Document:

EX-10.9

 Exhibit 10.9 

Execution Version 
  

 
  

J.P. Morgan 
 CREDIT AGREEMENT

 dated as of 

December 2, 2020 
 between

 FIGS, INC. 
 and 

JPMORGAN CHASE BANK, N.A. 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I Definitions
	  	 	1	 
			
	 Section 1.01
	 	Defined Terms	  	 	1	 
	 Section 1.02
	 	Classification of Loans and Borrowings	  	 	25	 
	 Section 1.03
	 	Terms Generally	  	 	26	 
	 Section 1.04
	 	Accounting Terms; GAAP	  	 	26	 
	 Section 1.05
	 	Interest Rates; LIBOR Notification	  	 	27	 
	 Section 1.06
	 	Pro Forma Adjustments for Acquisitions and Dispositions	  	 	27	 
	 Section 1.07
	 	Status of Obligations	  	 	27	 
		
	 ARTICLE II The Credits
	  	 	28	 
			
	 Section 2.01
	 	Revolving Commitments	  	 	28	 
	 Section 2.02
	 	Loans and Borrowings	  	 	28	 
	 Section 2.03
	 	Borrowing Procedures; Requests for Revolving Borrowings	  	 	28	 
	 Section 2.04
	 	Letters of Credit	  	 	29	 
	 Section 2.05
	 	Funding of Borrowings	  	 	32	 
	 Section 2.06
	 	Interest Elections	  	 	33	 
	 Section 2.07
	 	Termination and Reduction of Commitment	  	 	34	 
	 Section 2.08
	 	Repayment and Amortization of Loans; Evidence of Debt	  	 	35	 
	 Section 2.09
	 	Prepayment of Loans	  	 	35	 
	 Section 2.10
	 	Fees	  	 	36	 
	 Section 2.11
	 	Interest	  	 	37	 
	 Section 2.12
	 	Alternate Rate of Interest; Illegality	  	 	38	 
	 Section 2.13
	 	Increased Costs	  	 	39	 
	 Section 2.14
	 	Break Funding Payments	  	 	40	 
	 Section 2.15
	 	Withholding of Taxes; Gross-Up	  	 	40	 
	 Section 2.16
	 	Payments Generally; Allocation of Proceeds	  	 	42	 
	 Section 2.17
	 	Returned Payments	  	 	43	 
		
	 ARTICLE III Representations and Warranties
	  	 	43	 
			
	 Section 3.01
	 	Organization; Powers	  	 	43	 
	 Section 3.02
	 	Authorization; Enforceability	  	 	44	 
	 Section 3.03
	 	Governmental Approvals; No Conflicts	  	 	44	 
	 Section 3.04
	 	Financial Condition; No Material Adverse Change	  	 	44	 
	 Section 3.05
	 	Properties	  	 	44	 
	 Section 3.06
	 	Litigation and Environmental Matters	  	 	45	 
	 Section 3.07
	 	Compliance with Laws and Agreements; No Default	  	 	45	 
	 Section 3.08
	 	Investment Company Status	  	 	45	 
	 Section 3.09
	 	Taxes	  	 	45	 
	 Section 3.10
	 	ERISA	  	 	45	 
	 Section 3.11
	 	Disclosure	  	 	46	 

  
 i 

							
	 Section 3.12
	 	Material Agreements	  	 	46	 
	 Section 3.13
	 	Solvency	  	 	46	 
	 Section 3.14
	 	Insurance	  	 	47	 
	 Section 3.15
	 	Capitalization and Subsidiaries	  	 	47	 
	 Section 3.16
	 	Security Interest in Collateral	  	 	47	 
	 Section 3.17
	 	Employment Matters	  	 	47	 
	 Section 3.18
	 	Margin Regulations	  	 	47	 
	 Section 3.19
	 	Use of Proceeds	  	 	48	 
	 Section 3.20
	 	No Burdensome Restrictions	  	 	48	 
	 Section 3.21
	 	Anti-Corruption Laws and Sanctions	  	 	48	 
	 Section 3.22
	 	Plan Assets; Prohibited Transactions	  	 	48	 
	 Section 3.23
	 	Affiliate Transactions	  	 	48	 
		
	 ARTICLE IV Conditions
	  	 	49	 
			
	 Section 4.01
	 	Effective Date	  	 	49	 
	 Section 4.02
	 	Each Credit Event	  	 	51	 
		
	 ARTICLE V Affirmative Covenants
	  	 	52	 
			
	 Section 5.01
	 	Financial Statements and Other Information	  	 	52	 
	 Section 5.02
	 	Notices of Material Events	  	 	54	 
	 Section 5.03
	 	Existence; Conduct of Business	  	 	55	 
	 Section 5.04
	 	Payment of Obligations	  	 	55	 
	 Section 5.05
	 	Maintenance of Properties	  	 	55	 
	 Section 5.06
	 	Books and Records; Inspection Rights	  	 	55	 
	 Section 5.07
	 	Compliance with Laws and Material Contractual Obligations	  	 	56	 
	 Section 5.08
	 	Use of Proceeds	  	 	56	 
	 Section 5.09
	 	Accuracy of Information	  	 	56	 
	 Section 5.10
	 	Insurance	  	 	57	 
	 Section 5.11
	 	Appraisals	  	 	57	 
	 Section 5.12
	 	Casualty and Condemntation	  	 	57	 
	 Section 5.13
	 	Depository Banks	  	 	57	 
	 Section 5.14
	 	Additional Collateral; Further Assurances	  	 	57	 
		
	 ARTICLE VI Negative Covenants
	  	 	59	 
			
	 Section 6.01
	 	Indebtedness	  	 	59	 
	 Section 6.02
	 	Liens	  	 	61	 
	 Section 6.03
	 	Fundamental Changes	  	 	62	 
	 Section 6.04
	 	Investments, Loans, Advances, Guarantees and Acquisitions	  	 	63	 
	 Section 6.05
	 	Asset Sales	  	 	64	 
	 Section 6.06
	 	Sale and Leaseback Transactions	  	 	65	 
	 Section 6.07
	 	Swap Agreements	  	 	66	 
	 Section 6.08
	 	Restricted Payments; Certain Payments of Indebtedness	  	 	66	 
	 Section 6.09
	 	Transactions with Affiliates	  	 	67	 
	 Section 6.10
	 	Restrictive Agreements	  	 	67	 

  
 ii 

							
	 Section 6.11
	 	Amendment of Material Documents	  	 	67	 
	 Section 6.12
	 	Financial Covenant	  	 	67	 
		
	 ARTICLE VII Events of Default
	  	 	68	 
		
	 ARTICLE VIII Miscellaneous
	  	 	71	 
			
	 Section 8.01
	 	Notices	  	 	71	 
	 Section 8.02
	 	Waivers; Amendments	  	 	72	 
	 Section 8.03
	 	Expenses; Indemnity; Damage Waiver	  	 	72	 
	 Section 8.04
	 	Successors and Assigns	  	 	74	 
	 Section 8.05
	 	Survival	  	 	75	 
	 Section 8.06
	 	Counterparts; Integration; Effectiveness; Electronic Execution	  	 	76	 
	 Section 8.07
	 	Severability	  	 	76	 
	 Section 8.08
	 	Right of Setoff	  	 	76	 
	 Section 8.09
	 	Governing Law; Jurisdiction; Consent to Service of Process	  	 	77	 
	 Section 8.10
	 	WAIVER OF JURY TRIAL	  	 	77	 
	 Section 8.11
	 	Headings	  	 	78	 
	 Section 8.12
	 	Confidentiality	  	 	78	 
	 Section 8.13
	 	Nonreliance; Violation of Law	  	 	79	 
	 Section 8.14
	 	USA PATRIOT Act	  	 	79	 
	 Section 8.15
	 	Disclosure	  	 	79	 
	 Section 8.16
	 	Interest Rate Limitation	  	 	79	 
	 Section 8.17
	 	No Fiduciary Duty, etc	  	 	79	 
	 Section 8.18
	 	Marketing Consent	  	 	80	 
		
	 ARTICLE IX Loan Guaranty
	  	 	81	 
			
	 Section 9.01
	 	Guaranty	  	 	81	 
	 Section 9.02
	 	Guaranty of Payment	  	 	81	 
	 Section 9.03
	 	No Discharge or Diminishment of Loan Guaranty	  	 	81	 
	 Section 9.04
	 	Defenses Waived	  	 	82	 
	 Section 9.05
	 	Rights of Subrogation	  	 	83	 
	 Section 9.06
	 	Reinstatement; Stay of Acceleration	  	 	83	 
	 Section 9.07
	 	Information	  	 	83	 
	 Section 9.08
	 	Termination	  	 	83	 
	 Section 9.09
	 	Taxes	  	 	83	 
	 Section 9.10
	 	Maximum Liability	  	 	83	 
	 Section 9.11
	 	Contribution	  	 	84	 
	 Section 9.12
	 	Liability Cumulative	  	 	84	 
	 Section 9.13
	 	Keepwell	  	 	85	 

 EXHIBITS: 

Exhibit A—Borrowing Request 
 Exhibit B —
Interest Election Request 
 Exhibit C—Compliance Certificate 

Exhibit D—Joinder Agreement 

  
 iii 

 CREDIT AGREEMENT dated as of December 2, 2020 (as it may be amended or modified from
time to time, this “Agreement”), between FIGS, INC., a Delaware corporation, as Borrower, the other Loan Parties party hereto, and JPMORGAN CHASE BANK, N.A., as Lender. 

The parties hereto agree as follows: 

ARTICLE I 
 Definitions

 SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“Account” has the meaning assigned to such term in the Security Agreement. 

“Account Debtor” means any Person obligated on an Account. 

“Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period or for any CBFR Borrowing, an
interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

“Adjusted One Month LIBOR Rate” means, for any day, an interest rate per annum equal to the sum of (i) 2.50% per annum plus
(ii) the Adjusted LIBO Rate for a one-month interest period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the
Adjusted LIBO Rate for any day shall be based on the LIBO Screen Rate at approximately 11:00 a.m. London time on such day; provided further, that, if the LIBO Screen Rate at such time shall be less than 0.50%, such rate shall be deemed to be 0.50%
for purposes of this Agreement. 
 “Affiliate” means, with respect to a specified Person, another Person that directly, or
indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the specified Person. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrower or any of its
Subsidiaries from time to time concerning or relating to bribery or corruption. 
 “Applicable Rate” means, for any day,
(a) with respect to any Eurodollar Loan, one and three quarters percent (1.75%) per annum and (b) with respect to any CBFR Loan, three quarters of a percent (0.75%) per annum. 

“Availability” means, at any time, an amount equal to (a) the Revolving Commitment minus (b) the
Revolving Exposure. 
 “Availability Period” means the period from and including the Effective Date to but excluding the
earlier of the Revolving Credit Maturity Date and the date of termination of the Revolving Commitment. 

  
 1 

 “Banking Services” means each and any of the following bank services
provided to any Loan Party or any Subsidiary by the Lender or any of its Affiliates: (a) credit cards for commercial customers (including, without limitation, “commercial credit cards” and purchasing cards), (b) stored value cards,
(c) merchant processing services, and (d) treasury management services (including, without limitation, controlled disbursement, automated clearinghouse transactions, return items, any direct debit scheme or arrangement, overdrafts and
interstate depository network services). 
 “Banking Services Obligations” means any and all obligations of the Loan
Parties or their Subsidiaries, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor) in connection with Banking
Services. 
 “Bankruptcy Event” means, with respect to any Person, when such Person becomes the subject of a voluntary or
involuntary bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed
for it, or, in the good faith determination of the Lender, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment or has had any order for relief in such proceeding
entered in respect thereof, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, unless
such ownership interest results in or provides such Person with immunity from the jurisdiction of courts within the U.S. or from the enforcement of judgments or writs of attachment on its assets or permits such Person (or such Governmental Authority
or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person. 
 “Benchmark
Transition Event” means the occurrence of one or more of the following events with respect to the LIBO Rate: 
 (1) a public
statement or publication of information by or on behalf of the administrator of the LIBO Screen Rate announcing that such administrator has ceased or will cease to provide the LIBO Screen Rate, permanently or indefinitely, provided that, at the time
of such statement or publication, there is no successor administrator that will continue to provide the LIBO Screen Rate; 
 (2) a public
statement or publication of information by the regulatory supervisor for the administrator of the LIBO Screen Rate, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for the LIBO Screen Rate, a
resolution authority with jurisdiction over the administrator for the LIBO Screen Rate or a court or an entity with similar insolvency or resolution authority over the administrator for the LIBO Screen Rate, which states that the administrator of
the LIBO Screen Rate has ceased or will cease to provide the LIBO Screen Rate permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the LIBO Screen
Rate; or 
 (3) a public statement or publication of information by the regulatory supervisor for the administrator of the LIBO Screen Rate
announcing that the LIBO Screen Rate is no longer representative. 

  
 2 

 “Beneficial Ownership Certification” means a certification regarding
beneficial ownership as required by the Beneficial Ownership Regulation. 
 “Beneficial Ownership Regulation” means 31
C.F.R. § 1010.230. 
 “BHC Act Affiliate” of a party means an “affiliate” (as such term is defined
under, and interpreted in accordance with, 12 U.S.C. 1841(k) of such party. 
 “Borrower” means FIGS, INC., a Delaware
corporation. 
 “Borrowing” means Revolving Loans of the same Type, made, converted or continued on the same date and, in
the case of Eurodollar Loans, as to which a single Interest Period is in effect. 
 “Borrowing Request” means a request by
the Borrower for a Borrowing in accordance with Section 2.03, which shall be in the form of Exhibit A hereto or any other form satisfactory to, or provided by, the Lender. 

“Burdensome Restrictions” means any consensual encumbrance or restriction of the type described in clause (a) or (b) of
Section 6.10. 
 “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in
San Francisco are authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks are not open for general
business in London. 
 “Capital Expenditures” means, without duplication, any expenditure or commitment to expend money for
any purchase or other acquisition of any asset which would be classified as a fixed or capital asset on a consolidated balance sheet of the Borrower and its Subsidiaries prepared in accordance with GAAP. 

“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease
of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases or financing leases on a balance sheet of such Person under
GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP; provided, however, that, for the avoidance of doubt, any obligations relating to a lease that was accounted for by
such Person as an operating lease as of the Effective Date and any similar lease entered into after the Effective Date by such Person shall be accounted for as obligations relating to an operating lease and not as Capital Lease Obligations 

“CB Floating Rate” means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month
LIBOR Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including
the effective date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively. 

  
 3 

 “CBFR”, when used in reference to any Loan or Borrowing, refers to whether
such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to the CB Floating Rate. 

“CFC” means a “controlled foreign corporation” within the meaning of Section 957(a) of the Code. 

“Change in Control” means (a) any “person” or “group” (as such terms are used in Sections 13(d)
and 14(d) of the Exchange Act), other than the Permitted Holder, becomes, or obtains rights (whether by means of warrants, options, or otherwise) to become, the “beneficial owner” (as defined in Rules
13(d)-3 and 13(d)-5 under the Exchange Act), directly or indirectly, of at least 50.1% of the outstanding voting Equity Interests of the Borrower on a fully diluted
basis; or (b) occupation at any time of a majority of the seats (other than vacant seats) on the board of directors of the Borrower by Persons who were not (i) directors of the Borrower on the date of this Agreement or nominated, or
appointed or approved for consideration by shareholders for election by the board of directors of the Company, (ii) approved by the board of directors of the Borrower as director candidates prior to their election, nor (iii) appointed by
directors so nominated, or appointed. 
 “Change in Law” means the occurrence after the date of this Agreement of any of
the following: (a) the adoption of or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any
Governmental Authority or (c) compliance by the Lender (or, for purposes of Section 2.13(b), by any lending office of the Lender or by the Lender’s holding company, if any) with any request, guideline, requirement or directive
(whether or not having the force of law) of any Governmental Authority made or issued after the date of this Agreement; provided that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer
Protection Act and all requests, rules, guidelines, requirements or directives thereunder or issued in connection therewith or in the implementation thereof, and (y) all requests, rules, guidelines, requirements or directives promulgated by the
Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the U.S. or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a
“Change in Law”, regardless of the date enacted, adopted, issued or implemented. 
 “Charges” has the
meaning assigned to such term in Section 8.16. 
 “Class”, when used in reference to (a) any Loan or Borrowing,
refers to such Loan, or the Loans comprising such Borrowing, as Revolving Loans, and (b) any Commitment, refers to such Commitment as a Revolving Commitment. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

“Collateral” means any and all property owned, leased or operated by a Person covered by the Collateral Documents and any and
all other property of any Loan Party, now existing or hereafter acquired, that may at any time be, become or be intended to be, subject to a security interest or Lien in favor of the Lender, on behalf of the Secured Parties, to secure the Secured
Obligations, provided that the Collateral shall not include any Excluded Assets. 

  
 4 

 “Collateral Access Agreement” has the meaning assigned to such term in the
Security Agreement. 
 “Collateral Documents” means, collectively, the Security Agreement, the IP Security Agreement and
any other agreements, instruments and documents executed in connection with this Agreement that are intended to create, perfect or evidence Liens to secure the Secured Obligations, including, without limitation, all other security agreements, pledge
agreements, mortgages, deeds of trust, loan agreements, notes, guarantees, subordination agreements, pledges, powers of attorney, consents, assignments, contracts, fee letters, notices, leases, financing statements and all other written matter
whether theretofore, now or hereafter executed by any Loan Party and delivered to the Lender. 
 “Commercial LC Exposure”
means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding commercial Letters of Credit plus (b) the aggregate amount of all LC Disbursements relating to commercial Letters of Credit that have not yet
been reimbursed by or on behalf of the Borrower. 
 “Commitment” means the Revolving Commitments. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and
any successor statute. 
 “Compliance Certificate” means a certificate of a Financial Officer in substantially the form of
Exhibit C. 
 “Connection Income Taxes” means Other Connection Taxes that are imposed on or
measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Control” means the
possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and
“Controlled” have meanings correlative thereto. 
 “Covered Entity” means any of the following: 

(a) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); 

(b) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R.§ 47.3(b); or 

(c) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R.§ 382.2(b). 

  
 5 

 “Covered Party” has the meaning assigned to it in
Section 8.19. 
 “Default” means any event or condition which constitutes an Event of Default or
which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default. 
 “Default Right” has
the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. 

“Disclosure Letter” means that certain Disclosure Letter of even date herewith, that was delivered to and accepted by Lender
as of the Effective Date, to which each of the Schedules to such Disclosure Letter referenced herein is attached. Each reference to a Schedule of the Disclosure Letter shall refer to the applicable Schedule attached to the Disclosure
Letter. 
 “Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (in
one transaction or in a series of transactions and whether effected pursuant to a Division or otherwise) of any property by any Person (including any sale and leaseback transaction and any issuance of Equity Interests by a Subsidiary of such
Person), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. 

“Dividing Person” has the meaning assigned to it in the definition of “Division.” 

“Division” means the division of the assets, liabilities and/or obligations of a Person (the “Dividing
Person”) among two or more Persons (whether pursuant to a “plan of division” or similar arrangement), which may or may not include the Dividing Person and pursuant to which the Dividing Person may or may not survive. 

“Division Successor” means any Person that, upon the consummation of a Division of a Dividing Person, holds all or any
portion of the assets, liabilities and/or obligations previously held by such Dividing Person immediately prior to the consummation of such Division. A Dividing Person which retains any of its assets, liabilities and/or obligations after a Division
shall be deemed a Division Successor upon the occurrence of such Division. 
 “Disclosed Matters” means the actions, suits,
proceedings and environmental matters disclosed in Schedule 3.06 of the Disclosure Letter. 

“Document” has the meaning assigned to such term in the Security Agreement. 

“Dollars”, “dollars” or “$” refers to lawful money of the U.S. 

“Domestic Foreign Holding Company” means any Domestic Subsidiary that owns no material assets (directly or through one or
more disregarded entities) other than capital stock (including any debt instrument treated as equity for U.S. federal income tax purposes) of one or more foreign subsidiaries that are CFCs. 

“Domestic Subsidiary” shall mean each Subsidiary of the Borrower that is organized under the laws of a jurisdiction located
in the United States, but excluding any Domestic Foreign Holding Company. 

  
 6 

 “EBITDA” means, for any period, Net Income for such period
plus (a) without duplication and to the extent deducted in determining Net Income for such period, the sum of (i) Interest Expense for such period, (ii) income tax expense for such period, (iii) all amounts
attributable to depreciation and amortization expense for such period, (iv) unrealized losses in respect of Swap Agreements, (v) any extraordinary non-cash charges for such period, (vi) any
other non-cash charges for such period, including realized non-cash foreign exchange losses, non-cash stock based compensation
charges, and noncash losses due to transitioning to GAAP accounting policies (but excluding any non-cash charge in respect of an item that was included in Net Income in a prior period), (vii) fees and expenses
directly incurred or paid in connection with (1) the Loan Documents, (2) any transaction not prohibited by this Agreement, and (3) to the extent permitted under the Loan Documents, issuances or incurrence of Indebtedness, issuances of
Equity Interests (including any initial public offering) or refinancing transactions and modifications of instruments (including any amortization or write-off of debt issuance or deferred financing costs,
premiums, prepayment penalties, commissions, discounts, yield and other fees and charges), (viii) any non-recurring charges, costs, losses, fees and expenses directly incurred or paid directly as a result of
discontinued operations or any sale or disposition of any asset of the Borrower or any of its Subsidiaries, (ix) (1) any costs (including expenses and fees) incurred to the extent covered by indemnification provisions in any agreement or
otherwise reimbursable by a third party, and (2) any costs incurred with respect to liability, casualty events or business interruption, to the extent covered by insurance and received during such period, (x) expected cost savings,
operating expense reductions, restructuring charges and expenses and synergies related to Dispositions, restructurings, cost savings initiatives, operating improvements and other similar initiatives projected by the Borrower in good faith to be
realized as a result of any disposition, restructuring activity, consolidation, integration, operational change, or any investment, in each case within the four consecutive fiscal quarters following the consummation thereof, calculated as though
such cost savings and other reductions had been realized on the first day of such period and net of the amount of actual benefits received during such period from such, in each case, in an aggregate amount not to exceed 15% of EBITDA for such period
(calculated after giving effect to all adjustments and addbacks); (xi) any costs, charges, accruals, reserves or expenses attributable to the undertaking and/or implementation of cost savings initiatives, operating expense reductions, integration,
transition, facilities opening and pre-opening, business optimization and other restructuring and integration costs, charges accruals, reserves and expenses (including, without limitation, inventory
optimization programs, software development costs, costs related to the closure or consolidation of facilities, stores and distribution centers, curtailments, costs related to entry into new markets, costs related to preopening and opening of
stores, distribution centers or other facilities, consulting fees, signing costs, retention or completion bonuses, relocation expenses, severance payments, modifications to pension and post-retirement employee benefit plans and new systems design
and implementation costs and project startup costs), in each case, in an aggregate amount not to exceed 15% of EBITDA for such period (calculated after giving effect to all adjustments and addbacks); (xii) any costs, fees, or expenses related to or
in connection with any litigation; (xiii) any extraordinary freight charges, costs, or expenses up to $5,000,000 per fiscal year (or such greater amount as may be agreed by the Lender) incurred as a result of economic conditions outside of the
control of the Borrower and its Subsidiaries; (xiv) net losses (including all fees, expenses and charges related thereto) on the retirement or extinguishment of Indebtedness; and (xv) nonrecurring cash charges up to $5,000,000 per fiscal
year (or such greater amount as may be agreed by the Lender) minus (b) without duplication and to the extent included in Net Income, (i) any cash payments made during such period in respect of
non-cash charges described in clause (a)(vi) taken in a prior period and (ii) any extraordinary gains and any non-cash items of income for such period, all
calculated for the Borrower and its Subsidiaries on a consolidated basis in accordance with GAAP. 

  
 7 

 “ECP” means an “eligible contract participant” as defined in
Section 1(a)(18) of the Commodity Exchange Act or any regulations promulgated thereunder and the applicable rules issued by the Commodity Futures Trading Commission and/or the SEC. 

“Effective Date” means the date on which the conditions specified in Section 4.01 are satisfied (or waived in accordance
with Section 8.02). 
 “Electronic Signature” means an electronic sound, symbol, or process attached to, or associated
with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record. 

“Electronic System” means any electronic system, including e-mail, e-fax, web portal access for the Borrower, and any other Internet or extranet-based site, whether such electronic system is owned, operated or hosted by the Lender and any of its respective Related Parties or any
other Person, providing for access to data protected by passcodes or other security system. 
 “Environmental Laws” means
all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the (i) environment, (ii)
preservation or reclamation of natural resources, (iii) the management, Release or threatened Release of any Hazardous Material or (iv) health and safety matters. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of the Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) any violation of any Environmental Law, (b) the generation, use, handling,
transportation, storage, treatment or disposal of any Hazardous Materials, (c) any exposure to any Hazardous Materials, (d) the Release or threatened Release of any Hazardous Materials into the environment or (e) any contract,
agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Equipment” has the meaning assigned to such term in the Security Agreement. 

“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company,
beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any of the foregoing, but excluding any debt securities convertible into
any of the foregoing. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time,
and the rules and regulations promulgated thereunder. 

  
 8 

 “ERISA Affiliate” means any trade or business (whether or not incorporated)
that, together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code or Section 4001(14) of ERISA or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated
as a single employer under Section 414 of the Code. 
 “ERISA Event” means (a) any “reportable event”,
as defined in Section 4043 of ERISA or the regulations issued thereunder, with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) the failure to satisfy the
“minimum funding standard” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Borrower or any ERISA Affiliate of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by the
Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (f) the incurrence by the Borrower or any ERISA
Affiliate of any liability with respect to the withdrawal or partial withdrawal of the Borrower or any ERISA Affiliate from any Plan or Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any notice, or the receipt
by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice, concerning the imposition upon the Borrower or any ERISA Affiliate of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be,
insolvent, in critical status or in reorganization, within the meaning of Title IV of ERISA. 
 “Eurodollar”, when used in
reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to the Adjusted LIBO Rate. 

“Event of Default” has the meaning assigned to such term in Article VII. 

“Excluded Accounts” means (a) escrow accounts and trust accounts, (b) payroll accounts, (c) accounts used for
payroll taxes and/or withheld income taxes, (d) accounts used for employee wage and benefit payments, (e) accounts pledged to secure performance (including to secure letters of credit and bank guarantees) to the extent constituting Liens
permitted by Section 6.02, (f) custodial accounts, (g) accounts that are swept to a zero balance on a daily basis to a deposit account that is subject to a control agreement and (h) other similar deposit or securities accounts. 

“Excluded Assets” means: 

(a) any fee-owned real property other than Material Real Property (including any leasehold interests
therein); 
 (b) assets in respect of which pledges and security interests are prohibited by applicable law, rule or regulation or agreements
with any Governmental Authority (other than to the extent that such prohibition would be rendered ineffective pursuant to Section 9-406, 9-407, 9-408, 9-409 or other applicable provisions of the UCC of any relevant jurisdiction or any other applicable law); provided that, immediately upon the ineffectiveness, lapse or
termination of any such prohibitions, such assets shall automatically cease to constitute “Excluded Assets”; 

  
 9 

 (c) Equity Interests in any Person other than wholly-owned Subsidiaries to the extent not
permitted by customary terms in such Person’s organizational or joint venture documents (unless any such restriction would be rendered ineffective pursuant to Section 9-406, 9-407, 9-408, 9-409 or other applicable provisions of the UCC of any relevant jurisdiction or any other applicable law); 

(d) any lease, license or other agreement or any property subject to a purchase money security interest, similar arrangement or other
contractual restriction, to the extent that a grant of a security interest therein would violate or invalidate such lease, license or agreement, purchase money or other arrangement or contractual restriction or creates a right of termination in
favor of any other party thereto (other than the Lender) (other than (i) proceeds and receivables thereof, the assignment of which is expressly deemed effective under the UCC notwithstanding such prohibition, (ii) to the extent that any
such term has been waived or (iii) to the extent any such term would be rendered ineffective pursuant to Section 9-406, 9-407,
9-408, 9-409 or other applicable provisions of the UCC of any relevant jurisdiction or any other applicable law); provided that, immediately upon the ineffectiveness,
lapse or termination of any such express term, such assets shall automatically cease to constitute “Excluded Assets”; 
 (e) any “intent-to-use” application for registration of a trademark filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, prior to the filing of
a “Statement of Use” pursuant to Section 1(d) of the Lanham Act of an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, solely to the extent, if any, that and solely during the
period, if any, in which, the grant of a security interest therein would impair the validity or enforceability of any registration that issues from such intent-to-use
application under applicable federal law; 
 (f) Margin Stock; 

(g) all commercial tort claims (as defined in the UCC) below $500,000; 

(h) voting Equity Interests in a Foreign Subsidiary that is a CFC and voting Equity Interests in a Domestic Foreign Holding Company, in each
case, in excess of 65% of the total voting Equity Interests in such Subsidiary; and 
 (i) any other assets where the cost of obtaining or
perfecting a security interest in such assets exceeds the practical benefit to the Lender afforded thereby as reasonably determined by the Lender in writing (in consultation with the Borrower); 

provided that, “Excluded Assets” shall not include any proceeds, products, substitutions or replacements of Excluded Assets
(unless such proceeds, products, substitutions or replacements would otherwise constitute Excluded Assets). 
 “Excluded Swap
Obligation” means, with respect to any Loan Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the Guarantee of such Loan Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap
Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of
such Loan Guarantor’s failure for any reason to constitute 

  
 10 

 
an ECP at the time the Guarantee of such Loan Guarantor or the grant of such security interest becomes or would become effective with respect to such Swap Obligation. If a Swap Obligation arises
under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guarantee or security interest is or becomes illegal. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to the Lender or required to be withheld or
deducted from a payment to the Lender: (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of the Lender being organized under the laws of,
or having its principal office or its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) U.S. federal withholding Taxes imposed on
amounts payable to or for the account of the Lender with respect to an applicable interest in a Loan, Letter of Credit or Commitment pursuant to a law in effect on the date on which (i) the Lender acquires such interest in the Loan, Letter of
Credit or Commitment or (ii) the Lender changes its lending office, except in each case to the extent that, pursuant to Section 2.15, amounts with respect to such Taxes were payable either to the Lender’s assignor immediately before
the Lender acquired the applicable interest in such Loan, Letter of Credit or Commitment or to the Lender immediately before it changed its lending office and (c) any withholding Taxes imposed under FATCA. 

“FATCA” means Sections 1471 through 1474 of the Code as of the date of this Agreement (or any amended or successor
version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreement entered into pursuant to Section 1471(b)(1) of the Code and any
fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code. 

“Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal funds
transactions by depositary institutions, as determined in such manner as the NYFRB shall set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the effective federal funds rate, provided
that, if the Federal Funds Effective Rate as so determined would be less than zero, such rate shall be deemed to zero for the purposes of this Agreement. 

“Federal Reserve Board” means the Board of Governors of the Federal Reserve System of the United States of America. 

“Financial Officer” means the chief financial officer, principal accounting officer, treasurer or controller of the Borrower.

 “Flood Hazard Property”: any real property that is in an area designated by the Federal Emergency Management Agency as
having special flood or mud slide hazards. 
 “Foreign Subsidiary” means each Subsidiary of the Borrower that is not a
Domestic Subsidiary. 
 “Funding Account” has the meaning assigned to such term in Section 4.01(h). 

  
 11 

 “GAAP” means generally accepted accounting principles in the U.S. 

“Governmental Authority” means the government of the U.S., any other nation or any political subdivision thereof, whether
state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.

 “Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise,
of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any
obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any
security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to maintain working capital, equity
capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit or letter of
guaranty issued to support such Indebtedness or obligation; provided that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business or customary and reasonable indemnity obligations in
effect on the Effective Date or entered into in connection with any acquisition or disposition of assets permitted under this Agreement (other than such obligations with respect to Indebtedness). The amount of any Guarantee shall be deemed to be an
amount equal to the lesser of (a) the stated or determinable amount of the primary payment obligation in respect of which such Guarantee is made and (b) the maximum amount for which the guaranteeing Person may be liable pursuant to the
terms of the instrument embodying such Guarantee, unless such primary payment obligation and the maximum amount for which such guaranteeing Person may be liable are not stated or determinable, in which case the amount of the Guarantee shall be such
guaranteeing Person’s maximum reasonably possible liability in respect thereof as reasonably determined by the Borrower in good faith. 

“Guaranteed Obligations” has the meaning assigned to such term in Section 9.01. 

“Guarantors” means all Loan Guarantors, and the term “Guarantor” means each or any one of them individually.

 “Hazardous Materials” means: (a) any substance, material, or waste that is included within the definitions of
“hazardous substances,” “hazardous materials,” “hazardous waste,” “toxic substances,” “toxic materials,” “toxic waste,” or words of similar import in any Environmental Law; (b) those
substances listed as hazardous substances by the United States Department of Transportation (or any successor agency) (49 C.F.R. 172.101 and amendments thereto) or by the Environmental Protection Agency (or any successor agency) (40 C.F.R. Part 302
and amendments thereto); and (c) any substance, material, or waste that is petroleum, petroleum-related, or a petroleum by-product, asbestos or asbestos-containing material, polychlorinated biphenyls,
flammable, explosive, radioactive, freon gas, radon, or a pesticide, herbicide, or any other agricultural chemical. 

  
 12 

 “Impacted Interest Period” has the meaning assigned to such term in the
definition of “LIBO Rate”. 
 “Indebtedness” of any Person means, without duplication, (a) all
obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or other title retention agreements
relating to property acquired by such Person, (d) all obligations of such Person in respect of the deferred purchase price of property or services if and to the extent such obligation would appear as a liability upon the balance sheet of the
specified Person in accordance with GAAP (excluding (i) accounts payable or other liability to trade creditors incurred in the ordinary course of business and not overdue for more than ninety (90) days and (ii) deferred compensation
and severance, pension, health and welfare retirement and equivalent benefits to current or former employees, directors or managers of such Person and its Subsidiaries), (e) all Indebtedness of others secured by (or for which the holder of such
Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, provided that, if such Person has
not assumed or otherwise become liable in respect of such Indebtedness, such obligations shall be deemed to be in an amount equal to the lesser of (i) the unpaid amount of such Indebtedness and (ii) fair market value of such property at
the time of determination (in the Borrower’s good faith estimate), (f) all Guarantees by such Person of Indebtedness of others, (g) all Capital Lease Obligations of such Person, (h) all direct obligations of such Person as an account
party in respect (i) of letters of credit and (ii) letters of guaranty, (i) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances, (j) obligations under any earn-out (which for all purposes of this Agreement shall be valued at the maximum potential amount payable with respect to each such earn-out), (k) any other Off-Balance Sheet Liability, and (l) net obligations, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications
thereof and substitutions therefor), under (i) any and all Swap Agreements, and (ii) any and all cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction. The Indebtedness of any Person shall
include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such
entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. Indebtedness shall not include operating leases. 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on
account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in the foregoing clause (a), Other Taxes. 

“Indemnitee” has the meaning assigned to such term in Section 8.03(b). 

“Information” has the meaning assigned to such term in Section 8.12. 

“Interest Election Request” means a request by the Borrower to convert or continue a Borrowing in accordance with
Section 2.06, which shall be in the form of Exhibit B hereto or any other form satisfactory to, or provided by, the Lender. 

  
 13 

 “Interest Expense” means, with reference to any period, total interest
expense (including that attributable to Capital Lease Obligations) of the Borrower and its Subsidiaries for such period with respect to all outstanding Indebtedness of the Borrower and its Subsidiaries (including all commissions, discounts and other
fees and charges owed with respect to letters of credit and bankers’ acceptances and net costs under Swap Agreements in respect of interest rates, to the extent such net costs are allocable to such period in accordance with GAAP), calculated
for the Borrower and its Subsidiaries on a consolidated basis for such period in accordance with GAAP. 
 “Interest Payment
Date” means (a) with respect to any CBFR Loan, the first day of each calendar month and the Revolving Credit Maturity Date, as applicable, and (b) with respect to any Eurodollar Loan, the last day of each Interest Period
applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more than three (3) months’ duration, each day prior to the last day of such Interest Period that occurs at
intervals of three months’ duration after the first day of such Interest Period and the Revolving Credit Maturity Date, as applicable. 

“Interest Period” means, with respect to any Eurodollar Borrowing, the period commencing on the date of such Eurodollar
Borrowing and ending on the numerically corresponding day in the calendar month that is one, three or six months (or, with the consent of the Lender, twelve months) thereafter, as the Borrower may elect; provided that (i) if any Interest
Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall
end on the next preceding Business Day and (ii) any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period)
shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter, in the case of a Borrowing, shall be the
effective date of the most recent conversion or continuation of such Borrowing. 
 “Interpolated Rate” means, at any time,
for any Interest Period, the rate per annum (rounded to the same number of decimal places as the LIBO Screen Rate) determined by the Lender (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that
results from interpolating on a linear basis between: (a) the LIBO Screen Rate for the longest period (for which the LIBO Screen Rate is available) that is shorter than the Impacted Interest Period and (b) the LIBO Screen Rate for the
shortest period (for which the LIBO Screen Rate is available) that exceeds the Impacted Interest Period, in each case, at such time; provided, that, if any Interpolated Rate shall be less than 0.50%, such rate shall be deemed to be 0.50% for
purposes of this Agreement. 
 “Inventory” has the meaning assigned to such term in the Security Agreement. 

“IP Security Agreement” means that certain Intellectual Property Security Agreement (including any and all supplements
thereto), dated as of the date hereof among the Loan Parties party thereto and the Lender, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

  
 14 

 “IRS” means the United States Internal Revenue Service. 

“Joinder Agreement” means a Joinder Agreement in substantially the form of Exhibit D. 

“LC Collateral Account” has the meaning assigned to such term in Section 2.04(h). 

“LC Disbursement” means any payment made by the Lender pursuant to a Letter of Credit. 

“LC Exposure” means, at any time, the sum of the Commercial LC Exposure and the Standby LC Exposure at such time. 

“Lender” means JPMorgan Chase Bank, N.A., its successors and assigns. 

“Letters of Credit” means the letters of credit issued pursuant to this Agreement, and the term “Letter of
Credit” means any one of them or each of them singularly, as the context may require. 
 “Letter of Credit
Agreement” has the meaning assigned to it in Section 2.04(b). 
 “LIBO Rate” means, with respect to any
Eurodollar Borrowing for any applicable Interest Period or for any CBFR Borrowing, the LIBO Screen Rate at approximately 11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest Period; provided that, if the
LIBO Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”), then the LIBO Rate shall be the Interpolated Rate. 

“LIBO Screen Rate” means, for any day and time, with respect to any Eurodollar Borrowing for any Interest Period or for any
CBFR Borrowing, the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for Dollars) for a period equal in length to such Interest Period as displayed on
such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on
the appropriate page of such other information service that publishes such rate from time to time as selected by the Lender in its reasonable discretion); provided that, if the LIBO Screen Rate as so determined would be less than 0.50%, such rate
shall be deemed to be 0.50% for the purposes of this Agreement; provided further that, notwithstanding the foregoing, with respect to the definition of “Adjusted One Month LIBOR Rate” only, if the LIBO Screen Rate as so determined would be
less than zero, such rate shall be deemed to be zero. 
 “Lien” means, with respect to any asset, (a) any mortgage,
deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any
financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

  
 15 

 “Loan Documents” means, collectively, this Agreement, each promissory note
issued pursuant to this Agreement, each Letter of Credit Agreement, each Collateral Document, the Loan Guaranty, each Compliance Certificate or other certification delivered in connection with this Agreement, and each other agreement, instrument,
document and certificate identified in Section 4.01 executed and delivered to, or in favor of, the Lender and including each other pledge, power of attorney, consent, assignment, contract, notice, letter of credit agreements, whether
heretofore, now or hereafter executed by or on behalf of any Loan Party, and delivered to the Lender in connection with this Agreement or the transactions contemplated hereby. Any reference in this Agreement or any other Loan Document to a Loan
Document shall include all appendices, exhibits or schedules thereto, and all amendments, restatements, supplements or other modifications thereto, and shall refer to this Agreement or such Loan Document as the same may be in effect at any and all
times such reference becomes operative. 
 “Loan Guarantor” means each Loan Party. 

“Loan Guaranty” means Article IX of this Agreement. 

“Loan Parties” means, collectively, the Borrower and any other Person, subject to the terms of Section 5.14 hereof, who
becomes a party to this Agreement pursuant to a Joinder Agreement and their respective successors and assigns, and the term “Loan Party” shall mean any one of them or all of them individually, as the context may require. 

“Loans” means the loans and advances made by the Lender pursuant to this Agreement. 

“Margin Stock” means margin stock within the meaning of Regulations T, U and X, as applicable. 

“Material Adverse Effect” means a material adverse effect on (a) the business, operations, or financial condition of the
Loan Parties, taken as a whole, (b) the ability of any Loan Party to perform any of its Obligations, (c) the value of the Collateral taken as a whole or the priority of Lender’s Liens (on behalf of itself and the other Secured
Parties) thereon, or (d) the rights of or benefits available to the Lender under any of the Loan Documents. 
 “Material
Indebtedness” means Indebtedness (other than the Loans and Letters of Credit), or obligations in respect of one or more Swap Agreements, of any one or more of the Loan Parties in an aggregate principal amount exceeding $5,000,000. For
purposes of determining Material Indebtedness, the “principal amount” of the obligations of the Loan Parties in respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that
such Loan Party would be required to pay if such Swap Agreement were terminated at such time. 
 “Material Real Property”:
any parcel of real property (other than a parcel with a fair market value of less than $10,000,000) owned in fee by any Loan Party. 

“Maximum Rate” has the meaning assigned to such term in Section 8.16. 

“Moody’s” means Moody’s Investors Service, Inc. 

  
 16 

 “Mortgage”: each mortgage, deed of trust and deed to secure debt in form
and substance reasonably acceptable to the Lender, as the same may be amended, supplemented or otherwise modified from time to time. 

“Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 

“Net Income” means, for any period, the consolidated net income (or loss) determined for the Borrower and its Subsidiaries,
on a consolidated basis in accordance with GAAP; provided that there shall be excluded (a) the income (or deficit) of any Person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with the Borrower or any
Subsidiary, and (b) the income (or deficit) of any Person (other than a Subsidiary) in which the Borrower or any Subsidiary has an ownership interest, except to the extent that any such income is actually received by the Borrower or such
Subsidiary in the form of dividends or similar distributions. 
 “NYFRB” means the Federal Reserve Bank of New York. 

“NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and
(b) the Overnight Bank Funding Rate in effect on such day(or for any day that is not a Business Day, for the immediately preceding Business Day); provided that if none of such rates are published for any day that is a Business Day, the term
“NYFRB Rate” means the rate for a federal funds transaction quoted at 11:00 a.m. on such day received by the Lender from a federal funds broker of recognized standing selected by it; provided, further, that if any of the aforesaid rates as
so determined would be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 
 “Obligated
Party” has the meaning assigned to such term in Section 9.02. 
 “Obligations” “ means all unpaid
principal of and accrued and unpaid interest on the Loans, all LC Exposure, all accrued and unpaid fees, and all expenses, reimbursements, indemnities and other obligations and indebtedness (including interest and fees accruing during the pendency
of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), obligations and liabilities of any of the Loan Parties to the Lender or any indemnified party, individually or
collectively, existing on the Effective Date or arising thereafter, direct or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured or unsecured, arising by contract, operation of law or
otherwise, arising or incurred under this Agreement or any of the other Loan Documents or in respect of any of the Loans made or reimbursement or other obligations incurred or any of the Letters of Credit or other instruments at any time evidencing
any thereof; provided that the definition of “Obligations” shall not create or include any guarantee by any Loan Party of any Excluded Swap Obligations of such Loan Party for purposes of determining any obligations of any
Loan Party. 
 “OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury. 

“Off-Balance Sheet Liability” of a Person means (a) any repurchase obligation or
liability of such Person with respect to accounts or notes receivable sold by such Person, (b) any indebtedness, liability or obligation under any so-called “synthetic lease” transaction entered
into by such Person, or (c) any indebtedness, liability or obligation arising with respect to any other transaction which is the functional equivalent of or takes the place of borrowing but which does not constitute a liability on the balance
sheet of such Person (other than operating leases). 

  
 17 

 “Other Connection Taxes” means, with respect to the Lender, Taxes imposed
as a result of a present or former connection between the Lender and the jurisdiction imposing such Taxes (other than a connection arising from the Lender having executed, delivered, become a party to, performed its obligations under, received
payments under, received or perfected a security interest under, engaged in any other transaction pursuant to, or enforced, any Loan Document), or sold or assigned an interest in any Loan, Letter of Credit, or any Loan Document. 

“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that
are Other Connection Taxes imposed with respect to an assignment. 
 “Overnight Bank Funding Rate” means, for any day, the
rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of depository institutions (as such composite rate shall be determined by the NYFRB as set forth on its public website from time to
time) and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate. 
 “Paid in Full”
or “Payment in Full” means, (i) the indefeasible payment in full in cash of all outstanding Loans and LC Disbursements, together with accrued and unpaid interest thereon, (ii) the termination, expiration, or cancellation
and return of all outstanding Letters of Credit (or alternatively, with respect to each such Letter of Credit, the furnishing to the Lender of a cash deposit, or at the discretion of the Lender a back-up
standby letter of credit satisfactory to the Lender, in an amount equal to 105% of the LC Exposure as of the date of such payment), (iii) the indefeasible payment in full in cash of the accrued and unpaid fees, (iv) the indefeasible payment in
full in cash of all reimbursable expenses and other Secured Obligations (other than Unliquidated Obligations for which no claim has been made and other obligations expressly stated to survive such payment and termination of this Agreement), together
with accrued and unpaid interest thereon, (v) the termination of all Commitments, and (vi) the termination of the Swap Agreement Obligations and the Banking Services Obligations or entering into other arrangements satisfactory to the
Secured Parties counterparties thereto. 
 “Participant” has the meaning assigned to such term in Section 8.04(c).

 “Participant Register” has the meaning assigned to such term in Section 8.04(c). 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing
similar functions. 
 “Permitted Encumbrances” means: 

(a) Liens imposed by law for Taxes that are not delinquent for a period of more than ninety (90) days or are being contested in compliance
with Section 5.04; 

  
 18 

 (b) carriers’, landlord’s, warehousemen’s, mechanics’,
materialmen’s, repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than ninety (90) days or are being contested in compliance with
Section 5.04; 
 (c) pledges and deposits (i) made in the ordinary course of business in compliance with workers’
compensation, unemployment insurance and other social security laws or regulations or employment laws or to secure other public, statutory or regulatory obligations and (ii) with respect to letters of credit, bank guarantees or similar
instruments issued for the account of the Borrower or any Subsidiary in the ordinary course of business supporting obligations of the type set forth in clause (c)(i) above; 

(d) pledges and deposits to (i) secure the performance of bids, trade and commercial contracts, government contracts, leases, statutory
obligations, surety and appeal bonds, performance and completion bonds and other obligations of a like nature, in each case in the ordinary course of business and (ii) in respect of letters of credit, bank guarantees or similar instruments
issued for the account of the Borrower or any Subsidiary in the ordinary course of business supporting obligations of the type set forth in clause (d)(i); 

(e) judgment Liens in respect of judgments that do not constitute an Event of Default under clause (k) of Article VII or securing
appeal or surety bonds related to such judgments; 
 (f) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of
the affected property or interfere with the ordinary conduct of business of the Borrower or any Subsidiary; 
 (g) banker’s liens,
rights of setoff or similar rights and remedies as to deposit accounts or other funds maintained with depository institutions and payment processors; provided that such deposit accounts or funds are not established or deposited for the purpose of
providing collateral for any Indebtedness; 
 (h) any interest or title of a licensor under any license or sublicense entered into by the
Borrower or any Subsidiary as a licensee or sublicensee (i) existing on the date hereof and set forth on Schedule 6.02 of the Disclosure Letter or (ii) in the ordinary course of its business; 

(i) non-exclusive licenses, sublicenses, leases or subleases granted (i) between or among any of
the Loan Parties or any of their Subsidiaries (or any combination thereof) or (ii) to other Persons permitted under Section 6.03; 

(j) possessory Liens in favor of brokers and dealers arising in connection with the acquisition or disposition of Permitted Investments; 

(k) statutory Liens of landlords; 

(l) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the
importation of goods; and 

  
 19 

 (m) any interest or title of a lessor, sublessor, licensor or sublicensor under any leases,
subleases, licenses or sublicenses entered into by the Company or any Subsidiary as lessee, sublessee, sublessor, licensor or sublicensor in the ordinary course of business. 

“Permitted Holder” means Tulco LLC, a Delaware limited liability company. 

“Permitted Investments” means: 

(a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the U.S. (or by any agency
thereof to the extent such obligations are backed by the full faith and credit of the U.S.), in each case maturing within one year from the date of acquisition thereof; 

(b) investments in commercial paper maturing within 270 days from the date of acquisition thereof and having, at such date of acquisition, the
highest credit rating obtainable from S&P or from Moody’s; 
 (c) investments in certificates of deposit, bankers’ acceptances
and time deposits maturing within 180 days from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized under the laws of
the U.S. or any state thereof which has a combined capital and surplus and undivided profits of not less than $500,000,000; 
 (d) fully
collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) above and entered into with a financial institution satisfying the criteria described in clause (c) above; and 

(e) money market funds that (i) comply with the criteria set forth in Securities and Exchange Commission Rule 2a-7 under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $500,000,000; 

(f) investments with average maturities of 12 months or less from the date of acquisition in money market funds rated AAA- (or the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody’s (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an
equivalent rating from another nationally recognized statistical rating agency); and 
 (g) investment funds investing substantially all of
their assets in securities of the types described in clauses (a) through (f) above. 
 “Permitted Lien” means any Lien
permitted under Section 6.02. 
 “Person” means any natural person, corporation, limited liability company, trust,
joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means any employee
pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were
terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

  
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 “Plan Asset Regulations” means 29 CFR
§ 2510.3-101 et seq., as modified by Section 3(42) of ERISA, as amended from time to time. 

