Document:

Exhibit 10.2

 

FIRST AMENDMENT

TO

SECOND AMENDED
AND RESTATED

AGREEMENT OF
LIMITED PARTNERSHIP

OF

Campus
Crest Communities Operating Partnership, LP 

 

October 9, 2013

 

This
First Amendment to the Second Amended and Restated Agreement of Limited Partnership of Campus Crest Communities Operating
Partnership, LP (this “Amendment”) is made as of October 9, 2013 by Campus
Crest Communities, Inc., a Maryland corporation (the “Company”), as the sole member of Campus Crest Communities
GP, LLC, a Delaware limited liability company (the “General Partner”), as the general partner of Campus
Crest Communities Operating Partnership, LP, a Delaware limited partnership (the “Partnership”),
pursuant to the authority granted to the Company in the Second Amended and Restated Agreement of Limited Partnership of Campus
Crest Communities Operating Partnership, LP, dated as of February 9, 2012, as amended (the “Partnership
Agreement”), for the purpose of designating additional Partnership Units as 8.00% Series A Cumulative Redeemable
Preferred Units. Capitalized terms used and not defined herein shall have the meanings set forth in the Partnership Agreement.

 

WHEREAS,
pursuant to authority duly delegated to a pricing committee (the “2012 Pricing Committee”) of the Board
of Directors of the Company (the “Board of Directors)” in resolutions of the Board of Directors duly
adopted on January 13, 2012, the 2012 Pricing Committee adopted resolutions on February 2, 2012, classifying and designating up
to 2,300,000 shares of the authorized but unissued preferred stock of the Company, par value $0.01 per share (“Preferred
Stock”) as a separate class of Preferred Stock to be known as the “8.00% Series A Cumulative Redeemable Preferred
Stock” (“Series A Preferred Stock”), and setting the preferences, conversion and other rights,
voting powers, restrictions, limitations as to dividends and other distributions, transfers, qualifications, terms and conditions
of redemption and other terms and conditions of such Series A Preferred Stock;

 

WHEREAS,
the Company filed Articles Supplementary effective on February 8, 2012 (the “2012 Articles Supplementary”),
to the Articles of Amendment and Restatement of the Company (the “Charter”) filed on September 15, 2010,
classifying and establishing the Series A Preferred Stock, with such preferences, rights, powers, restrictions, limitations as
to distributions, qualifications and terms and conditions of redemption as described in the Original Articles Supplementary, and
classifying and establishing 2,300,000 shares of the Preferred Stock as Series A Preferred Stock;

 

WHEREAS,
on February 9, 2012, as set forth in Article 16 of the Partnership Agreement, the Company, as the sole member of the General Partner,
as the general partner of the Partnership, designated and established 2,300,000 Partnership Units of the Partnership as “8.00%
Series A Cumulative Redeemable Preferred Units” (“Series A Preferred Units”), having designations,
preferences and other rights which are substantially the same as the economic rights of the Series A Preferred Stock;

 

WHEREAS,
pursuant to authority duly delegated to a Pricing Committee (the “2013 Pricing Committee”) of the Board
of Directors in resolutions of the Board of Directors duly adopted on October 1, 2013, the 2013 Pricing Committee adopted resolutions
on October 3, 2013 classifying and designating an additional 3,910,000 shares of Preferred Stock as Series A Preferred Stock, having
the preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends, qualifications, and terms
and conditions of redemption as set forth in the Original Articles Supplementary, with the result that the Company has authorized
an aggregate of 6,210,000 shares of Series A Preferred Stock, all of which constitutes a single series of Preferred Stock;

 

    	 

    	 

    

 

 

WHEREAS,
the Company filed Articles Supplementary to the Charter (the “2013 Articles Supplementary)” with the
Department, effective on October 9, 2013,classifying and establishing an additional 3,910,000 shares of Preferred Stock as Series
A Preferred Stock;

 

WHEREAS,
on October 9, 2013, the Company issued 3,800,000 additional shares of the Series A Preferred Stock; as of the date hereof, the
Company is authorized to issue an additional 110,000 shares of Series A Preferred Stock; and

 

WHEREAS,
the Company, as the sole member of the General Partner, as the general partner of the Partnership, has determined that, in connection
with the issuance of the additional shares of Series A Preferred Stock, it is necessary and desirable to amend the Partnership
Agreement to classify and designate additional Partnership Units as Series A Preferred Units.

