Company’s chief financial
officer setting forth the Purchase Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. 
 13. Notices of Record Date, Etc. In the event of: 

(a) any taking by the Company of a record of the holders of any class of securities for the purpose of determining
the holders thereof who are entitled to receive any dividend or other distribution, or any right to subscribe for, purchase, sell or otherwise acquire or dispose of any shares of stock of any class or any other securities or property, or to receive
any other right; 
 (b) any reclassification of the capital stock of the Company, capital reorganization
of the Company, consolidation or merger involving the Company, or sale or conveyance of all or substantially all of its assets; or 
 (c) any voluntary or involuntary dissolution, liquidation or winding-up of the Company; 
 then in each such event the Company will provide or cause to be provided to the Holder a written notice thereof. Such notice shall be provided at least ten (10) business days prior to the date
specified in such notice on which any such action is to be taken. 

  
 3. 

 14. Representations, Warranties and Covenants. This Warrant is issued
and delivered by the Company and accepted by each Holder on the basis of the following representations, warranties and covenants made by the Company: 
 (a) The Company has all necessary authority to issue, execute and deliver this Warrant and to perform its obligations hereunder. This Warrant has been duly authorized issued, executed and delivered
by the Company and is the valid and binding obligation of the Company, enforceable in accordance with its terms. 
 (b) The shares of Common Stock issuable upon the exercise of this Warrant have been duly authorized and reserved for issuance by the Company and, when issued in accordance with the terms hereof,
will be validly issued, fully paid and nonassessable. 
 (c) The issuance, execution and delivery of this
Warrant do not, and the issuance of the shares of Common Stock upon the exercise of this Warrant in accordance with the terms hereof will not, (i) violate or contravene the Company’s Articles or by-laws, or any law, statute, regulation,
rule, judgment or order applicable to the Company, (ii) violate, contravene or result in a breach or default under any contract, agreement or instrument to which the Company is a party or by which the Company or any of its assets are bound or
(iii) require the consent or approval of or the filing of any notice or registration with any person or entity. 
 (d) As long as this Warrant is, or any shares of Common Stock issued upon exercise of this Warrant are, issued and outstanding, the Company will provide to the Holder the financial and other
information described in that certain Loan and Security Agreement No. 1411 between the Company and Lighthouse Capital Partners VI, L.P. dated as of November 10, 2008, as amended. 

(e) So long as this Warrant has not terminated, the Holder shall be entitled to receive such financial and other
information as the Holder would be entitled to receive under the Investors’ Rights Agreement dated as of April 30, 2010 (the “Rights Agreement”) if the Holder were a holder of that number of shares issuable upon full
exercise of this Warrant. 
 (f) As of the date hereof, the authorized capital stock of the Company
consists of (i) 7,100,000 shares of Common Stock, of which 3,713,570 shares are issued and outstanding and 34,038 shares are reserved for issuance upon the exercise of this Warrant, (ii) 763,397 shares of Series A Preferred Stock, all of
which are issued and outstanding shares, (iii) 1,136,438 shares of Series B Preferred Stock, all of which are issued and outstanding shares, and (iv) 889,884 shares of Series C Preferred Stock, none of which are issued and outstanding
shares, however, it is anticipated that 229,887 share of Series C Preferred Stock will be issued within 2 business days of the date of this Warrant and up to 659,997 additional shares of Series C Preferred Stock may be issued within 90 days
thereafter. Attached hereto as Exhibit B is a capitalization table summarizing the capitalization of the Company. At the request of the Holder, not more than once per calendar quarter, the Company will provide the Holder
with a current capitalization table. 
 15. Registration Rights. The Company grants to the Holder all the
rights of a “Holder” and an “Investor” under the Company’s Rights Agreement, including, without limitation, the registration rights contained therein, so that (i) the shares of Common Stock issuable upon exercise of
this Warrant shall be “Registrable Securities” and (ii) the Holder shall be a “Holder” and a “Investor” for all purposes of such Rights Agreement. 

