Document:

Ninth Amendment dated August 31, 2007, to Lease Agreement, dated April 30, 2001

 Exhibit 10.255 
 NINTH LEASE AMENDMENT- PPD Development, LLC 
 THIS NINTH AMENDMENT of Lease (this “Amendment”) is made and entered into this 31st day of August, 2007, by and between Greenway
Office Center L.L.C. (the “Landlord”) and PPD Developments, LLC. (the “Tenant” ). 
 RECITALS:

 WHEREAS, Tenant, through PPD Development, LLC (Tenant’s predecessor in interest) and Landlord entered into lease dated
April 30, 2001, as amended on August 15, 2001, August 25, 2003, March 22, 2004, May 17, 2004, December 5, 2004, June 30, 2005, July 29, 2005 and March 1, 2006, with respect
to certain space located at 8551 Research Way, Middleton, Wisconsin(the lease, as so amended and as amended by this Amendment is referred to as the “Lease”) in a building known as the Greenway Research Center (“Building”); and

 THEREFORE, for good valuable consideration, the receipt and sufficiency of which the parties hereby acknowledge, Landlord and
Tenant agree as follows: 
  

	1.	Tenant shall have the right to expand Existing Premises by leasing Suite 130 in the Building, which consists of 12,984 Square Footage (the “Suite 130 Expansion”).

  

	2.	Section 1.10 of the Lease is hereby replaced with the following: “Tenant shall pay rent according to Lease. Starting September 1, 2007, Tenant shall pay additional
rent for the Suite 130 Expansion space as follows: 

  

							
	 Period or Months of Term
	  	Annual Rate Per Square Foot	  	Monthly Base Rent
	8/1/2007 to 2/28/2008	  	$	12.77	  	$	13,817.14
	3/1/2008 to 2/28/2009	  	$	13.15	  	$	14,231.65
	8/1/2009 to 2/28/2010	  	$	13.55	  	$	14,658.60
	8/1/2010 to 2/28/2011	  	$	13.95	  	$	15,098.36
	8/1/2011 to 2/28/2012	  	$	14.37	  	$	15,551.31
	8/1/2012 to 2/28/2013	  	$	14.80	  	$	16,017.85
	8/1/2013 to 2/28/2014	  	$	15.25	  	$	16,498.39
	8/1/2014 to 2/28/2015	  	$	15.71	  	$	16,993.34
	8/1/2015 to 11/30/2016	  	$	16.18	  	$	17,503.14

  

	3.	Landlord shall deliver the space in “as is” condition 

  

	4.	The first sentence of Section 2.4 is hereby replaced with the following: “Tenant Improvement Allowance: Landlord will provide Tenant with a Tenant Improvement Allowance
equals to Ninety Thousand and 0/100 Dollars ($90,000).” 

  

	5.	Except as specifically amended herein, the Lease is hereby ratified and affirmed and shall remain in full force and effect. Each party acknowledges that the other party is not in
default under this Lease nor does either party know of any circumstances that, with the giving of notice, would result in the other party being in default under this Lease. The Lease, as herein amended, shall continue in full force and effect.

  

 1 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the date it is executed
by both of the parties. 
  

									
	TENANT:	 		 	LANDLORD:
			
	PPD Developments, LLC.	 		 	Greenway Office Center L.L.C.
				
		 		 	By:	 	T. Wall Properties Management Corp.,
    Its Property Manager
					
	By:	 	/s/ William J. Sharbaugh	 		 	By:	 	/s/ John Kothe
	Name:	 	William J. Sharbaugh	 		 		 	John Kothe, Vice President of Operations
	Title:	 	Chief Operating Officer	 		 		 	
					
	Date:	 	August 30, 2007	 		 	Date:	 	August 31, 2007

  