 

NOW,
THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which
hereby are acknowledged, the Company, as the sole member of the General Partner, as the general partner of the Partnership, hereby
amends the Partnership Agreement as follows:

 

1.
Article 16 of the Partnership Agreement is hereby amended by deleting Section 16.1 thereof and replacing such Section with the
following new Section 16.1:

 

“Section
16.1 Designation and Number

 

A
series of Partnership Units in the Partnership designated as the “8.00% Series A Cumulative Redeemable Preferred Units”
is hereby established, with the rights, priorities and preferences set forth herein. The number of Series A Preferred Units shall
be 6,210,000.”

 

2.
In accordance with Section 4.3 of the Partnership Agreement, set forth in Article 16, as amended hereby, are the terms and conditions
of the additional Series A Preferred Units hereby established and issued to the Company in consideration of its contribution to
the Partnership of the proceeds of the issuance and sale of the additional shares of Series A Preferred Stock by the Company. The
Partnership Agreement is amended to replace Exhibit A thereto with a revised Exhibit A to reflect the issuance of the
additional Series A Preferred Units.

 

3.
Except as modified herein, all terms and conditions of the Partnership Agreement shall remain in full force and effect, which terms
and conditions the Company hereby ratifies and confirms.

 

4.
This Amendment shall be construed and enforced in accordance with and governed by the laws of the State of Delaware, without regard
to conflicts of law.

 

5.
If any provision of this Amendment is or becomes invalid, illegal or unenforceable in any respect, the validity, legality and enforceability
of the remaining provisions contained herein shall not be affected thereby.

 

[Signature
Page to Amendment No. 1 to the Second Amended and Restated Agreement

of Limited
Partnership of Campus Crest Communities Operating Partnership, LP follows]

  

    	 

    	 

    

 

 

IN
WITNESS WHEREOF, the undersigned has executed this Amendment as of the date first set forth above.

 

	 	General Partner:	 
	 	 	 
	 	CAMPUS CREST COMMUNITIES GP, LLC, a Delaware limited liability company	 
	 	 	 
	 	By:	Campus Crest Communities, Inc., a Maryland corporation, its Sole Member	 
	 	 	 	 	 
	 	 	 	 	 
	 		By:	/s/ Donald L. Bobbitt, Jr.	 
	 	 	 	Name: Donald L. Bobbitt, Jr.	 
	 	 	 	Title: Executive Vice President, Chief  Financial Officer and Secretary	 

 

 

 

	 	Limited Partners listed on Exhibit A hereto:	 
	 	 	 
	 	CAMPUS CREST COMMUNITIES GP, LLC, a Delaware limited liability company, as attorney-in-fact acting on behalf of the Limited Partners listed on Exhibit A hereto	 
	 	 	 
	 	By:	 Campus Crest Communities, Inc., a Maryland corporation, its Sole Member	 
	 	 	 	 	 
	 	 	 	 	 
	 		By:	/s/ Donald L. Bobbitt, Jr.	 
	 		 	Name: Donald L. Bobbitt, Jr.	 
	 		 	Title: Executive Vice President, Chief  Financial Officer and SecretaryExhibit 10.1

 

second
AMENDMENT TO OFFICE LEASE AGREEMENT

THIS SECOND AMENDMENT
TO OFFICE LEASE AGREEMENT (this “Amendment”) is made and entered into effective as of October 4, 2013, by
and between FSP GALLERIA NORTH LIMITED PARTNERSHIP, a Texas limited partnership ("Landlord"), and DEALERTRACK
TECHNOLOGIES, INC., Delaware corporation (“Tenant”).

RECITALS:

A.     Landlord
and Dealertrack, Inc., a Delaware corporation ("Original Tenant") previously entered into that certain Office
Lease Agreement (the "Original Lease"), dated February 16, 2012 covering certain space (the "Original
Premises") in the Building (as defined in the Lease) known as Galleria North Tower I, 13737 Noel Road, Dallas, Texas 75240.

B.      On
or about December 31, 2012, Landlord, Original Tenant and Tenant entered into a certain Assignment, Assumption and First Amendment
to Office Lease Agreement (the “First Amendment”) pursuant to the terms of which, among other things, Original
Tenant assigned to Tenant and Tenant assumed the obligations of Original Tenant under the Original Lease and expanded the Original
Premises to include the fifth and sixth floor of the Building (as defined in the Original Lease). The Original Lease, as amended
by the First Amendment, is defined herein as the “Lease”; the Original Premises as expanded pursuant to the
First Amendment is referred to herein as the “Premises”.

C.      Tenant
desires to further expand the Premises and Landlord and Tenant are entering into this Amendment for the purpose of amending the
Lease to set forth the agreements of Landlord and Tenant relating to such expansion.

NOW, THEREFORE, in
consideration of the mutual agreements herein set forth, the mutual agreements set forth in the Lease, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant have agreed, and do hereby agree,
as follows:

1. Definitions:
All terms used herein and not specifically defined shall have the same meaning herein as is ascribed to them in the Lease.

