Document:

EX-4.5

 Exhibit 4.5 
 BIOMARIN PHARMACEUTICAL INC. 
 2006 SHARE INCENTIVE PLAN 

(As amended and restated on March 22, 2010, and as amended on March 28, 2013) 

 
  

PLAN DOCUMENT 
  

 
 1. Establishment, Purpose,
and Types of Awards 
 BioMarin Pharmaceutical Inc. (the “Company”) hereby establishes this
equity-based incentive compensation plan to be known as the “BioMarin Pharmaceutical Inc. 2006 Share Incentive Plan” (hereinafter referred to as the “Plan”), in order to provide incentives and awards to select employees,
directors, consultants, and advisors of the Company and its Affiliates. The Plan permits grants of the following types of awards (“Awards”), according to the Sections of the Plan listed here: 

 

			
	Section 6	  	Options
	Section 7	  	Restricted Shares, Restricted Share Units, and Unrestricted Shares
	Section 8	  	Deferred Share Units
	Section 9	  	Performance Awards

 The Plan is not intended to affect and shall not affect any stock options, equity-based compensation, or
other benefits that the Company or its Affiliates may have provided, or may separately provide in the future pursuant to any agreement, plan, or program that is independent of this Plan. Without limiting the foregoing, upon approval of the Plan by
the stockholders of the Company, no further awards or grants shall be made under the Company’s 1997 Stock Plan or the Company’s 1998 Director Option Plan. 
 2. Defined Terms 
 Terms in the Plan that begin with an initial
capital letter have the defined meaning set forth in Appendix A, unless defined elsewhere in this Plan or the context of their use clearly indicates a different meaning. 
 3. Shares Subject to the Plan 
 Subject to the provisions of
Section 12, the maximum number of Shares that the Company may issue for all Awards (including ISOs) shall not exceed Thirty-One Million (31,000,000) Shares, (a) less one (1) Share for every one (1) Share that is
subject to an Award granted prior to May 12, 2010; (b) less one (1) Share for every one (1) Share that is subject to an Option granted on or after May 12, 2010; (c) less 1.62 Shares for every one (1) Share that is

 
subject to any Award granted on or after May 12, 2010 but prior to May 15, 2013 other than an Option; and (d) less 1.92 Shares for every one (1) Share that is subject to any
Award granted on or after May 15, 2013 other than an Option. For all Awards, the Shares issued pursuant to the Plan may be authorized but unissued Shares, or Shares that the Company has reacquired or otherwise holds in treasury. 

Shares that are subject to an Award that for any reason expires, is forfeited, is cancelled, or becomes unexercisable, and Shares that
are for any other reason not paid or delivered under the Plan shall again, except to the extent prohibited by Applicable Law, be available for subsequent Awards under the Plan to the extent provided in this paragraph. The following Shares shall not
be added back to the Shares authorized for issuance: (i) Shares tendered by a Participant or withheld by the Company in payment of the exercise price of an Option or other obligation owed by the Participant to the Company in connection with the
exercise or settlement of the Award, (ii) Shares tendered by a Participant or withheld by the Company to satisfy any tax withholding obligation with respect to an Award, and (iii) Shares subject to an Award that settled for cash (in whole
or in part). Any Shares that again become available for issuance pursuant to this paragraph shall be added back as (a) one (1) Share for every one (1) Share that is subject to an Award granted prior to May 12, 2010; (b) one
(1) Share for every one (1) Share that is subject to an Option granted on or after May 12, 2010; (c) 1.62 Shares for every one (1) Share that is subject to any Award granted on or after May 12, 2010 and prior to
May 15, 2013 other than an Option; and (d) 1.92 Shares for every one (1) Share that is subject to any Award granted on or after May 15, 2013 other than an Option. Notwithstanding the foregoing, but subject to adjustments pursuant
to Section 12, the number of Shares that are available for ISO Awards shall be determined, to the extent required under applicable tax laws, by reducing the number of Shares designated in the preceding paragraph by the number of Shares
issued pursuant to Awards. 
 4. Administration 
 (a) General. The Committee shall administer the Plan in accordance with its terms, provided that the Board may act in lieu of the Committee on any matter. The Committee shall hold meetings
at such times and places as it may determine and shall make such rules and regulations for the conduct of its business as it deems advisable. In the absence of a duly appointed Committee or if the Board otherwise chooses to act in lieu of the
Committee, the Board shall function as the Committee for all purposes of the Plan. 
 (b) Committee Composition.
The Board shall appoint the members of the Committee. If and to the extent permitted by Applicable Law, the Committee may authorize one or more Directors to make Awards to Eligible Persons who are not Reporting Persons. The Board may at any time
appoint additional members to the Committee, remove and replace members of the Committee with or without Cause, and fill vacancies on the Committee however caused. Unless otherwise directed by the Board, the Committee shall be the Compensation
Committee of the Board. 

  
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 (c) Powers of the Committee. Subject to the provisions of the Plan, the Committee
shall have the authority, in its sole discretion: 
 (i) to determine Eligible Persons to whom Awards shall be
granted from time to time and the number of Shares or units to be covered by each Award; 
 (ii) to determine,
from time to time, the Fair Market Value of Shares; 
 (iii) to determine, and to set forth in Award Agreements,
the terms and conditions of all Awards, including any applicable exercise or purchase price, the installments and conditions under which an Award shall become vested (which may be based on performance), terminated, expired, cancelled, or replaced,
and the circumstances for vesting acceleration or waiver of forfeiture restrictions, and other restrictions and limitations; 
 (iv) to approve the forms of Award Agreements and all other documents, notices and certificates in connection therewith which need not be identical either as to type of Award or among Participants;

 (v) to construe and interpret the terms of the Plan and any Award Agreement, to determine the meaning of their
terms, and to prescribe, amend, and rescind rules and procedures relating to the Plan and its administration; 

(vi) in order to fulfill the purposes of the Plan and without amending the Plan, modify, cancel, or waive the
Company’s rights with respect to any Awards, to adjust or to modify Award Agreements for changes in Applicable Law, and to recognize differences in foreign law, tax policies, or customs; and 

(vii) to make all other interpretations and to take all other actions that the Committee may consider necessary or
advisable to administer the Plan or to effectuate its purposes. 
 Subject to Applicable Law and the restrictions set forth in
the Plan, the Committee may delegate administrative functions to individuals who are Reporting Persons, officers, or Employees of the Company or its Affiliates. 
 (d) Deference to Committee Determinations. The Committee shall have the discretion to interpret or construe ambiguous, unclear, or implied (but omitted) terms in any fashion it deems to be
appropriate in its sole discretion, and to make any findings of fact needed in the administration of the Plan or Award Agreements. The Committee’s prior exercise of its discretionary authority shall not obligate it to exercise its authority in
a like fashion thereafter. The Committee’s interpretation and construction of any provision of the Plan, or of any Award or Award Agreement, shall be final, binding, and conclusive. The validity of any such interpretation, construction,
decision or finding of fact shall not be given de novo review if challenged in court, by arbitration, or in any other forum, and shall be upheld unless clearly made in bad faith or materially affected by fraud. 

(e) Prohibition on Repricing. Notwithstanding anything contained in this Plan to the contrary, unless the Company has obtained the
consent of a majority of the Shareholders, in no event will the Committee or the Company authorize any amendment to the Plan, or to any Award 

  
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under the Plan, that would effect a reduction in the price per Share of such Award, other than as a result of a stock split or other recapitalization as contemplated by Section 12.
Furthermore, except as contemplated by Section 12, no Award shall be cancelled and replaced with a grant of an Award having a lesser price per Share without the consent of a majority of the Shareholders. 

(f) No Liability; Indemnification. Neither the Board nor any Committee member, nor any Person acting at the direction of the Board
or the Committee, shall be liable for any act, omission, interpretation, construction or determination made in good faith with respect to the Plan, any Award or any Award Agreement. The Company and its Affiliates shall pay or reimburse any member of
the Committee, as well as any Director, Employee, or Consultant who takes action in connection with the Plan, for all expenses incurred with respect to the Plan, and to the full extent allowable under Applicable Law shall indemnify each and every
one of them for any claims, liabilities, and costs (including reasonable attorney’s fees) arising out of their good faith performance of duties under the Plan. The Company and its Affiliates may obtain liability insurance for this purpose.

 5. Eligibility 
 (a) General Rule. The Committee may grant ISOs only to Employees (including officers who are Employees) of the Company or an Affiliate that is a “parent corporation” or “subsidiary
corporation” within the meaning of Section 424 of the Code, and may grant all other Awards to any Eligible Person. A Participant who has been granted an Award may be granted an additional Award or Awards if the Committee shall so
determine, if such person is otherwise an Eligible Person and if otherwise in accordance with the terms of the Plan. 
 (b)
Grant of Awards. Subject to the express provisions of the Plan, the Committee shall determine from the class of Eligible Persons those individuals to whom Awards under the Plan may be granted, the number of Shares subject to each Award, the
price (if any) to be paid for the Shares or the Award and, in the case of Performance Awards, in addition to the matters addressed in Section 9, the specific objectives, goals and performance criteria that further define the Performance
Award. In no event may the Shares subject to all Options granted to any Eligible Person in any calendar year exceed Five Hundred Thousand (500,000) Shares. Each Award shall be evidenced by an Award Agreement signed by the Company and, if
required by the Committee, by the Participant. The Award Agreement shall set forth the material terms and conditions of the Award established by the Committee, and each Award shall be subject to the terms and conditions set forth in Sections 22,
23, and 24 unless otherwise specifically provided in an Award Agreement. 
 (c) Replacement Awards. Subject to
Applicable Laws (including the last sentence of this section), the Committee may, in its sole discretion and upon such terms as it deems appropriate, require as a condition of the grant of an Award to a Participant that the Participant surrender for
cancellation some or all of the Awards that have previously been granted to the Participant under this Plan or otherwise. An Award that is conditioned upon such surrender may or may not be the same type of Award, may cover the same (or a lesser or
greater) number of Shares as such surrendered Award, may have other terms that are determined without regard to the terms or conditions of such surrendered Award, and may contain any other terms that the

  
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Committee deems appropriate. In the case of Options, these other terms may not involve an Exercise Price that is lower than the Exercise Price of the surrendered Option unless the Company’s
shareholders approve the grant itself or the program under which the grant is made pursuant to the Plan. 
 6. Option Awards

 (a) Types; Documentation. Subject to Section 5(a), the Committee may in its discretion grant Options
pursuant to Award Agreements that are delivered to Participants. Each Option shall be designated in the Award Agreement as an ISO or a Non-ISO, and the same Award Agreement may grant both types of Options. At the sole discretion of the Committee,
any Option may be exercisable, in whole or in part, immediately upon the grant thereof, or only after the occurrence of a specified event, or only in installments, which installments may vary. Options granted under the Plan may contain such terms
and provisions not inconsistent with the Plan that the Committee shall deem advisable in its sole and absolute discretion. 

(b) ISO $100,000 Limitation. To the extent that the aggregate Fair Market Value of Shares with respect to which Options designated
as ISOs first become exercisable by a Participant in any calendar year (under this Plan and any other plan of the Company or any Affiliate) exceeds $100,000, such excess Options shall be treated as Non-ISOs. For purposes of determining whether the
$100,000 limit is exceeded, the Fair Market Value of the Shares subject to an ISO shall be determined as of the Grant Date. In reducing the number of Options treated as ISOs to meet the $100,000 limit, the most recently granted Options shall be
reduced first. In the event that Section 422 of the Code is amended to alter the limitation set forth therein, the limitation of this Section 6(b) shall be automatically adjusted accordingly. 

(c) Term of Options. Each Award Agreement shall specify a term at the end of which the Option automatically expires, subject to
earlier termination provisions contained in Section 6(h) hereof; provided, that, the term of any Option may not exceed ten years from the Grant Date. In the case of an ISO granted to an Employee who is a Ten Percent Holder on the Grant
Date, the term of the ISO shall not exceed five years from the Grant Date. 
 (d) Exercise Price. The exercise price of
an Option shall be determined by the Committee in its sole discretion and shall be set forth in the Award Agreement, provided that – 
  

	 	(i)	if an ISO is granted to an Employee who on the Grant Date is a Ten Percent Holder, the per Share exercise price shall not be less than 110% of the Fair Market Value per
Share on the Grant Date, and 

  

	 	(ii)	for all other Options, such per Share exercise price shall not be less than 100% of the Fair Market Value per Share on the Grant Date. 

(e) Exercise of Option. The times, circumstances and conditions under which an Option shall be exercisable shall be determined by
the Committee in its sole discretion and set forth in the Award Agreement. The Committee shall have the discretion to determine whether and to what extent the vesting of Options shall be tolled during any unpaid leave of absence; provided, however,
that in the absence of such determination, vesting of Options shall be tolled during any such leave approved by the Company. 

  
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 (f) Minimum Exercise Requirements. An Option may not be exercised for a fraction of a
Share. The Committee may require in an Award Agreement that an Option be exercised as to a minimum number of Shares, provided that such requirement shall not prevent a Participant from purchasing the full number of Shares as to which the Option is
then exercisable. 
 (g) Methods of Exercise. Prior to its expiration pursuant to the terms of the applicable
Award Agreement, and subject to the times, circumstances and conditions for exercise contained in the applicable Award Agreement, each Option may be exercised, in whole or in part (provided that the Company shall not be required to issue fractional
shares), by delivery of written notice of exercise to the secretary of the Company accompanied by the full exercise price of the Shares being purchased. In the case of an ISO, the Committee shall determine the acceptable methods of payment on the
Grant Date and it shall be included in the applicable Award Agreement. The methods of payment that the Committee may in its discretion accept or commit to accept in an Award Agreement include: 

(i) cash or check payable to the Company (in U.S. dollars); 

(ii) other Shares that (A) are owned by the Participant who is purchasing Shares pursuant to an Option, (B) have
a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which the Option is being exercised, (C) were not acquired by such Participant pursuant to the exercise of an Option, unless such Shares have
been owned by such Participant for at least six months or such other period as the Committee may determine, (D) are all, at the time of such surrender, free and clear of any and all claims, pledges, liens and encumbrances, or any restrictions
which would in any manner restrict the transfer of such shares to or by the Company (other than such restrictions as may have existed prior to an issuance of such Shares by the Company to such Participant), and (E) are duly endorsed for
transfer to the Company; 
 (iii) a cashless exercise program that the Committee may approve, from time to time
in its discretion, pursuant to which a Participant may concurrently provide irrevocable instructions (A) to such Participant’s broker or dealer to effect the immediate sale of the purchased Shares and remit to the Company, out of the sale
proceeds available on the settlement date, sufficient funds to cover the exercise price of the Option plus all applicable taxes required to be withheld by the Company by reason of such exercise, and (B) to the Company to deliver the
certificates for the purchased Shares directly to such broker or dealer in order to complete the sale; or 
 (iv)
any combination of the foregoing methods of payment. 
 The Company shall not be required to deliver Shares pursuant to the
exercise of an Option until payment of the full exercise price therefore is received by the Company. 

