Document:

Exhibit

Exhibit 10.5

EIGHTH AMENDMENT TO OFFICE/RETAIL LEASE
This EIGHTH AMENDMENT TO OFFICE/RETAIL LEASE (this "Eighth Amendment") is dated for reference purposes only as of May 30, 2014 (the "Effective Date" or "ED"), by and between KBSII 445 SOUTH FIGUEROA, LLC, a Delaware limited liability company ("Landlord"), and UNION BANK, N.A., a national banking association, formerly known as Union Bank of California, N.A. ("Tenant").

R E C I T A L S:

A.    Hines VAF UB Plaza, L.P., a Delaware limited partnership, as landlord (the "Original Landlord"), and Tenant, as tenant, entered into that certain Office/Retail Lease dated as of October 8, 2008 (the "Original Lease"), pursuant to which Landlord leased to Tenant and Tenant leased from Landlord that certain space as more particularly described in the Lease (the "Original Premises") in that certain building located at 445 South Figueroa Street, Los Angeles, California 90071.
B.    Original Landlord and Tenant entered into that certain First Amendment to Office/Retail Lease dated as of November 17, 2008 (the "First Amendment"), pursuant to which the parties (i) expanded the Original Premises to include the 28th Floor Expansion Space, and (ii) otherwise modified the terms of the Original Lease, all as more particularly described in the First Amendment.
C.    Original Landlord and Tenant entered into that certain Second Amendment to Office/Retail Lease dated as of July 10, 2009 (the "Second Amendment"), pursuant to which the parties (i) expanded the Original Premises and the 28th Floor Expansion Space to include the Second Amendment Expansion Space, and (ii) otherwise modified the terms of the Original Lease and the First Amendment, all as more particularly described in the Second Amendment.
D.    Original Landlord and Tenant entered into that certain Third Amendment to Office/Retail Lease dated as of April 14, 2010 (the "Third Amendment"), pursuant to which the parties modified certain of the terms of the Original Lease, the First Amendment and the Second Amendment, all as more particularly described in the Third Amendment.
E.    Original Landlord and Tenant entered into that certain Fourth Amendment to Office/Retail Lease dated as of August 10, 2010 (the "Fourth Amendment"), pursuant to which the parties (i) expanded the Original Premises, the 28th Floor Expansion Space and the Second Amendment Expansion Space to include the 35th Floor Expansion Space, and (ii) otherwise modified the terms of the Original Lease, the First Amendment, the Second Amendment and the Third Amendment, all as more particularly described in the Fourth Amendment.
F.    Landlord and Tenant entered into that certain Fifth Amendment to Office/Retail Lease dated as of October 31, 2010 (the "Fifth Amendment"), pursuant to which the parties modified certain of the terms of the Original Lease, the First Amendment, the Second Amendment, the Third Amendment and the Fourth Amendment, all as more particularly described in the Fifth Amendment.
G.    Landlord and Tenant entered into that certain Sixth Amendment to Office/Retail Lease dated as of February 15, 2011 (the "Sixth Amendment"), pursuant to which the parties converted certain visitor parking spaces into reserved parking spaces, all as more particularly described in the Sixth Amendment.
H.    Landlord and Tenant entered into that certain Seventh Amendment to Office/Retail Lease dated as of November 14, 2012 (the "Seventh Amendment"), pursuant to which the parties (i) expanded

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the Existing Premises to include the 34th Floor Expansion Space, and (ii) otherwise modified the terms of the Original Lease, the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment and the Sixth Amendment, all as more particularly described in the Seventh Amendment.
I.    The Original Lease, First Amendment, Second Amendment, Third Amendment, Fourth Amendment, Fifth Amendment, Sixth Amendment, and Seventh Amendment are collectively referred to herein as the "Lease." The Original Premises, 28th Floor Expansion Space, Second Amendment Expansion Space, 35th Floor Expansion Space, and 34th Floor Expansion Space are sometimes collectively referred to herein as the "Existing Premises." Landlord is the successor-in-interest to Original Landlord as "Landlord" under the Lease.
J.    Capitalized terms which are used in this Eighth Amendment without definition have the meanings given to them in the Lease.
K.    The parties now desire to amend the terms of the Lease to (i) expand the Existing Premises by 24,475 rentable square feet to include that certain space containing approximately 16,354 rentable square feet known as Suite 2700 and comprising the entire rentable area of the twenty-seventh (27th) floor of the Building, as depicted on Exhibit A attached hereto, and that certain space containing approximately 8,121 rentable square feet known as Suite 2600 on the twenty-sixth (26th) floor of the Building, as depicted on Exhibit A-1 attached hereto (the "Suite 2600 and 2700 Expansion Space"); and (ii) otherwise modify the Lease, all upon the terms and conditions hereinafter provided.

A G R E E M E N T :

NOW, THEREFORE, in consideration of the foregoing Recitals, the mutual covenants and agreements contained in this Eighth Amendment and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
1.    Expansion of Existing Premises. The "Premises" leased by Tenant under the Lease shall be expanded and redefined to include the Suite 2600 and 2700 Expansion Space for the period (the "Suite 2600 and 2700 Lease Term") commencing upon the Effective Date (the "Suite 2600 and 2700 Commencement Date") and expiring on January 31, 2022 (the "Suite 2600 and 2700 Expiration Date"). This Eighth Amendment will go into effect when executed by Landlord and Tenant, but Tenant will not have to pay Rent for the Suite 2600 and 2700 Expansion Space until the Rent Commencement Date, as defined and qualified in Section 7(b) and Section 10 of Exhibit B, and the Suite 2600 and 2700 Expansion Space shall be leased on the same terms and conditions set forth in the Lease, subject to the modifications set forth in this Eighth Amendment. Landlord and Tenant hereby agree and have verified that the rentable area of the Suite 2600 and 2700 Expansion Space (as set forth in Recital K above) has been calculated in accordance with 1996 BOMA, and is not subject to adjustment or re-measurement by Landlord or Tenant. Notwithstanding the expansion and redefinition of the Premises to include the Suite 2600 and 2700 Expansion Space as provided hereinabove:
(a)    To avoid confusion, the parties specifically agree that the provisions of Sections 4.3.4 and 14.7 of the Original Lease shall continue to be applicable to the Suite 2600 and 2700 Expansion Space;
(b)    Tenant shall not have any right to terminate the Lease as amended by this Eighth Amendment (the "Amended Lease") with respect to the entire Premises pursuant to Sections 11.2, 13.1 or 19.7.2 of the Original Lease (and Landlord shall not have such termination right with respect to the entire Premises pursuant to Sections 11.2 or 13.1 of the Original Lease) in the

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event of any casualty damage, condemnation or Abatement Event, respectively, that pertains only to the Suite 2600 and 2700 Expansion Space, but each party shall retain their respective termination rights to terminate the Amended Lease as to the Suite 2600 and 2700 Expansion Space, only, if and to the extent such casualty damage, condemnation or Abatement Event affects such applicable space and otherwise satisfies the requirements for termination as set forth in Sections 11.2, 13.1 and/or 19.7.2, respectively, of the Original Lease.
(c)    The Permitted Use for the Suite 2600 and 2700 Expansion Space shall be limited to Office Space Permitted Use, only; and
(d)    Tenant shall not be entitled to exercise (A) Tenant's options to renew the Lease Term pursuant to Section 2.2 of the Original Lease with respect to the Suite 2600 and 2700 Expansion Space, or (B) Tenant's option to terminate the Lease pursuant to Section 2.4 of the Original Lease with respect to the Suite 2600 and 2700 Expansion Space, it being understood that such options to renew and terminate shall not apply to Suites 2600 and 2700, but Tenant may renew pursuant to Section 7 below.
2.    Condition of Suite 2600 and 2700 Expansion Space. Except as specifically set forth in this Eighth Amendment and in the Work Letter attached as Exhibit B hereto, Tenant shall accept the Suite 2600 and 2700 Expansion Space and the Building, including the base, shell, and core of (i) the Suite 2600 and 2700 Expansion Space, and (ii) the floor of the Building on which the Suite 2600 and 2700 Expansion Space is located (collectively, the "Base, Shell, and Core") in their "AS-IS" condition as of the Suite 2600 and 2700 Commencement Date and Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Suite 2600 and 2700 Expansion Space. Tenant also acknowledges that Landlord has made no representation or warranty regarding the condition of the Suite 2600 and 2700 Expansion Space, the Building or the Real Property except as specifically set forth in this Eighth Amendment and the Work Letter. Pursuant to Section 1938 of the California Civil Code, Landlord hereby advises Tenant that as of the date of this Eighth Amendment neither the Suite 2600 and 2700 Expansion Space nor the Building has undergone inspection by a Certified Access Specialist. Landlord represents to Tenant that, notwithstanding the foregoing, prior to delivery of the Suite 2600 and 2700 Expansion Space to Tenant, Landlord shall abate, including by encapsulating if necessary, all existing asbestos containing materials ("ACM") from all of the Suite 2600 and 2700 Expansion Space located on the twenty-sixth (26th) floor and twenty-seventh (27th) floor ("Landlord's Work").
3.    Contingency. Notwithstanding the foregoing, Tenant hereby expressly acknowledges and agrees that an existing third-party tenant (the "Existing Tenant") is currently occupying a portion of the Suite 2600 and 2700 Expansion Space located on the twenty-seventh (27th) floor of Premises (the "27th Floor Space") and is scheduled to vacate and surrender the 27th Floor Space to Landlord on or before October 31, 2014, and Landlord will not be able to commence Landlord's Work and deliver the Suite 2600 and 2700 Expansion Space to Tenant until after the Existing Tenant vacates and surrenders the 27th Floor Space to Landlord. Landlord agrees not to consent to the Existing Tenant's holdover in the 27th Floor Space and not to extend the term of the lease for the space occupied by the Existing Tenant and Landlord shall institute unlawful detainer proceedings against the Existing Tenant if such Existing Tenant does not vacate such space by December 1, 2014. Notwithstanding anything to the contrary contained in this Eighth Amendment, but subject to Landlord complying with Section 7(a) of Exhibit B, in no event shall Landlord be in default or breach, nor liable for damages hereunder, if the Existing Tenant fails to timely deliver the 27th Floor Space to Landlord and such delay delays completion of Landlord's Work and delivery of the 27th Floor Space to Tenant.

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4.    Base Rent. Base Rent for the Suite 2600 and 2700 Expansion Space shall be calculated separate and apart from the Base Rent payable for the Original Premises, the 28th Floor Expansion Space, the Second Amendment Expansion Space, the 34th Floor Expansion Space and the 35th Floor Expansion Space during the Suite 2600 and 2700 Lease Term. Effective as of the Rent Commencement Date (as defined and qualified in Sections 7(b) and 10 of the Work Letter), Base Rent for the Suite 2600 and 2700 Expansion Space shall be as set forth in the following schedule:
	
							
	Months/Period
Commencing on the
Rent Commencement Date
	 
	Annual 
Base Rent
	 
	Monthly
Installments
of Base Rent
	 
	Annual
Rental Rate per
Rentable Square Foot

	1 – 12*
	 
	$881,100.00
	 
	$73,425.00
	 
	$36.00

	13 – 24
	 
	$907,533.00
	 
	$75,627.75
	 
	$37.08

	25 – 36
	 
	$934,700.25
	 
	$77,891.69
	 
	$38.19

	37 – 48
	 
	$962,846.50
	 
	$80,237.21
	 
	$39.34

	49 – 60
	 
	$991,727.00
	 
	$82,643.92
	 
	$40.52

	61 – 72
	 
	$1,021,341.75
	 
	$85,111.81
	 
	$41.73

	73 until the
Lease Termination Date
	 
	$1,052,180.25
	 
	$87,681.69
	 
	$42.99

*Gross Base Rent shall be prorated for any partial month in which the Rent Commencement Date occurs.
Notwithstanding the foregoing, Landlord hereby agrees to abate in full Tenant's obligation to pay the Base Rent and Direct Expenses due during the second (2nd) through eighth (8th) full calendar months starting on the first day of the first full month following the Rent Commencement Date (the "Abatement Months") (such amount of abated Base Rent and Direct Expenses being hereinafter collectively referred to as the "Abated Amount"). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease. 
The anticipated Rent Commencement Date of May 1, 2015 shall be extended one (1) day for each day Tenant is actually delayed in designing, permitting and constructing its Tenant Improvements in, and moving into, Suite 2600 and Suite 2700 because of Landlord Delays or Force Majeure Events as set forth in Exhibit B but not beyond the date Tenant commences business operations from Suite 2600 and Suite 2700 but in no event will the Rent Commencement Date occur earlier than May 1, 2015.
5.    Tenant's Share. During the Suite 2600 and 2700 Lease Term, Tenant's Share of increases in Direct Expenses for the Suite 2600 and 2700 Expansion Space and Tenant's obligations to pay Tenant's Share of increases in Direct Expenses for the Suite 2600 and 2700 Expansion Space shall be calculated and billed to Tenant separate and apart from the Existing Premises and shall be equal to 4.029% (calculated by dividing 24,475 rentable square feet within the Suite 2600 and 2700 Expansion Space by 607,517 rentable square feet in the Building [excluding the existing retail portion of the Real Property located outside the retail/office tower portion of the Building]).
6.    Annual Direct Expense Allowance. The Annual Direct Expense Allowance for the Suite 2600 and 2700 Expansion Space shall be the amount of Direct Expenses for the calendar year 2015 calculated in accordance with Section 4.2 of the Original Lease. Provided, however, under no circumstances will Tenant be required to pay for Direct Expenses for the first twelve (12) months following the Rent Commencement Date.

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7.    Option to Extend.

7.1    Extension Options. Provided Tenant is not in default under Section 19.1 of the Amended Lease on either the date of Tenant giving an Extension Notice (defined below) or on the commencement date of the relevant Option Term (each an "Option Term Commencement Date"), Tenant shall have two (2) options to extend the Suite 2600 and 2700 Lease Term (each an "Extension Option") beyond the Lease Expiration Date for an additional period of five (5) years each (each, an "Option Term"). The applicable Extension Option shall be exercisable by Tenant giving written exercise notice thereof ("Extension Notice") to Landlord a minimum of nine (9) months, but not more than twelve (12) months, prior to the expiration of the then current Suite 2600 and 2700 Lease Term.
7.1.1    If Tenant elects to exercise an Extension Option, such Extension Option must be exercised as to the entire Suite 2600 and 2700 Expansion Space collectively, or as to either of the entire Suite 2600 or as to the entire Suite 2700 space as then leased by Tenant under the Amended Lease as of the date Tenant delivers Tenant's Extension Notice to Landlord.
7.1.2    The Base Rent payable hereunder for the Suite 2600 and 2700 Expansion Space during each Option Term shall be adjusted as of each Option Term Commencement Date to an amount equal to the Fair Market Rental Rate for the Suite 2600 and 2700 Expansion Space at that time, calculated on a per rentable square foot basis and multiplied by the number of rentable square feet of the Suite 2600 and 2700 Expansion Space. The Fair Market Rental Rate for each Option Term shall be determined in accordance with the provisions and the time line set forth in Section 7.2 below.
7.1.3    Tenant shall pay Additional Rent during each of the Option Terms as to which an Extension Option is exercised, in accordance with the provisions of the Amended Lease, subject to the adjustment in the Base Year, if any, determined in connection with the determination of the Fair Market Rental Rate under Section 7.2 below.
7.1.4    Each Extension Option set forth in this Section 7.1 is personal to the Original Tenant and any Affiliate to which such Extension Option has been assigned, and may not be assigned, transferred or conveyed to, or exercised by, any other party.
7.2    Fair Market Rental Rate.
7.2.1    Exclusive Procedure. The Fair Market Rental Rate for the Option Terms and for any Right of First Offer shall be determined pursuant to the provisions of this Section 7.2. Tenant and Landlord shall have no further right to appraisal and shall be obligated to accept the rate as determined hereby.
7.2.2    Definition. The phrase "Fair Market Rental Rate" shall mean the fair market value annual rental rate per square foot of rentable area as defined, conditioned and determined in accordance with Sections 2.3.2 and 2.3.3 of the Original Lease.
8.    Right of First Offer .
8.1    Grant of Option; Conditions. Tenant shall have an ongoing right of first offer to lease (the "Right of First Offer") any separately demised space on the twenty-sixth (26th) floor of the Building (the "ROFO Space"). Tenant's Right of First Offer shall be exercised as follows: within thirty (30) days after Landlord has determined that an existing tenant in all or any portion