“Prime Rate” means the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or,
if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or,
if such rate is no longer quoted therein, any similar rate quoted therein (as determined by the Lender) or any similar release by the Federal Reserve Board (as determined by the Lender). Each change in the Prime Rate shall be effective from and
including the date such change is publicly announced or quoted as being effective. 
 “Projections” has the meaning
assigned to such term in Section 5.01(f). 
 “QFC” has the meaning assigned to the term “qualified financial
contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 
 “QFC Credit Support” has the
meaning assigned to it in Section 8.19. 
 “Qualified ECP Guarantor” means, in respect of any Swap Obligation, each
Loan Party that has total assets exceeding $10,000,000 at the time the relevant Loan Guaranty or grant of the relevant security interest becomes or would become effective with respect to such Swap Obligation or such other person as constitutes an
“eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time by entering into a keepwell
under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 “Refinance Indebtedness” has the meaning assigned to
such term in Section 6.01(f). 
 “Regulation D” means Regulation D of the Federal Reserve Board, as in effect from
time to time and all official rulings and interpretations thereunder or thereof. 
 “Regulation U” means Regulation U of
the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations thereunder or thereof. 

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors,
officers, partners, members, trustees, employees, agents, administrators, managers, representatives and advisors of such Person and such Person’s Affiliates. 

“Release” means any releasing, spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping,
leaching, migrating, disposing, or dumping of any substance into the environment. 
 “Report” means reports prepared by the
Lender or another Person showing the results of appraisals, field examinations or audits pertaining to the Borrower’s assets from information furnished by or on behalf of the Borrower, after the Lender has exercised its rights of inspection
pursuant to this Agreement. 

  
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 “Requirement of Law” means, with respect to any Person, (a) the
charter, articles or certificate of organization or incorporation and bylaws or operating, management or partnership agreement, or other organizational or governing documents of such Person and (b) any statute, law (including common law),
treaty, rule, regulation, code, ordinance, order, decree, writ, judgment, injunction or determination of any arbitrator or court or other Governmental Authority (including Environmental Laws), in each case applicable to or binding upon such Person
or any of its property or to which such Person or any of its property is subject. 
 “Responsible Officer” means the Chief
Executive Officer, President, Financial Officer, or other executive officer of the Borrower. 
 “Restricted Payment” means
any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or
similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests or any option, warrant or other right to acquire any such Equity Interests. Notwithstanding the foregoing, and
for the avoidance of doubt, the conversion of any convertible debt security into an Equity Interests shall not constitute a Restricted Payment. 

“Revolving Commitment” means the commitment of the Lender to make Revolving Loans and issue Letters of Credit hereunder, as
such commitment may be reduced or terminated from time to time pursuant to Section 2.07. The initial amount of the Lender’s Revolving Commitment is $50,000,000. 

“Revolving Credit Maturity Date” means December 2, 2025, or any earlier date on which the Revolving Commitment is
reduced to zero or otherwise terminated pursuant to the terms hereof. 
 “Revolving Exposure” means, at any time, the sum
of the aggregate outstanding principal amount of the Lender’s Revolving Loans and its LC Exposure at such time. 
 “Revolving
Loan” means a Loan made pursuant to Section 2.01(a). 
 “S&P” means Standard & Poor’s
Ratings Services, a Standard & Poor’s Financial Services LLC business. 
 “Sale and Leaseback Transaction”
has the meaning assigned to such term in Section 6.06. 
 “Sanctioned Country” means, at any time, a country, region
or territory which is the subject or target of any Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea, and Syria). 

  
 22 

 “Sanctioned Person” means, at any time, (a) any Person listed in any
Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, by the United Nations Security Council, the European Union, any European Union
member state, Her Majesty’s Treasury of the United Kingdom, or other relevant sanctions authority, (b) any Person operating, organized or resident in a Sanctioned Country, (c) any Person owned or controlled by any such Person or
Persons described in the foregoing clauses (a) or (b), or (d) any Person otherwise the subject of any Sanctions. 

“Sanctions” means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time
by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union, any
European Union member state or Her Majesty’s Treasury of the United Kingdom or other relevant sanctions authority. 

“SEC” means the Securities and Exchange Commission of the U.S. 

“Secured Obligations” means all Obligations, together with all (i) Banking Services Obligations and (ii) Swap
Agreement Obligations owing to the Lender or its Affiliates; provided, however, that the definition of “Secured Obligations” shall not create any guarantee by any Loan Guarantor of (or grant of security interest by any Loan
Guarantor to support, as applicable) any Excluded Swap Obligations of such Loan Guarantor for purposes of determining any obligations of any Loan Guarantor. 

“Secured Parties” means (a) the Lender, (b) each provider of Banking Services, to the extent the Banking Services
Obligations in respect thereof constitute Secured Obligations, (c) each counterparty to any Swap Agreement, to the extent the obligations thereunder constitute Secured Obligations, (d) the beneficiaries of each indemnification obligation
undertaken by any Loan Party under any Loan Document and (e) the successors and assigns of each of the foregoing. 
 “Security
Agreement” means that certain Pledge and Security Agreement (including any and all supplements thereto), dated as of the date hereof, among the Loan Parties and the Lender, for the benefit of the Secured Parties, and any other pledge or
security agreement entered into, after the date of this Agreement by any other Loan Party (as required by this Agreement or any other Loan Document) or any other Person for the benefit of the Lender, on behalf of the Secured Parties, as the same may
be amended, restated, supplemented or otherwise modified from time to time. 
 “Standby LC Exposure” means, at any time,
the sum of (a) the aggregate undrawn amount of all standby Letters of Credit outstanding at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been
reimbursed by or on behalf of the Borrower at such time. 
 “Statements” has the meaning assigned to such term in
Section 2.16(d). 
 “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the
number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentage (including any marginal, special, emergency or supplemental reserves) established by the Federal Reserve Board to which the Lender is
subject with respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D). Such reserve percentages shall include those imposed pursuant to

  
 23 

 
Regulation D of the Federal Reserve Board. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for
proration, exemptions or offsets that may be available from time to time to the Lender under Regulation D of the Federal Reserve Board or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the
effective date of any change in any reserve percentage. 
 “subsidiary” means, with respect to any Person (the
“parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements
if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests
representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of
such date, otherwise Controlled, by the parent and/or by the parent and one or more subsidiaries of the parent. 
 “Subordinated
Indebtedness” of a Person means any Indebtedness of such Person, the payment of which is subordinated to payment of the Secured Obligations to the written reasonable satisfaction of the Lender. 

“Subsidiary” means any direct or indirect subsidiary of the Borrower or a Loan Party, as applicable. 

“Supported QFC” has the meaning assigned to it in Section 9.21. 

“Swap Agreement” means any agreement with respect to any swap, forward, spot, future, credit default or derivative
transaction or any option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial
or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers,
employees or consultants of the Borrower or the Subsidiaries shall be a Swap Agreement. 
 “Swap Agreement Obligations”
means any and all obligations of the Loan Parties or their Subsidiaries, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and
substitutions therefor), under (a) any Swap Agreement permitted hereunder with the Lender or an Affiliate of the Lender, and (b) any cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction
permitted hereunder with the Lender or an Affiliate of the Lender. 
 “Swap Obligation” means, with respect to any Loan
Guarantor, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act or any rules or regulations promulgated thereunder.

  
 24 

 “Taxes” means any and all present or future taxes, levies, imposts, duties,
deductions, withholdings (including backup withholding), value added taxes, or any other goods and services, use or sales taxes, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or
penalties applicable thereto. 
 “Total Indebtedness” means, at any date, the aggregate principal amount of all
Indebtedness determined for the Borrower and its Subsidiaries on a consolidated basis at such date. 
 “Total Leverage
Ratio” means, on any date, the ratio of (a) Total Indebtedness on such date to (b) EBITDA for the twelve-month period ended on or most recently prior to such date. 

“Transactions” means the execution, delivery and performance by the Borrower of this Agreement and the other Loan Documents,
the borrowing of Loans and other credit extensions, the use of the proceeds thereof and the issuance of Letters of Credit hereunder. 

“Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans
comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the CB Floating Rate. 
 “UCC” means the
Uniform Commercial Code as in effect from time to time in the State of California or in any other state, the laws of which are required to be applied in connection with the issue of perfection of security interests. 

“Unliquidated Obligations” means, at any time, any Secured Obligations (or portion thereof) that are contingent in nature or
unliquidated at such time, including any Secured Obligation that is: (i) an obligation to reimburse a bank for drawings not yet made under a letter of credit issued by it; (ii) any other obligation (including any guarantee) that is
contingent in nature at such time; or (iii) an obligation to provide collateral to secure any of the foregoing types of obligations. 

“U.S.” means the United States of America. 

“U.S. Special Resolution Regime” has the meaning assigned to it in Section 8.19. 

“USA PATRIOT Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001. 
 “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete
or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
 “Zero
Percent LCs” has the meaning assigned to such term in Section 2.04(g). 
 SECTION 1.02. Classification of Loans and
Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a
“Eurodollar Revolving Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type (e.g.,
a “Eurodollar Revolving Borrowing”). 

  
 25 

 SECTION 1.03. Terms Generally. The definitions of terms herein shall apply
equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”. The word “law” shall be construed as referring to all statutes, rules, regulations, codes and other laws (including official rulings and
interpretations thereunder having the force of law or with which affected Persons customarily comply) and all judgments, orders and decrees of all Governmental Authorities. The word “will” shall be construed to have the same meaning and
effect as the word “shall”. Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document
as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments, restatements, supplements or modifications set forth herein), (b) any definition of or reference to any statute, rule or
regulation shall be construed as referring thereto as from time to time amended, supplemented or otherwise modified (including by succession of comparable successor laws), (c) any reference herein to any Person shall be construed to include such
Person’s successors and assigns (subject to any restrictions on assignments set forth herein) and, in the case of any Governmental Authority, any other Governmental Authority that shall have succeeded to any or all functions thereof,
(d) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (e) all references
herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (f) any reference in any definition to the phrase “at any
time” or “for any period” shall refer to the same time or period for all calculations or determinations within such definition, and (g) the words “asset” and “property” shall be construed to have the same
meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

SECTION 1.04. Accounting Terms; GAAP. (a) Except as otherwise expressly provided herein, all terms of an accounting or
financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if after the date hereof there occurs any change in GAAP or in the application thereof on the operation of any provision hereof and
the Borrower notifies the Lender that the Borrower requests an amendment to any provision hereof to eliminate the effect of such change in GAAP or in the application thereof (or if the Lender notifies the Borrower that the Lender requests an
amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and
applied immediately before such migration or change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. Notwithstanding any other provision contained herein, all terms of an
accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made (i) without giving effect to any election under Financial Accounting Standards Board Accounting Standards
Codification 825-10-25 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Indebtedness or
other liabilities of any Loan Party, the Borrower, or any Subsidiary at “fair value”, as defined therein and (ii) 

  
 26 

 
without giving effect to any treatment of Indebtedness in respect of convertible debt instruments under Financial Accounting Standards Board Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and
such Indebtedness shall at all times be valued at the full stated principal amount thereof. 
 (b) Notwithstanding anything to the contrary
contained in Section 1.04(a) or in the definition of “Capital Lease Obligations,” in the event of an accounting change requiring all leases to be capitalized, only those leases (assuming for purposes hereof that such leases
were in existence on the date hereof) that would constitute capital leases in conformity with GAAP on the date hereof shall be considered capital leases, and all calculations and deliverables under this Agreement or any other Loan Document shall be
made or delivered, as applicable, in accordance therewith. 
 SECTION 1.05. Interest Rates; LIBOR Notification. The interest
rate on Eurodollar Loans is determined by reference to the LIBO Rate, which is derived from the London interbank offered rate (“LIBOR”). LIBOR is intended to represent the rate at which contributing banks may obtain short-term
borrowings from each other in the London interbank market. In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks to make rate submissions to the ICE
Benchmark Administration (together with any successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting LIBOR. As a result, it is possible that commencing in 2022, LIBOR may no longer be available or may
no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurodollar Loans. In light of this eventuality, public and private sector industry initiatives are currently underway to identify new or alternative
reference rates to be used in place of LIBOR. In the event a Benchmark Transition Event occurs, Section 2.12(c) of this Agreement provides a mechanism for determining an alternative rate of interest. The Lender will notify the Borrower,
pursuant to Section 2.12(c), in advance of any change to the reference rate upon which the interest rate of Eurodollar Loans is based. However, the Lender does not warrant or accept any responsibility for, and shall not have any liability with
respect to, the administration, submission or any other matter related to LIBOR or other rates in the definition of “LIBO Rate” or with respect to any alternative, successor rate thereto, or replacement rate thereof, including without
limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate will be similar to, or produce the same value or economic equivalence of the LIBO Rate or have the same volume or liquidity as
did LIBOR prior to its discontinuance or unavailability. 
 SECTION 1.06. Pro Forma Adjustments for Acquisitions and
Dispositions. To the extent the Borrower or any Subsidiary makes any acquisition permitted pursuant to Section 6.04 or disposition of assets outside the ordinary course of business permitted by Section 6.05 during the period of four
fiscal quarters of the Borrower most recently ended, the Total Leverage Ratio shall be calculated after giving pro forma effect thereto (including pro forma adjustments arising out of events which are directly attributable to the acquisition or the
disposition of assets, are factually supportable and are expected to have a continuing impact, in each case as determined on a basis consistent with Article 11 of Regulation S-X of the Securities Act of
1933, as amended, as interpreted by the SEC, and as certified by a Financial Officer), as if such acquisition or such disposition (and any related incurrence, repayment or assumption of Indebtedness) had occurred in the first day of such
four-quarter period. 

  
 27 

 ARTICLE II 

The Credits 

SECTION 2.01. Revolving Commitments. Subject to the terms and conditions set forth herein, the Lender agrees to make Revolving
Loans in dollars to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (i) the Revolving Exposure exceeding the Revolving Commitment. Within the foregoing limits and subject to
the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans. 
 SECTION 2.02. Loans and
Borrowings. 
 (a) Each Loan shall be made as part of a Borrowing consisting of Loans of the same Class and Type. 

(b) Subject to Section 2.12, each Revolving Borrowing shall be comprised entirely of CBFR Loans or Eurodollar Loans as the Borrower may
request in accordance herewith, provided that all Revolving Borrowings made on the Effective Date must be made as CBFR Borrowings but may be converted into Eurodollar Borrowings in accordance with Section 2.06. The Lender at its option
may make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of the Lender to make such Loan (and in the case of an Affiliate, the provisions of Sections 2.12, 2.13, 2.14, and 2.15 shall apply to such Affiliate to the
same extent as to the Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 

(c) At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is an
integral multiple of $100,000 and not less than $500,000. CBFR Borrowings may be in any amount. Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at any time be more than a
total of ten (10) Eurodollar Borrowings outstanding. 
 (d) Notwithstanding any other provision of this Agreement, the Borrower shall
not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Revolving Credit Maturity Date. 

SECTION 2.03. Borrowing Procedures; Requests for Revolving Borrowings. To request a Borrowing, the Borrower shall notify the
Lender of such request either in writing (delivered by hand or fax) by delivering a Borrowing Request signed by a Responsible Officer of the Borrower or through Electronic System, if arrangements for doing so have been approved by the Lender,
(a) in the case of a Eurodollar Borrowing, not later than 1:00 p.m., Eastern time, one (1) Business Day before the date of the proposed Borrowing or (b) in the case of a CBFR Borrowing, not later than 3:00 p.m., Eastern time, on the
date of the proposed Borrowing; provided that any such notice of a CBFR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.04(d) may be given not later than noon, Eastern time, on the date
of the proposed Borrowing. Each such Borrowing Request shall be irrevocable. Each such Borrowing Request shall specify the following information in compliance with Section 2.01: 

  
 28 

 (i) the Class of Borrowing, the aggregate amount of the requested
Borrowing, and a breakdown of the separate wires comprising such Borrowing; 
 (ii) the date of such Borrowing, which shall
be a Business Day; and 
 (iii) the initial Interest Period to be applicable thereto, which shall be a period contemplated by
the definition of the term “Interest Period.” 
 If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the
Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration. 
 SECTION 2.04. Letters of
Credit. 
 (a) General. Subject to the terms and conditions set forth herein, the Borrower may request the issuance of Letters of
Credit denominated in dollars as the applicant thereof for the support of its or its Subsidiaries’ obligations, in a form reasonably acceptable to the Lender, at any time and from time to time during the Availability Period. In the event of any
inconsistency between the terms and conditions of this Agreement and the terms and conditions of any Letter of Credit Agreement, the terms and conditions of this Agreement shall control. Notwithstanding anything herein to the contrary, the Lender
shall have no obligation hereunder to issue, and shall not issue, any Letter of Credit (i) the proceeds of which would be made available to any Person (A) to fund any activity or business of or with any Sanctioned Person, or in any country
or territory that, at the time of such funding, is the subject of any Sanctions or (B) in any manner that would result in a violation of any Sanctions by any party to this Agreement, (ii) if any order, judgment or decree of any
Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the Lender from issuing such Letter of Credit, or any Requirement of Law relating to the Lender or any request or directive (whether or not having the force of
law) from any Governmental Authority with jurisdiction over the Lender shall prohibit, or request that the Lender refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the Lender with
respect to such Letter of Credit any restriction, reserve or capital requirement (for which the Lender is not otherwise compensated hereunder) not in effect on the Effective Date, or shall impose upon the Lender any unreimbursed loss, cost or
expense which was not applicable on the Effective Date and which the Lender in good faith deems material to it, or (iii) if the issuance of such Letter of Credit would violate one or more policies of the Lender applicable to letters of credit
generally; provided that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements or directives thereunder or issued in connection
therewith or in the implementation thereof, and (y) all requests, rules, guidelines, requirements or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar
authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed not to be in effect on the Effective Date for purposes of clause (ii) above, regardless of the date enacted,
adopted, issued or implemented. 

  
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 (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request
the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or fax (or transmit through Electronic System, if arrangements for doing so have been approved by the
Lender) to the Lender (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three (3) Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the
Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph
(c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof, and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. In addition, as a condition
to any such Letter of Credit issuance, the Borrower shall have entered into a continuing agreement (or other letter of credit agreement) for the issuance of letters of credit and/or shall submit a letter of credit application, in each case, as
required by the Lender and using Lender’s standard form (each, a “Letter of Credit Agreement”). A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of
each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed the Revolving Commitment minus the aggregate
outstanding principal amount of the Revolving Exposure, (ii) the Revolving Exposure shall not exceed the Revolving Commitment. 
 (c)
Expiration Date. Each Letter of Credit shall expire (or be subject to termination or non-renewal by notice from the Lender to the beneficiary thereof) at or prior to the close of business on the earlier
of (i) the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, including, without limitation, any automatic renewal provision, one year after such renewal or extension) and
(ii) the date that is five Business Days prior to the Revolving Credit Maturity Date. 
 (d) Reimbursement. If the Lender shall
make any LC Disbursement in respect of a Letter of Credit, the Borrower shall reimburse such LC Disbursement by paying to the Lender an amount equal to such LC Disbursement not later than 2:00 p.m., Eastern time, on (i) the Business Day that
the Borrower receives notice of such LC Disbursement, if such notice is received prior to noon, Eastern time, on the day of receipt, or (ii) the Business Day immediately following the day that the Borrower receives such notice, if such notice
is received after noon, Eastern time, on the day of receipt; provided that, if such LC Disbursement is greater than or equal to $500,000, the Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with
Section 2.03 or 2.05 that such payment be financed with a CBFR Revolving Borrowing in an equivalent amount and, to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting
CBFR Revolving Borrowing. 
 (e) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in
paragraph (d) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of any (i) lack
of validity or enforceability of any Letter of Credit, any Letter of Credit Agreement or this Agreement, or any term or provision therein or herein, (ii) draft or other document presented under a Letter of Credit proving to be forged,
fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Lender under a Letter of Credit against presentation of a draft or other document that does not comply with the terms
of such Letter of Credit, or (iv) other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of
setoff 

  
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against, the Borrower’s obligations hereunder. Neither the Lender nor any of its Related Parties, shall have any liability or responsibility by reason of or in connection with the issuance
or transfer of any Letter of Credit, any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or
delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes
beyond the control of the Lender; provided that the foregoing shall not be construed to excuse the Lender from liability to the Borrower to the extent of any direct damages (as opposed to special, indirect, consequential or punitive damages,
claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by the Lender’s failure to exercise care when determining whether drafts and other documents
presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the Lender (as finally determined by a court of competent
jurisdiction), the Lender shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on
their face to be in substantial compliance with the terms of a Letter of Credit, the Lender may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or
information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit. 

(f) Disbursement Procedures. The Lender shall, promptly following its receipt thereof, examine all documents purporting to represent a
demand for payment under a Letter of Credit. The Lender shall promptly notify the Borrower by telephone (confirmed by fax or through Electronic Systems) of such demand for payment and whether the Lender has made or will make an LC Disbursement
thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Lender with respect to any such LC Disbursement. 

(g) Interim Interest. If the Lender shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in
full on the date such LC Disbursement is made, the unpaid amount thereof (other than with respect to Zero Percent LCs) shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the
Borrower reimburses such LC Disbursement, at the rate per annum then applicable to CBFR Revolving Loans and such interest shall be due and payable on the date when such reimbursement is due; provided that, for the avoidance of doubt, LC
Disbursements of up to $3,500,000 shall bear interest at a rate of 0% per annum (the “Zero Percent LCs”); provided, further, that if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph
(d) of this Section, then Section 2.11(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Lender. 

  
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 (h) Cash Collateralization. If any Event of Default shall occur and be continuing, on
the Business Day that the Borrower receives notice from the Lender demanding the deposit of cash collateral pursuant to this paragraph, the Borrower shall deposit in an account with the Lender, in the name and for the benefit of the Lender (the
“LC Collateral Account”), an amount in cash equal to 102% of the amount of the LC Exposure as of such date plus accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall
become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in clause (h) or (i) of
Article VII. The Borrower also shall deposit cash collateral in accordance with this paragraph as and to the extent required by Section 2.09(b). Each such deposit shall be held by the Lender as collateral for the payment and performance of
the Secured Obligations. The Lender shall have exclusive dominion and control, including the exclusive right of withdrawal, over the LC Collateral Account and the Borrower hereby grants the Lender a security interest in the LC Collateral Account and
all moneys or other assets on deposit therein or credited thereto. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Lender and at the Borrower’s risk and
expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Lender for LC Disbursements for which it has not been reimbursed and,
to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated, be applied to satisfy other Secured
Obligations. If the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three
(3) Business Days after all such Events of Default have been cured or waived as confirmed in writing by the Lender. 
 (i) LC
Exposure Determination. For all purposes of this Agreement, the amount of a Letter of Credit that, by its terms or the terms of any document related thereto, provides for one or more automatic increases in the stated amount thereof shall be
deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at the time of determination. 

(j) Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder
supports any obligations of, or is for the account of, a Subsidiary, or states that a Subsidiary is the “account party,” “applicant,” “customer,” “instructing party,” or the like of or for such Letter of
Credit, and without derogating from any rights of the Lender (whether arising by contract, at law, in equity or otherwise) against such Subsidiary in respect of such Letter of Credit, the Borrower (i) shall reimburse, indemnify and compensate
the Lender hereunder for such Letter of Credit (including to reimburse any and all drawings thereunder) as if such Letter of Credit had been issued solely for the account of the Borrower and (ii) irrevocably waives any and all defenses that
might otherwise be available to it as a guarantor or surety of any or all of the obligations of such Subsidiary in respect of such Letter of Credit. The Borrower hereby acknowledges that the issuance of such Letters of Credit for its Subsidiaries
inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. 

SECTION 2.05. Funding of Borrowings. The Lender shall make each Loan to be made by it hereunder on the proposed date thereof
available to the Borrower by promptly crediting the amounts in immediately available funds, to the Funding Account; provided that CBFR Revolving Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.04(d)
shall be remitted to the Lender. 

  
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 SECTION 2.06. Interest Elections. 

(a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing,
shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect
Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.

 (b) To make an election pursuant to this Section, the Borrower shall notify the Lender of such election either in writing (delivered by
hand or fax) by delivering an Interest Election Request signed by a Responsible Officer of the Borrower or through Electronic System, if arrangements for doing so have been approved by the Lender, by the time that a Borrowing Request would be
required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such Interest Election Request shall be irrevocable. 

(c) Each telephonic and written Interest Election Request (including requests submitted through Electronic System) shall specify the following
information in compliance with Section 2.02: 
 (i) the Borrowing to which such Interest Election Request applies and,
if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be
specified for each resulting Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day; 
 (iii) the Interest Period to be applicable thereto after giving effect to such
election, which shall be a period contemplated by the definition of the term “Interest Period”. 
 If any such Interest Election Request does not
specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration. 

(d) If the Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Borrowing prior to the end of the Interest
Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to a CBFR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has
occurred and is continuing and the Lender so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing and (ii) unless repaid, each
Eurodollar Borrowing shall be converted to a CBFR Borrowing at the end of the Interest Period applicable thereto. 

  
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 SECTION 2.07. Termination or Reduction of Commitment; Increase in Revolving
Commitment. 
 (a) Unless previously terminated, the Revolving Commitment shall terminate on the Revolving Credit Maturity Date. 

(b) The Borrower may at any time terminate the Revolving Commitment upon the Payment in Full of the Secured Obligations. 

(c) The Borrower shall notify the Lender of any election to terminate the Revolving Commitment under paragraph (b) or (c) of this
Section at least three (3) Business Days prior to the effective date of such termination, specifying such election and the effective date thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable;
provided that a notice of termination of the Revolving Commitment delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower
(by notice to the Lender on or prior to the specified effective date) if such condition is not satisfied. 
 (d) The Borrower may from time
to time permanently reduce a part of the Revolving Commitment. The Borrower shall notify the Lender of any election to reduce the Revolving Commitment at least three (3) Business Days prior to the effective date of such reduction, specifying
such election and the effective date thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable. The reduction of the Revolving Commitment shall be effective upon prepayment of the amount by which the principal
amount of the Revolving Exposure exceeds the reduced amount of the Revolving Commitment resulting from such reduction, including, without limitation, payment of all interest accrued thereon, in accordance with the terms of Section 2.11;
provided that, the Revolving Commitment may not be reduced such that the Revolving Commitment would be less than the Revolving Exposure. 

(e) The Borrower shall have the right to request an increase to the Revolving Commitments by obtaining additional Revolving Commitments up to
an aggregate amount of $25,000,000, either from the Lender or another lending institution acceptable to Lender, provided that (i) any such request for an increase shall be in a minimum amount of $5,000,000, (ii) the Borrower may make a maximum
of two (2) such requests each year, (iii) after giving effect thereto, the sum of the total of the additional Commitments does not exceed $75,000,000 during the term of this Agreement, (iv) the Lender has approved the identity of any
such new Lender, such approvals not to be unreasonably withheld, (v) any such new Lender assumes all of the rights and obligations of a “Lender” hereunder, and (vi) the procedures described in Sections 2.07(e) below have
been satisfied. Nothing contained in this Section 2.07 shall constitute, or otherwise be deemed to be, a commitment on the part of the Lender to increase its Commitment hereunder at any time. 

(f) Any amendment hereto for such an increase or addition shall be in form and substance satisfactory to the Lender. As a condition precedent
to such an increase or addition, the Borrower shall deliver to the Lender (i) a certificate of each Loan Party signed by an authorized officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party
approving or consenting to such increase, and (B) in the case of the Borrower, certifying that, 

  
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before and after giving effect to such increase or addition, (1) the representations and warranties contained in Article III and the other Loan Documents are true and correct, except to
the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, (2) no Default exists and (3) the Borrower is in compliance (on a pro forma basis)
with the covenants contained in Section 6.12 and (ii) documents consistent with those delivered on the Effective Date, to the extent requested by the Lender. 

SECTION 2.08. Repayment of Loans; Evidence of Debt. 

(a) The Borrower hereby unconditionally promises to pay the Lender the then unpaid principal amount of each Revolving Loan on the Revolving
Credit Maturity Date. 
 (b) The Lender shall maintain in accordance with its usual practice an account or accounts evidencing the
Indebtedness of the Borrower to the Lender resulting from each Loan made by the Lender, including the amounts of principal and interest payable and paid to the Lender from time to time hereunder. 

(c) The Lender shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type
thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to the Lender hereunder and (iii) the amount of any sum received by the
Lender hereunder. 
 (d) The entries made in the accounts maintained pursuant to paragraph (b) and (c) of this Section shall be
prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of the Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the
Borrower to repay the Loans in accordance with the terms of this Agreement. 
 (e) The Lender may request that Loans made by it be evidenced
by a promissory note. In such event, the Borrower shall prepare, execute and deliver to the Lender a promissory note payable to the Lender (or, if requested by the Lender, to the Lender and its registered assigns) and in a form approved by the
Lender. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 8.04) be represented by one or more promissory notes in such form. 

SECTION 2.09. Prepayment of Loans. 

(a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in
accordance with paragraph (c) of this Section and, if applicable, payment of any break funding expenses under Section 2.14. 

(b) In the event and on such occasion that the Revolving Exposure exceeds the Revolving Commitment, the Borrower shall prepay the Revolving
Loans, and/or LC Exposure (or, if no such Borrowings are outstanding, deposit cash collateral in the LC Collateral Account in an aggregate amount equal to such excess, in accordance with Section 2.04(h)). 

  
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 (c) The Borrower shall notify the Lender by telephone (confirmed by fax) or through
Electronic System, if arrangements for doing so have been approved by the Lender, of any prepayment under this Section: (i) in the case of prepayment of a Eurodollar Borrowing, not later than 1:00 p.m., Eastern time, three (3) Business
Days before the date of prepayment, or (ii) in the case of prepayment of a CBFR Borrowing, not later than 1:00 p.m., Eastern time, one (1) Business Day before the date of prepayment. Each such notice shall be irrevocable and shall specify
the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that if a notice of prepayment is given in connection with a conditional notice of termination of the Revolving Commitment as
contemplated by Section 2.07, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.07. Each partial prepayment of any Revolving Borrowing shall be in an amount that would be
permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the
Loans included in the prepaid Borrowing. Prepayments shall be accompanied by (i) accrued interest to the extent required by Section 2.11 and (ii) break funding payments pursuant to Section 2.14. 

SECTION 2.10. Fees. 

(a) The Borrower agrees to pay to the Lender a commitment fee, which shall accrue at one quarter of one percent (0.25%) per annum, on the daily
amount of the undrawn portion of the Revolving Commitment of the Lender during the period from and including the Effective Date to but excluding the date on which the Lender’s Revolving Commitment terminates; it being understood that the LC
Exposure shall be included in the drawn portion of the Revolving Commitment for purposes of calculating the commitment fee. Accrued commitment fees shall be payable in arrears on the last day of March, June, September and December of each year and
on the date on which the Revolving Commitment terminates, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days
elapsed (including the first day but excluding the last day). 
 (b) Other than with respect to the Zero Percent LCs, the Borrower agrees to
pay (i) to the Lender a letter of credit fee with respect to Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Eurodollar Loans on the daily amount of the Lender’s LC
Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which the Lender’s Revolving Commitment terminates and the
date on which the Lender ceases to have any LC Exposure, and (ii) the Lender’s standard fees and commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of
Credit or processing of drawings thereunder. Letter of credit fees accrued through and including the last day of March, June, September and December of each year shall be payable on the third Business Day following such last day, commencing on the
first such date to occur after the Effective Date; provided that all such fees shall be payable on the date on which the Revolving Commitment terminates and any such fees accruing after the date on which the Revolving Commitment terminates shall be
payable on demand. Any other fees payable to the Lender pursuant to this paragraph shall be payable within ten (10) days after demand. All letter of credit fees shall be computed on the basis of a year of 360 days and shall be payable for the
actual number of days elapsed (including the first day but excluding the last day). 

  
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 (c) The Borrower agrees to pay to the Lender an upfront fee in an aggregate amount equal to
$100,000. The entire upfront fee shall be deemed fully earned by the Lender and shall be due and payable in full on the Effective Date. 

(d) All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Lender. Fees paid shall not be refundable
under any circumstances. 
 SECTION 2.11. Interest. 

(a) The Loans comprising each CBFR Borrowing shall bear interest at the CB Floating Rate plus the Applicable Rate. 

(b) The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such
Borrowing plus the Applicable Rate. 
 (c) Notwithstanding the foregoing, during the occurrence and continuance of an Event of Default, the
Lender may, at its option, by notice to the Borrower, declare that (i) all Loans shall bear interest at 2% per annum plus the rate otherwise applicable to such Loans as provided in the preceding paragraphs of this Section or (ii) in
the case of any other amount outstanding hereunder, such amount shall accrue at 2% per annum plus the rate applicable to such fee or other obligation as provided hereunder. 

(d) Accrued interest on each Loan (for CBFR Loans, accrued through the last day of the prior calendar month) shall be payable in arrears on
each Interest Payment Date for such Loan and, in the case of Revolving Loans, upon termination of the Revolving Commitment; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on
demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of a CBFR Revolving Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on
the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such
conversion. 
 (e) All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to
the CB Floating Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable CB
Floating Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Lender, and such determination shall be conclusive absent manifest error. 

  
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 SECTION 2.12. Alternate Rate of Interest; Illegality. 

(a) If prior to the commencement of any Interest Period for a Eurodollar Borrowing: 

(i) the Lender determines (which determination shall be conclusive and binding absent manifest error) that adequate and
reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable (including, without limitation, by means of an Interpolated Rate or because the LIBO Screen Rate is not available or published on a current basis)
for such Interest Period; provided that no Benchmark Transition Event shall have occurred at such time; or 
 (ii) the Lender
determines the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to the Lender of making or maintaining its Loans (or Loan) included in such Borrowing for such Interest
Period; provided that no Benchmark Transition Event shall have occurred at such time; 
 then the Lender shall give notice thereof to the Borrower by
telephone, fax or through an Electronic System as provided in Section 8.01 as promptly as practicable thereafter and, until the Lender notifies the Borrower that the circumstances giving rise to such notice no longer exist, (A) any
Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective and any such Eurodollar Borrowing shall be repaid or converted into a CBFR Borrowing on the
last day of the then current Interest Period applicable thereto, and (B) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as a CBFR Borrowing. 

(b) If the Lender determines that any Requirement of Law has made it unlawful, or if any Governmental Authority has asserted that it is
unlawful, for the Lender or its applicable lending office to make, maintain, fund or continue any Eurodollar Borrowing, or any Governmental Authority has imposed material restrictions on the authority of the Lender to purchase or sell, or to take
deposits of, dollars in the London interbank market, then, on notice thereof by the Lender to the Borrower, any obligations of the Lender to make, maintain, fund or continue Eurodollar Loans or to convert CBFR Borrowings to Eurodollar Borrowings
will be suspended until the Lender notifies the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the Borrower will upon demand from the Lender, either prepay or convert all Eurodollar
Borrowings of the Lender to CBFR Borrowings, either on the last day of the Interest Period therefor, if the Lender may lawfully continue to maintain such Eurodollar Borrowings to such day, or immediately, if the Lender may not lawfully continue to
maintain such Loans. Upon any such prepayment or conversion, the Borrower will also pay accrued interest on the amount so prepaid or converted. 

(c) If a Benchmark Transition Event occurs, then the Lender may, by notice to Borrower, select an alternate rate of interest for the LIBO Rate
that gives due consideration to the then-evolving or prevailing market convention for determining a rate of interest for loans in US Dollars at such time (the “Alternate Rate”); Borrower acknowledges that the Alternate Rate
may include a mathematical adjustment using any then-evolving or prevailing market convention or method for determining a spread adjustment for the replacement of the LIBO Rate. For avoidance of doubt, all references to the LIBO Rate shall be deemed
to be references to the Alternate Rate when the Alternate Rate becomes effective in accordance with this section. In addition, the Lender will have the right, from time to time by notice to Borrower to make technical, administrative or operational
changes (including, without limitation, changes to the definition of “CB Floating Rate”, the definition of “Interest Period”, timing and frequency of determining rates and making payments of interest and other administrative
matters) that the Lender decides in its reasonable 

  
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discretion may be appropriate to reflect the adoption and implementation of the Alternate Rate. The Alternate Rate, together with all such technical, administrative and operational changes as
specified in any notice, shall become effective at the later of (i) the fifth Business Day after the Lender has provided notice to the Borrower (the “Notice Date”) and (ii) a date specified by the Lender in the
notice, without any further action or consent of the Borrower, so long as Lender has not received, by 5:00pm Eastern time on the Notice Date, written notice of objection to the Alternate Rate from the Borrower. Any determination, decision, or
election that may be made by the Lender pursuant to this section, including any determination with respect to a rate or adjustment or the occurrence or non-occurrence of an event, circumstance or date, and any
decision to take or refrain from taking any action, will be conclusive and binding absent manifest error and may be made in its sole discretion and without consent from the Borrower. Until an Alternate Rate shall be determined in accordance with
this section, the interest rate shall be equal to the sum of (a) the greater of (x) Prime Rate and (y) 2.50%, plus (b) the Applicable Rate with respect to the appropriate “CBFR Spread” specified within such Applicable Rate
definition. In no event shall the Alternate Rate be less than zero. 
 SECTION 2.13. Increased Costs. (a) If any Change in
Law shall: 
 (i) impose, modify or deem applicable any reserve, special deposit, liquidity or similar requirement (including
any compulsory loan requirement, insurance charge or other assessment) against assets of, deposits with or for the account of, or credit extended by, the Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate); or 

(ii) impose on the Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting this
Agreement or Loans made by the Lender or any Letter of Credit; or 
 (iii) subject the Lender to any Taxes (other than
(A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its
deposits, reserves, other liabilities or capital attributable thereto; 
 and the result of any of the foregoing shall be to increase the cost to the Lender
of making, continuing, converting into or maintaining any Loan (or of maintaining its obligation to make any such Loan) or to increase the cost to the Lender of issuing or maintaining any Letter of Credit or to reduce the amount of any sum received
or receivable by the Lender hereunder (whether of principal, interest or otherwise), then the Borrower will pay to the Lender such additional amount or amounts as will compensate the Lender for such additional costs incurred or reduction suffered.

 (b) If the Lender determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing
the rate of return on the Lender’s capital or on the capital of the Lender’s holding company as a consequence of this Agreement, the Commitment of or the Loans made by Letters of Credit issued by the Lender to a level below that which the
Lender or the Lender’s holding company could have achieved but for such Change in Law (taking into consideration the Lender’s policies and the policies of the Lender’s holding company with respect to capital adequacy and liquidity),
then from time to time the Borrower will pay to the Lender such additional amount or amounts as will compensate the Lender or the Lender’s holding company for any such reduction suffered. 

  
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 (c) A certificate of the Lender setting forth the amount or amounts necessary to compensate
the Lender or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay the Lender the amount
shown as due on any such certificate within ten (10) days after receipt thereof. 
 (d) Failure or delay on the part of the Lender to
demand compensation pursuant to this Section shall not constitute a waiver of the Lender’s right to demand such compensation; provided that the Borrower shall not be required to compensate the Lender pursuant to this
Section for any increased costs or reductions incurred more than 270 days prior to the date that the Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of the Lender’s intention to claim
compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 270-day period referred to above shall be extended to
include the period of retroactive effect thereof. 
 SECTION 2.14. Break Funding Payments. In the event of (a) the payment
of any principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default or as a result of any prepayment pursuant to Section 2.09), (b) the conversion of any
Eurodollar Loan other than on the last day of the Interest Period applicable thereto, or (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto (regardless of
whether such notice may be revoked under Section 2.07(d) and is revoked in accordance therewith), then, in any such event, the Borrower shall compensate the Lender for the loss, cost and expense attributable to such event. In the case of a
Eurodollar Loan, such loss, cost or expense to the Lender shall be deemed to include an amount determined by the Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Eurodollar
Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such Eurodollar Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a
failure to borrow, convert or continue, for the period that would have been the Interest Period for such Eurodollar Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which
the Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the eurodollar market. A certificate of the Lender setting forth any amount or amounts that the Lender
is entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay the Lender the amount shown as due on any such certificate within ten (10) days after
receipt thereof. 
 SECTION 2.15. Withholding of Taxes; Gross-Up. 

(a) Payments Free of Taxes. Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be
made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith discretion of an applicable withholding agent) requires the deduction or withholding of any Tax from
any such payment by a withholding agent, then the applicable withholding agent shall 

  
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be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such
Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable
under this Section 2.15), the Lender receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(b) Payment of Other Taxes by Loan Parties. The Loan Parties shall timely pay to the relevant Governmental Authority in accordance with
applicable law, or at the option of the Lender, timely reimburse it for, Other Taxes. 
 (c) Evidence of Payment. As soon as
practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to this Section 2.15, such Loan Party shall deliver to the Lender the original or a certified copy of a receipt issued by such Governmental Authority
evidencing such payment, a copy of the return reporting such payment, or other evidence of such payment reasonably satisfactory to the Lender. 

(d) Indemnification by the Borrower. The Loan Parties shall jointly and severally indemnify the Lender, within ten (10) days after
demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by the Lender or required to be withheld or deducted from a
payment to the Lender and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount
of such payment or liability delivered to any Loan Party by the Lender shall be conclusive absent manifest error. 
 (e) Treatment of
Certain Refunds. If the Lender determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.15 (including by the payment of additional
amounts pursuant to this Section 2.15), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section 2.15 with respect to the Taxes giving rise to such refund),
net of all out-of-pocket expenses (including Taxes) of the Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect
to such refund). Such indemnifying party, upon the request of the Lender, shall repay to the Lender the amount paid to the Lender (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event the Lender
is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (e), in no event will the Lender be required to pay any amount to any indemnifying party pursuant to this paragraph (e), the
payment of which would place the Lender in a less favorable net after-Tax position than the Lender would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted,
withheld or otherwise imposed and the indemnification payments or additional amounts giving rise to such refund had never been paid. This paragraph (e) shall not be construed to require the Lender to make available its Tax returns (or any other
information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

  
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 (f) Survival. Each party’s obligations under this Section 2.15 shall
survive the resignation or replacement of the Lender or any assignment of rights by, or the replacement of, the Lender, the termination of the Commitment and the repayment, satisfaction or discharge of all obligations under any Loan Document
(including the Payment in Full of the Secured Obligations). 
 (g) Defined Terms. For purposes of this Section 2.15, the term
“applicable law” includes FATCA. 
 SECTION 2.16. Payments Generally; Allocation of Proceeds. 

(a) The Borrower shall make each payment or prepayment required to be made by it hereunder (whether of principal, interest, fees or
reimbursement of LC Disbursements, or of amounts payable under Sections 2.13, 2.14 or 2.15, or otherwise) prior to 5:00 p.m., Eastern time, on the date when due or the date fixed for any prepayment hereunder, in immediately available funds,
without setoff, recoupment or counterclaim. Any amounts received after such time on any date may, in the discretion of the Lender, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All
such payments shall be made to the Lender at its offices at 560 Mission Street, 4th Floor, San Francisco, CA 94105. Unless otherwise provided for herein, if any payment hereunder shall be due on a day that is not a Business Day, the date for payment
shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in dollars. 

(b) All payments and any proceeds of Collateral received by the Lender (i) not constituting either (A) a specific payment of
principal, interest, fees or other sum payable under the Loan Documents (which shall be applied as specified by the Borrower), or (B) a mandatory prepayment (which shall be applied in accordance with Section 2.09) or (ii) after an
Event of Default has occurred and is continuing and the Lender so elects, such funds shall be applied ratably first, to pay any fees, indemnities, or expense reimbursements then due to the Lender from the Borrower, second, to pay
interest then due and payable on the Loans ratably, third, to prepay principal on the Loans and unreimbursed LC Disbursements and to pay any amounts owing in respect of Swap Agreement Obligations and Banking Services Obligations, ratably,
fourth, to pay an amount to the Lender equal to one hundred two percent (102%) of the aggregate LC Exposure, to be held as cash collateral for such Obligations, fifth, to the payment of any other Secured Obligation due to the Lender
from the Borrower or any other Loan Party. Notwithstanding anything to the contrary contained in this Agreement, unless so directed by the Borrower, or unless a Default is in existence, the Lender shall not apply any payment which it receives
to any Eurodollar Loan of a Class, except (i) on the expiration date of the Interest Period applicable thereto, or (ii) in the event, and only to the extent, that there are no outstanding CBFR Loans of the same Class and, in any such
event, the Borrower shall pay the break funding payment required in accordance with Section 2.14. The Lender shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of
the Secured Obligations. 

  
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 (c) At the election of the Lender, all payments of principal, interest, LC Disbursements,
fees, premiums, reimbursable expenses (including, without limitation, all reimbursement for fees, costs and expenses pursuant to Section 8.03), and other sums payable under the Loan Documents, may be paid from the proceeds of Borrowings made
hereunder, whether made following a request by the Borrower pursuant to Section 2.03 or a deemed request as provided in this Section or may be deducted from any deposit account of the Borrower maintained with the Lender. The Borrower
hereby irrevocably authorizes the Lender to (i) make a Borrowing for the purpose of paying each payment of principal, interest and fees as it becomes due hereunder or any other amount due under the Loan Documents and agrees that all such
amounts charged shall constitute Loans, and that all such Borrowings shall be deemed to have been requested pursuant to Section 2.03 and (ii) charge any deposit account of the Borrower maintained with the Lender for each payment of
principal, interest and fees as it becomes due hereunder or any other amount due under the Loan Documents. 
 (d) The Lender may from time to
time provide the Borrower with account statements or invoices with respect to any of the Secured Obligations (the “Statements”). The Lender is under no duty or obligation to provide Statements, which, if provided, will be solely for
the Borrower’s convenience. Statements may contain estimates of the amounts owed during the relevant billing period, whether of principal, interest, fees or other Secured Obligations. If the Borrower pays the full amount indicated on a
Statement on or before the due date indicated on such Statement, the Borrower shall not be in default of payment with respect to the billing period indicated on such Statement; provided, that acceptance by the Lender of any payment that is less than
the total amount actually due at that time (including but not limited to any past due amounts) shall not constitute a waiver of the Lender’s right to receive payment in full at another time. 

SECTION 2.17. Returned Payments. If after receipt of any payment which is applied to the payment of all or any part of the
Obligations (including a payment effected through exercise of a right of setoff), the Lender is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared
fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant to any settlement entered into by the Lender in its discretion), then the
Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Lender. The provisions of this Section 2.17 shall be
and remain effective notwithstanding any contrary action which may have been taken by the Lender in reliance upon such payment or application of proceeds. The provisions of this Section 2.17 shall survive the termination of this Agreement. 

ARTICLE III 
 Representations
and Warranties 
 Each Loan Party represents and warrants to the Lender that (and where applicable, agrees): 

SECTION 3.01. Organization; Powers. Each Loan Party and each Subsidiary is duly organized or formed, validly existing and in good
standing under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so, individually or in the aggregate, would not reasonably be
expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required. 

  
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 SECTION 3.02. Authorization; Enforceability. The Transactions are within each
Loan Party’s corporate or other organizational powers and have been duly authorized by all necessary corporate or other organizational actions and, if required, actions by equity holders. Each Loan Document to which each Loan Party is a party
has been duly executed and delivered by such Loan Party and constitutes a legal, valid and binding obligation of such Loan Party, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or
other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

SECTION 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of,
registration or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are in full force and effect and except for filings necessary to perfect Liens created pursuant to the Loan Documents,
(b) will not violate any Requirement of Law applicable to any Loan Party or any Subsidiary, (c) will not violate or result in a default under any indenture, agreement or other instrument binding upon any Loan Party or any Subsidiary or the
assets of any Loan Party or any Subsidiary, or give rise to a right thereunder to require any payment to be made by any Loan Party or any Subsidiary, and (d) will not result in the creation or imposition of, or other requirement to create, any
Lien on any asset of any Loan Party or any Subsidiary, except Liens created pursuant to the Loan Documents. 
 SECTION 3.04.
Financial Condition; No Material Adverse Change. 
 (a) The Borrower has heretofore furnished to the Lender its consolidated balance
sheet and statements of income, stockholders equity and cash flows (i) as of and for the fiscal year ended December 31, 2019, from independent public accountants, and (ii) as of and for the fiscal month ended June 30, 2020,
certified by a Financial Officer. Such financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such
periods in accordance with GAAP, subject to normal year-end audit adjustments and the absence of footnotes in the case of the statements referred to in clause (ii) above. 

(b) No event, change or condition has occurred that has had, or could reasonably be expected to have, a Material Adverse Effect, since
December 31, 2019. 
 SECTION 3.05. Properties. 

(a) As of the date of this Agreement, Schedule 3.05 to the Disclosure Letter sets forth the address of each parcel of
Material Real Property that is owned or leased by any Loan Party. Each of Loan Party and its Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property, except where the failure to do so, individually or in
the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 
 (b) Each Loan Party and each Subsidiary owns, or
is licensed to use, all trademarks, tradenames, copyrights, patents and other intellectual property necessary to its business as currently conducted, and the use thereof by each Loan Party and its Subsidiaries does not infringe in any material
respect upon the rights of any other Person. 

  
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 SECTION 3.06. Litigation and Environmental Matters. 

(a) There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of
any Loan Party, threatened against or affecting any Loan Party or any Subsidiary (i) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, could reasonably be expected, individually or in
the aggregate, to result in a Material Adverse Effect (other than the Disclosed Matters set forth on Schedule 3.06 of the Disclosure Letter (as may be updated from time to time)) or (ii) that involve any Loan Document
or the Transactions. 
 (b) Except for the Disclosed Matters, (i) no Loan Party or any Subsidiary has received notice of any claim with
respect to any Environmental Liability or knows of any basis for any Environmental Liability and (ii) and except with respect to any other matters that, individually or in the aggregate, would not reasonably be expected to result in a Material
Adverse Effect, no Loan Party or any Subsidiary (A) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law (B) has become subject to
any Environmental Liability, (C) has received notice of any claim with respect to any Environmental Liability or (D) knows of any basis for any Environmental Liability. 

(c) Since the date of this Agreement, there has been no change in the status of the Disclosed Matters that, individually or in the aggregate,
has resulted in, or materially increased the likelihood of, a Material Adverse Effect. 
 SECTION 3.07. Compliance with Laws and
Agreements. Except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, each Loan Party and each Subsidiary is in compliance with (i) each Requirement of Law
applicable to it or its property and (ii) all indentures, agreements and other instruments binding upon it or its property. 