  
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 (h) Termination of Continuous Service. The Committee may establish and set
forth in the applicable Award Agreement the terms and conditions on which an Option shall remain exercisable, if at all, following termination of a Participant’s Continuous Service. The Committee may waive or modify these provisions at any
time. To the extent that a Participant is not entitled to exercise an Option at the date of his or her termination of Continuous Service, or if the Participant (or other person entitled to exercise the Option) does not exercise the Option to the
extent so entitled within the time specified in the Award Agreement or below (as applicable), the Option shall terminate and the Shares underlying the unexercised portion of the Option shall revert to the Plan and become available for future Awards.
In no event may any Option be exercised after the expiration of the Option term as set forth in the Award Agreement. 
 The
following provisions shall apply to the extent an Award Agreement does not specify the terms and conditions upon which an Option shall terminate when there is a termination of a Participant’s Continuous Service: 

(i) Termination other than Upon Disability or Death or for Cause. In the event of termination of a
Participant’s Continuous Service (other than as a result of Participant’s death, disability, retirement or termination for Cause), the Participant shall have the right to exercise an Option at any time within 90 days following such
termination to the extent the Participant was entitled to exercise such Option at the date of such termination. 

(ii) Disability. In the event of termination of a Participant’s Continuous Service as a result of his or her
being Disabled, the Participant shall have the right to exercise an Option at any time within one year following such termination to the extent the Participant was entitled to exercise such Option at the date of such termination. 

(iii) Retirement. In the event of termination of a Participant’s Continuous Service as a result of
Participant’s retirement, the Participant shall have the right to exercise the Option at any time within six months following such termination to the extent the Participant was entitled to exercise such Option at the date of such termination.

 (iv) Death. In the event of the death of a Participant during the period of Continuous Service since
the Grant Date of an Option, or within thirty days following termination of the Participant’s Continuous Service, the Option may be exercised, at any time within one year following the date of the Participant’s death, by the
Participant’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent the right to exercise the Option had vested at the date of death or, if earlier, the date the Participant’s
Continuous Service terminated. 
 (v) Cause. If the Committee determines that a Participant’s
Continuous Service terminated due to Cause, the Participant shall immediately forfeit the right to exercise any Option, and it shall be considered immediately null and void. 

  
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 (i) Reverse Vesting. The Committee in its sole discretion may allow a Participant to
exercise unvested Options, in which case the Shares then issued shall be Restricted Shares having analogous vesting restrictions to the unvested Options. 
 7. Restricted Shares, Restricted Share Units, and Unrestricted Shares 
 (a) Grants. The Committee may in its sole discretion grant restricted shares (“Restricted Shares”) to any Eligible Person and shall evidence such grant in an Award Agreement that
is delivered to the Participant and that sets forth the number of Restricted Shares, the purchase price for such Restricted Shares (if any), and the terms upon which the Restricted Shares may become vested. In addition, the Company may in its
discretion grant to any Eligible Person the right to receive Shares after certain vesting requirements are met (“Restricted Share Units”), and shall evidence such grant in an Award Agreement that is delivered to the Participant and
that sets forth the number of Shares (or formula, that may be based on future performance or conditions, for determining the number of Shares) that the Participant shall be entitled to receive upon vesting and the terms upon which the Shares subject
to a Restricted Share Unit may become vested and the delivery terms for such Shares. The Committee may condition any Award of Restricted Shares or Restricted Share Units to a Participant on receiving from the Participant such further assurances and
documents as the Committee may require to enforce the restrictions. In addition, the Committee may grant Awards hereunder in the form of unrestricted shares (“Unrestricted Shares”), which shall vest in full upon the date of grant or
such other date as the Committee may determine or which the Committee may issue pursuant to any program under which one or more Eligible Persons (selected by the Committee in its sole discretion) elect to pay for such Shares or to receive
Unrestricted Shares in lieu of cash bonuses that would otherwise be paid. 
 (b) Vesting and Forfeiture. The Committee
shall set forth in an Award Agreement granting Restricted Shares or Restricted Share Units, the terms and conditions under which the Participant’s interest in the Restricted Shares or the Shares subject to Restricted Share Units will become
vested and non-forfeitable. Except as set forth in the applicable Award Agreement or the Committee otherwise determines, upon termination of a Participant’s Continuous Service for any other reason, the Participant shall forfeit his or her
Restricted Shares and unvested Restricted Share Units; provided that if a Participant purchases the Restricted Shares and forfeits them for any reason, the Company shall return the purchase price to the Participant only if and to the extent set
forth in an Award Agreement. 
 (c) Issuance of Restricted Shares Prior to Vesting. The Company shall issue stock
certificates that evidence Restricted Shares pending the lapse of applicable restrictions, and that bear a legend making appropriate reference to such restrictions. Except as set forth in the applicable Award Agreement or the Committee otherwise
determines, the Company or a third party that the Company designates shall hold such Restricted Shares and any dividends that accrue with respect to Restricted Shares pursuant to Section 7(e). 

(d) Issuance of Shares upon Vesting. As soon as practicable after vesting of a Participant’s Restricted Shares (or
Shares underlying Restricted Share Units) and the Participant’s satisfaction of applicable tax withholding requirements, the Company shall release 

  
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to the Participant, free from the vesting restrictions, one Share for each vested Restricted Share (or issue one Share free of the vesting restriction for each vested Restricted Share Unit),
unless an Award Agreement provides otherwise. No fractional shares shall be distributed, and cash shall be paid in lieu thereof. 
 (e) Dividends Payable on Vesting. Whenever unrestricted Shares are issued to a Participant pursuant to Section 7(d), the Participant shall also receive, with respect to each
Share issued, (i) a number of Shares equal to the stock dividends which were declared and paid to the holders of Shares between the Grant Date and the date such Share is issued, and (ii) a number of Shares having a Fair Market Value equal
to any cash dividends that were paid to the holders of Shares based on a record date between the Grant Date and the date such Share is issued. 
 (f) Section 83(b) Elections. A Participant may make an election under Section 83(b) of the Code (the “Section 83(b) Election”) with respect to Restricted Shares. If a
Participant who has received Restricted Share Units provides the Committee with written notice of his or her intention to make a Section 83(b) Election with respect to the Shares subject to such Restricted Share Units, the Committee may in its
discretion convert the Participant’s Restricted Share Units into Restricted Shares, on a one-for-one basis, in full satisfaction of the Participant’s Restricted Share Unit Award. The Participant may then make a Section 83(b) Election
with respect to those Restricted Shares. Shares with respect to which a Participant makes a Section 83(b) Election shall not be eligible for deferral pursuant to Section 8. 

(g) Deferral Elections. At any time within the thirty-day period (or other shorter or longer period that the Committee selects in
its sole discretion) in which a Participant who is a member of a select group of management or highly compensated employees (within the meaning of the Code) receives an Award of either Restricted Shares or Restricted Share Units, the Committee may
permit the Participant to irrevocably elect, on a form provided by and acceptable to the Committee, to defer the receipt of all or a percentage of the Shares that would otherwise be transferred to the Participant upon the vesting of such Award. If
the Participant makes this election, the Shares subject to the election, and any associated dividends and interest, shall be credited to an account established pursuant to Section 8 on the date such Shares would otherwise have been
released or issued to the Participant pursuant to Section 7(d). 
 8. Deferred Share Units 

(a) Elections to Defer. The Committee may permit any Eligible Person who is a Director, Consultant or member of a select group of
management or highly compensated employees (within the meaning of the Code) to irrevocably elect, on a form provided by and acceptable to the Committee (the “Election Form”), to forego the receipt of cash or other compensation
(including the Shares deliverable pursuant to any Award other than Restricted Shares for which a Section 83(b) Election has been made), and in lieu thereof to have the Company credit to an internal Plan account (the “Account”)
a number of deferred share units (“Deferred Share Units”) having a Fair Market Value equal to the Shares and other compensation deferred. These credits will be made at the end of each calendar month during which compensation is
deferred. Each Election Form shall take effect on the first day of the next calendar year (or on the first day of the next calendar month in the case of an initial election by a 

  
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Participant who first becomes eligible to defer hereunder) after its delivery to the Company, subject to Section 7(g) regarding deferral of Restricted Shares and Restricted Share
Units and to Section 9(e) regarding deferral of Performance Awards, unless the Company sends the Participant a written notice explaining why the Election Form is invalid within five business days after the Company receives it.
Notwithstanding the foregoing sentence: (i) Election Forms shall be ineffective with respect to any compensation that a Participant earns before the date on which the Company receives the Election Form, and (ii) the Committee may
unilaterally make awards in the form of Deferred Share Units, regardless of whether or not the Participant foregoes other compensation. 
 (b) Vesting. Unless an Award Agreement expressly provides otherwise, each Participant shall be 100% vested at all times in any Shares subject to Deferred Share Units. 

(c) Issuances of Shares. The Company shall provide a Participant with one Share for each Deferred Share Unit in five substantially
equal annual installments that are issued before the last day of each of the five calendar years that end after the date on which the Participant’s Continuous Service terminates, unless – 

(i) the Participant has properly elected a different form of distribution, on a form approved by the Committee, that
permits the Participant to select any combination of a lump sum and annual installments that are completed within ten years following termination of the Participant’s Continuous Service, and 

(ii) the Company received the Participant’s distribution election form at the time the Participant elects to defer
the receipt of cash or other compensation pursuant to Section 8(a), provided that such election may be changed through any subsequent election that (i) is delivered to the Company at least one year before the date on which
distributions are otherwise scheduled to commence pursuant to the Participant’s election, and (ii) defers the commencement of distributions by at least five years from the originally scheduled commencement date. 

Fractional shares shall not be issued, and instead shall be paid out in cash. 

(d) Crediting of Dividends. Whenever Shares are issued to a Participant pursuant to Section 8(c), the Participant
shall also receive, with respect to each Share issued, (i) a number of Shares equal to any stock dividends which were declared and paid to the holders of Shares between the Grant Date and the date such Share is issued, and (ii) a number of
Shares having a Fair Market Value equal to any cash dividends that were paid to the holders of Shares based on a record date between the Grant Date and the date such Share is issued. 

(e) Emergency Withdrawals. In the event a Participant suffers an unforeseeable emergency within the contemplation of this
Section 8(e) and Section 409A of the Code, the Participant may apply to the Company for an immediate distribution of all or a portion of the Participant’s Deferred Share Units. The unforeseeable emergency must result from a
sudden and unexpected illness or accident of the Participant, the Participant’s spouse, or a dependent (within the meaning of Section 152(a) of the Code) of the Participant, casualty loss of the Participant’s

  
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property, or other similar extraordinary and unforeseeable conditions beyond the control of the Participant. Examples of purposes which are not considered unforeseeable emergencies include
post-secondary school expenses or the desire to purchase a residence. In no event will a distribution be made to the extent the unforeseeable emergency could be relieved through reimbursement or compensation by insurance or otherwise, or by
liquidation of the Participant’s nonessential assets to the extent such liquidation would not itself cause a severe financial hardship. The amount of any distribution hereunder shall be limited to the amount necessary to relieve the
Participant’s unforeseeable emergency plus amounts necessary to pay taxes reasonably anticipated as a result of the distribution. The Committee shall determine whether a Participant has a qualifying unforeseeable emergency and the amount which
qualifies for distribution, if any. The Committee may require evidence of the purpose and amount of the need, and may establish such application or other procedures as it deems appropriate. 

(f) Unsecured Rights to Deferred Compensation. A Participant’s right to Deferred Share Units shall at all times
constitute an unsecured promise of the Company to pay benefits as they come due. The right of the Participant or the Participant’s duly-authorized transferee to receive benefits hereunder shall be solely an unsecured claim against the general
assets of the Company. Neither the Participant nor the Participant’s duly-authorized transferee shall have any claim against or rights in any specific assets, shares, or other funds of the Company. 

9. Performance Awards 
 (a) Performance Units. The Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant
which sets forth the terms and conditions of the Award. 
 (b) Performance Compensation Awards. The Committee may, at the
time of grant of a Performance Unit, designate such Award as a “Performance Compensation Award” (payable in cash or Shares) in order that such Award constitutes “qualified performance-based compensation” under Code
Section 162(m), in which event the Committee shall have the power to grant such Performance Compensation Award upon terms and conditions that qualify it as “qualified performance-based compensation” within the meaning of Code
Section 162(m). With respect to each such Performance Compensation Award, the Committee shall establish, in writing within the time required under Code Section 162(m), a “Performance Period,” “Performance Measure(s)”,
and “Performance Formula(e)” (each such term being hereinafter defined). 
 A Participant shall be eligible to receive
payment in respect of a Performance Compensation Award only to the extent that the Performance Measure(s) for such Award is achieved and the Performance Formula(e) as applied against such Performance Measure(s) determines that all or some portion of
such Participant’s Award has been earned for the Performance Period. As soon as practicable after the close of each Performance Period, the Committee shall review and certify in writing whether, and to what extent, the Performance Measure(s)
for the Performance Period have been achieved and, if so, determine and certify in writing the amount of the Performance Compensation Award to be paid to the Participant and, in so doing, may use negative discretion to decrease, but not increase,
the amount of the Award otherwise payable to the Participant based upon such performance. 

  
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 (c) Definitions. 

(i) “Performance Formula” means, for a Performance Period, one or more objective formulas or standards
established by the Committee for purposes of determining whether or the extent to which an Award has been earned based on the level of performance attained or to be attained with respect to one or more Performance Measure(s). Performance Formulae
may vary from Performance Period to Performance Period and from Participant to Participant and may be established on a stand-alone basis, in tandem or in the alternative. 

(ii) “Performance Measure” means one or more of the following selected by the Committee to measure
Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or
revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns on equity, assets, capital, revenue or similar measure; economic value added; working capital; total
shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such measure shall be, to the
extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and in the case of a
Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and
transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in
the alternative. 
 (iii) “Performance Period” means one or more periods of time (of not less
than one fiscal year of the Company), as the Committee may designate, over which the attainment of one or more Performance Measure(s) will be measured for the purpose of determining a Participant’s rights in respect of an Award. 