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of the ROFO Space will not extend or renew the term of its lease for such portion of the ROFO Space (but prior to leasing such ROFO Space to a party other than the existing tenant), Landlord shall deliver written notice to Tenant (the "ROFO Notice") of the terms under which Landlord is prepared to lease such portion of the ROFO Space to Tenant for the remainder of the Suite 2600 and 2700 Lease Term, which terms shall reflect the Fair Market Rental Rate (as defined in Section 7.2.2 above) for such ROFO Space as reasonably determined by Landlord and taking into account the then remaining length of the Suite 2600 and 2700 Lease Term. Tenant may lease such ROFO Space in its entirety only, and for the remainder of the Suite 2600 and 2700 Lease Term only, under such terms, by delivering written notice of exercise to Landlord (the "Notice of Exercise") within five (5) days after the date of the ROFO Notice, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with a ROFO Notice, if:
8.1.1    Tenant is in default under Section 19.1 of the Lease at the time that Landlord would otherwise deliver the ROFO Notice; or
8.1.2    Intentionally omitted; or
8.1.3    the Lease has been assigned (other than pursuant to a Permitted Transfer as set forth in Section 14.7 of the Lease) prior to the date Landlord would otherwise deliver the ROFO Notice; or
8.1.4    Tenant and/or an Affiliate is occupying less than eighty-five percent (85%) of the rentable area of the Premises inclusive of the Suite 2600 and 2700 Expansion Space (not including any portion of the Suite 2600 and 2700 Expansion Space recaptured by Landlord pursuant to the Amended Lease), on the date Landlord would otherwise deliver the ROFO Notice; or
8.1.5    Tenant and/or an Affiliate does not intend to use the ROFO Space for Tenant's and/or an Affiliate's exclusive use during the Suite 2600 and 2700 Lease Term; or
8.1.6 Intentionally omitted.
8.2    Terms for ROFO Space.
8.2.1    The term for the ROFO Space shall commence upon the commencement date stated in the ROFO Notice and shall terminate coterminously with the Term of the Lease for the Suite 2600 and 2700 Expansion Space. Upon the commencement date stated in the ROFO notice, such ROFO Space shall be considered a part of the Suite 2600 and 2700 Expansion Space, provided that all of the terms stated in the ROFO Notice shall govern Tenant's leasing of the ROFO Space and only to the extent that they do not conflict with the ROFO Notice, the terms and conditions of the Amended Lease shall apply to the ROFO Space.
8.2.2    Tenant shall pay Base Rent and Rent for the ROFO Space in accordance with the terms and conditions of the ROFO Notice, which terms and conditions shall reflect the Fair Market Rental Rate for the ROFO Space as determined in Landlord's reasonable judgment.
8.2.3    The ROFO Space (including improvements and personalty, if any) shall be accepted by Tenant in its condition and as-built configuration existing on the earlier of the date Tenant takes possession of the ROFO Space or as of the date the term for such ROFO Space commences, unless the ROFO Notice specifies any work to be performed by Landlord in the ROFO Space, in which case Landlord shall perform such work in the ROFO Space. If Landlord

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is delayed delivering possession of the ROFO Space due to the holdover or unlawful possession of such space by any party, Landlord shall use reasonable efforts to obtain possession of the space, and the commencement of the term for the ROFO Space shall be postponed until the date Landlord delivers possession of the ROFO Space to Tenant free from occupancy by any party.
8.3    Termination of Right of First Offer. The rights of Tenant hereunder with respect to all ROFO Space shall terminate on (i) the date that is twenty-four (24) months prior to the Lease Expiration Date as such date may be extended if Tenant exercises its Option To Extend under Section 7 above; or (ii) the date Landlord would have provided Tenant a ROFO Notice if Tenant had not been in default under Section 19.1 of the Lease.
8.4    ROFO Amendment. If Tenant exercises its Right of First Offer, Landlord shall prepare an amendment (the "ROFO Amendment") adding the ROFO Space to the Suite 2600 and 2700 Expansion Space on the terms set forth in the ROFO Notice and reflecting the changes in the Base Rent, rentable square footage of the Suite 2600 and 2700 Expansion Space, Tenant's Share and other terms that the parties mutually agree are appropriate. A copy of the ROFO Amendment shall be sent to Tenant within a reasonable time after Landlord's receipt of the Notice of Exercise executed by Tenant, and Tenant shall execute and return the ROFO Amendment to Landlord within fifteen (15) days thereafter, but an otherwise valid exercise of the Right of First Offer shall be fully effective whether or not the ROFO Amendment is executed.
8.5    Rights Personal. The Right of First Offer is personal to the Original Tenant and any Affiliate to which such Right of First Offer has been assigned, and may not be assigned, transferred or conveyed to, or exercised by, any other party.
8.6    Ongoing Right. If Tenant does not exercise its Right of First Offer, then Landlord may request in writing as to whether (a) Tenant has no interest in leasing the ROFO Space at any lease rate or (b) Tenant would be interested in leasing the ROFO Space if the lease rate were less than 95% of the rate contained in the ROFO Notice Premises. If Tenant shall respond as provided in subpart (a), Landlord shall be free to lease the ROFO Space on any terms acceptable to Landlord. If Tenant responds as provided in subpart (b), Landlord may not lease all or any part of the space designated in the ROFO Notice on terms that are less than 95% if the terms set forth in the ROFO Notice without first reoffering such space to Tenant in accordance with this Section 8.
9.    Additional and Current Tenant Signs. Landlord shall provide to Tenant, at Tenant's sole cost and expense Building standard suite entry and directory board identity signs identifying the name of Tenant and/or any Affiliate occupying the Suite 2600 and 2700 Expansion Space. In addition to the foregoing, provided that Tenant is not in default under Section 19.1 of the Lease and Tenant or an Affiliate occupies no less than eighty-five (85%) of the Suite 2600 and 2700 Expansion Space, and subject to Landlord's prior reasonable approval, rights of existing tenants, the sign criteria for the Building, all covenants, conditions, and restrictions affecting the Project and all applicable laws, rules, regulations, and local ordinances, and subject to Landlord or Tenant obtaining all necessary permits and approvals from the City of Los Angeles, Tenant shall also have the non-exclusive right, at Tenant's sole cost and expense, to have its name and/or its Affiliate's name placed on one panel of the monument sign for the Building located adjacent to Fifth Street ("Monument Sign"), provided Tenant shall not have the right to have two (2) panels on the Monument Sign bearing the same name (i.e., must be two different names), Tenant acknowledging that Tenant already has one sign panel on the Monument sign for its own name. The location of Tenant's Affiliate's panel on the Monument Sign will be determined by Landlord. Tenant shall be solely responsible for payment of all costs and expenses arising from the Building Sign and Tenant's panel on the Monument Sign, including, without limitation, all design, fabrication and

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permitting costs, license fees, installation, maintenance, repair and removal costs. Tenant is granted the right at its sole cost and expense to change all of its signage as necessary to reflect any new name, logo, lettering or coloring of its name or the name of its Affiliate. 
Landlord shall maintain and repair all of Tenant's signs at Tenant's expense. Upon the expiration or earlier termination of the Amended Lease, Landlord shall, at Tenant's sole cost and expense (except as otherwise set forth hereinabove or in the Lease), (i) cause all of Tenant's signs to be removed from the exterior and interior of the Building and the Common Areas, (ii) repair any damage caused by the removal of Tenant's signs, and (iii) restore the underlying surfaces to the condition existing prior to the installation of Tenant's signs. 
The sign rights granted herein are personal to the original Tenant and any Affiliate (subject to the limitations expressed herein), and may not be assigned, voluntarily or involuntarily, to any person or entity except as permitted by Article 23 of the Lease. The rights granted to the original Tenant hereunder are not assignable separate and apart from the Lease, nor may any right granted herein be separated from the Lease in any manner, either by reservation or otherwise, except as permitted by Article 23 of the Lease.
10.    Tenant Parking. Tenant shall have the right, but not the obligation, to rent, on a monthly basis throughout the Suite 2600 and 2700 Lease Term, twenty-four (24) unreserved parking privileges in the Building Parking Area. All of the parking privileges leased by Tenant pursuant to this section shall be provided by Landlord, or at the option of Landlord, by a parking operator designated by Landlord (the "Operator"). Tenant shall pay to Landlord (or to the Operator) for the use of such parking privileges so leased by Tenant pursuant to this section, on a monthly basis throughout the Suite 2600 and 2700 Lease Term, the prevailing monthly parking rates charged from time to time by Landlord (or the Operator) for unreserved parking privileges within the Building Parking Area (plus applicable parking taxes). The current rate for reserved parking spaces is Four Hundred Three and 76/100 Dollars ($403.76) per space per month and the current rate for unreserved parking spaces is Two Hundred Eighty-Eight Dollars and 40/100 ($288.40) per space per month
11.    Non-Disturbance. Concurrently with Landlord's execution of this Lease and delivery of a signed counterpart to Tenant, Landlord shall deliver to Tenant a letter from Landlord's lender in form reasonably satisfactory to Tenant pursuant to which Landlord's lender will acknowledge that the existing subordination, non-disturbance and attornment agreement ("SNDA") previously executed by Landlord, Tenant and Landlord's lender remains in full force and effect and applies to the Lease as previously amended including as amended by this Eight Amendment.
12.    Brokers. Landlord and Tenant each hereby represents and warrants to the other that it has had no dealings with any real estate broker or agent in connection with the negotiation of this Eighth Amendment other than Jones Lang LaSalle, representing Landlord, and Cassidy Turley, representing Tenant (collectively, the "Brokers"), and that it knows of no other real estate broker or agent who is entitled to a commission in connection with this Eighth Amendment. Landlord and Tenant shall indemnify, defend and hold the other harmless from any and all claims, demands, losses, liabilities, lawsuits, judgments and costs and expenses (including, without limitation, reasonable attorneys' fees) with respect to any leasing commission, compensation or fees claimed by any broker or agent (other than the Brokers) in connection with this Eighth Amendment or its negotiation by reason of any act of the indemnifying party.
13.    Authority. Each signatory of this Eighth Amendment on behalf of Tenant and Landlord represents hereby that he or she has the authority to execute and deliver the same on behalf of the party hereto for which such signatory is acting.

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14.    Affiliate. Notwithstanding anything in the Lease to the contrary, the term "Affiliate" shall be deemed to also include any entity under the control of, or under the common control of, Mitsubishi UFJ Financial Group, Inc.
15.    No Other Modification. Landlord and Tenant agree that except as otherwise specifically modified in this Eighth Amendment, the Lease has not been modified, supplemented, amended, or otherwise changed in any way and the Lease remains in full force and effect between the parties hereto as modified by this Eighth Amendment. To the extent of any inconsistency between the terms and conditions of the Lease and the terms and conditions of this Eighth Amendment, the terms and conditions of this Eighth Amendment shall apply and govern the parties. This Eighth Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which, together, shall constitute one and the same Amendment.
16.    Notices. All notices to be provided to Tenant pursuant to the Lease shall be delivered to the following addresses:
Union Bank c/o CBRE, Inc.
Portfolio Administration Services
5100 Poplar Avenue, Suite 1000
Memphis, TN 38137
With a copy to:
Union Bank, N.A.
Office of General Counsel
400 California Street, 16th Floor
San Francisco, CA 94104
With a copy to:
Union Bank-Corporate Real Estate
Real Estate Manager (MC H-1RE)
350 California Street, Mezzanine
San Francisco, CA 94104
17.    SDN List. Landlord and Tenant each hereby represent and warrant that neither party nor any officer, director, employee, partner, member or other principal of such party is listed as a Specially Designated National and Blocked Person ("SDN") on the list of such persons and entities issued by the U.S. Treasury Office of Foreign Assets Control ("OFAC").
[NO FURTHER TEXT ON THIS PAGE; SIGNATURES ON FOLLOWING PAGE]

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IN WITNESS WHEREOF, the parties have executed this Eighth Amendment as of the date set forth above.

TENANT:

UNION BANK, N.A.,
a national banking association

		
	By:
	/s/ Larry W. Lawrence

		
	Name:
	Larry W. Lawrence

		
	Title:
	Senior Vice President Corporate Real Estate Union Bank, N.A.

		
	By:
	/s/ Cynthia C. Rock

		
	Name:
	Cynthia C. Rock

		
	Title:
	Senior Vice President Corporate Real Estate Union Bank, N.A.

LANDLORD:
KBSII 445 SOUTH FIGUEROA, LLC,
a Delaware limited liability company

		
	By:
	KBS Capital Advisors, LLC, a

Delaware limited liability company,
its authorized agent

		
	By:
	/s/ Tim Helgeson

		
	Name:
	Tim Helgeson

		
	Its:
	SVP

June 5, 2014

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EXHIBIT A
DEPICTION OF SUITE 2700

EXHIBIT A-1
DEPICTION OF SUITE 2600

EXHIBIT "B"
WORK LETTER
[TENANT BUILD W/ALLOWANCE]
1.    TENANT IMPROVEMENTS. As used in the Eighth Amendment and this Work Letter, the term "Tenant Improvements" or "Tenant Improvement Work" or "Tenant's Work" means those items of general tenant improvement construction shown on the Final Plans (described in Section 4 below), more particularly described in Section 5 below.
2.    DESIGN PROBLEM AND APPROVED TIME PERIODS. Landlord agrees that the Space Plans and Final Plans, as defined in Sections 4(a) and 4(b) below, may be submitted at one or more times and in one or more parts, each time by notice to Landlord, and that Landlord will (x) not withhold its consent to each submission except to the extent a Design Problem, as defined in Section 8.1 of the Original Lease, exists and (y) shall respond to each request for approval within ten (10) days of receipt of notice requesting such consent or approval. Prior to commencing construction, Tenant will deliver to Landlord, for Landlord's review and approval, a schedule ("Work Schedule"), which will set forth the timetable for the planning and completion of the installation of the Tenant Improvements.
3.    CONSTRUCTION REPRESENTATIVES. Landlord hereby appoints the following person(s) as Landlord's representative ("Landlord's Representative") to act for Landlord in all matters covered by this Work Letter: Charles Stennett. Tenant hereby appoints the following person(s) as Tenant's representative ("Tenant's Representative") to act for Tenant in all matters covered by this Work Letter: Heather Sturtz. All communications with respect to the matters covered by this Work Letter are to be made to Landlord's Representative or Tenant's Representative, as the case may be, in writing in compliance with the notice provisions of the Lease. Either party may change its representative under this Work Letter at any time by written notice to the other party in compliance with the notice provisions of the Lease.
4.    TENANT IMPROVEMENT PLANS.
(a)    Preparation of Space Plans. Landlord agrees to meet with Tenant's architect and/or space planner for the purpose of promptly reviewing preliminary space plans for the layout of the Suite 2600 and 2700 Expansion Space prepared by Tenant and for improvements (the "Common Improvements") to the men's and women's building standard restrooms on the 26th and 27th floors and in constructing a building standard corridor on the 26th floor which shall conform to Landlord's new building standard restroom, elevator lobby and corridor 37th floor plans (collectively, the "Space Plans"). The Space Plans are to be sufficient to convey the architectural design of the Suite 2600 and 2700 Expansion Space and Common Improvements and layout of the Tenant Improvements therein and are to be submitted to Landlord by notice in accordance with the Lease. If Landlord disapproves any aspect of the Space Plans because a Design Problem exists or with respect to the Common Improvements for deviation from Landlord's 37th floor standards, Landlord will advise Tenant in writing of such disapproval and the reasons therefor why a Design Problem or such deviation exists. Tenant will then submit to Landlord for Landlord's approval a redesign of the Space Plans incorporating the revisions reasonably required by Landlord to the extent necessary to eliminate the Design Problem or deviation from the 37th floor standards. In addition to the Allowance, Landlord hereby grants to Tenant an allowance to be applied towards the cost of preparing the Space Plans in the amount of up to $3,671.25 (the "Space Planning Allowance").
(b)    Preparation of Final Plans. Tenant's architect will prepare complete architectural plans, drawings and specifications and complete engineered mechanical, structural and electrical working