SECTION 3.08. Investment Company Status. No Loan Party or any Subsidiary is an “investment company” as defined in, or
subject to regulation under, the Investment Company Act of 1940. 
 SECTION 3.09. Taxes. Each Loan Party and each Subsidiary has
timely filed or caused to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by appropriate
proceedings and for which such Loan Party or such Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a liability in excess of
$5,000,000. 
 SECTION 3.10. ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together
with all other such ERISA Events for which liability is reasonably expected to occur, could result in a Material Adverse Effect. The present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of
Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of such Plan such

  
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that any requisite funding of such Plan could reasonably be expected to result in a Material Adverse Effect, and the present value of all accumulated benefit obligations of all underfunded Plans
(based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of all such
underfunded Plans such that any requisite funding of all such Plans could reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.11. Disclosure. (a) The Loan Parties have disclosed to the Lender all agreements, instruments and corporate or
other restrictions to which any Loan Party or any Subsidiary is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. None of the reports, financial
statements, certificates or other information (other than Projections, any other projected financial information, forward looking statements and statements of a general economic nature) furnished by or on behalf of any Loan Party or any Subsidiary
to the Lender in connection with the negotiation of this Agreement or any other Loan Document (as modified or supplemented by other information so furnished), taken as a whole, contains any material misstatement of fact or, when taken as a whole,
omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially misleading; provided that, with respect to the Projections and other projected financial
information, the Loan Parties represent only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time delivered and, if such Projections or other projected financial information was delivered
prior to the Effective Date, as of the Effective Date, it being understood and agreed that such Projections and other projected financial information are subject to uncertainties and contingencies, many of which are beyond the control of the Loan
parties, and as such, such Projections and other projected financial information is not a guarantee of financial performance and such differences may be material. 

(b) As of the Effective Date, to the best knowledge of the Borrower, the information included in the Beneficial Ownership Certification
provided on or prior to the Effective Date to the Lender in connection with this Agreement is true and correct in all respects. 

SECTION 3.12. Reserved. 

SECTION 3.13. Solvency. (a) Immediately after the consummation of the Transactions to occur on the Effective Date,
(i) the fair value of the assets of the Loan Parties, taken as a whole, at a fair valuation, will exceed its debts and liabilities, subordinated, contingent or otherwise; (ii) the present fair saleable value of the property of the Loan
Parties, taken as a whole, will be greater than the amount that will be required to pay the probable liability of its debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and
matured; (iii) the Loan Parties, taken as a whole, will be able to pay their debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured; and (iv) no Loan Party will have
unreasonably small capital with which to conduct the business in which it is engaged as such business is now conducted and is proposed to be conducted after the Effective Date. 

  
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 (b) No Loan Party intends to, nor will permit any Subsidiary to, and no Loan Party believes
that it or any Subsidiary will, incur debts beyond its ability to pay such debts as they mature, taking into account the timing of and amounts of cash to be received by it or any such Subsidiary and the timing of the amounts of cash to be payable on
or in respect of its Indebtedness or the Indebtedness of any such Subsidiary. 
 SECTION 3.14. Insurance. The Loan Parties
believe that the insurance maintained by or on behalf of the Loan Parties and their Subsidiaries is adequate and is customary for companies engaged in the same or similar businesses operating in the same or similar locations. 

SECTION 3.15. Capitalization and Subsidiaries. As of the date of this Agreement, Schedule 3.15 of the
Disclosure Letter sets forth (a) a correct and complete list of the name and relationship to the Borrower of each Subsidiary, (b) a true and complete listing of each class of each of the Borrower’s authorized Equity Interests, of
which all of such issued Equity Interests are validly issued, outstanding, fully paid and non-assessable, and owned beneficially and of record by the Persons identified on Schedule 3.15 to the Disclosure
Letter, and (c) the type of entity of the Borrower and each Subsidiary. All of the issued and outstanding Equity Interests owned by any Loan Party have been (to the extent such concepts are relevant with respect to such ownership interests)
duly authorized and issued and are fully paid and non-assessable. 
 SECTION 3.16. Security
Interest in Collateral. The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all the Collateral in favor of the Lender, for the benefit of the Secured Parties, and upon the filing of UCC financing
statements, the recording of mortgages and the taking of actions or making of filings with the United States Patent and Trademark Office of the United States Copyright Office, as applicable, with respect to the Loan Parties’ intellectual
property, such Liens constitute perfected and continuing Liens on the Collateral, to the extent perfection can be obtained by the filing of an initial UCC financing statement, the recording of a mortgage or a filing with the United States patent and
Trademark Office or the United States Copyright Office, as applicable, securing the Secured Obligations, enforceable against the applicable Loan Party (subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting
creditors’ rights generally and subject to general principles of equity, regardless, of whether considered in a proceeding in equity or at law), and having priority over all other Liens on the Collateral except in the case of (a) Permitted
Encumbrances, to the extent any such Permitted Encumbrances would have priority over the Liens in favor of the Lender pursuant to any applicable law or agreement permitted hereunder, and (b) Liens perfected only by possession (including
possession of any certificate of title), to the extent the Lender has not obtained or does not maintain possession of such Collateral. 

SECTION 3.17. Employment Matters. As of the Effective Date, there are no strikes, lockouts or slowdowns against any Loan Party or
any Subsidiary pending or, to the knowledge of any Loan Party, threatened in writing. The hours worked by and payments made to employees of the Loan Parties and their Subsidiaries have not been in violation in any material respect of the Fair Labor
Standards Act or any other applicable federal, state, local or foreign law dealing with such matters. 
 SECTION 3.18. Margin
Regulations. No Loan Party is engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying Margin Stock, or extending credit for the purpose of purchasing or carrying Margin Stock, and
no part of the proceeds of Borrowing or Letter of Credit extension hereunder will be used to purchase or carry any Margin Stock. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than 25% of
the value of the assets (either of any Loan Party only or of the Loan Parties and their Subsidiaries on a consolidated basis) will be Margin Stock. 

  
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 SECTION 3.19. Use of Proceeds. The proceeds of the Loans have been used and will
be used, whether directly or indirectly as set forth in Section 5.08. 
 SECTION 3.20. No Burdensome Restrictions. No Loan
Party is subject to any Burdensome Restrictions except Burdensome Restrictions permitted under Section 6.10. 
 SECTION 3.21.
Anti-Corruption Laws and Sanctions. Each Loan Party has implemented and maintains in effect policies and procedures designed to ensure compliance by such Loan Party, its Subsidiaries and their respective directors, officers, employees and
agents with Anti-Corruption Laws and applicable Sanctions, and such Loan Party, its Subsidiaries and their respective officers and directors and to the knowledge of such Loan Party its employees and agents, are in compliance with Anti-Corruption
Laws and applicable Sanctions in all material respects. None of (a) any Loan Party, any Subsidiary, any of their respective officers or employees, or to the knowledge of any such Loan Party or Subsidiary, any of their respective directors, or
(b) to the knowledge of any such Loan Party or Subsidiary, any agent of such Loan Party or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person. No
Borrowing or Letter of Credit, use of proceeds, Transaction or other transaction contemplated by this Agreement or the other Loan Documents will violate Anti-Corruption Laws or applicable Sanctions. 

SECTION 3.22. Plan Assets; Prohibited Transactions. None of the Loan Parties or any of their Subsidiaries is an entity deemed to
hold “plan assets” (within the meaning of the Plan Asset Regulations), and neither the execution, delivery nor performance of the transactions contemplated under this Agreement, including the making of any Loan and the issuance of any
Letter of Credit hereunder, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code. 

SECTION 3.23. Affiliate Transactions. Except as set forth on Schedule 3.23 of the Disclosure Letter, as
of the date of this Agreement, there are no existing or proposed agreements, arrangements, understandings or transactions between any Loan Party and any of the officers, members, managers, directors, stockholders, parents, holders of other Equity
Interests, employees or Affiliates (other than Subsidiaries) of any Loan Party or any members of their respective immediate families, in each case other than such contracts, agreements, or transactions permitted under Section 6.09. 

  
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 ARTICLE IV 

Conditions 

SECTION 4.01. Effective Date. The obligations of the Lender to make Loans and to issue Letters of Credit hereunder shall not
become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 8.02): 

(a) Credit Agreement and Loan Documents. The Lender (or its counsel) shall have received (i) from each party hereto either
(A) a counterpart of this Agreement signed on behalf of such party or (B) written evidence satisfactory to the Lender (which may include fax or other electronic transmission of a signed signature page of this Agreement) that such party has
signed a counterpart of this Agreement and (ii) duly executed copies of the Loan Documents and such other certificates, documents, instruments and agreements as the Lender shall reasonably request in connection with the transactions
contemplated by this Agreement and the other Loan Documents. 
 (b) Financial Statements and Projections. The Lender shall have
received (i) audited consolidated financial statements of Borrower for the 2018 and 2019 fiscal years, (ii) unaudited interim consolidated financial statements of Borrower for each fiscal month and quarter ended after the date of the
latest applicable financial statements delivered pursuant to clause (i) of this paragraph as to which such financial statements are available, and such financial statements shall not, in the reasonable judgment of the Lender, reflect any
material adverse change in the consolidated financial condition of Borrower, as reflected in the audited, consolidated financial statements described in clause (i) of this paragraph and (iii) satisfactory Projections through
December 31, 2024. 
 (c) Closing Certificates; Certified Certificate of Incorporation; Good Standing Certificates. The Lender
shall have received (i) a certificate of each Loan Party, dated the Effective Date and executed by its Secretary or Assistant Secretary, which shall (A) certify the resolutions of its Board of Directors, members or other body authorizing
the execution, delivery and performance of the Loan Documents to which it is a party, (B) identify by name and title and bear the signatures of the officers of such Loan Party authorized to sign the Loan Documents to which it is a party and, in
the case of the Borrower, its Financial Officers, and (C) contain appropriate attachments, including the charter, articles or certificate of organization or incorporation of each Loan Party certified by the relevant authority of the
jurisdiction of organization of such Loan Party and a true and correct copy of its bylaws or operating, management or partnership agreement, or other organizational or governing documents, and (ii) a long form good standing certificate for each
Loan Party from its jurisdiction of organization. 
 (d) No Default Certificate. The Lender shall have received a certificate, signed
by a Financial Officer of the Borrower, dated as of the Effective Date (i) stating that no Default has occurred and is continuing, (ii) stating that the representations and warranties contained in the Loan Documents are true and correct in
all material respects as of such date (or if any representation and warranty is made as of a specified date stating such representation and warranty was true as of such specified date and if any representation and warranty is subject to any
materiality qualifier, such representation and warranty is true and correct in all material respects), and (iii) certifying as to any other factual matters as may be reasonably requested by the Lender. 

(e) Fees. The Lender shall have received all fees required to be paid, and all expenses required to be reimbursed for which invoices
have been presented (including the reasonable fees and expenses of legal counsel), on or before the Effective Date. All such amounts will be paid with proceeds of Loans made on the Effective Date and will be reflected in the funding instructions
given by the Borrower to the Lender on or before the Effective Date. 

  
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 (f) Lien Searches. The Lender shall have received the results of a recent lien search
in the jurisdiction of organization of each Loan Party and each jurisdiction where assets of the Loan Parties are located, and such search shall reveal no Liens on any of the assets of the Loan Parties except for Liens permitted by Section 6.02
or discharged on or prior to the Effective Date pursuant to a pay-off letter or other documentation reasonably satisfactory to the Lender. 

(g) Pay-off Letter. The Lender shall have received satisfactory
pay-off letters for all existing Indebtedness required to be repaid and which confirms that all Liens upon any of the property of the Loan Parties constituting Collateral will be terminated concurrently with
such payment and all letters of credit issued or guaranteed as part of such Indebtedness shall have been cash collateralized or supported by a Letter of Credit. 

(h) Funding Account. The Lender shall have received a notice setting forth the deposit account of the Borrower (the “Funding
Account”) to which the Lender is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement. 

(i) Control Agreements. The Lender shall have received a deposit account control agreement required to be provided pursuant to the
Security Agreement and Section 5.13 of this Agreement. 
 (j) Solvency. The Lender shall have received a solvency certificate
signed by a Financial Officer dated the Effective Date in form and substance reasonably satisfactory to the Lender. 
 (k) Closing
Availability. After giving effect to all Borrowings to be made on the Effective Date and the issuance of any Letters of Credit on the Effective Date and payment of all fees and expenses due hereunder, and with all of the Loan Parties’
Indebtedness, the Borrower’s Availability shall not be less than the Revolving Commitment. 
 (l) Pledged Equity Interests; Stock
Powers; Pledged Notes. The Lender shall have received (i) the certificates representing the Equity Interests pledged pursuant to the Security Agreement, together with an undated stock power for each such certificate executed in blank by a
duly authorized officer of the pledgor thereof and (ii) each promissory note (if any) pledged to the Lender pursuant to the Security Agreement endorsed (without recourse) in blank (or accompanied by an executed transfer form in blank) by the
pledgor thereof. 
 (m) Filings, Registrations and Recordings. Each document (including any Uniform Commercial Code financing
statement) required by the Collateral Documents or under law or reasonably requested by the Lender to be filed, registered or recorded in order to create in favor of the Lender, for the benefit of the Secured Parties, a perfected Lien on the
Collateral described therein, prior and superior in right to any other Person (other than with respect to Liens expressly permitted by Section 6.02), shall be in proper form for filing, registration or recordation. 

(n) Insurance. The Lender shall have received evidence of insurance coverage in form, scope, and substance reasonably satisfactory to
the Lender and otherwise in compliance with the terms of this Agreement and the Security Agreement. 

  
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 (o) Letter of Credit Application. The Lender shall have received a properly completed
letter of credit application (whether standalone or pursuant to a master agreement, as applicable) if the issuance of a Letter of Credit will be required on the Effective Date. The Borrower shall have executed the Lender’s master agreement for
the issuance of commercial Letters of Credit. 
 (p) Legal Due Diligence. The Lender and its counsel shall have completed all legal
due diligence, the results of which shall be satisfactory to Lender in its sole discretion. 
 (q) USA PATRIOT Act, Etc. (i) The
Lender shall have received, (x) at least five (5) days prior to the Effective Date, all documentation and other information regarding the Borrower requested in connection with applicable “know your customer” and anti-money
laundering rules and regulations, including the USA PATRIOT Act, to the extent requested in writing of the Borrower at least ten (10) days prior to the Effective Date, and (y) a properly completed and signed IRS Form W-8 or W-9, as applicable, for each Loan Party, and (ii) the Lender shall have received, to the extent the Borrower qualifies as a “legal entity customer” under
the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to the Borrower at least five (5) days prior to the Effective Date. 

(r) Other Documents. The Lender shall have received such other documents as the Lender or its counsel may have reasonably requested.

 The Lender shall notify the Borrower of the Effective Date, and such notice shall be conclusive and binding. Notwithstanding the foregoing, the
obligations of the Lender to make Loans and to issue Letters of Credit hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to Section 8.02) (and, in the event such conditions are not so
satisfied or waived, the Commitment shall terminate at such time). 
 SECTION 4.02. Each Credit Event. The obligation of the
Lender to make a Loan on the occasion of any Borrowing, and to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the following conditions: 

(a) The representations and warranties of the Loan Parties set forth in the Loan Documents shall be true and correct in all material respects
with the same effect as though made on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable (it being understood and agreed that any representation or warranty which by
its terms is made as of a specified date shall be required to be true and correct only as of such specified date, and that any representation or warranty which is subject to any materiality qualifier shall be required to be true and correct in all
material respects). 
 (b) At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or
extension of such Letter of Credit, as applicable, no Default shall have occurred and be continuing. 
 (c) After giving effect to any
Borrowing or the issuance, amendment, renewal or extension of any Letter of Credit, Availability shall not be less than zero. 
 (d) No event
shall have occurred and no condition shall exist which has or could be reasonably expected to have a Material Adverse Effect. 

  
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 (e) Borrower shall have delivered a Borrowing Request to the Lender in accordance with
Section 2.03. 
 Each Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to constitute
a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs (a), (b), (c), and (d) of this Section. 

ARTICLE V 
 Affirmative
Covenants 
 Until all of the Secured Obligations shall have been Paid in Full, each Loan Party executing this Agreement covenants and
agrees, jointly and severally with all of the other Loan Parties, with the Lender that: 
 SECTION 5.01. Financial Statements and
Other Information. The Borrower will furnish to the Lender: 
 (a) within 180 days after the end of each fiscal year of the Borrower, its
audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all
reported on by independent public accountants reasonably acceptable to the Lender (without a “going concern” or like qualification, commentary or exception, and without any qualification or exception as to the scope of such audit, other
than solely with respect to, or resulting solely from, (i) any actual or projected inability to satisfy any financial covenant for any period under this Agreement or (ii) the impending maturity within twelve (12) months of any
Indebtedness under this Agreement) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a
consolidated basis in accordance with GAAP consistently applied; 
 (b) within 45 days after the end of each fiscal quarter of the Borrower,
its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative
form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by a Financial Officer as presenting fairly in all material respects the financial condition
and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of
footnotes; 
 (c) concurrently with any delivery of financial statements under clause (a) or (b) above, a Compliance Certificate
executed by a Financial Officer (i) certifying, in the case of the financial statements delivered under clause (b) or (c) above, as presenting fairly in all material respects the financial condition and results of operations of the
Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes, (ii) certifying
as to whether a Default has occurred 

  
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and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (iii) setting forth reasonably detailed calculations
demonstrating compliance with Section 6.12 and (iv) stating whether any change in GAAP or in the application thereof has occurred since the date of the audited financial statements referred to in Section 3.04 and, if any such change
has occurred, specifying the effect of such change on the financial statements accompanying such certificate; 
 (d) [reserved]; 

(e) as soon as available, but in any event no later than 60 days following the end of each fiscal year of the Borrower, a copy of the plan and
forecast (including a projected consolidated balance sheet, income statement and cash flow statement) of the Borrower for each month of the then-current fiscal year (the “Projections”), in form reasonably satisfactory to the
Lender (and the Lender agrees that it is satisfied with the form of Projections provided by the Borrower prior to the date hereof); 
 (f) as
soon as possible and in any event within 30 days of filing thereof, copies of all tax returns filed by any Loan Party with the U.S. Internal Revenue Service; 

(g) promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed by
any Loan Party or any Subsidiary with the SEC, or any Governmental Authority succeeding to any or all of the functions of the SEC, or with any national securities exchange, or distributed by the Borrower to its shareholders generally, as the case
may be; 
 (h) promptly after receipt thereof by the Borrower or any Subsidiary, copies of each notice or other correspondence received from
the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other inquiry by the SEC or such other agency regarding financial or other
operational results of the Borrower or any Subsidiary thereof; 
 (i) promptly following any request therefor, (x) such other
information regarding the operations, changes in ownership of Equity Interests, business affairs and financial condition of any Loan Party or any Subsidiary, or compliance with the terms of this Agreement, as the Lender may reasonably request and
(y) information and documentation reasonably requested by the Lender for purposes of compliance with applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act and the Beneficial
Ownership Regulation; and 
 (j) promptly after any request therefor by the Lender, copies of (i) any documents described in
Section 101(k)(1) of ERISA that the Borrower or any ERISA Affiliate may request with respect to any Multiemployer Plan and (ii) any notices described in Section 101(l)(1) of ERISA that the Borrower or any ERISA Affiliate may request
with respect to any Multiemployer Plan; provided that if the Borrower or any ERISA Affiliate has not requested such documents or notices from the administrator or sponsor of the applicable Multiemployer Plan, the Borrower or the applicable ERISA
Affiliate shall promptly make a request for such documents and notices from such administrator or sponsor and shall provide copies of such documents and notices promptly after receipt thereof. 

  
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 Documents required to be delivered pursuant to Section 5.01(a), (b) or (g) (to the extent any such
documents are included in materials otherwise filed with the SEC) may be delivered electronically and, if so delivered, shall be deemed to have been delivered on the date (i) on which such materials are publicly available as posted on the
Electronic Data Gathering, Analysis and Retrieval system (EDGAR); or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which the Lender has access (whether a commercial,
third-party website or whether made available by the Lender); provided that: (A) upon written request by the Lender to the Borrower, the Borrower shall deliver paper copies of such documents to the Lender until a written request to cease
delivering paper copies is given by the Lender and (B) the Borrower shall notify the Lender (by facsimile or through Electronic System) of the posting of any such documents and provide to the Lender through Electronic System electronic versions
(i.e., soft copies) of such documents. The Lender shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above. 

SECTION 5.02. Notices of Material Events. Borrower will furnish to the Lender prompt (but in any event within any time period that
may be specified below) written notice of the following: 
 (a) as soon as practicable, and in any event within three (3) Business Days
after a Responsible Officer of a Loan Party has knowledge of the existence thereof, the occurrence of any Default; 
 (b) receipt of any
notice of any investigation by a Governmental Authority or any litigation or proceeding commenced or threatened in writing against any Loan Party or any Subsidiary that (i) if adversely determined could reasonably be expected to result in
damages in excess of $5,000,000 (and not covered by insurance), (ii) seeks injunctive relief, (iii) is asserted or instituted against any Plan, its fiduciaries or its assets, (iv) alleges criminal misconduct by any Loan Party or any
Subsidiary, (v) alleges the violation of, or seeks to impose remedies under any Environmental Law or related Requirement of Law, or seeks to impose Environmental Liability, in each case if adversely determined could reasonably be expected to
result in damages in excess of $5,000,000 (and not covered by insurance), (vi) asserts tax liens on the part of any Loan Party or any Subsidiary in respect of any unpaid tax, fee, assessment, or other governmental charge in each case if adversely
determined could reasonably be expected to result in damages in excess of $5,000,000 (and not covered by insurance), and except to the extent contested in good faith, or (vii) involves any product recall in excess of $5,000,000; 

(c) any material change in accounting or financial reporting practices by the Borrower or any Subsidiary; 

(d) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected to
result in a Material Adverse Effect; 

  
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 (e) within two (2) Business Days after the occurrence thereof, any Loan Party entering
into a Swap Agreement or an amendment to a Swap Agreement, together with copies of all agreements evidencing such Swap Agreement or amendment; 

(f) any change in the credit ratings from a credit rating agency, or the placement by a credit rating agency of any Loan Party on a
“Credit Watch” or “WatchList” or any similar list, in each case with negative implications, or the cessation by a credit rating agency of, or its intent to cease, rating such Loan Party’s debt; 

(g) any other development that results in, or could reasonably be expected to result in, a Material Adverse Effect; and 

(h) any change in the information provided in the Beneficial Ownership Certification delivered to such Lender that would result in a change to
the list of beneficial owners identified in such certification. 
 Each notice delivered under this Section shall be accompanied by a statement of a
Financial Officer or other executive officer of the Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

SECTION 5.03. Existence. Each Loan Party will, and will cause each Subsidiary to do or cause to be done all things necessary to
preserve, renew and keep in full force and effect its legal existence and the rights, qualifications, licenses, permits, franchises, governmental authorizations, intellectual property rights, licenses and permits material to the conduct of its
business, and maintain all requisite authority to conduct its business in each jurisdiction in which its business is conducted except where the failure to maintain such authority would not reasonably be expected to have a Material Adverse Effect;
provided that the foregoing shall not prohibit any merger, consolidation, liquidation, or dissolution permitted under Section 6.03. 

SECTION 5.04. Payment of Obligations. Each Loan Party will, and will cause each Subsidiary to, pay or discharge all Material
Indebtedness and all other material liabilities and obligations, in excess of $5,000,000, including Taxes, before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith
by appropriate proceedings, (b) such Loan Party or Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP and (c) the failure to make payment would not reasonably be expected to result in a
Material Adverse Effect. 
 SECTION 5.05. Maintenance of Properties. Each Loan Party will, and will cause each Subsidiary to,
keep and maintain all property owned or leased by any Loan Party material to the conduct of its business in good working order and condition, ordinary wear and tear excepted. 

SECTION 5.06. Books and Records; Inspection Rights. Each Loan Party will, and will cause each Subsidiary to, (a) keep proper
books of record and account in which full, true and correct entries are made of all material dealings and transactions in relation to its business and (b) permit any representatives designated by the Lender (including employees of the Lender or
any consultants, accountants, lawyers, agents and appraisers retained by the Lender), upon reasonable prior notice and during the usual business hours of a Loan Party, to visit and inspect its properties,

  
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conduct at the Loan Party’s premises field examinations of such Loan Party’s assets, liabilities, books and records, including examining and making extracts from its books and records
(other than (i) materials protected by the attorney-client privilege, (ii) materials which the Borrower or such Subsidiary, as applicable, may not disclose without violation of a confidentiality obligation binding upon it or the disclosure
of which is prohibited by law or (iii) information that constitutes non-financial trade secrets or non-financial proprietary information that is not reasonably
related to the actual or projected financial results or results of operations of the Loan Parties), and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times; provided that
if no Event of Default has occurred and is continuing, the Lender shall not conduct more than one field examination in any 12 month period. The Loan Parties acknowledge that the Lender, after exercising its rights of inspection may prepare certain
Reports pertaining to the Loan Parties’ assets for internal use by the Lender. Such Reports shall be deemed “Information” and shall be subject to the confidentiality obligations provided in Section 8.12. 

SECTION 5.07. Compliance with Laws. Each Loan Party will, and will cause each Subsidiary to, (i) comply with each Requirement
of Law applicable to it or its property (including, without limitation, Environmental Laws) except where the failure to be in compliance would not have a Material Adverse Effect. Each Loan Party will maintain in effect and enforce policies and
procedures, to the extent applicable, designed to ensure compliance by such Loan Party, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. 

SECTION 5.08. Use of Proceeds. 

(a) The proceeds of the Loans and the Letters of Credit will be used only for working capital and general corporate purposes. No part of the
proceeds of any Loan and no Letter of Credit will be used, whether directly or indirectly, (i) for any purpose that entails a violation of any of the regulations of the Federal Reserve Board, including Regulations T, U and X or (ii) to
make any Acquisition. Letters of Credit will be issued only to support working capital and general corporate purposes. 
 (b) The Borrower
will not request any Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing or Letter
of Credit (a) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (b) for the purpose of funding,
financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, except to the extent permitted for a Person required to comply with Sanctions, or (c) in any manner that would
result in the violation of any Sanctions applicable to any party hereto. 
 SECTION 5.09. Accuracy of Information. The Loan
Parties will ensure that any information, including financial statements or other documents (other than Projections, other projected financial information, forward looking statements and statements of a general economic nature), furnished to the
Lender in connection with this Agreement or any other Loan Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder (as modified or supplemented by other information so furnished), when taken as a whole, contains
no 

  
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material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially
misleading, and the furnishing of such information shall be deemed to be a representation and warranty by the Borrower on the date thereof as to the matters specified in this Section 5.09; provided that, with respect to the Projections or any
other projected financial information, the Loan Parties will cause the Projections to be prepared in good faith based upon assumptions believed to be reasonable at the time, it being understood and agreed that such Projections and other projected
financial information are subject to uncertainties and contingencies, many of which are beyond the control of the Loan Parties, and as such, such Projections and other projected financial information is not a guarantee of financial performance and
actual results may differ from such Projections and other projected financial information and such difference may be material. 

SECTION 5.10. Insurance. Each Loan Party will, and will cause each Subsidiary to, maintain with financially sound and reputable
carriers (a) insurance in such amounts and such hazards, as is customarily maintained by companies of established repute engaged in the same or similar businesses operating in the same or similar locations and (b) all insurance required
pursuant to the Collateral Documents. The Borrower will furnish to the Lender, upon the reasonable request of the Lender, additional information in reasonable detail as to the insurance so maintained. 

SECTION 5.11. Reserved. 

SECTION 5.12. Reserved. 

SECTION 5.13. Collateral Access Agreement(s); Depository Banks. The Borrower shall use its best efforts to obtain a Collateral
Access Agreement in respect of the Borrower’s chief executive office located at 2834 Colorado Ave, Suite 100 Santa Monica, California, and in respect of each U.S. warehouse holding more than $5,000,000 in inventory of the Borrower. Within
ninety (90) days after the Effective Date (or such later date as the Lender may agree), each Loan Party and each Subsidiary will maintain the Lender as its principal depository bank, including for the maintenance of operating, administrative,
cash management, collection activity, and other deposit accounts for the conduct of its business. During such ninety (90) day period, the Loan Parties will cause each deposit account, securities account or commodities account maintained with a
financial institution other than Lender (other than Excluded Accounts) to be subject to a control agreement in favor of the Lender. 

SECTION 5.14. Additional Collateral; Further Assurances. 

(a) Subject to any applicable Requirement of Law, each Loan Party will cause each of its Subsidiaries that is not a CFC formed or acquired
after the date of this Agreement to become a Loan Party by executing a Joinder Agreement within 60 days of formation. In connection therewith, the Lender shall have received all documentation and other information regarding such newly formed or
acquired Subsidiaries as may be required to comply with the applicable “know your customer” rules and regulations, including the USA Patriot Act. Upon execution and delivery thereof, each such Person (x) shall automatically become a
Loan Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents and (y) will grant Liens to the Lender, for the benefit of the Secured Parties, in any property of
such Loan Party which constitutes Collateral, including any parcel of real property located in the U.S. owned by any Loan Party. 

  
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 (b) Each Loan Party will cause (i) 100% of the issued and outstanding Equity Interests of
each of its Domestic Subsidiaries (other than any Domestic Foreign Holding Company), and (ii) 65% (or such greater percentage that, due to a change in applicable law after the date hereof, (1) could not reasonably be expected to cause the
undistributed earnings of such Foreign Subsidiary as determined for U.S. federal income tax purposes to be treated as a deemed dividend to such Foreign Subsidiary’s U.S. parent and (2) could not reasonably be expected to cause any material
adverse tax consequences) of the issued and outstanding Equity Interests entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)) and 100% of the issued and outstanding Equity
Interests not entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)) in each Foreign Subsidiary and Domestic Foreign Holding Company directly owned by the Borrower or any Loan
Party to be subject at all times to a first priority, perfected Lien in favor of the Lender for the benefit of the Secured Parties, subject to Permitted Liens, pursuant to the terms and conditions of the Loan Documents or other security documents as
the Lender shall reasonably request. 
 (c) Without limiting the foregoing, each Loan Party will execute and deliver, or cause to be executed
and delivered, to the Lender such documents, agreements and instruments, and will take or cause to be taken such further actions (including the filing and recording of financing statements, fixture filings, mortgages, deeds of trust and other
documents and such other actions or deliveries of the type required by Section 4.01, as applicable), which may be required by any Requirement of Law or which the Lender may, from time to time, reasonably request to carry out the terms and
conditions of this Agreement and the other Loan Documents and to ensure perfection and priority of the Liens created or intended to be created by the Collateral Documents, all in form and substance reasonably satisfactory to the Lender and all at
the expense of the Loan Parties. 
 (d) If any Material Real Property is acquired by any Loan Party after the Effective Date, the Borrower
will notify the Lender and, if requested by the Lender, cause such assets to be subjected to a Lien securing the Secured Obligations. In connection with any such acquisition of a fee interest in Material Real Property, the Loan Parties shall deliver
to the Lender a Mortgage, title insurance policy (in such amount and containing such endorsements and affirmative coverages as the Lender shall reasonably require), survey, local counsel opinion, updated property insurance certificates naming the
Lender as lender mortgagee and such other documents, instruments, agreements, convents, estoppels and other materials as the Lender shall reasonably require, each in form and substance reasonably satisfactory to the Lender. In addition to the
foregoing, the Loan Parties shall deliver to the Lender prior to the execution and delivery of such Mortgage evidence as to (A) whether any such real property is a Flood Hazard Property and (B) if any such real property is a Flood Hazard
Property, (1) whether the community in which such real property is located is participating in the National Flood Insurance Program, (2) the applicable Loan Party’s written acknowledgment of receipt of written notification from the
Lender (a) as to the fact that such real property is a Flood Hazard Property and (b) as to whether the community in which each such Flood Hazard Property is located is participating in the National Flood Insurance Program and
(3) copies of insurance policies or certificates of insurance of the Loan Parties and their Subsidiaries evidencing flood insurance reasonably satisfactory to the Lender and naming the Lender as additional loss payee, in each case, in
accordance with applicable Requirements of Law. 

  
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 ARTICLE VI 

Negative Covenants 
 Until
all of the Secured Obligations shall have been Paid in Full, each Loan Party executing this Agreement covenants and agrees, jointly and severally with all of the other Loan Parties, with the Lender that: 

SECTION 6.01. Indebtedness. No Loan Party will, nor will it permit any Subsidiary to, create, incur, assume or suffer to exist any
Indebtedness, except: 
 (a) the Secured Obligations; 

(b) Indebtedness existing on the date hereof and set forth in Schedule 6.01 of the Disclosure Letter and any
extensions, renewals, refinancings and replacements of any such Indebtedness in accordance with clause (f) hereof; 
 (c) Indebtedness
of (i) any Loan Party or any Subsidiary to (ii) other Loan Party or any other Subsidiary, provided that Indebtedness of any Subsidiary that is not a Loan Party to the Borrower or any other Loan Party shall be subject to
Section 6.04; 
 (d) Guarantees by any Loan Party or any Subsidiary of the Indebtedness of any other Loan Party or
any Subsidiary, provided that (i) the Indebtedness so Guaranteed is permitted by this Section 6.01, (ii) Guarantees by any Loan Party of Indebtedness of any non-Loan Party
shall, in each case, be subject to Section 6.04; 
 (e) Indebtedness of the Borrower or any Subsidiary incurred to
finance the acquisition, construction, repair, replacement, or improvement of any fixed or capital assets, including Equipment (whether or not constituting purchase money Indebtedness), including Capital Lease Obligations and any Indebtedness
assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof, and extensions, renewals and replacements of any such Indebtedness in accordance with clause (f) below;
provided that (i) such Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement and (ii) the aggregate principal amount of Indebtedness permitted by this clause
(e) together with any Refinance Indebtedness in respect thereof permitted by clause (f) below, shall not exceed $5,000,000 at any time outstanding; 

(f) Indebtedness which represents extensions, renewals, refinancing or replacements (such Indebtedness being so extended, renewed, refinanced
or replaced being referred to herein as the “Refinance Indebtedness”) of any of the Indebtedness described in clauses (b) and (e) hereof (such Indebtedness being referred to herein as the “Original
Indebtedness”); provided that (i) such Refinance Indebtedness does not materially increase the principal amount or interest rate of the Original Indebtedness to be materially more burdensome upon the Loan Parties, (ii) any
Liens securing such Refinance Indebtedness are not extended to any additional property of any Loan Party or any Subsidiary, (iii) no Loan Party or any Subsidiary that is not originally obligated with respect to repayment of such Original
Indebtedness is required to become obligated with respect to such Refinance Indebtedness, (iv) such Refinance Indebtedness does not result in a shortening of the average weighted maturity of such Original Indebtedness and (v) if such
Original Indebtedness was subordinated in right of payment to the Secured Obligations, then the terms and conditions of such Refinance Indebtedness must include subordination terms and conditions that are at least as favorable to the Lender as those
that were applicable to such Original Indebtedness; 

  
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 (g) Indebtedness owed to any Person providing workers’ compensation, health, disability
or other employee benefits or property, casualty or liability insurance, pursuant to reimbursement or indemnification obligations to such Person, in each case incurred in the ordinary course of business; 

(h) Indebtedness of any Loan Party in respect of performance bonds, bid bonds, appeal bonds, surety bonds and similar obligations, in each case
provided in the ordinary course of business; 
 (i) Subordinated Indebtedness; 

(j) unsecured indebtedness in connection with corporate credit cards issued to the Borrower and its Subsidiaries; 

(k) Indebtedness in respect of netting services, overdraft protections, payment processing, automatic clearinghouse arrangements, arrangements
in respect of pooled deposit or sweep accounts, check endorsement guarantees and otherwise in connection with deposit accounts or cash management services; 

(l) Indebtedness consisting of insurance premium financing; 

(m) Indebtedness representing deferred compensation, severance and health and welfare retirement benefits to current and former employees of
any Loan Party or its Subsidiaries incurred in the ordinary course of business; 
 (n) Indebtedness under Swap Agreements; 

(o) Indebtedness of Foreign Subsidiaries, and guarantees thereof by Foreign Subsidiaries, in respect of local lines of credit, letters of
credit, bank guarantees and similar extensions of credit, in an aggregate principal amount not to exceed $10,000,000, at any time outstanding; 

(p) Indebtedness permitted under Section 6.04; 

(q) any Indebtedness incurred in the ordinary course of business under any agreement to provide cash management services, including treasury,
depository, overdraft, credit or debit card, stored value card, purchase card, pooling, netting, electronic funds transfer and other cash management arrangements; and 

(r) other Indebtedness in an aggregate principal amount not exceeding $5,000,000 at any time outstanding. 

  
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 SECTION 6.02. Liens. No Loan Party will, nor will it permit any Subsidiary to,
create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including Accounts) or rights in respect of any thereof, except: 

(a) Liens created pursuant to any Loan Document; 

(b) Permitted Encumbrances; 
 (c)
any Lien on any property or asset of the Borrower or any Subsidiary existing on the date hereof and set forth in Schedule 6.02 of the Disclosure Letter; provided that (i) such Lien shall not apply to any other
property or asset of the Borrower or any Subsidiary and (ii) such Lien shall secure only those obligations which it secures on the date hereof and extensions, renewals and replacements thereof that do not increase the outstanding principal
amount thereof; 
 (d) Liens on fixed or capital assets acquired, constructed or improved by the Borrower or any Subsidiary; provided
that (i) such Liens secure Indebtedness permitted by clause (e) of Section 6.01, and (ii) such Liens shall not apply to any other property or assets of the Borrower or any Subsidiary; 

(e) any Lien existing on any property or asset (other than Accounts and Inventory) prior to the acquisition thereof by the Borrower or any
Subsidiary or existing on any property or asset (other than Accounts and Inventory) of any Person that becomes a Loan Party after the date hereof prior to the time such Person becomes a Loan Party; provided that (i) such Lien is not
created in contemplation of or in connection with such acquisition or such Person becoming a Loan Party, as the case may be, (ii) such Lien shall not apply to any other property or assets of the Loan Party and (iii) such Lien shall secure
only those obligations which it secures on the date of such acquisition or the date such Person becomes a Loan Party, as the case may be, and extensions, renewals and replacements thereof that do not increase the outstanding principal amount
thereof; 
 (f) Liens of a collecting bank arising in the ordinary course of business under
Section 4-210 of the UCC in effect in the relevant jurisdiction covering only the items being collected upon; 

(g) Liens arising out of Sale and Leaseback Transactions permitted by Section 6.06; 

(h) Liens granted by a Subsidiary that is not a Loan Party in favor of the Borrower or another Loan Party in respect of Indebtedness owed by
such Subsidiary; 
 (i) Liens permitted under Section 6.01(h) and (n), securing Indebtedness in an aggregate principal amount not to
exceed $2,500,000; 
 (j) Liens securing Indebtedness permitted under Section 6.01(o); 

(k) in the case of (A) any Subsidiary that is not a wholly owned Subsidiary or (B) the Equity Interests in any Person that is not a
Subsidiary, any encumbrance or restriction, including any put and call arrangements, related to Equity Interests in such Subsidiary or such other Person set forth in the organization documents of such Subsidiary or such other Person or any related
joint venture, shareholders’ or similar agreement; 

  
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 (l) Liens in the nature of the right of setoff in favor of counterparties to contractual
agreements with the Borrower or any Subsidiary in the ordinary course of business; 
 (m) Liens arising out of conditional sale, title
retention, consignment or similar arrangements for the sale of goods entered into by the Borrower or any Subsidiary in the ordinary course of business; 

(n) Liens on specific items of Inventory or other goods and proceeds thereof of any Person securing such Person’s obligations in respect
of bankers’ acceptances or letters of credit issued or created for the account of such person to facilitate the purchase, shipment or storage of such Inventory or such other goods in the ordinary course of business; 

(o) Liens on insurance policies and the proceeds thereof securing Indebtedness permitted by Section 6.01(m); 

(p) Liens securing Subordinated Indebtedness; and 

(q) Liens securing obligations outstanding in an aggregate principal amount not to exceed $5,000,000. 

Notwithstanding the foregoing, none of the Liens permitted pursuant to this Section 6.02 may at any time attach to any Loan Party’s
(i) Accounts, other than those permitted under clause (a) of the definition of Permitted Encumbrances and clause (a) above and (ii) Inventory, other than those permitted under clauses (a) and (b) of the definition of
Permitted Encumbrances and clause (a) above. 
 SECTION 6.03. Fundamental Changes. 

(a) No Loan Party will, nor will it permit any Subsidiary to, merge into or consolidate with any other Person, or permit any other Person to
merge into or consolidate with it, or otherwise Dispose of all or substantially all/any substantial part of its assets, or all or substantially all of the stock of any of its Subsidiaries (in each case, whether now owned or hereafter acquired), or
liquidate, divide or dissolve, except that, if at the time thereof and immediately after giving effect thereto no Event of Default shall have occurred and be continuing, (i) any Subsidiary of the Borrower may merge into the Borrower in a
transaction in which the Borrower is the surviving entity, (ii) any Loan Party (other than the Borrower) may merge into any other Loan Party in a transaction in which the surviving entity is a Loan Party, (iii) any Subsidiary that is not a
Loan Party may liquidate, divide or dissolve if the Borrower determines in good faith that such liquidation, division or dissolution is in the best interests of the Borrower and is not materially disadvantageous to the Lender; provided that
any such merger involving a Person that is not a wholly owned Subsidiary immediately prior to such merger shall not be permitted unless also permitted by Section 6.04, (iv) a Loan Party may sell, transfer, lease or otherwise dispose of its
assets to a Loan Party, any Subsidiary may sell, transfer, lease or otherwise dispose of its assets to a Loan Party and any Subsidiary that is not a Loan Party may sell, transfer, lease or otherwise dispose of its assets to any other Subsidiary that
is not a Loan Party, and (v) in connection with any acquisition permitted under Section 6.04; 

  
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 (b) No Loan Party will, nor will it permit any Subsidiary to, engage to any material extent
in any business other than businesses of the type conducted by the Borrower and its Subsidiaries on the date hereof and businesses reasonably related, ancillary, or complementary thereto and logical extensions thereof. 

(c) No Loan Party will, nor will it permit any Subsidiary to change its fiscal year or any fiscal quarter from the basis in effect on the
Effective Date. 
 (d) Subject to any applicable Requirement of Law or relevant accounting standards, no Loan Party will change the
accounting basis upon which its financial statements are prepared. 
 (e) Subject to any applicable Requirement of Law, no Loan Party will
change the tax filing elections it has made under the Code. 
 SECTION 6.04. Investments, Loans, Advances, Guarantees and
Acquisitions. No Loan Party will, nor will it permit any Subsidiary to, form any subsidiary after the Effective Date, or purchase, hold or acquire (including pursuant to any merger with any Person that was not a Loan Party and a wholly owned
Subsidiary prior to such merger) any Equity Interests, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any
obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit
(whether through purchase of assets, merger or otherwise), except: 
 (a) Permitted Investments; 

(b) investments in existence on the date hereof and described in Schedule 6.04 of the Disclosure Letter and any
modification, replacement, renewal or extension thereof to the extent not involving any additional investment; 
 (c) investments by the Loan
Parties and their Subsidiaries in Equity Interests in their respective Subsidiaries, provided that, in each case, any such Equity Interests held by a Loan Party shall be pledged pursuant to the Security Agreement (subject to the limitations
applicable to Equity Interests of a Subsidiary referred to in Section 5.14) and (ii) the aggregate amount of investments by Loan Parties in non-Loan Parties (together with outstanding intercompany
loans permitted by Section 6.04(d)) shall not exceed $10,000,000 at any time outstanding (in each case determined without regard to any write-downs or write-offs); 

(d) loans or advances made by (i) any Loan Party or any Subsidiary to (ii) any other Loan Party or any other Subsidiary, provided
that the amount of such loans and advances made by Loan Parties to non-Loan Parties (together with outstanding investments permitted by Section 6.04(c)) shall not exceed $10,000,000 at any time
outstanding (in each case determined without regard to any write-downs or write-offs); 
 (e) Guarantees constituting Indebtedness permitted
by Section 6.01; 

  
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 (f) (i) investments not to exceed $5,000,000 in the aggregate in any fiscal year consisting
of travel advances, entertainment expenses, employee relocation loans, and other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of Equity Interests of
the Borrower or its Subsidiaries pursuant to employee equity purchase agreements approved by the Borrower’s or such Subsidiary’s board of directors; 

(g) notes payable, or stock or other securities issued by Account Debtors to a Loan Party pursuant to negotiated agreements with respect to
settlement of such Account Debtor’s Accounts in the ordinary course of business, consistent with past practices; 
 (h) investments in
the form of Swap Agreements permitted by Section 6.07; 
 (i) investments received in connection with the disposition of assets
permitted by Section 6.05; 
 (j) investments constituting deposits described in clauses (c) and (d) of the definition of the term
“Permitted Encumbrances”; 
 (k) extensions of trade credit to customers in the ordinary course of business; 

(l) investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in
settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 
 (m)
investments consisting of notes receivable of, or prepaid royalties and other credit extensions to, customers and suppliers in the ordinary course of business; provided that this clause (n) shall not apply to investments of the Borrower in any
Subsidiary; 
 (n) investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in
the ordinary course of the Borrower’s business; 
 (o) any transfer of intellectual property between the Borrower and any Loan Party,
undertaken in good faith as part of any board-approved program intended to improve the tax efficiency of Borrowers and any of its Subsidiaries; 

(p) Guarantees of obligations (other than Indebtedness for borrowed money) of Subsidiaries that are not Loan Parties for the acquisition of
services, supplies and inventory in the ordinary course of business; and 
 (q) other investments from time to time not to exceed $5,000,000
at any one time. 
 SECTION 6.05. Asset Sales. No Loan Party will, nor will it permit any Subsidiary to, Dispose of any asset,
including any Equity Interest owned by it, nor will the Borrower permit any Subsidiary to issue any additional Equity Interest in such Subsidiary (other than to the Borrower or another Subsidiary in compliance with Section 6.04), except: 

  
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 (a) Dispositions of (i) Inventory in the ordinary course of business and
(ii) used, obsolete, unmerchantable, worn out or surplus equipment or property in the ordinary course of business, (iii) property no longer used or useful to the business of the Loan Parties and their respective Subsidiaries in the
ordinary course of business and (iv) equipment or real property to the extent that (A) such property is exchanged for credit against the purchase price of similar replacement property or (B) the proceeds of such sale, transfer of
disposition are reasonably promptly applied to the purchase price of such replacement property; 
 (b) Dispositions of assets to the Borrower
or any Subsidiary, provided that any such Dispositions involving a Subsidiary that is not a Loan Party shall be made in compliance with Section 6.09; 

(c) Dispositions of Accounts (excluding sales or dispositions in a factoring arrangement) in connection with the compromise, settlement or
collection thereof; 
 (d) Dispositions of Permitted Investments and other investments permitted by clauses (i) and (j) of
Section 6.04; 
 (e) Sale and Leaseback Transactions permitted by Section 6.06; 

(f) Dispositions resulting from any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or
similar proceeding of, any property or asset of the Borrower or any Subsidiary; 
 (g) leases or subleases of real property granted in the
ordinary course of business (and in the ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or sublicenses of personal property (other than intellectual property)
granted in the ordinary course of business, if the leases, subleases, licenses and sublicenses do not prohibit granting the Lender a security interest therein; 

(h) non-exclusive licenses of intellectual property granted to third parties in the ordinary course of
business, and licenses of intellectual property that could not result in a legal transfer of title of licensed property that may be exclusive in respects other than territory and that may be exclusive as to territory only as to discrete geographical
areas outside of the United States; 
 (i) the granting of Liens permitted by Section 6.02; and 

(j) Dispositions of assets (other than Equity Interests in a Subsidiary unless all Equity Interests in such Subsidiary are sold) that are not
permitted by any other clause of this Section, provided that the aggregate fair market value of all assets Disposed of in reliance upon this paragraph (j) shall not exceed $5,000,000 during any fiscal year of the Borrower. 

SECTION 6.06. Sale and Leaseback Transactions. No Loan Party will, nor will it permit any Subsidiary to, enter into any
arrangement, directly or indirectly, whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property that it
intends to use for substantially the same purpose or purposes as the property sold or transferred (a “Sale and Leaseback Transaction”), except for any such sale of any fixed or capital assets by any Borrower or any Subsidiary
that is made for cash consideration in an amount not less than the fair value of such fixed or capital asset and is consummated within 90 days after such Borrower or such Subsidiary acquires or completes the construction of such fixed or capital
asset. 

  
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 SECTION 6.07. Swap Agreements. No Loan Party will, nor will it permit any
Subsidiary to, enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge or mitigate risks to which the Borrower or any Subsidiary has actual exposure (other than those in respect of Equity Interests of the Borrower or any
Subsidiary), and (b) Swap Agreements entered into in order to effectively cap, collar or exchange interest rates (from floating to fixed rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing
liability or investment of the Borrower or any Subsidiary. 
 SECTION 6.08. Restricted Payments; Certain Payments of
Indebtedness. 
 (a) No Loan Party will, nor will it permit any Subsidiary to, declare or make, or agree to declare or make, directly or
indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except (i) the Borrower may declare and pay dividends with respect to its common stock payable solely in additional shares of its common stock, and,
with respect to its preferred stock, payable solely in additional shares of such preferred stock or in shares of its common stock, (ii) Subsidiaries may declare and pay dividends ratably with respect to their Equity Interests, (iii) the
Borrower may purchase of capital stock from former or current employees, officers, consultants and directors pursuant to employee stock purchase plans, stockholder plans, director or consultant stock option plans, employee stock option agreements,
restricted stock agreements, equity incentive plans or other similar agreements or plans; provided such purchases do not exceed $5,000,000 in the aggregate per fiscal year, and (iv) the Borrower may make Restricted Payments, not exceeding
$5,000,000 during any fiscal year, pursuant to and in accordance with stock option plans or other benefit plans for management or employees of the Borrower and its Subsidiaries. 

(b) No Loan Party will, nor will it permit any Subsidiary to, make or agree to pay or make, directly or indirectly, any payment or other
distribution (whether in cash, securities or other property) of or in respect of principal of or interest on any Indebtedness, or any payment or other distribution (whether in cash, securities or other property), including any sinking fund or
similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Indebtedness, except: 

(i) payment of Indebtedness created under the Loan Documents; 

(ii) payment of regularly scheduled interest and principal payments as and when due in respect of any Indebtedness permitted
under Section 6.01, other than payments prohibited by any applicable subordination provisions thereof; 
 (iii)
refinancings of Indebtedness to the extent permitted by Section 6.01; and 
 (iv) payment of secured Indebtedness that
becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness to the extent such sale or transfer is permitted by the terms of Section 6.05. 