16. Amendment. The terms of this Warrant may be amended, modified or waived only with the written consent of the
Holder and the Company. 
 17. Representations and Covenants of the Holder. This Warrant has been entered
into by the Company in reliance upon the following representations and covenants of the Holder, which by its execution hereof the Holder hereby confirms: 

  
 4. 

 (a) Investment Purpose. The right to acquire Common Stock contained
herein will be acquired for investment and not with a view to the sale or distribution of any part thereof, and the Holder has no present intention of selling or engaging in any public distribution of the same except pursuant to a registration or
exemption. 
 (b) Accredited Investor. The Holder is an “accredited investor” within the
meaning of the Securities and Exchange Rule 501 of Regulation D, as presently in effect. 
 (c) Private
Issue. The Holder understands (i) that this Warrant and the Common Stock issuable upon exercise of the Holder’s rights contained herein are not registered under the 1933 Act or qualified under applicable state securities laws on the
ground that the issuance contemplated by this Warrant will be exempt from the registration and qualifications requirements thereof, and (ii) that the Company’s reliance on such exemption is predicated on the representations set forth in
this Section 17. 
 (d) Financial Risk. The Holder has such knowledge and experience in
financial and business matters as to be capable of evaluating the merits and risks of its investment and has the ability to bear the economic risks of its investment. 
 18. Notices, Transfers, Etc. 
 (a) Any notice or
written communication required or permitted to be given to the Holder may be given by certified mail or delivered to the Holder at the address most recently provided by the Holder to the Company. 

(b) Subject to compliance with applicable federal and state securities laws, this Warrant may be transferred by
the Holder with respect to any or all of the shares purchasable hereunder; provided, that the transferee or assignee does not engage in any business which is competitive to the Company. Upon surrender of this Warrant to the Company, together with
the assignment notice annexed hereto duly executed, for transfer of this Warrant as an entirety by the Holder, the Company shall issue a new warrant of the same denomination to the assignee. Upon surrender of this Warrant to the Company, together
with the assignment hereof properly endorsed, by the Holder for transfer with respect to a portion of the shares of Common Stock purchasable hereunder, the Company shall issue a new warrant to the assignee, in such denomination as shall be requested
by the Holder hereof, and shall issue to such Holder a new warrant covering the number of shares in respect of which this Warrant shall not have been transferred. If this Warrant is transferred, the assignee shall execute a counterpart signature
page to the Rights Agreement, the Right of First Refusal and Co-Sale Agreement dated as of April 30, 2010, and the Voting Agreement dated as of April 30, 2010. 

(c) In case this Warrant shall be mutilated, lost, stolen or destroyed, the Company shall issue a new warrant of
like tenor and denomination and deliver the same (i) in exchange and substitution for and upon surrender and cancellation of any mutilated Warrant, or (ii) in lieu of any Warrant lost, stolen or destroyed, upon receipt of an affidavit and
indemnification of the Holder or other evidence reasonably satisfactory to the Company of the loss, theft or destruction of such Warrant. 
 19. No Impairment. The Company will not, by amendment of its Articles or through any reclassification, capital reorganization, consolidation, merger, sale or conveyance of assets, dissolution,
liquidation, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance of performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in
the taking of all such action as may be necessary or appropriate in order to protect the rights of the Holder. 

20. Governing Law. The provisions and terms of this Warrant shall be governed by and construed in accordance with
the internal laws of the State of Delaware without giving effect to its principles regarding conflicts of laws. 

21. Successors and Assigns. This Warrant shall be binding upon the Company’s successors and assigns and shall
inure to the benefit of the Holder’s successors, legal representatives and permitted assigns. 

  
 5. 