(d) Deferral Elections. At any time prior to the date that is at least six months before the close of a Performance Period (or
shorter or longer period that the Committee selects) with respect to an Award of either Performance Units or Performance Compensation, the Committee may permit a Participant who is a member of a select group of management or highly compensated
employees (within the meaning of the Code) to irrevocably elect, on a form provided by and acceptable to the Committee, to defer the receipt of all or a percentage of the cash or Shares that would otherwise be transferred to the Participant upon the
vesting of such Award. If the Participant makes this election, the cash or Shares subject to the election, and any 

  
 -12-

 
associated interest and dividends, shall be credited to an account established pursuant to Section 8 on the date such cash or Shares would otherwise have been released or issued to
the Participant pursuant to Section 9(a) or Section 9(b). 
 (e) Crediting of Dividends or Dividend
Equivalents. To the extent an Award of Performance Shares or Performance Units denominated in Shares entitles the Participant to receive dividends or dividend equivalents prior to vesting, such amounts shall be paid at the time the underlying
Shares subject to the Award are issued to the Participant and no dividends or dividend equivalents shall be paid if the performance criteria set forth in the Award are not met. 
 10. Taxes 
 (a) General. As a condition to the issuance or
distribution of Shares pursuant to the Plan, the Participant (or in the case of the Participant’s death, the person who succeeds to the Participant’s rights) shall make such arrangements as the Company may require for the satisfaction of
any applicable federal, state, local or foreign withholding tax obligations that may arise in connection with the Award and the issuance of Shares. The Company shall not be required to issue any Shares until such obligations are satisfied. If the
Committee allows the withholding or surrender of Shares to satisfy a Participant’s tax withholding obligations, the Committee shall not allow Shares to be withheld in an amount that exceeds the minimum statutory withholding rates for federal
and state tax purposes, including payroll taxes. 
 (b) Default Rule for Employees. In the absence of any other
arrangement, an Employee shall be deemed to have directed the Company to withhold or collect from his or her cash compensation an amount sufficient to satisfy such tax obligations from the next payroll payment otherwise payable after the date of the
exercise of an Award. 
 (c) Special Rules. In the case of a Participant other than an Employee (or in the case of an
Employee where the next payroll payment is not sufficient to satisfy such tax obligations, with respect to any remaining tax obligations), in the absence of any other arrangement and to the extent permitted under Applicable Law, the Participant
shall be deemed to have elected to have the Company withhold from the Shares or cash to be issued pursuant to an Award that number of Shares having a Fair Market Value determined as of the applicable Tax Date (as defined below) or cash equal to the
amount required to be withheld. For purposes of this Section 10, the Fair Market Value of the Shares to be withheld shall be determined on the date that the amount of tax to be withheld is to be determined under the Applicable Law (the
“Tax Date”). 
 (d) Surrender of Shares. If permitted by the Committee, in its discretion, a Participant
may satisfy the minimum applicable tax withholding and employment tax obligations associated with an Award by surrendering Shares to the Company (including Shares that would otherwise be issued pursuant to the Award) that have a Fair Market Value
determined as of the applicable Tax Date equal to the amount required to be withheld. In the case of Shares previously acquired from the Company that are surrendered under this Section 10, such Shares must have been owned by the
Participant for more than six months on the date of surrender (or such longer period of time the Company may in its discretion require). 

  
 -13-

 (e) Income Taxes and Deferred Compensation. Participants are
solely responsible and liable for the satisfaction of all taxes and penalties that may arise in connection with Awards (including any taxes arising under Section 409A of the Code), and the Company shall not have any obligation to indemnify or
otherwise hold any Participant harmless from any or all of such taxes. The Committee shall have the discretion to organize any deferral program, to require deferral election forms, and to grant or to unilaterally modify any Award in a manner that
(i) conforms with the requirements of Section 409A of the Code with respect to compensation that is deferred and that vests after December 31, 2004, (ii) that voids any Participant election to the extent it would violate
Section 409A of the Code, and (iii) for any distribution election that would violate Section 409A of the Code, to make distributions pursuant to the Award at the earliest to occur of a distribution event that is allowable under
Section 409A of the Code or any distribution event that is both allowable under Section 409A of the Code and is elected by the Participant, subject to any valid second election to defer, provided that the Committee permits second elections
to defer in accordance with Section 409A(a)(4)(C). The Committee shall have the sole discretion to interpret the requirements of the Code, including Section 409A, for purposes of the Plan and all Awards. 

11. Non-Transferability of Awards 
 (a) General. Except as set forth in this Section 11, or as otherwise approved by the Committee, Awards may not be sold, pledged, assigned, hypothecated, transferred or disposed of in
any manner other than by will or by the laws of descent or distribution, or in the case of an option other than an ISO, pursuant to a domestic relations order as defined under Rule 16a-12 under the Exchange Act. The designation of a beneficiary by a
Participant will not constitute a transfer. An Award may be exercised, during the lifetime of the holder of an Award, only by such holder, the duly-authorized legal representative of a Participant who is Disabled, a transferee permitted by this
Section 11, or except as would cause an ISO to lose such status, by a bankruptcy trustee. 
 (b) Limited
Transferability Rights. Notwithstanding anything else in this Section 11, the Committee may in its discretion provide in an Award Agreement that an Award relating to non-ISOs, Restricted Shares, or Performance Shares may be
transferred, on such terms and conditions as the Committee deems appropriate, either (i) by instrument to the Participant’s “Immediate Family” (as defined below), (ii) by instrument to an inter vivos or testamentary trust
(or other entity) in which the Award is to be passed to the Participant’s designated beneficiaries, or (iii) by gift to charitable institutions. Each share of restricted stock shall be non-transferable until such share becomes
non-forfeitable. Any transferee of the Participant’s rights shall succeed and be subject to all of the terms of the applicable Award Agreement and the Plan. “Immediate Family” means any child, stepchild, grandchild, parent,
stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, and shall include adoptive relationships. 

  
 -14-

 12. Adjustments Upon Changes in Capitalization, Merger or Certain Other Transactions

 (a) Changes in Capitalization. The Committee shall equitably adjust the number of Shares covered by each
outstanding Award, and the number of Shares that have been authorized for issuance under the Plan but as to which no Awards have yet been granted or that have been returned to the Plan upon cancellation, forfeiture, or expiration of an Award, as
well as the price per Share covered by each such outstanding Award, to reflect any increase or decrease in the number of issued Shares resulting from a stock-split, reverse stock-split, stock dividend, combination, recapitalization or
reclassification of the Shares, or any other increase or decrease in the number of issued Shares effected without receipt of consideration by the Company. In the event of any such transaction or event, the Committee may provide in substitution for
any or all outstanding Options under the Plan such alternative consideration (including securities of any surviving entity) as it may in good faith determine to be equitable under the circumstances and may require in connection therewith the
surrender of all Options so replaced. In any case, such substitution of securities shall not require the consent of any person who is granted Options pursuant to the Plan. Except as expressly provided herein, or in an Award Agreement, if the Company
issues for consideration shares of stock of any class or securities convertible into shares of stock of any class, the issuance shall not affect, and no adjustment by reason thereof shall be required to be made with respect to the number or price of
Shares subject to any Award. 
 (b) Dissolution or Liquidation. In the event of the dissolution or liquidation of the
Company other than as part of a Change of Control, each Award will terminate immediately prior to the consummation of such action, subject to the ability of the Committee to exercise any discretion authorized in the case of a Change in Control.

 (c) Change in Control. In the event of a Change in Control, the Committee may in its sole and absolute discretion and
authority, without obtaining the approval or consent of the Company’s shareholders or any Participant with respect to his or her outstanding Awards, take one or more of the following actions: 

(i) arrange for or otherwise provide that each outstanding Award shall be assumed or a substantially similar award shall
be substituted by a successor corporation or a parent or subsidiary of such successor corporation (the “Successor Corporation”); 
 (ii) accelerate the vesting of Awards so that Awards shall vest (and, to the extent applicable, become exercisable) as to the Shares that otherwise would have been unvested and provide that repurchase
rights of the Company with respect to Shares issued upon exercise of an Award shall lapse as to the Shares subject to such repurchase right; 
 (iii) arrange or otherwise provide for the payment of cash or other consideration to Participants in exchange for the satisfaction and cancellation of outstanding Awards; 

(iv) terminate upon the consummation of the transaction, provided that the Committee may in its sole discretion provide
for vesting of all or some outstanding Awards in full as of a date immediately prior to consummation of the 

  
 -15-

 
Change of Control. To the extent that an Award is not exercised prior to consummation of a transaction in which the Award is not being assumed or substituted, such Award shall terminate upon such
consummation; or 
 (v) make such other modifications, adjustments or amendments to outstanding Awards or this
Plan as the Committee deems necessary or appropriate, subject however to the terms of Section 14(a). 

Notwithstanding the above, in the event a Participant holding an Award assumed or substituted by the Successor Corporation in a Change in
Control is Involuntarily Terminated by the Successor Corporation in connection with, or within 12 months following consummation of, the Change in Control, then any assumed or substituted Award held by the terminated Participant at the time of
termination shall accelerate and become fully vested (and exercisable in full in the case of Options), and any repurchase right applicable to any Shares shall lapse in full, unless an Award Agreement provides for a more restrictive acceleration or
vesting schedule or more restrictive limitations on the lapse of repurchase rights or otherwise places additional restrictions, limitations and conditions on an Award. The acceleration of vesting and lapse of repurchase rights provided for in the
previous sentence shall occur immediately prior to the effective date of the Participant’s termination, unless an Award Agreement provides otherwise. 
 (d) Certain Distributions. In the event of any distribution to the Company’s shareholders of securities of any other entity or other assets (other than dividends payable in cash or stock of
the Company) without receipt of consideration by the Company, the Committee may, in its discretion, appropriately adjust the price per Share covered by each outstanding Award to reflect the effect of such distribution. 

13. Time of Granting Awards. 
 The date of grant (“Grant Date”) of an Award shall be the date on which the Committee makes the determination granting such Award or such other date as is determined by the Committee and
set forth in the Award Agreement, provided that in the case of an ISO, the Grant Date shall be the later of the date on which the Committee makes the determination granting such ISO or the date of commencement of the Participant’s employment
relationship with the Company. 
 14. Modification of Awards and Substitution of Options. 

(a) Modification, Extension, and Renewal of Awards. Within the limitations of the Plan, the Committee may modify an Award to
accelerate the rate at which an Option may be exercised (including without limitation permitting an Option to be exercised in full without regard to the installment or vesting provisions of the applicable Award Agreement or whether the Option is at
the time exercisable, to the extent it has not previously been exercised), to accelerate the vesting of any Award, to extend or renew outstanding Awards or to accept the cancellation of outstanding Awards to the extent not previously exercised.
However, the Committee may not cancel an outstanding option that is underwater for the purpose of reissuing the option to the participant at a lower exercise price or granting a replacement award of a different type.

  
 -16-

 
Notwithstanding the foregoing provision, no modification of an outstanding Award shall materially and adversely affect such Participant’s rights thereunder, thereunder (with such an affect
being presumed to arise from a modification that would trigger a violation of Section 409A of the Code), unless either (i) the Participant provides written consent or (ii) before a Change in Control the Committee determines in good
faith that the modification is not materially adverse to the Participant. 
 (b) Substitution of Options.
Notwithstanding any inconsistent provisions or limits under the Plan, in the event the Company or an Affiliate acquires (whether by purchase, merger or otherwise) all or substantially all of outstanding capital stock or assets of another
corporation or in the event of any reorganization or other transaction qualifying under Section 424 of the Code, the Committee may, in accordance with the provisions of that Section, substitute Options for options under the plan of the acquired
company provided (i) the excess of the aggregate fair market value of the shares subject to an option immediately after the substitution over the aggregate option price of such shares is not more than the similar excess immediately before such
substitution and (ii) the new option does not give persons additional benefits, including any extension of the exercise period. 
 15.
Term of Plan. 
 The Plan shall continue in effect for a term of ten (10) years from its effective date as
determined under Section 19, unless the Plan is sooner terminated under Section 16. 
 16. Amendment and
Termination of the Plan. 
 (a) Authority to Amend or Terminate. Subject to Applicable Laws, the Board may from
time to time amend, alter, suspend, discontinue, or terminate the Plan; provided that any amendment to increase the annual restriction on the amount of Awards provided for in Section 3 shall subject to Shareholder approval. 

(b) Effect of Amendment or Termination. No amendment, suspension, or termination of the Plan shall materially and adversely affect
Awards already granted (with such an affect being presumed to arise from a modification that would trigger a violation of Section 409A of the Code) unless either it relates to an adjustment pursuant to Section 12, or modification pursuant
to Section 14(a) above, or it is otherwise mutually agreed between the Participant and the Committee, which agreement must be in writing and signed by the Participant and the Company. Notwithstanding the foregoing, the Committee may amend the
Plan to eliminate provisions which are no longer necessary as a result of changes in tax or securities laws or regulations, or in the interpretation thereof. 
 17. Conditions Upon Issuance of Shares. 
 Notwithstanding any other
provision of the Plan or any agreement entered into by the Company pursuant to the Plan, the Company shall not be obligated, and shall have no liability for failure, to issue or deliver any Shares under the Plan unless such issuance or delivery
would comply with Applicable Law, with such compliance determined by the Company in consultation with its legal counsel. 

  
 -17-

 18. Reservation of Shares. 

The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to
satisfy the requirements of the Plan. 
 19. Effective Date. 

This Plan shall become effective on the date of its approval by the Board; provided that this Plan shall be submitted to the
Company’s stockholders for approval, and if not approved by the stockholders in accordance with Applicable Laws (as determined by the Committee in its sole discretion) within one year from the date of approval by the Board, this Plan and any
Awards shall be null, void, and of no force and effect. Awards granted under this Plan before approval of this Plan by the shareholders shall be granted subject to such approval, and no Shares shall be distributed before such approval. 