  
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 SECTION 6.09. Transactions with Affiliates. No Loan Party will, nor will it
permit any Subsidiary to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except
(a) transactions that (i) are in the ordinary course of business and (ii) are at prices and on terms and conditions, when taken as a whole, not less favorable to such Loan Party or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties, (b) transactions between or among the Loan Parties not involving any other Affiliate, (c) any investment permitted by Section 6.04, (d) any
Indebtedness permitted under Section 6.01, (e) any Restricted Payment permitted by Section 6.08, (f) loans or advances to employees permitted under Section 6.04, (g) the payment of reasonable fees to directors of the Borrower or any
Subsidiary who are not employees of the Borrower or any Subsidiary, and compensation and employee benefit arrangements paid to, and indemnities provided for the benefit of, directors, officers or employees of the Borrower or its Subsidiaries in the
ordinary course of business, and (h) any issuances of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment agreements, equity based awards, stock options and stock ownership
plans approved by the Borrower’s board of directors. 
 SECTION 6.10. Restrictive Agreements. No Loan Party will, nor will
it permit any Subsidiary to, directly or indirectly enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of such Loan Party or any Subsidiary to create,
incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any Equity Interests or to make or repay loans or advances to the Borrower or any
other Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by any Requirement of Law or by any Loan Document,
(ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.10 of the Disclosure Letter (but shall apply to any extension or renewal of, or any amendment or
modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such
restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured
Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases and other
contracts restricting the assignment thereof. 
 SECTION 6.11. Amendment of Material Documents. No Loan Party will, nor will it
permit any Subsidiary to, amend, modify or waive any of its rights under (a) any agreement relating to any Subordinated Indebtedness except in accordance with the terms of any subordination agreement or intercreditor agreement or (b) its
charter, articles or certificate of organization or incorporation and bylaws or operating, management or partnership agreement, or other organizational or governing documents, to the extent any such amendment, modification or waiver would be
materially adverse to the Lender. 
 SECTION 6.12. Financial Covenant. The Borrower will not permit the Total Leverage Ratio,
measured as of the last day of each fiscal quarter, to be greater than or equal to 3.0 to 1.0. 

  
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 ARTICLE VII 

Events of Default 
 If any
of the following events (“Events of Default”) shall occur: 
 (a) the Borrower shall fail to pay any principal
of any Loan or any reimbursement obligation in respect of any LC Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof; 

(b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in clause
(a) of this Article) payable under this Agreement or any other Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five (5) Business Days; 

(c) any representation or warranty made or deemed made by or on behalf of any Loan Party in or in connection with this Agreement or any other
Loan Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with this Agreement or any other Loan
Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder, shall prove to have been materially incorrect when made or deemed made; 

(d) any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in Section 5.02(a), 5.03 (with respect
to a Loan Party’s existence) or 5.08 or in Article VI; 
 (e) any Loan Party shall fail to observe or perform any covenant,
condition or agreement contained in this Agreement or any other Loan Document (other than those which constitute a default under another Section of this Article VII), and such failure shall continue unremedied for a period of thirty
(30) days after the earlier of any knowledge of a Responsible Officer of the Borrower of such breach or notice thereof from the Lender; 

(f) any Loan Party shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material
Indebtedness, when and as the same shall become due and payable (after giving effect to any applicable grace period set forth in the documents governing such Material Indebtedness and to the extent not waived); 

(g) any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or
permits (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the
prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the
property or assets securing such Indebtedness to the extent such sale or transfer is permitted by the terms of Section 6.05; 

  
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 (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed
seeking (i) liquidation, reorganization or other relief in respect of a Loan Party or its debts, or of a substantial part of its assets, under any federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in
effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any Loan Party or any Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition
shall continue undismissed for sixty (60) days or an order or decree approving or ordering any of the foregoing shall be entered; 
 (i)
any Loan Party shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in
effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver,
trustee, custodian, sequestrator, conservator or similar official for such Loan Party or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding,
(v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing; 

(j) any Loan Party shall become unable, admit in writing its inability, or publicly declare its intention not to, or fail generally, to pay its
debts as they become due; 
 (k) one or more judgments for the payment of money in an aggregate amount in excess of $5,000,000 (to the extent
not covered by insurance) shall be rendered against any Loan Party and the same shall remain undischarged for a period of sixty (60) consecutive days during which execution shall not be effectively stayed or bonded, or any action shall be
legally taken by a judgment creditor to attach or levy upon any assets of any Loan Party to enforce any such judgment or any Loan Party shall fail within sixty (60) days to discharge one or more
non-monetary judgments or orders which, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect, which judgments or orders, in any such case, are not stayed on appeal
or otherwise being appropriately contested in good faith by proper proceedings diligently pursued; 
 (l) an ERISA Event shall have occurred
that, when taken together with all other ERISA Events that have occurred, could reasonably be expected to result in a Material Adverse Effect; 

(m) a Change in Control shall occur; 

(n) the Loan Guaranty shall fail to remain in full force or effect or any action shall be taken to discontinue or to assert the invalidity or
unenforceability of the Loan Guaranty, or any individual Guarantor dies or a guardian or conservator is appointed for any individual Guarantor or all or any portion of their property, or any Guarantor shall fail to comply with any of the terms or
provisions of the Loan Guaranty to which it is a party, or any Guarantor shall deny that it has any further liability under the Loan Guaranty to which it is a party, or shall give notice to such effect, including, but not limited to notice of
termination delivered pursuant to Section 9.08; 

  
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 (o) except as permitted by the terms of any Collateral Document, (i) any Collateral
Document shall for any reason fail to create a valid security interest in any Collateral purported to be covered thereby other than by reason of any actions or failure to act by the Lender, or (ii) any Lien securing any Secured Obligation shall
cease to be a perfected, first priority Lien other than by reason of any actions or failure to act by the Lender; 
 (p) any Collateral
Document shall fail to remain in full force or effect or any action shall be taken to discontinue or to assert the invalidity or unenforceability of any Collateral Document except pursuant to the terms thereof; or 

(q) any intercreditor agreement or subordination agreement at any time after its execution and delivery and for any reason other than as
expressly permitted hereunder or thereunder has been revoked or invalidated, or any Loan Party shall contest or support any other Person in any action that seeks to contest, the validity or effectiveness of any such intercreditor agreement or
subordination agreement; 
 then, and in every such event (other than an event with respect to the Borrower described in clause (h) or (i) of this
Article), and at any time thereafter during the continuance of such event, the Lender may, by notice to the Borrower, take either or both of the following actions, at the same or different times: (i) terminate the Commitment, whereupon the
Commitment shall terminate immediately, (ii) declare the Loans then outstanding to be due and payable in whole (or in part, but ratably as among the Classes of Loans and the Loans of each Class at the time outstanding, in which case any
principal not so declared to be due and payable may thereafter be declared to be due and payable), whereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees (including, for the
avoidance of doubt, any break funding payment) and other obligations of the Borrower accrued hereunder and under any other Loan Document, shall become due and payable immediately, in each case without presentment, demand, protest or other notice of
any kind, all of which are hereby waived by the Borrower, and (iii) require cash collateral for the LC Exposure in accordance with Section 2.04(h) hereof; and in the case of any event with respect to the Borrower described in clause
(h) or (i) of this Article, the Commitment shall automatically terminate and the principal of the Loans then outstanding, and cash collateral for the LC Exposure, together with accrued interest thereon and all fees (including, for the avoidance
of doubt, any break funding payments) and other obligations of the Borrower accrued hereunder and under any other Loan Documents, shall automatically become due and payable, in each case without presentment, demand, protest or other notice of any
kind, all of which are hereby waived by the Borrower. Upon the occurrence and during the continuance of an Event of Default, the Lender may increase the rate of interest applicable to the Loans and other Obligations as set forth in this Agreement
and exercise any rights and remedies provided to the Lender under the Loan Documents or at law or equity, including all remedies provided under the UCC. 

  
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 ARTICLE VIII 

Miscellaneous 

SECTION 8.01. Notices. 

(a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to paragraph
(b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by fax, as follows: 

 

	 	(i)	 if to any Loan Party, to it in care of the Borrower at: 

FIGS, Inc. 
 2834 Colorado Ave,
Suite 100 
 Santa Monica, CA 90404 

Attention: Catherine Spear 

Email:                      

With a copy to: FIGS Legal (legal@wearfigs.com) 
  

	 	(ii)	 if to JPMorgan Chase Bank, N.A. at: 

JPMorgan Chase Bank, N.A. 

Middle Market Servicing 
 10
South Dearborn, Floor L2 Suite IL1-1145 
 Chicago, IL, 60603-2300 

Attention: WLS Operation Manager 

With a copy to: 
 JPMorgan Chase
Bank, N.A. 
 560 Mission Street, 4th Floor 

San Francisco, CA 94105 

Attention: Haley Heslip 
 Phone:
                     
 Email:
                     
 All such notices and other
communications (i) sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received, (ii) sent by fax shall be deemed to have been given when sent, provided that
if not given during normal business hours for the recipient, such notice or communication shall be deemed to have been given at the opening of business on the next Business Day of the recipient, or (iii) delivered through Electronic Systems to
the extent provided in paragraph (b) below shall be effective as provided in such paragraph. 
 (b) Notices and other communications to
the Lender hereunder may be delivered or furnished by using Electronic Systems pursuant to procedures approved by the Lender; provided that the foregoing shall not apply to notices pursuant to Article II or to compliance and no Default
certificates delivered pursuant to Sections 5.01(d) and 5.01(e) unless otherwise stated or agreed by the Lender. Each of the Lender and the Borrower (on behalf of the Loan Parties) may, in its discretion, agree to accept notices and other
communications to it hereunder by using Electronic Systems pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. All such notices and other communications
(i) sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function,

  
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as available, return e-mail or other written acknowledgement), provided that if not given during the normal business hours of the recipient, such notice or
communication shall be deemed to have been given at the opening of business on the next Business Day for the recipient, and (ii) posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended
recipient, at its e-mail address as described in the foregoing clause (i), of notification that such notice or communication is available and identifying the website address therefor; provided that, for both
clauses (i) and (ii) above, if such notice, e-mail or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at
the opening of business on the next Business Day of the recipient. 
 (c) Any party hereto may change its address, facsimile number or e-mail address for notices and other communications hereunder by notice to the other parties hereto. 

SECTION 8.02. Waivers; Amendments. 

(a) No failure or delay by the Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power.
The rights and remedies of the Lender hereunder and under any other Loan Document are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of any Loan Document or consent to any
departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for
which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the Lender may have had notice or knowledge of such
Default at the time. 
 (b) Neither this Agreement nor any other Loan Document nor any provision hereof or thereof may be waived, amended or
modified except (i) in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by the Borrower and the Lender or (ii) in the case of any other Loan Document, pursuant to an agreement or agreements in
writing entered into by the Lender and the Loan Party or Loan Parties that are parties thereto. 
 SECTION 8.03. Expenses;
Indemnity; Damage Waiver. 
 (a) The Loan Parties, jointly and severally, shall pay all (i) reasonable out-of-pocket expenses incurred by the Lender and its Affiliates, including the reasonable fees, charges and disbursements of counsel for the Lender (whether outside counsel
or the allocated costs of its internal legal department), in connection with the credit facilities provided for herein, the preparation and administration of the Loan Documents and any amendments, modifications or waivers of the provisions of the
Loan Documents (whether or not the transactions contemplated hereby or thereby shall be consummated; provided that the aggregate amount of such expenses in connection with the documentation and negotiation of the Loan Documents which the Borrower
shall pay shall not exceed $35,000), (ii) reasonable out-of-pocket expenses incurred by the Lender in connection with the issuance, amendment, renewal or extension of
any Letter of Credit or any demand for payment thereunder and (iii) reasonable out-of-pocket expenses incurred by the

  
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Lender, including the fees, charges and disbursements of any counsel for the Lender (whether outside counsel or the allocated costs of its internal legal department), in connection with the
enforcement, collection or protection of its rights in connection with the Loan Documents, including its rights under this Section, or in connection with the Loans made or Letters of Credit issued hereunder, including all such reasonable out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. Expenses being reimbursed by the Loan Parties
under this Section include, without limiting the generality of the foregoing, reasonable fees, costs and expenses incurred in connection with: 

(A) appraisals and insurance reviews; 

(B) field examinations and the preparation of Reports based on the fees charged by a third party retained by the Lender or the
internally allocated fees for each Person employed by the Lender with respect to each field examination; 
 (C) background
checks regarding senior management and/or key investors, as deemed necessary or appropriate in the sole discretion of the Lender; 

(D) sums paid or incurred to take any action required of any Loan Party under the Loan Documents that such Loan Party fails to
pay or take; and 
 (E) forwarding loan proceeds, collecting checks and other items of payment, and establishing and
maintaining the accounts and lock boxes, and costs and expenses of preserving and protecting the Collateral. 
 All of the foregoing fees, costs and
expenses may be charged to the Borrower as Revolving Loans or to another deposit account, all as described in Section 2.16(c). 
 (b)
The Loan Parties, jointly and severally, shall indemnify the Lender, and each Related Party of the Lender (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses,
claims, damages, penalties, incremental taxes, liabilities and related expenses, including the reasonable fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection
with, or as a result of (i) the execution or delivery of the Loan Documents or any agreement or instrument contemplated thereby, the performance by the parties hereto of their respective obligations thereunder or the consummation of the
Transactions or any other transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by the Lender to honor a demand for payment under a Letter of Credit if the documents
presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or Release of Hazardous Materials on or from any property owned or operated by a Loan Party, or any
Environmental Liability related in any way to a Loan Party or Subsidiary, (iv) the failure of a Loan Party to deliver to the Lender the required receipts or other required documentary evidence with respect to a payment made by such Loan Party
for Taxes pursuant to Section 2.15, or (v) any actual or prospective claim, litigation, investigation, arbitration or proceeding relating to any of the foregoing, whether or not such claim, litigation, investigation, arbitration or
proceeding is brought by any Loan Party or their respective equity holders, Affiliates, creditors or any other third Person 

  
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and whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be
available to the extent that such losses, claims, damages, penalties, liabilities or related expenses are determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted
from the gross negligence or willful misconduct of such Indemnitee. This Section 8.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses or damages arising from any
non-Tax claim. 
 (c) To the extent permitted by applicable law, no party hereto shall assert, and
each party hereto hereby waives, any claim against any other party hereto, (i) for any damages arising from the use by others of information or other materials obtained through telecommunications, electronic or other information transmission
systems (including the Internet), or (ii) on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any
other Loan Document, or any agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof; provided that, nothing in this paragraph (c) shall relieve any Loan
Party of any obligation it may have to indemnify an Indemnitee against special, indirect, consequential or punitive damages asserted against such Indemnitee by a third party. 

(d) All amounts due under this Section shall be payable promptly after written demand therefor. 

SECTION 8.04. Successors and Assigns. 

(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby (including any Affiliate of the Lender that issues any Letter of Credit), except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the
Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby (including any Affiliate of the Lender that issues any Letter of Credit), Participants (to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated
hereby, the Related Parties of the Lender) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 (b) The
Lender may assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) to one or more purchasers whether or not related to
the Bank. 
 (c) The Lender may, without the consent of, or notice to, the Borrower, sell participations to one or more banks or other
entities (a “Participant”) in all or a portion of the Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or Letters of Credit and/or the Loans owing to it);
provided that (i) the Lender’s obligations under this Agreement shall remain unchanged; (ii) the Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; and (iii) the

  
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Borrower shall continue to deal solely and directly with the Lender in connection with the Lender’s rights and obligations under this Agreement. The Borrower agrees that each Participant
shall be entitled to the benefits of Sections 2.13, 2.14 and 2.15 (subject to the requirements and limitations therein) to the same extent as if it were the Lender and had acquired its interest by assignment pursuant to paragraph (b) of
this Section; provided that such Participant shall not be entitled to receive any greater payment under Section 2.13 or 2.15, with respect to any participation, than its participating Lender would have been entitled to receive, except to
the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation. 

To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 8.08 as though it were the Lender. If the Lender shall
sell a participation, it shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal
amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under this Agreement or any other Loan Document (the “Participant Register”); provided that the Lender shall have no
obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any Commitment, Loans, Letters of Credit or its other obligations under
this Agreement or any other Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such Commitment, Loan, Letter of Credit or other obligation is in registered form under
Section 5f.103-1(c) of the U.S. Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and the Lender shall treat each Person whose name is recorded in
the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. 

(d) The Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure
obligations of the Lender, including without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no
such pledge or assignment of a security interest shall release the Lender from any of its obligations hereunder or substitute any such pledgee or assignee for the Lender as a party hereto. 

SECTION 8.05. Survival. All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents
and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery
of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Lender may have had notice or knowledge of any
Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under
this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitment has not expired or terminated. The provisions of Sections 2.13, 2.14, 2.15 and Section 8.03 shall survive and remain in full
force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitment or the termination of this Agreement or any other Loan
Document or any provision hereof or thereof. 

  
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 SECTION 8.06. Counterparts; Integration; Effectiveness; Electronic Execution.

 (a) This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Loan Documents and any separate letter agreements with respect to fees payable to the Lender constitute the entire contract
among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become
effective when it shall have been executed by the Lender and when the Lender shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns. 
 (b) Delivery of an executed counterpart of a signature
page of this Agreement by fax, emailed pdf. or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement. The words
“execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to any document to be signed in connection with this Agreement and the transactions contemplated hereby or thereby shall
be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use
of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 
 SECTION 8.07. Severability. Any
provision of any Loan Document held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

SECTION 8.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, the Lender and each of its Affiliates
is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time
owing by the Lender or any Affiliate to or for the credit or the account of any Loan Party against any and all of the Secured Obligations, irrespective of whether or not the Lender shall have made any demand under this Agreement or any other Loan
Document and although such obligations of the Loan Parties may be contingent or unmatured or are owed to a branch office or Affiliate of the Lender different from the branch office or Affiliate holding such deposit or obligated on such indebtedness.
The rights of the Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which the Lender may have. 

  
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 SECTION 8.09. Governing Law; Jurisdiction; Consent to Service of Process. 

(a) The Loan Documents (other than those containing a contrary express choice of law provision) shall be governed by and construed in
accordance with the internal laws of the State of California, but giving effect to federal laws applicable to national banks. 
 (b) Each of
the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any U.S. federal or California State court sitting in San Francisco, California, and any appellate court from any
thereof, in any action or proceeding arising out of or relating to any Loan Documents, the transactions relating hereto or thereto, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or proceeding may (and any such claims, cross-claims or third party claims brought against the Lender or any of its Related Parties may only) be heard and determined in such state
court or, to the extent permitted by law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in
any other manner provided by law. Nothing in this Agreement or any other Loan Document shall affect any right that the Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against any Loan
Party or its properties in the courts of any jurisdiction. 
 (c) Each Loan Party hereby irrevocably and unconditionally waives, to the
fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court
referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

 (d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 8.01.
Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 8.10. WAIVER OF JURY TRIAL. (a) EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OR OTHER AGENT (INCLUDING ANY ATTORNEY) OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

  
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 (b) If this jury waiver is not enforceable, then any and all disputes or controversies of
any nature between them arising at any time shall be decided by a reference to a private judge, mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of the San Francisco County, California Superior Court) appointed in
accordance with California Code of Civil Procedure Section 638. Nothing in this paragraph shall limit the right of any party at any time to exercise self-help remedies, foreclose against collateral, or obtain provisional remedies. The private
judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this paragraph. 

SECTION 8.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of
reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

SECTION 8.12. Confidentiality. The Lender agrees to maintain the confidentiality of the Information (as defined below), except
that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (collectively, “Representatives”) having a need to know
such Information (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any
Governmental Authority (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by any Requirement of Law or by any subpoena or similar legal process; provided that, to
the extent not otherwise prohibited by such Requirement of Law, subpoena, or legal process, the Lender provides the Loan Parties with prompt written notice of such disclosure and makes a reasonable effort to assist, at the Borrower’s sole
expense, the Loan Parties in obtaining a protective order preventing or limiting the disclosure and/or requiring that the Information so disclosed be used only for the purposes for which the Law or regulation required, or for which the order was
issued, (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any suit, action or proceeding relating to this Agreement or any other Loan Document or the
enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (x) any assignee of or Participant in, or any prospective assignee of or Participant in,
any of its rights or obligations under this Agreement or (y) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Loan Parties and their obligations, (g) with the prior consent of
the Borrower, or (h) to any Person providing a Guarantee of all or any portion of the Secured Obligations. For the purposes of this Section, “Information” means all information received from the Borrower or any other Loan Party
relating to the Borrower, such other Loan Party, or the Borrower’s or such other Loan Party’s business, as applicable, other than any such information that is available to the Lender on a
non-confidential basis prior to disclosure by the Borrower or such other Loan Party; provided that, in the case of information received from a Loan Party after the date hereof, such information is
clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. The Lender shall be responsible for any breach of this Section by any of its Representatives
except for breaches committed by any such Representative that has executed its own confidentiality agreement with the Loan Parties. 

  
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 SECTION 8.13. Nonreliance; Violation of Law. The Lender hereby represents that
it is not relying on or looking to any margin stock (as defined in Regulation U) for the repayment of the Borrowings provided for herein. Anything contained in this Agreement to the contrary notwithstanding, the Lender shall not be obligated to
extend credit to the Borrower in violation of any Requirement of Law. 
 SECTION 8.14. USA PATRIOT Act. The Lender is subject to
the requirements of the USA PATRIOT Act and hereby notifies each Loan Party that pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies such Loan Party, which information includes
the name and address of such Loan Party and other information that will allow the Lender to identify such Loan Party in accordance with the USA PATRIOT Act. 

SECTION 8.15. Disclosure. Each Loan Party hereby acknowledges and agrees that the Lender and/or its Affiliates from time to time
may hold investments in, make other loans to or have other relationships with, any of the Loan Parties and their respective Affiliates. 

SECTION 8.16. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate
applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum
Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in
respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated
and the interest and Charges payable to the Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the NYFRB Rate to the date of
repayment, shall have been received by the Lender. 
 SECTION 8.17. No Fiduciary Duty, Etc. 

(a) The Borrower acknowledges and agrees, and acknowledges its Subsidiaries’ understanding, that the Lender will not have any obligations
except those obligations expressly set forth herein and in the other Loan Documents and the Lender is acting solely in the capacity of an arm’s length contractual counterparty to the Borrower with respect to the Loan Documents and the
transactions contemplated herein and therein and not as a financial advisor or a fiduciary to, or an agent of, the Borrower or any other person. The Borrower agrees that it will not assert any claim against the Lender based on an alleged breach of
fiduciary duty by the Lender in connection with this Agreement and the transactions contemplated hereby. Additionally, the Borrower acknowledges and agrees that the Lender is not advising the Borrower as to any legal, tax, investment, accounting,
regulatory or any other matters in any jurisdiction. The Borrower shall consult with its own advisors concerning such matters and shall be responsible for making its own independent investigation and appraisal of the transactions contemplated herein
or in the other Loan Documents, and the Lender shall have no responsibility or liability to the Borrower with respect thereto. 

  
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 (b) The Borrower further acknowledges and agrees, and acknowledges its Subsidiaries’
understanding, that the Lender, together with its Affiliates, is a full service securities or banking firm engaged in securities trading and brokerage activities as well as providing investment banking and other financial services. In the ordinary
course of business, the Lender may provide investment banking and other financial services to, and/or acquire, hold or sell, for its own accounts and the accounts of customers, equity, debt and other securities and financial instruments (including
bank loans and other obligations) of, the Borrower and other companies with which the Borrower may have commercial or other relationships. With respect to any securities and/or financial instruments so held by the Lender or any of its customers, all
rights in respect of such securities and financial instruments, including any voting rights, will be exercised by the holder of the rights, in its sole discretion. 

(c) In addition, the Borrower acknowledges and agrees, and acknowledges its Subsidiaries’ understanding, that the Lender and its
Affiliates may be providing debt financing, equity capital or other services (including financial advisory services) to other companies in respect of which the Borrower may have conflicting interests regarding the transactions described herein and
otherwise. The Lender will not use confidential information obtained from the Borrower by virtue of the transactions contemplated by the Loan Documents or its other relationships with the Borrower in connection with the performance by the Lender of
services for other companies, and the Lender will not furnish any such information to other companies. The Borrower also acknowledges that the Lender has no obligation to use in connection with the transactions contemplated by the Loan Documents, or
to furnish to the Borrower, confidential information obtained from other companies. 
 SECTION 8.18. Reserved. 

SECTION 8.19. Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a
guarantee or otherwise, for Swap Agreements or any other agreement or instrument that is a QFC (such support “QFC Credit Support” and each such QFC a “Supported QFC”), the parties acknowledge and agree as follows
with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated
thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to
be governed by the laws of the State of California and/or of the United States or any other state of the United States): 
 In the event a
Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support
(and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the
transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United
States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding 

  
 80 

 
under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such
Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a
state of the United States. 
 ARTICLE IX 

Loan Guaranty 

SECTION 9.01. Guaranty. Each Loan Guarantor (other than those that have delivered a separate Guaranty) hereby agrees that it is
jointly and severally liable for, and, as a primary obligor and not merely as surety, absolutely and unconditionally and irrevocably guarantees to the Secured Parties, the prompt payment when due, whether at stated maturity, upon acceleration or
otherwise, and at all times thereafter, of the Secured Obligations and all costs and expenses including, without limitation, all court costs and reasonable attorneys’ and paralegals’ fees (including allocated costs of in-house counsel and paralegals) and expenses paid or incurred by the Lender in endeavoring to collect all or any part of the Secured Obligations from, or in prosecuting any action against, the Borrower, any Loan
Guarantor or any other guarantor of all or any part of the Secured Obligations (such costs and expenses, together with the Secured Obligations, collectively the “Guaranteed Obligations”); provided, however, that the
definition of “Guaranteed Obligations” shall not create any guarantee by any Loan Guarantor of (or grant of security interest by any Loan Guarantor to support, as applicable) any Excluded Swap Obligations of such Loan Guarantor for
purposes of determining any obligations of any Loan Guarantor). Each Loan Guarantor further agrees that the Guaranteed Obligations may be extended or renewed in whole or in part without notice to or further assent from it, and that it remains bound
upon its guarantee notwithstanding any such extension or renewal. All terms of this Loan Guaranty apply to and may be enforced by or on behalf of any domestic or foreign branch or Affiliate of the Lender that extended any portion of the Guaranteed
Obligations. 
 SECTION 9.02. Guaranty of Payment. This Loan Guaranty is a guaranty of payment and not of collection. Each Loan
Guarantor waives any right to require the Lender to sue the Borrower, any Loan Guarantor, any other guarantor of, or any other Person obligated for all or any part of the Guaranteed Obligations (each, an “Obligated Party”), or
otherwise to enforce its payment against any collateral securing all or any part of the Guaranteed Obligations. 
 SECTION 9.03. No
Discharge or Diminishment of Loan Guaranty. 
 (a) Except as otherwise provided for herein, the obligations of each Loan Guarantor
hereunder are unconditional and absolute and not subject to any reduction, limitation, impairment or termination for any reason (other than the Payment in Full of the Guaranteed Obligations), including: (i) any claim of waiver, release,
extension, renewal, settlement, surrender, alteration, or compromise of any of the Guaranteed Obligations, by operation of law or otherwise; (ii) any change in the corporate existence, structure or ownership of the Borrower or any other
Obligated Party liable for any of the Guaranteed Obligations; (iii) any insolvency, bankruptcy, reorganization or other similar proceeding affecting any Obligated Party, or their assets or any resulting release or discharge of any obligation of
any Obligated Party; or (iv) the existence of any claim, setoff or other rights which any Loan Guarantor may have at any time against any Obligated Party, the Lender or any other Person, whether in connection herewith or in any unrelated
transactions. 

  
 81 

 (b) The obligations of each Loan Guarantor hereunder are not subject to any defense or
setoff, counterclaim, recoupment, or termination whatsoever by reason of the invalidity, illegality, or unenforceability of any of the Guaranteed Obligations or otherwise, or any provision of applicable law or regulation purporting to prohibit
payment by any Obligated Party, of the Guaranteed Obligations or any part thereof. 
 (c) Further, the obligations of any Loan Guarantor
hereunder are not discharged or impaired or otherwise affected by: (i) the failure of the Lender to assert any claim or demand or to enforce any remedy with respect to all or any part of the Guaranteed Obligations; (ii) any waiver or
modification of or supplement to any provision of any agreement relating to the Guaranteed Obligations; (iii) any release, non-perfection, or invalidity of any indirect or direct security for the
obligations of the Borrower for all or any part of the Guaranteed Obligations or any obligations of any other Obligated Party liable for any of the Guaranteed Obligations; (iv) any action or failure to act by the Lender with respect to any
collateral securing any part of the Guaranteed Obligations; or (v) any default, failure or delay, willful or otherwise, in the payment or performance of any of the Guaranteed Obligations, or any other circumstance, act, omission or delay that
might in any manner or to any extent vary the risk of such Loan Guarantor or that would otherwise operate as a discharge of any Loan Guarantor as a matter of law or equity (other than the Payment in Full of the Guaranteed Obligations). 

SECTION 9.04. Defenses Waived. To the fullest extent permitted by applicable law, each Loan Guarantor hereby waives any defense
based on or arising out of any defense of the Borrower or any Loan Guarantor or the unenforceability of all or any part of the Guaranteed Obligations from any cause, or the cessation from any cause of the liability of the Borrower, any Loan
Guarantor or any other Obligated Party, other than the Payment in Full of the Guaranteed Obligations. Without limiting the generality of the foregoing, each Loan Guarantor irrevocably waives acceptance hereof, presentment, demand, protest and, to
the fullest extent permitted by law, any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against any Obligated Party, or any other Person. Each Loan Guarantor confirms that it is not a
surety under any state law and shall not raise any such law as a defense to its obligations hereunder. The Lender may, at its election, foreclose on any Collateral held by it by one or more judicial or nonjudicial sales, accept an assignment of any
such Collateral in lieu of foreclosure or otherwise act or fail to act with respect to any collateral securing all or a part of the Guaranteed Obligations, compromise or adjust any part of the Guaranteed Obligations, make any other accommodation
with any Obligated Party or exercise any other right or remedy available to it against any Obligated Party, without affecting or impairing in any way the liability of such Loan Guarantor under this Loan Guaranty, except to the extent the Guaranteed
Obligations have been Paid in Full. To the fullest extent permitted by applicable law, each Loan Guarantor waives any defense arising out of any such election even though that election may operate, pursuant to applicable law, to impair or extinguish
any right of reimbursement or subrogation or other right or remedy of any Loan Guarantor against any Obligated Party or any security. 

  
 82 

 SECTION 9.05. Rights of Subrogation. No Loan Guarantor will assert any right,
claim or cause of action, including, without limitation, a claim of subrogation, contribution or indemnification that it has against any Obligated Party, or any collateral, until the Loan Parties and the Loan Guarantors have fully performed all
their obligations to the Lender. 
 SECTION 9.06. Reinstatement; Stay of Acceleration. If at any time any payment of any portion
of the Guaranteed Obligations (including a payment effected through exercise of a right of setoff) is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy, or reorganization of the Borrower or otherwise (including
pursuant to any settlement entered into by a Secured Party in its discretion), each Loan Guarantor’s obligations under this Loan Guaranty with respect to that payment shall be reinstated at such time as though the payment had not been made and
whether or not the Lender is in possession of this Loan Guaranty. If acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon the insolvency, bankruptcy or reorganization of the Borrower, all such amounts otherwise
subject to acceleration under the terms of any agreement relating to the Guaranteed Obligations shall nonetheless be payable by the Loan Guarantors forthwith on demand by the Lender. 

SECTION 9.07. Information. Each Loan Guarantor assumes all responsibility for being and keeping itself informed of the
Borrower’s financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that each Loan Guarantor assumes and incurs under this
Loan Guaranty, and agrees that the Lender shall not have any duty to advise any Loan Guarantor of information known to it regarding those circumstances or risks. 

SECTION 9.08. Termination. The Lender may continue to make loans or extend credit to the Borrower based on this Loan Guaranty
until five (5) days after it receives written notice of termination from any Loan Guarantor. Notwithstanding receipt of any such notice, each Loan Guarantor will continue to be liable to the Lender for any Guaranteed Obligations created,
assumed or committed to prior to the fifth day after receipt of the notice, and all subsequent renewals, extensions, modifications and amendments with respect to, or substitutions for, all or any part of such Guaranteed Obligations. Nothing in this
Section 9.08 shall be deemed to constitute a waiver of, or eliminate, limit, reduce or otherwise impair any rights or remedies the Lender may have in respect of, any Default or Event of Default that shall exist under Article VII hereof as
a result of any such notice of termination. 
 SECTION 9.09. Taxes. Each payment of the Guaranteed Obligations will be made by
each Loan Guarantor without withholding for any Taxes, unless such withholding is required by law. If any Loan Guarantor determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such Loan Guarantor
may so withhold and shall timely pay the full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable law. If such Taxes are Indemnified Taxes, then the amount payable by such Loan Guarantor shall be increased
as necessary so that, net of such withholding (including such withholding applicable to additional amounts payable under this Section), the Lender receives the amount it would have received had no such withholding been made. 

SECTION 9.10. Maximum Liability. Notwithstanding any other provision of this Loan Guaranty, the amount guaranteed by each Loan
Guarantor hereunder shall be limited to the extent, if any, required so that its obligations hereunder shall not be subject to avoidance under Section 548 of the Bankruptcy Code or under any applicable state Uniform Fraudulent Transfer

  
 83 

 
Act, Uniform Fraudulent Conveyance Act, Uniform Voidable Transactions Act or similar statute or common law. In determining the limitations, if any, on the amount of any Loan Guarantor’s
obligations hereunder pursuant to the preceding sentence, it is the intention of the parties hereto that any rights of subrogation, indemnification or contribution which such Loan Guarantor may have under this Loan Guaranty, any other agreement or
applicable law shall be taken into account. 
 SECTION 9.11. Contribution. 

(a) To the extent that any Loan Guarantor shall make a payment under this Loan Guaranty (a “Guarantor Payment”) which,
taking into account all other Guarantor Payments then previously or concurrently made by any other Loan Guarantor, exceeds the amount which otherwise would have been paid by or attributable to such Loan Guarantor if each Loan Guarantor had paid the
aggregate Guaranteed Obligations satisfied by such Guarantor Payment in the same proportion as such Loan Guarantor’s “Allocable Amount” (as defined below) (as determined immediately prior to such Guarantor Payment) bore to the
aggregate Allocable Amounts of each of the Loan Guarantors as determined immediately prior to the making of such Guarantor Payment, then, following indefeasible payment in full in cash of the Guarantor Payment, the Payment in Full of the Guaranteed
Obligations and the termination of this Agreement, such Loan Guarantor shall be entitled to receive contribution and indemnification payments from, and be reimbursed by, each other Loan Guarantor for the amount of such excess, pro rata based upon
their respective Allocable Amounts in effect immediately prior to such Guarantor Payment. 
 (b) As of any date of determination, the
“Allocable Amount” of any Loan Guarantor shall be equal to the excess of the fair saleable value of the property of such Loan Guarantor over the total liabilities of such Loan Guarantor (including the maximum amount reasonably
expected to become due in respect of contingent liabilities, calculated, without duplication, assuming each other Loan Guarantor that is also liable for such contingent liability pays its ratable share thereof), giving effect to all payments made by
other Loan Guarantors as of such date in a manner to maximize the amount of such contributions. 
 (c) This Section 9.11 is intended
only to define the relative rights of the Loan Guarantors, and nothing set forth in this Section 9.11 is intended to or shall impair the obligations of the Loan Guarantors, jointly and severally, to pay any amounts as and when the same shall
become due and payable in accordance with the terms of this Loan Guaranty. 
 (d) The parties hereto acknowledge that the rights of
contribution and indemnification hereunder shall constitute assets of the Loan Guarantor or Loan Guarantors to which such contribution and indemnification is owing. 

(e) The rights of the indemnifying Loan Guarantors against other Loan Guarantors under this Section 9.11 shall be exercisable upon the
Payment in Full of the Guaranteed Obligations and the termination of this Agreement. 
 SECTION 9.12. Liability Cumulative. The
liability of each Loan Party as a Loan Guarantor under this Article IX is in addition to and shall be cumulative with all liabilities of each Loan Party to the Lender under this Agreement and the other Loan Documents to which such Loan Party is
a party or in respect of any obligations or liabilities of the other Loan Parties, without any limitation as to amount, unless the instrument or agreement evidencing or creating such other liability specifically provides to the contrary. 

  
 84 

 SECTION 9.13. Keepwell. Each Qualified ECP Guarantor hereby jointly and
severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to honor all of its obligations under this Guarantee in respect of a Swap Obligation
(provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 9.13 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 9.13 or otherwise
under this Loan Guaranty voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). Except as otherwise provided herein, the obligations of each Qualified ECP Guarantor under this
Section 9.13 shall remain in full force and effect until the termination of all Swap Obligations. Each Qualified ECP Guarantor intends that this Section 9.13 constitute, and this Section 9.13 shall be deemed to constitute, a
“keepwell, support, or other agreement” for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

[Signature Page Follows] 

  
 85 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized officers as of the day and year first above written. 
  

			
	FIGS, INC., as the Borrower
		
	By:	 	 /s/ Catherine Spear

	Name:	 	Catherine Spear
	Title:	 	Co-Chief Executive Officer
	
	JPMORGAN CHASE BANK, N.A., as the Lender
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
  

 

  
 [Signature Page to
Credit Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized officers as of the day and year first above written. 
  

			
	FIGS, INC., as the Borrower
		
	By:	 	  

	Name:	 	Catherine Spear
	Title:	 	Co-Chief Executive Officer
	
	JPMORGAN CHASE BANK, N.A., as the Lender
		
	By:	 	 /s/ Haley Heslip

	Name:	 	 Haley Heslip

	Title:	 	 VP

  
  

 

  
 [Signature Page to
Credit Agreement] 

 1. SCHEDULE 3.05 - Properties. 

2. SCHEDULE 3.06 - Litigation and Environmental Matters. 
 3.
SCHEDULE 3.15 - Capitalization and Subsidiaries. 
 4. SCHEDULE 3.23 - Affiliate Transactions. 

5. SCHEDULE 6.01 - Existing Indebtedness 
 6. SCHEDULE 6.02 -
Existing Liens 
 7. SCHEDULE 6.04 - Existing Investments 
 8.
SCHEDULE 6.10 - Existing Restrictions 

 Exhibit A 

 Exhibit B 

 Exhibit C 

 Exhibit DEX-10.10

 Exhibit 10.10 

OFFICE LEASE 

2834 COLORADO AVENUE 

2834 COLORADO AVENUE, LLC, 

a Delaware limited liability company, 

as Landlord 
 and 

FIGS, INC., 
 a Delaware
corporation, 
 as Tenant 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 ARTICLE 1 PREMISES, BUILDING, PROJECT, AND COMMON AREAS
	  	 	5	 
		
	 ARTICLE 2 LEASE TERM
	  	 	7	 
		
	 ARTICLE 3 BASE RENT
	  	 	11	 
		
	 ARTICLE 4 ADDITIONAL RENT
	  	 	12	 
		
	 ARTICLE 5 USE OF PREMISES
	  	 	25	 
		
	 ARTICLE 6 SERVICES AND UTILITIES
	  	 	27	 
		
	 ARTICLE 7 REPAIRS
	  	 	31	 
		
	 ARTICLE 8 ADDITIONS AND ALTERATIONS
	  	 	32	 
		
	 ARTICLE 9 COVENANT AGAINST LIENS
	  	 	35	 
		
	 ARTICLE 10 INSURANCE
	  	 	36	 
		
	 ARTICLE 11 DAMAGE AND DESTRUCTION
	  	 	39	 
		
	 ARTICLE 12 NONWAIVER
	  	 	41	 
		
	 ARTICLE 13 CONDEMNATION
	  	 	42	 
		
	 ARTICLE 14 ASSIGNMENT AND SUBLETTING
	  	 	43	 
		
	 ARTICLE 15 SURRENDER OF PREMISES; OWNERSHIP AND REMOVAL OF TRADE FIXTURES
	  	 	47	 
		
	 ARTICLE 16 HOLDING OVER
	  	 	48	 
		
	 ARTICLE 17 ESTOPPEL CERTIFICATES
	  	 	49	 
		
	 ARTICLE 18 SUBORDINATION
	  	 	49	 
		
	 ARTICLE 19 DEFAULTS; REMEDIES
	  	 	50	 
		
	 ARTICLE 20 COVENANT OF QUIET ENJOYMENT
	  	 	53	 
		
	 ARTICLE 21 TENANT’S DOGS
	  	 	54	 
		
	 ARTICLE 22 LETTER OF CREDIT
	  	 	55	 
		
	 ARTICLE 23 SIGNS; ROOF RIGHTS
	  	 	57	 

  
 i 

					
	 ARTICLE 24 COMPLIANCE WITH LAW
	  	 	59	 
		
	 ARTICLE 25 LATE CHARGES
	  	 	60	 
		
	 ARTICLE 26 LANDLORD’S RIGHT TO CURE DEFAULT; PAYMENTS BY TENANT
	  	 	61	 
		
	 ARTICLE 27 ENTRY BY LANDLORD
	  	 	61	 
		
	 ARTICLE 28 TENANT PARKING
	  	 	62	 
		
	 ARTICLE 29 MISCELLANEOUS PROVISIONS
	  	 	63	 

 EXHIBITS 
  

	A	 OUTLINE OF PREMISES 

  

	B	 TENANT WORK LETTER 

  

	C	 FORM OF NOTICE OF LEASE TERM DATES 

 

	D	 RULES AND REGULATIONS 

 

	E	 FORM OF TENANT’S ESTOPPEL CERTIFICATE 

 

	F	 MARKET RENT ANALYSIS 

 

	G	 COLORADO CREATIVE STUDIOS DEVELOPMENT AGREEMENT 

 

	H	 MONUMENT SIGNAGE 

  

	I	 RESOLUTION OF ARBITRABLE ISSUES 

 

	J	 FORM OF LETTER OF CREDIT 

  
 ii 

 INDEX 
  

					
	 	  	Page	 
	 Abated Months
	  	 	3	 
	 Abatement Event
	  	 	52	 
	 Additional Rent
	  	 	12	 
	 Adjacent Building
	  	 	5	 
	 Advocate Arbitrators
	  	 	8	 
	 Affiliate
	  	 	46	 
	 Alterations
	  	 	32	 
	 Applicable Laws
	  	 	59	 
	 Applicable Reassessment
	  	 	21	 
	 Approved Bank
	  	 	55	 
	 Approved Working Drawings
	  	 	82	 
	 Architect
	  	 	80	 
	 ASHRAE
	  	 	27	 
	 Bank Prime Loan
	  	 	60	 
	 Base Building
	  	 	33	 
	 Base Rent
	  	 	11	 
	 Base Year
	  	 	12	 
	 Base, Shell and Core
	  	 	6	 
	 Bicycle Storage Area
	  	 	26	 
	 Bicycles
	  	 	26	 
	 Brokers
	  	 	67	 
	 Builder’s All Risk
	  	 	33	 
	 Building
	  	 	5	 
	 Building Hours
	  	 	27	 
	 Building Operating Expenses
	  	 	14	 
	 Building Structure
	  	 	31	 
	 Building Systems
	  	 	31	 
	 Change in Ownership
	  	 	20	 
	 Close-Out Package
	  	 	87	 
	 Code
	  	 	77	 
	 Common Areas
	  	 	5	 
	 Construction Documents
	  	 	80	 
	 Contract
	  	 	83	 
	 Control
	  	 	46	 
	 Coordination Fee
	  	 	84	 
	 Cosmetic Alterations
	  	 	32	 
	 Cost Pools
	  	 	21	 
	 Cost Saving Capital Expenditures
	  	 	13	 
	 Damage Termination Date
	  	 	41	 
	 Damage Termination Notice
	  	 	41	 
	 Delay Notice
	  	 	76	 
	 Density Standard
	  	 	75	 
	 Development Agreement
	  	 	25	 

  
 iii 

					
	 Direct Expenses
	  	 	12	 
	 Drawing Change Notice
	  	 	82	 
	 Electric Car Charging Stations
	  	 	26	 
	 Eligibility Period
	  	 	53	 
	 Energy Disclosure Requirements
	  	 	71	 
	 Engineers
	  	 	81	 
	 Estimate
	  	 	22	 
	 Estimate Statement
	  	 	22	 
	 Estimated Excess
	  	 	23	 
	 Excess
	  	 	22	 
	 Expense Year
	  	 	12	 
	 Final Costs
	  	 	84	 
	 Final Order
	  	 	35	 
	 Final Retention
	  	 	79	 
	 Final Space Plan
	  	 	82	 
	 Final Working Drawings
	  	 	82	 
	 First Class Buildings
	  	 	27	 
	 Fitch
	  	 	56	 
	 Force Majeure
	  	 	66	 
	 Force Majeure Work Delay
	  	 	75	 
	 Garage
	  	 	26	 
	 Hazardous Substance
	  	 	25	 
	 Holidays
	  	 	27	 
	 HVAC
	  	 	27	 
	 HVAC Design Standard
	  	 	27	 
	 Impact Day of Delay
	  	 	6	 
	 Indoor Air Quality Standard
	  	 	28	 
	 Intentionally Omitted
	  	 	6	 
	 Landlord
	  	 	1	 
	 Landlord Delay
	  	 	76	 
	 Landlord Parties
	  	 	36	 
	 Landlord Repair Notice
	  	 	39	 
	 Landlord’s Completion Notice
	  	 	39	 
	 Landlord’s Drawing Contribution
	  	 	77	 
	 Lease
	  	 	1	 
	 Lease Commencement Date
	  	 	6	 
	 Lease Expiration Date
	  	 	6	 
	 Lease Term
	  	 	6	 
	 Lease Year
	  	 	6	 
	 Leasing Costs
	  	 	10	 
	 Letter of Credit
	  	 	55	 
	 Lines
	  	 	69	 
	 Mail
	  	 	66	 
	 Management Fee Cap
	  	 	17	 
	 Market Rent
	  	 	7	 
	 Monument Sign
	  	 	59	 

  
 iv 

					
	 Moody’s
	  	 	57	 
	 MPOE
	  	 	32	 
	 Neutral Audit
	  	 	25	 
	 Non Contribution Items
	  	 	80	 
	 Notices
	  	 	67	 
	 Objectionable Name
	  	 	60	 
	 Operating Expenses
	  	 	12	 
	 Option Interest Notice
	  	 	7	 
	 Option Rent
	  	 	7	 
	 Option Rent Notice
	  	 	8	 
	 Option Term
	  	 	7	 
	 Original Improvements
	  	 	39	 
	 Other Improvements
	  	 	71	 
	 Outside Agreement Date
	  	 	8	 
	 Outside Restoration Date
	  	 	42	 
	 Over-Allowance Amount
	  	 	85	 
	 Payment Notice
	  	 	81	 
	 Permits
	  	 	84	 
	 Permitted Capital Expenditures
	  	 	14	 
	 Permitted Transferee
	  	 	47	 
	 Permitted Transferee Assignee
	  	 	48	 
	 Plan Check Drawings
	  	 	84	 
	 Post-Delivery BSC Work
	  	 	6	 
	 Premises
	  	 	4	 
	 Prepaid First Month’s Rent
	  	 	11	 
	 Prime +2% Rate
	  	 	13	 
	 Project
	  	 	5	 
	 Project Operating Expenses
	  	 	14	 
	 Proposition 13
	  	 	19	 
	 Proposition 13 Protection Amount
	  	 	21	 
	 Proposition 13 Purchase Price
	  	 	21	 
	 Protection Period
	  	 	20	 
	 Rating Agencies
	  	 	57	 
	 Reassessment
	  	 	20	 
	 Record Set
	  	 	89	 
	 Refusal Notice
	  	 	81	 
	 Renovations
	  	 	70	 
	 Rent
	  	 	12	 
	 Rent Abatement
	  	 	11	 
	 Rent Abatement Period
	  	 	11	 
	 Required Parking Passes
	  	 	3	 
	 Review Period
	  	 	25	 
	 S&P
	  	 	57	 
	 Secured Areas
	  	 	63	 
	 Self Help Notice
	  	 	35	 
	 Sick Building
	  	 	29	 

  
 v 

					
	 SNDA
	  	 	50	 
	 Space Plan Delivery Date
	  	 	79	 
	 Specialty Alterations
	  	 	35	 
	 Statement
	  	 	22	 
	 Subject Space
	  	 	44	 
	 Submittal Date
	  	 	80	 
	 Substantial Nuisance
	  	 	55	 
	 Summary
	  	 	1	 
	 Superior Holders
	  	 	50	 
	 Supplemental HVAC Equipment
	  	 	32	 
	 Tax Expenses
	  	 	19	 
	 Tax Increase
	  	 	20	 
	 TCCs
	  	 	4	 
	 Tenant
	  	 	1	 
	 Tenant Change
	  	 	84	 
	 Tenant Energy Use Disclosure
	  	 	72	 
	 Tenant Improvement Allowance
	  	 	78	 
	 Tenant Improvement Allowance Items
	  	 	79	 
	 Tenant Improvements
	  	 	78	 
	 Tenant Parties
	  	 	37	 
	 Tenant Work Letter
	  	 	5	 
	 Tenant’s Agents
	  	 	85	 
	 Tenant’s Contractor
	  	 	85	 
	 Tenant’s Dogs
	  	 	55	 
	 Tenant’s Security System
	  	 	30	 
	 Tenant’s Share
	  	 	22	 
	 Termination
	  	 	9	 
	 Termination Date
	  	 	9	 
	 Termination Fee
	  	 	10	 
	 Termination Notice
	  	 	10	 
	 Termination Option
	  	 	9	 
	 Transfer Notice
	  	 	44	 
	 Transfer Premium
	  	 	46	 
	 Transferee
	  	 	44	 
	 Transfers
	  	 	44	 
	 Underlying Documents
	  	 	14	 
	 Ventilation for Acceptable Indoor Air Quality
	  	 	28	 

  

  
 vi 

 2834 COLORADO AVENUE 

OFFICE LEASE 
 This
Office Lease (the “Lease”), dated as of the date set forth in Section 1 of the Summary of Basic Lease Information (the “Summary”), below, is made by and between 2834 COLORADO AVENUE, LLC, a
Delaware limited liability company (“Landlord”), and FIGS INC., a Delaware corporation (“Tenant”). 