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drawings for all of the Tenant Improvements for the Suite 2600 and 2700 Expansion Space and the Common Improvements (collectively, the "Final Plans") . The Final Plans will show (a) the subdivision (including partitions and walls), layout, lighting, finish and decoration work (including carpeting and other floor coverings) for the Suite 2600 and 2700 Expansion Space; (b) all internal and external communications and utility facilities which will require conduiting or other improvements from the base Building shell work and/or within common areas; (c) the Common Improvements consisting of men's and women's Building standard restrooms on the twenty-sixth (26th) and twenty-seventh (27th) floors of the Building and a Building standard corridor on the twenty-sixth (26th) floor of the Building in conformity with Landlord's 37th floor standards; and (d) all other specifications for the Tenant Improvements. The Final Plans will be submitted to Landlord for signature to confirm that no Design Problem or deviation from the 37th floor standards exists. If Landlord disapproves any aspect of the Final Plans because a Design Problem or deviation from the 37th floor standards exists, Landlord agrees to advise Tenant in writing of such disapproval and the reasons why a Design Problem or deviation from the 37th floor standards exists. To the extent a Design Problem or deviation from the 37th floor standards exists, Tenant will then cause Tenant's architect to redesign the Final Plans incorporating the revisions reasonably requested by Landlord so as to eliminate the Design Problem or deviation from the 37th floor standards. Concurrently with Landlord's approval of the Final Plans, Landlord will identify those portions of the Tenant Improvements, if any, that Landlord will require Tenant to remove upon the expiration or earlier termination of the Eighth Amendment, and Tenant shall remove such portions of the Tenant Improvements upon the expiration or earlier termination of the Eighth Amendment subject to and only to the extent required by the terms and conditions of Article 15 of the Original Lease.
(c)    Requirements of Tenant's Final Plans. Tenant's Final Plans will include locations and complete dimensions, and the Tenant Improvements, as shown on the Final Plans, will: (i) be compatible with the Building shell and with the design, construction and equipment of the Building; (ii) if not comprised of the Building standards set forth in the written description thereof (the "Standards"), then compatible with and of at least equal quality as the Standards and approved by Landlord including as to the Common Improvements, Landlord's 37th floor standards; (iii) comply with all applicable laws, ordinances, rules and regulations of all governmental authorities having jurisdiction, and all applicable insurance regulations; and (iv) not require Building service beyond the level normally provided to other tenants in the Building unless Tenant agrees to pay for and absorb such extra costs and will not overload the Building floors.
(d)    Submittal of Final Plans. Once approved by Landlord and Tenant, Tenant's architect will submit the Final Plans to the appropriate governmental agencies for plan checking and the issuance of a building permit. Tenant's architect, with Landlord's cooperation, will make any changes to the Final Plans which are required by the applicable governmental authorities to obtain the building permit. After approval of the Final Plans no further changes may be made without the prior written approval of Landlord, which may only be withheld to the extent a Design Problem exists.
(e)    Changes to Shell of Building. If the Final Plans or any amendment thereof or supplement thereto shall require changes in the Building shell, the increased cost of the Building shell work caused by such changes will be paid for by Tenant or charged against the "Allowance" described in Section 5 below.
(f)    Work Cost Estimate and Statement. Prior to the commencement of construction of any of the Tenant Improvements shown on the Final Plans, Tenant will submit to Landlord a written estimate of the cost to complete the Tenant Improvement Work, which written estimate will be based on the Final Plans taking into account any modifications which may be required to reflect changes in the Final Plans required by the City or County of Los Angeles (the "Work Cost Estimate"). Landlord will have the right to approve the Work Cost Estimate as to the Common Improvements only and to submit to

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Tenant revisions to the Final Plans to reflect deletions of and/or substitutions for such disapproved items which are inconsistent with the 37th floor standards or to attain cost savings as reasonably desired by Landlord. Submission and approval of the Work Cost Estimate will proceed in accordance with the Work Schedule. Upon Landlord's approval of the Work Cost Estimate as to the Common Improvements (such approved Work Cost Estimate to be hereinafter known as the "Work Cost Statement"), Tenant will have the right to purchase materials and to commence the construction of the items included in the Work Cost Estimate pursuant to Section 6 hereof. If the total costs to construct the Tenant Improvements exceed the Allowance described in Section 5 below, Tenant agrees to pay such excess after the Allowance is exhausted.
5.    PAYMENT FOR THE TENANT IMPROVEMENTS.
(a)    Allowance. Landlord hereby grants to Tenant a tenant improvement allowance (the "Allowance") comprised of (x) $55.00 per rentable square foot of the Suite 2600 and 2700 Expansion Space (i.e., $1,346,125.00, based on the Suite 2600 and 2700 Expansion Space consisting of approximately 24,475 rentable square feet) plus (y) an amount equal to the actual costs incurred by Tenant in designing, permitting and constructing a building standard elevator lobby and corridor on the 26th floor, assuming that Tenant utilized building standard materials to do so, regardless of whether Tenant used better than building standard materials, and the Common Improvements in conformance with, and not to exceed, the 37th floor standards. The Allowance is to be used only for:
(i)    Payment of the cost of preparing the Space Plans and the Final Plans, including mechanical, electrical, plumbing and structural drawings and of all other aspects necessary to complete the Final Plans. The Allowance will not be used for the payment of extraordinary design work not consistent with the scope of the Standards (i.e., above-standard design work) or for payments to any other consultants, designers or architects other than Landlord's architect and/or Tenant's architect.
(ii)    The payment of plan check, permit and license fees relating to construction of the Tenant Improvements.
(iii)    Construction of the Tenant Improvements, including the Common Improvements, including, without limitation, the following:
(aa)    Installation within the Suite 2600 and 2700 Expansion Space of all partitioning, doors, floor coverings, ceilings, wall coverings and painting, millwork and similar items;
(bb)    All electrical wiring, lighting fixtures, outlets and switches, and other electrical work necessary for the Suite 2600 and 2700 Expansion Space;
(cc)    The furnishing and installation of all duct work, terminal boxes, diffusers and accessories necessary for the heating, ventilation and air conditioning systems within the Suite 2600 and 2700 Expansion Space, including the cost of meter and key control for after-hour air conditioning;
(dd)    Any additional improvements to the Suite 2600 and 2700 Expansion Space required for Tenant's use of the Suite 2600 and 2700 Expansion Space including, but not limited to, odor control, special heating, ventilation and air conditioning, noise or vibration control or other special systems or improvements;
(ee)    All fire and life safety control systems such as fire walls, sprinklers , halon, fire alarms, including piping, wiring and accessories , necessary for the Suite 2600 and 2700 Expansion Space;

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(ff)    All plumbing, fixtures , pipes and accessories necessary for the Suite 2600 and 2700 Expansion Space;
(gg)    Testing and inspection costs; and
(hh)    Fees and costs attributable to general conditions associated with the construction of the Tenant Improvements plus a construction management fee ("Construction Management Fee") to cover the services of Landlord's tenant improvement coordinator in the amount of one and one-half percent (1.5%) of the greater of (i) the hard construction costs of the Tenant Improvements, or (ii) the Allowance.
(b)    Excess Costs. The cost of each item referenced in Section 5(a) above shall be charged against the Allowance. If the work cost exceeds the Allowance, Tenant shall be solely responsible for payment of all excess costs, including the Construction Management Fee, which fee shall be paid to Landlord or deducted from the Allowance within five (5) business days after invoice therefor. In no event will the Allowance be used to pay for Tenant's furniture, artifacts, equipment, telephone systems or any other item of personal property which is not affixed to the Suite 2600 and 2700 Expansion Space.
(c)    Changes. Any changes to the Final Plans will be approved by Landlord and Tenant in the manner set forth in Section 4 above. Tenant shall be solely responsible for any additional costs associated with such changes including the Construction Management Fee, which fee shall be paid to Landlord or deducted from the Allowance within five (5) business days after invoice therefor. Landlord will have the right to decline Tenant's request for a change to the Final Plans to the extent such changes create a Design Problem.
(d)    Governmental Cost Increases. If increases in the cost of the Tenant Improvements as set forth in the Work Cost Statement are due to requirements of any governmental agency, Tenant shall be solely responsible for such additional costs including the Construction Management Fee, which fee shall be paid to Landlord within five (5) business days after invoice therefor; provided, however, that Landlord will first apply toward any such increase any remaining balance of the Allowance.
(e)    Unused Allowance Amounts. Any unused portion of the Allowance upon completion of the Tenant Improvements will be available to Tenant at any time prior to the expiration of twelve (12) months after the Suite 2600 and 2700 Commencement Date, for subsequent Alterations to Suite 2600, 2700 or to any other space leased by Tenant in the Building, or, if Tenant so elects by notice to Landlord at any time after the expiration of the twelve (12) month period after the Suite 2600 and 2700 Commencement Date, against the Rents next due and owing under the Lease.
(f)    Disbursement of the Allowance. Provided Tenant is not in default under Section 19.1 of the Lease Landlord shall disburse the Allowance to Tenant to reimburse Tenant for the actual construction costs which Tenant incurs in connection with the construction of the Tenant Improvements in accordance with the following:
(i)    Twenty-five percent (25%) of the Allowance shall be disbursed to Tenant when Landlord shall have received "Evidence of Completion and Payment" as to twenty-five percent (25%) of Tenant's Work having been completed and paid for by Tenant as described hereinbelow;
(ii)    Fifty percent (50%) of the Allowance shall be disbursed to Tenant when Landlord shall have received "Evidence of Completion and Payment" as to fifty percent (50%) of Tenant's Work having been completed and paid for by Tenant as described hereinbelow;

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(iii)    Fifteen percent (15%) of the Allowance shall be disbursed to Tenant when Landlord shall have received "Evidence of Completion and Payment" as to sixty-five percent (65%) of Tenant's Work having been completed and paid for by Tenant as described hereinbelow;
(iv)    Ninety percent (90%) of the Allowance shall be disbursed to Tenant when Landlord shall have received "Evidence of Completion and Payment" as to ninety-percent (90%) of Tenant's Work having been completed and paid for by Tenant as described hereinbelow;
(v)    The final ten percent (10%) of the Allowance shall be disbursed to Tenant when Landlord shall have received "Evidence of Completion and Payment" as to one hundred percent (100%) of Tenant's Work having been completed and paid for by Tenant as described hereinbelow and satisfaction of the items described in subparagraph (vi) below;
(vi)    As to each phase of completion of Tenant's Work described in subparagraphs (i) through (v) above, the appropriate portion of the Allowance shall be disbursed to Tenant only when Landlord has received the following "Evidence of Completion and Payment": 
(A)    Tenant has delivered to Landlord a draw request ("Draw Request") in a form reasonably satisfactory to Landlord with respect to the Improvements specifying that the requisite portion of Tenant's Work has been completed, together with invoices, receipts and bills evidencing the costs and expenses set forth in such Draw Request and evidence of payment by Tenant for all costs which are payable in connection with such Tenant's Work covered by the Draw Request. The Draw Request shall constitute a representation by Tenant (vis a vis Landlord and Tenant) that the Tenant's Work identified therein has been completed in a good and workmanlike manner and substantially in accordance with the Final Plans and the Work Schedule and has been paid for or as to which Tenant has received a conditional lien release;
(B)    The architect for the Tenant Improvements has certified to Landlord that the Tenant Improvements have been substantially completed to the level indicated in the Draw Request in accordance with the Final Plans;
(C)    Tenant has delivered to Landlord such other evidence of Tenant's payment of the general contractor and subcontractors for the portions of Tenant's Work covered by the Draw Request and the absence of any liens generated by such portions of the Tenant's Work as may be required by Landlord (i.e., either unconditional lien releases in accordance with California Civil Code Section 3262 or release bond(s) in accordance with California Civil Code Sections 3143 and 3171);
(D)    Intentionally omitted;
(vii)    The final disbursement of the balance of the Allowance shall be disbursed to Tenant only when Landlord has received Evidence of Completion and Payment as to all of Tenant's Work as provided hereinabove and the following conditions have been satisfied:
(A)    Thirty-five (35) days shall have elapsed following the filing of a valid notice of completion by Tenant for the Tenant Improvements;
(B)    A certificate of occupancy for the Tenant Improvements and the Suite 2600 and 2700 Expansion Space has been issued by the appropriate governmental body;
(C)    Tenant has delivered to Landlord: (i) properly executed mechanics lien releases from all of Tenant's contractors, agents and suppliers in compliance with both California Civil

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Code Section 3262(d)(2) and either Section 3262(d)(3) or Section 3262(d)(4), which lien releases shall be conditional with respect to the then-requested payment amounts and unconditional with respect to payment amounts previously disbursed by Landlord; (ii) an application and certificate for payment (AlA form G702-1992 or equivalent) signed by Tenant's architect/space planner; (iii) original stamped building permit plans; (iv) copy of the building permit; (v) original stamped building permit inspection card with all final sign-offs; (vi) a reproducible copy (in a form approved by Landlord) of the "as-built" drawings of the Tenant Improvements; (vii) air balance reports; (viii) excess energy use calculations; (ix) one year warranty letters from Tenant's contractors; (x) manufacturer's warranties and operating instructions; (xi) final punchlist completed and signed off by Tenant's architect/space planner; and (xii) an acceptance of the Suite 2600 and 2700 Expansion Space signed by Tenant;
(D)    If Landlord determines that work exists which adversely affects the mechanical, electrical, plumbing, heating, ventilating and air conditioning, life-safety or other systems of the Building, the curtain wall of the Building, the structure or exterior appearance of the Building, or any other tenant's use of such other tenant's leased premises in the Building, Tenant shall cause such work to be corrected;
(E)    Intentionally omitted; and
(F)    Tenant has delivered to Landlord evidence satisfactory to Landlord that all construction costs in excess of the Allowance have been paid for by Tenant. Notwithstanding anything to the contrary contained hereinabove, all disbursements of the Allowance shall be subject to the prior deduction of the portion of the Construction Management Fee allocable to the Tenant Improvements described in the applicable Draw Request.
(g)    Books and Records. At its option, Landlord, at any time within three (3) years after final disbursement of the Allowance to Tenant, and upon at least ten (10) days prior written notice to Tenant, may cause an audit to be made of Tenant's books and records relating to Tenant's expenditures in connection with the construction of the Tenant Improvements. Tenant shall maintain complete and accurate books and records in accordance with generally accepted accounting principles of these expenditures for at least three (3) years. Tenant shall make available to Landlord's auditor at the Suite 2600 and 2700 Expansion Space within ten (10) business days following Landlord's notice requiring the audit, all books and records maintained by Tenant pertaining to the construction and completion of the Tenant Improvements.
(h)    Tenant's Right to Offset. Notwithstanding anything to the contrary set forth in this Work Letter or elsewhere in this Lease, if Landlord fails to timely disburse any monthly payment of the Allowance or the Final Retention of the Allowance within the time periods set forth above, Tenant shall be entitled to deliver written notice ("Payment Notice") thereof to Landlord and to any holder of a mortgage or deed of trust encumbering the Building. If Landlord still fails to fulfill any such obligation within ten (10) business days after Landlord's receipt of the Payment Notice from Tenant and if Landlord fails to deliver written notice to Tenant within such ten (10) business day period explaining Landlord's reasons that the amounts described in Tenant's Payment Notice are not due and payable by Landlord ("Refusal Notice"), Tenant shall be entitled to fund such amount(s) itself and to offset such amount(s) (provided Tenant obtains all appropriate lien releases with respect to any such amount(s) prior to Tenant's offset thereof), together with interest at the Interest Rate (as defined in Section 29.34 of the Original Lease) from the date of payment by Tenant until; the earlier of the date of offset and subsequent payment by Landlord, against Tenant's next obligations to pay Base Rent under this Lease. However, Tenant shall not be entitled to any such offset while Tenant is in default under Section 19.1 of the Lease. If Landlord delivers a Refusal Notice, and if Landlord and Tenant are not able to agree on the amounts to be so paid