20. Controlling Law. 
 All disputes relating to or arising from the Plan shall be governed by the internal substantive laws (and not the laws of conflicts of laws) of the State of Delaware, to the extent not preempted by United
States federal law. If any provision of this Plan is held by a court of competent jurisdiction to be invalid and unenforceable, the remaining provisions shall continue to be fully effective. 
 21. Laws And Regulations. 
 (a) U.S. Securities Laws. This
Plan, the grant of Awards, and the exercise of Options under this Plan, and the obligation of the Company to sell or deliver any of its securities (including, without limitation, Options, Restricted Shares, Restricted Share Units, Deferred Share
Units, and Shares) under this Plan shall be subject to all Applicable Law. In the event that the Shares are not registered under the Securities Act of 1933, as amended (the “Act”), or any applicable state securities laws prior to
the delivery of such Shares, the Company may require, as a condition to the issuance thereof, that the persons to whom Shares are to be issued represent and warrant in writing to the Company that such Shares are being acquired by him or her for
investment for his or her own account and not with a view to, for resale in connection with, or with an intent of participating directly or indirectly in, any distribution of such Shares within the meaning of the Act, and a legend to that effect may
be placed on the certificates representing the Shares. 
 (b) Other Jurisdictions. To facilitate the making of any grant
of an Award under this Plan, the Committee may provide for such special terms for Awards to Participants who are foreign nationals or who are employed by the Company or any Affiliate outside of the United States of America as the Committee may
consider necessary or appropriate to accommodate differences in local law, tax policy or custom. The Company may adopt rules and procedures 

  
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relating to the operation and administration of this Plan to accommodate the specific requirements of local laws and procedures of particular countries. Without limiting the foregoing, the
Company is specifically authorized to adopt rules and procedures regarding the conversion of local currency, taxes, withholding procedures and handling of stock certificates which vary with the customs and requirements of particular countries. The
Company may adopt sub-plans and establish escrow accounts and trusts as may be appropriate or applicable to particular locations and countries. 

22. No Shareholder Rights. Neither a Participant nor any transferee of a Participant shall have any rights as a shareholder of the Company
with respect to any Shares underlying any Award until the date of issuance of a share certificate to a Participant or a transferee of a Participant for such Shares in accordance with the Company’s governing instruments and Applicable Law. Prior
to the issuance of Shares pursuant to an Award, a Participant shall not have the right to vote or to receive dividends or any other rights as a shareholder with respect to the Shares underlying the Award, notwithstanding its exercise in the case of
Options. No adjustment will be made for a dividend or other right that is determined based on a record date prior to the date the stock certificate is issued, except as otherwise specifically provided for in this Plan. 

23. No Employment Rights. The Plan shall not confer upon any Participant any right to continue an employment, service or consulting
relationship with the Company, nor shall it affect in any way a Participant’s right or the Company’s right to terminate the Participant’s employment, service, or consulting relationship at any time, with or without Cause. 

24. Termination, Rescission and Recapture of Awards. Notwithstanding any other provision of the Plan, but subject to any contrary terms set
forth in any Award Agreement, this Section 24 shall only apply to a Participant who is, on the Award Date, an Employee of the Company or its Affiliates, and shall automatically cease to apply to any Participant from and after his or her
termination of Continuous Service after a Change in Control. 
 (a) Each Award under the Plan is intended to align the
Participant’s long-term interest with those of the Company. If the Participant engages in certain activities discussed below, either during employment or after employment with the Company terminates for any reason, the Participant is acting
contrary to the long-term interests of the Company. Accordingly, except as otherwise expressly provided in the Award Agreement, the Company may terminate any outstanding, unexercised, unexpired, unpaid, or deferred Awards
(“Termination”), rescind any exercise, payment or delivery pursuant to the Award (“Rescission”), or recapture any Common Stock (whether restricted or unrestricted) or proceeds from the Participant’s sale of
Shares issued pursuant to the Award (“Recapture”), if the Participant does not comply with the conditions of subsections (b) and (c) hereof (collectively, the “Conditions”). 

(b) A Participant shall not, without the Company’s prior written authorization, disclose to anyone outside the Company, or use in
other than the Company’s business, any proprietary or confidential information or material, as those or other similar terms are used in any applicable patent, confidentiality, inventions, secrecy, or other agreement between the Participant and
the Company with regard to any such proprietary or confidential information or material. 

  
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 (c) Pursuant to any agreement between the Participant and the Company with regard to
intellectual property (including but not limited to patents, trademarks, copyrights, trade secrets, inventions, developments, improvements, proprietary information, confidential business and personnel information), a Participant shall promptly
disclose and assign to the Company or its designee all right, title, and interest in such intellectual property, and shall take all reasonable steps necessary to enable the Company to secure all right, title and interest in such intellectual
property in the United States and in any foreign country. 
 (d) Upon exercise, payment, or delivery of cash or Common Stock
pursuant to an Award, the Participant shall certify on a form acceptable to the Company that he or she is in compliance with the terms and conditions of the Plan and, if a severance of Continuous Service has occurred for any reason, shall state the
name and address of the Participant’s then-current employer or any entity for which the Participant performs business services and the Participant’s title, and shall identify any organization or business in which the Participant owns a
greater-than-five-percent equity interest. 
 (e) If the Company determines, in its sole and absolute discretion, that
(i) a Participant has violated any of the Conditions or (ii) during his or her Continuous Service, or within 2 years after its termination for any reason, a Participant (a) has rendered services to or otherwise directly or indirectly
engaged in or assisted, any organization or business that, in the judgment of the Company in its sole and absolute discretion, is or is working to become competitive with the Company; (b) has solicited any non-administrative employee of the
Company to terminate employment with the Company; or (c) has engaged in activities which are materially prejudicial to or in conflict with the interests of the Company, including any breaches of fiduciary duty or the duty of loyalty, then the
Company may, in its sole and absolute discretion, impose a Termination, Rescission, and/or Recapture with respect to any or all of the Participant’s relevant Awards, Shares, and the proceeds thereof. 

(f) Within ten days after receiving notice from the Company of any such activity, the Participant shall deliver to the Company the Shares
acquired pursuant to the Award, or, if Participant has sold the Shares, the gain realized, or payment received as a result of the rescinded exercise, payment, or delivery; provided, that if the Participant returns Shares that the Participant
purchased pursuant to the exercise of an Option (or the gains realized from the sale of such Common Stock), the Company shall promptly refund the exercise price, without earnings, that the Participant paid for the Shares. Any payment by the
Participant to the Company pursuant to this Section 24 shall be made either in cash or by returning to the Company the number of Shares that the Participant received in connection with the rescinded exercise, payment, or delivery. It
shall not be a basis for Termination, Rescission or Recapture if after termination of a Participant’s Continuous Service, the Participant purchases, as an investment or otherwise, stock or other securities of such an organization or business,
so long as (i) such stock or other securities are listed upon a recognized securities exchange or traded over-the-counter, and (ii) such investment does not represent more than a five percent (5%) equity interest in the organization
or business. 
 (g) Notwithstanding the foregoing provisions of this Section, the Company has sole and absolute discretion not
to require Termination, Rescission and/or Recapture, and its 

  
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determination not to require Termination, Rescission and/or Recapture with respect to any particular act by a particular Participant or Award shall not in any way reduce or eliminate the
Company’s authority to require Termination, Rescission and/or Recapture with respect to any other act or Participant or Award. Nothing in this Section shall be construed to impose obligations on the Participant to refrain from engaging in
lawful competition with the Company after the termination of employment that does not violate subsections (b) or (c) of this Section, other than any obligations that are part of any separate agreement between the Company and the
Participant or that arise under applicable law. 
 (h) All administrative and discretionary authority given to the Company under
this Section shall be exercised by the most senior human resources executive of the Company or such other person or committee (including without limitation the Committee) as the Committee may designate from time to time. 

(i) Notwithstanding any provision of this Section, if any provision of this Section is determined to be unenforceable or invalid under
any applicable law, such provision will be applied to the maximum extent permitted by applicable law, and shall automatically be deemed amended in a manner consistent with its objectives to the extent necessary to conform to any limitations required
under applicable law. Furthermore, if any provision of this Section is illegal under any applicable law, such provision shall be null and void to the extent necessary to comply with applicable law. 

  
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 Biomarin Pharmaceutical Inc. 

SHARE INCENTIVE PLAN 
  

 
 Appendix A:
Definitions 
  
  

As used in the Plan, the following definitions shall apply: 
 “Affiliate” means, with respect to any Person (as defined below), any other Person that directly or indirectly controls or is controlled by or under common control with such
Person. For the purposes of this definition, “control,” when used with respect to any Person, means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of such Person or the
power to elect directors, whether through the ownership of voting securities, by contract or otherwise; and the terms “affiliated,” “controlling” and “controlled” have meanings correlative to the foregoing. 

“Applicable Law” means the legal requirements relating to the administration of options and share-based plans
under applicable U.S. federal and state laws, the Code, any applicable stock exchange or automated quotation system rules or regulations, and the applicable laws of any other country or jurisdiction where Awards are granted, as such laws, rules,
regulations and requirements shall be in place from time to time. 
 “Award” means any award made
pursuant to the Plan, including awards made in the form of an Option, a Restricted Share, a Restricted Share Unit, an Unrestricted Share, a Deferred Share Unit, and a Performance Award, or any combination thereof, whether alternative or cumulative,
authorized by and granted under this Plan. 
 “Award Agreement” means any written document setting forth
the terms of an Award that has been authorized by the Committee. The Committee shall determine the form or forms of documents to be used, and may change them from time to time for any reason. 

“Board” means the Board of Directors of the Company. 

“Cause” for termination of a Participant’s Continuous Service will have the meaning set forth in any
unexpired employment agreement between the Company and the Participant. In the absence of such an agreement, “Cause” will exist if the Participant is terminated from employment or other service with the Company or an Affiliate for any of
the following reasons: (i) the Participant’s willful failure to substantially perform his or her duties and responsibilities to the Company or deliberate violation of a material Company policy; (ii) the Participant’s commission
of any material act or acts of fraud, embezzlement, dishonesty, or other willful misconduct; (iii) the Participant’s material unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party
to whom the Participant owes an obligation of nondisclosure as a result of his or her relationship with the Company; or (iv) Participant’s willful and material breach of any of his or her obligations under any written agreement or covenant
with the Company. 

 The Committee shall in its discretion determine whether or not a Participant is being
terminated for Cause. The Committee’s determination shall, unless arbitrary and capricious, be final and binding on the Participant, the Company, and all other affected persons. The foregoing definition does not in any way limit the
Company’s ability to terminate a Participant’s employment or consulting relationship at any time, and the term “Company” will be interpreted herein to include any Affiliate or successor thereto, if appropriate. 

“Change in Control” means any of the following: 

(i) Acquisition of Controlling Interest. Any Person becomes the Beneficial Owner, directly or indirectly, of
securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities. In applying the preceding sentence, (i) securities acquired directly from the Company or its Affiliates by or for
the Person shall not be taken into account, and (ii) an agreement to vote securities shall be disregarded unless its ultimate purpose is to cause what would otherwise be Change of Control, as reasonably determined by the Board. 

(ii) Change in Board Control. During a consecutive 2-year period commencing after the date of adoption of this
Plan, individuals who constituted the Board at the beginning of the period (or their approved replacements, as defined in the next sentence) cease for any reason to constitute a majority of the Board. A new Director shall be considered an
“approved replacement” Director if his or her election (or nomination for election) was approved by a vote of at least a majority of the Directors then still in office who either were Directors at the beginning of the period or were
themselves approved replacement Directors, but in either case excluding any Director whose initial assumption of office occurred as a result of an actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the
Board. 
 (iii) Merger. The Company consummates a merger, or consolidation of the Company with any other
corporation unless: (a) the voting securities of the Company outstanding immediately before the merger or consolidation would continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving
entity) at least 50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; and (b) no Person becomes the Beneficial Owner, directly or
indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities. 
 (iv) Sale of Assets. The stockholders of the Company approve an agreement for the sale or disposition by the Company of all, or substantially all, of the Company’s assets. 

(v) Liquidation or Dissolution. The stockholders of the Company approve a plan or proposal for liquidation or
dissolution of the Company. 

  
 -2-

 Notwithstanding the foregoing, a “Change in Control” shall not be deemed to have
occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the common stock of the Company immediately prior to such transaction or series of transactions continue
to have substantially the same proportionate ownership in an entity which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Committee” means one or more committees or subcommittees of the Board appointed by the Board to administer the
Plan in accordance with Section 4 above. With respect to any decision involving an Award intended to satisfy the requirements of Section 162(m) of the Code, the Committee shall consist of two or more Directors of the Company who are
“outside directors” within the meaning of Section 162(m) of the Code. With respect to any decision relating to a Reporting Person, the Committee shall consist of two or more Directors who are disinterested within the meaning of Rule
16b-3. 
 “Company” means BioMarin Pharmaceutical Inc., a Delaware corporation; provided, however, that
in the event the Company reincorporates to another jurisdiction, all references to the term “Company” shall refer to the Company in such new jurisdiction. 
 “Consultant” means any person, including an advisor, who is engaged by the Company or any Affiliate to render services and is compensated for such services. 

“Continuous Service” means the absence of any interruption or termination of service as an Employee, Director, or
Consultant. Continuous Service shall not be considered interrupted in the case of: (i) sick leave; (ii) military leave; (iii) any other leave of absence approved by the Committee, provided that such leave is for a period of not more
than 90 days, unless reemployment upon the expiration of such leave is guaranteed by contract or statute, or unless provided otherwise pursuant to Company policy adopted from time to time; (iv) changes in status from Director to advisory
director or emeritus status; or (iv) in the case of transfers between locations of the Company or between the Company, its Affiliates or their respective successors. Changes in status between service as an Employee, Director, and a Consultant
will not constitute an interruption of Continuous Service. 
 “Deferred Share Units” mean Awards
pursuant to Section 8. 
 “Director” means a member of the Board, or a member of the board
of directors of an Affiliate. 
 “Disabled” means a condition under which a Participant 

  
 -3-

 (a) is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or 
 (b) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months,
received income replacement benefits for a period of not less than 3 months under an accident or health plan covering employees of the Company. 
 “Eligible Person” means any Consultant, Director or Employee and includes non-Employees to whom an offer of employment has been extended. 