 22. Business Days. If the last or appointed day for the taking of any
action required of the expiration of any rights granted herein shall be a Saturday or Sunday or a legal holiday in Delaware, then such action may be taken or right may be exercised on the next succeeding day which is not a Saturday or Sunday or such
a legal holiday. 
 23. Value. The Company and the Holder agree that the value of this Warrant on the
date of grant is $100. 
 24. Rights as a Holder. The Holder shall not be entitled to vote or receive any
distributions of the Company in connection with this Warrant or be deemed the owner of shares of Common Stock purchasable hereunder until exercise of this Warrant, nor shall anything contained herein be construed to confer upon the Holder, solely as
the Holder of this Warrant, any of the rights as a stockholder of the Company, any right to vote upon any matter submitted to the stockholders of the Company at any meeting thereof or to receive notice of any meetings until this Warrant has been
exercised and the shares of Common Stock have been issued, as provided herein. Upon the exercise of this Warrant and the issuance of the shares of Common Stock, subject to the terms and conditions set forth herein, the Holder will be granted all the
rights and privileges of a holder of Common Stock as set forth in the Articles. 
  

			
	ANGIE’S LIST, INC.
		
	By:	 	/s/ William S. Oesterle
	Name:	 	William S. Oesterle
	Title:	 	President

  
 6. 

 Subscription 

 

			
	To:                     	  	Date:                     

 The undersigned hereby subscribes for
                     shares of Common Stock covered by this Warrant. The certificate(s) for such shares shall be issued in the name of the
undersigned or as otherwise indicated below: 
  

	
	
	 
	Signature
	
	  
	Name for Registration
	
	  
	Mailing Address

  
 1. 

 Net Issue Election Notice 

 

			
	To:                     	  	Date:                     

 The undersigned hereby elects under Section 4 to surrender the right to
purchase                      shares of Common Stock pursuant to this Warrant. The certificate(s) for such shares issuable upon such net issue
election shall be issued in the name of the undersigned or as otherwise indicated below: 
  

	
	
	 
	Signature
	
	  
	Name for Registration
	
	  
	Mailing Address

  
 1. 

 Assignment 

For value received
                                        
hereby sells, assigns and transfers unto
                                        

 ___________________________________________________________________________________________________ 

[Please print or typewrite name and address of Assignee] 
 the within Warrant, and does hereby irrevocably constitute and appoint
                                        
its attorney to transfer the within Warrant on the books of the within named Company with full power of substitution on the premises. 
 Dated:                      
 In the Presence of: 
 _______________ 

  
 1.Lease Agreement

 Exhibit 10.2 
 LEASE 
 THIS LEASE dated this 28th day of February, 2009 between Henry Amalgamated, LLC, the Lessor and
Brownstone Publishing, LLC, the Lessee. 
 WITNESSETH 
 1. Description of Premises. 
 The Lessor hereby
leases and demises offices and parking areas in the Firehouse Complex known as the following to the Lessee: See Exhibit ‘A’ attached hereto and made a part hereof. 
 2. Use of Premises. 
 To be used for general offices
and related uses. 
 3. Term. 
 For a term of five (4) years, commencing March 1, 2009. 
 4. Rent.

 The monthly rental shall be $37,630.00 

All rent due hereunder shall be paid monthly, in advance, on or before the first day of each month beginning
March 1, 2009. 
 In the event Lessor fails to receive the monthly rental on or before the first day that
said rent is due and payable, and said monthly rental is not paid within five (5) days following Lessee’s receipt of written notification from Lessor that said monthly rental is due and payable and remains unpaid, Lessee shall pay to
Lessor a five (5%) percent late charge on unpaid rental installment. 
 The parties hereto further covenant
with each other as follows: 
 5. Vacation of Premises. 

The Lessee will promptly pay the rent at the time and in the manner aforesaid, and at the expiration of the term will
peacefully yield up to the Lessor said premises in as good order and repair as when delivered of the Lessee, damage by fire, casualty, war or insurrection, riot or public disorder, or act upon the part of any governmental authority, ordinary wear
and tear, and damage by the elements excepted 
 6. Use and Occupation. 

The Lessee covenants that no waste or damage shall be committed upon or to the demised premises, that the premises shall
be used for the purposes hereinabove stated, and shall not be used or permitted to be used for any other purpose, that said premises shall not be used for any unlawful purpose and no violations of law or ordinance shall be committed thereon, that no
advertisement or notice will be affixed to any part of the building without the consent of the Lessor and that any additions or improvements placed upon the premises by either party during the term, except the movable property of the Lessee, shall
be the sole property of the Lessor. 