SUMMARY OF BASIC LEASE INFORMATION 
  

			
	TERMS OF LEASE	  	DESCRIPTION
		
	 1.  Date:
	  	November 26, 2018
		
	 2.  Premises (Article 1).
	  	
		
	 2.1  Building:
	  	That certain four (4)-story building commonly known as the “Shift Building” and currently located at 2834 Colorado Avenue, Santa Monica, California, including all walkways, plazas,
patios and parking areas. Landlord and Tenant hereby agree that the Building contains a total rentable area of approximately 139,298 rentable square feet.
		
	 2.2  Premises:
	  	Approximately 26,118 rentable square feet of space on the ground floor of the Building, as further set forth in Exhibit A to this Lease; provided, however, notwithstanding the foregoing, except to
the extent expressly provided herein, Tenant shall not have any rights to the roof, exterior walls, Building systems or utility raceways of the Building.
		
	 2.3  Project:
	  	That certain project containing approximately 200,215 rentable square feet of space, commonly known as “Santa Monica Gateway” and consisting of two (2) buildings (including the Building) located in Santa Monica,
California, as further set forth in Section 1.1.2 of this Lease.

  
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	3. Lease Term (Article 2).	  	
		
	 3.1  Length of Term:
	  	The period from the “Lease Commencement Date” (as defined in Item 3.2 below) until the Lease Expiration Date.
		
	 3.2  Lease Commencement Date:
	  	The earlier of: (i) the date Tenant first commences to conduct business operations from the Premises (i.e., not merely preparing the Premises for the conduct of business [such as installing fixtures or storing equipment]), and
(ii) August 15, 2019.
		
	 3.3  Lease Expiration Date:
	  	The last day of the month which is one hundred twenty-five (125) calendar months following the Lease Commencement Date.
		
	 3.4  Option Term:
	  	Two (2) options for five (5) years each to extend the Lease Term, as more particularly set forth in Section 2.2 of this Lease.
		
	 4.  Base Rent (Article 3):
	  	

  

									
	 Period During

Lease Term
	  	Monthly Base
Rental Rate Per
Rentable Square Foot	 	  	Monthly Installment
of Base Rent*	 
	 Lease Year 1
	  	$	5.75	 	  	$	150,178.50	** 
	 Lease Year 2
	  	$	5.95	 	  	$	155,402.10	 
	 Lease Year 3
	  	$	6.16	 	  	$	160,886.88	 
	 Lease Year 4
	  	$	6.38	 	  	$	166,632.84	 
	 Lease Year 5
	  	$	6.60	 	  	$	172,378.80	 
	 Lease Year 6
	  	$	6.83	 	  	$	178,385.94	 
	 Lease Year 7
	  	$	7.07	 	  	$	184,654.26	 
	 Lease Year 8
	  	$	7.32	 	  	$	191,183.76	 
	 Lease Year 9
	  	$	7.57	 	  	$	197,713.26	 
	 Lease Year 10
	  	$	7.84	 	  	$	204,765.12	 
	 Lease Year 11
	  	$	8.11	 	  	$	211,816.98	 

 The foregoing Base Rent schedule shall be subject to adjustment upon confirmation of the rentable square footage of the
Premises as set forth in Section 1.1.4 of the Lease. Pursuant to the terms of Article 28, below, in addition to the foregoing Base Rent, Tenant shall also be responsible for paying to Landlord, as
additional Base Rent, an amount equivalent to the parking charges that Tenant would otherwise be responsible for based on the number of spaces Tenant is obligated to rent under Article 28, below, at the Building’s then
posted parking rates (with the allocation between reserved and unreserved spaces to be based on the number of reserved and unreserved spaces allocated to Tenant), including any applicable taxes that are assessed with respect thereto. 

  
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	*	 Notwithstanding the foregoing Base Rent schedule (exclusive of parking charges), with respect to the
first month of each of the successive five (5) calendar quarters following the Lease Commencement Date (the “Abated Months”), Tenant’s obligation to pay the Monthly Installment of Base Rent shall be abated for the first
month of each such calendar quarter pursuant to the terms of Section 3.2 of the Lease (for illustration purposes only, if the Lease Commencement Date occurs on August 1, 2019, then Tenant shall have no obligation to
pay Base Rent with respect to the following calendar months: October 2019, January 2020, April 2020, July 2020, and October 2020). 

	**	 Notwithstanding the foregoing Base Rent schedule (exclusive of parking charges), during the initial ten
(10) months of the Lease Term, Tenant shall only be responsible for paying Base Rent with respect to 18,000 rentable square feet of the Premises, in the amount of One Hundred Three Thousand Five Hundred Dollars ($103,500.00) per month (i.e.,
the product of 18,000 rentable square feet and $5.75 per rentable square foot). 

  

			
	 5.  Base Year (Article 4):
	  	Calendar year 2019
		
	 6.  Tenant’s Share of the Building (Article 4):
	  	18.56%
		
	 7.  Tenant’s Share of the Project (Article 4):
	  	Approximately 13.04% (based upon the Premises containing approximately 26,118 rentable square feet of space and the Project containing approximately 200,215 rentable square feet of space), subject to adjustment as set forth in
Section 1.1.4 of this Lease.
		
	 8.  Permitted Use (Article 5):
	  	General office and studio production operations, subject to the terms and conditions set forth in Section 5.1 of the Lease.
		
	 9.  Security Deposit (Article 22):
	  	Letter of Credit in the amount of $1,900,000
		
	 10.  Parking Pass Ratio (Article 28):
	  	Tenant shall be obligated to lease three (3) unreserved parking passes for every 1,000 rentable square feet of the Premises (the “Required Parking Passes”). Tenant shall have the right, but not the obligation,
to lease an additional 5 unreserved parking pass for every 1,000 rentable square feet of the Premises, upon the terms and conditions and at the rates provided in Article 28
hereof.

  
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	 11.  Address of Tenant (Section 29.18):
	  	 Prior to the Lease Commencement Date:
  

Figs, Inc.
 11390 W Olympic Blvd, Suite 350

Los Angeles, California 90064
 Attention: Catherine Spear

 
 Following the Lease Commencement Date:

 
 At the Premises

Attention: Catherine Spear
  

With at all times a copy to:
  

Sheppard, Mullin, Richter & Hampton LLP
 333 South Hope
Street, 43rd Floor
 Los Angeles, California 90071
 Attention:
Pamela L. Westhoff

		
	 11.  Address of Landlord (Section 29.18):
	  	See Section 29.18 of the Lease.
		
	 12.  Brokers (Section 29.24):
	  	 LPC West, Inc. (for Landlord)
 CBRE, INC. (for
Tenant)

		
	 13.  Tenant Improvement Allowance (Exhibit B):
	  	An amount equal to $75.00 per rentable square foot of the Premises.

  
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 ARTICLE 1 

PREMISES, BUILDING, PROJECT, AND COMMON AREAS 

1.1 Premises, Building, Project and Common Areas. 

1.1.1 The Premises. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the premises set forth in
Section 2.2 of the Summary (the “Premises”). The outline of the Premises is set forth in Exhibit A attached hereto and the Premises has the number of
rentable square feet as set forth in Section 2.2 of the Summary. The parties hereto agree that the lease of the Premises is upon and subject to the terms, covenants and conditions (“TCCs”) herein set forth,
and Tenant covenants as a material part of the consideration for this Lease to keep and perform each and all of such terms, covenants and conditions by it to be kept and performed and that this Lease is made upon the condition of such performance.
The parties hereto hereby acknowledge that the purpose of Exhibit A is to show the location of the Premises in the “Building,” as that term is defined in
Section 1.1.2, below, only, and such Exhibit is not meant to constitute an agreement, representation or warranty as to the construction of the Premises, the precise area thereof or the specific location of the
“Common Areas,” as that term is defined in Section 1.1.3, below, or the elements thereof or of the accessways to the Premises or the “Project,” as that term is defined in
Section 1.1.2, below. It is understood and agreed that Landlord shall have no right to relocate Tenant to other space in the Project at any time during the Lease Term or Option Terms. Except as specifically set forth in
this Lease and in the Tenant Work Letter attached hereto as Exhibit B (the “Tenant Work Letter”), subject to the express TCCs of this Lease, including but not limited to
Landlord’s ongoing maintenance and repair obligations, Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Premises. Tenant also acknowledges that neither Landlord nor any
agent of Landlord has made any representation or warranty regarding the condition of the Premises, the Building or the Project or with respect to the suitability of any of the foregoing for the conduct of Tenant’s business, except as
specifically set forth in this Lease and the Tenant Work Letter. 
 1.1.2 The Building and the Project. The Premises are a part
of the building set forth in Section 2.1 of the Summary (the “Building”). The Building is one (1) of two (2) buildings located at the Project. The term “Project,” as used in
this Lease, shall mean (i) the Building and the Common Areas, (ii) the other building located immediately south adjacent to the Building (the “Adjacent Building”), (iii) the land consisting of approximately 1.76 acres
(which may be improved with landscaping, parking facilities and other improvements) upon which the Building, the Adjacent Building, and the Common Areas are located, consisting of an aggregate of approximately 200,215 rentable square feet (subject
to adjustment from time to time by Landlord), and (iv) at Landlord’s discretion, any additional real property, areas, land, buildings or other improvements added thereto outside of the Project. 

1.1.3 Common Areas. Tenant shall have the non-exclusive right to use in common with other
tenants in the Project, and subject to the rules and regulations referred to in Article 5 of this Lease, those portions of the Project which are provided, from time to time, for use in common by Landlord, Tenant and any
other tenants of the Project (such areas, together with such other portions of the Project designated by Landlord, in its discretion, including certain areas designated to be shared by Landlord and certain tenants, are collectively referred to
herein as the 

  
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“Common Areas”). The manner in which the Common Areas are maintained and operated shall be at the reasonable discretion of Landlord (but shall at least be consistent with the
provision of Article 7 below and the manner in which the common areas of the “First Class Buildings,” as defined in Section 6.1 below, are maintained and operated) and the use
thereof shall be subject to such reasonable rules, regulations and restrictions as Landlord may make from time to time. Landlord reserves the right to close temporarily, make alterations or additions to, or change the location of elements of the
Project and the Common Areas, provided that, in connection therewith, Landlord shall perform such closures, alterations, additions or changes in a commercially reasonable manner and, in connection therewith, shall use commercially reasonable efforts
to minimize any material interference with Tenant’s use of and access to the Premises. Any such closures, alterations or additions will be subject to the terms of Section 19.5.2 below. 

1.1.4 Intentionally Omitted. 

1.1.5 Delivery. 

1.1.5.1 Concurrently with the mutual execution and delivery of this Lease, Landlord shall deliver to Tenant the base, shell and core of the
Premises (collectively, the “Base, Shell and Core”), in good working condition and, without reference to any tenant improvements to be constructed in the Premises, in compliance with Applicable Laws (as that term is defined in
Article 24 below). Notwithstanding the foregoing, for purposes of this Section 1.1.5, the Base, Shell and Core shall not include the common corridor and demising wall to separate the Premises from
the adjacent coffee store (the “Post-Delivery BSC Work”). Landlord agrees to complete the Post-Delivery BSC Work as soon as commercially
reasonable following the delivery of the Premises to Tenant and in a manner that does not materially delay the completion by Tenant of its Tenant Improvements in the Premises. 

1.1.5.2 Notwithstanding the foregoing, if Tenant determines that the Base, Shell and Core were not in good condition or were not in compliance
with Applicable Laws, rules and regulations as of the Lease Commencement Date, or if it is determined that there exist any defects in the Base, Shell and Core and such non-compliance or defects are not due to
the tenant improvements constructed in the Premises or Tenant’s particular use of, or activities or work in, the Premises, Landlord shall remedy such defects or correct such non-compliance at
Landlord’s cost within a commercially reasonable time after Landlord’s receipt of written notice thereof (provided that such notice must be received within one hundred eighty (180) days following the Lease Commencement Date).
Furthermore, to the extent of the number of days of delay in both the Substantial Completion (as that term is defined in Article 4 of the Tenant Work Letter) of the Tenant Improvements and the ability of Tenant to conduct
business from the Premises caused by such failure (each such day of delay to herein be referred to as an “Impact Day of Delay”), Tenant shall be entitled to a credit of one (1) day of Base Rent for each Impact Day of Delay.

  
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 ARTICLE 2 

LEASE TERM 
 2.1
Lease Term. The TCCs and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the
Summary, shall commence on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”), and shall terminate on the date set forth in Section 3.3 of the Summary
(the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date, then, except as expressly set
forth in this Lease, Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease
Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first
anniversary of the Lease Commencement Date occurs (or if such Lease Commencement Date is the first day of a calendar month, then the first Lease Year shall commence on such Lease Commencement Date and end on the day immediately preceding the first
anniversary of such Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Lease Expiration Date. At any time
during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall
execute and return to Landlord within fifteen (15) business days of receipt thereof; provided, however, that if such notice is not factually correct, then Tenant shall make such changes as are necessary to make such notice factually correct and
shall thereafter return such notice to Landlord within said fifteen (15) business day period. Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in
such notice is as specified therein. 
 2.2 Option Terms. 

2.2.1 Option Right. Landlord hereby grants to the Original Tenant, any Affiliate of Tenant, and any Permitted Transferee
Assignee, two (2) options to extend the Lease Term for a period of five (5) years each (each an “Option Term” and each such option, an “Option to Extend”). The Options to Extend shall be exercisable only
by notice delivered by Original Tenant, an Affiliate, or a Permitted Transferee Assignee, as applicable, to Landlord as provided in Section 2.2.3 below; provided that, as of the date of delivery of such notice, Tenant has
not received notice that Tenant is in Default. The rights contained in this Section 2.2 shall be personal to the Original Tenant, any Affiliate, and any Permitted Transferee Assignee and may only be exercised by the
Original Tenant, an Affiliate, or a Permitted Transferee Assignee (and not any other assignee or sublessee or Transferee of Tenant’s interest in this Lease) provided that the Original Tenant, the Affiliate, or such Permitted Transferee Assignee
has not subleased more than fifty percent (50%) of the rentable square footage of the Premises pursuant to a sublease or subleases then in effect. In the event that Tenant (or any Affiliate or Permitted Transferee Assignee) fails to timely and
appropriately exercise its Option to Extend in accordance with the terms of this Section 2.2, then such Option to Extend shall automatically terminate and shall be of no further force or effect. 

2.2.2 Option Rent. The Rent payable by Tenant during each Option Term shall be equal to one hundred percent (100%) of the Market
Rent, as such Market Rent is determined pursuant to Exhibit F, attached to this Lease (such rent payable during each Option Term, the “Option Rent”) and the Base Year for each Option
Term shall be the calendar year immediately preceding the calendar year in which such Option Term commences. Except as set 

  
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forth in the preceding sentence or as otherwise expressly set forth in this Lease, all of the terms of this Lease shall apply during the applicable Option Term and the Lease Expiration Date shall
be extended to the last day of the applicable Option Term. The calculation of the “Market Rent” shall be derived from a review of, and comparison to, the “Net Equivalent Lease Rates” of the “Comparable
Transactions,” as provided for in Exhibit F. 
 2.2.3 Exercise of Options.
An Option to Extend shall be exercised by Tenant, if at all, and only in the following manner: (i) Tenant shall deliver written notice (the “Option Interest Notice”) to Landlord not more than ten (10) months nor less than
seven (7) months prior to the expiration of the initial Lease Term, stating that Tenant is interested in exercising its Option to Extend; (ii) Landlord shall, within thirty (30) days following Landlord’s receipt of the
Option Interest Notice, deliver notice (the “Option Rent Notice”) to Tenant setting forth Landlord’s good faith determination of the Option Rent; and (iii) if Tenant wishes to exercise such option for the applicable Option
Term, Tenant shall, on or before the date occurring thirty (30) days after Tenant’s receipt of the Option Rent Notice for the applicable Option Term, deliver written notice thereof to Landlord, and upon, and concurrent with, such
exercise, Tenant may, at its option, accept or reject the Option Rent set forth in the Option Rent Notice. If Tenant exercises its option to extend the Lease for the applicable Option Term but fails to accept or reject the Option Rent set forth in
the Option Rent Notice for the applicable Option Term, then Tenant shall be deemed to have rejected the Option Rent set forth in the Option Rent Notice for the applicable Option Term. 

2.2.4 Determination of Option Rent. In the event Tenant timely and appropriately exercises its Option to Extend, but rejects (or
is deemed to reject) the Option Rent set forth in the Option Rent Notice pursuant to Section 2.2.3, above, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best
good-faith efforts. If Landlord and Tenant fail to reach agreement upon the Option Rent on or before the date that is sixty (60) days prior to the expiration of the Lease Term (the “Outside
Agreement Date”), then the Option Rent shall be determined by arbitration pursuant to the terms of this Section 2.2.4. Each party shall make a separate determination of the Option Rent, within five (5) days
following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.4.1 through 2.2.4.4, below. 

2.2.4.1 Landlord and Tenant shall each appoint one arbitrator who shall by profession be a MAI appraiser who shall have been active over the
ten (10) year period ending on the date of such appointment in the appraising of first class commercial office properties in Santa Monica, California, and who shall not (i) have previously represented either party or either party’s
affiliates during the prior ten (10) year period or (ii) been paid a commission by either party during the prior ten (10) year period. The determination of the arbitrators shall be limited solely to the issue area of whether
Landlord’s or Tenant’s submitted Option Rent is the closest to the actual Option Rent as determined by the arbitrators, taking into account the requirements of Section 2.2.2 of this Lease. Each such arbitrator
shall be appointed within fifteen (15) days after the Outside Agreement Date. Landlord and Tenant may consult with their selected arbitrators prior to appointment and may select an arbitrator who is favorable to their respective positions
(including an arbitrator who has previously represented Landlord and/or Tenant, as applicable). The arbitrators so selected by Landlord and Tenant shall be deemed “Advocate Arbitrators.” 

  
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 2.2.4.2 The two (2) Advocate Arbitrators so appointed shall within ten (10) days
of the date of the appointment of the last Advocate Arbitrator agree upon and appoint an independent third arbitrator who shall be qualified under the same criteria set forth hereinabove for qualification of the initial two (2) arbitrators.

 2.2.4.3 The three (3) arbitrators shall within thirty (30) days of the appointment of the third arbitrator reach a decision as
to whether the parties shall use Landlord’s or Tenant’s submitted Option Rent and shall notify Landlord and Tenant thereof. 

2.2.4.4 The decision of the majority of the three (3) arbitrators shall be binding upon Landlord and Tenant. 

2.2.4.5 If either Landlord or Tenant fails to appoint an Advocate Arbitrator within fifteen (15) days after the Outside Agreement Date,
then the Advocate Arbitrator appointed by one of them shall reach a decision, notify Landlord and Tenant thereof, and such Advocate Arbitrator’s decision shall be binding upon Landlord and Tenant. 

2.2.4.6 If the two (2) Advocate Arbitrators fail to agree upon and appoint a third arbitrator, or if both parties fail to appoint an
arbitrator, then the appointment of the third arbitrator or any arbitrator shall be dismissed and the matter to be decided shall be forthwith submitted to arbitration under the provisions of the American Arbitration Association, but subject to the
instruction set forth in this Section 2.2.4. 
 2.2.4.7 The cost of the arbitration shall be paid by Landlord and
Tenant equally; provided that Tenant shall pay the cost of its Appointed Arbitrator, Landlord shall pay the cost of its Appointed Arbitrator, and Landlord and Tenant shall each pay one half (1/2) of the fees of the third arbitrator. 

2.3 Construction Entry. Concurrently with the mutual execution and delivery of this Lease, Landlord shall deliver the Premises to
Tenant for the commencement by Tenant of its tenant improvement work therein. Notwithstanding the foregoing, in no event shall Tenant enter the Premises until such time as Tenant has provided Landlord with evidence that Tenant has fulfilled its
obligation to provide insurance pursuant to the provisions of this Lease. Such early entry in and of itself will not advance the Lease Commencement Date unless Tenant commences to conduct business from the Premises. All of the provisions of this
Lease shall apply to Tenant and Landlord during any early entry, including, without limitation, the indemnities set forth in this Lease, but excluding Tenant’s obligation to pay any Rent, parking costs, or utility costs, until the Lease
Commencement Date has occurred, whereupon such obligations shall immediately commence. Tenant shall be obligated to reimburse Landlord for all actual costs incurred by Landlord in connection with security or other measures incurred by Landlord in
order to accommodate Tenant’s construction schedule or efforts. During any such early entry, Landlord shall not be responsible for any loss, including theft, damage or destruction to any work or material installed or stored by Tenant at the
Premises or for any injury to Tenant or its agents, employees, contractors, subcontractors, subtenants, assigns, licensees or invitees. Landlord shall have the right to post appropriate notices of
non-responsibility in connection with any early entry by Tenant. 

  
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 2.4 Termination Option. Subject to the terms and conditions set forth in
this Section 2.4, Tenant shall have the one-time option (the “Termination Option”) to terminate this Lease with respect to the entire Premises (the
“Termination”), effective as of the last day of the seventh (7th) full calendar year that follows the Lease Commencement Date (the “Termination Date”) only (but
on no other date) (for illustration purposes only, if the Lease Commencement Date occurs on August 1, 2019, then the Termination Date shall be July 31, 2026), upon the following terms and conditions (if the following terms and conditions
are not timely and completely satisfied, then, at Landlord’s option, the Termination Option shall be null and void with no further force and effect): 

2.4.1 Tenant shall give Landlord written notice (the “Termination Notice”) of Tenant’s unconditional and irrevocable
election to exercise the Termination Option at least nine (9) months prior to the Termination Date (time being of the essence). 
 2.4.2
There shall exist no event of Default under the Lease (beyond the expiration of any applicable notice and cure periods set forth in this Lease) on the date Landlord receives the Termination Notice or on the Termination Date (provided that either of
such conditions may be waived by Landlord in Landlord’s sole and absolute discretion). 
 2.4.3 Tenant shall pay to Landlord an amount
equal to the Termination Fee (defined below) in immediately available funds on or before the Termination Date (time being of the essence). The “Termination Fee” shall mean the unamortized Leasing Costs (defined below) as of the
Termination Date, as determined by Landlord, based upon an amortization period from the Lease Commencement Date until the Expiration Date (amortized with interest at five percent (5%) per annum) plus six (6) months of Base Rent (including
parking charges) for the 6-month period immediately following the Termination Date. The term “Leasing Costs” shall mean the sum of (x) all brokerage commissions paid by Landlord in
connection with this Lease with respect to the entire Premises, plus (y) the Tenant Improvement Allowance, plus (z) the amount of the Rent Abatement (as defined in Section 3.2 below). If Tenant does not timely pay
the Termination Fee to Landlord as set forth herein then, at Landlord’s option, in addition to all other rights and remedies of Landlord, (A) the Termination Option (and Termination Notice) shall be null and void with no force and effect,
and this Lease shall continue in full force and effect as if Tenant had not elected to terminate this Lease, and/or (B) Landlord may treat the same as an event of Default under this Lease and Landlord may pursue all of its available rights and
remedies in connection therewith. 
 2.4.4 In the event Tenant timely and properly exercises the Termination Option, the Lease shall
terminate effective as of the Termination Date, and Base Rent and all other monetary obligations under the Lease shall be paid through and apportioned as of the Termination Date, and neither Landlord nor Tenant shall have any rights, liabilities or
obligations accruing under the Lease after the Termination Date, except for such rights and liabilities which, by the terms of the Lease are obligations of the Tenant or Landlord which expressly survive the expiration of the Lease. 

2.4.5 Notwithstanding the foregoing or anything to the contrary herein, the Termination Option shall automatically terminate and become null
and void upon (i) the failure of Tenant to timely or properly exercise the Termination Option (unless such condition is waived in writing by Landlord in its sole and absolute discretion); or (ii) Tenant’s right to possession of the
Premises being terminated prior to the exercise of the Termination Option. 

  
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 2.4.6 The Termination Option shall be personal to the Original Tenant and any Affiliate of
Tenant to whom this Lease has been assigned and may be exercised only by the Original Tenant and any Affiliate of Tenant to whom this Lease has been assigned while occupying the entire Premises, and may not be exercised or be assigned, voluntarily
or involuntarily, by or to any person or entity other than the Original Tenant and any Affiliate of Tenant to whom this Lease has been assigned. 

ARTICLE 3 

BASE RENT 
 3.1
Base Rent. Commencing on the Lease Commencement Date (as the same may be delayed by the provisions of Section 1.1.4 above), Tenant shall pay, without prior notice or demand, to Landlord or
Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a check for currency which, at the time of payment, is legal tender for
private or public debts in the United States of America, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in
Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever except as expressly set forth elsewhere in this Lease. It is
acknowledged and agreed that during the initial ten (10) months of the Lease Term, Tenant shall only be responsible for paying Base Rent with respect to 18,000 rentable square feet of the Premises, in the amount set forth in
Section 4 of the Summary. The Base Rent for the first full month of the Lease Term shall be paid within thirty (30) days of Tenant’s execution of this Lease (the “Prepaid First Month’s
Rent”) and shall be applied to the first payment(s) of Base Rent owing hereunder until fully utilized. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if
any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall be prorated based on the number of days in each fractional month at issue. All other payments or adjustments required to be made under the
terms of this Lease that require proration on a time basis shall be prorated on the same basis. 
 3.2 Abated Base Rent.
Provided that Tenant is not then in Default, then during the Abated Months (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises (exclusive of parking charges)
during such Rent Abatement Period (the “Rent Abatement”). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay
the rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to
terms and conditions of the Lease, or if this Lease is terminated for any reason as a result of such default, then the dollar amount of the unapplied portion of the Rent Abatement as of the date of such default or termination, as the case may be,
shall be converted to a credit to be applied to the Base Rent applicable at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. 

  
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 ARTICLE 4 

ADDITIONAL RENT 

4.1 General Terms. In addition to paying the Base Rent specified in Article 3 of this Lease, Tenant
shall pay, following the Lease Commencement Date, the amount by which “Tenant’s Share” of the annual “Direct Expenses,” as those terms are defined in Sections 4.2.9 and 4.2.2 of this Lease,
exceeds Tenant’s Share of the amount of Direct Expenses applicable to the “Base Year,” as that term is defined in Section 4.2.1, below; provided, however, that in no event shall any decrease in Direct
Expenses for any Expense Year, as that term is defined in Section 4.2.3 below, below Direct Expenses for the Base Year entitle Tenant to any decrease in Base Rent or any credit against sums due under this Lease; provided
further that Tenant shall have no obligation to pay for any Operating Expenses attributable to the initial twelve (12) months of the Lease Term. Such payments by Tenant, together with any and all other amounts payable by Tenant to Landlord
pursuant to the terms of this Lease, are hereinafter collectively referred to as the “Additional Rent”, and the Base Rent and the Additional Rent are herein collectively referred to as “Rent.” All amounts due under
this Article 4 as Additional Rent shall be payable for the same periods and in the same manner as the Base Rent. Without limitation on other obligations of Tenant which survive the expiration of the Lease Term, the
obligations of Tenant to pay the Additional Rent and of Landlord to reconcile and reimburse Tenant for overpayments of Additional Rent provided for in this Article 4 shall survive the expiration of the Lease Term. 

4.2 Definitions of Key Terms Relating to Additional Rent. As used in this Article 4, the following
terms shall have the meanings hereinafter set forth: 
 4.2.1 “Base Year” shall mean the period set forth in
Section 5 of the Summary. 
 4.2.2 “Direct Expenses” shall mean “Operating Expenses” and
“Tax Expenses.” 
 4.2.3 “Expense Year” shall mean each calendar year in which any portion of the Lease Term
falls, through and including the calendar year in which the Lease Term expires. 
 4.2.4 “Operating Expenses” shall mean all
expenses, costs and amounts which Landlord pays or accrues during any Expense Year because of or in connection with the ownership, management, maintenance, security, repair, or operation of the Building, the Project, or any portion thereof, subject
to the exclusions from Operating Expenses set forth herein. Without limiting the generality of the foregoing, Operating Expenses shall specifically include any and all of the following actually paid or accrued by Landlord: (i) the cost of
supplying all utilities to the Building (to the extent that such utilities are not paid directly by Tenant), the cost of operating, repairing, or maintaining the utility, telephone, mechanical, sanitary, storm drainage, and elevator systems, and the
cost of maintenance and service contracts in connection therewith; (ii) the cost of licenses, certificates, permits and inspections and the cost of contesting any governmental 

  
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enactments which may affect Operating Expenses, and the costs incurred in connection with a governmentally-mandated transportation system management
program or similar program or any transportation system management program or similar program in which Tenant participates or is provided the opportunity to participate; (iii) the cost of all insurance carried by Landlord in connection with the
Project (including, without limitation, commercial general liability insurance, physical damage insurance covering damage or other loss caused by fire, earthquake, flood and other water damage, explosion, vandalism and malicious mischief, theft or
other casualty, rental interruption insurance and such insurance as may be required by any lessor under any present or future ground or underlying lease of the Building or the Project or any holder of a mortgage, trust deed or other encumbrance now
or hereafter in force against the Building or the Project or any portion thereof); (iv) the cost of landscaping, relamping, and all supplies, tools, equipment and materials used in the operation, repair and maintenance of the Project, or any portion
thereof; (v) costs incurred in connection with the parking areas servicing the Project; (vi) fees and other costs, including management fees (not to exceed three percent (3%) of all gross receipts for the Building (as fully grossed up for
a 95% occupancy level), consulting fees, legal fees (subject to exclusion (u) below) and accounting fees (related to the Operating Expenses), of all contractors and consultants incurred by Landlord in connection with the management, operation,
maintenance and repair of the Project; (vii) payments under any equipment rental agreement; (viii) the fair rental value of any management office space (provided, however, that if and to the extent that the personnel in such
management office perform management responsibilities for other properties in addition to the Project, then the rental value of such management office shall be equitably allocated between the Project and such other properties; provided
further, however, upon request from Tenant not more than once in any twelve (12) month period, Landlord shall inform Tenant of any personnel in such management office that performs management responsibilities for other properties in
addition to the Project); (ix) wages, salaries and other compensation and benefits, including taxes levied thereon, of all persons engaged in the operation, maintenance and/or security of the Project (other than persons generally considered to be
higher in rank than the position of “the Project General Manager”), provided that in no event shall staffing levels or salaries exceed those typical in the First Class Buildings for the services provided hereunder unless
otherwise approved by Tenant in writing; (x) costs under any instrument pertaining to the sharing of costs by the Project; (xi) operation, repair, maintenance and, subject to the limitation set forth clause (xiv) below, replacement of
all systems and equipment and components thereof of the Building; (xii) the cost of alarm, security and other services, the cost of janitorial services provided to Common Areas (to the extent not paid for directly by Tenant), and subject to the
limitation set forth clause (xiv) below, the cost of replacement of ceiling tiles and fixtures in Common Areas, maintenance and replacement of curbs and walkways, and repair to roofs; (xiii) amortization (including interest on the
unamortized cost at an interest rate (the “Prime +2% Rate”) equal to the floating commercial loan rate announced from time to time by Wells Fargo Bank, or its successor, as its prime rate, plus two percent (2%) (the “Prime
+2% Rate”) over the useful life as Landlord shall reasonably determine, using generally accepted accounting principles, consistently applied, of the cost of acquiring or the rental expense of personal property used in the maintenance,
operation and repair of the Project, or any portion thereof; (xiv) the cost of capital improvements, replacements or other capital costs incurred in connection with the Project following completion of the initial construction thereof and the
date all building systems are fully operational (A) which are reasonably intended by Landlord, based upon qualified third party advice, to effect savings in the operation, cleaning or maintenance of the Project, or any portion thereof, or to
reduce current 

  
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or future Operating Expenses to the extent of cost savings (“Cost Saving Capital Expenditures”), (B) which are intended for enhancing the safety and security of the Project and
its occupants, to the extent such improvements are consistent with the practices of landlords of the First Class Building, or (C) that are required under any governmental law or regulation first enacted or which first became effective
following the date hereof (the costs described in clauses (xiii) and (xiv)(A), (B) and (C) being referred to collectively as “Permitted Capital Expenditures”); provided, however, that the cost of Permitted Capital
Expenditures shall (subject to the limitation set forth above with respect to Landlord’s ability to pass through the cost of Cost Saving Capital Expenditures) be amortized with interest at the Prime +2% Rate over the useful life of the capital
item in question, in accordance with sound generally accepted accounting principles; (xv) costs, fees, charges or assessments imposed by, or resulting from any mandate imposed on Landlord by, any federal, state or local government for fire and
police protection, trash removal, community services, or other services which do not constitute “Tax Expenses” as that term is defined in Section 4.2.7, below; and (xvi) payments under any easement, license,
operating agreement, declaration, restrictive covenant, or instrument pertaining to the sharing of costs by Landlord with respect to the Building, including, without limitation, any covenants, conditions and restrictions affecting the Project, and
reciprocal easement agreements affecting the Project, any parking licenses, and any agreements with transit agencies affecting the Project (collectively, “Underlying Documents”). 

4.2.5 “Building Operating Expenses” shall mean Operating Expenses relating exclusively to the repair, maintenance,
replacement, and operation of the Building. 
 4.2.6 “Project Operating Expenses” shall mean all Operating Expenses other
than Building Operating Expenses. 
 4.2.7 Notwithstanding the foregoing, for purposes of this Lease, the following items shall be excluded
from Operating Expenses: 
 (a) cost of repairs or other work incurred by reason of fire, windstorm or other casualty or by the exercise of
the right of eminent domain to the extent Landlord is compensated through proceeds or insurance or condemnation awards, or would have been so reimbursed if Landlord had in force all of the insurance required to be carried by Landlord under this
Lease; 
 (b) except as otherwise provided below, the cost and expense of correcting defects in the construction of the Project or repairs
that are covered by warranties; 
 (c) costs, including fines or penalties, incurred due to a violation of Applicable Laws in force and
effect as of the Lease Commencement Date relating to the Project, but not including on-going recurring compliance costs (by way of example only, costs to comply with an existing Applicable Law requiring
periodic elevator maintenance, or related to fire-extinguisher inspections, shall be included in Operating Expenses); 

(d) costs incurred due to the presence of Hazardous Substances (as defined in Section 5.2), except to the extent
caused by the release or emission thereof by Tenant; 
 (e) charitable and political contributions or reserves of any kind; 

  
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 (f) depreciation, interest and principal payments on mortgages and other debt costs, if any,
penalties and interest, and any other costs which would properly be capitalized, other than Permitted Capital Expenditures; 
 (g) fees
payable by Landlord for management of the Project to the extent in excess of the management fees being paid by landlords of the First Class Buildings, adjusted and grossed up to reflect a one hundred percent (100%) occupancy of the Project;

 (h) intentionally omitted; 

(i) Landlord’s and Landlord’s managing agent’s general corporate or partnership overhead and general administrative expenses,
and all costs associated with the operation of the business of the ownership or entity which constitutes “Landlord,” as distinguished from the costs of Building operations, management, maintenance or repair, including, but not limited to,
costs of entity accounting and legal matters, costs of any disputes with any ground lessor or mortgagee, costs of acquiring, selling syndicating, financing, mortgaging or hypothecating any of the Landlord’s interest in all or any part of the
Project and/or Common Areas; 
 (j) costs (including permit, license and inspection fees) incurred in renovating or otherwise improving or
decorating, painting or redecorating space for tenants or other occupants or in renovating or redecorating vacant space, including the cost of alterations or improvements to the Premises or to the premises of any other tenant or occupant of the
Project and any cash or other consideration paid by Landlord on account of, with respect to, or in lieu of the improvement or alteration work described herein; 

(k) costs, including, without limitation, legal fees, space planners’ fees, advertising and promotional expenses (except as otherwise set
forth above), and brokerage fees, in connection with the original construction or development, or original or future leasing of, the Project and related facilities; 

(l) Intentionally Omitted; 
 (m)
costs for which the Landlord is to be reimbursed by any tenant (other than as a reimbursement of Operating Expenses) or occupant of the Project or by insurance by its carrier or any tenant’s carrier or by anyone else (or would have been
reimbursed if Landlord had carried the insurance required to be carried by Landlord under the terms of this Lease), including, without limitation, the cost of providing any janitorial services or utilities to any other tenant’s space (or
occupiable space) in the Project and electric power costs for which any tenant directly contracts with the local public service company or for which Landlord is otherwise not obligated to pay; 

(n) costs of all items and services for which Tenant reimburses Landlord or pays to third parties or which Landlord provides selectively to one
or more tenants or occupants of the Project (other than Tenant); 
 (o) depreciation and amortization except as permitted pursuant to items
(xii) and (xiii), above; 

  
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 (p) costs incurred due to violation by Landlord or its managing agent or any tenant of the
terms and conditions of any lease; 
 (q) payments to subsidiaries or affiliates of Landlord, for management or other services in or to the
Project, or for supplies or other materials to the extent that the costs of such services, supplies, or materials exceed the costs that would have been paid had the services, supplies or materials been provided by parties unaffiliated with the
Landlord on a competitive basis; 
 (r) intentionally omitted; 

(s) any compensation and benefits paid to personnel working in or managing a food service or health club or other commercial concession
operated by Landlord or Landlord’s managing agent; 
 (t) marketing, advertising and promotional costs and cost of signs in or on the
Project identifying the owner of the Building or Project or other tenants’ signs; 
 (u) leasing commissions, attorneys’ fees,
costs and disbursements and other expenses incurred in connection with negotiations or disputes with tenants or other occupants or prospective tenants or other occupants, or associated with the enforcement of any leases or the defense of
Landlord’s title to or interest in the Project or any part thereof or Common Areas or any part thereof; 
 (v) intentionally omitted;

 (w) costs of repair or replacement for any item covered by a warranty to the extent actually covered by the warranty; 

(x) costs of which Landlord is actually reimbursed by its insurance carrier or by any tenant’s insurance carrier or by any other entity;

 (y) costs, fees, dues, contributions or similar expenses for political or charitable organizations; 

(z) bad debt loss, rent loss, or reserves for bad debt or rent loss; 

(aa) acquisition or insurance costs for sculptures, paintings, or other art; 

(bb) the wages and benefits of any employee who does not devote substantially all of his or her employed time to the Project unless such wages
and benefits are prorated to reflect time spent on operating and managing the Project vis-à-vis time spent on matters unrelated to operating and managing the
Project; 
 (cc) Tax Expenses and costs expressly excluded from Tax Expenses; 

(dd) the cost of tenant newsletters and Building promotional gifts, events or parties for existing occupants, and any costs related to the
celebration or acknowledgment of holidays in excess of costs consistent with the general practice of landlords of the First Class Buildings and any costs for parties for prospective occupants; 

  
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 (ee) costs associated with the marketing of the Building for sale or lease or the actual
sale of the Building, and costs, fees, dues, contributions or similar expenses for industry associations or similar organizations and entertainment expenses and travel expenses of Landlord, its employees, agents, partners and affiliates; 

(ff) fees payable by Landlord for management of the Project in excess of three percent (3%) (the “Management Fee Cap”) of
Landlord’s gross base rental revenues from the leasing of space in the Project, adjusted and grossed up to reflect a ninety-five percent (95%) occupancy of the Project with all tenants paying full rent
(without regard to abatement or other credits), including base rent, pass-throughs, and parking fees (but excluding the cost of after-hours services or utilities) from
the Project for any calendar year or portion thereof; 
 (gg) costs of any artwork; 

(hh) costs or fees to the extent arising from the negligence or willful misconduct of Landlord or its agents, employees, vendors, contractors,
or providers of materials or services; 
 (ii) any costs or expenses which, if included within Operating Expenses, would constitute
“double counting” or a double charge for the same item or category of expense; 
 (jj) penalties for any late payment by Landlord;

 (kk) except as provided in item (ll), below, deductibles payable by Landlord under Landlord’s insurance policies; and 

(ll) amounts (A) as a result of damage caused by earthquakes or terrorist acts, (B) which are in excess of a commercially reasonable
deductible amount with respect to same, (C) which are not allowed as Permitted Capital Expenditures, above, and (D) which are not required by Applicable Laws; provided that nothing contained in this item (ll) shall supersede, limit or
alter the terms of item (f), above, 
 4.2.7.1 Notwithstanding the foregoing, if any portion of the Premises, the Building and/or the
Project is covered by a warranty at any time during the Base Year or any subsequent Expense Year, then Operating Expenses for the Base Year and such subsequent Expense Year shall be considered to be increased by the amount that Landlord would have
incurred during the Base Year or such subsequent Expense Year with respect to the items or matters covered by the warranty had the warranty not been effective during the Base Year or such subsequent Expense Year. 

4.2.7.2 If Landlord does not carry earthquake insurance for the Building during the entire Base Year but subsequently obtains earthquake
insurance for the Building during the Lease Term, then from and after the date upon which Landlord obtains such earthquake insurance and continuing throughout the period during which Landlord maintains such insurance, Operating Expenses for the Base
Year shall be deemed to be increased by the amount 

  
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of the premium Landlord would have incurred had Landlord maintained such insurance for the same period of time during the Base Year as such insurance is maintained by Landlord during such
subsequent Expense Year. Further, Landlord shall obtain competitive pricing for earthquake insurance in each year such coverage is obtained and shall keep Tenant informed of the premium price comparisons and required coverage levels. 

4.2.7.3 If Landlord is not furnishing any particular work or service (the cost of which, if performed by Landlord, would be included in
Operating Expenses) to a tenant who has undertaken to perform such work or service in lieu of the performance thereof by Landlord, and such work or service for such tenant was included in Operating Expenses for the Base Year, then Operating Expenses
shall be deemed increased by an amount equal to the additional Operating Expenses which would reasonably have been incurred during such period by Landlord if it had at its own expense furnished such work or service to such tenant in the same manner
as was calculated and included in the Base Year. Further, if other than as a result of any legal or governmental requirements or other occurrence(s) beyond the reasonable control of Landlord following the Base Year any new category of operating
expenses is added to Operating Expenses, then during such time as the costs relating to such new category are included in the Building’s expenses, the calculation of the Operating Expenses for the Base Year shall be increased to reflect such
Operating Expenses as would have been incurred had such new category item been included in the Base Year, giving due consideration to what the costs for such new category would have been in the Base Year. 

4.2.7.4 If the Project is not fully operational and ninety-five percent (95%) leased and occupied
during all or a portion of the Base Year or any Expense Year (inclusive of the Base Year), Landlord shall make an appropriate adjustment to the components of Operating Expenses for such year to determine the amount of Operating Expenses that would
have been incurred had the Project been fully operational and ninety-five percent (95%) leased and occupied with Tenant paying full rent; and the amount so determined shall be deemed to have been the amount of
Operating Expenses for the Base Year or such Expense Year, as applicable. It is acknowledged that the foregoing gross-up calculation is necessary such that Operating Expenses for the Base Year will not be
artificially low if the Building’s use and specific occupancy is ramping up during the Base Year such that actual Base Year Operating Expenses do not reflect at least ninety-five percent (95%) use and
occupancy of the Building. In such event, monthly Operating Expenses for a period of six (6) months following the date the Building is fully occupied by Tenant will be extrapolated to calculate Base Year Operating Expenses for purposes of this
Lease. 
 4.2.7.5 Landlord shall not (1) make a profit by charging items to Operating Expenses that are otherwise also charged
separately to others, and (2) subject to Landlord’s right to adjust the components of Operating Expenses described above in this Section 4.2.4, collect Operating Expenses from Tenant and all other tenants in the
Building in an amount in excess of one hundred percent (100%) of what Landlord incurs for the items included in Operating Expenses. 

  
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 4.2.8 Taxes. 

4.2.8.1 “Tax Expenses” shall mean all federal, state, county, or local governmental or municipal taxes, fees, charges or
other impositions of every kind and nature, whether general, special, ordinary or extraordinary (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of
rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances,
furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority)
because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof. For purposes of this Lease, Tax Expenses for the Base Year and each Expense Year shall be calculated as if (i) the Project had been
fully leased, occupied and operational for the entire Base Year and/or Expense Year, as applicable, and (ii) all tenant improvements in the Project were fully constructed and fully assessed for real estate tax purposes for the entire Base Year
and/or Expense Year; and (iii) as Tenant and all other tenants in the Project were paying full rent for the entire Base Year and/or Expense Year, as applicable (disregarding any credits, abatements and offsets). 

4.2.8.2 Tax Expenses shall include, without limitation: (i) any tax on the rent, right to rent or other income from the Project, or any
portion thereof, or as against the business of leasing the Project, or any portion thereof; (ii) any assessment, tax, fee, levy or charge in addition to, or in substitution, partially or totally, of any assessment, tax, fee, levy or charge
previously included within the definition of real property tax, it being acknowledged by Tenant and Landlord that Proposition 13 was adopted by the voters of the State of California in the June 1978 election (“Proposition 13”)
and that assessments, taxes, fees, levies and charges may be imposed by governmental agencies for such services as fire protection, street, sidewalk and road maintenance, refuse removal and for other governmental services formerly provided without
charge to property owners or occupants, and, in further recognition of the decrease in the level and quality of governmental services and amenities as a result of Proposition 13, Tax Expenses shall also include any governmental or private
assessments or the Project’s contribution towards a governmental or private cost-sharing agreement for the purpose of augmenting or improving the quality of services and amenities normally provided by
governmental agencies; (iii) any assessment, tax, fee, levy, or charge allocable to or measured by the area of the Premises or the Rent payable hereunder, including, without limitation, any business or gross income tax or excise tax with
respect to the receipt of such rent, or upon or with respect to the possession, leasing, operating, management, maintenance, alteration, repair, use or occupancy by Tenant of the Premises, or any portion thereof; (iv) any assessment, tax, fee,
levy or charge, upon this transaction or any document to which Tenant is a party, creating or transferring Tenant’s interest or Tenant’s estate in the Premises; and (v) all of the real estate taxes and assessments imposed upon or with
respect to the Building and all of the real estate taxes and assessments imposed on the land and improvements comprising the Project. 

4.2.8.3 Tax refunds (net of all costs incurred by Landlord in connection with obtaining such refund) shall be credited against Tax Expenses
and refunded to Tenant regardless of when received, based on the Expense Year to which the refund is applicable, provided that Tenant shall only be entitled to a refund to the extent Tenant paid more in Additional Rent for such Expense Year than
Tenant should have paid had such tax refund been applied against 

  
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Tax Expenses for such Expense Year. If Tax Expenses for any period during the Lease Term or any extension thereof are increased after payment thereof for any reason, including, without
limitation, error or reassessment by applicable governmental or municipal authorities, Tenant shall pay Landlord within thirty (30) days following demand accompanied by reasonably detailed back-up
documentation, Tenant’s Share of any such increased Tax Expenses included by Landlord as Tax Expenses pursuant to the terms of this Lease. Notwithstanding anything to the contrary contained in this Section 4.2.8
(except as set forth in Section 4.2.8.1 above), there shall be excluded from Tax Expenses (i) all excess profits taxes, franchise taxes, gift taxes, capital stock taxes, inheritance and succession taxes, estate taxes,
federal and state income taxes, and other taxes to the extent applicable to Landlord’s general or net income (as opposed to taxes on gross rents or receipts which are included in the definition of Tax Expenses pursuant to the terms of this
Section 4.2.8), (ii) any items included as Operating Expenses, (iii) any items paid by Tenant under Section 4.5 of this Lease (as well as any similar items payable by other Project tenants
pursuant to similar provisions contained in their leases), (iv) tax penalties incurred as a result of Landlord’s failure to make payments and/or to file any tax or informational returns when due, (v) any taxes, assessments or fees payable
in connection with or as a condition to the development or construction of the Project, such as taxes, assessment or fees imposed upon Landlord under any development agreement or similar entitlements for the construction or development (but not
operation) of the Project, and (vi) any assessments on real property or improvements located outside of the Project. All assessments which can be paid by Landlord in installments, shall be paid by Landlord in the maximum number of installments
permitted by law and shall be included as Tax Expenses in the year in which the installment is actually paid. 
 4.2.8.4 Proposition
13 Protection. 
 4.2.8.4.1 Tenant’s Payment of Certain Property Taxes. In the event that during
the first five (5) years of the initial Lease Term (the “Protection Period”), any sale or change in ownership of the Project is consummated with a party unaffiliated with Landlord (a “Change in Ownership”), and
as a result thereof, and to the extent that in connection therewith, the Project or any portion thereof is reassessed (the “Reassessment”) for real estate tax purposes by the appropriate governmental authority pursuant to the terms
of Proposition 13, then the terms of this Section 4.2.8.4 shall apply to such Reassessment of the Project. 

4.2.8.4.2 Tax Increase. For purposes of this Section 4.2.8.4.2, the term “Tax
Increase” shall mean that portion of Tax Expenses attributable to any Reassessment (if any) that occurs during the Protection Period. Accordingly, the term “Tax Increase” shall not include any portion of Tax Expenses, which
(A) is attributable to assessments which existed or were pending immediately prior to the Reassessment (which assessments were conducted during, and included in, such Reassessment and which do not arise out of result from any Reassessment
occurring during the Protection Period due to a Change of Ownership), (B) is attributable to the annual inflationary increase of real estate taxes, (C) is attributable to the Tenant Improvements, or (D) is attributable to any Reassessment
occurring outside of the Protection Period due to a Change in Ownership. 