“Employee” means any person whom the Company or any Affiliate classifies as an employee (including an officer)
for employment tax purposes, whether or not that classification is correct. The payment by the Company of a director’s fee to a Director shall not be sufficient to constitute “employment” of such Director by the Company. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Fair Market Value” means, as of any date (the “Determination Date”) means: (i) the closing
price of a Share on the New York Stock Exchange or the American Stock Exchange (collectively, the “Exchange”), on the Determination Date, or, if shares were not traded on the Determination Date, then on the nearest preceding trading
day during which a sale occurred; or (ii) if such stock is not traded on the Exchange but is quoted on NASDAQ or a successor quotation system, (A) the last sales price (if the stock is then listed as a National Market Issue under The
Nasdaq National Market System) or (B) the mean between the closing representative bid and asked prices (in all other cases) for the stock on the Determination Date as reported by NASDAQ or such successor quotation system; or (iii) if such
stock is not traded on the Exchange or quoted on NASDAQ but is otherwise traded in the over-the-counter, the mean between the representative bid and asked prices on the Determination Date; or (iv) if subsections (i)-(iii) do not apply, the
fair market value established in good faith by the Board. 
 “Grant Date” has the meaning set forth in
Section 13. 
 “Incentive Share Option or ISO” hereinafter means an Option intended to
qualify as an incentive stock option within the meaning of Section 422 of the Code, as designated in the applicable Award Agreement. 
 “Involuntary Termination” means termination of a Participant’s Continuous Service under the following circumstances occurring on or after a Change in Control:
(i) termination without Cause by the Company or an Affiliate or successor thereto, as appropriate; or (ii) voluntary termination by the Participant within 60 days following (A) a material reduction in the Participant’s job
responsibilities, provided that neither a mere change in title alone nor reassignment to a substantially similar position shall constitute a material reduction in job responsibilities; (B) an involuntary relocation of the Participant’s
work site to a facility or location more than 50 miles from the Participant’s principal work site at the time of the Change 

  
 -4-

 
in Control; or (C) a material reduction in Participant’s total compensation other than as part of an reduction by the same percentage amount in the compensation of all other
similarly-situated Employees, Directors or Consultants. 
 “Non-ISO” means an Option not intended to
qualify as an ISO, as designated in the applicable Award Agreement. 
 “Option” means any stock option
granted pursuant to Section 6. 
 “Participant” means any holder of one or more Awards, or
the Shares issuable or issued upon exercise of such Awards, under the Plan. 
 “Performance Awards” mean
Performance Units and Performance Compensation Awards granted pursuant to Section 9. 
 “Performance
Compensation Awards” mean Awards granted pursuant to Section 9(b). 
 “Performance
Unit” means Awards granted pursuant to Section 9(a), which may be paid in cash, in Shares, or such combination of cash and Shares as the Committee in its sole discretion shall determine.  

“Person” means any natural person, association, trust, business trust, cooperative, corporation, general
partnership, joint venture, joint-stock company, limited partnership, limited liability company, real estate investment trust, regulatory body, governmental agency or instrumentality, unincorporated organization or organizational entity. 

“Plan” means this BioMarin Pharmaceutical Inc. 2006 Share Incentive Plan. 

“Reporting Person” means an officer, Director, or greater than ten percent shareholder of the Company within the
meaning of Rule 16a-2 under the Exchange Act, who is required to file reports pursuant to Rule 16a-3 under the Exchange Act. 

“Restricted Shares” mean Shares subject to restrictions imposed pursuant to Section 7. 

“Restricted Share Units” mean Awards pursuant to Section 7. 

“Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act, as amended from time to time, or any successor
provision. 
 “Separation from Service” has the meaning set forth in Section 9 of the Plan.

 “Share” means a share of common stock of the Company, as adjusted in accordance with
Section 12. 
 “Ten Percent Holder” means a person who owns stock representing more than ten
percent (10%) of the combined voting power of all classes of stock of the Company or any Affiliate. 

“Unrestricted Shares” mean Shares awarded pursuant to Section 7. 

  
 -5-

 BIOMARIN PHARMACEUTICAL INC. 

2006 SHARE INCENTIVE PLAN 
 As approved by the Board of 
 Directors on March 28, 2013 

and the Stockholders on 
 May 15, 2013.EX-10.1

 Exhibit 10.1 
 PURCHASE AND SALE AGREEMENT 
 THIS PURCHASE AND SALE AGREEMENT
(“Agreement”) is made as of this 13th day of May, 2013 (the “Effective Date”) by and between ECHO WARREN ASSOCIATES, L.P., a Delaware limited partnership, (“Seller”), and WHLR-WARREN COMMONS, LLC, a Delaware limited
liability company, or assigns (“Purchaser”). 
 WITNESSETH: 

WHEREAS, Seller owns a shopping center containing approximately 14.815 acres of land and buildings with approximately 46,644 square feet
of leasable area, commonly referred to as Warren Commons Shopping Center, with an address of 2829 Market Street, 2759-2775 Market Street, 2801-2821 Market Street and the detention basin at the southwest corner of Warren Commons, as more fully
hereinafter described, and desires to sell same to Purchaser; and 
 WHEREAS, Purchaser desires to acquire such shopping center
and related assets; 
 NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein contained, the
parties agree as follows: 
 1. Property. Subject to the terms and conditions hereof, Seller agrees to sell to Purchaser,
and Purchaser agrees to purchase from Seller, the following described property: 
 A. All those certain tracts or parcels of
land located in Conewango Township, Warren County, Pennsylvania, consisting of approximately 14.815 acres of land as more particularly described on Exhibit “A” attached hereto and by this reference incorporated herein, together with
the buildings, certain driveways, parking areas, stormwater ponds, and all other improvements located thereon owned by Seller (the “Improvements”), and together with all appurtenances, rights, easements, rights of way, tenements and
hereditaments incident thereto and all title and interest, if any, of Seller in and to any land lying in the bed of any street, road or avenue, open, closed or proposed, in front of or adjoining said tracts of land (said tracts of land, the
Improvements and all other rights described above being hereinafter collectively referred to as the “Real Property”); and 
 B. All equipment, furniture, furnishings, supplies and other fixtures of every description located on, or attached to the Real Property and which are owned by Seller as of the Effective Date (the
“Additional Property”), and 
 C. All of the landlord’s interest in all leases of portions of the Real Property
(the “Leases”), as more particularly described in the rent roll on Exhibit “B” attached hereto and by this reference made a part hereof; and 
 D. To the extent of Seller’s interest therein, if any, and to the extent assignable, all reciprocal easement agreements, operating agreements, development agreements, warranties, guarantees and
bonds, certificates of occupancy, trade names, service marks, service contracts (to the extent assumed by Purchaser), governmental and regulatory licenses and 

  
 1 

 
permits (including any permits relating to stormwater management), final working drawings, engineering plans, utilities lay-out plans, surveys, topographical plans and plans and specifications
with respect to the development, use or operation of the Real Property (the “Intangible Property”). 
 The Real
Property, Additional Property, Leases and the Intangible Property are hereinafter collectively referred to as the “Property”. 
 2. Purchase Price and Terms of Payment. 
 A. The purchase price
(“Purchase Price”) for the Property shall be Five Million Two Hundred Fifty Thousand and 00/100 DOLLARS ($5,250,000.00) and shall be paid on the Closing Date by Federal funds wire transfer, in United States dollars. The Deposit (as
hereinafter defined) shall be paid by the Escrow Agent to Seller at closing and shall be credited against the Purchase Price. 

B. Purchaser shall deposit with the Pittsburgh office of Chicago Title Insurance Company (“Escrow Agent”), within two
(2) business days after the Effective Date, the sum of Twenty Five Thousand Dollars, ($25,000.00) (the “Initial Deposit”). Within two (2) business days after the expiration of the Review Period (as defined below), unless this
Agreement has been sooner terminated, Purchaser shall deposit with the Escrow Agent, the additional sum of Twenty Five Thousand Dollars ($25,000.00) (the “Second Deposit”). In the event this Agreement is not so terminated and the Second
Deposit is not paid to the Escrow Agent within two (2) business days after the expiration of the Review Period, Seller may terminate this Agreement and receive the Initial Deposit and any interest thereon, in which event neither party shall
have any further liability or responsibility hereunder other than Purchaser’s liability for the Second Deposit and any liability under Section 3 of this Agreement. As used in this Agreement, “Deposit” shall refer collectively to
the Initial Deposit and the Second Deposit, together with all interest earned thereon, if any. If the transaction contemplated by this Agreement closes in accordance with the terms and conditions of this Agreement, at Closing, as defined below, the
Deposit shall be delivered by the Escrow Agent to Seller as payment toward the Purchase Price. If the transaction fails to close due to a default on the part of Seller or if a condition set forth in this Agreement for the benefit of Purchaser is not
satisfied or removed and this Agreement shall be terminated by Purchaser, the Deposit shall be delivered by the Escrow Agent to Purchaser and Purchaser shall have the applicable remedies set forth in Section 13 of this Agreement. If the
transaction fails to close due to a default on the part of Purchaser, Seller shall have the applicable remedies set forth in Section 3 and Section 14 of this Agreement. Notwithstanding any provision of this Agreement to the contrary,
Escrow Agent’s duties and responsibilities are set forth in the escrow agreement (the “Escrow Agreement”) attached hereto as Exhibit “E” and incorporated herein by this reference. 

C. Purchaser shall receive a credit against the Purchase Price for an amount of the outstanding principal balance as of the Closing Date
of a loan currently held by Bank of America, (“Mortgagee”) in the original amount of Four Million Two Hundred and Fifty Thousand ($4,250,000.00), having a principal balance as of February 28, 2013, of $4,231,428.96 (the
“Mortgage”), 

  
 2 

 C. The remaining balance of the Purchase Price shall be payable (i) by Purchaser’s
assumption of the principal balance of the Mortgage (as hereinafter defined) as of the Closing, and (ii) the balance in cash, or by wire transfer or other immediately available funds, to Seller on the Closing Date. 

3. Review Period; Inspection. 
 A. At all times during the period commencing on the Effective Date and terminating on the date that is sixty (60) days thereafter (the “Review Period”), Purchaser, its agents, employees,
representatives and contractors, at Purchaser’s sole cost and expense, shall have the rights: 
 1. Subject to and without
violating any of the rights of other parties under any Leases, to enter upon the Real Property described in Exhibit “A” at all reasonable times, and after reasonable advance notice to Seller, to perform such tests, inspections and
examinations of the Real Property described in Exhibit “A” as Purchaser reasonably deems advisable, including the structural condition of, and all electrical and mechanical systems contained in, the Improvements, and to make
investigations with regard to title to the Real Property, environmental matters, matters of survey, flood plain of the Real Property, utilities availability, zoning and building code and other applicable governmental requirements with regard to the
Real Property and the use thereof; provided that, prior to any such entry, Purchaser shall comply with all of the provisions of Section 3 of this Agreement. With respect to the foregoing investigations, Purchaser, its agents, employees,
representatives and contractors, may enter upon the Real Property described in Exhibit “A” and do all things necessary in connection therewith, subject to and without violating any of the rights of other parties under any Leases,
and provided they do not adversely affect any portion of the Property. Purchaser shall not, and shall cause its agents, consultants, contractors, subcontractors, and its or their respective agents, employees or representatives agents, employees and
representatives not to, violate any of the rights of other parties under any Leases or otherwise unreasonably disturb any of such parties while conducting its inspections, tests and studies. Purchaser shall indemnify, defend and hold Seller harmless
from and against all cost, loss, liability, damage and expense, including reasonable attorneys’ fees (including costs of enforcing this provision) arising out of any violation of this Section 3 and any other actions or omissions of
Purchaser or any of its contractors or subcontractors or any of its or their respective agents, employees or representatives, whether or not involving negligence or greater fault, relating to the activities upon the Real Property pursuant to the
terms of this paragraph; and 
 2. After reasonable advance notice to Seller, to investigate and review any and all books and
records relating to the Property and all Leases, service agreements, tenant correspondence, operating statements, warranties, guarantees or bonds, certificates of occupancy, governmental or regulatory licenses and permits, plans and specifications
and other items relating to the Property. Within five (5) days of the Effective Date Seller shall forward to Purchaser true and complete copies of all the items set forth on 

  
 3 

 
Exhibit “C” to the extent that such items are in its possession or control. At all reasonable times as requested by Purchaser, Seller shall make available to Purchaser, its counsel and
accountants, all financial and operating data and other books and records pertaining to the Property under Seller’s control. 
 B. Purchaser shall comply with the following in connection with each exercise of rights pursuant to subsection A. above: 
 1. Each person and entity whom Purchaser shall propose to enter the Property shall be competent and duly licensed to perform the investigation of the Property to be performed by such person or entity and
shall otherwise be subject to the prior approval of Seller, which approval shall not be unreasonably withheld; 
 2. Each
person and entity who shall enter the Property shall first deliver to Seller evidence of public liability and property damage insurance naming such person as insured and Seller as an additional insured, in an amount not less than One Million Dollars
($1,000,000); 
 3. No core sampling, drilling or other type of invasive testing shall be permitted unless (A) Seller
shall have a received evidence of the need therefor based on a Phase I environmental assessment by duly qualified personnel, indicating a need for such further testing, and (B) Seller shall have approved the location and extent of any such
testing, which consent shall not be unreasonably withheld, delayed or conditioned; 
 4. Purchaser shall comply, and shall
cause each person and entity involved in any activity in connection with or as a result of Purchaser’s investigation to comply, with all applicable laws, regulations, ordinances, orders and other legal requirements in connection with any
activity undertaken with respect to the Property; 
 5. It is understood that any approval given by Seller shall be solely for
Seller’s own protection and shall not be construed to waive or limit any obligation of Purchaser under this Agreement or otherwise; 
 C. Purchaser shall have the right during the Review Period to determine that it is satisfied, in its sole and absolute discretion, with the results of any of the tests, inspections or investigations
relating to the Property or the operation thereof, and that the Property is suitable in all respects for Purchaser’s intended purposes or needs. In the event Purchaser does not, prior to the end of the Review Period, notify Seller in writing of
the waiver of its right to terminate this Agreement pursuant to its review of the items as set forth in this Section 3, this Agreement shall automatically terminate without requirement of further action on the part of Purchaser or Seller. In
the event of any termination of this Agreement, Purchaser shall immediately return to Seller any documents, plans, studies or other materials that were provided to Purchaser by Seller related to the Property, and so long as Purchaser is not in
default hereunder, the Deposit shall be refunded to Purchaser and neither party shall have any further liability or obligations to the other hereunder; provided, however, that the obligations contained in this Section 3 shall survive the
termination of this Contract. 

  
 4 

 D. Purchaser shall purchase the Property in its AS IS, WHERE IS condition with all faults of
any kind or nature whatsoever, it being understood that, except for the warranties or representations of Seller expressly set forth in this Agreement that expressly survive the closing (and only for the period of time expressly so surviving), Seller
in no way represents or warrants, and specifically disclaims any responsibility or liability with respect to, (i) the condition or quality of the Property, (ii) the suitability of the Property for Purchaser’s intended use or
(iii) the presence of any other conditions that affect the Property, including without limitation the presence of hazardous substances or materials in violation of applicable environmental or other laws. 