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by Landlord, if any, within ten (10) business days after Tenant's receipt of a Refusal Notice, Landlord shall pay the amount that is not disputed and either Landlord or Tenant may elect to have such dispute resolved pursuant to the proceeding set forth in Section 29.31 of the Original Lease. If Tenant obtains a judgment in its favor in any such proceedings, Tenant shall be entitled to offset the amount determined to be payable by Landlord in such proceedings together with any attorneys' fees and costs awarded therein to Tenant together with interest at the Interest Rate from the date of payment by Tenant to the date of such offset or subsequent payment by Landlord against Tenant's next obligations to pay Base Rent (but Tenant shall not be entitled to any such offset while Tenant is in default under Section 19.1 of the Original Lease.
6.    CONSTRUCTION OF TENANT IMPROVEMENTS. Following Landlord's approval of the Final Plans and the Work Cost Statement described in Section 4(f) above, Tenant's contractor (selected as provided in Section 8(n)) may commence and, once commenced, shall diligently proceed with the construction of the Tenant Improvements. Tenant shall use diligent efforts to cause its contractor to complete the Tenant Improvements in a good and workmanlike manner in accordance with the Final Plans. Landlord shall have the right to enter upon the Suite 2600 and 2700 Expansion Space to inspect Tenant's construction activities following reasonable advance notice Tenant.
7.    DELIVERY OF POSSESSION; TERM AND RENT COMMENCEMENT DATE.
(a)    Delivery of Possession. Subject to the Existing Tenant properly and timely vacating and surrendering the 27th Floor Space to Landlord, Landlord agrees to use its commercially reasonable efforts to complete Landlord's Work and deliver possession of Suite 2600 and the Suite 2700 Expansion Space on December 1, 2014 (the "Scheduled Turnover Date"). Landlord agrees not to consent to the Existing Tenant's holdover in the 27th Floor Space and not to agree to extend the term of the space occupied by the Existing Tenant and shall institute unlawful detainer proceedings against the Existing Tenant if such Existing Tenant does not vacate such space by December 1, 2014. Tenant agrees that if Landlord is unable to deliver possession of the Suite 2600 and 2700 Expansion Space to Tenant on or prior to the Scheduled Turnover Date the Eighth Amendment will not be void or voidable, nor will Landlord be liable to Tenant for any loss or damage resulting therefrom, if Landlord otherwise fulfills its obligations hereunder. The actual dates upon which Landlord turns over possession of the Suite 2600 and 2700 Expansion Space to Tenant are the "Turnover Dates."
(b)    Commencement Date. The Suite 2600 and 2700 Lease Term and Tenant's obligation to pay rent will commence upon May 1, 2015 (the "Rent Commencement Date") subject to extensions for Landlord Delays and Force Majeure Events.
(c)    Substantial Completion; Punch-List. The Tenant Improvements will be deemed to be "substantially completed" when Tenant's contractor certifies in writing to Landlord and Tenant that Tenant has substantially performed all of the Tenant Improvement Work required to be performed by Tenant under this Work Letter, other than decoration and minor "punch-list" type items and adjustments which do not materially interfere with Tenant's use of the Suite 2600 and 2700 Expansion Space ; and Tenant has obtained a temporary certificate of occupancy or other required equivalent approval from the local governmental authority permitting occupancy of the Suite 2600 and 2700 Expansion Space. Within ten (10) days after receipt of such certificates, Tenant and Landlord will conduct a walk-through inspection of the Suite 2600 and 2700 Expansion Space and Landlord shall provide to Tenant a written punch-list specifying those decoration and other punch-list items which require completion, which items Tenant will thereafter diligently complete.

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8.    MISCELLANEOUS CONSTRUCTION COVENANTS
(a)    No Liens. If the Tenant Improvements or the Building or any portion thereof are subjected to any mechanic's, materialmen's or other liens or encumbrances arising out of the construction of the Tenant Improvements, Tenant shall remove same by payment and/or bonding within ten (10) days of Tenant receiving notification of such lien(s).
(b)    Diligent Construction. Tenant will, once construction has commenced, promptly, diligently and continuously pursue construction of the Tenant Improvements to successful completion in substantial compliance with the Final Plans, the Work Schedule and this Work Letter. Landlord and Tenant shall cooperate with one another during the performance of Tenant's Work to effectuate such work in a timely and compatible manner.
(c)    Compliance with Laws. Tenant will construct the Tenant Improvements in a safe and lawful manner. Tenant shall, at its sole cost and expense, comply with all applicable laws and all regulations and requirements of, and all licenses and permits issued by, all municipal or other governmental bodies with jurisdiction which pertain to the installation of the Tenant Improvements. Copies of all filed documents and all permits and licenses shall be provided to Landlord. Any portion of the Tenant Improvements which is not acceptable to any applicable governmental body, agency or department, or because of the existence of a Design Problem, is not reasonably satisfactory to Landlord, shall be promptly repaired or replaced by Tenant at Tenant's expense. Notwithstanding any failure by Landlord to object to any such Tenant Improvements, Landlord shall have no responsibility therefor.
(d)    Indemnification. Subject to the terms of the Lease regarding insurance and waiver of subrogation by the parties, Tenant hereby indemnifies and agrees to defend and hold Landlord, the Suite 2600 and 2700 Expansion Space and the Building harmless from and against any and all suits, claims, actions, losses, costs or expenses of any nature whatsoever, together with reasonable attorneys' fees for counsel of Landlord's choice, arising out of or in connection with the Tenant Improvements or the performance of Tenant's Work (including, but not limited to, claims for breach of warranty, worker's compensation, personal injury or property damage, and any materialmen's and mechanic's liens).
(e)    Insurance. Construction of the Tenant Improvements shall not proceed without Tenant first acquiring workers' compensation and commercial general liability insurance and property damage insurance as well as "All Risks" builders' risk insurance, with minimum coverage of $2,000,000 or such other amount as may be approved by Landlord in writing and issued by an insurance company reasonably satisfactory to Landlord. Not less than ten (10) days before commencing the construction of the Tenant Improvements, certificates of such insurance shall be furnished to Landlord. All insurance policies maintained by Tenant pursuant to this Work Letter shall name Landlord and any lender with an interest in the Suite 2600 and 2700 Expansion Space as additional insureds and comply with all of the applicable terms and provisions of the Lease relating to insurance. Tenant's contractor shall be required to maintain the same insurance policies as Tenant, and such policies shall name Tenant, Landlord and any lender with an interest in the Suite 2600 and 2700 Expansion Space as additional insureds.
(f)    Construction Defects. Landlord shall have no responsibility for the Tenant Improvements and Tenant will remedy, at Tenant's own expense, and be responsible for any and all defects in the Tenant Improvements that cause a Design Problem and that appear during or after the completion thereof whether the same shall affect the Tenant Improvements in particular or any parts of  the Suite 2600 and 2700 Expansion Space in general. Tenant shall indemnify, hold harmless and reimburse Landlord for any costs or expenses incurred by Landlord by reason of any defect in any portion of the Tenant Improvements constructed by Tenant or Tenant's contractor or subcontractors, or by reason

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of inadequate cleanup following completion of the Tenant Improvements, subject to the terms of the Lease regarding insurance and the waiver of subrogation.
(g)    Additional Services. If the construction of the Tenant Improvements shall require that additional services or facilities (including, but not limited to, hoisting, cleanup or other cleaning services, trash removal, field supervision, or ordering of materials) be provided by Landlord, then Tenant shall pay Landlord for such items at Landlord's cost or at a reasonable charge if the item involves time of Landlord's personnel only. Electrical power, parking, freight elevator usage, and heating, ventilation and air conditioning, trash removal and the like shall be available and provided to Tenant and its contractors and subcontractors during normal construction and business hours for construction purposes at no charge to Tenant or its contractors and subcontractors.
(h)    Coordination of Labor. All of Tenant's contractors, subcontractors, employees, servants and agents must work in harmony with and shall not interfere with any labor employed by Landlord, or Landlord's contractors or by any other tenant or its contractors with respect to the any portion of the Property. Nothing in this Work Letter shall, however, require Tenant to use union labor.
(i)    Work in Adjacent Areas. Any work to be performed in areas adjacent to the Suite 2600 and 2700 Expansion Space shall be performed only after obtaining Landlord's express written permission, which shall not be unreasonably withheld, conditioned or delayed.
(j)    HVAC Systems. Tenant agrees to be entirely responsible for the maintenance or the balancing of any heating, ventilating or air conditioning system installed by Tenant and/or maintenance of the electrical or plumbing work installed by Tenant and/or for maintenance of lighting fixtures, partitions, doors, hardware or any other installations made by Tenant.
(k)    Coordination with Lease. Nothing herein contained shall be construed as (i) constituting Tenant or Landlord as the other's agent for any purpose whatsoever, or (ii) a waiver by Landlord or Tenant of any of the terms or provisions of the Amended Lease. Any default by Tenant under Section 19.1 of the Lease with respect to any portion of this Work Letter shall be deemed a breach of the Amended Lease for which Landlord shall have all the rights and remedies as in the case of a breach of said Lease.
(1)    Approval of Plans. Landlord will not check Tenant drawings for building code compliance. Approval of the Final Plans by Landlord is not a representation that the drawings are in compliance with the requirements of governing authorities, and it shall be Tenant's responsibility to meet and comply with all federal, state, and local code requirements. Approval of the Final Plans does not constitute assumption of responsibility by Landlord or its architect for their accuracy, sufficiency or efficiency, and Tenant shall be solely responsible for such matters.
(m)    Tenant's Deliveries. Tenant shall deliver to Landlord, at least five (5) days prior to the commencement of construction of Tenant's Work, the following information:
(i)    The names, business addresses, telephone numbers, and primary contacts for the general, mechanical and electrical contractors Tenant intends to engage in the performance of Tenant's Work; and
(ii)    The date on which Tenant's Work will commence, together with the estimated dates of completion of Tenant's construction and fixturing work.

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(n)    Qualification of Contractors. Once the Final Plans have been proposed and approved, Tenant shall select and retain a contractor and subcontractors from a list of contractors and subcontractors reasonably approved by Landlord for the construction of the Tenant Improvement Work in accordance with the Final Plans. All contractors engaged by Tenant shall be bondable, licensed contractors, possessing good labor relations, capable of performing quality workmanship and working in harmony with Landlord's general contractor and other contractors on the job, if any, all as reasonably determined by Landlord. All work shall be coordinated with general construction work on the Site, if any. The contractors and subcontractors listed on Schedule 2 attached to this Exhibit B are deemed pre-approved by Landlord.
(o)    Warranties. Tenant shall cause its contractor to provide warranties for not less than one (1) year (or such shorter time as may be customary and available without additional expense to Tenant) against defects in workmanship, materials and equipment, which warranties shall run to the benefit of Landlord or shall be assignable to Landlord to the extent that Landlord is obligated to maintain any of the improvements covered by such warranties.
(p)    Landlord's Performance of Work. Within ten (10) working days after receipt of Landlord's notice of Tenant's failure to perform its obligations under this Work Letter, if Tenant shall fail to commence to cure such failure, Landlord shall have the right, but not the obligation, to perform, on behalf of and for the account of Tenant, subject to reimbursement of the cost thereof by Tenant, any and all of Tenant's Work which Landlord determines, in its reasonable discretion, should be performed immediately and on an emergency basis for the best interest of the Suite 2600 and 2700 Expansion Space including, without limitation, work which pertains to structural components, mechanical, sprinkler and general utility systems, roofing and removal of unduly accumulated construction material and debris; provided, however, Landlord shall use reasonable efforts to give Tenant at least ten (10) days prior notice to the performance of any of Tenant's Work.
(q)    As-Built Drawings. Tenant shall cause "As-Built Drawings" (excluding furniture, fixtures and equipment) to be delivered to Landlord and/or Landlord's representative no later than sixty (60) days after the completion of Tenant's Work. In the event these drawings are not received by such date, Landlord may, at its election, cause said drawings to be obtained and Tenant shall pay to Landlord, as additional rent, the cost of producing these drawings.
9.    SERVICES AND FREIGHT/CONSTRUCTION ELEVATOR. Landlord will, consistent with its obligation to other tenants in the Building, if appropriate and necessary, make the parking, trash removal, HVAC, electricity, hoisting and freight/construction elevator reasonably available to Tenant in connection with the construction of the Tenant Improvements during construction and business hours. Tenant agrees to pay for any after-hours use of services and staffing of the freight/construction elevator, if needed. If Tenant's construction of the Tenant Improvements reasonably requires Landlord to staff additional security and/or additional Building personnel, then Tenant shall be responsible for the cost of such additional staffing.
10.    LANDLORD DELAYS AND FORCE MAJEURE EVENTS. "Landlord Delays", for purposes hereof shall mean any actual delays caused by Landlord including the failure to deliver the Suite 2600 and 2700 Expansion Space with the ACM abatement work fully completed as described on Schedule 3 and the Building Systems servicing the Suite 2600 and 2700 Expansion Space in good operating order and condition by December 1, 2014, failure to comply with any of the time periods for approval of the Space Plans and Final Plans (as defined in and pursuant to this Work Letter), failure to provide Tenant sufficient access to the Suite 2600 and 2700 Expansion Space and the Building to construct its Tenant Improvements and move into such space (subject to Tenant's compliance with Landlord's reasonable rules and regulations regarding move-in and construction), failure to comply with

Exhibit B Page 10

any other provision of the Lease and/or this Work Letter, failure to timely disburse the Tenant Improvement Allowance. "Force Majeure Events" mean any event described as a Force Majeure in Section 29.17 of the Lease to the extent such event actually delays Tenant (on a day for day basis) in the design, permitting and constructing its Tenant Improvements or move into the Suite 2600 and 2700 Expansion Space. In addition, no Landlord Delay or other Force Majeure Event shall be deemed to have occurred unless and until Tenant has given Landlord written notice that an event giving rise to such Landlord Delay or Force Majeure Event is about to occur or has occurred which will cause a delay in the design, permitting and completion of the Tenant Improvements (minor punch-list items excepted) and move into the Suite 2600 and 2700 Expansion Space and Landlord has failed to remedy the situation giving rise to the potential Landlord Delay or other delay from a Force Majeure Event within one (I) business day after Landlord's receipt of such notice, in which case the number of days of actual delay after such notice shall be a Landlord Delay or other delay from a Force Majeure Event.

Exhibit B Page 11

SCHEDULE 1
SPECIFICATIONS FOR STANDARD IMPROVEMENT PACKAGE
(As further specified on Landlord's Building standard detail sheets)
	
			
	GENERAL

	 
	 
	 

	The following items comprise the Building's standard materials and finishes for new construction of tenant suites as of
December, 2004. For areas that are to be renovated rather than built out with new improvements, greater latitude will be
granted with substitution items that match or that closely match existing materials already installed. These or other
substitutions must be noted in plans with the reason for substitution, and a plan attachment or specification must include
a specific space for recording acceptance of the requested substitution.

	 
	 
	 

	TENANT IMPROVEMENTS

	 
	 
	 

	1.
	FINISH HARDWARE:

	 
	A.
	Unit Lock: (renovation only)
Corbin 8912 LR-351 626 (Dull Chrome)

	 
	 
	 

	 
	B.
	Unit Latch: (renovation only)
Corbin 912 LR-310 626 (Dull Chrome)

	 
	 
	 

	 
	C.
	Mortise: (Use for new construction)
Corbin 9510 Latch L9551 Lock

	 
	 
	 

	 
	D.
	Butts:
Stanley FBB 179 4 1⁄2 x 4 c 652 (Dull Chrome)

	 
	 
	 

	 
	E.
	Closers:
Corbin PK 120- X SBL-LBL

	 
	 
	 

	 
	F.
	Stops:
Quality Brand 331ES x 332 1⁄2 x or 26D (Dull Chrome)

	 
	 
	 

	 
	G.
	Coordinators:
Glenn – Johnson Cor-2

	 
	 
	 

	 
	H.
	Thresholds:
Pemko 236 – 4D (Brown) 4 A Alum. (Carpet to Carpet)

	 
	 
	 

	 
	I.
	Dust Proof Strike
Builders Brass Works 5048 x 613 Brown x 626 Silver

	 
	 
	 

	 
	J.
	Flush Bolts:
DCI-942 NH

Schedule 1 to Exhibit B Page 1

	
			
	2.
	PARTITIONS:

	 
	A.
	Interior:
2 1⁄2" x 25 ga. metal studs with 5/8" Type "X" gypsum board, both sides, tape ready for flat paint.

	 
	 
	 

	 
	B.
	One Hour Fire Rated:
2 1⁄2" x 25 ga. metal studs with 5/8" Type "X" gypsum board, both sides,(slab-to-slab).
Tape ready for flat paint.

	 
	 
	 

	 
	C.
	Demising:
2 1⁄2" x 25 ga. metal studs with 5/8" Type "X" gypsum board, both sides,(slab-to-slab).
Fully insulated.  Tape ready for flat paint.