  
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 4.2.8.4.3 Protection. Notwithstanding anything to the contrary contained
herein, but subject to Section 4.2.8.4.5 below, if a Reassessment occurs during the Protection Period (but not any other period of the Lease Term, including any extension or renewal of the Lease Term), then any Tax Increase
from such Reassessment shall not be included in Real Estate Taxes during such Protection Period. Tenant shall be entitled to no other protections against Tax Increases hereunder, except as expressly provided in this
Section 4.2.8.4.3. 
 4.2.8.4.4 Landlord’s Right to Purchase the Proposition 13 Protection
Amount. The amount of Real Estate Taxes which Tenant is not obligated to pay or will not be obligated to pay during the Protection Period in connection with a Reassessment pursuant to the terms of this
Section 4.2.8.4 shall be sometimes referred to hereafter as a “Proposition 13 Protection Amount”. If the occurrence of a Reassessment is reasonably foreseeable by Landlord and the Proposition 13 Protection
Amount attributable to such Reassessment can be reasonably quantified or estimated for each calendar year commencing with the year in which the Reassessment will occur, the terms of this Section 4.2.8.4.3 shall apply to
each such Reassessment. Upon notice to Tenant, Landlord shall have the right (but not the obligation) to purchase the Proposition 13 Protection Amount relating to the applicable Reassessment (the “Applicable Reassessment”), at any
time during the initial Lease Term, by paying to Tenant an amount equal to the “Proposition 13 Purchase Price,” as that term is defined below. As used herein, “Proposition 13 Purchase Price” shall mean the present value of
the Proposition 13 Protection Amount remaining during the initial Lease Term, as of the date of payment of the Proposition 13 Purchase Price by Landlord. Such present value shall be calculated (x) by using the portion of the Proposition 13
Protection Amount attributable to each remaining year of the initial Lease Term (as though the portion of such Proposition 13 Protection Amount benefited Tenant at the beginning of each month of each year of the Lease Term), as the amounts to be
discounted, and (y) by using discount rates for each amount to be discounted equal to eight percent (8%) per annum. Upon such payment of the Proposition 13 Purchase Price, the provisions of Section 4.2.8.4 of this
Lease shall not apply to any Tax Increase attributable to the Applicable Reassessment, and Tenant shall have no further protection whatsoever under Section 4.2.8.4, and Tenant shall be fully responsible for the entire Tax
Increase. Since Landlord will be estimating the Proposition 13 Purchase Price because a Reassessment has not yet occurred, then when such Reassessment occurs, if Landlord has underestimated the Proposition 13 Purchase Price, Tenant’s Base Rent
next due shall be promptly credited with the amount of such underestimation, and if Landlord overestimates the Proposition 13 Purchase Price, then Tenant shall pay the amount of the overestimation to Landlord within
forty-five (45) days after written demand. 
 4.2.8.4.5 Termination of Prop 13
Protection. Notwithstanding anything to the contrary set forth in this Section 4.2.8.4, if a ROFO Purchase Notice or ROFR Purchase Notice is delivered to Tenant pursuant to Article 30 below
after the sixth (6th) anniversary of the Lease Commencement Date and Tenant does not elect to exercise its right or otherwise loses the right to purchase the Project pursuant to said
Article 30, Tenant shall thereafter have no further protection against a Tax Increase pursuant to Section 4.2.8.4 as a result of a Reassessment that occurs after said 6th anniversary. 
 4.2.9 “Tenant’s Share” shall mean
(a) with respect to Building Operating Expenses, 18.75% (based upon the Premises containing approximately 26,118 rentable square feet and the Building containing approximately 139,298 rentable square feet), and (b) with respect to Project
Operating Expenses, approximately 13.04% (based upon the Premises containing approximately 26,118 rentable square feet of space and the Project containing approximately 200,215 rentable square feet of space). 

  
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 4.3 Cost Pools. Landlord shall have the right, from time to time, to equitably
allocate some or all of the Direct Expenses for the Project among different portions or occupants of the Project (the “Cost Pools”) based on the estimated benefit derived by each such group of occupants that is the subject of the
particular Cost Pool, and such allocations shall be reasonably determined by Landlord in accordance with generally accepted commercial lease accounting practices. Such Cost Pools may include, but shall not be limited to, the office space tenants of
the Project, and the retail space tenants of the Project. The Direct Expenses within each such Cost Pool shall be allocated and charged to the tenants within such Cost Pool in an equitable manner and on a reasonably consistent basis year-over-year. 
 4.4 Calculation and Payment of Additional
Rent. If for any Expense Year ending or commencing within the Lease Term, Tenant’s Share of Direct Expenses for such Expense Year exceeds Tenant’s Share of Direct Expenses applicable to the Base Year (but subject to the exclusion
with respect to Operating Expenses attributable to the initial twelve (12) months of the Lease Term, as set forth above in Section 4.1), then Tenant shall pay to Landlord, in the manner set forth in
Section 4.4.1, below, and as Additional Rent, an amount equal to the excess (the “Excess”). 

4.4.1 Statement of Actual Direct Expenses and Payment by Tenant. Landlord shall give to Tenant following the end of each Expense
Year, a statement (the “Statement”) which shall state in general the major categories the Direct Expenses incurred or accrued for the Base Year or such preceding Expense Year, as applicable (inclusive of a reasonable description of
any Permitted Capital Expenditures which are included in Operating Expenses and, if applicable, the calculations made by Landlord to adjust Direct Expenses pursuant to the final paragraph of Section 4.2.4 and the final
sentence of Section 4.2.8.3), and which shall indicate the amount of the Excess. Landlord shall use commercially reasonable efforts to deliver such Statement to Tenant on or before May 1 following the end of the
Expense Year to which such Statement relates. Upon receipt of the Statement for each Expense Year commencing or ending during the Lease Term, if an Excess is present, Tenant shall pay, within thirty (30) days after receipt of the Statement, the
full amount of the Excess for such Expense Year, less the amounts, if any, paid during such Expense Year as “Estimated Excess,” as that term is defined in Section 4.4.2, below, and if Tenant paid more as Estimated
Excess than the actual Excess, Tenant shall receive a credit in the amount of Tenant’s overpayment against Rent next due under this Lease. The failure of Landlord to timely furnish the Statement for any Expense Year shall not prejudice Landlord
or Tenant from enforcing its rights under this Article 4. Even though the Lease Term has expired and Tenant has vacated the Premises, when the final determination is made of Tenant’s Share of Direct Expenses for the
Expense Year in which this Lease terminates, if an Excess is present, Tenant shall, within thirty(30) days after receipt of the Statement, pay to Landlord such amount, and if Tenant paid more as Estimated Excess than the actual Excess, Landlord
shall, within thirty (30) days, deliver a check payable to Tenant in the amount of the overpayment. The provisions of this Section 4.4.1 shall survive the expiration or earlier termination of the Lease Term.
Notwithstanding the immediately preceding sentence, Tenant shall not be responsible for Tenant’s Share of any Direct Expenses attributable to any Expense Year which are first billed to Tenant more than eighteen (18) months after the Lease
Expiration Date, provided that in any event Tenant shall be responsible for Tenant’s Share of Direct Expenses levied by any governmental authority or by any public utility companies at any time following the Lease Expiration Date which are
attributable to any Expense Year. 

  
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 4.4.2 Statement of Estimated Direct Expenses. In addition, Landlord shall give
Tenant a yearly expense estimate statement (the “Estimate Statement”) which shall set forth in the general major categories Landlord’s reasonable estimate (the “Estimate”) of what the total amount of Direct
Expenses for the then-current Expense Year shall be and the estimated excess (the “Estimated Excess”) as calculated by comparing the Direct Expenses for such Expense Year, which shall be based
upon the Estimate, to the amount of Direct Expenses for the Base Year. Landlord shall use commercially reasonable efforts to deliver such Estimate Statement to Tenant on or before May 1 following the end of the Expense Year to which such
Estimate Statement relates. The failure of Landlord to timely furnish the Estimate Statement for any Expense Year shall not preclude Landlord from enforcing its rights to collect any Additional Rent under this Article 4,
nor shall Landlord be prohibited from revising any Estimate Statement or Estimated Excess theretofore delivered to the extent necessary. Thereafter, Tenant shall pay, on the first day of the next calendar month which occurs at least thirty
(30) days after receipt of the Estimate Statement, a fraction of the Estimated Excess for the then-current Expense Year (reduced by any amounts paid pursuant to the second to last sentence of this
Section 4.4.2). Such fraction shall have as its numerator the number of months which have elapsed in such current Expense Year, including the month of such payment, and twelve (12) as its denominator. Until a new
Estimate Statement is furnished (which Landlord shall have the right to deliver to Tenant at any time), Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12)
of the total Estimated Excess set forth in the previous Estimate Statement delivered by Landlord to Tenant. Throughout the Lease Term, Landlord shall maintain books and records with respect to Direct Expenses in accordance with generally accepted
real estate accounting and management practices, consistently applied. 
 4.5 Taxes and Other Charges for Which Tenant Is Directly
Responsible. 
 4.5.1 Tenant shall be liable for and shall pay thirty (30) days before delinquency, taxes levied against
Tenant’s equipment, furniture, fixtures and any other personal property located in or about the Premises. If any such taxes on Tenant’s equipment, furniture, fixtures and any other personal property are levied against Landlord or
Landlord’s property or if the assessed value of Landlord’s property is increased by the inclusion therein of a value placed upon such equipment, furniture, fixtures or any other personal property and if Landlord pays the taxes based upon
such increased assessment, which Landlord shall have the right to do regardless of the validity thereof but only under proper protest if requested by Tenant, Tenant shall repay to Landlord the taxes so levied against Landlord or the proportion of
such taxes resulting from such increase in the assessment, as the case may be, within thirty (30) days of Tenant’s receipt of an invoice and reasonable supporting documentation therefor. 

4.5.2 If the tenant improvements in the Premises, whether installed and/or paid for by Landlord or Tenant and whether or not affixed to the
real property so as to become a part thereof, are assessed for real property tax purposes at a valuation higher than the valuation at which tenant improvements conforming to Landlord’s “building standard” in other space in the
Building are assessed, then the Tax Expenses levied against Landlord or the property by reason of such excess assessed valuation shall be deemed to be taxes levied against personal property of Tenant and shall be governed by the provisions of
Section 4.5.1, above. Landlord and Tenant hereby agree that the valuation of Landlord’s “building standard” tenant improvements shall be equal to $75.00 per rentable square foot. 

  
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 4.5.3 Subject to the terms of Section 4.2.8, above, Tenant shall
pay prior to delinquency any rent tax or sales tax, service tax, transfer tax or value added tax, or any other applicable tax on the gross rent payable by Tenant under this Lease, or (ii) taxes assessed upon or with respect to the possession,
leasing, operation, management, maintenance, alteration, repair, use or occupancy by Tenant of the Premises pursuant to this Lease. 
 4.6
Landlord’s Books and Records. Following Tenant’s receipt of a Statement, Tenant shall have the right by written notice to Landlord to commence an audit of Landlord’s books concerning the Direct
Expenses for the Expense Year which are the subject to such Statement, within one (1) year following the delivery of such Statement (the “Review Period”) and complete the same within ninety (90) days thereafter. Following
the giving of such written notice, Tenant shall have the right during Landlord’s regular business hours taking into account the workload of Landlord’s employees involved in the audit at the time of the audit request and on reasonable prior
notice, to audit, at Landlord’s corporate offices (or such other location as mutually agreed upon by Landlord and Tenant), at Tenant’s sole cost, Landlord’s records, provided that Tenant is not then in Default. The audit of
Landlord’s records may be conducted only by a reputable certified public accountant, subject to Landlord’s approval, which approval shall not be unreasonably withheld. Any accounting firm selected by Tenant in connection with the audit
(i) shall be a reputable certified public accounting firm which has previous experience in auditing financial operating records of landlords of office buildings; (ii) shall not be retained by Tenant on a contingency fee basis (i.e. Tenant
must be billed based on the actual time and materials that are incurred by the accounting firm in the performance of the audit), a copy of the executed audit agreement, between Tenant and auditor, shall be provided to Landlord prior to the
commencement of the audit; and (iii) at Landlord’s option, both Tenant and its agent shall be required to execute a commercially reasonable confidentially agreement prepared by Landlord. Any audit report prepared by Tenant’s auditors
shall be delivered concurrently to Landlord and Tenant within the Review Period. If, after such audit of Landlord’s records, Tenant disputes the amount of Direct Expenses for the year under audit, Landlord and Tenant shall meet and attempt in
good faith to resolve the dispute. If the parties are unable to resolve the dispute within sixty (60) days after completion of Tenant’s audit, then, at Tenant’s request, a certified public accounting firm selected by Landlord, and
reasonably approved by Tenant, shall conduct an audit of the relevant Direct Expenses (the “Neutral Audit”), provided, however, such certified public accountant shall not be the accountant who conducted Landlord’s initial
calculation of Direct Expenses. Tenant shall pay all costs and expenses of the Neutral Audit unless the final determination in such Neutral Audit is that Landlord overstated Direct Expenses in the Statement for the year being audited by more than
three percent (3%) in which case Landlord shall pay all costs and expenses of the Neutral Audit, as well as Tenant’s reasonable out-of-pocket costs actually
incurred by Tenant in the review of Landlord’s books and records. Additionally, if the parties agree or it is determined (whether or not through arbitration) that Landlord overstated Direct Expenses by more than three percent (3%), Landlord
shall pay Tenant’s reasonable out of pocket costs incurred in the audit of Landlord’s books and records. In any 

  
 24 

 
event, Landlord will reimburse or provide a credit for any overstatement of Direct Expenses and Tenant shall pay to Landlord any understatement of Direct Expenses. If the Direct Expenses for the
Base Year are adjusted as a result of such Neutral Audit, then any such change in the Direct Expenses for the Base Year shall be included in the foregoing calculation to determine if the Direct Expenses were overstated by more than three percent
(3%). To the extent Landlord and Tenant fail to otherwise reach mutual agreement regarding Direct Expenses, the foregoing audit and Neutral Audit procedures shall be the sole methods to be used by Tenant to dispute the amount of any Direct Expenses
payable by Tenant pursuant to the terms of the Lease. 
 ARTICLE 5 

USE OF PREMISES 

5.1 Permitted Use. Tenant shall use the Premises solely for the Permitted Use set forth in Section 7
of the Summary and Tenant shall not use or permit the Premises or the Project to be used for any other purpose or purposes whatsoever without the prior written consent of Landlord, which may be withheld in Landlord’s reasonable discretion.
Without limiting the foregoing, Tenant’s use must comply with and is subject to the terms of the Colorado Creative Studios Development Agreement (the “Development Agreement”) referenced in
Exhibit G attached hereto. 
 5.2 Prohibited Uses. The uses prohibited under this Lease
shall include, without limitation, use of the Premises or a portion thereof for (i) offices of any agency or bureau of the United States or any state or political subdivision thereof; (ii) offices or agencies of any foreign governmental or
political subdivision thereof; (iii) offices of any health care professionals or service organization; (iv) schools or other training facilities which are not ancillary to corporate, executive or professional office use; (v) retail
use or the operation of any restaurant offering services to the public; (vi) a data or call center; or (vii) communications firms such as radio and/or television stations. Tenant further covenants and agrees that Tenant shall not use, or
suffer or permit any person or persons to use, the Premises or any part thereof for any use or purpose contrary to the provisions of the Rules and Regulations set forth in Exhibit D, attached hereto, or in violation of the laws of
the United States of America, the State of California, or the ordinances, regulations or requirements of the local municipal or county governing body or other lawful authorities having jurisdiction over the Project) including, without limitation,
any such laws, ordinances, regulations or requirements relating to Hazardous Substances. Tenant shall not do or permit anything to be done in or about the Premises which will in any way damage the reputation of the Project or obstruct or interfere
with the rights of other tenants or occupants of the Building, or injure or annoy them or use or allow the Premises to be used for any unlawful purpose, nor shall Tenant cause, maintain or permit any nuisance in, on or about the Premises. Tenant
shall comply with all recorded covenants, conditions, and restrictions now or hereafter affecting the Project. Except for small quantities customarily used in business offices, Tenant shall not cause or permit any Hazardous Substance to be kept,
maintained, used, stored, produced, generated or disposed of (into the sewage or waste disposal system or otherwise) on or in the Premises by Tenant or Tenant’s agents, employees, contractors, invitees, assignees or sublessees, without first
obtaining Landlord’s written consent. Tenant shall immediately notify, and shall direct Tenant’s agents, 

  
 25 

 
employees contractors, invitees, assignees and sublessees to immediately notify, Landlord of any incident in, on or about the Premises, the Building or the Project that would require the filing
of a notice under any federal, state, local or quasi-governmental law (whether under common law, statute or otherwise), ordinance, decree, code, ruling, award, rule, regulation or guidance document now or
hereafter enacted or promulgated, as amended from time to time, in any way relating to or regulating any Hazardous Substance. As used herein, “Hazardous Substance” means any substance which is toxic, ignitable, reactive, or
corrosive and which is regulated by any local government, the State of California, or the United States government. “Hazardous Substance” includes any and all material or substances which are defined as “hazardous waste,”
“extremely hazardous waste” or a “hazardous substance” pursuant to state, federal or local governmental law. “Hazardous Substance” also includes asbestos, polychlorobiphenyls (i.e., PCB’s) and petroleum. 

5.3 Electric Car Charging Stations. As part of the Base, Shell and Core, Landlord shall provide no less than ten (10)
“Electric Car Charging Stations” in the Garage (as that term is defined in Section 5.4.1) for use by Tenant on a non-exclusive basis. Landlord shall have the right to
develop and implement rules and procedures for the operation and use thereof, including making determinations of fees to be charged for such use. Landlord shall be entitled to all fees generated through the operation of the Electric Car Charging
Stations. 
 5.4 Tenant’s Bicycles. Tenant’s employees shall be permitted to bring their bicycles
(“Bicycles”) into the designated portions of the Garage (defined below), subject to the provisions of this Section 5.4, and such additional reasonable rules and regulations as may be promulgated by Landlord
from time to time (in Landlord’s reasonable discretion) that do not unreasonably interfere with Tenant’s employees’ ability to park their bicycles as contemplated herein and provided to Tenant, and only to the extent such Bicycles are
used for commuting to and from work by such employees. AT NO TIME ARE RIDERS ALLOWED TO RIDE ANY BICYCLE IN THE PREMISES, THE GARAGE, THE BUILDING, OR ANYWHERE ELSE WITHIN THE PROPERTY. RIDERS MUST ALWAYS WALK THEIR BICYCLES WITHIN THE PROPERTY
BOUNDARIES. Storage of any Bicycle anywhere on the Project other than as expressly set forth in this Section 5.4 is prohibited. Tenant shall keep its employees informed of these rules and regulations and any modifications
thereto. 
 5.4.1 Bicycle Storage Area. Tenant’s employees shall have the
non-exclusive right, on a first come, first served basis, at no cost to Tenant, to utilize that portion of the Building’s parking garage (the “Garage”) designated by Landlord for the
parking of operable non-motorized Bicycles by Tenant’s employees and invitees (the “Bicycle Storage Area”). Motorized vehicles of any kind, including motorcycles and mopeds, are
prohibited in the Bicycle Storage Area, as is the storage of any property other than Bicycles. Each rider shall use the Bicycle Storage Area at his or her sole risk. Landlord specifically reserves the right to reasonably change the location, size,
configuration, design, layout and all other aspects of the Bicycle Storage Area at any time (provided that no such action will materially diminish the capacity of the Bicycle Storage Area on other than a temporary basis), and Tenant acknowledges and
agrees that Landlord may, upon no less than one (1) business day’s prior written notice (except in the event of an emergency, where no prior notice shall be required), without incurring any liability to Tenant and without any abatement of
Rent under this Lease, from time to time, temporarily close-off or restrict access to the Bicycle Storage Area for purposes of permitting or facilitating any such construction, alteration or improvements. It
is further understood and agreed 

  
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that, if necessary in order to comply with any local or governmental rules and regulations relating to transportation or environmental considerations, Landlord and Tenant will work together to
accommodate any required increase in the Bicycle Storage Area. Landlord has no obligation to provide any security whatsoever in connection with the Bicycle Storage Area except as expressly set forth in this Section 5.4.1.
Landlord shall provide twenty-four (24) hours per day, seven (7) days per week, reasonable access control services for the Bicycle Storage Area in a manner materially consistent with the services
provided by landlords of the First Class Buildings. Notwithstanding the foregoing, except to the extent arising out of the negligence or willful misconduct of Landlord, Landlord shall in no case be liable for personal injury or property damage
for any error with regard to the admission to or exclusion from the Bicycle Storage Area of any person not authorized to enter the Project. Upon the expiration or earlier termination of this Lease, Tenant shall have removed all Bicycles belonging to
its employees from the Bicycle Storage Area and Tenant, at Tenant’s sole cost and expense, shall repair all damage to the Bicycle Storage Area caused by the removal of Tenant’s property therefrom, and if Tenant fails to repair such damage,
Landlord may undertake such repair on account of Tenant and Tenant shall pay to Landlord upon demand the cost of such repair. If Tenant fails to remove any Bicycles at the expiration or earlier termination of this Lease, Landlord may dispose of said
Bicycles in such lawful manner as it shall determine in its sole and absolute discretion. 
 ARTICLE 6 

SERVICES AND UTILITIES 

6.1 Standard Tenant Services. Landlord shall provide the following services on all days (unless otherwise stated below) during
the Lease Term, as necessary to operate and maintain the Project as a first class office building project offering amenities, character and operational qualities (including, without limitation, maintenance, quality and timeliness of provision of
services) generally consistent with those currently provided at the following office buildings (so long as same are leased to third party tenants): the office building located at 2700 Colorado Boulevard, Water Garden and Colorado Center (such other
buildings to be herein referred to collectively as the “First Class Buildings”). 
 6.1.1 Subject to
limitations imposed by all governmental rules, regulations and guidelines applicable thereto, Landlord shall provide heating and air conditioning (“HVAC”) when necessary for normal comfort for normal office use in the Premises in
accordance with HVAC Design Standards (defined below), from 8:00 A.M. to 6:00 P.M. Monday through Friday and 9:00 A.M. to 1:00 P.M. on Saturday (the “Building Hours”) (i.e., the HVAC is intended to bring the temperature within the
HVAC Design Standard by 8:00 A.M. each Monday through Friday, and the Building engineers shall use their best efforts to start up the HVAC system at such times each day as applicable to ensure the foregoing standards are met by the required time),
except for the date of observation of New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Christmas Day and, at Landlord’s discretion, other locally or nationally recognized holidays (collectively, the
“Holidays”). In the event Tenant subsequently requests a minor adjustment(s) to the Building Hours from time to time, Landlord further agrees to use its commercially reasonable efforts to accommodate any such request. The Building
HVAC System serving the Premises shall be designed to maintain temperatures for the comfortable occupancy of the Premises in a manner comparable to that provided at First Class Buildings, based upon

  
 27 

 
population load per floor of not more than one person per 200 square feet of usable area, 0.15 CFM per rentable square foot of outside air, tenant power and light at 5 watts per rentable square
foot (“HVAC Design Standard”). During the Lease Term, Landlord shall also use its commercially reasonable efforts to cause the HVAC and indoor air quality of the Premises to materially comply with, for the entire Lease Term, the
standards set forth in Standard 62.1-2016 for office occupancy (“Ventilation for Acceptable Indoor Air Quality”), including both the requirements of the Ventilation Rate Procedure and Indoor
Air Quality Procedure and the maintenance requirements, recommendations and guidelines contained therein, promulgated by the American Society of Heating, Refrigerating and Air Conditioning Engineers (“ASHRAE”) (collectively, the
“Indoor Air Quality Standard”). In the event the indoor air quality delivered to the Premises by the HVAC (excluding any air delivered by any supplemental system installed by Tenant) fails to meet the Indoor Air Quality Standard on
a sustained basis as a result of a condition not caused by (A) Tenant’s use of the Premises (for non-general office use) or (B) any act or omission of Tenant or Tenant’s Parties (including
Tenant’s occupancy density), then such condition shall be referred to as a “Sick Building”. Upon Tenant’s reasonable periodic request, Landlord shall have its personnel adjust the thermostats in the Premises at no
additional cost to Tenant. If Tenant desires to use heat, ventilation or air conditioning during hours other than Building Hours (exclusive of any separately metered utilities for Tenant’s Supplemental HVAC, as that term is defined in
Section 6.6 below), (i) Tenant shall give Landlord such prior notice, as Landlord shall from time to time establish as appropriate, of Tenant’s desired use, (ii) Landlord shall supply such heat, ventilation or air
conditioning to Tenant at such hourly cost to Tenant as Landlord shall from time to time establish, and (iii) Tenant shall pay such cost as Additional Rent. Landlord confirms that after-hours heating and air-conditioning is available to the Premises at the current rate of Seventy-Five and 00/100 Dollars ($75) per hour per floor of the Premises. Tenant shall cooperate fully
with Landlord at all times and abide by all regulations and requirements that Landlord may reasonably prescribe for the proper functioning and protection of the HVAC, electrical, mechanical and plumbing systems. 

6.1.2 Subject to the other terms of this Lease, Landlord shall provide adequate electrical wiring and facilities and power for normal general
office use in the total amount of five (5) watts connected load per rentable square foot of the Premises. In connection with the foregoing, (i) four (4) watts connected load per rentable square foot of the Premises shall be furnished at
one hundred twenty (120) volts for Tenant’s incidental equipment use, and (ii) one (1) watt connected load per rentable square foot of the Premises shall be furnished at two hundred
seventy-seven (277) volts for Tenant’s lighting. In addition, to the extent required by applicable code, Landlord shall provide emergency generator power for emergency lighting in the Building.
Tenant shall bear the cost of replacement of lamps, starters and ballasts for non-Building standard lighting fixtures within the Premises (Landlord, as part of Operating Expenses, will replace Building
standard lamps, starters and ballasts). Tenant agrees that all lighting installed in the Premises shall comply with all requirements of Title 24 (as applicable to the Premises). Tenant shall reasonably cooperate with Landlord at all times and abide
by all regulations and requirements that Landlord may reasonably prescribe for the proper functioning and protection of the Building electrical systems. 

6.1.3 Landlord shall provide city water from the regular Building outlets for drinking, lavatory and toilet purposes in the Common Areas. 

  
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 6.1.4 Landlord shall provide cleaning and janitorial services to the Premises and to the
Common Areas of the Project (including all building exteriors and the Garage) in a manner consistent with the First Class Buildings. Landlord shall also provide maintenance services to all Common Areas of the Project as necessary to maintain
and operate the Project in a manner consistent with the First Class Buildings. In the event that Landlord fails to provide such services to all Common Areas of the Project, Tenant shall deliver to Landlord written notice setting forth in
reasonable detail the nature of the failures and lapses. Upon receipt of such notice, unless Landlord disputes such claimed failures in good faith, Landlord covenants and agrees to promptly remedy any such failure of janitorial services either by
enforcing its contract with the existing janitorial service provider, or by replacing the existing janitorial service provider with a new provider reasonably acceptable to Tenant who is qualified and obligated to perform the full scope of the
janitorial and maintenance services required by the terms of this Lease. 
 6.1.5 Landlord shall provide a third party property manager for
the Project as necessary to perform property management functions at least equal (in terms of response time and quality of service, among other factors) to the performance of property managers of the First Class Buildings. To the extent
consistent with the First Class Buildings, Landlord shall have a parking attendant available on-site (in the parking facility) and an engineer available to service the Building during the Project’s
normal business hours. 
 6.1.6 Landlord shall provide non-exclusive,
non-attended automatic passenger elevator service during the Building Hours, and shall have one (1) elevator available at all other times. Landlord shall provide
non-exclusive use of the Building loading dock(s) and freight elevator(s) (if any) for deliveries to Tenant at all times allowed pursuant to the requirements of the City of Santa Monica, but otherwise in
accordance with the Building’s rules and regulations. 
 6.1.7 Subject to Landlord’s rules, regulations, and restrictions and the
terms of this Lease, Landlord shall permit Tenant, at no additional charge to Tenant, to utilize Tenant’s Share of the risers, raceways, shafts and conduit in the Building that is available for use by the tenants and occupants of the Building.

 6.1.8 Landlord shall provide security and access-control services 24 hours per day, 7 days per
week, 365 days per year, for the Project and Building parking facility in a manner materially consistent with the First Class Buildings. Upon advance request from Tenant, and subject to the availability of a security personnel at such time,
such services shall include a security escort to Tenant’s employees and invitees traveling to and from the Building to their vehicles after dark. Notwithstanding the foregoing, except to the extent arising from the negligence or willful
misconduct of Landlord, Landlord shall in no case be liable for personal injury or property damage for any error with regard to the admission to or exclusion from the Building or the Project of any person. 

6.1.9 Landlord hereby agrees that Tenant shall have the right at Tenant’s sole expense to install or utilize Tenant’s own security
measures (such as a security system, card-key system, and a remotely monitored camera security system) within (but not outside) any portions of its Premises which are not shared, so long as such systems and
services are compatible with Building systems and reasonably approved by Landlord (“Tenant’s Security System”). Tenant’s Security System shall be subject to Landlord’s prior review and approval (not to
be unreasonably 

  
 29 

 
withheld), and the installation thereof shall be deemed an Alteration and shall be performed pursuant to Article 8 of this Lease, below. In addition, Tenant shall
coordinate the selection, installation and operation of Tenant’s Security System with Landlord in order to ensure that Tenant’s Security System is compatible with Landlord’s Building security systems and equipment, and to the extent
that Tenant’s Security System is not compatible with Landlord’s Building systems and equipment, Tenant shall not be entitled to install and/or operate the Tenant’s Security System. Tenant shall be solely responsible, at Tenant’s
sole cost and expense, for the monitoring, operation and removal of Tenant’s Security System. 
 6.1.10 Subject to Applicable Laws and
the other provisions of this Lease, and except in the event of an emergency, Tenant shall have access to the above utilities and the Building, the Premises and the Common Areas (other than common areas requiring access with a Building engineer), the
Garage and freight elevator, twenty-four (24) hours per day, seven (7) days per week, every day of the year; provided, however, that Tenant shall only be permitted to have access to and use of the
loading dock, and other limited-access areas of the Building during all times allowed pursuant to the requirements of the City of Santa Monica. On or before the Lease Commencement Date, Landlord shall deliver
to Tenant one (1) Building key card per 250 rentable square feet of the Premises, at no charge to Tenant. Tenant shall have the right to deliver written notice to Landlord requesting additional key cards, from time to time, provided that such
additional key cards shall be at the prevailing rate charged by Landlord for such cards from time to time (which rate as of the date of this Lease is Twenty-Five and 00/100 Dollars ($25.00) per key card). 

6.2 Intentionally Omitted. 

6.3 Interruption of Use. Unless any failure or delay or diminution is the result of Landlord’s negligence or breach of this
Lease, Tenant agrees that Landlord shall not be liable for damages, by abatement of Rent or otherwise (except as specifically set forth in Section 19.5.2 of this Lease), for failure to furnish or delay in furnishing any
service (including telephone and telecommunication services), or for any diminution in the quality or quantity thereof, when such failure or delay or diminution is occasioned, in whole or in part, by breakage, repairs, replacements, or improvements,
by any strike, lockout or other labor trouble, by inability to secure electricity, gas, water, or other fuel at the Building or the Project after reasonable effort to do so, by any riot or other dangerous condition, emergency, accident or casualty
whatsoever, by act or default of Tenant or other parties, or by any other cause; and such failures or delays or diminution shall never be deemed to constitute an eviction or disturbance of Tenant’s use and possession of the Premises or relieve
Tenant from paying Rent (except as specifically set forth in Section 19.5.2 of this Lease) or performing any of its obligations under this Lease. Furthermore, Landlord shall not be liable under any circumstances for a loss
of, or injury to, property or for injury to, or interference with, Tenant’s business, including, without limitation, loss of profits, however occurring, through or in connection with or incidental to a failure to furnish any of the services or
utilities as set forth in this Article 6. 
 6.4 Use of Shafts and Utility Connections. Landlord
shall have reasonable access through existing Building shafts to other portions of the Building (including the roof, mechanical floors and tenant spaces [including the Premises]), or to utility connections outside the Building, for the installation,
repair, and maintenance of ducts, pipes, connections, and equipment for cables, conduits, transmitters, receivers, and other office, computer, communications and word and data 

  
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processing equipment and facilities, including any technological devices not yet developed, whether similar or dissimilar to the foregoing, which may hereafter become necessary or desirable for
any permitted use of the Project; provided, however, that to the extent such shafts or utility connections are located within the Premises, such access shall not materially and unreasonably interfere with Tenant’s occupancy of the
Premises (Landlord’s efforts in such regard will include, where reasonably possible, limiting the performance of any such work which might be disruptive to weekends or the evening and the cleaning of any work area prior to the commencement of
the next business day). 
 6.5 Telecommunications Services. As part of the Base, Shell and Core, Landlord has installed and
shall maintain a Main Point of Entry located in the Building (the “MPOE”), through which telecommunications services will be routed. Tenant shall be allowed to contract with such telecommunications, internet and data service
providers as Tenant may elect, and all such providers will be provided nondiscriminatory access at no charge as necessary to provide service to the Building. Tenant shall also have the right to install wi-fi,
cell booster, and other systems and equipment necessary or desirable for Tenant’s business operations at the Building and in the Common Areas. 

6.6 Supplemental HVAC. Pursuant to and in accordance with the terms of the Tenant Work Letter attached hereto as
Exhibit B, Tenant shall cause supplemental HVAC equipment to be installed as part of the Tenant Improvements within the server room located within the Premises (collectively, the “Supplemental HVAC Equipment”).
Tenant’s use and maintenance of the Supplemental HVAC Equipment shall be at Tenant’s sole cost and expense and Tenant shall at all times maintain the Supplemental HVAC Equipment in good condition and repair. Pursuant to the Work Letter, a
separate meter for the Supplemental HVAC Equipment shall be installed as part of the Tenant Improvements. The Supplemental HVAC Equipment shall be separately metered at Tenant’s sole cost and expense, and all costs and utility charges relating
to the operation, maintenance and repair of such Supplemental HVAC Equipment shall be paid for by Tenant. If Tenant elects to install any additional supplemental HVAC equipment pursuant to the terms of Article 8 below,
Tenant shall install and operate the additional supplemental HVAC equipment in compliance with Applicable Laws and shall at all times maintain the additional supplemental HVAC equipment in good condition and repair. Upon the expiration or earlier
termination of this Lease, Tenant shall surrender the Supplemental HVAC Equipment and any additional supplemental HVAC equipment to Landlord in good condition, normal wear and tear excepted. 

ARTICLE 7 

REPAIRS 
 Landlord
shall at all times during the Lease Term maintain in good condition and operating order and in a manner reasonably commensurate with the maintenance standards of owners of First Class Buildings, the structural portions of the Building,
including, without limitation, the foundation, floor slabs, ceilings, roof, columns, beams, shafts, stairs, stairwells, escalators, elevators, base building restrooms and all Common Areas (collectively, the “Building Structure”),
and the Base Building mechanical, electrical, life safety, plumbing, sprinkler and HVAC systems installed or furnished by Landlord (collectively, the “Building Systems”). Except as specifically set forth in this Lease to the
contrary, Tenant shall not be required to repair the 

  
 31 

 
Building Structure and/or the Building Systems except to the extent required because of Tenant’s use of the Premises. Tenant shall, at Tenant’s own expense, pursuant to the terms of
this Lease, including without limitation, Article 8 hereof, keep the Premises, including all improvements, fixtures and furnishings therein, and the floor or floors of the Building on which the Premises are located, in good
order, repair and condition (ordinary wear and tear excepted) at all times during the Lease Term. In addition, Tenant shall, at Tenant’s own expense, but under the supervision and subject to the prior reasonable approval of Landlord, pursuant
to the terms of this Lease, including without limitation Article 8 hereof, promptly and adequately repair all damage to the Premises and replace or repair all damaged, broken, or worn fixtures and appurtenances, except for
damage caused by ordinary wear and tear or beyond the reasonable control of Tenant; provided however, that, at Landlord’s option, or if Tenant fails to commence to make such repairs within ten (10) business days following notice from
Landlord, Landlord may, but need not, make such repairs and replacements, and Tenant shall pay Landlord the cost thereof. Subject to the provisions of the final sentence of Section 6.4, above, Landlord may, but shall not be
required to, enter the Premises at all reasonable times (upon no less than one (1) business day’s prior notice to Tenant, except in the event of an emergency, where no prior notice shall be required) to make such repairs, alterations,
improvements or additions to the Premises or to the Project or to any equipment located in the Project as Landlord shall desire or deem necessary or as Landlord may be required to do by governmental or
quasi-governmental authority or court order or decree. Tenant hereby waives any and all rights under and benefits of subsection 1 of Section 1932 and Sections 1941 and 1942 of the California
Civil Code or under any similar law, statute, or ordinance now or hereafter in effect. 
 ARTICLE 8 

ADDITIONS AND ALTERATIONS 

8.1 Landlord’s Consent to Alterations. Except for “Cosmetic Alterations” (as that term is defined below) and
alterations made pursuant to the terms of Section 8.6 below, Tenant may not make any improvements, alterations, additions or changes to the Premises or any mechanical, plumbing or HVAC facilities or systems pertaining to
the Premises (collectively, the “Alterations”) without first procuring the prior written consent of Landlord to such Alterations, which consent shall be requested by Tenant not less than ten (10) business days prior to the
commencement thereof, and which consent shall not be unreasonably withheld by Landlord, provided it shall be deemed reasonable for Landlord to withhold its consent to any Alteration which may adversely affect the Building Structure (taking into
account the fact that the Building is a post-tension building) or Building Systems or is visible from the exterior of the Building, or negatively impacts or impairs the Building’s LEED
certification. Notwithstanding the foregoing, Tenant shall be permitted to make strictly cosmetic, non-structural additions and alterations (“Cosmetic Alterations”) following five
(5) business days’ notice to Landlord, but without Landlord’s prior consent, to the extent that such Cosmetic Alterations (i) do not affect the Building Structure, Building Systems or equipment, (ii) are not visible from the
exterior of the Building, (iii) do not require a building or construction permit, (iv) cost less than $25,000.00 for a particular job of work, and (v) do not negatively impair or impact the Building’s LEED certification. The
construction of the initial improvements to the Premises shall be governed by the terms of the Tenant Work Letter and not the terms of this Article 8. 

  
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 8.2 Manner of Construction. Landlord may impose, as a condition of its consent
to any and all Alterations or repairs of the Premises or about the Premises, such requirements as Landlord in its reasonable discretion may deem desirable, including, but not limited to, the requirement that Tenant utilize for such purposes only
contractors, subcontractors, materials, mechanics and materialmen selected by Tenant and reasonably approved by Landlord, the requirement that upon Landlord’s request, Tenant shall, at Tenant’s expense, remove any “Specialty
Alterations” (defined below) upon the expiration or any early termination of the Lease Term. Tenant shall construct such Alterations and perform such repairs in a good and workmanlike manner, in conformance with any and all applicable federal,
state, county or municipal laws, rules and regulations and pursuant to a valid building permit, issued by the City of Santa Monica, all in conformance with Landlord’s reasonable construction rules and regulations. In the event Tenant performs
any Alterations in the Premises which require or give rise to governmentally required changes to the “Base Building,” as that term is defined below, then Landlord shall, at Tenant’s expense, make such changes to the Base Building. The
“Base Building” shall mean the Base, Shell and Core, including the Building Structure and the Building Systems, further including the Building Systems on the floor or floors on which the Premises are located as well as the Common
Areas. In performing the work of any such Alterations, Tenant shall have the work performed in such manner so as not to obstruct access to the Project or any portion thereof, by any other tenant of the Project, and so as not to obstruct the business
of Landlord or other tenants in the Project. In addition to Tenant’s obligations under Article 9 of this Lease, upon completion of any Alterations, Tenant agrees to cause a Notice of Completion to be recorded in the
office of the Recorder of the County of Los Angeles in accordance with Section 3093 of the Civil Code of the State of California or any successor statute, and Tenant shall deliver to the Project management office a reproducible copy of the
“as built” or record drawings of the Alterations as well as all permits, approvals and other documents issued by any governmental agency in connection with the Alterations. 

8.3 Payment for Improvements. If payment is made directly to contractors, Tenant shall, at Tenant’s cost, comply with
Landlord’s reasonable requirements for final lien releases and waivers in connection with Tenant’s payment for work to contractors. For purposes of determining the cost of an Alteration, work done in phases or stages shall be considered
part of the same Alteration, and any Alteration shall be deemed to include all trades and materials involved in accomplishing a particular result. 

8.4 Construction Insurance. In addition to the requirements of Article 10 of this Lease, in the event
that Tenant makes any Alterations which do not constitute purely Cosmetic Alterations, then prior to the commencement of such Alterations, Tenant shall provide Landlord with evidence that Tenant carries “Builder’s All
Risk” insurance in an amount at least equal to the replacement value of the Alterations, liability insurance insuring Tenant and each of Tenant’s contractors against construction-related risks,
and if applicable, workers’ compensation and such other reasonable and customary coverage required of contractors working in First Class Buildings. It is further understood and agreed that all of such Alterations shall be insured by Tenant
pursuant to Article 10 of this Lease immediately upon completion thereof. In addition, in connection with any Alterations which do not constitute purely Cosmetic Alterations, Tenant shall reimburse Landlord for
Landlord’s reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with Landlord’s review of Tenant’s work. 

  
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 8.5 Landlord’s Property. All Alterations, improvements, fixtures,
equipment and/or appurtenances which may be installed or placed in or about the Premises, from time to time, shall be at the sole cost of Tenant and shall be and become the property of Landlord, except that Tenant may remove any Alterations,
improvements, fixtures and/or equipment which Tenant can substantiate to Landlord have not been paid for with any Tenant improvement allowance funds provided to Tenant by Landlord, provided Tenant repairs any damage to the Premises and Building
caused by such removal and returns the affected portion of the Premises to the condition existing prior to the installation of such Alteration, improvement, fixture, equipment and/or appurtenance as reasonably determined by Landlord. Furthermore,
Landlord may, by written notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant’s expense, to remove any Specialty Alterations and to repair any damage to the
Premises and Building and return the affected portion of the Premises to the condition existing prior to the installation of such Specialty Alteration (reasonable wear and tear excepted) as reasonably determined by Landlord; provided; however, that
notwithstanding the foregoing, upon request by Tenant at the time of Tenant’s request for Landlord’s consent to any Alteration or improvement, Landlord shall notify Tenant whether the applicable Alteration or improvement constitutes a
Specialty Alteration that will be required to be removed pursuant to the terms of this Section 8.5. If Tenant fails to complete any required removal and/or to repair any damage caused by the required removal of any
Specialty Alterations, and return the affected portion of the Premises to the condition existing prior to the installation of such Specialty Alteration (reasonable wear and tear excepted) as reasonably determined by Landlord, Landlord may do so and
may charge the actual and reasonable cost thereof to Tenant. Tenant hereby protects, defends, indemnifies and holds Landlord harmless from any liability, cost, obligation, expense or claim of lien in any manner relating to the installation,
placement, removal or financing of any such Alterations, improvements, fixtures and/or equipment in, on or about the Premises, which obligations of Tenant shall survive the expiration or earlier termination of this Lease. As used herein,
“Specialty Alterations” shall mean any Alteration or Tenant Improvements that is not a normal and customary general office improvement, including, but not limited to improvements which (i) perforate, penetrate or require
reinforcement of a floor slab (including, without limitation, interior stairwells or high-density filing or racking systems), (ii) consist of the installation of a raised flooring system, (iii) consist of
the installation of a vault or other similar device or system intended to secure the Premises or a portion thereof in a manner that exceeds the level of security necessary for ordinary office space, (iv) involve material plumbing connections
(such as, for example but not by way of limitation, kitchens, saunas, showers, and executive bathrooms outside of the Building core and/or special fire safety systems), (v) consist of the dedication of any material portion of the Premises to non-office usage (such as classrooms, bicycle storage rooms or kitchens), (vi) internal stairwells between floors; (vii) screening rooms; or (viii) can be seen from outside the Premises. 

8.6 Self Help. Notwithstanding the foregoing, in the event that Landlord fails to make any repairs to the Premises which Landlord
is required to make pursuant to the terms of this Lease (which failure to repair materially and adversely affects Tenant’s use of the Premises) within thirty (30) days after written notice from Tenant (or one (1) business day after
written notice in the case of an emergency involving the likelihood of imminent harm to person or material damage to property), then Tenant may give Landlord an additional five (5) business days written notice (or additional one
(1) business day’s written notice in the case of emergency as described above) (such additional notice, a “Self Help Notice”) specifying that Tenant is going to take such required action

  
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(which notice must describe in detail the action required of Landlord pursuant to this Lease, and state in the subject line in boldface, ALL CAPS that
“LANDLORD’S ATTENTION IS REQUIRED. IF LANDLORD FAILS TO COMMENCE PERFORMANCE OF ITS OBLIGATIONS WITHIN FIVE (5) BUSINESS DAYS [ONE (1) BUSINESS DAY] FOLLOWING THE DATE OF THIS
NOTICE, TENANT SHALL EXERCISE IT’S “SELF HELP” REMEDY PURSUANT TO SECTION 8.6 OF THE LEASE”). If Landlord has not commenced to repair such problem
(or reasonably objected to the required action described in Tenant’s notice) within such five (5) business day period (or one (1) business day period in the case of an emergency) after receipt of the Self Help Notice from Tenant
(which Self Help Notice must conform with the foregoing requirements), then Tenant shall have the right to perform the required action of Landlord in a good and professional manner in accordance with all applicable laws (using vendors pre-approved by Landlord) and, provided that Landlord has not reasonably disputed or objected to the required action described in Tenant’s notice, Landlord shall reimburse Tenant for the actual and reasonable
costs thereof (except to the extent Tenant would otherwise ultimately have been responsible for such costs under this Lease, including through Operating Expenses) within thirty (30) days after presentation of a reasonably detailed invoice
demonstrating the expenses incurred by Tenant. In no event shall Tenant be entitled to offset any amounts owed by Landlord to Tenant under this Lease; provided, however, if Tenant prevails in any arbitration proceeding pursuant to the terms of
Exhibit I attached hereto confirming Landlord’s obligation to reimburse Tenant (a “Final Order”), then Tenant may offset the amount of
such Final Order against Base Rent to the extent Landlord has not paid the same to Tenant. 
 ARTICLE 9 

COVENANT AGAINST LIENS 

Tenant shall keep the Project, Building and Premises free from any liens or encumbrances arising out of the work performed, materials
furnished or obligations incurred by or on behalf of Tenant (other than by Landlord or Landlord’s contractors), and shall protect, defend, indemnify and hold Landlord harmless from and against any claims, liabilities, judgments or costs
(including, without limitation, reasonable attorneys’ fees and costs) arising out of same or in connection therewith. Tenant shall give Landlord notice at least twenty (20) days prior to the commencement of any such work on the Premises
(or such additional time as may be necessary under applicable laws) to afford Landlord the opportunity of posting and recording appropriate notices of non-responsibility. Tenant shall remove any such lien or
encumbrance by bond or otherwise within ten (10) business days after written notice by Landlord, and if Tenant shall fail to do so, Landlord may pay the amount necessary to remove such lien or encumbrance, without being responsible for
investigating the validity thereof. The amount so paid shall be deemed Additional Rent under this Lease payable within thirty (30) days following demand, without limitation as to other remedies available to Landlord under this Lease. Nothing
contained in this Lease shall authorize Tenant to do any act which shall subject Landlord’s title to the Project, Building or Premises to any liens or encumbrances whether claimed by operation of law or express or implied contract. 

  
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 ARTICLE 10 

INSURANCE 
 10.1
Indemnification and Waiver. Except to the extent arising from the negligence or willful misconduct of, or breach of this Lease, by Landlord or any Landlord Parties (defined below) but subject to Section 10.5
below, Tenant hereby assumes all risk of damage to property or injury to persons in, upon or about the Premises from any cause whatsoever and agrees that Landlord, its parent, its partners, subpartners and their respective officers, agents,
servants, employees, and independent contractors (collectively, “Landlord Parties”) shall not be liable for, and are hereby released from any responsibility for, any damage either to person or property or resulting from the loss of
use thereof, which damage is sustained by Tenant or by other persons claiming through Tenant. Subject to Section 10.5 below, Tenant shall indemnify, defend, protect, and hold harmless the Landlord Parties for any loss,
cost, damage, expense and liability (including without limitation court costs and reasonable attorneys’ fees) to the extent incurred in connection with or arising from (a) any occurrence within the Premises, (b) the negligence or
willful misconduct of Tenant or of any person claiming by, through or under Tenant, or of the contractors, agents or employees of Tenant who are at the Project at Tenant’s requests, as well as guests of Tenant occurring in, on or about the
Project but outside of the Premises, or (c) any breach of the terms of this Lease, either prior to, during, or after the expiration of the Lease Term, provided that the terms of the foregoing indemnity shall not apply to the negligence or
willful misconduct of Landlord or any Landlord Party. Should Landlord be named as a defendant in any suit brought against Tenant for which Tenant’s indemnity obligation is applicable, Tenant shall pay to Landlord its reasonable and actual out-of-pocket costs and expenses incurred in such suit, including without limitation, its actual professional fees such as appraisers’, accountants’ and
attorneys’ fees. Subject to Section 10.5 below, Landlord shall indemnify, defend, protect, and hold harmless Tenant, its partners, and their respective officers, agents, servants, employees, and independent contractors
(collectively, “Tenant Parties”) from any and all loss, cost, damage, expense and liability (including without limitation reasonable attorneys’ fees) arising from the negligence or willful misconduct of, or breach of this Lease
by, Landlord or any Landlord Party in, on or about the Project, except to the extent caused by the negligence or willful misconduct of the Tenant Parties. Should Tenant be named as a defendant in any suit brought against Landlord for which
Landlord’s indemnity obligation is applicable, Landlord shall pay to Tenant its reasonable and actual out-of-pocket costs and expenses incurred in such suit,
including without limitation, its actual professional fees such as appraisers’, accountants’ and attorneys’ fees. Notwithstanding anything to the contrary set forth in this Lease, either party’s agreement to indemnify the other
party as set forth in this Section 10.1 shall be ineffective to the extent the matters for which such party agreed to indemnify the other party are covered by insurance required to be carried by the non-indemnifying party pursuant to this Lease. Further, Tenant’s agreement to indemnify Landlord and Landlord’s agreement to indemnify Tenant pursuant to this Section 10.1 are not
intended to and shall not relieve any insurance carrier of its obligations under policies required to be carried pursuant to the provisions of this Lease, to the extent such policies cover, or if carried, would have covered the matters, subject to
the parties’ respective indemnification obligations; nor shall they supersede any inconsistent agreement of the parties set forth in any other provision of this Lease. The provisions of this Section 10.1 shall survive
the expiration or sooner termination of this Lease with respect to any claims or liability arising in connection with any event occurring prior to such expiration or termination. 