E. The provisions of this Section 3 shall survive the termination of this Agreement and the closing of this transaction and delivery
of the Special Warranty Deed, and shall not merge therein or be extinguished thereby. 
 4. Title. 

A. Purchaser shall obtain a current ALTA owner’s title commitment for title insurance (the “Title Commitment”) issued by
Escrow Agent, together with true and complete copies of all exceptions contained therein. Purchaser shall order, at its cost and expense, an ALTA Survey (the “Survey”). Upon the receipt of the Title Commitment and the Survey, Purchaser
shall promptly review such information. In all events, at least ten (10) days before the expiration of the Review Period, Purchaser shall furnish a copy thereof to Seller, together with a statement either that Purchaser approves title to the
Property (including all Permitted Exceptions (as hereinafter defined) or that identifies exceptions shown in the Title Commitment that Purchaser requests Seller to remove (“Purchaser’s Notice”). If Purchaser shall not timely give
Purchaser’s Notice, Purchaser shall be deemed to have found the title to the Property to be unacceptable and to have elected to terminate this Agreement. If Purchaser’s Notice shall request Seller to remove any exceptions shown in the
Title Commitment, then within five (5) days after receipt of Purchaser’s Notice, Seller shall give notice (“Seller’s Notice”) to Purchaser stating those exceptions, if any, so identified in Purchaser’s Notice that
Seller is willing to undertake to satisfy; provided however that, if Seller shall not timely give Seller’s Notice, then Seller shall be deemed to have elected not to undertake any efforts to remove any such exceptions. If, in Seller’s
Notice, Seller shall have elected to undertake any efforts to remove any such exceptions, Seller shall not have an obligation to remove the same and, by further notice to Purchaser, may discontinue such efforts at any time during the Review Period.
Purchaser may terminate this Agreement if Seller provides such notice of discontinuance of efforts during the Review Period. If Purchaser does not terminate this Agreement, then such matter and any other matters deemed to be Permitted Exceptions as
provided in Section 4 A hereinabove shall be considered Permitted Exceptions. If Seller shall have elected in Seller’s Notice (or shall be deemed to have elected) not to undertake efforts to remove any exceptions identified in
Purchaser’s Notice to be removed, then Purchaser, by further notice to Seller within five (5) days after the due date of Seller’s Notice shall either terminate this Agreement or shall accept such exceptions as Permitted Exceptions. In
the absence of any such further notice by Purchaser, Purchaser shall be deemed to have elected to terminate this Agreement and the Deposit shall be returned to Purchaser by Escrow Agent. In the event that Chicago Title Insurance Company adds new
exceptions to its Title 

  
 5 

 
Commitment for matters that are of record as of the Effective Date but were omitted by the title company in the original Title Commitment after the above title process has been completed, the
above title process will be initiated again to address any such new exceptions to the Title Commitment. 
 B. Title to the
Property shall be good and marketable, free and clear of all mortgages, liens and encumbrances, and free and clear of all leases, security interests, restrictions, rights-of-way, easements and other matters, except for the Permitted Exceptions. For
purposes of this Agreement, “Permitted Exceptions” shall mean (i) all Leases, as more particularly described on the rent roll on Exhibit “B”, (ii) the Mortgage and related liens and assignments and (iii) all
title matters and exceptions to which Purchaser does not object pursuant to Section 4 A hereinabove and any other matters deemed to be Permitted Exceptions as provided in Section 4 A hereinabove. 

5. Seller’s Representations and Warranties. Seller warrants and represents to Purchaser as follows, which warranties and
representations shall be deemed made on the Effective Date and shall be reaffirmed at Closing (subject to any change hereafter occurring with respect to the information referred to in subsections E. F., H. I., J. or K. (as to claims or defaults by
tenants)). 
 A. The title to the Property is, and at Closing will be, free and clear of all liens, encumbrances or leases,
except the Permitted Exceptions. It shall be a condition to Purchaser’s obligation to proceed to the Closing that title to the Property will be marketable and good of record and insurable at standard title insurance company rates of the Escrow
Agent, subject only to the Permitted Exceptions. 
 B. Seller is a validly existing Delaware limited partnership in good
standing and has the authority to enter into and perform its obligations under this Agreement. The person executing this Agreement on behalf of Seller has been authorized to do so. 

C. The execution and delivery of this Agreement do not, and the consummation of the transaction contemplated hereby will not in any
material respect, require any approval, consent, authorization or order of, or filing with, any private party or any governmental agency or body or violate any law, rule or regulation or any order, arbitration award, judgment or decree to which
Seller is a party or by which it or any of the Property is bound. 
 D. The Property is not subject to any option contract or
other sales contract, or to any leases or other occupancy agreements created by Seller other than the Leases. 
 E. Seller has
no knowledge of, and has received no notice from, any governmental authority requiring any work, repairs, construction, alterations or installations on or in connection with the Property, or asserting any violation of any federal, state, county or
municipal laws, ordinances, codes, orders, regulations or requirements affecting any portion of the Property, including, without limitation, any applicable environmental laws or regulations. 

  
 6 

 
There is no action, suit or proceeding pending or, to the knowledge of Seller, threatened against or affecting Seller or the Property or any portion thereof or relating to or arising out of the
ownership of the Property, in any court or before or by any federal, state, county or municipal department, commission, board, bureau or agency or other governmental instrumentality. The Seller is not a debtor in any bankruptcy or other insolvency
proceeding. 
 F. The Seller has not received from any governmental authority any written notice of, and the Seller presently
has no knowledge of, pending or contemplated condemnation proceedings affecting the Property. 
 G. At or before the Closing,
Seller shall duly terminate any management or leasing contract or fee arrangement between Seller and any other party for or in connection with the Real Property, all payments due thereunder will be paid in full by Seller at or prior to Closing, and
Seller shall hold Purchaser harmless from any claims thereunder, unless Purchaser, at its sole option, assumes any such agreement in writing. 
 H. Seller has not received any notice from any insurance company or any board of fire underwriters (or other body exercising similar functions) claiming any defects or deficiencies with respect to, or
requesting the performance of any repairs, alterations or other work to, the Property. 
 I. To Seller’s knowledge without
investigation, except as may be set forth in any environmental assessment to be delivered to Purchaser pursuant to Section 3 of this Agreement or as otherwise disclosed to Purchaser within five (5) days after the Effective Date,
(i) the Real Property described in Exhibit “A” is not in violation of any applicable environmental law, including without limitation the Resource Conservation and Recovery Act of 1976, as amended (42 U.S.C. Section 6901 et
seq.) and the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended (42 U.S.C. Section 9601 et seq.); (ii) no underground storage tanks, asbestos (either commercially processed or excavated raw
materials), electrical transformers, fluorescent light fixtures with ballast, or other items or equipment containing polychlorinated biphenyls (“PCBs”), or other material regulated by any applicable environmental law (“Hazardous
Materials”) are present on the Real Property described in Exhibit “A” in violation of any applicable environmental law; and (iii) Seller has not received any information from neighboring property owners indicating they
have any concerns about existing environmental conditions which could affect the Property or suggesting they might look to Seller for contribution to clean up or remediate such condition. In the event Purchaser shall discover such Hazardous
Materials, toxic substances, tanks or other unsatisfactory (in Purchaser’s sole discretion) environmental conditions on the Property at any time prior to Closing, as Purchaser’s sole remedy, Purchaser shall have the right to terminate this
Agreement upon written notice thereof to Seller, whereupon Escrow Agent shall return the Deposit to Purchaser together with all interest thereon. Notwithstanding anything to the contrary herein, the effect of the representations made in this
subsection shall be deemed to be modified to the extent of any information to the contrary obtained by any inspections, tests or investigations made by Purchaser or any of its agents, consultants, contractors, subcontractors, or any of its or their
respective agents, employees or representatives agents, employees and representatives prior to the end of the Review Period. 

  
 7 

 J. To Seller’s knowledge, no assessments or charges for any public improvements have
been made against the Property which remain unpaid and no improvements to the Property or any roads or facilities abutting the Property have been made or ordered for which a lien, assessment or charge can be filed or made. 

K. The rent roll on Exhibit “B” lists (i) all Leases in effect on the Effective Date, and (ii) guaranties with
respect to the Leases in effect on the Effective Date (the “Guaranties”). To Seller’s knowledge, each of the Leases and Guaranties is valid and subsisting and in full force and effect, has not been further amended, modified or
supplemented except as otherwise indicated on Exhibit “B”, the tenant thereunder is in actual possession in the normal course, the tenant is not in material default thereunder, no tenant under any Lease has asserted any claim of
which Seller has notice which would in any way affect the collection of rent from such tenant, and no written notice of default or breach on the part of the landlord under any of the Leases has been received by Seller or its agents from the tenant
thereunder. 
 L. The rents set forth in Exhibit “B” are the actual rents, income and charges presently being
collected by Seller. To Seller’s knowledge, no tenant under any of the Leases is entitled to any concessions, allowances, rebates or refunds or has prepaid any rents or other charges for more than the current month except as may be authorized
by the express terms of the applicable Leases. None of the Leases and none of the rents or other amounts payable thereunder have been assigned, pledged or encumbered except in connection with any loan to be fully satisfied prior to, or at, Closing.
No security deposits have been paid by any tenants which have not heretofore been returned, except as set forth in Exhibit “B” hereto, if any. 
 M. Following Closing, no brokerage or leasing commissions or other compensation is or will be due or payable to any person, firm, corporation or other entity with respect to or on account of any of the
Leases or any extensions or renewals thereof. 
 N. If, after Seller’s execution hereof, any event occurs or condition
exists which renders any of the representations contained herein materially untrue or misleading, Seller shall promptly notify Purchaser in writing. 
 O. All documents provided to Purchaser, including without limitation the items provided pursuant to Section 3(A)(2), are the complete originals or, if not originals, are true, accurate, and complete
copies thereof. 
 P. The copies of the loan documents to be delivered in the future by Seller to Purchaser pursuant to this
Agreement will constitute complete copies of all loan documents executed by Seller in connection with the Mortgage (as hereinafter defined). 
 6. Purchaser’s Representations and Warranties. Purchaser represents and warrants to Seller as follows: 
 A. This Agreement is validly executed and delivered by Purchaser and the performance by Purchaser hereunder does not violate (i) any agreement or contract to which Purchaser is a party or
(ii) any judgment, order, injunction, decree, regulation or ruling of any court or other governmental authority to which Purchaser is subject. 
 B. The execution of this Agreement by Purchaser has been properly authorized and is the binding obligation of Purchaser. 

  
 8 

 7. Seller’s Covenants. Seller covenants and agrees as follows: 

A. Seller will not (i) mortgage, pledge or subject the Property or any part thereof to an unbonded lien or other encumbrance, except
for that certain Mortgage and related liens and assignments in favor of Bank of America, (“Mortgagee”) in the original amount of Four Million Two Hundred and Fifty Thousand ($4,250,000.00), having a balance as of February 28, 2013, of
$4,231,428.96 (the “Mortgage”), which shall be assumed by Purchaser at Closing if such assumption is approved by Mortgagee, (ii) permit any mechanic’s or materialmen’s lien to attach against the Real Property,
(iii) execute or cause or permit to be placed of record any document affecting title to any portion of the Real Property, and (iv) enter into, or subject any portion of the Property to, any option contract, sales contract, or any other
agreement, pursuant to which any party shall have any right to purchase any portion of the Property and (v) enter into any lease, assignment, amendment, modification, supplement or renewal of any of the Leases, without first receiving
Purchaser’s prior written approval, which approval shall not be unreasonably withheld. 
 B. Seller will not sell or
otherwise dispose of or remove any fixtures, mechanical equipment or any other item included within the Property. 
 C. Seller
will not do any act which will materially adversely affect the warranties, guarantees, bonds and other items delivered to Purchaser as specified in Section 1D, without the prior written consent of Purchaser. 

D. Seller will comply with each and every material undertaking, covenant and obligation of the landlord under the Leases. 

E. Seller shall maintain or cause to be maintained the Property (including all plumbing, heating, ventilating, air conditioning and other
mechanical and electrical systems contained in the Improvements, but excluding all portions of the Real Property that are beyond the boundaries thereof described on Exhibit “A”) in its current order and repair, reasonable wear and
tear and damage by fire or other casualty excepted. 
 F. Seller will pay or cause to be paid all debts, taxes, fees,
assessments, commissions, and other obligations for which it is responsible related to the use and ownership of the Property up to the date of Closing, except for those items for which proration is agreed upon in accordance with the provisions of
Section 10 hereof, including, but not limited to: all real estate, personal property and other taxes of every kind; all charges for consumption of utilities; and all commissions or broker’s fees. 

  
 9 

 G. Between the date of this Agreement and the Closing Date, Seller agrees that it will:
(i) manage and operate the Property only in the ordinary and usual manner, maintain in full force and effect until the Closing Date its current insurance policies; (ii) deliver the Property, subject to the Permitted Exceptions, on the
Closing Date in substantially the same condition it is in on the date of this Agreement, reasonable wear and tear and damage by fire or other casualty excepted; (iii) give prompt written notice to Purchaser, by overnight delivery from a
recognized national carrier and facsimile, of any fire or other casualty affecting the Property after the date of this Agreement; (iv) deliver to Purchaser, promptly after receipt by Seller, copies of all notices of violation issued by
governmental authorities with respect to the Property received by Seller after the date of this Agreement. 
 H. Seller shall
maintain such reserves following Closing that Seller, in its good faith judgment, deems to be necessary in order to satisfy its obligations, representations, covenants and warranties which by their nature or as otherwise noted herein survive
Closing. 
 I. Seller (i) shall use commercially reasonable efforts (it being understood that Seller need not take any
enforcement actions against any tenants in connection therewith) to deliver to Purchaser at the Closing, duly executed originals of estoppel certificates (the “Estoppel Certificates”) from each tenant under the Leases and each guarantor of
each Lease, if any, substantially in the form attached hereto as Exhibit “D”, each dated not earlier than ninety (90) days prior to the Closing. If, as of the time otherwise provided for the Closing, Estoppel Certificates for
at least eighty percent (80%) of the tenant space within the Property shall not have been delivered to Purchaser in the foregoing form and not reflecting any material defaults by Seller or the tenant thereunder, then Purchaser may terminate
this Agreement and receive back the Deposit, in which event neither party shall have any further liability under this Agreement other than with respect to liabilities and obligations stated in this Agreement to survive termination, and
(ii) shall request duly executed originals of estoppel certificates, each dated not earlier than ninety (90) days prior to the Closing, from all parties subject to any Reciprocal Easement Agreement, if any, in the form (“REA
Estoppel”) by which the parties to the REA shall certify that the REA is in full force and effect, has not been assigned, modified or amended in any way other than as set forth in a recorded document, and to the knowledge of the party giving
the estoppel, the other party is not in material default under the applicable instrument and all amounts, if any owing under the applicable agreement have been paid in full. If all of the REA Estoppels have not been delivered to Purchaser in the
required form within the aforesaid time period, Purchaser may elect to terminate this Agreement, and have the Deposit refunded to Purchaser. 
 J. Seller shall use commercially reasonable efforts to assist the Purchaser to obtain the consent of Mortgagee to Purchaser’s assumption of the Mortgage, and the Mortgagee Estoppel Certificate,
provided that Seller shall not have any obligation to incur any expense or assume any obligation or liability, contingent or otherwise, in connection therewith (other than the payment of the one percent (1%) assumption fee referred to in
Section 10.D. of this Agreement). 
 K. Prior to the Closing, Seller shall perform all of Seller’s obligations under
the Mortgage and shall not (a) commit or allow any act or omission, directly or indirectly, which would then or with the passage of time create a default under the documents evidencing or securing the Mortgage (the “Mortgage
Documents”), (b) amend or modify the Mortgage Documents, or (c) prepay, in whole or in part, the Mortgage. 