	 
	 
	 

	3.
	CEILING:

	 
	 
	 

	 
	A.
	Tile:
Armstrong Tegualar Cortega 24 x 24 x 3/4 White.

	 
	 
	 

	 
	B.
	Suspension System:
Don Fineline D x F/D x FL; White 24" x 24" suspended.

	 
	 
	 

	4.
	PAINT:

	 
	 
	 

	 
	A.
	Drywall:
Sinclair – 2 coat system pigmented sealer with flat vinyl latex finish coat.

	 
	 
	 

	 
	B.
	Doors:
Single slice walnut, watco oil and wax.

	 
	 
	 

	 
	C.
	Induction Units:
2-coat primer and semi-gloss enamel.  (Must be painted after hours).

	 
	 
	 

	5.
	DOORS:

	 
	 
	 

	 
	A.
	Solid core plain slice walnut.  (Common area side of door only).

	 
	 
	 

	6.
	DOOR FRAMES:

	 
	 
	 

	 
	A.
	Western Integrate – extruded aluminum, black finish.

	 
	 
	 

	7.
	CARPET:

	 
	 
	 

	 
	A.
	DESIGN WEAVE "Tempest-Classic" – 32 oz., installed over 5/16" "Nova" pad.

	 
	 
	 

	8.
	VINYL COMPOSITION TILE:

	 
	 
	 

	 
	A.
	Azrock Futura 12" x 12" x 3/32".

	 
	 
	 

	9.
	RUBBER BASE:

	 
	 
	 

	 
	A.
	Burke or equal 2 1⁄2" coved rubber base.

Schedule 1 to Exhibit B Page 2

	
			
	10.
	LIGHT FIXTURES:

	 
	A.
	LITHONIA PARAMAX:
2PM3-STD-332-18 LS 277-SSB/TU-3-1
Sylvania Bulbs – 3500K T-8

	 
	 
	 

	 
	B.
	BALLAST:
Sylvania 3 lamp electronic reduced wattage ballast

	 
	 
	 

	11.
	SWITCH ASSEMBLY:

	 
	 
	 

	 
	A.
	NOVITAS
Wall mounted occupancy sensor in standard offices, Model #DL45.  Reception areas,
conference rooms, kitchens, open floor areas and similar areas to be fitted with Novitas
ceiling mounted occupancy sensor, Model # to be determined based upon room size".

	 
	 
	 

	12.
	EXIT SIGN:

	 
	 
	 

	 
	A.
	LITHONIA PRECISE:
277 Volt (verify) Green LED

	 
	 
	 

	13.
	ELECTRICAL FLOOR OUTLET:

	 
	 
	 

	 
	A.
	WALKER:
#7903 KC 120 V grounded floor mounted duplex receptacle.

	 
	 
	 

	14.
	TELEPHONE (data) FLOOR OUTLET:

	 
	 
	 

	 
	A.
	WALKER:
#7903 KC floor mounted telephone outlet.

	 
	 
	 

	15.
	ELECTRICAL WALL OUTLET:

	 
	 
	 

	 
	A.
	Standard duplex receptacle and cover plate in standard color to match light switch.

	 
	 
	 

	16.
	TELEPHONE (data) WALL OUTLET:

	 
	 
	 

	 
	A.
	Standard "handy box" with blank plate in standard color to match light switch.

	 
	 
	 

	17.
	GRILLES, REGISTERS, AND DIFFUSERS:

	 
	 
	 

	 
	A.
	Standard stamped metal with perforated metal cover to fit ceiling module.  Finish to be
baked white enamel to match ceiling grid.

	 
	 
	 

	18.
	WINDOW COVERING

	 
	 
	 

	 
	A.
	SOLAR VERTICAL SYSTEMS:
Standard: SVS – PVC #23 "Sand", Curved
Upgrade: SVS – 617 White/Charcoal; 3 1⁄2" wide fabric vanes
Mounting Hardware: SVS – 8000 Series hardware, bronze finish.
Inside mounted within the window frames at all exterior windows
Conference Room Windows may be mounted on single track.

Schedule 1 to Exhibit B Page 3

	
			
	 
	 
	Provided, however, Tenant may install mecho shades at its sole cost and expense with a 
color that is comparable to the color used for the vertical shades in the Premises.

	 
	 
	 

	19.
	HEATING AIR-CONDITIONING AND VENTILATING DISTRIBUTION

	 
	A.
	Thermostats, distribution ductwork, diffusers, registers, and grilles connected to based
building system.
Siemens Building Tech Thermostat
DDC Controller - #S40-100
VAV Motor - #349-0100
ANEMOSTAT MOD. FASD Size 8 CFM-100-400

	 
	 
	 

	20.
	GENERAL ELECTRICAL:

	 
	 
	 

	 
	A.
	All fixtures to be UL approved.

	 
	 
	 

	 
	B.
	All lighting to be installed with conduit and wire.  No whip or flexible wire systems.

	 
	 
	 

	 
	C.
	No BX or armored cable.

	 
	 
	 

	 
	D.
	All circuits for outlets to be fed down the walls from a "J" box.  Home run to be
established as per diagram.  Panel schedules are to be typed or computer printed, filled in
accurately and all circuits to be numbered including neutral and ground wire at the PNLS
& "J" boxes.

	 
	 
	 

	 
	E.
	All sub-panels will be Westinghouse brand.

	 
	 
	 

	 
	F.
	All exit signs will be 277 VAC.  Verify with Engineering Department.

	 
	 
	 

	 
	G.
	All penetrations through slabs and rated walls to be fire sealed in accordance with all City
of Los Angeles Building Code requirements.

	 
	 
	 

	 
	H.
	All panels to be specified as panel boards.

	 
	 
	 

	 
	I.
	Only plenum rated cables may be utilized and all cable above ceiling will be properly
strapped on their own hangers in accordance with City of Los Angeles Building Code.

	 
	 
	 

	 
	J.
	Engineering is to be contacted before any hangers are shot into slab to identify location of
walker duct system in the slabs.

	 
	 
	 

	21.
	PLUMBING:

	 
	 
	 

	 
	A.
	All copper pipe to be type "L."

	 
	 
	 

	 
	B.
	All water feeds to sinks to be valved in ceiling above sink and at the main source.

	 
	 
	 

	 
	C.
	All hot water lines to be properly insulated.

	 
	 
	 

	 
	D.
	All copper lines to be properly strapped.

	 
	 
	 

	 
	E.
	All shut off valves to be ball type, 200 WOG minimum rating.

Schedule 1 to Exhibit B Page 4

	
			
	 
	F.
	All penetrations through slabs and rated walls to be fire sealed in accordance with all City
of Los Angeles Building Code requirements.

	 
	 
	 

	22.
	HVAC:

	 
	A.
	ALL VAV to be Anemostat brand.

	 
	 
	 

	 
	B.
	Thermostats to be Siemens Building Tech 540-100 Series.

	 
	 
	 

	 
	C.
	Pneumatic P.O.C. at main feed to be valved.

	 
	 
	 

	 
	D.
	Main runs to be 3/8 inch and branch line 1/4 inch.

	 
	 
	 

	 
	E.
	Chaffing guards to be put around tubing where strapped to hangers.

	 
	 
	 

	 
	F.
	Poly tubing is allowed but must be properly secured.

	 
	 
	 

	 
	G.
	Final air balance to be performed by a certified air balance company acceptable to the
management of the Building.

	 
	 
	 

	23.
	FIRE & LIFE SAFETY:

	 
	 
	 

	 
	A.
	Simplex 2120 System

	 
	 
	 

	 
	B.
	Simplex 4200 System

	 
	 
	 

	 
	C.
	Addressable – S/D

	 
	 
	 

	 
	D.
	Addressable – D/D with a remote LED & Test SW key

	 
	 
	 

	 
	E.
	All final device installation and testing to be performed by Building's designated fire/life-safety 
contractor.

Schedule 1 to Exhibit B Page 5

SCHEDULE 2
LIST OF PRE-APPROVED CONTRACTORS AND SUBCONTRACTORS

	
			
	Pre-Approved General Contractor List
May 2014

	 
	 
	 

	Clune Construction Company
Robert Dahlstrom, President
350 South Grand Avenue, Suite 1670
Los Angeles, CA 90071
	 
	

Ph:  (213) 680-7450
Fax:          (213) 473-1515
E-mail:      rdahlstrom@clunegc.com

	 
	 
	 

	Corporate Contractors Incorporated
Mark Hemphill, Executive Vice President
2550 Corporate Place, Suite C111
Monterey Park, CA 91754
	 
	

Ph:  (323) 263-3664
Fax:          (323) 263-3685
E-mail:      Markhemhill@corpcon.net

	 
	 
	 

	Environmental Contracting Corporation
Ara Bedros, Vice President Operations
880 East 1st Street
Los Angeles, CA 90012
	 
	

Ph:  (213) 620-8008
Fax:          (213) 620-8778
E-mail:      Abedros@eccla.com

	 
	 
	 

	Howard Builders
Paul McGunnigle, Executive Vice President
707 Wilshire Boulevard, Suite 3750
Los Angeles, CA 90017
	 
	

Ph:  (213) 683-1850
Fax: 
E-mail:      Paulmcg@howardbuilding.com

	 
	 
	 

	MDL Construction, Inc.
Rick Camacho, President
9037 Arrow Route, Suite 100
Rancho Cucamonga, CA 91730
	 
	Mobile:    (909) 349-7724
Ph:  (909) 945-9988 ext. 204
Fax:          (909) 945-9944
E-mail:      Rick@mdlconstruction.net

	 
	 
	 

	Pankow Builders
Alex Jimenez, Senior Project Manager
199 S. Los Robles Avenue, Suite 200
Pasadena, CA 01101
	 
	

Ph:  (626) 696-1813
Fax: 
E-mail: 

	 
	 
	 

	Syntax Builders
Lee Keyte, President
2945 Honolulu Avenue
Le Crescenta, CA 91214
	 
	Mobile:    (818) 726-9981
Ph:  (818) 957-4077
Fax:          (818) 236-3770
E-mail:      lee@syntaxbuilders.com

	 
	 
	 

	Union Bank Plaza

Schedule 2 to Exhibit B Page 1

	
					
	Pre-Approved Subcontractor List
May 2014

	 
	 
	 
	 
	 

	DRYWALL

	 
	 
	 
	 
	 

	T-Wall Enterprises
Richard Tucker
15008 Chalco Street
La Mirada, CA 90638
Ph:        (562) 266-6674
Fax:      (562) 352-0102
	 
	Martin Brothers
Raffi Ounanian
17104 South Figueroa Street
Gardena, CA 90248
Ph:        (310) 532-5335
Fax:      (310) 516-1829
	 
	Sharpe Interiors Systems
Don Mousseau
11093-B Sheldon Street
Sun Valley, CA 91352
Ph:        (818) 767-4474
Fax:      (818) 504-9381

	 
	 
	 
	 
	 

	Raymond Interiors
Roy Woodie
P.O. Box 1727 10050
Orange, CA 92668
Ph:        (714) 771-7670
Fax:      (714) 633-1588
	 
	Gierahn Drywall, Inc.
Frank Gierahn
Gierson Avenue
Chatsworth, CA 
Ph:        (818) 700-1383
Fax:      (818) 700-9845
	 
	 

	 
	 
	 
	 
	 

	HVAC

	 
	 
	 
	 
	 

	Air-Tec
Dale Whitaker
1606 East Carson Street
Carson, CA 90745
Ph:        (213) 549-1698
Fax:      (213) 549-8329
	 
	ACCO Engineering Systems
Ron Falasaca
6265 San Fernando Road
Glendale, CA 91201
Ph:        (818) 244-6571
Fax:      (818) 247-6533
	 
	Grayson Inc.
Bill Lyon
2213-15 N. Rosemead Blvd.
South El Monte, CA 91733
Ph:        (323) 283-9451
Fax:      (323) 283-6709

	 
	 
	 
	 
	 

	Western Allied Corporation
Pete Peterson
12046 East Florence Avenue
Santa Fe Springs, CA 90670
Ph:        (213) 685-4050
Fax:      (213) 283-6707
	 
	Control Air
Tony Lobito
3301 N. Glassel Road
Orange, CA 92865
Ph:        (714) 283-8100
Fax:      (714) 283-4955
	 
	Altmayer & Son
Steven Altmayer, Jr.
10665 East Rush Street
El Monte, CA 91733
Ph:        (626) 442-3770

Schedule 2 to Exhibit B Page 2

	
					
	WestCo Service Company
David Barbario
8621 Kewen Avenue
Sun Valley, CA 91352
Ph:        (818) 504-6353
Fax:      (818) 504-6775
	 
	Integrated Mechanical Systems, Inc.
Kevin Stiver
2390 Bateman Avenue
Irwindale, CA 91010
Ph:        (626) 446-1854
Fax:      (626) 446-1855
	 

	 
	 
	 
	 
	 

	FIRE SPRINKLERS

	 
	 
	 
	 
	 

	Scott Campbell Company
Scott Petitt
2532 East 49th Street
Vernon, CA 90058
Ph:        (213) 582-5103
Fax:      (213) 582-4370
	 
	Qualco Fire Protection, Inc.
Donald E. Becka
13151 Florence Avenue
Santa Fe Springs, CA 90670
Ph:        (562) 946-5060
Fax:      (213) 582-4370
	 
	Northstar
Randy Howell
11570 Seaboard Circle
Stanton, CA 90680
Ph:        (714) 894-6285
Fax:      (714) 894-6286

	 
	 
	 
	 
	 

	Advance Fire Protection
1451 West Lambert Road
La Habra, CA 92665
Ph:        (310) 691-0918
Fax:      (310) 691-5482
	 
	 
	 
	 

	 
	 
	 
	 
	 

	PLUMBING

	 
	 
	 
	 
	 

	Muir-Chase Plumbing Co.
Grant Muir
1940 Gardena Avenue
Glendale, CA 91204
Ph:        (818) 500-1940
Fax:      (818) 500-0397
	 
	Pan Pacific
Jack McMackin
17911 Mitchell South
Irvine, CA 92614
Ph:        (949) 474-9170
Fax:      (949) 474-4274
	 
	 

	 
	 
	 
	 
	 

	ELECTRICAL
	 
	 
	 
	 

	 
	 
	 
	 
	 

	Morrow – Meadows
Mark Hawkins
231 Benton Court
City of Industry, CA 91789
Ph:        (909) 598-7700
Fax:      (213) 617-1744
	 
	Steiny & Company
221 N. Ardmore Avenue
Los Angeles, CA 90004
Ph:        (213) 382-2331
Fax:      (213) 381-6781
	 
	O'Bryant Electric, Inc.
Steve O'Bryant
21606 Osborne Street
Canoga Park, CA 91304
Ph:        (818) 407-1986
Fax:      (818) 407-0983

	 
	 
	 
	 
	 

	Building & Computer Electric
Ed Kent
5351 Alhambra Avenue
Los Angeles, CA 90032
Ph:        (323) 221-3030
Fax:      (323) 221-3111
	 
	R&R Electric
Rick Alcantar
2029 Century Park East, #C4
Los Angeles, CA 90067
Ph:        (310) 785-0288
Fax:      (310) 785-0621
	 
	Carol Electric Company
Rob Simpson
3822 Cerritos Ave.
Los Alamitos, CA 90720
Ph:        (562) 594-1174
Fax:      (562) 594-1175
robsimpson@carolelectric.com

Schedule 2 to Exhibit B Page 3

	
					
	FIRE / LIFE SAFETY

	 
	 
	 
	 
	 

	Red Hawk
2705 Media Center Drive
Los Angeles, CA 90065
Ph:        (323) 276-3100
Fax:      (323) 376-3140
	 
	TRL
9531 Milliken Avenue
Rancho Cucamonga, CA 91730
Ph:        (800) 266-1392
Fax:      (909) 390-8397
	 
	 

	 
	 
	 
	 
	 

	WALL FINISHES / UPHOLSTERED WALL

	 
	 
	 
	 
	 

	Duggan & Associates, Inc.
Frank Valdez
22825 Lockness Avenue
Torrance, CA 90501
Ph:        (310) 539-1812
Fax:      (310) 539-5921
	 
	Randall / McAnany Co.
Tim McAnany
4935 McConnell Avenue, #20
Los Angeles, CA 90066
Ph:        (310) 822-3344
Fax:      (310) 301-4924
	 
	Shapiro-Ben-Basat
Chaim Ben-Basat
7015 Valjean Avenue
Van Nuys, CA 91406
Ph:        (818) 908-1900
Fax:      (818) 908-9428

	 
	 
	 
	 
	 

	Pickering & Sons
Bob Pickering
15550-B Rockfield Blvd.
Irvine, CA 92618
Ph:        (949) 380-3323
Fax:      (949) 380-3343
	 