2. Addition of
Expansion Space. Landlord and Tenant have agreed to expand the Premises to include all of the Rentable Area on the seventh
floor of the Building, such floor containing 24,907 square feet of Rentable Area and shown on Exhibit "B-2"
hereto (the "Expansion Space"). All references in the Lease to the "Premises," including the definition
in Section 1 of the Lease, shall include the Expansion Space; (ii) all references in the Lease to the "Rentable Area of the
Premises," including the definition set forth in Section 1 of the Lease, shall mean 133,873 square feet of Rentable Area;
(iii) Exhibit "B" attached to the Lease is further modified by the addition of the floor plan shown on Exhibit "B-2"
hereto; and (iv) except as specifically modified by the terms of this Amendment, the terms and provisions of the Lease shall apply
to the Expansion Space and Tenant's use and occupancy thereof.

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3. Grant.
Landlord hereby leases and demises to Tenant, and Tenant hereby leases from Landlord, the Expansion Space, all upon and
subject to the terms and conditions of the Lease. The term of the Lease applicable to the Expansion Space is the same as the
Lease Term and the expiration, extension or earlier termination of the Lease shall apply to all of the Premises, including
the Expansion Space.Adjustment in Base Rental. From and after the Expansion Commencement Date (as defined below), in
addition to the Base Rental provided for in the Lease, Tenant shall also pay Base Rental for the Expansion Space as
follows

	Lease Months	
        Annual Base

        Rental Rate Per RSF
	Annual Base Rental [based on 24,907 RSF]	Monthly Installments	Additional Charge to Base Rental
	April 1, 2014-April 30, 2014 	$12.71	N/A	$26,380.66	+ Electricity
	May 1, 2014 to June 30, 2015  	$21.00	$523,047.00	$43,587.25	+Electricity
	July 1, 2015 to October 31, 2017	$22.20	$552,935.40	$46,077.95	+Electricity
	November 1, 2017 to February 29, 2020	$23.40	$582,823.80	$48,568.65	+Electricity
	March 1, 2020 to May 31, 2022	$24.60	$612,712.20	$51,059.35	+Electricity
	June 1, 2022 to May 31, 2023	$25.80	$642,600.60	$53,550.05	+Electricity

Tenant agrees
to pay to Landlord the additional Base Rental and electricity described above in the same manner, on same the dates and subject
to the same terms as Base Rental provided in the Lease.

5. Commencement
Date of Expansion Space. The term of the Lease as it pertains to the Expansion Space shall commence on April 1, 2014 (the “Expansion
Commencement Date”).

6. Condition
of Premises and Tenant Improvements. Landlord and Tenant agree that Tenant will accept the Expansion Space on an "AS IS,
WHERE IS" basis as of the Expansion Commencement Date, and Tenant, by its signature below, accepts the Expansion Space on
such terms.

7. Adjustment
of Tenant’s Share; Electricity Costs. Commencing on the Expansion Space Commencement Date, (i) Tenant’s Share shall
increase from 28.7117% to 35.2745%, and (ii) Tenant shall pay Tenant’s Share of Basic Operating Costs, and Tenant’s
Share of all of the electricity used in the Building. Billing and payment of Tenant’s Share of Basic Operating Costs and
electricity shall be paid in accordance with Section 6 of the Lease. For the avoidance of doubt, Landlord and Tenant acknowledge
that the Base Year (as defined in the Lease) is not modified by this Amendment and remains calendar year 2012.

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9. Tenant Improvements.
Tenant Improvements for the Expansion Space and the Improvement Allowance are set forth on, and shall be governed by, New
Exhibit "D" hereto.

10. Parking.
In addition to the parking rights granted to Tenant in Exhibit "E" of the Original Lease and Section 10 of the First
Amendment, Tenant shall also have a non-exclusive right to 3.5 Parking Spaces for every 1,000 square feet of Rentable Area in the
Expansion Space (the "Expansion Parking Spaces") for a total of 87 additional unreserved spaces. If and to the
extent available at the time of conversion, Tenant shall have the right to convert up to 4 of the Expansion Parking Spaces into
reserved parking spaces located in the Parking Garage and 4 of the Expansion Parking Spaces into Executive Reserved Spaces located
in the underground parking areas beneath the Building. A monthly charge of $35.00 plus applicable taxes per Reserved Parking Space
shall apply to each of the Reserved Parking Spaces in the Parking Garage (except that the first 12 months after the Expansion Commencement
Date shall be free of such charge) and a monthly charge of $75.00 plus applicable taxes per Parking Space shall be assessed for
each Executive Reserved Parking Spaces in the Underground Parking Area. If Tenant exercises its right to convert Expansion Parking
Spaces into Reserved Parking Spaces, Tenant will be charged for the reserved Parking Spaces regardless of whether the spaces are
utilized. There is no monthly charge for unreserved parking spaces. Except as especially set forth in this paragraph, the provisions
of Exhibit "E" to the Original Lease shall be applicable to the Expansion Parking Spaces. 