  
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 10.2 Landlord’s Fire and Casualty Insurance. Landlord shall insure the
Building during the Lease Term against loss or damage due to fire and other casualties covered within the classification of fire and extended coverage, vandalism coverage and malicious mischief, sprinkler leakage, water damage and special extended
coverage. Such coverage shall be in such amounts, from such companies, and on such other terms and conditions, as Landlord may from time to time reasonably determine. Landlord shall also carry rent continuation insurance. Additionally, at the option
of Landlord, such insurance coverage may include the risks of earthquakes and/or flood damage and additional hazards, a rental loss endorsement and one or more loss payee endorsements in favor of the holders of any mortgages or deeds of trust
encumbering the interest of Landlord in the Building or the ground or underlying lessors of the Building, or any portion thereof. Tenant shall, at Tenant’s expense, promptly following notice, comply with all insurance company requirements
pertaining to the use of the Premises. If Tenant’s conduct or use of the Premises causes any increase in the premium for such insurance policies then Tenant shall reimburse Landlord for any such increase. Tenant, at Tenant’s expense, shall
comply with all rules, orders, regulations or requirements of the American Insurance Association (formerly the National Board of Fire Underwriters) and with any similar body. 

10.3 Tenant’s Insurance. Tenant shall maintain the following coverages in the following amounts. 

10.3.1 Commercial General Liability Insurance covering the insured against claims of bodily injury, personal injury and property damage
(including loss of use thereof) arising out of Tenant’s operations, and contractual liabilities (covering the performance by Tenant of its indemnity agreements) on an occurrence form including a Broad Form endorsement covering the insuring
provisions of this Lease and the performance by Tenant of the indemnity agreements set forth in Section 10.1 of this Lease, for limits of liability not less than reflected below. Such insurance shall contain a cross-liability clause or endorsement: 
  

			
	 Bodily Injury and

Property Damage Liability
	  	 $5,000,000 each occurrence
 $5,000,000 annual
aggregate – Per location
 0% Self-Insured retention

		
	 Personal Injury

Liability
	  	 $3,000,000 annual aggregate
 0% Self-Insured retention
  
 Notwithstanding the
foregoing, the above limits may be satisfied by a general liability policy in the amount of $1,000,000 each occurrence and $2,000,000 annual aggregate for each instance of bodily injury or property damage liability, and an umbrella policy of not
less than $4,000,000 (i.e., providing a total coverage of $5,000,000 each occurrence and $5,000,000 annual aggregate for each instance of bodily injury or property damage liability) so long as all other requirements under this
Article 10 are met.

  
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 10.3.2 Physical Damage Insurance covering (i) all office furniture, business and trade
fixtures, office equipment, free-standing cabinet work, movable partitions, merchandise and all other items of Tenant’s property on the Premises installed by, for, or at the expense of Tenant,
(ii) the “Tenant Improvements,” as that term is defined in Section 2.1 of the Tenant Work Letter, and any other improvements which exist in the Premises as of the Lease Commencement Date (excluding the Base
Building) (the “Original Improvements”), and (iii) all other improvements, alterations and additions to the Premises. Such insurance shall be written on an “all risks” of physical loss or damage basis, for the full
replacement cost value (subject to reasonable deductible amounts) new without deduction for depreciation of the covered items and in amounts that meet any co-insurance clauses of the policies of insurance and
shall include coverage for damage or other loss caused by fire or other peril including, but not limited to, vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage, bursting or stoppage of pipes, and
explosion, and providing business interruption coverage for a period of one (1) year. 
 10.3.3 Automobile Liability with minimum limits
of $1,000,000 combined single limit for owned (if any), non-owned and hired automobile. 
 10.3.4
Worker’s Compensation – State Statutory Limits and Employer’s Liability with minimum limits of $1,000,000 or other similar insurance pursuant to all applicable state and local statutes and regulations. 

10.3.5 Business Income Interruption for one (1) year plus Extra Expense insurance in such amounts as will reimburse Tenant for actual
direct or indirect loss of earnings attributable to the risks outlined in Section 10.3.2 above. 
 10.4 Form
of Policies. The minimum limits of policies of insurance required of Tenant under this Lease shall in no event limit the liability of Tenant under this Lease. Such insurance shall (i) name Landlord, and any other party the Landlord
reasonably specifies in writing, as an additional insured, including Landlord’s managing agent, if any; (ii) cover the liability assumed by Tenant under this Lease, including, but not limited to, Tenant’s obligations under
Section 10.1 of this Lease; (iii) be issued by an insurance company having a rating of not less than A-VII in Best’s Insurance Guide or which is otherwise acceptable to
Landlord and licensed to do business in the State of California; (iv) be primary insurance as to all claims thereunder and provide that any insurance carried by Landlord is excess and is non-contributing
with any insurance requirement of Tenant; (v) be in form and content reasonably acceptable to Landlord (it being acknowledged that Landlord’s receipt of Tenant’s certificates of insurance evidencing the coverage required pursuant to
the terms of this Article 10 shall be deemed acceptable to Landlord); and (vi) use commercially reasonable efforts to obtain the agreement of the insurer to give prior notice to Landlord of any cancellation or
termination of coverage. Tenant shall deliver said policy or policies or certificates thereof to Landlord on or before the Lease Commencement Date and before the expiration dates thereof. In the event Tenant shall fail to procure such insurance, or
to deliver such policies or certificate, Landlord may, at its option with notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of
bills therefor. 

  
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 10.5 Subrogation. Landlord and Tenant intend that their respective property
loss risks shall be borne by reasonable insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the
extent that such coverage is agreed to be provided hereunder or is actually covered by insurance maintained by a party hereto. Accordingly, notwithstanding any other provision of this Lease to the contrary, the parties each hereby waive all rights
and claims against each other for such losses, and waive all rights of subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right to the insured to recover thereunder. The parties agree that their
respective insurance policies are now, or shall be, endorsed such that the waiver of subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged therefor. 

10.6 Additional Insurance Obligations. Tenant shall carry and maintain during the entire Lease Term, at Tenant’s sole cost
and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 10 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and
Tenant’s operations therein, as may be reasonably requested by Landlord; provided, however, that in no event shall such new or increased amounts or types of insurance exceed that required of comparable tenants by landlords of the First
Class Buildings. 
 ARTICLE 11 

DAMAGE AND DESTRUCTION 

11.1 Repair of Damage to Premises by Landlord. Tenant shall promptly notify Landlord of any damage to the Premises resulting
from fire or any other casualty. If the Premises or any Common Areas serving or providing access to the Premises or any Building Systems necessary for the use and occupancy of the Premises shall be damaged by fire or other casualty, Landlord will,
as soon as reasonably possible following the date of the damage, deliver to Tenant an estimate of the time necessary to repair the damage in question such that the Premises may be used by and accessible to Tenant and the Building and Common Areas
operable in a manner consistent with the operation prior to such damage; such notice will be based upon the review and opinions of Landlord’s architect and contractor (“Landlord’s Completion Notice”).
Landlord shall promptly and diligently, subject to reasonable delays for insurance adjustment or other matters beyond Landlord’s reasonable control, and subject to all other terms of this Article 11, restore the Base
Building and such Common Areas. Such restoration shall be to substantially the same condition of the Base Building and the Common Areas prior to the casualty, except for modifications required by zoning and building codes and other laws or by the
holder of a mortgage on the Building or the Project or any other modifications to the Common Areas deemed desirable by Landlord, provided that access to the Premises and any common restrooms serving the Premises shall not be materially impaired.
Upon the occurrence of any damage to the Premises, upon notice (the “Landlord Repair Notice”) to Tenant from Landlord delivered on or before the date that is sixty (60) days after the date of the damage, Tenant shall assign to
Landlord (or to any party designated by Landlord) rights to receive insurance proceeds payable to Tenant under Tenant’s insurance required under clauses (ii) and (iii) of Section 10.3.2 of this Lease, and Landlord
shall repair any injury or damage to the Tenant Improvements and the Original Improvements and shall return such Tenant Improvements and Original Improvements to their original condition (any such 

  
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work will be competitively bid by Landlord to ensure that Landlord receives commercially reasonable pricing for the performance of such work so that, to the extent reasonably possible, the cost
of such work does not unnecessarily exceed the proceeds of Tenant’s insurance); provided that if the cost of such repair by Landlord exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, as assigned
by Tenant, the portion of the cost of such repairs which is not so covered by Tenant’s insurance proceeds shall be paid by Tenant to Landlord prior to Landlord’s commencement of repair of the damage. In the event that Landlord does not
deliver the Landlord Repair Notice within sixty (60) days following the date the casualty becomes known to Landlord, Tenant shall, at its sole cost and expense, repair any injury or damage to the Tenant Improvements and the Original
Improvements installed in the Premises and shall return such Tenant Improvements and Original Improvements to their original condition, or an alternate condition described by Tenant (but subject to Landlord’s prior written approval). Whether or
not Landlord delivers a Landlord Repair Notice, prior to the commencement of construction, Tenant shall submit to Landlord, for Landlord’s review and approval, all plans, specifications and working drawings relating thereto (it being
acknowledged that the cost to prepare such plans may be paid for out of the applicable insurance proceeds received by Tenant), and Landlord shall approve the contractors to perform such improvement work. Landlord shall not be liable for any
inconvenience or annoyance to Tenant or its visitors, or injury to Tenant’s business resulting in any way from such damage or the repair thereof; provided however, that if such fire or other casualty shall have damaged the Premises, Common
Areas or Building Systems necessary to Tenant’s occupancy, Landlord shall allow Tenant a proportionate abatement of Rent, during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease, and
not occupied by Tenant as a result thereof; provided, further, however, that if the damage or destruction is due to the negligence or willful misconduct of Tenant or any of its agents, employees, contractors, invitees or guests, Tenant shall be
responsible for any reasonable, applicable insurance deductible (which shall be payable to Landlord upon demand, not to materially exceed the levels of deductibles for such insurance then maintained by owners of First Class Buildings). In the
event that Landlord shall not deliver the Landlord Repair Notice, Tenant’s right to rent abatement pursuant to the preceding sentence shall terminate as of the date which is reasonably determined by Landlord to be the date Tenant should have
completed repairs to the Premises assuming Tenant used reasonable due diligence in connection therewith. 
 11.2 Landlord’s Option
to Repair. Notwithstanding the terms of Section 11.1 of this Lease, Landlord may elect not to rebuild and/or restore the Premises, Building and/or the Project, and instead terminate this Lease, by notifying Tenant
in writing of such termination within sixty (60) days after the date of discovery of the damage, such notice to include a termination date giving Tenant sixty (60) days to vacate the Premises, but Landlord may so elect only if the Building
or the Project shall be damaged by fire or other casualty or cause, whether or not the Premises are affected, and one or more of the following conditions is present: (i) in Landlord’s reasonable judgment, as set forth in Landlord’s
Completion Notice, the repairs cannot reasonably be completed so as to render the Premises suitable for occupancy within two hundred seventy (270) days after the date of discovery of the damage (when such repairs are made without the payment of
overtime or other premiums); (ii) the holder of any mortgage on the Building or the Project or ground lessor with respect to the Building or the Project shall require that the insurance proceeds or any portion thereof be used to retire the mortgage
debt, or shall terminate the ground lease (if any), as the case may be; (iii) at least Two Million Dollars ($2,000,000.00) of the cost of repair of the damage is not fully covered by Landlord’s insurance policies; or (iv) the damage
materially 

  
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affects the Building and occurs during the last twelve (12) months of the Lease Term; provided, however, that if such fire or other casualty shall have damaged the Premises or a portion
thereof or Common Areas necessary to Tenant’s occupancy and as a result of such damage the Premises are unfit for occupancy, and provided that Landlord does not elect to terminate this Lease pursuant to Landlord’s termination right as
provided above, and either (a) the repairs cannot, in the reasonable opinion of Landlord’s contractor, as set forth in Landlord’s Completion Notice, be completed within two hundred seventy (270) days after being commenced, or
(b) the damage occurs during the last twelve months of the Lease Term and will reasonably require in excess of ninety (90) days to repair, Tenant may elect, no earlier than sixty (60) days after the date of the damage and not later
than the later of (A) forty-five (45) days following the date of delivery of Landlord’s Completion Notice, and (B) ninety (90) days after the date of the damage, to terminate this Lease by
written notice to Landlord effective as of the date specified in the notice, which date shall not be less than thirty (30) days nor more than sixty (60) days after the date such notice is given by Tenant. In addition, if such restoration
is not substantially complete on or before the later of (i) the date that occurs fifteen (15) months after the date of discovery of the damage, and (ii) the date that occurs one hundred eighty (180) days after the expiration of
the estimated period of time to substantially complete such restoration, as set forth in Landlord’s Completion Notice (the “Outside Restoration Date”), then Tenant shall have the additional right during the first
ten (10) business days of each calendar month following the Outside Restoration Date until such repairs are complete, to terminate this Lease by delivery of written notice to Landlord (the “Damage Termination Notice”),
which termination shall be effective on a date specified by Tenant in such Damage Termination Notice (the “Damage Termination Date”), which Damage Termination Date shall not be less than ten (10) business days, nor greater than
thirty (30) days, following the date such Damage Termination Notice was delivered to Landlord. In the event this Lease is terminated in accordance with the terms of this Section 11.2, Tenant shall assign to Landlord
(or to any party designated by Landlord) all insurance proceeds payable to Tenant under Tenant’s insurance required under subsections (ii) and (iii) of Section 10.3.2 of this Lease. 

11.3 Waiver of Statutory Provisions. The provisions of this Lease, including this Article 11,
constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building or the Project, and any statute or regulation of the State of California, including,
without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, and any other statute or
regulation, now or hereafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises, the Building or the Project. 

ARTICLE 12 

NONWAIVER 
 No
provision of this Lease shall be deemed waived by either party hereto unless expressly waived in a writing signed thereby. The waiver by either party hereto of any breach of any term, covenant or condition herein contained shall not be deemed to be
a waiver of any subsequent breach of same or any other term, covenant or condition herein contained. The subsequent acceptance of Rent hereunder by Landlord shall not be deemed to be a waiver of any preceding breach by Tenant of any term, covenant
or condition of this Lease, other than the failure of Tenant 

  
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to pay the particular Rent so accepted, regardless of Landlord’s knowledge of such preceding breach at the time of acceptance of such Rent. No acceptance of a lesser amount than the Rent
herein stipulated shall be deemed a waiver of Landlord’s right to receive the full amount due, nor shall any endorsement or statement on any check or payment or any letter accompanying such check or payment be deemed an accord and satisfaction,
and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the full amount due. No receipt of monies by Landlord from Tenant after the termination of this Lease shall in any way alter the length of the Lease
Term or of Tenant’s right of possession hereunder, or after the giving of any notice shall reinstate, continue or extend the Lease Term or affect any notice given Tenant prior to the receipt of such monies, it being agreed that after the
service of notice or the commencement of a suit, or after final judgment for possession of the Premises, Landlord may receive and collect any Rent due, and the payment of said Rent shall not waive or affect said notice, suit or judgment. No payment
of Rent by Tenant after a breach by Landlord shall be deemed a waiver of any breach by Landlord. 
 ARTICLE 13 

CONDEMNATION 
 If
the whole or any material part of the Premises, Building or the Project shall be taken by power of eminent domain or condemned by any competent authority for any public or quasi-public use or purpose, or if
any adjacent property or street shall be so taken or condemned, or reconfigured or vacated by such authority in such manner as to require the use, reconstruction or remodeling of any material part of the Premises, Building or the Project, or if
Landlord shall grant a deed or other instrument in lieu of such taking by eminent domain or condemnation, Landlord shall have the option to terminate this Lease effective as of the date possession is required to be surrendered to the authority;
provided, however, that to the extent that the Premises are not adversely affected by such taking and Landlord continues to operate the Building as an office building, Landlord may not terminate this Lease. If more than twenty-five percent (25%) of the rentable square feet of the Premises is taken, or if access to the Premises is substantially impaired, in each case for a period in excess of one hundred eighty (180) days,
Tenant shall have the option to terminate this Lease effective as of the date possession is required to be surrendered to the authority. Tenant shall not because of such taking assert any claim against Landlord or the authority for any compensation
because of such taking and Landlord shall be entitled to the entire award or payment in connection therewith, except that Tenant shall have the right to file any separate claim available to Tenant for any taking of Tenant’s personal property
and fixtures belonging to Tenant and removable by Tenant upon expiration of the Lease Term pursuant to the terms of this Lease, and for moving expenses, so long as such claims do not diminish the award available to Landlord, its ground lessor with
respect to the Building or the Project or its mortgagee, and such claim is payable separately to Tenant. All Rent shall be apportioned as of the date of such termination. If any part of the Premises shall be taken, and this Lease shall not be so
terminated, the Rent shall be proportionately abated. Tenant hereby waives any and all rights it might otherwise have pursuant to Section 1265.130 of The California Code of Civil Procedure. Notwithstanding anything to the contrary contained in
this Article 13, in the event of a temporary taking of all or any portion of the Premises for a period of one hundred and eighty (180) days or less, then this Lease shall not terminate but the Base Rent and the
Additional Rent shall be abated for the period of such taking in proportion to the ratio that the amount of rentable square feet of the Premises taken bears to the total rentable square feet of the Premises. Landlord shall be entitled to receive the
entire award made in connection with any such temporary taking. 

  
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 ARTICLE 14 

ASSIGNMENT AND SUBLETTING 

14.1 Transfers. Except as otherwise specifically provided or permitted in this Article 14, Tenant
shall not, without the prior written consent of Landlord (not to be unreasonably withheld, conditioned, or delayed), assign, mortgage, pledge, hypothecate, encumber, or permit any lien to attach to, or otherwise transfer, this Lease or any interest
hereunder, permit any assignment, or other transfer of Tenant’s interest in this Lease or any interest hereunder by operation of law, sublet the Premises or any part thereof, or enter into any license or concession agreements or otherwise
permit the occupancy or use of the Premises or any part thereof by any persons other than Tenant and its employees and contractors (all of the foregoing are hereinafter sometimes referred to collectively as “Transfers” and any
person to whom any Transfer is made or sought to be made is hereinafter sometimes referred to as a “Transferee”). If Tenant desires Landlord’s consent to any Transfer, Tenant shall notify Landlord in writing, which notice (the
“Transfer Notice”) shall include (i) the proposed effective date of the Transfer, which shall not be less than twenty (20) days nor more than one hundred eighty (180) days after the date of delivery of the Transfer
Notice, (ii) a description of the portion of the Premises to be transferred (the “Subject Space”), (iii) all of the terms of the proposed Transfer and the consideration therefor, including calculation of the “Transfer
Premium”, as that term is defined in Section 14.3 below, in connection with such Transfer, the name and address of the proposed Transferee, and a copy of all existing executed and/or proposed documentation pertaining
to the proposed Transfer, including all existing operative documents to be executed to evidence such Transfer or the agreements incidental or related to such Transfer, provided that Landlord shall have the right to require Tenant to utilize
Landlord’s standard Transfer documents in connection with the documentation of such Transfer, (iv) current financial statements of the proposed Transferee certified by an officer, partner or owner thereof, business credit and personal
references and history of the proposed Transferee (provided that Landlord must request such additional information within five (5) business days following the date Tenant delivers the Transfer Notice to Landlord), (v) any other information
required by Landlord which will enable Landlord to determine the financial responsibility, character, and reputation of the proposed Transferee, nature of such Transferee’s business and proposed use of the Subject Space, which information is
requested within five (5) business days following Tenant’s submission to Landlord of the items described in clauses (i), (ii), (iii), (iv) and (vi) of this Section 14.1, and (vi) upon
Landlord’s request, an executed estoppel certificate from Tenant in the form attached hereto as Exhibit E. Any Transfer requiring Landlord’s consent which is made without Landlord’s prior written consent shall, at
Landlord’s option, be null, void and of no effect, and shall, at Landlord’s option, constitute a Default by Tenant under this Lease if not rescinded or terminated within ten (10) business days following notice from Tenant. Whether or
not Landlord consents to any proposed Transfer, Tenant shall pay Landlord’s review and processing fees, as well as any reasonable professional fees (including, without limitation, attorneys’, accountants’, architects’,
engineers’ and consultants’ fees) incurred by Landlord, provided that such amount shall not be in excess of $2,000.00 in the aggregate, for a Transfer which (as reasonably determined by Landlord) does not require (A) analysis of
Transfer documentation, or (B) negotiation of a consent document, within thirty (30) days after written request by Landlord. 

  
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 14.2 Landlord’s Consent. Landlord shall not unreasonably withhold its
consent to any proposed Transfer of the Subject Space to the Transferee on the terms specified in the Transfer Notice and shall grant or withhold such consent within thirty (30) days following the date upon which Landlord receives a
“complete” Transfer Notice from Tenant (i.e., a Transfer Notice that includes all documents and information required pursuant to Section 14.1 of this Lease, above). If Landlord fails to timely deliver to Tenant
notice of Landlord’s consent, or the withholding of consent, to a proposed Transfer, Tenant may send a second (2nd) notice to Landlord, which notice must contain the following inscription, in
bold faced lettering: “SECOND NOTICE DELIVERED PURSUANT TO ARTICLE 14 OF LEASE. FAILURE TO TIMELY RESPOND WITHIN TWO (2) BUSINESS DAYS SHALL RESULT IN DEEMED APPROVAL OF ASSIGNMENT OR
SUBLEASE.” If Landlord fails to deliver notice of Landlord’s consent to, or the withholding of Landlord’s consent, to the proposed assignment or sublease within such
2-day period, Landlord shall be deemed to have granted its consent to the proposed Transfer. If Landlord at any time timely delivers notice to Tenant or Landlord’s withholding of consent to a proposed
assignment or sublease, Landlord shall specify in reasonable detail in such notice, the basis for such withholding of consent. Without limitation as to other reasonable grounds for withholding consent, the parties hereby agree that it shall be
reasonable under this Lease and under any applicable law for Landlord to withhold consent to any proposed Transfer where one or more of the following apply: 

14.2.1 The Transferee is of a character or reputation or engaged in a business which is not consistent with the quality of the Building or the
Project; 
 14.2.2 The Transferee intends to use the Subject Space for purposes which are not permitted under applicable zoning requirements;

 14.2.3 The Transferee is either a governmental agency or instrumentality thereof; provided, however, that Tenant shall be entitled to
assign, sublet or otherwise transfer to a governmental agency or instrumentality thereof to the extent Landlord has leased or has permitted the lease of space to a comparable (in terms of security, foot traffic, prestige, eminent domain and function
oriented issues) governmental agency or instrumentality thereof in comparably located space of comparable size; 
 14.2.4 The Transferee is
not a party of reasonable financial worth and/or financial stability in light of the responsibilities to be undertaken in connection with the Transfer on the date consent is requested; or 

14.2.5 The proposed Transfer would cause a violation of another lease for space in the Project, or would give an occupant of the Project a
right to cancel its lease. 
 14.2.6 Either the proposed Transferee, or any person or entity which directly or indirectly, controls, is
controlled by, or is under common control with, the proposed Transferee, is then currently engaged in active negotiations with Landlord (meaning letters of intent or lease proposals have been exchanged between the parties), for space within the
Project (and, in such latter instance, Landlord has [or reasonably anticipates it will have] available space in the Project suitable to meet such proposed Transferee’s occupancy needs). 

  
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 If Landlord consents to any Transfer pursuant to the terms of this
Section 14.2, Tenant may within six (6) months after Landlord’s consent (or deemed consent), but not later than the expiration of said six-month period, enter into such
Transfer of the Premises or portion thereof, upon substantially the same terms and conditions as are set forth in the Transfer Notice furnished by Tenant to Landlord pursuant to Section 14.1 of this Lease, provided that if
there are any changes in the terms and conditions from those specified in the Transfer Notice such that Landlord would initially have been entitled to refuse its consent to such Transfer under this Section 14.2, Tenant
shall again submit the Transfer to Landlord for its approval and other action under this Article 14. Notwithstanding anything to the contrary in this Lease, if Tenant or any proposed Transferee claims that Landlord has
unreasonably withheld or delayed its consent under Section 14.2 or otherwise has breached or acted unreasonably under this Article 14, their sole remedies shall be a suit for contract damages
(other than damages for injury to, or interference with, Tenant’s business including, without limitation, loss of profits, however occurring) or a declaratory judgment and an injunction for the relief sought without any monetary damages, and
Tenant hereby waives the provisions of Section 1995.310 of the California Civil Code, or any successor statute, and all other remedies, including, without limitation, any right at law or equity to terminate this Lease, on its own behalf and, to
the extent permitted under all applicable laws, on behalf of the proposed Transferee. 
 14.3 Transfer Premium. If Landlord
consents to a Transfer, as a condition thereto which the parties hereby agree is reasonable, Tenant shall pay to Landlord fifty percent (50%) of any “Transfer Premium,” as that term is defined in this
Section 14.3, received by Tenant from such Transferee. It is understood and agreed that no Transfer Premium shall be payable with respect to any transfer to a Permitted Transferee as provided below in
Section 14.7. “Transfer Premium” shall mean all rent, additional rent or other consideration payable by such Transferee in connection with the Transfer in excess of the Rent and Additional Rent payable by
Tenant under this Lease during the term of the Transfer on a per rentable square foot basis if less than all of the Premises is transferred, after deducting the reasonable expenses incurred by Tenant for (i) any changes, alterations and
improvements to the Premises in connection with the Transfer, (ii) any free base rent reasonably provided to the Transferee, (iii) marketing costs associated with such Transfer, (iv) reasonable attorneys’ fees incurred in the
documentation and negotiation of such Transfer and (v) any brokerage commissions in connection with the Transfer. “Transfer Premium” shall also include, but not be limited to, key money, bonus money or other cash consideration
paid by Transferee to Tenant in connection with such Transfer, and any payment in excess of fair market value for services rendered by Tenant to Transferee or for assets, fixtures, inventory, equipment, or furniture transferred by Tenant to
Transferee in connection with such Transfer. For purposes of calculating any such effective rent all such concessions shall be amortized on a straight-line basis over the relevant term. 

14.4 Effect of Transfer. If Landlord consents to a Transfer, (i) the terms and conditions of this Lease shall in no way be
deemed to have been waived or modified, (ii) such consent shall not be deemed consent to any further Transfer by either Tenant or a Transferee, (iii) Tenant shall deliver to Landlord, promptly after execution, an original executed copy of
all documentation pertaining to the Transfer in form reasonably acceptable to Landlord, (iv) Tenant shall furnish 

  
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upon Landlord’s request a complete statement, certified by an independent certified public accountant, or Tenant’s chief financial officer, setting forth in detail the computation of
any Transfer Premium Tenant has derived and shall derive from such Transfer, and (v) no Transfer relating to this Lease or agreement entered into with respect thereto, whether with or without Landlord’s consent, shall relieve Tenant or any
guarantor of the Lease from any liability under this Lease, including, without limitation, in connection with the Subject Space. Landlord or its authorized representatives shall have the right at all reasonable times and upon reasonable prior
written notice to audit the books, records and papers of Tenant relating to any Transfer, and shall have the right to make copies thereof. If the Transfer Premium respecting any Transfer shall be found understated, Tenant shall, within thirty
(30) days after demand, pay the deficiency, and if understated by more than two percent (2%), Tenant shall pay Landlord’s reasonable costs of such audit. 

14.5 Intentionally Omitted. 

14.6 Occurrence of Default. Any Transfer hereunder shall be subordinate and subject to the provisions of this Lease, and if this
Lease shall be terminated during the term of any Transfer, Landlord shall have the right to: (i) treat such Transfer as cancelled and repossess the Subject Space by any lawful means, or (ii) require that such Transferee attorn to and
recognize Landlord as its landlord under any such Transfer. If Tenant shall be in Default, and Landlord has terminated (or is diligently pursuing the termination of) this Lease, Landlord is hereby irrevocably authorized, as Tenant’s agent and attorney-in-fact, to direct any Transferee to make all payments under or in connection with the Transfer directly to Landlord (which Landlord shall apply towards Tenant’s
obligations under this Lease) until such Default is cured. Such Transferee shall rely on any representation by Landlord that Tenant is in Default hereunder, without any need for confirmation thereof by Tenant. Upon any assignment, the assignee shall
assume in writing all obligations and covenants of Tenant thereafter to be performed or observed under this Lease. No collection or acceptance of rent by Landlord from any Transferee shall be deemed a waiver of any provision of this
Article 14 or the approval of any Transferee or a release of Tenant from any obligation under this Lease, whether theretofore or thereafter accruing. In no event shall Landlord’s enforcement of any provision of this
Lease against any Transferee be deemed a waiver of Landlord’s right to enforce any term of this Lease against Tenant or any other person. If Tenant’s obligations hereunder have been guaranteed, Landlord’s consent to any Transfer shall
not be effective unless the guarantor also consents to such Transfer. 
 14.7 Deemed Consent Transfers. Notwithstanding
anything to the contrary contained in this Lease, (A) an assignment or subletting of all or a portion of the Premises to an “Affiliate” of Tenant (an entity which is controlled by, controls, or is under common control with,
Tenant as of the date of the assignment or subletting), (B) an assignment of Tenant’s interest in this Lease to an entity which acquires all or substantially all of the stock or assets of Tenant and has a tangible net worth equal to or greater
than that of Tenant immediately prior to such assignment, or (C) an assignment of this Lease to an entity which is the resulting or surviving entity of a merger or consolidation of Tenant during the Lease Term and has a tangible net worth equal
to or greater than that of Tenant immediately prior to such assignment, shall not be deemed a Transfer requiring Landlord’s consent (nor Tenant’s payment of any Transfer Premium) under this Article 14 or
triggering Landlord’s rights under Section 14.3 (any such assignee or sublessee described in items (A) through (C) of this Section 14.7 hereinafter referred to as a “Permitted
Transferee”), 

  
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provided that (i) Tenant notifies Landlord at least five (5) business days prior to the effective date of any such assignment or sublease (unless such prior notice is prohibited by
applicable law or the terms of an applicable confidentiality agreement, in which event Tenant shall notify Landlord as soon as permissible) and promptly supplies Landlord with any documents or information reasonably requested by Landlord regarding
such transfer or transferee as set forth above, (ii) such assignment or sublease is not a subterfuge by Tenant to avoid its obligations under this Lease, and (iii) no assignment relating to this Lease, whether with or without
Landlord’s consent, shall relieve Tenant from any liability under this Lease, and, in the event of an assignment of Tenant’s entire interest in this Lease, the liability of Tenant and such transferee shall be joint and several. An assignee
of Tenant’s entire interest in this Lease who qualifies as a Permitted Transferee may also be referred to herein as a “Permitted Transferee Assignee”. “Control”, as used in this
Section 14.7, shall mean the ownership, directly or indirectly, of at least twenty-five percent (25%) of the voting securities of, or possession of the right to vote, in the ordinary
direction of its affairs, of at least twenty-five percent (25%) of the voting interest in, any person or entity, or an ownership interest in an entity that includes a right to appoint a member of the board of
directors of such entity. 
 14.8 Recapture. Notwithstanding anything to the contrary contained in this Section, if Tenant
delivers a Transfer Notice to Landlord with respect to Subject Space that comprises substantially all of the space then leased by Tenant, and if the term of such assignment or sublease (as set forth in the Transfer Notice) is for substantially the
remainder of the current Lease Term, then Landlord shall have the option, by giving notice to Tenant within twenty (20) days after receipt of any such Transfer Notice, to recapture the Subject Space. Such recapture notice shall cancel and
terminate this Lease with respect to the Subject Space as of the effective date of the proposed Transfer (or upon the demise of the Subject Space separate from the Premises if the Subject Space being recaptured is less than the entire Premises).
Upon request of either party, the parties shall execute written confirmation of the foregoing. The provisions of this Section shall not apply to any Permitted Transfer. 

ARTICLE 15 

SURRENDER OF PREMISES; OWNERSHIP AND 

REMOVAL OF TRADE FIXTURES 

15.1 Surrender of Premises. No act or thing done by Landlord or any agent or employee of Landlord during the Lease Term shall be
deemed to constitute an acceptance by Landlord of a surrender of the Premises unless such intent is specifically acknowledged in writing by Landlord. The delivery of keys to the Premises to Landlord or any agent or employee of Landlord shall not
constitute a surrender of the Premises or effect a termination of this Lease, whether or not the keys are thereafter retained by Landlord, and notwithstanding such delivery Tenant shall be entitled to the return of such keys at any reasonable time
upon request until this Lease shall have been properly terminated. Subject to the terms of this Article 15, the voluntary or other surrender of this Lease by Tenant, whether accepted by Landlord or not, or a mutual
termination hereof, shall not work a merger, and at the option of Landlord shall operate as an assignment to Landlord of all subleases or subtenancies affecting the Premises or terminate any or all such sublessees or subtenancies. 

  
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 15.2 Removal of Tenant Property by Tenant. Upon the expiration of the Lease
Term, or upon any earlier termination of this Lease, Tenant shall, subject to the provisions of this Article 15, quit and surrender possession of the Premises to Landlord in good order and condition, reasonable wear and
tear, damage caused by casualty (which shall be governed by the terms of Article 11 of this Lease) and repairs which are specifically made the responsibility of Landlord hereunder excepted. Landlord and Tenant hereby
acknowledge and agree that except as specifically provided herein, Tenant’s rights and obligations regarding the removal of Tenant’s improvements in the Premises shall be governed by the terms of Article 8 of this
Lease. Upon such expiration or termination, Tenant shall, without expense to Landlord, remove or cause to be removed from the Premises all debris and rubbish, and such items of furniture, equipment, business and trade fixtures, free-standing cabinet work, movable partitions and other articles of personal property, including all voice and data cabling, owned by Tenant or installed or placed by Tenant at its expense in the Premises, and such
similar articles of any other persons claiming under Tenant, as Landlord may, in its sole discretion, require to be removed, and Tenant shall repair at its own expense all damage to the Premises and Building resulting from such removal.
Notwithstanding anything contained in this Lease to the contrary, upon the expiration or earlier termination of this Lease, Tenant shall not be obligated to remove or restore any of the initial Tenant Improvements except as set forth in
Article 8 of this Lease, Tenant may leave floor and wall coverings in their existing “as-is” condition, and Tenant shall have no obligation to repaint or install new floor
coverings or to repair any floor penetrations caused by Tenant’s Permitted Use (so long as same are in the ordinary course of general office improvements). 

ARTICLE 16 

HOLDING OVER 
 If
Tenant holds over after the expiration of the Lease Term or earlier termination thereof, with or without the express or implied consent of Landlord, such tenancy shall be from
month-to-month only, and shall not constitute a renewal hereof or an extension for any further term, and in such case Rent shall be payable at a monthly rate equal to
(i) one hundred twenty-five percent (125%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease for the first
(1st) two (2) months of such holdover, and (ii) one hundred fifty percent (150%) thereafter plus one hundred percent (100%) of all Additional Rent. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. Nothing contained in this Article 16 shall be construed as consent by
Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration or other termination of this Lease. The provisions
of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant fails to surrender the Premises upon the termination or expiration of
this Lease, provided Landlord notifies Tenant in writing at least thirty (30) days prior to such liabilities accruing, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold
Landlord harmless from all loss, costs (including reasonable attorneys’ fees) and liability resulting from such failure, including, without limiting the generality of the foregoing, any claims made by any succeeding tenant founded upon such
failure to surrender and any lost profits to Landlord resulting therefrom. 

  
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 ARTICLE 17 

ESTOPPEL CERTIFICATES 

Within ten (10) business days following a request in writing by Landlord or Tenant, Tenant or Landlord, as applicable, shall execute, and
deliver to the other an estoppel certificate, which shall be substantially in the form of Exhibit E, attached hereto (or such other commercially reasonable form as may be required by any prospective mortgagee or purchaser of the
Project, or any portion thereof, or any assignee or sublessee), indicating therein any exceptions thereto that may exist at that time, and shall also contain any other information reasonably requested by the requesting party, Landlord’s
mortgagee or prospective mortgagee or purchasers or Tenant’s Transferee. Tenant shall execute and deliver whatever other instruments may be reasonably required for such purposes. Failure of Tenant or Landlord to timely execute and deliver such
estoppel certificate or other instrument shall, if such failure is not cured within three (3) business days after receipt of an additional written notice from the other, constitute an acceptance of the Premises and an acknowledgment by the
failing party that statements included in the estoppel certificate are true and correct, without exception. 
 ARTICLE 18 

SUBORDINATION 

This Lease shall be subject and subordinate to all present and future ground or underlying leases of the Building or the Project and to the
lien of any mortgage, trust deed or other encumbrances now or hereafter in force against the Building or the Project or any part thereof, if any, and to all renewals, extensions, modifications, consolidations and replacements thereof, and to all
advances made or hereafter to be made upon the security of such mortgages or trust deeds, unless the holders of such mortgages, trust deeds or other encumbrances, or the lessors under any applicable ground lease or underlying leases, require in
writing that this Lease be superior thereto (collectively, the “Superior Holders”). Landlord shall cause the holder of any deed of trust encumbering the Project to execute and deliver to Tenant a subordination, non-disturbance and attornment agreement (a “SNDA”) in a commercially reasonable form concurrently with Landlord’s execution and delivery of this Lease. In consideration of and a condition
precedent to Tenant’s agreement to subordinate this Lease to any future mortgage, trust deed or other encumbrances, shall be the receipt by Tenant of an SNDA executed by Landlord and the appropriate Superior Holder. Tenant covenants and agrees
in the event any proceedings are brought for the foreclosure of any such mortgage or deed in lieu thereof (or if any ground lease is terminated), to attorn, without any deductions or set-offs whatsoever, to
the lienholder or purchaser or any successors thereto upon any such foreclosure sale or deed in lieu thereof (or to the ground lessor), if so requested to do so by such purchaser or lienholder or ground lessor, and to recognize such purchaser or
lienholder or ground lessor as the lessor under this Lease, provided such lienholder or purchaser or ground lessor shall agree to accept this Lease and not disturb Tenant’s occupancy, so long as Tenant timely pays the rent and observes and
performs the terms, covenants and conditions of this Lease to be observed and performed by Tenant. Landlord’s interest herein may be assigned as security at any time to any lienholder. Tenant shall, within ten (10) days of request by
Landlord, execute such further instruments or assurances as Landlord may reasonably deem necessary to evidence or confirm the subordination or superiority of this Lease to any such mortgages, trust deeds, ground leases or underlying leases. Tenant
waives the provisions of any current or future statute, rule or law which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease and the obligations of the Tenant hereunder in the event of any
foreclosure proceeding or sale. 

  
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 ARTICLE 19 

DEFAULTS; REMEDIES 

19.1 Events of Default. The occurrence of any of the following shall constitute a “Default” of this Lease by
Tenant: 
 19.1.1 Any failure by Tenant to pay any Rent or any other charge required to be paid under this Lease, or any part thereof, within
five (5) business days after Tenant’s receipt of written notice from Landlord that said amount was not paid when due; or 
 19.1.2
Any failure by Tenant to observe or perform any other provision, covenant or condition of this Lease to be observed or performed by Tenant where such failure continues for thirty (30) days after written notice thereof from Landlord to Tenant;
provided that if the nature of such default is such that the same cannot reasonably be cured within a thirty (30) day period, Tenant shall not be deemed to be in default if it diligently commences such cure within such period and
thereafter diligently proceeds to rectify and cure such default; or 
 19.1.3 Abandonment of the Premises by Tenant pursuant to California
Civil Code Section 1951.3; or 
 19.1.4 The failure by Tenant to observe or perform according to the provisions of Articles 5,
10, 14, 17 or 18 of this Lease where such failure continues for more than five (5) business days after notice from Landlord; or 

The notice periods provided herein are in lieu of, and not in addition to, any notice periods provided by law. 

19.2 Remedies Upon Default. Upon the occurrence of any event of default by Tenant beyond the expiration of any applicable notice
and cure periods set forth in this Lease, Landlord shall have, in addition to any other remedies available to Landlord at law or in equity (all of which remedies shall be distinct, separate and cumulative), the option to pursue any one or more of
the following remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever (except as required by law). 

19.2.1 Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord
may, without prejudice to any other remedy which it may have for possession or arrearages in rent, enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof,
without being liable for prosecution or any claim or damages therefor; and Landlord may recover from Tenant the following: 

  
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 (i) The worth at the time of any unpaid rent which has been earned at the time of such
termination; plus 
 (ii) The worth at the time of award of the amount by which the unpaid rent which would have been earned after
termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 

(iii) The worth at the time of award of the amount by which the unpaid rent for the balance of the Lease Term after the time of award exceeds
the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 
 (iv) Any other amount necessary to compensate
Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, specifically including but not limited to,
brokerage commissions and advertising expenses incurred, expenses of remodeling the Premises or any portion thereof for a new tenant, whether for the same or a different use, and any special concessions made to obtain a new tenant; and 

(v) At Landlord’s election, such other amounts in addition to (but to the extent not duplicative of) or in lieu of the foregoing as may
be permitted from time to time by applicable law. 
 The term “rent” as used in this Section 19.2 shall
be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, including without limitation Base Rent, Tenant’s Share of Direct Expenses and parking charges, whether to Landlord or to
others. As used in Section 19.2.1(i) and (ii), above, the “worth at the time of award” shall be computed by allowing interest at the rate set forth in Article 25 of this Lease, but
in no case greater than the maximum amount of such interest permitted by law. As used in Section 19.2.1(iii) above, the “worth at the time of award” shall be computed by discounting such amount at the discount
rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). 
 19.2.2 Landlord shall have the remedy
described in California Civil Code Section 1951.4 (lessor may continue lease in effect after lessee’s breach and abandonment and recover rent as it becomes due, if lessee has the right to sublet or assign, subject only to reasonable
limitations). Accordingly, if Landlord does not elect to terminate this Lease on account of any default by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies under this Lease, including
the right to recover all rent as it becomes due. 
 19.2.3 Landlord shall at all times have the rights and remedies (which shall be
cumulative with each other and cumulative and in addition to those rights and remedies available under Sections 19.2.1 and 19.2.2, above, or any law or other provision of this Lease), without prior demand or notice
except as required by applicable law, to seek any declaratory, injunctive or other equitable relief, and specifically enforce this Lease, or restrain or enjoin a violation or breach of any provision hereof. 

  
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 19.3 Subleases of Tenant. Whether or not Landlord elects to terminate this
Lease on account of any default by Tenant, as set forth in this Article 19, Landlord shall have the right to terminate any and all subleases, licenses, concessions or other consensual arrangements for possession entered
into by Tenant and affecting the Premises or may, in Landlord’s sole discretion, succeed to Tenant’s interest in such subleases, licenses, concessions or arrangements. In the event of Landlord’s election to succeed to Tenant’s
interest in any such subleases, licenses, concessions or arrangements, Tenant shall, as of the date of notice by Landlord of such election, have no further right to or interest in the rent or other consideration receivable thereunder. 

19.4 Efforts to Relet. No re-entry or repossession, repairs, maintenance, changes,
alterations and additions, reletting, appointment of a receiver to protect Landlord’s interests hereunder, or any other action or omission by Landlord shall be construed as an election by Landlord to terminate this Lease or Tenant’s right
to possession, or to accept a surrender of the Premises, nor shall the same operate to release Tenant in whole or in part from any of Tenant’s obligations hereunder, unless express written notice of such intention is sent by Landlord to Tenant.
Tenant hereby irrevocably waives any right otherwise available under any law to redeem or reinstate this Lease. 
 19.5 Landlord
Default. 
 19.5.1 General. Notwithstanding anything to the contrary set forth in this Lease, Landlord shall not be in
default in the performance of any obligation required to be performed by Landlord pursuant to this Lease unless Landlord fails to perform such obligation within thirty (30) days after the receipt of notice from Tenant specifying in detail
Landlord’s failure to perform; provided, however, if the nature of Landlord’s obligation is such that more than thirty (30) days are required for its performance, then Landlord shall not be in default under this Lease if it shall
commence such performance within such thirty (30) day period and thereafter diligently pursues the same to completion. Upon any such default by Landlord under this Lease, Tenant may, except as otherwise specifically provided in this Lease to
the contrary, exercise any of its rights provided at law or in equity; provided that Tenant hereby waives any claim for punitive, consequential or speculative damages, including claims of lost profit or lost opportunity. Landlord and Tenant
acknowledge and agree that the terms of this Section 19.5.1 shall not alter Tenant’s self-help rights under the terms of Section 8.6 of this Lease, and
that such self-help rights are separate and independent from Tenant’s rights under the terms of this Section 19.5.1. 

19.5.2 Abatement of Rent. In the event that Tenant is prevented from using, and does not use, the Premises or any portion
thereof, as a result of (i) any repair, maintenance or alteration performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of
the Premises, the Project parking facilities and/or the Building, (ii) any failure to provide services, utilities or access to the Premises, the Project parking facilities and/or the Building as required by this Lease, or (iii) the
presence of Hazardous Substances in, on or around the Premises, the Building or the Project which could pose a health risk to occupants of the Premises and which was not brought to the Project by Tenant or any Tenant Parties (either such set of
circumstances as set forth in items (i)-(iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord notice of such Abatement Event (which notice, for the purpose of
determining the effective date of delivery, will be deemed given when delivered to the Project’s property management office during Building Hours), and if such Abatement Event continues for four (4) consecutive business days or ten
(10) business days in any twelve (12) month period after Landlord’s receipt of any such notice (the “Eligibility Period”), then the Base Rent, Tenant’s 

  
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Share of Direct Expenses, and Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the
Eligibility Period for such time that Tenant continues to be so prevented from using, and does not use for the normal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the rentable area of the portion of
the Premises that Tenant is prevented from using, and does not use, bears to the total rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of
time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such
time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to
pay for parking shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied
portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. To the
extent an Abatement Event is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to abate rent shall be governed by the terms of such Article 11 or 13, as applicable,
and the Eligibility Period shall not be applicable thereto. Such right to abate Base Rent and Tenant’s Share of Direct Expenses shall be Tenant’s sole and exclusive remedy for rent abatement at law or in equity for an Abatement Event.
Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder. To the extent Tenant has prepaid rent (as it does each month since Rent
is due on the first day of each month) and Tenant is subsequently entitled to an abatement, such prepaid, and subsequently abated, Rent shall be (A) credited to the Rent next coming due under this Lease, or, if the Lease Term has expired or the
Lease has been terminated in accordance with the terms hereof, (B) refunded to Tenant within thirty (30) days following such expiration or earlier termination. 

ARTICLE 20 

COVENANT OF QUIET ENJOYMENT 

Landlord covenants that Tenant, on paying the Rent, charges for services and other payments herein reserved and on keeping, observing and
performing all the other terms, covenants, conditions, provisions and agreements herein contained on the part of Tenant to be kept, observed and performed, shall, during the Lease Term, peaceably and quietly have, hold and enjoy the Premises subject
to the terms, covenants, conditions, provisions and agreements hereof without interference by any persons lawfully claiming by or through Landlord. The foregoing covenant is in lieu of any other covenant express or implied. 

  
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 ARTICLE 21 

TENANT’S DOGS 

21.1 In General. Subject to applicable laws and the provisions of this Section 21.1, and further
subject to any additional reasonable rules and regulations as may be promulgated by Landlord from time to time, Tenant shall be permitted to bring up to a maximum of five (5) non-aggressive, fully-domesticated, fully-vaccinated, and potty-trained dogs into the Premises (which dogs are currently owned by Tenant or its
employees). The aforementioned dogs shall, individually or collectively, be referred to herein as “Tenant’s Dogs”. Tenant agrees that all Tenant’s Dogs shall be less than eighty (80) pounds in weight
each. Tenant represents and warrants that none of Tenant’s Dogs are of the following breeds of dog (or a mix comprised of one or more of the following): Pit Bull, Chow, Alaskan Malamutes, Rottweiler, Doberman, Husky, Rhodesian Ridgeback or
Presa Canario. Tenant’s Dogs shall enter the Premises only through an entrance designated by Landlord and shall not be permitted in any Building lobbies. Tenant’s Dogs shall be strictly controlled and supervised at all times by
Tenant’s employees (including, without limitation, by keeping Tenant’s Dogs on leashes at all times while in the Common Areas). Within fifteen (15) days following Tenant’s receipt of Landlord’s request therefor, Tenant shall
provide Landlord with satisfactory evidence showing that all current vaccinations, flea treatments, and training certifications (if any) have been received by Tenant’s Dogs. Tenant’s Dogs must have both heartworm and flea and tick
prevention on a monthly basis, and none of Tenant’s Dogs shall be brought to the Building in the event one (1) of Tenant’s Dogs becomes ill or contracts a disease that could potentially threaten the health or wellbeing of any
occupants of the Building (which diseases may include, but shall not be limited to, rabies, leptospirosis and Lyme disease). Tenant shall not permit any objectionable dog related noises or odors to emanate from the Premises, and in no event shall
Tenant’s Dogs be kept in the Building overnight. Without limiting the foregoing, in no event shall Tenant allow opened dog food to be left out for more than one (1) day. Tenant’s Dogs shall not be permitted to enter into any core area
bathrooms in the Building at any time. Tenant’s Dogs shall not bark excessively or otherwise create a nuisance at the Building. All bodily waste generated by Tenant’s Dogs in or about the Building or the Common Areas outside the Building
shall be immediately removed and disposed of in trash receptacles designated by Landlord, and any areas of the Building affected by such waste shall be cleaned and otherwise sanitized to a condition consistent with Landlord’s commercially
reasonable standards applicable thereto. Tenant’s Dogs shall not be permitted to enter the Building if Tenant’s Dogs previously exhibited dangerously aggressive behavior. Tenant’s Dogs shall not interfere with other tenants,
licensees, invitees or those having business in the Building. Notwithstanding any provision to the contrary contained in the Lease, Landlord shall have the right at any time to (i) rescind Tenant’s right to have Tenant’s Dogs in the
Building if, in Landlord’s reasonable discretion, at least three (3) times in a twelve (12) month period, any of Tenant’s Dogs are found to be a substantial nuisance to the Building (for purposes hereof, Tenant’s Dogs
may found to be a “substantial nuisance” if, without limitation, any of Tenant’s Dogs repeatedly defecates in the common areas or damages the Building or any property at the Building that is not in the Premises) (the
“Substantial Nuisance”), or (ii) rescind Tenant’s right to have a particular dog in the Building if, in Landlord’s reasonable discretion, that dog (a) commits an act which is a Substantial Nuisance;
(b) Landlord receives complaints from any Building tenant as a result of that dog being present at or outside of the Building, not including the Premises; or (c) Landlord receives any notice of violation or default of any Applicable Laws
or any covenants, conditions, restrictions or matters of record affecting the Building as a result of that dog. 
 21.2 Costs and
Expenses. Tenant shall be fully responsible for all costs and expenses associated with Tenant’s Dogs, relating to the costs of repairing any damage caused by Tenant’s Dogs to the Building or any common areas outside of the Building
to Landlord’s satisfaction. Tenant shall pay to Landlord, within five (5) business days after demand therefor, all costs incurred by Landlord in connection with Tenant’s Dogs presence in the Building, relating to janitorial, waste
disposal, landscaping, signage, repair, administrative, and legal costs and expenses. 