 2Tenth Amendment dated September 25, 2007, to Lease Agreement

 Exhibit 10.256 
 TENTH AMENDMENT TO LEASE AMENDMENT 
 THIS TENTH AMENDMENT TO LEASE AGREEMENT (this
“Amendment”) is made and entered into this              day of September, 2007, by and between Greenway Office Center L.L.C. (the “Landlord”) and
PPD Developments, LLP (the “Tenant”). 
 RECITALS: 
 WHEREAS, Tenant, through PPD Development, LLC (Tenant’s predecessor in interest) and Landlord entered into a Lease dated April 30, 2001,
as amended on August 15, 2001, August 25, 2003, March 22, 2004, May 17, 2004, December 5, 2004, June 30, 2005, July 29, 2005, March 1, 2006, and August 31, 2007 with
respect to certain space located at 8551 Research Way, Middleton, Wisconsin (the Lease, as so amended and as amended by this Amendment is referred to as the “Lease”) in a building known as the Greenway Research Center
(“Building”); and 
 THEREFORE, for good valuable consideration, the receipt and sufficiency of which the parties hereby
acknowledge, Landlord and Tenant agree as follows: 
  

	1.	Tenant shall have the right to expand Existing Premises by leasing Suite 170 in the Building, which consists of 2,777 Rentable Square Footage (the “Suite 170
Expansion”). 

  

	2.	The following shall be added to the end of Section 1.10 of the Lease: “ Starting November 1, 2007, Tenant shall pay rent for the Suite 170 Expansion space as follows:

  

							
	 Period or Months of Term
	  	Annual Rate Per Square Foot	  	Monthly Base Rent
	11/1/2007 to 2/28/2008	  	$	14.31	  	$	3,311.57
	3/1 /2008 to 2/28/2009	  	$	14.74	  	$	3,410.92
	3/1 /2009 to 2/28/2010	  	$	15.18	  	$	3,513.25
	3/1 /2010 to 2/28/2011	  	$	15.64	  	$	3,618.64
	3/1 /2011 to 2/28/2012	  	$	16.11	  	$	3,727.20
	3/1 /2012 to 2/28/2013	  	$	16.59	  	$	3,839.02
	3/1 /2013 to 2/28/2014	  	$	17.09	  	$	3,954.19
	3/1 /2014 to 2/28/2015	  	$	17.60	  	$	4,072.82
	3/1 /2015 to 2/28/2016	  	$	18.13	  	$	4,195.00
	3/1/2016 to 11/30/2016	  	$	18.67	  	$	4,320.85

  

	3.	Landlord shall deliver the space in “as is” condition. 

  

	4.	The following language shall be added to the end of Section 2.4 of the Lease: “Landlord will provide Tenant with a Tenant Improvement Allowance for Suite 170 that is equal
to Ten and 0/100 Dollars ($10.00) per Rentable Square Foot.” 

  

 1 

	5.	Except as specifically amended herein, the Lease is hereby ratified and affirmed and shall remain in full force and effect. Each party acknowledges that the other party is not in
default under this Lease nor does either party know of any circumstances that, with the giving of notice, would result in the other party being in default under this Lease. The Lease, as herein amended, shall continue in full force and effect.

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the date it is executed by both of the
parties. 
  

									
	TENANT:	 		 	LANDLORD:
			
	PPD Developments, LLP	 		 	Greenway Office Center L.L.C.
					
	By:	 	PPD GP, LLC, Its General Partner	 		 	By:	 	T. Wall Properties Management Corp.,
		 		 		 		 	    Its Property Manager
					
	By:	 	/s/ William J. Sharbaugh	 		 	By:	 	/s/ John Kothe
	Name:	 	William J. Sharbaugh	 		 		 	John Kothe, Vice President of Operations
	Title:	 	Chief Operating Officer	 		 		 	
					
	Date:	 	September 17, 2007	 		 	Date:	 	September 25, 2007

  

 2Form of Restated Restricted Stock Agreement

 EXHIBIT 10.4.3 
 CHIPOTLE MEXICAN GRILL, INC. 
 RESTATED RESTRICTED STOCK AGREEMENT 
  

							
	Name of Participant:	  	  
	  		  	