As of April 1, 2014,
Tenant shall have a non-exclusive right to a maximum of 482 Parking Spaces in the Parking Garage. Tenant acknowledges that it will
be solely responsible for locating, securing and funding any alternative parking above the 482 vehicles off-site (not on the Complex).
Tenant’s employees shall not be allowed to park vehicles in Visitor Parking Spaces at any time.

If Tenant requests
more than 482 parking access cards for Tenant’s employees, then Landlord may incur additional costs to monitor Tenant’s
use of the Parking Garage.  Landlord may need to hire an additional security guard to monitor Visitor Parking and/or to install
a technology and hardware upgrade to the existing parking access system (“System Upgrade”) to allow for the interchangeability
of Tenant's parking cards.  This System Upgrade will allow for Tenant's employees to have ingress and egress to the parking
garage, up to the total number of parking spaces allowed in this Lease.  Upon Tenant reaching the total number of parking
spaces allowed in the Lease, the parking garage will restrict access to any other Tenant employee(s) until other Tenant employee(s)
have exited the garage, thus reducing the number of Tenant employee(s) in the parking garage below the allowed number of parking
spaces in the Lease.  The current bid for this System Upgrade is estimated at approximately $68,000. If Landlord installs
the System Upgrade to monitor Tenant’s use of the Parking Garage, then Tenant shall be required to contribute an amount equal
to Tenant’s Share towards the cost of the System Upgrade upon installation. The System Upgrade will be installed so
that the garage/property manager will be able to use the system for every car that enters and exits the garage, regardless
of the tenant(s) using the system.

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11. Termination
of Right of First Refusal. The right of first refusal set forth on New Exhibit “H” of the First Amendment is hereby
terminated and of no further force or effect.

12. Commissions.
Landlord and Tenant acknowledge that Cassidy Turley Commercial Services, Inc. has acted on behalf of Landlord in connection with
this Amendment and iOptimize Realty Inc. d/b/a Corporate Realty Consultants has acted on behalf of Tenant (collectively, "Brokers").
Landlord and Tenant agree that the Brokers are the only brokers involved in the procurement, negotiation or execution of this Lease,
and that any commissions that may be payable by Landlord shall be paid pursuant to a separate commission agreement. LANDLORD AND
TENANT HEREBY INDEMNIFY EACH OTHER FROM THE PAYMENT OF ANY COMMISSIONS OWED TO ANY OTHER BROKER WITH RESPECT TO THIS AMENDMENT
RESULTING FROM THE ACTS OF SUCH INDEMNIFYING PARTY, BUT NOT OTHERWISE.

13. No Modification.
Except as specifically amended by this Amendment, all other terms and conditions of the Lease shall remain unchanged and in full
force and effect, and as said terms and conditions have been modified or amended hereby, same shall be binding upon the parties
hereto and their respective successors and assigns. The Original Lease and this Amendment shall be construed as one instrument
and any default under the Original Lease shall also be a default under this Amendment and any default under this Amendment shall
also be a default under the Original Lease.

14. No Waiver.
Landlord and Tenant expressly acknowledge and agree that nothing herein shall affect, abrogate or waive any rights or obligations
of Landlord or Tenant under the Lease.

15. Governing
Law. THE TERMS AND PROVISIONS HEREOF SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS.

16. Headings.
The section headings hereof are inserted for convenience of reference only and shall in no way alter, amend, define or be used
in the construction or interpretation of the text of such section.

17. Construction.
Whenever the context hereof so requires, reference to the singular shall include the plural and likewise, the plural shall include
the singular; words denoting gender shall be construed to mean the masculine, feminine or neuter, as appropriate; and specific
enumeration shall not exclude the general, but shall be construed as cumulative of the general recitation. In the event of any
conflict between the terms of the Original Lease and this Amendment, this Amendment shall control.

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18. Severability.
If any clause or provision of this Amendment is or should ever be held to be illegal, invalid or unenforceable under any present
or future law applicable to the terms hereof, then and in that event, it is the intention of the parties hereto that the remainder
of this Amendment shall not be affected thereby, and that in lieu of each such clause or provision of this Amendment that is illegal,
invalid or unenforceable, such clause or provision shall be judicially construed and interpreted to be as similar in substance
and content to such illegal, invalid or unenforceable clause or provision, as the context thereof would reasonably suggest, so
as to thereafter be legal, valid and enforceable.