  
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 21.3 Indemnity. Without limiting the other provisions of this Lease, Tenant
hereby agrees to protect, defend, indemnify and hold Landlord and its subsidiaries, partners, and affiliates and their respective members, shareholders, officers, directors, agents, employees and contractors, and each of them, harmless from and
against any and all third party claims arising from Tenant’s Dogs in the Building, including (i) all actual damages arising or resulting from Tenant’s Dogs in the Building, (ii) any violation of any applicable laws, regulations,
ordinances or any covenants, conditions, restrictions or matters of record affecting the Building and (ii) any personal injuries or property damage. The foregoing indemnity shall survive the expiration or earlier termination of the Lease. 

21.4 Rights Personal to Original Tenant. Tenant’s right to bring Tenant’s Dogs into the Premises pursuant to this
Article 21 is personal to the Tenant. 
 ARTICLE 22 

LETTER OF CREDIT 

22.1 Letter of Credit. Tenant shall deposit with Landlord promptly following the mutual execution and delivery of this Lease
(and the effectiveness of this Lease shall be expressly conditioned upon such deposit of the Letter of Credit by Tenant with Landlord), an unconditional (except to the extent the same may be conditioned to the extent set forth in this Section),
clean, unconditional, irrevocable, renewable and transferable letter of credit (together with all renewals and replacements thereof, the “Letter of Credit”) substantially in the form attached hereto as Exhibit J,
and in the amount of the Security Deposit (set forth in Item 9 of the Summary), which amount, in either case, shall be reduced from time to time in accordance with the provisions of this Article 22, issued by and drawn on a
bank which is a member of the New York Clearing House and which has a banking office dedicated to the administration and payment of letters of credit in the State of California (or permits draws by facsimile or overnight mail to an office outside
the State of California), which bank must be reasonably satisfactory to Landlord, for the account of Landlord, for an initial term of not less than one (1) year and shall provide for its automatic renewal from year to year unless terminated by
the issuing bank or replaced by Tenant with another bank reasonably acceptable to Landlord by notice to Landlord given not less than thirty (30) days prior to its expiration date by registered or certified mail (and the final expiration date of
the final Letter of Credit shall be no earlier than thirty (30) days following the end of the Term), as security for the faithful performance and observance by Tenant of the terms, conditions and provisions of this Lease, including the
surrender of possession of the Premises to Landlord as herein provided. Landlord hereby approves First Choice Bank as issuing bank, provided that U.S. Bank National Association acts as confirming bank with respect to such Letter of Credit
(each, an “Approved Bank”). Additionally, the Letter of Credit (i) may be drawn at the State of California banking office of the issuer (or by facsimile or overnight mail to an office outside the State of California) and must
allow for draws to be made at sight pursuant to a form of draw request which has been reasonably approved by Landlord; (ii) must allow for one draw in the whole amount or multiple partial draws upon certification from Landlord that the amounts
are being drawn in accordance with the terms of this Lease (and Landlord shall not, as a condition to any draw, be required to 

  
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deliver any certificate, affidavit or other writing to the issuer expressing the specific basis for the draw; nor shall the issuer have the right to inquire as to the basis for the draw or
require instruction or authorization from any party other than Landlord; nor shall issuer be permitted to withhold a draw, when requested by Landlord, as a result of any instruction from any other party); (iii) shall be freely transferable, in
whole, but not in part, by Landlord to any purchaser of the Project, or any lender with a first lien security interest in the Project; (iv) shall be governed by (A) the International Standby Practices (SP 98 published by the International
Chamber of Commerce) or (B) the United Nations Convention on Independent Guarantees and Standby Letters of Credit; and (v) shall otherwise be in such form and shall be subject to such requirements as Landlord may reasonably require.
Without limiting the generality of the foregoing, but without contradicting the express terms set forth above, the Letter of Credit must be issued by a bank or financial institution (except to the extent the same is an Approved Bank) reasonably
acceptable to Landlord (x) that is chartered under the laws of the United States, any state thereof or the District of Columbia, and which is insured by the Federal Deposit Insurance Corporation, (y) whose
long-term debt ratings on bank level senior debt obligations are rated in not lower than the second highest category by at least two of Fitch Ratings Ltd. (“Fitch”), Moody’s
Investors Service, Inc. (“Moody’s”) and Standard & Poor’s Ratings Services (“S&P”) or their respective successors (collectively, the “Rating Agencies”) (which,
as of the date hereof, shall mean AA from Fitch, Aa from Moody’s or AA from S&P) and (z) which has a short-term deposit rating at the bank level in the highest category from at least two Rating
Agencies (which shall mean F1 from Fitch, P-1 from Moody’s and A-1 from S&P). 

Tenant shall be required to maintain the Letter of Credit in the amount of the Security Deposit in full force and effect throughout the Term
of the Lease, or otherwise deposit the applicable amount of cash with Landlord. Accordingly, Tenant shall renew any Letter of Credit from time to time, at least thirty (30) days prior to the expiration thereof, and deliver to Landlord a new
Letter of Credit in the amount of the Security Deposit or an endorsement to the Letter of Credit, and any other evidence reasonably required by Landlord, that the Letter of Credit has been renewed for a period of at least one (1) year. If
Tenant fails to renew the Letter of Credit as aforesaid, Landlord may present the Letter of Credit for payment on or after the date which is ten (10) Business Days prior to the expiration thereof and retain the proceeds thereof as security in
lieu of the Letter of Credit. Upon delivery to Landlord of any new or replacement Letter of Credit, Landlord shall return to Tenant for cancellation, together with any reasonable evidence required by the issuer authorizing cancellation, any Letter
of Credit then held by Landlord. If Tenant shall have fully complied with all of the covenants and conditions of the Lease, the Letter of Credit shall be returned to Tenant or, if Landlord has drawn on the Letter of Credit, the remaining proceeds of
the Letter of Credit which are in excess of sums due the Landlord shall be repaid to Tenant, without interest, within thirty (30) days after the expiration or termination of the Lease, delivery of possession of the Premises by Tenant to
Landlord in accordance with the Lease, and the satisfaction by Tenant of all of its obligations under the Lease. 

  
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 Notwithstanding anything to the contrary contained in this Lease, the Security Deposit shall
be reduced in accordance with the following schedule: 
  

									
	 Reduction Date
	  	Reduction Amount	 	  	Security Deposit Amount after
Reduction	 
	 Last day of the 48th month of the initial
Term
	  	$	271,428.57	 	  	$	1,628,571.50	 
	 Last day of the 60th month of the initial
Term
	  	$	271,428.57	 	  	$	1,357,143.00	 
	 Last day of the 72nd month of the initial
Term
	  	$	271,428.57	 	  	$	1,085,714.50	 
	 Last day of the 84th month of the initial
Term
	  	$	271,428.57	 	  	$	814,286.00	 
	 Last day of the 96th month of the initial
Term
	  	$	271,428.57	 	  	$	542,856.43	 
	 Last day of the 108th month of the initial
Term
	  	$	271,428.57	 	  	$	271,428.57	 
	 Last day of the 120th month of the initial
Term
	  	$	316,666.66	 	  	$	-0-  	 

 Tenant agrees and acknowledges that the foregoing Security Deposit reduction schedule is conditioned upon no
event of Default occurring (beyond the expiration of any applicable notice and cure periods set forth in this Lease) on more than three (3) occasions during any twelve (12) month period and/or no event of Default existing under this
Lease (beyond the expiration of any applicable notice and cure periods set forth in this Lease). In the event an event of Default occurs (beyond the expiration of any applicable notice and cure periods set forth in this Lease) on more than three
(3) occasions during any twelve (12) month period and/or an event of Default exists under this Lease (beyond the expiration of any applicable notice and cure periods set forth in this Lease), then the foregoing reduction schedule shall be
null and void and Tenant not be entitled to any further reduction of the Security Deposit. 
 To the extent Tenant is permitted to replace
or reduce the Letter of Credit pursuant to the terms hereof, Landlord agrees to reasonably cooperate with Tenant, at no cost or expense to Landlord, in connection with Tenant’s efforts to effectuate any such replacement or reduction. 

ARTICLE 23 

SIGNS; ROOF RIGHTS 

23.1 Within Premises. Subject to Landlord’s prior written approval, in its reasonable discretion, and provided all signs
are in keeping with the quality, design and style of the Building and the Project, Tenant, at its sole cost and expense, may install identification signage anywhere in the Premises, provided that such signs must not be visible from the exterior of
the Building. 
 23.2 Prohibited Signage and Other Items. Any signs, notices, logos, pictures, names or advertisements which
are installed which are visible from the exterior of the Premises and that have not been separately approved by Landlord may be removed at the sole expense of Tenant upon three (3) business days’ prior written notice by Landlord. Except as
described in Section 23.3 

  
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below, Tenant may not install any signs on the exterior or roof of the Project or the Common Areas. Any signs, window coverings, or blinds (even if the same are located behind the Landlord-approved window coverings for the Building), or other items visible from the exterior of the Premises or Building, shall be subject to the prior approval of Landlord, in its sole discretion. 

23.3 Exterior Signage. 

23.3.1 Monument Signage. As of the mutual execution and delivery of this Lease and continuing throughout the Lease Term,
as the same may be extended, and subject to obtaining all required governmental approvals, Original Tenant and any Affiliate or Permitted Transferee Assignee, at Tenant’s sole cost and expense, shall have the
non-exclusive right to install (including the fabrication of the sign panel) its name and logo on one (1) monument sign to be installed by Landlord, in the approximate location set forth and as generally
shown on Exhibit H attached hereto (the “Monument Sign”). As shown in Exhibit H, Landlord confirms that Tenant’s sign panel shall be in the second highest position on the Monument
Sign. Notwithstanding the foregoing, Landlord shall have the right to assume responsibility for the fabrication of Tenant’s Monument Sign panel, in which event Tenant shall reimburse Landlord for Landlord’s reasonable cost of such
fabrication within twenty (20) days following a written request therefor. Landlord shall work with Tenant to obtain City approval of such Monument Sign. Any such installation, repair and/or maintenance shall be subject to compliance with
Applicable Laws and Landlord’s prior approval, which approval shall not be unreasonably withheld, conditioned or delayed. Landlord shall be entitled to grant exterior signage rights to other tenants in the Project, so long as Tenant’s
right to install and maintain signage at the Project as set forth in this Article 23 (including Tenant’s right to the Monument Sign) is not diminished or affected as a result. Landlord and Tenant shall use commercially
reasonable efforts to complete the installation of Tenant’s Monument Sign in a timely manner following the mutual execution and delivery of this Lease, and the parties acknowledge and agree that, to the extent the requirements set forth in this
Section 23.2.1 are satisfied prior to the Lease Commencement Date, Tenant shall be permitted to install the Monument Sign prior to the Lease Commencement Date. 

23.3.2 Signage Rights to Other Tenants. Subject to the terms of Article 23, Landlord is entitled to
grant exterior signage rights to third parties. 
 23.3.3 Removal of Signage. Upon the expiration or earlier termination of
this Lease (or the termination of any of Tenant’s signage rights as described in Section 23.3 above), Tenant shall, at Tenant’s sole cost and expense, cause all of Tenant’s applicable signage to be removed
(including the Monument Sign panel) and shall cause such signage to be restored to the condition existing prior to the placement of such signage. If Tenant fails to remove such signage as provided in the immediately preceding sentence within thirty
(30) days following the expiration or earlier termination of this Lease (or termination of Tenant’s signage rights), then Landlord may perform such work, and all costs and expenses incurred by Landlord in so performing such work shall be
reimbursed by Tenant to Landlord within thirty (30) days after Tenant’s receipt of an invoice therefor. The immediately preceding sentence shall survive the expiration or earlier termination of this Lease. Any signs, notices, logos,
pictures, names or advertisements which are installed and that have not been individually approved by Landlord may be removed upon notice by Landlord at the sole expense of Tenant. 

  
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 23.4 Name Change. If Tenant changes its name at any time, Tenant shall have
the right, at Tenant’s cost, to make such changes to its signage as necessary to reflect the changed name, and may modify or change existing signs to do so. Any such changes or alterations to existing signage at the Project shall be subject to
compliance with Applicable Laws and Landlord’s prior approval as to the shape, size and location of any such changes or alterations, which approval shall not be unreasonably withheld, conditioned or delayed. To the extent Tenant desires to
change the name and/or logo set forth on new or existing signs, such name and/or logo shall not have a name which relates to an entity which is of a character or reputation, or is associated with a political faction or orientation, which is
inconsistent with the quality of the Project, or which would otherwise reasonably offend a landlord of the First Class Buildings (an “Objectionable Name”). 

23.5 Building Directory. Landlord shall, at its expense, provide a proportionate share of Tenant identification on the main
directory located in the Building lobby. Any changes to Tenant’s identification on such directory shall be made by Landlord at Tenant’s sole expense. 

ARTICLE 24 

COMPLIANCE WITH LAW 

Tenant shall not do anything or permit anything to be done in or about the Premises which will in any way conflict with any law, statute,
ordinance or other governmental rule, regulation or requirement now in force or which may hereafter be enacted or promulgated (collectively, “Applicable Laws”). At its sole cost and expense, Tenant shall promptly comply with all
Applicable Laws which relate to (i) Tenant’s use of the Premises, (ii) any Alterations made by Tenant to the Premises, and any Tenant Improvements in the Premises, or (iii) the Base Building, but as to the Base Building, only to
the extent such obligations are triggered by Alterations made by Tenant to the Premises, or triggered by the Tenant Improvements to the extent such Tenant Improvements are not normal and customary business office improvements, or triggered by
Tenant’s use of the Premises. Tenant shall not, however, be responsible for the cost of complying with Applicable Laws to the extent that any such compliance is required as a result of the Base Building (including the Base, Shell and Core
constructed by Landlord) failing to comply with Applicable Laws in effect as of the date of delivery of the Premises to Tenant and unrelated to any of the items set forth in subparagraphs (i), (ii) and (iii) of the preceding sentence. Should
any standard or regulation now or hereafter be imposed on Tenant by a state, federal or local governmental body charged with the establishment, regulation and enforcement of occupational, health or safety standards for employers, employees,
landlords or tenants, then Tenant agrees, at its sole cost and expense, to comply promptly with such standards or regulations; provided, however, that Landlord shall be responsible for any changes to the Building Structure and the Building Systems
(except to the extent triggered by any of the items identified in subparagraph (i), (ii) or (iii) above). Tenant shall be responsible, at its sole cost and expense, to make all alterations to the Premises as are required to comply with the
governmental rules, regulations, requirements or standards described in this Article 24; provided that except as specifically stated in this Article 24, Tenant shall not be obligated to make any
changes to the Building Structure or the Building Systems. The judgment of any court of competent jurisdiction or the admission of Tenant in any judicial action, regardless of whether Landlord is a party thereto, that Tenant has violated any of said
governmental measures, shall be conclusive of that fact as between Landlord and Tenant. Tenant shall promptly pay all fines, penalties and damages that may arise out of or be 

  
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imposed because of its failure to comply with the provisions of this Article 24. Landlord shall comply with all Applicable Laws relating to the Common Areas and the Base
Building, provided that compliance with such Applicable Laws is not the responsibility of Tenant under this Lease, and provided further that Landlord’s failure to comply therewith would prohibit Tenant from obtaining or maintaining a
certificate of occupancy for the Premises (or its legal equivalent), or would unreasonably and materially affect the safety of Tenant’s employees or invitees, would materially adversely affect Tenant’s use of, or access to, the Premises,
or create a material health hazard for Tenant’s employees. In the event any hazardous materials exist (A) in the Premises prior to Landlord’s delivery to Tenant of the Premises for the construction of the Tenant Improvements, or
(B) in the Base Building, and in each case such hazardous materials are (I) not brought onto the Premises or the Base Building by Tenant, and (II) required by law to be removed from the Premises or the Base Building, as applicable,
Landlord shall remove such hazardous materials at its sole cost and expense. Landlord shall be permitted to include in Operating Expenses any costs or expenses incurred by Landlord under this Article 24 to the extent
consistent with the terms of Section 4.2.4 above. Landlord hereby acknowledges and agrees that nothing contained in this Article 24 shall be deemed to alter or modify Landlord’s obligation, as
set forth in the Tenant Work Letter, to deliver the Premises and the Base Building to Tenant in the conditions required by the terms of the Tenant Work Letter, including, as applicable, the Schedules attached thereto. 

ARTICLE 25 

LATE CHARGES 
 If
any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee within five (5) business days after said amount is due, then Tenant shall pay to Landlord a late charge equal to five percent
(5%) of the overdue amount plus any attorneys’ fees incurred by Landlord by reason of Tenant’s failure to pay Rent and/or other charges when due hereunder; notwithstanding the foregoing to the contrary, Tenant shall be entitled to notice
of non-payment and a five (5) business day grace period prior to the imposition of such late charge on the first (1st) occasion in any Lease Year in
which any installment of Rent is not timely paid by Tenant. The late charge shall be deemed Additional Rent and the right to require it shall be in addition to all of Landlord’s other rights and remedies hereunder or at law and shall not be
construed as liquidated damages or as limiting Landlord’s remedies in any manner. In addition to the late charge described above, any Rent or other amounts owing hereunder which are not paid within ten (10) business days after the date
they are due shall bear interest from the date when due until paid at a rate per annum equal to the lesser of (i) the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release Publication H.15(519),
published weekly (or such other comparable index as Landlord and Tenant shall reasonably agree upon if such rate ceases to be published) plus two (2) percentage points, and (ii) the highest rate permitted by applicable law. 

  
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 ARTICLE 26 

LANDLORD’S RIGHT TO CURE DEFAULT; PAYMENTS BY TENANT 

26.1 Landlord’s Cure. All covenants and agreements to be kept or performed by Tenant under this Lease shall be performed by
Tenant at Tenant’s sole cost and expense and without any reduction of Rent, except to the extent, if any, otherwise expressly provided herein. If Tenant shall fail to perform any obligation under this Lease, and such failure shall continue in
excess of the time allowed under Section 19.1.2, above, unless a specific time period is otherwise stated in this Lease, Landlord may, but shall not be obligated to, after the delivery of reasonable prior notice to Tenant,
make any such payment or perform any such act on Tenant’s part without waiving its rights based upon any default of Tenant and without releasing Tenant from any obligations hereunder. 

26.2 Tenant’s Reimbursement. Except as may be specifically provided to the contrary in this Lease, Tenant shall pay to
Landlord, within thirty (30) days following delivery by Landlord to Tenant of statements therefor: (i) sums equal to expenditures reasonably made and obligations incurred by Landlord in connection with the remedying by Landlord of
Tenant’s Defaults pursuant to the provisions of Section 26.1; (ii) sums equal to all losses, costs, liabilities, damages and expenses referred to in Article 10 of this Lease; and
(iii) sums equal to all expenditures made and obligations incurred by Landlord in collecting or attempting to collect any past due Rent, including, without limitation, all legal fees and other amounts so expended. Tenant’s obligations
under this Section 26.2 shall survive the expiration or sooner termination of the Lease Term. 
 ARTICLE 27

 ENTRY BY LANDLORD 

Landlord reserves the right at all reasonable times and upon not less than
forty-eight (48) hours’ notice to Tenant (except in the case of an emergency) to enter the Premises to (i) inspect them; (ii) show the Premises to prospective investors, purchasers, or
to current or prospective mortgagees, ground or underlying lessors or insurers or tenants; (iii) post notices of nonresponsibility; or (iv) alter, improve or repair the Premises or the Building, or for structural alterations, repairs or
improvements to the Building or the Building’s systems and equipment. Notwithstanding anything to the contrary contained in this Article 27, Landlord may enter the Premises at any time to (A) perform services
required of Landlord; (B) take possession due to any Default of this Lease in the manner provided herein; and (C) perform any covenants of Tenant which Tenant fails to perform following applicable notice and cure periods. Landlord shall
use commercially reasonable efforts to minimize interference with the conduct of Tenant’s business in connection with such entries into the Premises. Landlord shall use good faith efforts to ensure that the performance of any such work of
repairs or alterations shall not materially interfere with Tenant’s use of the Premises (or any portion thereof) for Tenant’s business purposes (Landlord’s efforts in such regard will include, where reasonably possible, limiting the
performance of any such work which might be disruptive to weekends or the evening and the cleaning of any work area prior to the commencement of the next business day). Landlord may make any such entries without the abatement of Rent (except as
specifically set forth in Section 19.5.2 of this Lease) and may take such reasonable steps as required to accomplish the stated purposes. Tenant hereby waives any claims for damages or for any injuries or inconvenience to
or interference with Tenant’s business, lost profits, any loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned thereby. For each of the above purposes, Landlord shall at all times have a key with which to unlock
all the doors in the Premises, excluding Tenant’s vaults, safes and special security areas designated in advance by Tenant. In an emergency, Landlord shall have the right to use any means that Landlord may deem proper to open the doors in and
to the Premises. 

  
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Notwithstanding anything to the contrary set forth in this Article 27, Tenant may designate in writing certain reasonable areas of the Premises as “Secured
Areas” should Tenant require such areas for the purpose of securing certain valuable property or confidential information. In connection with the foregoing, Landlord shall not enter such Secured Areas except in the event of an emergency.
Landlord need not clean any area designated by Tenant as a Secured Area and shall only maintain or repair such secured areas to the extent (i) such repair or maintenance is required in order to maintain and repair the Base Building;
(ii) as required by Applicable Law, or (iii) in response to specific requests by Tenant and in accordance with a schedule reasonably designated by Tenant, subject to Landlord’s reasonable approval. Any entry into the Premises by
Landlord in the manner hereinbefore described shall not be deemed to be a forcible or unlawful entry into, or a detainer of, the Premises, or an actual or constructive eviction of Tenant from any portion of the Premises. With respect to any entry
onto the Premises made by Landlord in accordance with the terms of this Section 27.1, Tenant shall have the right to have a representative of Tenant accompany Landlord within the Premises, provided that such representative
is made available at the time of Landlord’s entrance onto the Premises, and provided that such representative does not unreasonably interfere with Landlord. No provision of this Lease shall be construed as obligating Landlord to perform any
repairs, alterations or decorations except as otherwise expressly agreed to be performed by Landlord herein. 
 ARTICLE 28 

TENANT PARKING 

Subject to the terms of this Article 28 and Landlord’s obligations under the Development Agreement, Tenant
shall have the obligation to rent from Landlord, commencing on the Lease Commencement Date, the amount of unreserved parking passes set forth in Section 10 of the Summary. In addition, Tenant shall have the right, but not
the obligation, to lease an additional one-half (0.5) unreserved parking pass for every 1,000 rentable square feet of the Premises, upon the terms and conditions and at the rates provided in
Article 28 hereof. Tenant shall pay to Landlord for automobile parking passes on a monthly basis at the rates provided herein based on the location of such parking passes; provided, however, during the first Lease Year of
the Lease Term, Tenant shall be entitled to rent the unreserved parking passes at a rate of Two Hundred Ten and 00/100 Dollars ($210.00) per unreserved parking pass per month and Three Hundred Twenty and 00/100 Dollars ($320.00) per reserved parking
pass per month; and provided further, that commencing on the first anniversary of the Lease Commencement Date and on each anniversary of the Lease Commencement Date throughout the Lease Term (as the same may be extended), such rates shall increase
by three and one-half percent (3.5%) per annum, calculated on a cumulative and compounded basis. The foregoing parking passes may only be utilized by Tenant, its Permitted Transferee Assignees or Affiliates
and any other assignee, sublessee, or transferee of the Tenant’s interest in this Lease. In addition, Tenant shall be responsible for the full amount of any taxes imposed by any governmental authority in connection with the renting of such
parking passes by Tenant or the use of the parking facility by Tenant. Tenant’s continued right to use the parking passes is conditioned upon Tenant abiding by all rules and regulations which are prescribed from time to time for the orderly
operation and use of the parking facility where the parking passes are located, including any sticker or other identification system established by Landlord, Tenant’s cooperation in seeing that Tenant’s employees and visitors also comply
with such rules and regulations and Tenant not being in Default under this Lease. Landlord specifically 

  
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reserves the right to change the size, configuration, design, layout and all other aspects of the Project parking facility at any time and Tenant acknowledges and agrees that Landlord may,
without incurring any liability to Tenant and without any abatement of Rent under this Lease, from time to time, temporarily (for not more than three [3] days unless due to force majeure) close-off or restrict
access to the Project parking facility for purposes of permitting or facilitating any such development at the Project, construction, alteration or improvements; provided, however, that Landlord will use reasonable efforts to provide Tenant with
reasonable advance notice of any such anticipated temporary close-off or restriction in access to the parking facility; provided, however, that Landlord shall not relocate Tenant’s reserved parking
spaces. Landlord may delegate its responsibilities hereunder to a parking operator in which case such parking operator shall have all the rights of control attributed hereby to the Landlord. The parking passes rented by Tenant pursuant to this
Article 28 are provided to Tenant solely for use by Tenant’s own personnel and such passes may not be transferred, assigned, subleased or otherwise alienated by Tenant, except in connection with a Transfer of the
Premises pursuant to Article 14 of this Lease, without Landlord’s prior approval. Tenant may validate visitor parking by such method or methods as the Landlord may establish, at the validation rate from time to time
generally applicable to visitor parking. Landlord shall cause the parking areas to be staffed in a manner reasonably determined by Landlord for efficient and effective parking operations at the Project. 

ARTICLE 29 

MISCELLANEOUS PROVISIONS 

29.1 Terms; Captions. The words “Landlord” and “Tenant” as used herein shall include the plural as well as
the singular. The necessary grammatical changes required to make the provisions hereof apply either to corporations or partnerships or individuals, men or women, as the case may require, shall in all cases be assumed as though in each case fully
expressed. The captions of Articles and Sections are for convenience only and shall not be deemed to limit, construe, affect or alter the meaning of such Articles and Sections. 

29.2 Binding Effect. Subject to all other provisions of this Lease, each of the covenants, conditions and provisions of this
Lease shall extend to and shall, as the case may require, bind or inure to the benefit not only of Landlord and of Tenant, but also of their respective heirs, personal representatives, successors or assigns, provided this clause shall not permit any
assignment by Tenant contrary to the provisions of Article 14 of this Lease. 
 29.3 No Air Rights.
No rights to any view or to light or air over any property, whether belonging to Landlord or any other person, are granted to Tenant by this Lease. If at any time any windows of the Premises are temporarily darkened or the light or view therefrom is
obstructed by reason of any repairs, improvements, maintenance or cleaning in or about the Project, the same shall be without liability to Landlord and without any reduction or diminution of Tenant’s obligations under this Lease. 

29.4 Modification of Lease. Should any current or prospective mortgagee or ground lessor for the Building or the Project require
a modification of this Lease, which modification will not cause an increased cost or expense to Tenant or in any other way materially and adversely change the rights and obligations of Tenant hereunder, then and in such event, Tenant agrees that

  
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this Lease may be so modified and agrees to execute (or make good faith comments to) whatever documents are reasonably required therefor and to deliver the same to Landlord within
thirty (30) days following a request therefor. At the request of Landlord or any mortgagee or ground lessor, Tenant agrees to execute (or make good faith comments to) a short form of Lease and deliver the same to Landlord within thirty
(30) days following the request therefor. 
 29.5 Transfer of Landlord’s Interest. Tenant acknowledges that Landlord
has the right to transfer all or any portion of its interest in the Project or Building and in this Lease, and Tenant agrees that in the event of any such transfer, Landlord shall automatically be released from all liability under this Lease arising
from and after the date of such transfer and Tenant agrees to look solely to such transferee for the performance of Landlord’s obligations hereunder after the date of transfer and such transferee shall be deemed to have fully assumed and be
liable for all obligations of this Lease to be performed by Landlord, including the return of any security deposit, and Tenant shall attorn to such transferee. Tenant further acknowledges that Landlord may assign its interest in this Lease to a
mortgage lender as additional security and agrees that such an assignment shall not release Landlord from its obligations hereunder and that Tenant shall continue to look to Landlord for the performance of its obligations hereunder. 

29.6 Prohibition Against Recording. Except as provided in Section 29.4 of this Lease, neither this
Lease, nor any memorandum, affidavit or other writing with respect thereto, shall be recorded by Tenant or by anyone acting through, under or on behalf of Tenant. 

29.7 Landlord’s Title. Landlord’s title is and always shall be paramount to the title of Tenant. Nothing herein
contained shall empower Tenant to do any act which can, shall or may encumber the title of Landlord. 
 29.8 Relationship of
Parties. Nothing contained in this Lease shall be deemed or construed by the parties hereto or by any third party to create the relationship of principal and agent, partnership, joint venturer or any association between Landlord and Tenant.

 29.9 Application of Payments. Landlord shall have the right to apply payments received from Tenant pursuant to this Lease,
regardless of Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect. 

29.10 Time of Essence. Time is of the essence with respect to the performance of every provision of this Lease in which time of
performance is a factor. 
 29.11 Partial Invalidity. If any term, provision or condition contained in this Lease shall, to any
extent, be invalid or unenforceable, the remainder of this Lease, or the application of such term, provision or condition to persons or circumstances other than those with respect to which it is invalid or unenforceable, shall not be affected
thereby, and each and every other term, provision and condition of this Lease shall be valid and enforceable to the fullest extent possible permitted by law. 

29.12 No Warranty. In executing and delivering this Lease, Tenant has not relied on any representations, including, but not
limited to, any representation as to the amount of any item comprising Additional Rent or the amount of the Additional Rent in the aggregate or that Landlord is furnishing the same services to other tenants, at all, on the same level or on the same
basis, or any warranty or any statement of Landlord which is not set forth herein or in one or more of the exhibits attached hereto. 

  
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 29.13 Landlord Exculpation. The liability of Landlord or the Landlord Parties
to Tenant in a suit brought by Tenant against Landlord for a breach by Landlord of the terms of this Lease shall be limited solely and exclusively to an amount which is equal to the interest of Landlord in the Project, including any condemnation,
awards, rental, sales or insurance proceeds received by Landlord in connection with the Building. Neither Landlord, nor any of the Landlord Parties shall have any personal liability therefor, and Tenant hereby expressly waives and releases such
personal liability on behalf of itself and all persons claiming by, through or under Tenant. The limitations of liability contained in this Section 29.13 shall inure to the benefit of Landlord’s and the Landlord
Parties’ present and future partners, beneficiaries, officers, directors, trustees, shareholders, agents and employees, and their respective partners, heirs, successors and assigns. Under no circumstances shall any present or future partner of
Landlord (if Landlord is a partnership), or trustee or beneficiary (if Landlord or any partner of Landlord is a trust), have any liability for the performance of Landlord’s obligations under this Lease. Notwithstanding any contrary provision
herein, neither Landlord nor the Landlord Parties shall be liable under any circumstances for injury or damage to, or interference with, Tenant’s business, including but not limited to, loss of profits, loss of rents or other revenues, loss of
business opportunity, loss of goodwill or loss of use, in each case, however occurring; similarly, except with respect to Tenant’s violations of the provisions of this Lease regarding Hazardous Materials and Tenant’s holding over in the
Premises following the expiration or sooner termination of this Lease, Tenant shall not be liable under any circumstances for injury or damage to, or interference with, Landlord’s business, including, but not limited to, loss of profits or
other revenues (not including, however, loss of rents), loss of business opportunity, loss of goodwill or loss of use, in each case, however occurring. 

29.14 Entire Agreement. It is understood and acknowledged that there are no oral agreements between the parties hereto affecting
this Lease and this Lease constitutes the parties’ entire agreement with respect to the leasing of the Premises and supersedes and cancels any and all previous negotiations, arrangements, brochures, agreements and understandings, if any,
between the parties hereto or displayed by Landlord to Tenant with respect to the subject matter thereof, and none thereof shall be used to interpret or construe this Lease. None of the terms, covenants, conditions or provisions of this Lease can be
modified, deleted or added to except in writing signed by the parties hereto. 
 29.15 Right to Lease. Landlord reserves the
absolute right to effect such other tenancies in the Project as Landlord in the exercise of its sole business judgment shall determine to best promote the interests of the Building or the Project. Tenant does not rely on the fact, nor does Landlord
represent, that any specific tenant or type or number of tenants shall, during the Lease Term, occupy any space in the Building or the Project. 

29.16 Force Majeure. Any prevention, delay or stoppage due to strikes, lockouts, labor disputes, acts of God, inability to obtain
services, labor, or materials or reasonable substitutes therefor, governmental actions, civil commotions, fire or other casualty, and other causes beyond the reasonable control of the party obligated to perform, except with respect to the
obligations 

  
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imposed with regard to Rent and other charges to be paid by Tenant pursuant to this Lease (collectively, a “Force Majeure”), shall excuse the performance of such party for a
period equal to any such prevention, delay or stoppage and, therefore, if this Lease specifies a time period for performance of an obligation of either party, that time period shall be extended by the period of any delay in such party’s
performance caused by a Force Majeure. The provisions of this Section 29.16 shall not, however, delay (i) the trigger date for Tenant’s right to abatements in Rent as set forth in
Section 19.5.2 above, or (ii) the date upon which Tenant may exercise its right to terminate this Lease following casualty described in Section 11.2 above except as expressly set forth in
Section 11.2. In the event that either party is delayed from performing any obligation hereunder as a result of Force Majeure, such party shall promptly give notice to the other party of the delay in question, specifying in
such notice the nature of the delay and, without any such estimate being deemed a representation or warranty, such party’s good faith estimate of the length of the delay in question. 

29.17 Waiver of Redemption by Tenant. Tenant hereby waives, for Tenant and for all those claiming under Tenant, any and all
rights now or hereafter existing to redeem by order or judgment of any court or by any legal process or writ, Tenant’s right of occupancy of the Premises after any termination of this Lease. 

29.18 Notices. All notices, demands, statements, designations, approvals or other communications (collectively,
“Notices”) given or required to be given by either party to the other hereunder or by law shall be in writing, shall be (A) sent by United States certified or registered mail, postage prepaid, return receipt requested
(“Mail”), (B) transmitted by telecopy, if such telecopy is promptly followed by a Notice sent by Mail, (C) delivered by a nationally recognized overnight courier, or (D) delivered personally. Any Notice shall be sent,
transmitted, or delivered, as the case may be, to Tenant at the appropriate address set forth in Section 10 of the Summary, or to such other place as Tenant may from time to time designate in a Notice to Landlord, or to Landlord at the
addresses set forth below, or to such other places as Landlord may from time to time designate in a Notice to Tenant. Any Notice will be deemed given (i) three (3) days after the date it is posted if sent by Mail, (ii) the date the
telecopy is transmitted, (iii) the date the overnight courier delivery is made, or (iv) the date personal delivery is made. As of the date of this Lease, any Notices to Landlord must be sent, transmitted, or delivered, as the case may be,
to the following addresses: 
 2834 Colorado Avenue, LLC 

5446 Cleon Avenue 
 North
Hollywood, CA 91601 
 Attention: Jack Walter 

and 
 Elkins Kalt Weintraub Reuben
Gartside LLP 
 2049 Century Park East, Suite 2700 

Los Angeles, CA 90067-3202 

Attention: Scott M. Kalt, Esq. 

  
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 29.19 Joint and Several. If there is more than one Tenant, the obligations
imposed upon Tenant under this Lease shall be joint and several. 
 29.20 Authority. Each individual executing this Lease on
behalf of Landlord and Tenant hereby represent and warrant that Landlord or Tenant (as applicable) is a duly formed and existing entity qualified to do business in California and that each person signing on behalf of Landlord and Tenant is
authorized to do so. 
 29.21 Attorneys’ Fees. In the event that either Landlord or Tenant should bring suit for the
possession of the Premises, for the recovery of any sum due under this Lease, or because of the breach of any provision of this Lease or for any other relief against the other, then all costs and expenses, including reasonable attorneys’ fees,
incurred by the prevailing party therein shall be paid by the other party, which obligation on the part of the other party shall be deemed to have accrued on the date of the commencement of such action and shall be enforceable whether or not the
action is prosecuted to judgment. 
 29.22 Governing Law; WAIVER OF TRIAL BY JURY. This Lease shall be construed and
enforced in accordance with the laws of the State of California. IN ANY ACTION OR PROCEEDING ARISING HEREFROM, LANDLORD AND TENANT HEREBY CONSENT TO (I) THE JURISDICTION OF ANY COMPETENT COURT WITHIN THE STATE OF CALIFORNIA, (II) SERVICE
OF PROCESS BY ANY MEANS AUTHORIZED BY CALIFORNIA LAW, AND (III) IN THE INTEREST OF SAVING TIME AND EXPENSE, TRIAL WITHOUT A JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER OR THEIR
SUCCESSORS IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, TENANT’S USE OR OCCUPANCY OF THE PREMISES, AND/OR ANY CLAIM FOR INJURY OR DAMAGE, OR ANY EMERGENCY OR STATUTORY
REMEDY. IN THE EVENT LANDLORD COMMENCES ANY SUMMARY PROCEEDINGS OR ACTION FOR NONPAYMENT OF BASE RENT OR ADDITIONAL RENT, TENANT SHALL NOT INTERPOSE ANY COUNTERCLAIM OF ANY NATURE OR DESCRIPTION (UNLESS SUCH COUNTERCLAIM SHALL BE MANDATORY) IN ANY
SUCH PROCEEDING OR ACTION, BUT SHALL BE RELEGATED TO AN INDEPENDENT ACTION AT LAW. 
 29.23 Submission of Lease. Submission of
this instrument for examination or signature by Tenant does not constitute a reservation of, option for or option to lease, and it is not effective as a lease or otherwise until execution and delivery by both Landlord and Tenant. 

29.24 Brokers. Landlord and Tenant hereby warrant to each other that they have had no dealings with any real estate broker or
agent in connection with the negotiation of this Lease, excepting only the real estate brokers or agents specified in Section 12 of the Summary (the “Brokers”), and that they know of no other real estate
broker or agent who is entitled to a commission in connection with this Lease. Each party agrees to indemnify and defend the other party against and hold the other party harmless from any and all claims, demands, losses, liabilities, lawsuits,
judgments, costs and expenses (including without limitation reasonable attorneys’ fees) with respect to any leasing commission or equivalent compensation alleged to be owing on account of any dealings with any real estate broker or agent, other
than the Brokers, occurring by, through, or under the indemnifying party. The Brokers shall be compensated by Landlord pursuant to the provisions of a separate agreement. 

  
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 29.25 Independent Covenants. This Lease shall be construed as though the
covenants herein between Landlord and Tenant are independent and not dependent and Tenant hereby expressly waives the benefit of any statute to the contrary and agrees that if Landlord fails to perform its obligations set forth herein, Tenant shall
not be entitled to make any repairs or perform any acts hereunder at Landlord’s expense or to any setoff of the Rent or other amounts owing hereunder against Landlord. 

29.26 Project or Building Name and Signage. Landlord shall have the right at any time to change the name of the Project or
Building and to install, affix and maintain any and all signs on the exterior and on the interior (outside of the Premises) of the Project or Building as Landlord may, in Landlord’s sole discretion, desire; provided, however, that if Tenant has
installed exterior signage pursuant to the provisions of Section 23.3 above, Landlord will not install signage which covers or blocks visibility of Tenant’s signage unless required pursuant to Applicable Law (in which
event, Landlord will use commercially efforts to cooperate with Tenant in determining a suitable alternate location for Tenant’s exterior signage and allow Tenant to relocate its exterior signage to such alternate location at Landlord’s
cost). Tenant shall not use the name of the Project or Building or use pictures or illustrations of the Project or Building in advertising or other publicity or for any purpose other than as the address of the business to be conducted by Tenant in
the Premises, without the prior written consent of Landlord. 
 29.27 Counterparts. This Lease may be executed in counterparts
with the same effect as if both parties hereto had executed the same document. Both counterparts shall be construed together and shall constitute a single lease. 

29.28 Confidentiality. Tenant acknowledges that the content of this Lease and any related documents (including the availability
of any expansion space or any and all notices and information provided to Tenant pursuant to Section 1.2 above) are confidential information. Tenant shall keep such confidential information strictly confidential and shall
not disclose such confidential information to any person or entity other than Tenant’s investors, lenders, buyers, insurers, financial, legal, and space planning consultants or to the extent that disclosure is mandated by Applicable Law, the
Securities Exchange Commission or the rules of any public exchange upon which Tenant’s shares are from time to time traded. Additionally, Tenant shall have the right to deliver a copy of this Lease (with economic terms redacted) to any proposed
subtenant or assignee provided such subtenant or assignee agrees to keep the contents hereof confidential. 
 29.29 Transportation
Management. Tenant shall fully comply with all present or future programs intended to manage parking, transportation or traffic in and around the Building, and in connection therewith, Tenant shall take responsible action for the
transportation planning and management of all employees located at the Premises by working directly with Landlord, any governmental transportation management organization or any other transportation-related
committees or entities. 

  
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 29.30 Building Renovations. It is specifically understood and agreed that
Landlord has no obligation and has made no promises to alter, remodel, improve, renovate, repair or decorate the Premises, Building, or any part thereof and that no representations respecting the condition of the Premises or the Building have been
made by Landlord to Tenant except as specifically set forth herein or in the Tenant Work Letter. However, Tenant hereby acknowledges that Landlord is currently developing the Project or may during the Lease Term renovate, improve, alter, or modify
(collectively, the “Renovations”) the Project, the Building and/or the Premises. Tenant hereby agrees that such Renovations shall in no way constitute a constructive eviction of Tenant nor, subject to the provisions of
Section 19.5.2 above, entitle Tenant to any abatement of Rent. Landlord shall have no responsibility and shall not be liable to Tenant for any injury to or interference with Tenant’s business arising from the
Renovations, nor shall Tenant be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Premises or of Tenant’s personal property or improvements resulting from the Renovations, or for any
inconvenience or annoyance occasioned by such Renovations. 
 29.31 No Violation. Tenant hereby warrants and represents that
neither its execution of nor performance under this Lease shall cause Tenant to be in violation of any agreement, instrument, contract, law, rule or regulation by which Tenant is bound, and Tenant shall protect, defend, indemnify and hold Landlord
harmless against any claims, demands, losses, damages, liabilities, costs and expenses, including, without limitation, reasonable attorneys’ fees and costs, arising from Tenant’s breach of this warranty and representation. 

29.32 Communications and Computer Lines. Tenant may install, maintain, replace, remove or use any communications or computer
wires and cables (collectively, the “Lines”) at the Building in or serving the Premises, provided that (i) Tenant shall obtain Landlord’s prior written consent, use an experienced and qualified contractor approved in
writing by Landlord, and comply with all of the other provisions of Articles 7 and 8 of this Lease, (ii) an acceptable number of spare Lines and space for additional Lines shall be maintained for existing and future occupants of
the Project, as determined in Landlord’s reasonable opinion, provided that Tenant shall always be entitled to, at a minimum, its proportionate share of such Lines based upon the rentable square footage of the Premises, (iii) the Lines
therefor (including riser cables) shall be appropriately insulated to prevent excessive electromagnetic fields or radiation, and shall be surrounded by a protective conduit reasonably acceptable to Landlord, (iv) any new or existing Lines
servicing the Premises shall comply with all applicable governmental laws and regulations, (v) as a condition to permitting the installation of new Lines, Landlord may require that Tenant remove existing Lines located in or serving the Premises
and repair any damage in connection with such removal, and (vi) Tenant shall pay all costs in connection therewith. Landlord reserves the right to require that Tenant remove any Lines located in or serving the Premises which are installed in
violation of these provisions, or which are at any time in violation of any laws or represent a dangerous or potentially dangerous condition. 

29.33 Development of the Project. 

29.33.1 Subdivision. Landlord reserves the right to further subdivide all or a portion of the Project. Tenant agrees to execute
and deliver, upon demand by Landlord and in the form requested by Landlord, any additional documents needed to conform this Lease to the circumstances resulting from such subdivision. 

  
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 29.33.2 The Other Improvements. If portions of the Project or property
adjacent to the Project (collectively, the “Other Improvements”) are owned by an entity other than Landlord, Landlord, at its option, may enter into an agreement with the owner or owners of any or all of the Other Improvements to
provide (i) for reciprocal rights of access and/or use of the Project and the Other Improvements, (ii) for the common management, operation, maintenance, improvement and/or repair of all or any portion of the Project and the Other
Improvements, (iii) for the allocation of a portion of the Direct Expenses to the Other Improvements and the operating expenses and taxes for the Other Improvements to the Project, and (iv) for the use or improvement of the Other
Improvements and/or the Project in connection with the improvement, construction, and/or excavation of the Other Improvements and/or the Project. Nothing contained herein shall be deemed or construed to limit or otherwise affect Landlord’s
right to convey all or any portion of the Project or any other of Landlord’s rights described in this Lease. 
 29.33.3
Construction of Project and Other Improvements. Tenant acknowledges that portions of the Project and/or the Other Improvements may be under construction following Tenant’s occupancy of the Premises, and that such construction may
result in levels of noise, dust, obstruction of access, etc. which are in excess of that present in a fully constructed project. Subject to Section 19.5.2 above, Tenant will have no right to rental abatement or offset and
hereby waives any claims of constructive eviction which may arise in connection with such construction. 
 29.34 Patriot Act and
Executive Order 13224. Landlord and Tenant each represents, warrants and covenants that each party that (other than through the passive ownership of interests traded on a recognized securities exchange) constitutes, owns, controls, or is
owned or controlled by such party, any guarantor hereof or any subtenant of Tenant is not, and at no time during the Lease Term will be, (i) in violation of any applicable laws relating to terrorism or money laundering, or (ii) among the
parties identified on any list compiled pursuant to Executive Order 13224 for the purpose of identifying suspected terrorists or on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control at its official
website, http://www.treas.gov/ofac/tllsdn.pdf or any replacement website or other replacement official publication of such list. 
 29.35
Green Cleaning/Recycling Program. Tenant shall cooperate if and to the extent Landlord implements a green cleaning program and/or recycling program for the Project, and hereby agrees that the reasonable costs associated with any such
green cleaning and/or recycling program shall be included in Operating Expenses. 
 29.36 Approvals. Whenever this Lease
requires an approval, consent, determination, selection or judgment by either Landlord or Tenant, unless another standard is expressly set forth, such approval, consent, determination, selection or judgment and any conditions imposed thereby shall
be reasonable and shall not be unreasonably withheld or delayed. 
 29.37 CASP. Landlord hereby advises Tenant that the Project
has not undergone an inspection by a certified access specialist, and except to the extent expressly set forth in this Lease, Landlord shall have no liability or responsibility to make any repairs or modifications to the Premises or the Project in
order to comply with accessibility standards. The following disclosure is hereby made pursuant to applicable California law: 

  
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 “A Certified Access Specialist (CASp) can inspect the subject premises and determine
whether the subject premises comply with all of the applicable construction-related accessibility standards under state law. Although state law does not require a CASp inspection of the subject premises, the
commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties
shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of
construction-related accessibility standards within the premises.” Cal. Civ. Code Section 1938(e). Any CASp inspection shall be conducted in compliance with reasonable rules in
effect at the Building with regard to such inspections and shall be subject to Landlord’s prior written consent. 
 29.38 Energy
Disclosure. Tenant acknowledges that, pursuant to California Public Resources Code Section 25402.10 and the regulations adopted pursuant thereto (collectively, together with any future law or regulation regarding disclosure of energy
efficiency data with respect to the Building, “Energy Disclosure Requirements”), Landlord may be required in the future to disclose information concerning Tenant’s energy usage to certain third parties, including, without
limitation, prospective purchasers, lenders and tenants of the Building (“Tenant Energy Use Disclosure”). Tenant shall cooperate with Landlord at no cost to Tenant with respect to any Tenant Energy Use Disclosure. Without limiting
the generality of the foregoing, Tenant shall, within thirty (30) days following request from Landlord, disclose to Landlord all information reasonably requested by Landlord in connection with such Tenant Energy Use Disclosure, including, but
not limited to, the amount of power or other utilities consumed within the Premises for which the meters for such utilities are in Tenant’s name, the number of employees working within the Premises, the operating hours for Tenant’s
business in the Premises, and the type and number of equipment operated by Tenant in the Premises. Tenant acknowledges that this information shall be provided on a non-confidential basis and may be provided by
Landlord to the applicable utility providers, the California Energy Commission (and other governmental entities having jurisdiction with respect to the Energy Disclosure Requirements), and any third parties to whom Landlord is required to make any
Tenant Energy Use Disclosure. Tenant hereby (A) consents to all such Tenant Energy Use Disclosures, and (B) acknowledges that Landlord shall not be required to notify Tenant of any Tenant Energy Use Disclosure. Tenant agrees that Landlord
shall not be liable for, and Tenant hereby releases Landlord from, any and all loss, cost, damage, expense and liability relating to, arising out of and/or resulting from any Tenant Energy Use Disclosure. In addition, Tenant represents to Landlord
that any and all information provided by Tenant to Landlord pursuant to this paragraph shall be, to the best of Tenant’s knowledge, true and correct in all material respects. The terms of this paragraph shall survive the expiration or earlier
termination of this Lease. 
 [Signature Page to Follow] 

  
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 IN WITNESS WHEREOF, Landlord and Tenant have caused this Lease to be executed the day
and date first above written. 
  

			
	LANDLORD:
	
	2834 COLORADO AVENUE, LLC, a Delaware limited liability company
		
	By:	 	 /s/ Jack R. Walter

	Name:	 	 Jack Walter

	Title:	 	 Managing Member

	
	TENANT:
	
	FIGS, INC., a Delaware corporation
		
	By:	 	 /s/ Catherine Spear

	Name:	 	 Catherine Spear

	Title:	 	 Co-CEO

 Exhibit A 

 Exhibit B 

 Exhibit C 

 Exhibit D 

 Exhibit E 

 Exhibit F 

 Exhibit G 

 Exhibit H 

 Exhibit I 

 Exhibit J

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