	Blakely Company
David Palos
5533 Alhambra Avenue
Los Angeles, CA 90032
Ph:        (323) 221-4176
Fax:      (323) 221-4732
	 
	Lawrence B. Bonas Company
Guy Bonas
1301 Hunter Avenue
Santa Ana, CA 92705
Ph:        (714) 953-2010
Fax:      (714) 550-0134

	 
	 
	 
	 
	 

	Palos Company
11498 Copper Pass Ct.
Alta Loma, CA 92626
Ph:        (909) 527-3803
Fax:      (909) 527-4265
	 
	 
	 
	 

	 
	 
	 
	 
	 

	FLOOR FINISHES
	 
	 
	 
	 

	 
	 
	 
	 
	 

	J/G Carpet & Drapery Co.
Howard Corman
16135 Runnymede Street
Van Nuys, CA 91406
Ph:        (818) 997-8204
Fax:      (818) 997-6127
	 
	SCS Systems of CA
John O'Neill
708 W. Town & Country Road
Orange, CA 92868
Ph:        (714) 542-2146
Fax:      (714) 542-2147
	 
	The Rouse Company
Scott Rouse
19443 Laurelpark Road, #105
Rancho Dominguez, CA 90220
Ph:        (310) 764-4695
Fax:      (310) 764-4313

	 
	 
	 
	 
	 

	Universal Flooring Systems
Mike Bastien
7291 Heil Avenue
Huntington Beach, CA 92647
Ph:        (714) 375-5500
Fax:      (714) 375-5505
	 
	Invironmentalists
Scott Sidlow
15651 Saticoy Street
Van Nuys, CA 91406
Ph:        (818) 374-5218
Fax:      (949) 588-1996
	 
	Tangram Interiors
C. Stuart Byron
9200 Sorensen Avenue
Santa Fe Springs, CA 90670
Ph:        (562) 365-5026
Fax:      (562) 365-5027

Schedule 2 to Exhibit B Page 4

	
					
	Independent Flooring Contractors
Bernie Guevara
550 Patrice Place, Unit D
Gardena, CA 90248
Ph:        (310) 324-1111
Fax:      (310) 324-0707
	Western Commercial Flooring
Walter Green
16306 Bloomfield Avenue
Cerritos, CA 90703
Ph:        (562) 921-9000
Fax:      (562) 921-9002
	 
	 

	 
	 
	 
	 
	 

	GLASS & GLAZING

	 
	 
	 
	 
	 

	Rountree Glass
Don Rountree
622 West Colorado Street
Glendale, CA 91204
Ph:        (818) 246-1785
Fax:      (213) 245-1904
	 
	La Habra Glass, Inc.
Gary Gilbert
210 East Industry Avenue
La Habra, CA 90631
Ph:        (714) 992-1181
Fax:      (714) 992-0322
	 
	Giroux Glass, Inc.
Joe Tinker
1045 West 24th Street
Los Angeles, CA 90007
Ph:        (213) 747-7406
Fax:      (213) 747-8778

	 
	 
	 
	 
	 

	Gold Coast Glass
2930 College Avenue
Costa Mesa, CA 92626
Ph:        (714) 557-7212
Fax:      (714) 549-1509
	 
	 
	 
	 

	 
	 
	 
	 
	 

	MILLWORK
	 
	 
	 
	 

	 
	 
	 
	 
	 

	Millcraft, Inc.
Lars Eppink
2850 East White Star Avenue
Anaheim, CA 92806
Ph:        (714) 632-9621
Fax:      (714) 632-3148
	 
	Seeley Brothers
Dave Seltzer
312 Oak Place, Building A
Brea, CA 92821
Ph:        (714) 224-3949
Fax:      (714) 224-3957
	 
	Artcrafters Cabinets, Inc.
Bob Schindler
5446 Cleon Avenue
North Hollywood, CA 91601
Ph:        (818) 752-8960
Fax:      (213) 877-1941

	 
	 
	 
	 
	 

	MILLWORK (con't).)
	 
	 
	 
	 

	 
	 
	 
	 
	 

	Western Wood
Don Nelson
1701 Fashion
Long Beach, CA 90813
Ph:        (562) 491-3482
Fax:      (562) 437-1448
	 
	Global Fixtures
Dave Fish
6461 Global Drive
Cypress, CA 90630
Ph:        (714) 229-0001
Fax:      (714) 229-4863
	 
	Patella Inc.
Jim Vandereaa
661 Brea Canyon Road, #5
Walnut, CA 91789
Ph:        (909) 444-9102
Fax:      (909) 444-9109

Schedule 2 to Exhibit B Page 5

	
					
	ACOUSTICAL CEILINGS

	 
	 
	 
	 
	 

	Hutchinson Corporation
Don Trapp
2250 South Central Avenue
Rancho Dominguez, CA 90220
Ph:        (310) 763-7991
Fax:      (310) 763-4381
	 
	Ceiling Concepts
Chuck Tunnalippe
14535 Woodruff Avenue
Bellflower, CA 90706
Ph:        (562) 493-8521
Fax:      (562) 493-8742
	 
	Martin Integrated
Marty Hovivian
2330 North Pacific
Orange, CA 92865
Ph:        (714) 998-9100
Fax:      (714) 988-1414

	 
	 
	 
	 
	 

	ECL Acoustics
Ed Lukas
4126 Hitch Blvd.
Moorpark, CA 93021
Ph:        (323) 864-3892
Fax:      (323) 553-0403
	 
	Elljay Acoustics, Inc.
526 West Blueridge Avenue
Orange, CA 92665
Ph:        (714) 974-7171
Fax:      (714) 637-9451
	 
	 

	 
	 
	 
	 
	 

	STONE & TILE WORK

	 
	 
	 
	 
	 

	Carnevale & Lohr
Tony Reta
6521 Clara Street
Bell Gardens, CA 90201
Ph:        (562) 927-8311
Fax:      (562) 806-2797
	 
	R.E. Smith Company
Robert Smith
10012 Commerce Avenue
Tujunga, CA 91042
Ph:        (818) 352-8897

	 
	DBM /Hatch Inc.
Ty Harding
640 Arrow Highway
Le Verne, CA 91750
Ph:        (909) 592-7988
Fax:      (909) 592-0841

	 
	 
	 
	 
	 

	Rucker Tile Company
Loren Rucker
16526 Arminta Street
Van Nuys, CA 91406
Ph:        (818) 902-1216
Fax:      (818) 902-1147
	 
	SC Stone Company
Anthony Carreon
20131 Ferndoc Street
Walnut, CA 91789
Ph:        (909) 594-2878
Fax:      (909) 594-7128
	 
	 

	 
	 
	 
	 
	 

	DOORS, FRAMES & HARDWARE

	 
	 
	 
	 
	 

	S&S Hardware
Ron Swanson
1111 East Grand Avenue
El Segundo, CA 90245
Ph:        (213) 322-9404
Fax:      (213) 322-4818
	 
	Seeley Brothers
Dave Seltzer
312 Oak Place, Building A
Brea, CA 92621
Ph:        (714) 990-6150
Fax:      (714) 900-1216
	 
	L.A. Custom Doors
Louis Bedini.
971 Patridge Avenue
Los Angeles, CA 90039
Ph:        (323) 660-0669
Fax:      (323) 660-1699

	 
	 
	 
	 
	 

	Montgomery Hardware
5314 N. Irwindale Avenue, #3C
Irwindale, CA 91706
Ph:        (818) 814-0291
Fax:      (818) 814-0283
	 
	Calinco Corporation
7600 Stage Road
Buena Park, CA 90621
Ph:        (714) 739-4908
Fax:      (714) 739-4909
	 
	 

Schedule 2 to Exhibit B Page 6

	
					
	SECURITY

	 
	 
	 
	 
	 

	API Security, Inc.
Jennifer Hays
2025 East Curry Street
Long Beach, CA 90805
Ph:        (800) 274-5465
Fax:      (562) 984-8075
	 
	ASSI
Bill Vuno
1360 Reynolds Avenue
Irvine, CA 92614
Ph:        (949) 955-0244
Fax:      (949) 955-0243
	 
	ADT
William Kelly
14536 Archwood Street
Van Nuys, CA 91405
Ph:        (818) 781-4510

	 
	 
	 
	 
	 

	SECURITY (con't.)

	 
	 
	 
	 
	 

	Honeywell Control Services
Dean Wickwar
6 Centerpointe Drive, Suite 300
La Palma, CA 90623
Ph:        (714) 796-7536
Fax:      (714) 796-7555
	 
	Climatec Building Technologies Group
Tom Holland.
18002 Cowan
Irvine, CA 92614
Ph:        (949) 510-1845

	 

	 
	 
	 
	 
	 

	DATA / COMMUNICATION

	 
	 
	 
	 
	 

	Pinnacle
Avo Amirian
730 Fairmont Avenue
Glendale, CA 91203
Ph:        (818) 241-6009
Fax:      (818) 241-6880
	 
	Summit Riser
Mike Cameron
17981 Skypark Circle, Suite O
Irvine, CA 92614
Ph:        (949) 251-9266
Fax:      (949) 251-9270
	 
	Vector Resources
Ken Godachy
3530 Voyager Street
Torrance, CA 90503
Ph:        (310) 436-1071
Fax:      (310) 436-1177

	 
	 
	 
	 
	 

	Data Specialties
8400 Kass Drive
Buena Park, CA 90261
Ph:        (714) 523-8489
Fax:      (714) 523-1861
	 
	Irish Communications
13954 East Valley Blvd.
La Puente, CA 91746
Ph:        (626) 968-3399
Fax:      (626) 968-3328
	 
	 

Schedule 2 to Exhibit B Page 7

	
					
	WINDOW COVERING

	 
	 
	 
	 
	 

	Pacific Shading Systems
Doug Sherbourne
1010 N. Central, Suite 230
Glendale, CA 91202
Ph:        (818) 815-9623
Fax:      (818) 245-1348
	 
	 
	 
	 

	 
	 
	 
	 
	 

	SIGNAGE

	 
	 
	 
	 
	 

	CA Signs
Diego Duarte
10280 Gleanoaks Blvd.
Pacoima, CA 91331
Ph:        (818) 899-1888
Fax:      (800) 636-6696
	 
	Weidner Architectural Signage
Arie Korver
5001 24th Street
Sacramento, CA 95822
Ph:        (916) 454-7417
Fax:      (916) 452-3331
	 
	 

	 
	 
	 
	 
	 

	DEMOLITION

	 
	 
	 
	 
	 

	Interior Removal Specialists
Carlos Herrera
9309 Rayo Avenue
South Gate, CA 90280
Ph:        (323) 357-6900
Fax:      (323) 357-9400
	 
	Rogma
Raul Mata
1328 Willow Street
Los Angeles, CA 90013
Ph:        (213) 620-1144
Fax:      (213) 620-0407
	 
	 

Schedule 2 to Exhibit B Page 8

SCHEDULE 3
ACM ABATEMENT WORK

SPECIFICATIONS
for
ASBESTOS ABATEMENT

UNION BANK PLAZA
445 SOUTH FIGUEROA STREET
20TH FLOOR
LOS ANGELES, CALIFORNIA 90071

October 1, 2008

Prepared for:

Hines
445 South Figueroa Street, 37th floor
Los Angeles, California

Designed by:
Clark SEIF CLARK, INC.
8875 Research Drive
Irvine, California 92618

	
			
	 
	SCHEDULE 3
-2-
	UNION BANK PLAZA
[Union Bank Lease]

Schedule 3 to Exhibit B Page 1

Schedule 3 to Exhibit B Page 2

Schedule 3 to Exhibit B Page 3

Schedule 3 to Exhibit B Page 4

Schedule 3 to Exhibit B Page 5

Schedule 3 to Exhibit B Page 6

Schedule 3 to Exhibit B Page 7

Schedule 3 to Exhibit B Page 8

Schedule 3 to Exhibit B Page 9

Schedule 3 to Exhibit B Page 10

Schedule 3 to Exhibit B Page 11

Schedule 3 to Exhibit B Page 12

Schedule 3 to Exhibit B Page 13

Schedule 3 to Exhibit B Page 14

Schedule 3 to Exhibit B Page 15

Schedule 3 to Exhibit B Page 16

Schedule 3 to Exhibit B Page 17

Schedule 3 to Exhibit B Page 18

Schedule 3 to Exhibit B Page 19

Schedule 3 to Exhibit B Page 20

EXHIBIT "C"
INTENTIONALLY OMITTED

Exhibit C Page 1Exhibit

 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT
This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Agreement”), by and between MRV Communications, Inc., a Delaware corporation (the “Company”), and Mark Bonney (the “Executive”), is dated as of March 16, 2016.
RECITALS
WHEREAS, Executive has been serving as President and Chief Executive Officer of the Company pursuant to an employment agreement dated as of December 12, 2014 (the “Prior Agreement”);
WHEREAS, Executive and the Company desire to update and otherwise make some modifications to the Prior Agreement in the form of an amended and restated employment agreement.
AGREEMENT
NOW THEREFORE, in consideration of the mutual covenants and agreements of the parties set forth in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties agree as follows:
1.Termination of Prior Agreement.  Effective as of the date hereof, the Prior Agreement is terminated and shall have no further force or effect. This Agreement supersedes the Prior Agreement in its entirety. 
2.    Employment.  Executive shall be employed as the President and Chief Executive Officer of the Company pursuant to this Agreement. 
2.1    Duties and Responsibilities.  Executive will have the authority, duties and responsibilities customarily associated with the positions of President and Chief Executive Officer, consistent with the Company’s by-laws and applicable law. Executive will have such additional duties and responsibilities commensurate with his position as the Company’s Board of Directors (the “Board”) may assign to him from time to time. Executive will report directly to and be subject to the control and direction of the Board. The Executive will observe and adhere to all applicable written Company policies and procedures in effect from time to time, including, without limitation, policies on business ethics and conduct, and policies on the use of inside information and insider trading.
3.    Compensation.  Executive’s annual rate of salary will be $400,155, which is subject to change at the Company’s sole discretion. Executive’s salary shall be payable in accordance with the Company’s regular payroll practices.  
3.1    Bonus.  The Executive will be eligible to participate in MRV’s Executive Management Incentive Plan (“EMIP”) or its functional equivalent with a target bonus of 80% of base salary, which target and plan in future years are subject to change at the Company’s sole discretion. 