 Lessee agrees to comply at all times with any recommendations of
Lessee’s insurance company arising out of or relating to Lessee’s use of the demised premises, to pay for any and all expenses arising out of compliance with such recommendations, and to do nothing in its use of said premises or allow
anything to be done or any substance kept on said premises which would operate to increase the fire hazard. 
 7. Assignments and
Sub-Letting. 
 The Lease shall not be assigned, or the demised premises underlet, without the written
consent of the Lessor hereon endorsed, which consent shall not be unreasonably withheld, and such consent having been given, the Lessee shall, nevertheless, remain primarily liable to perform all covenants and conditions hereof and to guarantee such
performance by its assignee or subtenant. 
 8. Abandonment. 

If Lessee shall abandon or vacate said premises before the end of the term or any other event happen entitling Lessor to
take possession thereof, Lessor will make reasonable efforts to take possession of the premises and relet same without such action being deemed an acceptance of a surrender of this lease, or in any way terminating the Lessee’s liability
hereunder, and Lessee shall remain liable to pay the rent herein reserved, less the net amount realized from such reletting, after deduction of any expenses incident to such repossession and reletting. 

9. Damage or Destruction. 
 The fire and extended casualty insurance for the demised premises shall be the responsibility of the Lessor, to have the demised premises insured and pay for the cost of the insurance premiums.

 If the demised premises should be damaged or destroyed by fire or other cause, the Lessor, at its expense
with the approval of the Lessee shall promptly repair and restore the demised premises to substantially the same condition and configuration the demised premises were in prior to the damage or destruction. 

If the demised premises should be damaged or destroyed by fire or other cause, then the entire rents herein provided, or
a fair equitable portion thereof, shall be abated until such time as the demised premises are repaired and restored. The term of this lease shall be extended for a period equal to any period during which there has been a complete abatement of rent.

 If the demised premises should be damaged or destroyed by fire or other cause to such an extent that the
demised premises are rendered unusable and cannot reasonably be repaired as determined by the opinion of a qualified licensed architect or registered engineer mutually appointed by Lessor and Lessee, then Lessee, shall have the right and option to
cancel this lease by giving the Lessor notice of such election within thirty (30) days after the occurrence of such damage or destruction and this lease shall terminate not later than thirty (30) days after the date such notice is given,
with the specific date of termination to be at the Lessee’s option. 
 10. Transfer by Operation of Law. 

In event Lessee or any part thereof come into possession of any receiver, assignee, trustee in bankruptcy, sheriff, or
other officer, by and through any court process, or by operation of law, Lessor may at his option terminate this lease at any time thereafter by notice to said Lessee and may accept rent from such receiver, trustee, assignee or officer without
affecting or impairing his rights to terminate this lease at any time thereafter or impairing any other right of Lessor under this lease. 

 11. Eminent Domain. 

If a substantial portion of the premises are condemned or taken by any public authority under the power of eminent domain,
either Lessor or Lessee shall have the right as of the day possession shall be taken by such public authority to terminate this Lease by notice thereof to the other, in writing, and rent shall be paid to the date of such possession or proportionate
refund made by the Lessor if rent has been paid in advance. If neither party shall elect to terminate the Lease by reason of such condemnation, the rent shall be reduced by the proportion of the floor area of the premises taken by such condemnation,
and Lessor shall make all necessary repairs or alterations so as to constitute the remaining premises a complete architectural unit. All compensation awarded or paid for any taking or acquiring under the power or threat of eminent domain, whether
for the whole or a part of the Premise, shall be sole property of Lessor, whether such damages shall be awarded as compensation for diminution in the value to the leasehold or to the fee of the Premise or otherwide, and Lessee hereby assigns to
Lessor all of Lessee’s right, title and interest in and to any and all such compensation; provided, however, that Lessor shall not be entitled to any award specifically made to Lessee, for loss of business, taking of Lessee’s, (excluding
its interest under this Lease), to the extent of the cost to Lessee, less depreciation. 
 12. Alterations. 