19. Ratification.
Tenant hereby confirms and ratifies that, as of the Effective Date of this Amendment, and the Original Lease, as modified by this
Amendment, remains in full force in effect.

END OF TEXT;
SIGNATURE PAGE FOLLOWS

 

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IN WITNESS WHEREOF,
Landlord and Tenant have executed this Amendment as of the date first above written.

 

 

	Landlord’s Notice Address:	 	LANDLORD:
	 	 	 
	Franklin Street Properties	 	FSP GALLERIA NORTH LIMITED
	401 Edgewater Place	 	PARTNERSHIP, a Texas Limited Partnership
	Suite 201	 	 	 	 
	Wakefield, Massachusetts 01880-6210	 	By:	FSP Property Management LLC,
	Attn:  Scott Carter, Esq.	 	 	its Asset Manager,
	 	 	 	 	 
	and 	 	 	By:	/s/ John F Donahue
	 	 	 	Name:	John F Donahue
	Franklin Street Properties	 	 	Title:	Vice President
	401 Edgewater Place	 	 	 	 
	Suite 201	 	 	 	 
	Wakefield, Massachusetts 01880-6210	 	 	 	 
	Attn:  Asset Management	 	 	 	 
	 	 	 
	 	 	 
	Tenant’s Notice Address::	 	TENANT: 
	 	 	 
	1111 Marcus Ave. – Suite M04	 	DEALERTRACK TECHNOLOGIES, INC.
	Lake Success, NY  11042	 	a Delaware corporation
	Attn:  General Counsel	 	 
	 	 	By:	/s/ Ana Herrera
	 	 	Name:	Ana Herrera
	 	 	Title:	SVP Human Resources
	 	 	 	 	 	 	 

 

 

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Exhibit B-2

Expansion Space

 

 

 

    	 

     

	 

    

 

    	 

    	 

    

NEW
EXHIBIT "D"

TENANT IMPROVEMENTS AGREEMENT

[Expansion Space]

This Tenant Improvements
Agreement (herein so called) describes and specifies the rights and obligations of Landlord and Tenant under the Amendment to which
this New Exhibit "D" is attached, with respect to the design, construction and payment for
the completion of the Tenant Improvements for Expansion Space.

1. Definitions.
Any capitalized terms not defined in this Tenant Improvements Agreement shall have the meaning set forth in the Amendment, or if
not defined in the Amendment, then the meaning set forth in the Lease. Additionally, as used in this Tenant Improvements Agreement,
the following terms (when delineated with initial capital letters) shall have the respective meaning indicated for each as follows:

"Architect” means
a licensed architect selected and engaged by Tenant.

"Contractor"
means the general contractor selected by mutual agreement of Landlord and Tenant to perform the Work, provided, however that Landlord
and Tenant hereby approve the following to be the Contractor: Pacific Builders, Inc.; J.F. Jones, Inc. and Balfour Beatty Construction.

"Certificate
of Occupancy" means a certificate of occupancy, governmental sign-off or other document, permit or approval (whether conditional,
unconditional, temporary or permanent) which must be obtained by Landlord from the appropriate governmental authority as a condition
to the lawful initial occupancy by Tenant of the Expansion Space that is the subject of the Work.

"Improvement
Allowance" means $566,634.25.

“Landlord
Delay” means any delay in the performance of the Work by the date set forth in the Timeline, for reasons that are not
attributable to (A) a Tenant Delay, (B) Force Majeure, (C) unavailability of materials that were timely ordered and paid for, or
(D) delays attributable to the failure of governmental authorities to timely grant approvals, permits or carry out inspections
necessary to start or perform the Landlord’s Work but only with respect to that part of Landlord’s Work that the government
delay prohibits from starting and further only if such failure is not due to Landlord’s or Contractor’s delay, fault,
act, or omission. A Contractor’s delay is a Landlord Delay.

"Plans
and Specifications" means the detailed construction documents for the Tenant Improvements referred to in paragraph 5 below.

"Space
Plan" means the space plan to be prepared by Tenant in accordance with paragraph 2 below and approved by Landlord and
Tenant, and showing the general configuration of the Tenant Improvements for the Expansion Space.

NEW
EXHIBIT D – TENANT IMPROVEMENTS AGREEMENT

    	 

    	 

    

"Substantial
Completion" means either (a) the date a Certificate of Occupancy is obtained for the Expansion Space, or (b) if a Certificate
of Occupancy is not required as a condition to Tenant’s lawful occupancy of the Expansion Space, the date that the Tenant
Improvements are substantially completed (subject to punch list items and a mutually agreeable timetable for completing such punch
list items), as confirmed in writing by Architect.