			
	No. of Shares:	  	  
	  	Shares Class A Common Stock
				
	Grant Date:	  	  
	  		  	
				
	Vesting Schedule:	  	  
	  		  	

 This Restricted Stock Agreement (this “Agreement”), dated as of the date of grant
first stated above (the “Grant Date”), is delivered by Chipotle Mexican Grill, Inc., a Delaware corporation, to the Participant named above (the “Participant”), who is an employee of the Company. 
 Recitals 
 A. The Company has
agreed to grant to the Participant, under the Chipotle Mexican Grill, Inc. 2006 Stock Incentive Plan (the “Plan”), shares of restricted stock as indicated above (the “Award”), subject to the terms and conditions
hereof and the Plan. 
 B. The Compensation Committee (the “Committee”) of the Company’s Board of Directors (the
“Board”) has approved this Award. 
 Agreement 
 NOW, THEREFORE, the parties hereby agree as follows: 
 1. Definitions. Except as expressly indicated herein, defined terms used in this Agreement have the meanings set forth in the Plan. 
 2. Grant of Restricted Stock. Subject to the terms and conditions hereinafter set forth and the terms and conditions of the Plan, the Company, with the approval and at the direction of the Committee, hereby grants to the Participant,
the number of restricted shares of the Company’s Common Stock indicated above (the “Restricted Stock”). 
 3. Vesting and Forfeiture of Restricted Stock. 
 (a) Vesting of Restricted Stock. The shares of
Restricted Stock subject to this Award shall be subject to the restrictions contained in this Agreement and subject to forfeiture to the Company unless and until the shares of Restricted Stock have vested in accordance with the terms and conditions
of this Agreement. Subject to the terms and conditions of this Agreement, the shares of Restricted Stock will vest in full on the vesting dates indicated above provided the Participant remains continuously employed by the Company from the Grant Date
until the applicable vesting date. 
 (b) Acceleration of Vesting. Notwithstanding the foregoing subparagraph (a), in the event
that prior to the vesting of any shares of Restricted Stock: (1) the Committee determines that the Participant’s employment with the Company was terminated by the Company Without Cause, or by the Participant for Good Reason, or as a result
of the Participant’s medically diagnosed permanent physical or mental inability to perform his or her job duties (“Disability”), or (2) the Participant’s employment with the Company terminates due to the Participant’s
death, then all of the unvested shares of Restricted Stock will vest immediately on the Participant’s termination date. 