Major alterations, additions or improvements to the demised premises shall be made by the Lessee without the prior written
consent of the Lessor which consent shall not be unreasonably withheld. The Lessor reserves the right, before approaching any such alterations, additions or improvements that require the Lessee to furnish to Lessor a good and sufficient bond,
conditioned that it will save Lessor harmless from the payment of any claims either by way of damages or liens. All of such alterations, additions or improvements shall be made solely at the expense of the Lessee, unless otherwise agreed, and Lessee
agrees to protect, indemnify and save harmless the Lessor on account of any injury to third person or property, by reason of any such alterations, additions or improvements, and to protect, indemnify and save harmless the Lessor from the payment of
any claim of any kind or character on account of bills for labor or material in connection therewith. 
 13. Lessor’s Inspection and
Notice to Relet. 
 The Lessor shall have access to the demised premises at all reasonable times for the
purposes of inspection or for making such improvements, repairs and alterations as Lessor may reasonably deem expedient, or for showing the premises to others. Furthermore, the Lessor may at any time within ninety (90) days preceding the
expiration of the term of this lease affix to any suitable part of the premises a notice for letting and keep the same affixed without hindrance or molestation. 
 14. Right on Default. 
 If the Lessee shall neglect
or fail to perform or observe any of the covenants contained herein, on Lessee’s part to be observed and performed, for thirty (30) days after notice by the Lessor of such breach, the Lessor may lawfully enter the premises or any part
thereof and repossess the same, and expel the Lessee and those claiming under and through Lessee and remove Lessee’w effects, without being deemed guilty of any manner of trespass and upon entry as aforesaid, this lease shall terminate and
shall wholly expire; provided, however, such cure period shall be only ten (10) days with respect to Lessee’s covenant to pay rent. The Lessee covenants that in case of such termination Lessee will indemnify the Lessor against all loss of
rent during the residue of the term fees, which the Lessor may incur by reason of such termination, less any rent received by the lessor in connection with the reletting of said premises. 

 15. Non-Waiver Clause. 

No waiver by Lessor of any default by Lessee shall be effective unless in writing or operate as a waiver of any other
default or of the same default on a future occasion. Lessor’s acceptance of rent shall not be deemed a waiver as to any proceeding default. 
 16. Lessor’s Remedies. 
 All remedies of Lessor
shall be cumulative to the full extent allowed by applicable law. No delay or omission on the part of Lessor in the exercise of any right or remedy shall operate as a waiver thereof, and no single or partial exercise by Lessor of any right or remedy
shall preclude other or further exercise thereof, or of any other right or remedy. 
 17. Holdover. 

It is agreed that a holding over beyond the expiration of the term herein specified shall operate as an extension of this
lease from month-to-month only, with the monthly rent increasing 125% with Lessee or Lessor to give thirty (30) days written notice at the end of any month to terminate the month-to-month extension. No holdover shall be permitted without the
written consent of the Lessor. 
 18. Light and Air. 

It is agreed that this lease does not grant a continuance of light and air over any property adjoining the leased
premises. 
 19. Lessor’s Non-Liability. 

It is agreed that the Lessor shall not be liable to the Lessee or any other person on the demised premises or in the
building by the Lessee’s consent, invitation or license, expressed or implied, for any damage either to person or property sustained by reason of the condition of said premises or building, or any part thereof, or arising from the bursting or
leaking of any water, gas, sewer, or steam pipes, or due to the act or neglect of any employee of the Lessor, or the act of any Co-Lessee or any occupant of said building or other person therein, or due to any casualty or accident in or about said
building unless resulting from the Lessor’s willful wrongful act or omission. 
 20. Lessee’s Liability. 