"Tenant
Delay" means any delay caused by Tenant, including, without limitation, with respect to the Work, Tenant's failure to
timely meet or comply with any part of the Timeline that is the responsibility of Tenant. A Tenant Delay excuses Landlord's performance
of any obligation related thereto for a period equal to (a) the duration of the act, occurrence or omission that constitutes the
Tenant Delay, or (b) if longer, the reasonable period of delay actually caused by such Tenant Delay. For this purpose, “timely”
means the allotted amount of time for performance set forth in the Timeline after taking into consideration any delay due to the
preceding tasks or obligations of Landlord and other conditions precedent to Tenant’s Timeline responsibility not being completed
on or before the date contemplated in the Timeline.

"Tenant
Improvements" means the initial improvements to the Expansion Space that is more particularly described in the Plans and
Specifications.

“Timeline”
means the timeline for the Tenant Improvements attached hereto as New Exhibit “D-1”.

"Work"
means all materials and labor to be added to the existing improvements in an Expansion Space, if any, in order to complete the
installation of the Tenant Improvements within each Expansion Space in accordance with the Plans and Specifications for such Expansion
Space, including, without limitation, all air balancing and other mechanical adjustments to Building equipment serving the applicable
Expansion Space. Tenant acknowledges and agrees that only Building Standard materials may be utilized in the performance of the
Work unless otherwise approved by Landlord in writing, such approval not to be unreasonably withheld or delayed.

2. Space Plan.
Tenant will cause the Architect to develop and design a space plan for the Tenant Improvements and deliver such space plan to Tenant
within the time period set forth in the Timeline. The space plan must (a) be compatible with the base building (both aesthetically
and mechanically, as reasonably determined by Landlord); (b) be adequate, in Landlord’s reasonable discretion, for the preparation
of Plans and Specifications for the Tenant Improvements; (c) show, in reasonable detail, the design and appearance of the finishing
materials to be used in connection with installing the Tenant Improvements; (d) contain such other detail or description as Landlord
may reasonably deem necessary to adequately outline the scope of the Tenant Improvements; (e) conform to all applicable governing
codes and ordinances; and (f) contain all information necessary for construction cost estimating. All space plan drawings must
be not less than 1/8” scale. Without limiting those general requirements, the space plan must expressly specify and include
(without limitation) all of the following: (1) wall types and heights and insulation, if needed; (2) door types and hardware groups;
(3) door frame types; (4) ceiling heights; (5) ceiling materials; (6) floor covering materials and locations; (7) all

NEW EXHIBIT D – TENANT IMPROVEMENTS AGREEMENT

    	 

    	 

    

wall finishes; (8) any appliances, special
systems or equipment to be furnished as a part of the construction; (9) any mechanical requirements beyond that provided in the
base building; (10) any fire protection requirements beyond that provided in the base building; (11) any plumbing requirements;
(12) all power and data locations; (13) any power required other than building standard power distribution; (14) any power requirements
for modular furniture; (15) any emergency power requirement; (16) any lighting requirements beyond that provided in the base building;
(17) millwork elevations and details; (18) specific floor material selections and designations; (19) specific wall material selections
and designations; and (20) work necessary to comply with all applicable Disability Laws. The Space Plan must also include enlarged
sketch layouts for any non-standard rooms, including reflected ceiling plans, and must state the approximate usable and rentable
square footage of the Premises. The costs of the Space Plan shall be reimbursable from the Improvement Allowance. Tenant and Landlord
shall cooperate in good faith to resolve any aspects of the Space Plan that are not satisfactory to Landlord.

3. Plans and
Specifications. After Landlord receives and approves the Space Plan as provided above, Tenant will cause Architect to prepare
the Plans and Specifications for the Tenant Improvements and deliver a full set of the Plans and Specifications within the time
period set forth in the Timeline. This Plan preparation will include Tenant’s Architect engaging Schmidt and Stacy to prepare
the MEP plans for the Tenant Improvements. Landlord will approve or disapprove (specifically describing any reasons for disapproval)
the Plans and Specifications in writing on or before the date set forth in the Timeline. If Landlord disapproves the Plans and
Specifications, the Plans and Specifications will be revised. Tenant will resubmit such revised Plans and Specifications for approval
(or disapproval) by Landlord on or before the date set forth in the Timeline on the same basis as set forth above. After Landlord’s
approval, Landlord will submit the Plans and Specifications for permits and construction bids in accordance with the Timeline.
No deviation from the Building Standard will be permitted in the Space Plan or the Plans and Specifications. Landlord will not
approve any deviations which Landlord reasonably believes (a) do not conform to applicable codes, ordinances, Disability Laws and
other Laws or are disapproved by any governmental agency, (b) require services beyond the level normally provided to other tenants
in the Building, or (c) are of a nature or quality that are inconsistent with Landlord's overall plan or objectives for the Building.