    

 

3.2    Employee Benefits.  Executive will be eligible to participate in such retirement, welfare and other employee benefit and fringe benefit plans as may be maintained or provided by the Company from time to time.
4.    Termination at the Company’s Convenience.  Subject to the provisions hereof (including the release and restrictive covenant conditions set forth in Section 9), the following payments and benefits will be provided to the Executive by the Company (in addition to any non-duplicative compensation or benefits to which the Executive may otherwise be entitled under any other agreement, plan or arrangement with the Company) in the event of a Separation from Service (as defined in Section 7.1 below) of the Executive.
4.1    Separation Payment.  In the event of the Executive’s Separation from Service, subject to Section 5 below, the Company shall pay to the Executive an amount equal to the aggregate amount of twelve (12) months of the Executive’s base salary as in effect immediately prior to the Separation from Service, less lawful deductions.  Such amount will be paid to Executive in equal installments on the Company’s regularly scheduled paydays during the twelve-month period immediately following the date of Executive’s Separation from Service.
4.2    Benefits.  In the event that Executive elects continuation coverage under COBRA, the Company will pay the premiums for Executive’s participation in the medical, dental and vision programs provided to the Executive prior to the date of Separation from Service or provide equivalent benefits at the Company’s expense, for a period of  twelve (12) months beginning on the date Executive’s participation in the Company’s group health plan(s) would otherwise terminate, but in no event later than the date the Executive becomes eligible for comparable benefits under a group health plan of another employer.  The Company shall also pay to the Executive all accrued salary and accrued but unused vacation time owed to Executive up to the date of the Separation from Service (which shall not be subject to the release condition of Section 9.1).. 
5.    Termination after a Change in Control.  In the event of a Separation from Service of the Executive during an 18-month period beginning on the date of a Change in Control (as defined in Section 7.4 below) of the Company, Section 4 shall not apply, and the Company shall make the following payments to the Executive (subject to the provisions hereof, including Section 9):
5.1    Lump Sum Payment.  The Company shall pay to Executive a lump sum cash payment equal to the aggregate amount of twenty-four (24) months of the Executive’s base salary as in effect immediately prior to the Separation from Service, which amount will be payable on the date determined under Section 9.1.
5.2    COBRA.  To the extent that Executive elects continuation coverage under COBRA for himself (and/or his covered spouse and dependents), the Company will pay the premiums for such COBRA coverage for 18 months and, for a period of 6 months thereafter, the Company will pay or reimburse the Executive for payment of premiums for comparable individual health insurance coverage for the Executive (and/or his covered spouse and 

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dependents); provided that the Company’s obligation to make any such premium payments will in no event extend beyond the date on which the Executive becomes eligible for comparable benefits under a group health plan of another employer.
5.3    Accelerated Vesting.  All of the unvested stock options or other equity awards for each grant that the Executive has previously received shall vest.  All such vested awards shall be administered and, as applicable, paid in accordance with the terms of the governing plan or program.
For purposes of clarity, the amounts of severance set forth in Sections 4.1 and 5.1 and the health coverage premium benefits under Sections 4.2 and 5.2 are not additive, and the Executive shall receive a maximum amount of severance pay of twenty-four (24) months of base salary (under Section 5.1) and maximum health coverage premium benefits for a potential maximum 24-month period (under Section 5.2). 
6.    Termination Due to Disability or Death.  The Company may terminate Executive’s employment before the end of the Term due to “Disability” if Executive is unable to substantially perform the essential duties and responsibilities of his employment for at least 90 consecutive calendar days or 120 or more calendar days during any calendar day period by reason of physical or mental incapacity. Executive acknowledges that, if he incurs a Disability as described in the preceding sentence, he will have become unable to perform the essential functions of his position and there would be no reasonable accommodation which would not constitute an undue hardship to the Company that the Company could make due to the nature of his position. No minimum notice is required for a termination due to Executive’s Disability. If Executive dies before the end of the Term, his employment will terminate on the date of his death.
6.1    Payment Upon Termination Due to Disability or Death.  If Executive’s employment is terminated pursuant to Section 6 by reason of his death or Disability, then, subject to Section 9, Executive (or, as applicable, his spouse, covered dependents and/or beneficiaries) shall receive the payments and benefits the Executive (or, as applicable, his spouse, covered dependents and/or beneficiaries) would have been entitled to receive pursuant to Section 4 if, instead of terminating due to death or Disability, the Executive’s employment had been terminated by the Company without Cause on the date of actual termination.
6.2    Duty to Return Company Documents and Property.  Upon the termination of Executive’s employment with the Company for any reason, Executive shall immediately return and deliver to the Company any and all papers, books, records, documents, memoranda and manuals, email, electronic or magnetic recordings or data, including all copies thereof, belonging to the Company or any of its subsidiaries or relating to the business of the Company or any of its subsidiaries, in Executive’s possession, whether prepared by Executive or others.  If at any time after the termination of employment, Executive determines that he has any trade secrets or other confidential information belonging to the Company or any of its subsidiaries in his possession or control, Executive shall immediately 

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return to the Company all such trade secrets and other confidential information, including all copies and portions thereof.
7.    Definitions.  
7.1    Separation from Service.  “Separation from Service” means the Executive’s “separation from service” (within the meaning of Section 409A of the Code) from the Company occurring as a result of the Executive’s termination of employment either: (a) by the Company without Cause (as defined below); or (b) by the Executive with Good Reason (as defined below).  Termination of the Executive’s employment under any other circumstances shall not constitute a Separation from Service for purposes of the Executive’s eligibility to receive payments and benefits under Sections 4 and 5 of this Agreement.
7.2    Cause.  “Cause” is defined as the Executive’s (a) willful failure to perform the material duties of the Executive’s position after receiving written notice of such failure and being given twenty days to cure such failure; (b) willful misconduct injurious to the Company;  (c) conviction of, or plea of nolo contendere to, a felony or any other crime involving moral turpitude, or (d) material breach of this Agreement, which breach is not cured within 20 days after written notice to Executive from the Company.  No act or failure to act on the part of the Executive shall be considered “willful” unless it is done or omitted to be done in bad faith or without reasonable belief that the action or omission was in the best interest of the Company. 
7.3    Good Reason.  “Good Reason” shall mean, without the Executive’s written consent: (a) a material diminution in the Executive’s duties or responsibilities; (b) the Company requires the Executive, without his consent, to be based at a location which is more than 50 miles from the Executive’s Principal Work Location as of the date of the request; or (c) the Executive’s base salary is reduced.  Notwithstanding the above, (x) any reduction in base salary, annual short-term incentive compensation, bonus or other such payments that affects substantially all U.S. employees, shall not constitute Good Reason and (y) provided that following a Change in Control transaction the Executive remains employed by the Company, a change in the Executive’s duties or responsibilities following such transaction shall not constitute Good Reason under clause (a) of this paragraph above.  In addition, the Executive agrees that a termination of employment shall not be deemed to be for Good Reason unless (i) the Executive gives the Company written notice describing the event or events which are the basis for such termination within 45 days after the event or events occur, (ii) such grounds for termination (if susceptible to correction) are not corrected by the Company within 45 days of the Company’s receipt of such notice, and (iii) the Executive terminates employment no later than 30 days after the expiration of the cure period described in clause (ii) of this paragraph.
7.4    Change in Control.  A “Change in Control” shall take place on the date of the earlier to occur of any of the following events:
        (a)   the acquisition by any "person" as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than (i) a subsidiary of the Company, (ii) any trustee or other 

- 4 -

 

fiduciary holding securities under any employee benefit plan of the Company, or (iii) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company) of beneficial ownership (within the meaning of Rule l3d-3 under the Exchange Act), of securities of the Company representing more than 50% of the combined voting power of the Company's then outstanding securities, other than an acquisition directly from the Company;

        (b)   the consummation of a merger, consolidation or other form of reorganization involving the Company unless all or substantially all of the persons who were the beneficial owners of the voting securities of the Company immediately prior to such merger, consolidation or reorganization beneficially own more than 50% of the combined voting power of the securities of the Company (or the surviving entity or any parent thereof, as the case may be) that are outstanding immediately after such merger, consolidation or reorganization in substantially the same proportion as their ownership of the voting securities of the Company immediately prior to such merger, consolidation or reorganization; or

(c)   the consummation of a complete liquidation or dissolution of the Company, or of a sale or disposition of all or substantially all of the Company's assets (whether in one transaction or a series of related transactions), unless all or substantially all of the persons who were the beneficial owners of the voting securities of the Company immediately prior to such sale or disposition beneficially own more than 50% of the combined voting power of the securities of the person or entity that acquires such assets that are outstanding immediately after such sale or disposition.
Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because fifty percent (50%) or more of the then outstanding Voting Securities is acquired by (1) a trustee or other fiduciary holding securities under one or more employee benefit plans maintained by the Company or any of its subsidiaries, (2) any corporation which, immediately prior to such acquisition, is owned directly or indirectly by the shareholders of the Company in the same proportion as their ownership of stock in the Company immediately prior to such acquisition, or (3) any Person who, as of the date hereof, owns more than 25% of the outstanding Voting Securities. 
7.5    Principal Work Location. “Principal Work Location” the location of the Executive’s primary residence as it now exists or is later changed.
8.    Section 409A.  It is intended that any amounts payable to the Executive under this Agreement will be exempt from the provisions of Section 409A of the Internal Revenue Code of 1986 and the regulations issued thereunder (“Section 409A”). Nevertheless, if and to the extent that a payment under the Agreement is deemed to be subject to Section 409A (a “Covered Payment”), then, for the purposes of the Agreement and Section 409A:

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(a)    Each Covered Payment will be treated as a separate payment under Section 409A.
(b)    The term “termination of employment” or words of like import shall be deemed to mean a “separation from service” within the meaning of Section 409A. 
(c)    If the Executive is treated as a “specified employee” within the meaning of Section 409A at the time of the termination of the Executive’s employment, then any Covered Payment that would otherwise be due within six months after such termination of employment will be delayed until the first business day of the seventh month following the date of termination or, if earlier, the date of the Executive’s death, to the extent such delay is required by Section 409A. On the delayed payment date, the Executive (or, if applicable, the deceased Executive’s estate) will receive a catch-up payment equal to the aggregate amount of the Covered Payments that were delayed pursuant to the preceding sentence. At the time of Executive’s Separation from Service, if any payments are delayed pursuant to this subsection, the Executive shall have the right to request that an amount equal to the delayed payment amount be placed in escrow solely for the purpose of paying the Executive the delayed payments.
(d)    Notwithstanding the foregoing, the Executive shall be solely responsible for, and the Company shall have no liability for or with respect to any taxes, acceleration of taxes, interest or penalties arising under Section 409A.
9.    Executive Release and Representations.  
9.1    Release Required; Time of Payment.  The Executive’s right to receive or retain the payments and benefits described in Sections 4, 5 and 6 shall be conditioned upon the Executive’s delivery to the Company and non-revocation of a general release and waiver of all claims substantially in the form as set forth in Exhibit A hereto; provided, however, that, such release will not  waive any rights the Executive may have (a) to enforce the Executive’s rights under this Agreement, or (b) to indemnification and directors and officers liability insurance coverage. The release condition must be satisfied (and the release must become irrevocable), if at all, within 60 days after the Executive’s termination of employment. If it is not satisfied within that time, the Executive will not be entitled to receive or retain the severance payments and benefits to which he would otherwise be entitled under Sections 4, 5 and 6. If the release condition is satisfied, the severance payments that are subject to the release condition under this paragraph will be made on the day following the date on which the release condition is satisfied, provided that, if the 60-day period during which the release condition may be satisfied straddles two calendar years, payment will be made or begin on the later of the date on which the release condition is satisfied and January 2 of the calendar year following the calendar year in which the Executive’s termination of employment occurs. On the deferred payment date, the Executive will receive a catch-up payment equal to the aggregate amount that otherwise would have been received by such date. If the release condition is not satisfied by the Employee, the Company will be entitled to recoup the amount of any premiums it may have paid for group health continuation coverage under Section 4.2 or 5.2.

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9.2    Non-Solicitation.  The Executive agrees that, during his employment with the Company and for the period of one year beginning from the date of the Executive’s Separation from Service, Executive shall not, directly or indirectly or by action in concert with others, hire current or former employees, agents, independent contractors, or other service providers of the Company (which shall for this purpose only include individuals employed by the Company at any point during the 12 months preceding such hiring), disrupt, damage, impair or interfere with the Company’s relationships with its work staff, or induce or influence (or seek to induce or influence) any person who is engaged (as an employee, agent, independent contractor, or otherwise) by the Company to alter or terminate his employment or engagement, except in the good faith performance of the Executive’s duties on behalf of the Company; provided that the Executive may serve as a reference for such individuals and actions taken by any person or entity with which the Executive is associated if the Executive is not, directly or indirectly, personally involved in such solicitation and has not identified such individual for soliciting will not be considered a violation for purposes of this Section 9.2.  This shall not be construed to prohibit general solicitations of employment through the placing of advertisements.
9.3    Non-Competition Restrictions.  During the period of Executive’s employment and for one year thereafter, Executive shall not, directly or indirectly, without the prior written consent of the Company, engage in, become financially interested in, be employed by, render any consultation or business advice with respect to, or have any connection with, any business engaged in the research, development, testing, design, manufacture, sale, lease, marketing, utilization or exploitation of any products or services which are designed for the same purpose as, are similar to, or are otherwise competitive with, products or services of the Company or any of its subsidiaries, in any geographic area where, during the period of his employment with the Company or any subsidiary or at the time of the termination of his employment or other service with the Company and its subsidiaries, as the case may be, the business of the Company or any of its subsidiaries was being conducted or was proposed to be conducted in any manner whatsoever; provided, however, that Executive’s mere purchase or holding, for investment purposes, of securities representing less than 3% of the outstanding value or voting interest of a publicly traded company shall not be deemed to be a violation of the provisions of this paragraph.
9.4    Non-Disparagement.  The Executive agrees that, while he is employed by the Company and thereafter, he will not, or encourage or induce others to, Disparage the Company or any of its past and present officers, directors, employees, stockholders, products or services.  “Disparage” includes, without limitation, making comments or statements to the press, the Company’s employees or any individual or entity with whom the Company has a business relationship (including, without limitation, any vendor, supplier, customer or distributor of the Company) that could adversely affect in any manner: (a) the conduct of the business of the Company (including, without limitation, any products or business plans or prospects); or (b) the business reputation of the Company, or any of its products or services, or the business or personal reputation of the Company’s past or present officers, directors, employees or stockholders.  Nothing herein shall prohibit the Executive (i) from responding truthfully to any governmental investigation, legal process or inquiry related thereto, (ii) 

- 7 -

 

from making traditional competitive statements in the course of promoting a competitive business, so long as any statements described in this clause (ii) do not intentionally Disparage the Company or any of its past and present officers, directors, employees, stockholders, products or services and are not based on Confidential Information obtained during the course of the Executive’s employment with the Company, (iii) from making statements in the course of the good faith performance of the Executive’s assigned duties and responsibilities and for the benefit of the Company or in order to in good faith enforce the Executive’s rights under this Agreement, (iv) from rebutting untrue or misleading statements in good faith.  This Section 9.4 is made and entered into solely for the benefit of the Company and its successors and permitted assigns, and no other person or entity shall have any cause of action hereunder.
9.5    Transition and Other Assistance.  Executive agrees to provide the Company with at least 30 days prior written notice of his resignation from the Company.  During the 30 day period after notice of resignation  of the Executive’s employment has been given, the Executive agrees to take all actions the Company may reasonably request to maintain the Company’s business, goodwill and business relationships and to assist with transition matters.  In addition, the Executive agrees that while he is employed by the Company and thereafter, he will respond and provide information with regard to matters in which he has knowledge as a result of his employment with the Company, and will provide assistance to the Company and its representatives in the defense or prosecution of any claims that may be made by or against the Company, to the extent that such claims may relate to the period of his employment with the Company.  The Executive agrees to promptly inform the Company if he becomes aware of any lawsuits involving such claims that may be filed or threatened against the Company.  The Executive also agrees to promptly inform the Company (to the extent he is legally permitted to do so) if he is asked to assist in any investigation of the Company (or its actions), regardless of whether a lawsuit or other proceeding has then been filed against the Company with respect to such investigation, and will not do so unless legally required.  Upon presentment to the Company of appropriate documentation, the Company will compensate the Executive at a customary per diem consulting fee in effect at the time, plus reasonable expenses, in connection with any actions requested by the Company under this Section 9.5 following a Separation from Service.  Following a Separation from Service, the Company agrees that it will coordinate any such request for assistance with the Executive’s other business or professional commitments and responsibilities to minimize the degree to which such request interferes with such commitments and responsibilities.
9.6    Resignations.  Upon termination of the Executive’s employment for any reason, the Executive shall be deemed to have resigned from (a) all officer or other positions of the Company and (b) all fiduciary positions (including as trustee) the Executive holds with respect to any pension plans or trusts established by the Company.  Executive agrees to submit a letter of resignation from the Board of Directors of the Company and any of its affiliates upon termination of Executive’s employment. 