The Lessee agrees to be responsible for any damage to the property of the Lessor which may result from any use of the
demised premises or any act done thereon by the Lesse or any person coming or being thereon by the license of the Lessee, expressed or implied, and will also save the Lessor harmless from any liability to any other person for damage to person or
property resulting from any such causes, unless resulting from the Lessor’s willful wrongful act or omission. 
 21. Condition and
Maintenance. 
 Except as herein contained, no representations have been made as to the condition of the
demised premises. It is agreed that the cost of maintenance and repairs shall be borne, respectively, by the Lessor and/or the Lessee, except as defined paragraph 9, as follows: 

Maintenance Lessor: Lessor agrees to maintain the exterior of the leased premises (except as otherwise set forth
in this paragraph 21), including the exterior walls (and paint where applicable), foundations, roof, gutters, downspouts, underground water and sewage lines, structural elements of the improvements in good condition and repair during the term of
this lease, except to the extent that the acts or neglect of the Lessee or its employees, agents or invitees necessitates such repairs, which in event said damage shall be promptly repaired by Lessee, 

 Maintenance Lessee: The Lessee is satisfied with the conditions found
herein. Lessee agrees to maintain the interior of the demised premises in substantially the same condition as at the beginning of the term excepting only reasonable wear and tear arising from proper use thereof and shall make all necessary repairs
to keep the interior of the demised premises in such good order and condition. Lessee shall maintain and repair, when necessary, the air conditioning, plumbing, mechanical equipment, gas and electrical appurtenances and fixtures, and controls.
Lessee shall be responsible for the prompt replacement of any broken or cracked window glass, replacing said glass with the same size, thickness, quality and tint, any interior repairs, painting or decorating 29. 

22. Service and Utilities. 
 Lessee shall contract for and pay to have all utility services desired by Lessee connected to the demised premises. Lessee further agrees to contract for and pay all charges for electricity, gas, water,
sewer charges, communications equipment and any other utilities available to Lessee at the demised premises. It is specifically agreed that Lessor shall not be liable for any interruption in utility services to the Leased Premises, except as a
result of actions or negligence of lessor after 3 days of interrupted service. 
 23. Waste Removal. 

Lessee shall be responsible for the prompt removal of its own waste, trash and debris, by legal methods, and shall
promptly and strictly comply with all reasonable rules and regulations of Lessor, as well as all health, sanitary and other laws and ordinances in removing such waste from the demised premises. Lessee shall not allow its waste to be placed outside
the demised premises except on days of scheduled garbage or trash pickup, unless waste is held in an outside self-contained dumpster. 
 Lessee shall be responsible for the proper legal storage, removal and disposal of all “hazardous substances” as defined by 42 U.S.C. S9601 et. seq. and further agrees to indemnify and hold
Lessor harmless from all losses, costs, damages and expenses including reasonable attorney fees for which the Lessor may be legally liable by reason of Lessee’s use, storage removal and disposal of any “hazardous substances.” Lessee
further agrees to assume the conduct and costs for the defense of any action brought against the Lessor arising out of Lessee’s use, storage, removal and disposal of “hazardous substances.” Nothing in this paragraph 23 shall be
construed as changing the terms of paragraphs 2 or 6 herein or any other terms of this Lease or permitting anything to be done which by those terms is prohibited. 
 24. Compliance with Laws and Quiet Possession. 

Lessee shall comply with all statutes, ordinances, rules, orders, regulations and requirements of the federal, state,
county and city governments and all departments thereof, applicable to the demised premises. Lessor covenants and warrants that Lessee, on payment of rents and other sums due hereunder and the performance of all its covenants herein contained, shall
have the full and unrestricted use, possession and enjoyment of the demised premises during the term hereof, subject only to the provisions of paragraph 25 hereof. 
 25. Subordination. 
 This lease shall be subordinate
to any recorded or unrecorded mortgage lien(s) securing financing on the demised premises for the duration of this lease. If there is a default by the Lessor under any such mortgage, it shall not affect the tenancy of Lessee so long as the Lessee is
not in default hereunder. 
 26. Signs. 

 Lessor grants to Lessee the right to affix a sign on the sign scroll in
front of the demised premises. However, Lessor reserves the right to approve the type of sign or signs and Lessor shall not unreasonably withhold permission for approval. The sign must conform to the sign ordinance or rules applicable to signs by
appropriate governmental authority. No sign shall be painted on any part of the exterior walls, nor shall any sign or signs be erected on the roof of the building on the demised premises. At the expiration of tenancy, any signs so installed by
Lessee shall be removed from the building walls and/or from windows or doors, and any damage done shall be promptly repaired by Lessee, including the cost of sign removal and/or repainting over sign identification. 