4. Tenant Improvements.
Landlord shall solicit bids for the Tenant Improvements from no less than three (3) but not more than five (5) general contractors
as mutually approved by Tenant and Landlord (which may include some or all of the general contractors listed in the definition
of "Contractor" above). All subcontracted work (except for fire alarm, Building automation system(s) connections, Building
roof work and work associated with existing warranties) will be competitively bid by a minimum of three (3) qualified subcontractors
in each trade of work. Tenant and Landlord will mutually agree on the selection of the Contractor to be the general contractor
for the Tenant Improvements. Upon selection of the Contractor, Landlord will enter into a construction contract with the Contractor
to perform the Work and making advances to Contractor from the Improvement Allowance. The Tenant Improvements, pursuant to a construction
contract that will provide for Substantial Completion to occur within the time period provided for in the Timeline and deliver
possession of the Expansion Space to Tenant. Tenant will be responsible for all direct and indirect costs of the design and construction
of the Tenant Improvements. Such costs may include, without limitation, all costs of preparing the Space Plan, construction document
preparation, design, Plans and Specifications, general

NEW EXHIBIT D – TENANT IMPROVEMENTS AGREEMENT

    	 

    	 

    

conditions, labor, materials, wiring
and cabling costs, MEP fees, and other construction costs, the fees (on an hourly basis) of Contractor’s project manager,
Landlord’s construction manager and site superintendent for the Tenant Improvements, and all costs incurred in connection
with obtaining permits for the Tenant Improvements and moving costs (not to exceed $37,360.05). If the contracts for the construction
of the Tenant Improvements will exceed the Improvement Allowance, Tenant shall pay such excess in full. For all purposes of ownership,
including risk of loss thereto, the Tenant Improvements will immediately upon installation be and remain a part of the Building
and the property of Landlord. Work shall be deemed to completed upon Substantial Completion. Tenant hereby elects in writing to
have Landlord's construction manager, Cassidy Turley, manage the construction of the Tenant Improvements for this phase and agrees
that such construction manager shall receive a fee for such services in an amount equal to three percent (3%) of the hard costs
of construction.

5. Funding of
the Improvement Allowance. Landlord will cause the Tenant Improvements to be substantially completed by Contractor in accordance
with the Plans and Specifications and will pay the costs thereof up to the amount of the Improvement Allowance. In no event will
Landlord have any obligation to pay for any costs of the Tenant Improvements in excess of the Improvement Allowance or to perform
any work in the Premises that is not expressly contemplated by this Lease. Tenant shall be solely responsible for any and all costs
of constructing the Tenant Improvements in excess of the Improvement Allowance (such excess to be reimbursed or funded by Tenant
within 30 days of receipt of invoice from Landlord). Landlord shall not be required to make any advance of the Improvement Allowance
after December 31, 2014.

6. Changes to
Plans and Specifications. Tenant will promptly notify Landlord if Tenant desires to make any changes to the Tenant Improvements
after Tenant has approved the Plans and Specifications. If Landlord approves the revisions, Tenant may carry out the changes contemplated
therein. If the change order will cause the cost of the Tenant Improvements to exceed the Improvement Allowance (or if the cost
of the Tenant Improvements already exceeds the Improvement Allowance), Tenant shall reimburse or fund the cost of the change order
within 30 days of receipt of invoice from Landlord..

7. Landlord’s
Approval Rights. Landlord may withhold its approval of any Space Plan, Plans and Specifications, change orders, or other work
requested by Tenant which Landlord reasonably determines may require work which: (a) exceeds or adversely affects the structural
integrity of the Building; (b) adversely affects, or exceeds Tenant’s pro rata capacity of, any part of the heating, ventilating,
air conditioning, plumbing, mechanical, electrical, communication or other systems of the Building; (c) will increase the cost
of operation or maintenance of any of the systems of the Property; (d) does not conform to applicable building codes or is not
approved by any governmental authority with jurisdiction over the Premises; (e) is not a building standard item or an item of equal
or higher quality; or (f) may detrimentally affect the uniform appearance of the Property.

8. Tenant’s
Representative. Tenant designates Steve Hardy as the representative of Tenant having authority to approve the Plans and Specifications,
request or approve any change order, give and receive all notices, consents, approvals and directions regarding the Tenant Improvements,
and to otherwise act for and bind Tenant in all matters relating to the Tenant Improvements. Tenant will have the right to change
the Tenant Representative by giving notice of such successor Tenant Representative to Landlord at any time.