 (c) Forfeiture. In the event, in any case prior to the vesting of any shares of
Restricted Stock, of (1) a termination of employment of the Participant other than Without Cause or for Good Reason or as a result of Participant’s Disability (in any such case as determined by the Committee) or as a result of the
Participant’s death, (2) Participant attempting to sell, assign, transfer or otherwise dispose of, or mortgage, pledge or otherwise encumber any unvested shares of Restricted Stock or (3) any unvested shares of Restricted Stock
becoming subject to attachment or any similar involuntary process, then any unvested shares of Restricted Stock shall be forfeited by the Participant to the Company, the Participant shall thereafter have no right, title or interest whatever in such
shares of Restricted Stock, and, if the Company does not have custody of any and all certificates representing shares of Restricted Stock so forfeited, the Participant shall immediately return to the Company any and all certificates representing
shares of Restricted Stock so forfeited. Additionally, the Participant will deliver to the Company a stock power duly executed in blank relating to any and all certificates representing shares of Restricted Stock forfeited to the Company in
accordance with the previous sentence or, if such stock power has previously been tendered to the Company, the Company will be authorized to deem such previously tendered stock power delivered, and the Company will be authorized to cancel any and
all certificates representing shares of Restricted Stock so forfeited and to cause a book entry to be made in the records of the Company’s transfer agent in the name of the Participant (or a new stock certificate to be issued, if requested by
the Participant) evidencing any shares that vested prior to forfeiture. If the shares of Restricted Stock are evidenced by a book-entry made in the records of the Company’s transfer agent, then the Company will be authorized to cause such
book-entry to be adjusted to reflect the number of shares of Restricted Stock so forfeited. 
 (d) Effect of Vesting; Issuance
of Unrestricted Stock. Upon the vesting of any shares of Restricted Stock, such vested shares will no longer be subject to forfeiture as provided in Section 3(c) of this Agreement. Upon the vesting of any shares of Restricted Stock, all
restrictions on such shares will lapse and the Company will issue (subject to Sections 11 and 15) to the Participant a certificate or electronically transfer by book-entry the number of shares of Common Stock of the Company that are free of any
transfer or other restrictions arising under this Agreement. 
 (e) Certain Leaves of Absence. Participant’s employment
with the Company will not be deemed to have terminated if Participant takes a military leave, sick leave, approved sabbatical or other bona fide leave of absence approved by the Company, provided, however, that for any such leave of absence other
than a sabbatical, any vesting date(s) not yet reached on the date of commencement of any such leave will be rolled forward by the number of days of any such leave of absence, and the vesting of any shares of Restricted Stock will be delayed until
such adjusted vesting date(s). 
 4. Adjustment of Restricted Stock. The number of shares of Restricted Stock subject to this
Award will automatically adjust to prevent accretion, or to protect against dilution, in the event of a change to the Company’s common stock resulting from a recapitalization, stock split, consolidation, spin-off, reorganization, or liquidation
or other similar transactions and any transaction in which shares of Common Stock are changed into or exchanged for a different number or kind of shares of stock or other securities of the Company or another corporation. 
 5. Rights as a Stockholder. As of the Grant Date, the Participant shall have all of the rights of a stockholder of the Company with respect to the
shares of Restricted Stock (including voting rights and the right to receive dividends and other distributions), except as otherwise specifically provided in this Agreement; provided that dividends and other distributions paid on the shares of
Restricted Stock shall be held by the Company on the Participant’s behalf and shall be subject to the same vesting conditions applicable to the underlying shares of Restricted Stock. Promptly after the vesting of any of the shares of Restricted
Stock (but in any event by no later than 2.5 months after the end of the calendar in which such Restricted Stock vests), the Company shall distribute to the Participant all dividends or distributions previously paid with respect to the shares of
Restricted Stock that vested hereunder. In the event the Participant forfeits shares of Restricted Stock, the Participant shall also immediately forfeit any dividends or distributions held by the Company that are attributable to such forfeited
shares. 

 6. Non-Transferability of Award. The shares of Restricted Stock shall not be assignable or
transferable by the Participant prior to their vesting in accordance with Section 3. In addition, shares of Restricted Stock shall not be subject to attachment, execution or other similar process prior to vesting. 
 7. Notice of Non-Transferability of Restricted Stock. Any book-entry or stock certificates representing unvested shares of Restricted Stock
may, at the Committee’s discretion, contain a notation or bear the following legend (as well as any notations or legends required by applicable state and federal corporate and securities laws) noting the existence of the restrictions contained
in this Agreement: 
 “THE SHARES REPRESENTED BY THIS [BOOK-ENTRY] [CERTIFICATE] MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF
A RESTRICTED STOCK AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.” 
 8. Employment Not Affected. The granting of the Award shall not be construed as granting to the Participant any right with respect to continuance of employment with the Company. Except as may otherwise be limited by a written
agreement between the Company and the Participant, the right of the Company to terminate at will the Participant’s employment with it at any time (whether by dismissal, discharge, retirement or otherwise) is specifically reserved by the Company
and acknowledged by the Participant. 
 9. Amendment of Restricted Stock Award. The Award or the terms of this Agreement may be
amended by the Board or the Committee at any time (a) if the Board or the Committee determines, in its reasonable discretion, that amendment is necessary or advisable in the light of any addition to or change in the Code or in the regulations
issued thereunder, or any federal or state securities law or other law or regulation, which change occurs after the Grant Date and by its terms applies to the Award; provided that, such amendment shall not materially and adversely affect the
rights of the Participant hereunder; or (b) other than in the circumstances described in clause (a), with the consent of the Participant. 
 10. Notice. Any notice to the Company provided for in this Agreement shall be addressed to the Company in care of its Secretary at its executive offices at 1543 Wazee Street, Suite 200, Denver, Colorado 80202, and any notice to
the Participant shall be addressed to the Participant at the current address shown on the payroll records of the Company. Any notice shall be deemed to be duly given if and when properly addressed and posted by registered or certified mail, postage
prepaid. 
 11. Tax Consequences and Withholding. As of the Grant Date, or at any time thereafter as requested by the Company,
the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant, and otherwise agrees to make adequate provision for, any sums required to satisfy the federal, state, local and foreign tax withholding
obligations of the Company, if any, which arise in connection with the Award. Unless the tax withholding obligations of the Company are satisfied, the Company shall have no obligation to issue a certificate or book-entry transfer for such shares.