27. Surrender of Premises. 
 Upon the termination of this Lease, Lessee shall, at Lessee’s sole cost, remove all trade fixtures, office furniture and equipment (excluding electric light fixtures) installed by Lessee unless
otherwise agreed to in writing by Lessor. Lessee shall also promptly repair any damage caused by such removal. Property not so removed shall be deemed abandoned by the Lessee at the termination of this Lease and title to the same shall thereupon
pass to Lessor except that the Lessor shall have the right to charge the Lessee for time, labor, machinery, trucking and dumping to remove Lessee’s abandoned property, and to place the subject Premises in the same broom clean condition that the
Premises were in at the time the Lessee first took possession of the subject Premises. Lessee shall indemnify the Lessor against any loss or liability resulting from delay by Lessee in so surrendering the premises, including without limitation, any
claims made against Lessor by any succeeding Lessee founded on such delay. 
 28. Waiver of Subrogation. 

The Lessor and the Lessee hereby release each other and each others’ Lessees and Sub-Lessees (and the employees,
agents, licensees, customers and invitees of each other and such Lessees and Sub-Lessees) from any and all claims and liability for any loss, damage or injury by reason of fire or other casualty which could be insured against under a standard fire
and extended coverage insurance policy issued on an all-risk basis including loss, damage or injury caused by negligence. 
 29A.
Preparation of Premises (Lessor). 
 Lessor agrees to deliver the premises in clean, secure condition.
All mechanical and electrical items including but without limitation heating, air-conditioning systems and plumbing shall be in good working order. 
 29B. Preparation of Premises (Lessee). 
 Lessee
agrees at its expense: None. 
 30. Real Estate Taxes. 

Lessee shall reimburse Lessor as additional rent for its proportionate share of any increase in Lessor’s annual real
estate taxes regardless of the cause of such tax increase over the amount of such taxes paid by Lessor in the year 2009. Lessee’s liability herein shall begin with the payment due for the taxes paid in 2010 and thereafter for the taxes paid for
the entire calendar year in the May and November installments, continuing each year thereafter so long as the Lessee, its successor or assigns, remains in the subject premises, including any lease renewals or holdovers. Lessee’s proportionate
share shall be based on the square footage of the demised premises to the total square footage of the Firehouse Complex. Lessee’s proportionate share is subject to change upon change in total square footage of the complex. 

The Lessee’s obligation, pursuant to this section shall become due and payable within thirty (30) days when
billed upon the submission to Lessee by Lessor consisting of a statement 

 showing the computations upon which Lessee’s payment obligation is based, together with
photostatic copies of all applicable tax bills. In regard to any change in the assessment, Lessor agrees to give Lessee written notice of the proposed tax assessments, whether tentative or final, levied or proposed to be levied against the building
and common facilities from time to time, promptly after receipt by Lessor of notice thereof. If Lessor elects not to contest such taxes, Lessor shall promptly notify Lessee thereof and thereafter Lessee, at its option and expense (and in the name of
Lessor, if applicable law requires), may appropriately proceed to contest in good faith such taxes. Lessor shall cooperate with Lessee in such contest. 
 31. Attorney’s Fees. 
 Each party shall pay the
other party’s reasonable legal costs and attorney’s fees incurred in successfully enforcing against the other party any covenant, term or condition of this lease. 
 32. Parking. 
 Lessee and the employees of the Lessee
shall use the parking areas as highlighted in red on Exhibit ‘B’ attached. 
 33. Lessee and Lessor’s insurance
obligations. 
 The Lessee shall carry Public Liability and Property Damage Insurance in amounts of not
less than $1,000,000 for combined Bodily Injury and Property Damage Insurance. 
 Lessee shall furnish the
Lessor with a Certificate of such insurance naming the Lessor an additional insured, said Certificate to be submitted to Lessor no later than five (5) days from the commencement date of this lease. 