NEW EXHIBIT D – TENANT IMPROVEMENTS AGREEMENT

    	 

    	 

    

9. Tenant Finish
Work. Tenant may elect to have Landlord's electrical contractor who is performing the electrical work as part of the Work install
computer network (Ethernet or similar) and telephone wiring at the time this electrical contractor is also running electrical power
to outlets and workstations. If the costs of constructing the Tenant Improvements are less than the Improvement Allowance, the
cost for such work shall be paid from the Improvement Allowance. If there are not sufficient funds in the Improvement Allowance
after the payment of all such costs, Tenant shall be responsible for paying the difference. All finish work and decoration and
other work desired by Tenant and not included within the Tenant Improvements as set forth in the approved Plans and Specifications
(including specifically, without limitation, the design and installation of all computer systems, telephone systems, telecommunications
systems, removable fixtures, furnishings, and equipment) will be designed, furnished and installed by Tenant and may be chargeable
against the Improvement Allowance. Tenant will perform all such work in the same manner and following the same procedures as are
provided in this Lease for Alterations. Landlord is under no obligation to inspect, or supervise any such work, and Landlord shall
have no liability or responsibility whatsoever therefor.

10. Liens and
Claims.

(a) Tenant will
keep the Property and the Complex free from any mechanics', materialmen's, designers' or other liens arising out of any work performed,
materials furnished or obligations incurred by or for Tenant or any person or entity claiming by, through or under Tenant. Tenant
will upon request record and post notices of non-responsibility or such similar protective notices as Landlord may reasonably request.
If any such liens are filed against Tenant or the Property or Tenant’s leasehold estate as a result of the failure to pay
any amount that is Tenant’s responsibility and Tenant, within 45 days after such filing, does not release the same of record
or provide Landlord with a bond or other surety satisfactory to Landlord protecting Landlord and the Property and the Complex against
such liens, Landlord may, without waiving its rights and remedies based upon such breach by Tenant and without releasing Tenant
from any obligation under the Lease, cause such liens to be released by any means Landlord deems proper, including, but not limited
to, paying the claim giving rise to the lien or posting security to cause the discharge of the lien. In such event, Tenant will
reimburse Landlord, as Rent, for all amounts Landlord pays (including, without limitation, reasonable attorneys' fees and costs).
To the fullest extent allowable under the Laws, Tenant releases and will indemnify, protect, defend (with counsel reasonably acceptable
to Landlord) and hold harmless the Landlord Related Parties and the Property and the Complex from and against any Claims in any
manner relating to or arising out of the Tenant Improvements, any of the Work or any other work performed, materials furnished
or obligations incurred by or for Tenant or any person or entity claiming by, through or under Tenant, but not for any Claims arising
from the Work or materials furnished and obligations incurred in connection with any the Work to the extent such Claims are the
result of Landlord’s failure to timely pay the Improvement Allowance in accordance with the terms of this New Exhibit “D”.

NEW EXHIBIT D – TENANT IMPROVEMENTS AGREEMENT

    	 

    	 

    

(b) Landlord shall
not permit any such liens to be placed upon Tenant or the Premises or Tenant’s leasehold estate as a result of Landlord’s
failure to timely pay the Improvement Allowance in accordance with the terms of this New Exhibit “D”. If any such liens
are filed against Tenant or the Premises or Tenant’s leasehold estate as a result of the failure to pay any amount that is
Landlord’s responsibility and Landlord, within 45 days after such filing, does not release the same of record or provide
Tenant with a bond or other surety satisfactory to Tenant protecting Tenant and Tenant’s leasehold estate against such liens,
Tenant may, without waiving its rights and remedies based upon such breach by Landlord and without releasing Landlord from any
obligation under the Lease, cause such liens to be released by any means Tenant deems proper, including, but not limited to, paying
the claim giving rise to the lien or posting security to cause the discharge of the lien. All reasonable sums paid and costs incurred
by Tenant to do so will be credited against Rent that first become due following such events or, at Tenant’s option, Landlord
will promptly reimburse Tenant for all sums paid and costs incurred. To the fullest extent allowable under the Laws, Landlord releases
and will indemnify, protect, defend (with counsel reasonably acceptable to Tenant) and hold harmless Tenant, the Premises and Tenant’s
leasehold estate in the Premises from and against any Claims in any manner relating to or arising out of Landlord’s failure
to timely pay the Improvement Allowance in accordance with the terms of this New Exhibit “D”.

NEW EXHIBIT D – TENANT IMPROVEMENTS AGREEMENT

    	 

    	 

    

NEW EXHIBIT D-1

 

Timeline (attached)

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