 The Participant understands that unless a proper and timely Section 83(b) election has been made as further described below,
generally under Section 83 of the Code, at the time the shares of Restricted Stock vest, the Participant will be obligated to recognize ordinary income and be taxed in an amount equal to the Fair Market Value as of the date of vesting for the
shares of Restricted Stock then vesting. The Participant shall be solely responsible for any tax obligations that may arise as a result of the shares of Restricted Stock, provided that the Company may require the forfeiture of a number of shares of
Restricted Stock having a Fair Market Value as of the date of vesting equal to the amount of any required withholding. 
 The Participant has
been informed that, with respect to the grant of the Award, an election may be filed by the Participant with the Internal Revenue Service, within 30 days of the date of grant, electing pursuant to Section 83(b) of the Code to be taxed
currently on the Fair Market Value of the Restricted Stock on the date of grant. The Participant acknowledges that it is the Participant’s sole responsibility to timely file the election under Section 83(b) of the Code. If the Participant
makes such election, the Participant shall 

 
promptly provide the Company a copy and the Company may require at the time of such election an additional payment for withholding tax purposes based on the
Fair Market Value of the Restricted Stock as of the date of issuance. 
 12. Governing Plan Document. The Award is subject
to all the provisions of the Plan, the provisions of which are hereby made a part of this Agreement, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to
the Plan. In the event of any conflict between the provisions of the Award or this Agreement and those of the Plan, the provisions of the Plan shall control. 
 13. Governing Law. The validity, construction, interpretation and effect of this Agreement shall exclusively be governed by and determined in accordance with the laws of the State of Delaware, except to
the extent preempted by federal law, which shall to the extent of such preemptive govern. 
 14. Integrated Agreement. This Agreement
and the Plan constitute the entire understanding and agreement between the Company and the Participant with respect to the subject matter contained herein and supersedes any prior agreements, understandings, restrictions, representations, or
warranties between the Company and the Participant with respect to such subject matter other than those as set forth or provided for herein. 
 15. Securities Matters. The Company shall not be required to deliver any shares of Restricted Stock, or any certificates therefore or book-entry transfer notation thereof, until the requirements of any federal or state securities or
other laws, rules or regulations (including the rules of any securities exchange) as may be determined by the Company to be applicable are satisfied. 
 16. Saving Clause. If any provision(s) of this Agreement shall be determined to be illegal or unenforceable, such determination shall in no manner affect the legality or enforceability of any other provision
hereof. 
 IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the Grant Date specified above. 
  

			
	CHIPOTLE MEXICAN GRILL, INC.
		
	By:	 	  

		 	Darlene J. Friedman
		 	Chair of the Compensation
		 	Committee of the Board of Directors
	
	ACCEPTED AND AGREED TO:
	
	  

	                    , Participant

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