The Lessor shall carry Public Liability and Property Damage Insurance in amounts of not less than $1,000,000 for combined
Bodily Injury and Property Damage Insurance. 
 34. Notices. 

All notices to be given hereunder by either party shall be in writing and given by personal delivery to Lessor or the
Lessee, or shall be sent by United States Certified or Registered Mail addressed to the party intended to be notified at the post office address of such party designated below or at such other address as may be designated by notice hereunder, and
notice given as aforesaid shall be a sufficient service thereof and shall be deemed given as of the date when received. 
 35.
Construction. 
 It is understood that the term Lessor and Lessee, used herein, shall be construed to
mean Lessors and Lessees where there is more than one, and the necessary grammatical changes required to make the provisions hereof apply either to corporations or individuals, men or women shall in all cases be assumed as though fully expressed.

 36. Binding Effect. 
 The covenants and agreements contained herein are binding upon the parties hereto and their respective heirs, executors, administrators, successors, legal representatives and assigns. 

37. Partial Invalidity. 
 In the event that any of the provisions of this lease shall contravene or be held invalid under the laws of the particular state, county or jurisdiction where used, such contravention or invalidity shall
not invalidate the whole agreement, but it shall be construed as if not containing the particular provision of provisions held to be invalid, and the rights and obligations of the parties shall be construed and enforced accordingly. 

 38. Applicable Law. 

The validity, construction and enforcement of this agreement shall be governed by and construed in accordance with the
laws of the State of Indiana. 
 39. Memorandum of Lease. 

Upon request of either party hereto, the parties hereto shall execute and acknowledge for recording a Memorandum of Lease.
The party requesting the Memorandum of Lease, and recording thereof, shall pay the cost of such preparation and recording. 
 40. Common
Area Maintenance. 
 Lessee agrees during the term of this Lease to contribute annually to a “Common
Area Maintenance Fund” (CAM). This CAM Fund shall be collected, disbursed and administered by Lessor for maintenance, cleaning and repair of the parking areas, maintenance, planting and upkeep of the landscaping and for such other items or
services as may, in the judgment of Lessor, benefit the Lessee. Common area charges will be assessed on the parking areas associated with the following buildings, the tile building, the penthouse, the carriage house and the firehouse. For snow
removal on the properties covered by the parking lot lease please refer to paragraph 40. It being understood that the judgment of the Lessor in administering such funds shall be final so long as it is exercised in good faith. Lessee agrees to pay
it’s prorata share based upon the ratio of the total area in the Demised Premises to the total square footage of the buildings known as the Firehouse Complex. 
 41. Common Facilities. 
 They are highlighted in
yellow on Exhibit ‘B’ hereunto attached, common facilities showing the location of the parking areas, driveways and other public areas, provided that such areas shall at all times by subject to the control and management of Lessor and
Lessor shall have the right to establish and modify from time to time and to enforce reasonable rules and regulations with respect to the use of all such areas. Lessee agrees to abide by such rules and regulations and to cooperate with Lessor in
instructing its employees and invitees to comply therewith for the mutual benefit and convenience of all concerned. 
 42. Lessee’s
Option to Renew. 
 Intentionally deleted. 

 WITNESS the signatures and seals of the above parties the day and year first
written. 
 Signed, sealed and delivered in the presence of 

 

					
	      Henry Amalgamated LLC
      (Lessor)

			
		 	By:	 	 /s/ Karl Northern

		 	Printed: 	 	 Karl Northern

		 	Title:	 	 Co-Owner

  

					
	      Brownstone Publishing, LLC
      (Lessee)

			
		 	By:	 	 /s/ Thomas Harvey

		 	Printed: 	 	 Thomas Harvey

		 	Title:	 	 CFO

  

			
	 Address of Lessor:
	  	Address of Lessee:
	 1002 E. Washington St, Suite 300
	  	1002 E. Washington Street, Suite 300
	 Indianapolis, IN 46202
	  	Indianapolis, IN 46202

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