  
 10 

 8. Conditions. 

A. In addition to Purchaser’s absolute right to terminate this Agreement for any reason at any time during the Review Period, the
obligation of Purchaser under this Agreement to purchase the Property from Seller is subject to the satisfaction of each of the following conditions on or prior to the Closing Date, any of which conditions may be waived in whole or in part by
Purchaser by written waiver at or prior to the Closing Date: 
 1. Title to the Real Property shall be good and marketable as
required herein, free and clear of all liens, encumbrances and exceptions other than the Permitted Exceptions and the Escrow Agent shall be prepared to issue an owner’s title insurance policy pursuant to the Title Commitment insuring the title
to the Real Property, subject only to the Permitted Exceptions, in the amount of the Purchase Price or such lesser amount as Purchaser, in its sole discretion, shall determine and with such endorsements which the Escrow Agent, prior to the end of
the Review Period, shall have committed to issue upon payment of the appropriate premium therefor and no material change thereto shall have occurred prior to Closing. Seller shall discharge all liens against the Property at Closing other than the
Mortgage which is to be assumed by Purchaser and other Permitted Exceptions. 
 2. Seller shall have performed, observed and
complied with all material covenants, agreements and conditions required by this Agreement to be performed by, observed and complied with on its part either on or prior to the Closing Date. 

3. All of Seller’s representations and warranties contained herein shall be true and correct in all material respects as of the
Closing Date, and Seller will deliver to Purchaser at Closing a certificate to that effect (or disclosing any representations or warranties which are no longer true and accurate); provided that it shall be a condition to Purchaser’s obligation
to proceed to the Closing that there shall not be any material change in such representations or warranties set forth in such certificate. 
 4. The physical condition of the Property and the title for the Property shall not have materially changed since the conclusion of the Review Period. 

5. All tenants of the Leases shall be occupying the Property, and none of them shall be in default in the payment of rent or performance
of any other material obligation. 
 6. Purchaser shall have received upon terms to its reasonable satisfaction: (a) the
consent of the Mortgagee for the assumption of the Mortgage by the Purchaser upon substantially the current terms and conditions thereof (it being understood that unless Purchaser shall have terminated this Agreement during the Review Period,
Purchaser shall be deemed to have approved the current terms of the Mortgage and related 

  
 11 

 
documents, and (b) a statement from the Mortgagee to the effect that, without investigation, the Mortgagee is not actually aware of any defaults with respect to the Mortgage (it being
understood that the sole effect of the inaccuracy of any such statement shall be the inability of the Mortgagee to assert any such known default against Mortgagee based on events occurring prior to the Closing) (the “Mortgagee Estoppel”).
If Purchaser shall not have received the foregoing items, then this Agreement shall be considered terminated, the Deposit shall be returned to Purchaser, and neither Purchaser nor Seller shall have any further liability under this Agreement, except
as to matters that specifically survive such termination. 
 In the event any of the foregoing conditions to the Closing are not
satisfied or waived in writing by Purchaser as of the Closing Date, then, Purchaser may either (i) extend the date for Closing until such conditions are satisfied (but only if (A) the unfulfilled conditions shall have occurred by reason of
a default by Seller hereunder that can reasonably be cured within thirty (30) days, and (B) such extended period for the Closing shall not exceed such thirty (30)-day period, and if such condition shall not be fulfilled as of the end of
such thirty (30)-day period, then Purchaser may terminate this Agreement; (ii) terminate this Agreement and have the Deposit refunded to Purchaser together with accrued interest (provided, however, that termination and refund of the Deposit
shall not be Purchaser’s exclusive remedy to the extent other remedies are permitted by this Agreement) or (iii) waive in writing the satisfaction of any such conditions, in which event this Agreement shall be read as if such conditions no
longer existed; provided, however, that if such failure of condition also constitutes or is accompanied by a default by Seller hereunder, Purchaser shall have all applicable rights and remedies as set forth in Section 13 hereof, and the
indemnity contained in Section 3A hereof shall survive Closing. Notwithstanding that certain of Seller’s representations and warranties may be limited to the extent of actual knowledge of the facts stated therein, it shall be a condition
precedent to Purchaser’s obligation to go to Closing that the facts stated in all such representations and warranties shall be correct in all material respects as of the time of Closing. 

If the Mortgagee does not approve in writing the assumption of the Mortgage by the Purchaser on or before two hundred ten (210 days after
the Effective Date, and if Purchaser is not in default under this Agreement, then either Seller or Purchaser may terminate this Agreement and the Deposit shall be returned to Purchaser and neither party shall have any further liability hereunder,
except as to Section 3 hereof. 
 B. The obligations of Seller under this Agreement to sell the Property to Purchaser are
subject to the satisfaction of each of the following conditions, any of which conditions may be waived in whole or in part by Seller by written waiver at or prior to the Closing Date: 

1. Purchaser shall have performed, observed and complied with all material covenants, agreements and conditions required by this
Agreement to be performed by, observed and complied with on its part either on or prior to the Closing Date. 
 2. All of
Purchaser’s representations and warranties contained herein shall be true and correct in all material respects. 

  
 12 

 3. Purchaser shall have assumed the Mortgage with the Consent of the Mortgagee and Seller
and its affiliates shall have been released with respect to all obligations under the Mortgage and any related guaranties, indemnities and other undertakings related to the Loan. 

C. It shall also be a condition to the respective obligations of Seller and Purchaser to proceed to the Closing that, simultaneously with
the Closing, the closing under that certain Purchase and Sale Agreement (the “Related Agreement”), of even date herewith, between ECHO Dillsburg, L.P. and Warren Commons Associates, LLC, it being understood (a) that Purchaser shall
not be entitled to rely on this condition if Warren Commons Associates, LLC shall be in material default under the Related Agreement, and (b) that Seller shall not be entitled to rely on this condition if ECHO Dillsburg, L.P. shall be in
material default under the Related Agreement. 
 If the Closing shall not have occurred on or before the Closing Date other than
solely by reason of Seller’s default hereunder, then, Seller may either (i) extend the date for Closing until such conditions are satisfied (but only if (A) the unfulfilled conditions shall have occurred by reason of a default by
Purchaser hereunder that can reasonably be cured within thirty (30) days and (B) such extended period for the Closing shall not exceed such thirty (30)-day period, and if such condition shall not be fulfilled as of the end of such thirty
(30)-day period, then Seller may terminate this Agreement by notice to Purchaser prior to the end of such thirty (30)-day period and have the Deposit refunded to Purchaser together with accrued interest), or (ii) terminate this Agreement with
the Deposit together with accrued interest refunded to Purchaser if Purchaser shall not then be in default under this Agreement (provided, however, that termination shall not be Seller’s exclusive remedy to the extent other remedies are
permitted by this Agreement) or (iii) waive in writing the satisfaction of any such conditions, in which event this Agreement shall be read as if such conditions no longer existed; provided, however that, if such failure of condition also
constitutes or is accompanied by a default by Purchaser hereunder, Seller shall have all applicable rights and remedies as set forth in Section 14 hereof, and the indemnity contained in Section 3A hereof shall survive Closing.
Notwithstanding that certain of Purchaser’s representations and warranties may be limited to the extent of actual knowledge of the facts stated therein, it shall be a condition precedent to Seller’s obligation to go to Closing that the
facts stated in all such representations and warranties shall be correct in all material respects as of the time of Closing. 

9. Closing. 
 A. Unless this Agreement is terminated by Purchaser or Seller as herein provided, the closing hereunder (“Closing”) shall be conducted in escrow by the Escrow Agent on or before that date which
is two hundred ten (210) days after the Effective Date or such later date to which the date for Closing may have been extended as herein provided (the “Closing Date”). 

  
 13 

 B. At Closing, in addition to any other documents required to be delivered under the terms
of this Agreement, Seller shall deliver or cause to be delivered to Purchaser the following, copies of which forms, if available in the case of third party documents, shall be delivered to Purchaser five (5) days prior to Closing: 

1. A special warranty deed, duly executed and acknowledged by Seller and in proper form for recordation, fee simple title to the Real
Property subject only to the Permitted Exceptions. If requested by Purchaser, the deed shall also describe the Real Property by reference to the physical survey obtained by Purchaser. 

2. A valid bill of sale or assignment of lease, as the case may be, of all of the Additional Property, duly executed and acknowledged by
Seller. 
 3. The originals of the Leases, together with a valid assignment (the “Assignment of Leases”), duly
executed and assigning to Purchaser all of Seller’s right, title and interest, as landlord, in and to the Leases, free and clear of all assignments, pledges or hypothecations thereof by the landlord thereunder, which Assignment of Leases shall
include Seller’s indemnity for a period of one (1) year from Closing for all matters arising or asserted under the Leases due to events or occurrences arising or before the Closing (specifically excluding any matter relating to the
physical condition of the Property) and Purchaser’s indemnity for all matters arising or asserted under the Leases due to events or occurrences arising after Closing. 
 4. Notice to the tenants under the Leases in a customary form approved by Purchaser and in conformity with the requirements of the Leases, duly executed and acknowledged by Seller, advising the tenants of
the sale of the Property to Purchaser and directing that rent and other payments thereafter be sent to Purchaser (or its agent) at the address provided by Purchaser. 
 5. A valid assignment, duly executed and acknowledged by Seller, assigning to Purchaser all of Seller’s interest in and to the Intangible Property. 

6. To the extent they are in Seller’s possession or control, originals of all certificates of occupancy, licenses, permits,
authorizations and approvals required by law and issued by all governmental authorities having jurisdiction over the Real Property and copies of all certificates issued by the local board of fire underwriters (or other body exercising similar
functions). 
 7. To the extent they are in Seller’s possession or control, a complete set of the final working drawings,
engineering plans, utilities lay-out plans, topographical plans, all tenant improvement plans and the like used in the construction of the Improvements. 
 8. Such affidavits (limited to factual matters known to Seller except in the case of statements needed for mechanic’s lien coverage) as the Escrow Agent shall reasonably require in order to
issue policies of title insurance free of any exceptions for unfiled mechanics, materialmen’s or similar liens and parties in possession (other than the tenants under the Leases and the rights of other parties under the Permitted Exceptions).

  
 14 

 9. A certificate of non-foreign status as required by Section 1445 of the Internal
Revenue Code. 
 10. All keys, codes, or other security devices in Seller’s possession or control used in connection with
the operation of the Property. 
 11. Seller’s certificate pursuant to Section 8A.3 with respect to its
representations and warranties. 
 12. An indemnity by Seller in favor of Purchaser for all liabilities, losses , costs and
expenses that Purchaser may incur by reason of any tortious act or omission by Seller occurring prior to the Closing; provided that the foregoing shall be limited by the other provisions of this Agreement, including without limitation Section 3
and other provisions of this Agreement relating to survival. 
 13. If in connection with Purchaser’s assumption of the
Mortgage, Purchaser will become liable for, or bound by any default under the Mortgage arising out of any occurrence which takes place prior to the Closing, Seller shall execute and deliver to Purchaser an agreement pursuant to which Seller
indemnifies and holds Purchaser harmless for a period of one year from Closing, from and against any claims, liabilities, loss or damages suffered or incurred by Purchaser as a result thereof, including attorneys’ fees and other cost incurred
in defending any such claim. 
 C. At Closing, in addition to any other documents required to be delivered under the terms of
this Agreement, Purchaser shall (i) execute and deliver (a) the Assignment of Leases, (b) the coal notice and certificate of residence in the deed, (c) an approved settlement statement; and (ii) deliver or cause to be
delivered (a) all documents reasonably required by the Escrow Agent and (b) cash, wire transfer or other immediately available funds payable to Seller in the amount of the funds at Closing, as specified in Subsections 2A (as held by Escrow
Agent) and 2B. 
 10. Adjustments. 
 The following shall be adjusted between Seller and Purchaser and shall be prorated on a per diem basis as of the Closing Date, except as noted below: 

A. All rents and other payments and obligations pursuant to the Leases. All monies received after Closing from a tenant in arrears at
Closing shall be first applied to current rent, then to arrearages and any other amounts owing to Seller. Purchaser shall be under no obligation to collect any arrearages owing to Seller. Seller covenants that it shall not attempt to enforce any
action to collect any arrearage from any Tenant after Closing. 
 B. Real estate taxes (on the basis of the actual fiscal years
for which such taxes are assessed), personal property taxes, and assessments on the Property shall be apportioned pro rata between Seller and Purchaser, with Seller responsible for the same to and including the day prior to the Closing Date and
Purchaser responsible for the same from and 

  
 15 

 
after the Closing Date. Purchaser shall receive a credit in an amount equal to any taxes and assessments unpaid as of the Closing Date and for which Seller is responsible hereunder. Seller shall
receive a credit in an amount equal to any taxes and assessments which have been paid by Seller applicable to periods on or after the Closing Date. 
 C. Seller shall pay to Purchaser at Closing, by credit against the Purchase Price, all security deposits paid by tenants under the Leases, including any and all interest accrued thereon, not applied as
permitted by the applicable Lease. Purchaser shall pay to Seller at Closing the amount of any reserve accounts for the payment of real estate taxes, tenant improvement costs, real estate commissions and the like held or controlled by Mortgagee.