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The obligations contained in this Section 9 shall survive the termination of the Executive’s employment with the Company for any reason and shall be fully enforceable thereafter.  The Company may bring an action or proceeding to temporarily, preliminarily or permanently enforce this Section 9.  The Executive agrees that (i) violating any part of this Section 9 would cause damage to the Company that cannot be measured or repaired and that the Company’s remedies at law for a breach or threatened breach of any of the provisions of this Section 9 would be inadequate, (ii) the Company therefore is entitled to an injunction, restraining order or other equitable relief restraining any actual or threatened violation of this Section 9 in addition to any remedies at law, (iii) no bond will need to be posted for the Company to receive such an injunction, order or other relief, and (iv) no proof will be required that monetary damages for violations of this Section 9 would be difficult to calculate and that remedies at law would be inadequate.  In addition, in the event of a violation by the Executive of this Section 9, any severance payments or benefits being paid to the Executive pursuant to this Agreement or otherwise shall immediately cease and any severance previously paid to the Executive shall be immediately repaid to the Company.
10.    Miscellaneous.  
10.1    Entire Agreement.  This Agreement supersedes any prior agreements or understandings, oral or written, between the Executive and the Company with respect to the subject matter hereof, and constitutes the entire agreement of the parties with respect thereto.
10.2    Modification.  This Agreement shall not be varied, altered, modified, cancelled, changed or in any way amended except by mutual agreement of the parties in a written instrument executed by the parties or their legal representatives.
10.3    Severability.  In the event that any provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason, the remaining provisions of this Agreement shall be unaffected and shall remain in full force and effect.
10.4    Tax Withholding.  The Company may withhold all Federal, state, city or other taxes required pursuant to any law or governmental regulation or ruling.
10.5    No Offset or Mitigation.  All amounts payable by the Company hereunder shall be paid without notice or demand.  The Executive shall not be obligated to seek other employment in mitigation of the amounts payable or arrangements made under this Agreement, and the obtaining of any other employment shall not result in a reduction of the Company’s obligations to make the payments, benefits and arrangements required to be made under this Agreement.
10.6    Confidentiality.  The Executive understands that, in the course of employment with the Company, the Executive has been, and will be, given access to confidential information and trade secrets concerning the Company and its businesses and shall during his employment with the Company and thereafter retain in confidence and not directly or indirectly reveal, report, publish, disclose, or transfer such confidential information and trade secrets to any person or entity, or utilize any confidential information 

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and trade secrets for any purpose, except in the good faith performance of the Executive’s duties on behalf of the Company.  Notwithstanding the foregoing, “confidential information” shall not apply to information that (i) was known to the public prior to its disclosure to the Executive; (ii) becomes generally known to the public subsequent to disclosure to the Executive through no wrongful act of the Executive or any representative of the Executive; or (iii) the Executive is required to disclose by applicable law, regulation or legal process (provided that the Executive provides the Company with prior notice of the contemplated disclosure and reasonably cooperates with the Company at its expense in seeking a protective order or other appropriate protection of such information).  The Executive agrees to turn over all copies of confidential information and trade secrets in his control to the Company upon request or upon termination of his employment with the Company.
10.7    Successors.  This Agreement shall be binding upon and inure to the benefit of the Executive and his estate, and the Company and any successor of the Company or affiliate of a successor to the Company, but neither this Agreement nor any rights arising hereunder may be assigned or pledged by the Executive.  All references in this Agreement to the Company shall include its subsidiaries and affiliates and any successors, affiliates of successors or assigns of the Company.  Any successor of the Company shall be deemed substituted for all purposes of the “Company” under the terms of this Agreement.  As used in this Agreement, the term “successor” shall mean any person, firm, corporation or business entity or affiliate thereof which at any time, whether by merger, purchase or otherwise, directly or indirectly acquires all or substantially all of the assets or the business of the Company, including any entity that shall be the surviving corporation in a merger with the Company or the acquiring person or affiliate of the acquiring person in an acquisition of the Company and/or of all or substantially all of its business or assets, regardless of whether such transaction constitutes a change of control.  In all cases, the Company or successor shall remain jointly and severally liable for all obligations hereunder.
10.8    Governing Law.  To the extent not preempted by Federal law, the provisions of this Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York.  Any disputes arising out of this Agreement or Executive’s employment with the Company shall be commenced solely in the federal or state courts located in the City of New York.  
10.9    Notice.  Any notices, requests, demands or other communications required by or provided for in this Agreement shall be sufficient if in writing and sent by either party by personal delivery, recognized overnight commercial courier, or registered or certified United States mail to the Executive at the last address  shown on the records of the Company or, in the case of the Company, at its principal office, or to such other address as either party may have furnished to the other in writing in accordance herewith, and shall be deemed to have been duly given when delivered or five days after deposit in the United States mail (except that notices of change of address shall be effective only upon receipt (or refusal of receipt)).

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10.10    Scope of Agreement.  Nothing in this Agreement shall be deemed to alter the “at-will” nature of the Executive’s employment or entitle the Executive to continued employment with the Company.
10.11    Claw Back Conditions.  Notwithstanding any other provisions in this Agreement to the contrary, any incentive based or other compensation paid or payable to the Executive pursuant to this Agreement or any other agreement or arrangement with the Company which is subject to recovery under any Company policy, law, government regulation, order or stock exchange listing requirement, whether now or hereafter adopted or enacted, will be subject to such deductions and recoupment by the Company as may be required in order to comply with any such policy, law, government regulation, order, stock exchange listing requirement. The Executive specifically authorizes the Company to withhold from his future wages any amounts that may become due under this provision. This Section 10.11 shall survive the termination of this Agreement for a period of three years. 
10.12    Counterparts.  This Agreement may be executed (including by facsimile or scanned electronic mail transmission) in counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Executive and the Company have executed this Agreement as of the date first above written.
	
					
	 
	 
	 
	 
	 

	MRV COMMUNICATIONS, INC.
	 
	EXECUTIVE

	 
	 
	 
	 
	 

	By:
	/s/ Kenneth Traub     
	 
	By:
	/s/ Mark Bonney

	Name:
	Kenneth Traub
	 
	 
	Mark Bonney

	Title:
	Chairman of the Board
	 
	 
	 

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EXHIBIT A 
FORM OF RELEASE
I, Mark Bonney, in consideration of certain payments and benefits provided to me by MRV Communications, Inc. (together with its subsidiaries, the “Company”), do hereby release and forever discharge as of the date hereof the Company and its and their present and former directors, officers, agents, representatives, employees, attorneys, predecessors, successors and assigns of the Company (collectively, the “Released Parties”) to the extent provided below.
		
	1.
	I understand that any payments or benefits paid or granted to me represent, in part, consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled.  I understand and agree that I will not be entitled to receive or retain the payments and benefits specified in Sections 4, 5 or 6 of the Employment Agreement between me and the Company, dated to which this General Release is attached as an Exhibit (the “Agreement”), unless I execute and effectuate this General Release.  Such payments and benefits will not be considered compensation for purposes of any employee benefit plan, program, policy or arrangement maintained or hereafter established by the Company or its affiliates.  I also acknowledge and represent that I have received all payments and benefits that I am entitled to receive (as of the date hereof) by virtue of any employment by the Company.

		
	2.
	Except with respect to obligations to me under the Agreement that expressly survive the termination of my employment with the Company, I knowingly and voluntarily (on behalf of myself, my spouse, my heirs, executors, administrators, agents and assigns, past and present) fully and forever release and discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action, cross‐claims, counter‐claims, demands, debts, liens, contracts, covenants, suits, rights, obligations, expenses, judgments, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, orders and liabilities of whatever kind or nature, in law and in equity, in contract or in tort, both past and present (through the date this General Release becomes effective and enforceable) and whether known or unknown, vested or contingent, suspected, or claimed, against the Company or any of the Released Parties which I, my spouse, or any of my heirs, executors, administrators or assigns, may have, which arise out of or are connected with my employment with, or my separation or termination from, the Company (including, but not limited to, any allegation, claim or violation arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers Benefit Protection Act); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; or their state or local counterparts; including the Massachusetts Fair Employment Law, the California Fair Employment and Housing Act, the New Jersey Law Against Discrimination, the New Jersey Conscientious Employee  Protection Act, the similar or equivalent laws of South Carolina or under any other federal, state or local civil or human rights law, or under any other local, state, or federal law, regulation or ordinance; or under any public policy, contract or tort, or under common law; or arising under any policies, practices or procedures of the Company; or any claim for wrongful discharge, breach of contract, infliction 

    

 

of emotional distress, defamation; or any claim for costs, fees, or other expenses, including attorneys’ fees incurred in these matters) (collectively, the “Claims”).
		
	3.
	It is a further condition of the consideration herein and is my intention in executing this Agreement that the same shall be effective as a bar as to each and every claim, demand and cause of action hereinabove specified and, in furtherance of this intention, I hereby expressly waive any and all rights or benefits conferred by the provisions of SECTION 1542 OF THE CALIFORNIA CIVIL CODE and expressly consent that this Agreement shall be given full force and effect according to each and all of its express terms and conditions, including those relating to unknown and unsuspected claims, demands and causes of actions, if any, as well as those relating to any other claims, demands and causes of actions hereinabove specified.  SECTION 1542 provides: 

A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his settlement with the debtor. 
I acknowledge that I may hereafter discover claims or facts in addition to or different from those which I now know or believe to exist with respect to the subject matter of this Agreement and which, if known or suspected at the time of executing this Agreement, may have materially affected this settlement.  Nonetheless, I hereby waive any right, claim or causes of action that might arise as a result of such different or additional claims or facts.  I acknowledge that I understand the significance and consequence of such release and such specific waiver of SECTION 1542. I agree that this General Release will cover all claims of every nature and kind whatsoever, which you may have, known or unknown, suspected or unsuspected, past or present, which you may have against MRV Communications, Inc.
		
	1.
	I represent that I have made no assignment or transfer of any right, claim, demand, cause of action, or other matter covered by Section 2 above.

		
	2.
	IN SIGNING THIS GENERAL RELEASE, I ACKNOWLEDGE AND INTEND THAT IT SHALL BE EFFECTIVE AS A BAR TO EACH AND EVERY ONE OF THE CLAIMS, DEMANDS AND CAUSES OF ACTION HEREINABOVE MENTIONED OR IMPLIED.  I EXPRESSLY CONSENT THAT THIS GENERAL RELEASE SHALL BE GIVEN FULL FORCE AND EFFECT ACCORDING TO EACH AND ALL OF ITS EXPRESS TERMS AND PROVISIONS, INCLUDING THOSE RELATING TO UNKNOWN AND UNSUSPECTED CLAIMS (NOTWITHSTANDING ANY STATE STATUTE THAT EXPRESSLY LIMITS THE EFFECTIVENESS OF A GENERAL RELEASE OF UNKNOWN, UNSUSPECTED AND UNANTICIPATED CLAIMS), IF ANY, AS WELL AS THOSE RELATING TO ANY OTHER CLAIMS HEREINABOVE MENTIONED OR IMPLIED.  I ACKNOWLEDGE AND AGREE THAT THIS WAIVER IS AN ESSENTIAL AND MATERIAL TERM OF THIS GENERAL RELEASE AND THAT WITHOUT SUCH WAIVER THE COMPANY WOULD NOT HAVE AGREED TO THE TERMS OF THE AGREEMENT.  I FURTHER AGREE THAT IN THE EVENT I SHOULD BRING A CLAIM SEEKING DAMAGES AGAINST THE COMPANY, OR IN THE EVENT I SHOULD SEEK TO RECOVER AGAINST THE COMPANY IN ANY CLAIM 

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BROUGHT BY A GOVERNMENTAL AGENCY ON MY BEHALF, THIS GENERAL RELEASE SHALL SERVE AS A COMPLETE DEFENSE TO SUCH CLAIMS AS TO MY RIGHTS AND ENTITLEMENTS TO THE MAXIMUM EXTENT PERMITTED BY LAW.  I FURTHER AGREE THAT I AM NOT AWARE OF ANY PENDING CHARGE OR COMPLAINT OF THE TYPE DESCRIBED IN SECTION 2 AS OF THE EXECUTION OF THIS GENERAL RELEASE.
		
	3.
	I agree that I am waiving all rights to sue or obtain equitable, remedial or punitive relief from any or all Released Parties of any kind whatsoever, including, without limitation, reinstatement, back pay, front pay, attorneys’ fees and any other form of injunctive relief. Notwithstanding the above, I further acknowledge that I am not waiving and am not being required to waive any right that cannot be waived under law, including right to file administrative charge or participate in an administrative investigation or proceeding; provided, however, that I disclaim and waive any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding.

		
	4.
	I agree that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed or construed at any time to be an admission or acknowledgement by the Company, any Released Party or myself of any improper or unlawful conduct.

		
	5.
	I agree that I will (a) not be entitled to receive or retain the amounts and benefits described in Sections 4, 5 or 6 of the Agreement and (b) to the maximum extent permitted by applicable law, immediately return to the Company all amounts and the value of any benefits received by me by pursuant to Sections 4, 5 or 6 of the Agreement, in each case, if I challenge the validity of this General Release.  I also agree that if I violate this General Release by suing the Company or the other Released Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including but not limited to reasonable attorneys’ fees, and return all payments and the value of all benefits received by me pursuant to Sections 4, 5 and 6 of the Agreement.

		
	6.
	I agree and acknowledge that the provisions, conditions and negotiations of this General Release are confidential and agree not to disclose any information regarding the terms, conditions and negotiations of this General Release, nor transfer any copy of this General Release, communicate or disclose or otherwise refer or allude to the substance of this General Release to any person or entity, other than my immediate family and any tax, legal or other counsel I have consulted regarding the meaning or effect hereof or as required by applicable law, and I will instruct each of the foregoing not to disclose the same to anyone.

		
	7.
	Any non‐disclosure provision in this General Release does not prohibit or restrict me (or my attorney) from responding to any inquiry about this General Release or its underlying facts and circumstances by the Securities and Exchange Commission (SEC), the National Association of Securities Dealers, Inc. (NASD), any other self‐regulatory organization or governmental entity having authority over the Company.

		
	8.
	I agree to reasonably cooperate with the Company in any internal investigation, any administrative, regulatory, or judicial proceeding or any dispute with a third party. I 

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understand and agree that my cooperation may include, but not be limited to, making myself available to the Company upon reasonable notice for interviews and factual investigations; appearing at the Company’s request to give testimony without requiring service of a subpoena or other legal process; volunteering to the Company pertinent information; and turning over to the Company all relevant documents which are or may come into my possession all at times and on schedules that are reasonably consistent with my other permitted activities and commitments.  I understand that in the event the Company asks for my cooperation in accordance with this provision, the Company will reimburse me solely for reasonable travel expenses, (including lodging and meals), upon my submission of receipts. I understand that, to the extent permitted by its Certificate of Incorporation and By-laws and subject to applicable law, the Company will continue to indemnify, defend and hold me harmless from and against any claim, liability or expense (including reasonable attorneys’ fees) made against or incurred by me as a result of my employment with the Company or any subsidiary or other affiliate of the Company, including service as an officer or director of the Company or any subsidiary or other affiliate of the Company.
		
	9.
	I agree not to disparage the Company and its affiliates, its past and present investors, officers, directors, agents, employees, agents, services, products operations, prospects or other matters relating to the Company and to keep all confidential and proprietary information about the past or present business affairs of the Company and its affiliates confidential unless a prior written release from the Company is obtained.  I further represent that as of the date hereof, I have returned to the Company any and all property, tangible or intangible, electronic or otherwise, relating to its business, which I possessed or had control over at any time (including, but not limited to, company‐provided credit cards, building or office access cards, keys, computer equipment, manuals, files, documents, records, software, customer data base and other data) and that I have not retained any copies, compilations, extracts, excerpts, summaries or other notes of any such manuals, files, documents, records, software, customer data base or other data. 

		
	10.
	Notwithstanding anything in this General Release to the contrary, this General Release shall not relinquish, diminish, or in any way affect any rights or claims arising out of any breach by the Company or by any Released Party of the Agreement after the date hereof.

		
	11.
	Whenever possible, each provision of this General Release shall be interpreted in, such manner as to be effective and valid under applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.

		
	12.
	This General Release shall be binding upon and inure to the benefit of each of the parties hereto and the heirs, executors, successors and assigns of each of the parties.

		
	13.
	This General Release shall be governed by and construed in accordance with the laws of the State of New York, but without giving effect to applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required hereby.

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	14.
	This General Release constitutes the entire agreement among the parties with respect to the subject matter of this General Release and supersedes any prior agreements and understandings with respect to such subject matter.  This General Release may be changed, waived, modified or terminated only by a written instrument signed by both parties to this agreement.

BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT:
(i)    I HAVE READ IT CAREFULLY;
(ii)    I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED;
(iii)    I VOLUNTARILY CONSENT TO EVERYTHING IN IT;
(iv)    I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT, I HAVE HAD THE OPPORTUNITY TO SO CONSULT, AND HAVE AVAILED MYSELF OF SUCH ADVICE TO THE EXTENT I HAVE DEEMED NECESSARY TO MAKE A VOLUNTARY AND INFORMED CHOICE TO EXECUTE THIS AGREEMENT;
(v)    I HAVE HAD AT LEAST TWENTY‐ONE (21) DAYS FROM THE DATE OF MY RECEIPT OF THIS RELEASE TO CONSIDER IT;
(vi)    I UNDERSTAND THAT I HAVE SEVEN (7) DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT, SUCH REVOCATION TO BE RECEIVED IN WRITING BY THE COMPANY BY THE END OF THE SEVENTH DAY AFTER THE DATE HEREOF, AND THAT THIS RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED;
(vii)    I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND
(viii)    AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME.

	
			
	 
	DATED AS OF March 16, 2016

	 
	 
	 

	 
	 
	 

	 
	 

	 
	Mark Bonney

	 
	 
	 

 

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