 D. Seller shall pay the cost of deed preparation and the 1% loan assumption fee. Seller and Purchaser shall each pay one half
the amount of all transfer and recording taxes on the deed conveying the Real Property and any escrow fees charged by Escrow Agent to act as settlement agent. Purchaser shall pay all charges of the Escrow Agent, including any abstracting costs, for
issuance of the title commitment and owner’s title policy to Purchaser, the cost of the Survey, the cost of any endorsement to the policy of title insurance. 
 E. All utilities, operating expenses and other apportionable income and expenses paid or payable by Seller, including without limitation, Common Area Maintenance charges due under the Leases (collectively
“CAM Charges”), shall be apportioned pro rata on a per diem basis as of 12:01 A.M. on the date of Closing. Seller shall use its best efforts to cause any and all public utilities serving the Property to issue final bills to Seller on the
basis of readings made as of Closing and all such bills shall be paid by Seller. At Closing, Purchaser and Seller shall perform a final reconciliation of the CAM Charges due under the Leases for the calendar year up to the date of Closing (the
“Short Year”) as follows: (i) Purchaser shall pay to Seller the amount by which the CAM Charges and taxes actually paid by Seller during such Short Year exceed that portion of funds Seller collected from tenants for CAM Charges and
taxes (which are not otherwise paid directly by such tenants) during the Short Year, or (ii) Seller shall pay to Purchaser the amount by which that portion of funds Seller collected from tenants for CAM Charges and taxes (which are not
otherwise paid directly by such tenants) during the Short Year exceeds the CAM Charges and taxes actually paid by Seller during such Short Year. Seller shall provide all relevant information regarding such interim reconciliation of the CAM Charges
to Purchaser at least ten (10) business days prior to Closing. 
 F. Purchaser shall be entitled to a credit against the
Purchaser Price in an amount equal to all unpaid interest and other charges on the Existing Mortgage accrued through and including the day immediately preceding the date of Closing. 

G. With the exception of any adjustments to be made following the Closing Date, (a) if a net amount is owed by Seller to Purchaser
pursuant to this Section 10, such amount shall be credited against the Purchase Price, and (b) if a net amount is owed by Purchaser to Seller pursuant to this Section 10, such amount shall be paid to Seller without an increase in the
Purchase Price. 

  
 16 

 11. Possession. Possession of the Property shall be delivered as of the Closing Date,
subject only to the Leases and other Permitted Exceptions. 
 12. Condemnation. In the event that any eminent domain
proceeding (including a temporary taking) affecting the Real Property or any part thereof or affecting any of the rights of the tenants under the Leases is commenced or threatened by a governmental body having the power of eminent domain (a
“Condemnation”), Seller shall immediately give Purchaser written notice thereof, and in the event, in Purchaser’s sole discretion, such Condemnation has no material adverse effect on the Property, Purchaser shall receive the award
resulting from the Condemnation, (or if not then received, the right to the same shall be assigned to Purchaser), and this transaction shall be closed in the same manner as if no such Condemnation or other taking shall have occurred. However, if any
such Condemnation has, or will have, in Purchaser’s sole discretion, a material adverse effect on the Property, Purchaser may terminate this Agreement, in which event the Escrow Agent shall immediately forward the Deposit to Purchaser, and
neither party shall have any further liability or obligations to the other hereunder; provided, however, that the indemnity contained in Subsection 3A hereof shall survive. 
 13. Seller’s Default. In the event Seller shall be in breach or violation of, or shall fail or refuse to perform its obligations under this Agreement, then Purchaser, as Purchaser’s sole
remedy for such default, shall be entitled to seek either (a) an action for specific performance of this Agreement with no right to damages, or (b) the return of the Deposit and reimbursement of the reasonable costs incurred by Purchaser
in reliance upon this Agreement but not exceeding a sum equal to the amount of the Deposit and with no right to any other damages. 
 14. Purchaser’s Default; Liquidated Damages. In the event Purchaser shall be in breach or violation of, or shall fail or refuse to perform its obligations under this Agreement, the Deposit
shall be immediately forwarded by Escrow Agent to Seller on demand, which is hereby agreed to be adequate liquidated damages for Purchaser’s default hereunder, and Seller shall have no other rights or remedies, provided that the foregoing shall
not limit any damages or other remedies of Seller in the case of a default by Purchaser under any of the provisions of Section 3 of this Agreement. The parties acknowledge that the Deposit represents a reasonable effort to ascertain the damages
to Seller in the event of such a Purchaser default, which damages are difficult or impossible to quantify. Notwithstanding any provision of this Agreement to the contrary, Escrow Agent’s duties and responsibilities are set forth in the Escrow
Agreement. 
 15. Broker’s Commission. Seller shall be solely responsible for, and shall pay in cash at Closing, and
only if Closing shall occur, a real estate commission to Dietz Commercial (the “Broker”) but only pursuant to the terms of any separate written agreement to which Seller is a party. Seller represents and warrants to Purchaser, and
Purchaser represents and warrants to Seller, that, except as provided in the preceding sentence, no commissions are due and owing any real estate broker or salesperson (other than the Broker) in connection with this transaction arising out of its
actions. Seller and Purchaser hereby each agree to indemnify, defend and hold the other harmless from and against any claim for any real estate commission or similar fee arising out of its actions concerning the purchase and sale of the Property as
contemplated by this Agreement. Seller acknowledges that Purchaser has disclosed that certain of its principals are licensed real estate agents in the Commonwealth of Virginia. 

  
 17 

 16. Insurance; Risk of Loss. At all times until the Closing has been consummated,
Seller shall maintain in full force and effect casualty and liability insurance on or with respect to the Property, it being understood and agreed that all risk of loss with respect to the Property shall remain with Seller through Closing. In the
event that prior to the Closing Date, the Improvements on the Property are damaged, destroyed, or rendered unusable, in whole or in part, by fire, Condemnation, or other cause (“Casualty”), then the Purchaser may terminate this Agreement
by notice to the Seller within ten (10) days of Purchaser’s receipt of Seller’s notice of such damage or proceeding, in which case the Deposit shall be refunded to Purchaser, and thereafter neither party shall have any further
obligation or liability to the other by virtue of this Agreement, except as otherwise expressly provided herein. 
 17.
Survival of Covenants. All covenants, representations and warranties made by Seller and Purchaser herein or in any other documents or instruments delivered pursuant hereto or in connection herewith shall survive the Closing for a period of
three (3) years after Closing, but only as to those specific matters reasonably detailed in appropriate legal proceedings against Seller filed on or before three (3) years after Closing; provided that Seller’s representations and
warranties set forth in Section 5 (I), (K) and (L) of this Agreement shall survive only as to those specific matters reasonably detailed in appropriate legal proceedings against Seller filed on or before one (1) year after the
Closing. Any recovery by reason of a breach of this Section or any other representation or warranty of Seller, whether herein or in any document delivered in connection herewith shall be limited, in the aggregate, to an amount equal to the Purchase
Price. 
 18. Assignment. Purchaser’s rights under this Agreement shall be assignable by Purchaser, without further
consent of Seller, to an entity affiliated with or controlled by Purchaser or any of Purchaser’s principals. In any such event, Purchaser shall be solely responsible for, and shall pay at or before the Closing, any additional transfer taxes
payable as a result of any such assignment. 
 19. Notices. All notices, requests or other communications permitted or
required under this Agreement shall be in writing and shall be communicated by personal delivery, by nationally recognized overnight delivery service (such as Federal Express), by certified mail, return receipt requested, or by facsimile
transmission to the parties hereto at the addresses shown below, or at such other address as any of them may designate by notice to each of the others. Notice given by facsimile shall be effective as of the successful transmission of the facsimile
(as evidenced by a successful transmission report generated by the sender’s facsimile equipment), but only if notice is sent the same day by another method permitted by this Section 19. 

 

			
	Seller:	  	ECHO WARREN ASSOCIATES, L.P.
		  	c/o ECHO Real Estate Services Company
		  	Attn: Managing Partner
		  	701 Alpha Drive
		  	Pittsburgh, PA 15238
		  	412.968.1664 telephone
		  	412.967.6141 fax

  
 18 

			
		
	        Copies to:	  	ECHO Real Estate Services Company
		  	Attn: Legal Department
		  	701 Alpha Drive
		  	Pittsburgh, PA 15238
		  	412.968.1664 telephone
		  	412.967.6141 fax
		
		  	Joseph J. Barnes
		  	Barnes Dulac Watkins
		  	Two Gateway Center, 17 East
		  	603 Stanwix Street
		  	Pittsburgh, Pennsylvania 15222
		  	412.434.5856 telephone
		  	412.434.5554 fax
		
	Purchaser:	  	WHLR-Warren Commons, LLC
		  	Attn: Jon S. Wheeler and Rob Seidel
		  	Suite 200
		  	2529 Virginia Beach Boulevard
		  	Virginia Beach, Virginia 23452
		  	757.627.9088 telephone
		  	757.627.9081 fax
		
	        Copy to:	  	Stuart A. Pleasants, attorney at law
		  	Suite 101
		  	2529 Virginia Beach Boulevard
		  	Virginia Beach, Virginia 23452
		  	757.275.7634 telephone
		  	757.627.9081 fax

 20. Escrow. Upon its receipt thereof, Escrow Agent shall deposit the Deposit in a federally
insured interest bearing account, with all accrued interest earned thereon to be added to and deemed a part of the Deposit. Except as otherwise provided in this Agreement, the Deposit shall be delivered by Escrow Agent to Seller on the Closing Date
for application against the Purchase Price; provided, however, if Purchaser shall be entitled to a refund of the Deposit in accordance with the terms of this Agreement, Escrow Agent shall promptly refund the Deposit to Purchaser. Escrow Agent shall
have no liability to any party hereto in acting or refraining from acting hereunder except for willful malfeasance and shall perform such function without compensation. In the event of any dispute between the parties hereto or between Escrow Agent
and Seller or Purchaser, Escrow Agent may deposit the Deposit in a court of competent jurisdiction for the purpose of obtaining a determination of such controversy. Seller and Purchaser agree to execute and deliver an escrow agreement in the form
designated by Escrow Agent in form and content as contained in the Escrow Agreement. 

  
 19 

 21. Like Kind Exchange Under Section 1031 of the Internal Revenue Code. The
parties acknowledge that Seller or Purchaser may wish to enter into a like kind exchange (either simultaneous or deferred) with respect to the Property (the “Exchange”) pursuant to the applicable provisions of Section 1031 of the
Internal Revenue Code of 1986, as amended. Notwithstanding anything to the contrary contained in this Agreement, Seller or Purchaser shall have the right to assign its interest under this Agreement without the other party’s consent for the sole
purpose of enabling the assigning party to effectuate the Exchange, including execution of any necessary acknowledgment documents; provided, however, that notwithstanding any such assignment, the assigning party shall not be released from any of its
liabilities, obligations or indemnities under this Agreement. The other party shall cooperate in all reasonable respects with the assigning party to effectuate such Exchange; provided, however, that: 

A. Closing shall not be extended or delayed by reason of such Exchange; 

B. The non-assigning party shall not be required to incur any additional cost, expense or liability, contingent or otherwise, as a result
of such Exchange, and the assigning party shall forthwith, on demand, reimburse the non-assigning party for any additional cost, expense or liability, including attorney’s fees incurred by the non-assigning party as a result of the Exchange in
reviewing documents; and 
 C. The assigning party’s ability to consummate the Exchange shall not be a condition to the
obligations of assigning party under this Agreement, and the non-assigning party does not warrant and shall not be responsible for any of the tax consequences to assigning party with respect to the transactions contemplated hereunder. 

22. Miscellaneous. 
 A. This Agreement shall be governed by, construed and enforced under the laws of the State of Pennsylvania, without regard to its conflicts of laws provisions. 

B. This Agreement sets forth the entire agreement and understanding between the parties with respect to the transactions contemplated
hereby and supersedes all prior agreements, arrangements and understandings which led to the subject matter hereof. 
 C. All
the terms, covenants, representations, warranties and conditions of this Agreement shall be binding upon, and inure to the benefit of and be enforceable by, the parties hereto and their respective heirs, personal representatives, executors,
successors and permissible assigns. 
 D. Failure of any party at any time or times to require performance of any provisions
hereof shall in no manner affect the right at a later time to enforce the provision. No waiver by either party of any condition, or the breach of any term, covenant, representation or warranty contained in this Agreement, whether by conduct or
otherwise, in any one of more instances, shall be deemed a further or continuing waiver of condition or covenant, representation or warranty contained in this Agreement. 

  
 20 

 E. Any amendment or modification of this Agreement shall be made in writing executed by the
party sought to be charged thereby. 
 F. Wherever used herein, the singular shall include the plural, the plural shall include
the singular and the use of any gender shall include all other genders. If Seller consists of more than one individual or entity, all individuals and entities comprising Seller shall be jointly and severally liable under this Agreement. In this
Agreement, whenever general words or terms are followed by the word “including” (or other forms of the word “include”) and words of particular and specific meaning, shall be deemed to include the words “including without
limitation,” and the general words shall be construed in their widest extent, and shall not be limited to persons or things of the same general kind or class as those specifically mentioned in the words of particular and specific meaning.

 G. The captions and Section headings contained herein are for convenience only and shall not be used in construing or
enforcing any of the provisions of this Agreement. 
 H. This Agreement may be executed, by facsimile or email, in two
(2) or more counterparts, each of which shall be deemed an original hereof, but all of which, together, shall constitute a single agreement. If executed by facsimile, the parties to this Agreement may rely on a facsimile copy as an original.

 I. Time is of the essence with respect to every provision of this Agreement. 

J. If the expiration of any time period measured in days occurs on a Saturday, Sunday or legal holiday, such expiration shall
automatically be extended to the next day which is not a Saturday, Sunday or legal holiday. 
 SIGNATURES FOLLOW: 

  
 21 

			
	WHLR-WARREN COMMONS, LLC
	
	 /s/ Jon S. Wheeler

	By	 	Jon S. Wheeler, its Manager

  

							
	ECHO WARREN ASSOCIATES, L.P., a Delaware limited partnership
	By:	 	ECHO Developers Fund I Managing Partner, L.P., a Delaware limited partnership, its General Partner
		 	By:	 	ECHO Developers, LLC, a Pennsylvania limited liability company, its General Partner
				
		 		 	By:	 	 /s/ Thomas A. Karet

		 		 		 	Thomas A. Karet
		 		 		 	its Managing Partner

  
 22

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