Document:

EX-10.32

 Exhibit 10.32 

SECOND AMENDMENT TO LEASE 

THIS SECOND AMENDMENT TO LEASE (“Second Amendment”), dated as of the 11th day of March, 2019 (the “Effective Date”), is
between CLPF-475 BRANNAN STREET, L.P., a Delaware limited partnership (“Landlord”) and FASTLY, INC., a Delaware corporation (“Tenant”). 

R E C I T A L S 
 A.
Landlord and Tenant entered into that certain Office Lease dated August 22, 2014 (the “Original Lease”), and that certain First Amendment to Lease dated May 27, 2015 (the “First Amendment”), pursuant to which Landlord
leased unto Tenant and Tenant leased from Landlord what was previously measured as approximately 65,180 rentable square feet of office space described as Suites 200, 300, 320 and 330 (collectively, the “Premises”) located on the second and
third floors of the building commonly known as 475 Brannan Street, San Francisco, California (the “Building”). The Original Lease and the First Amendment are collectively referred to herein as the “Lease”. 

B. The Term of the Lease is to expire March 31, 2020. Tenant desires to extend the Term for an additional eighty-eight
(88) months. Landlord agrees to extend the Term upon the terms and conditions outlined in this Second Amendment. 
 A G R E E M E N T

 NOW, THEREFORE, for and in consideration of the facts mentioned above, the mutual promises set forth below and other good and
valuable consideration, the sufficiency and receipt of which is hereby acknowledged, the parties hereto do agree as follows: 
 1.
Effective Date. This Second Amendment shall be effective as of the Effective Date. 
 2. Capitalized Terms. All
capitalized terms used in this Second Amendment which are not defined herein shall have the meanings for such terms which are set forth in the Lease. 

3. Premises. 
 A. Remeasurement.
Landlord and Tenant acknowledge and agree that Landlord has remeasured the Building and that, according to such remeasurement, effective as of April 1, 2020 (the “Extension Date”) and continuing through the Extended Term (defined
below in Section 4), (i) the deck area (the “Deck Area”) adjacent to Suites 300 and 330 containing approximately 4,911 rentable square feet is added to the total rentable area of the Premises; (ii) the total rentable area of the
Premises is 71,343 square feet; and (iii) the rentable area of the Building is 247,742 square feet. Effective as of the Extension Date, the rentable area of the Premises and Building shall be accordingly adjusted to reflect such remeasurement.

  

			
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 B. Deck Area. Landlord agrees that as of the Effective Date, the Deck Area
shall become part of the Premises, Tenant shall have exclusive use of the Deck Area, and that Tenant shall be permitted to use the Deck Area for the uses permitted under the Lease, including, without limitation, general office purposes, and to
perform improvements to the Deck Area in accordance with the terms and conditions of Paragraph 8 of the Original Lease. Notwithstanding the foregoing, nothing herein shall modify Landlord’s obligation to repair and maintain the structural
elements of the Deck Area, including the floor thereof, in accordance with the terms of the Lease through the Extended Term, but shall not have any obligation to repair or maintain any flooring or floor covering of the Deck Area. 

4. Term. As of the Effective Date, the Term of the Lease shall be extended through 11:59 p.m. on July 31, 2027
(“Extended Expiration Date”), unless sooner terminated pursuant to the terms of the Lease. That portion of the Term commencing on the Extension Date and ending on the Extended Expiration Date shall be referred to herein as the
“Extended Term”. Landlord and Tenant hereby agree to confirm the dates of the Extended Term by executing and delivering to each other counterparts of a Commencement Date Memorandum in the form of Exhibit
D-1 attached hereto, but the Extended Term of the Lease shall commence on the Extension Date and end on the Extended Expiration Date whether or not such memorandum is executed. 

5. Basic Monthly Rental. During the Extended Term, Tenant shall pay to Landlord as Basic Monthly Rental for the Premises, without
prior notice or demand, the amounts set forth in the following schedule: 
  

															
	 Period
	 	 	Basic Monthly
Rental	 	 	Monthly
Abatement	 	 	Net Basic
Monthly Rental	 
	 	4/1/20 – 10/15/20	 	 	$	432,279.12	 	 	$	432,279.12	 	 	$	0.00	 
	 	10/16/20 – 3/31/21	 	 	$	432,279.12	 	 	$	0.00	 	 	$	432,279.12	 
	 	4/1/21 – 3/31/22	 	 	$	445,247.49	 	 	$	0.00	 	 	$	445,247.49	 
	 	4/1/22 – 3/31/23	 	 	$	458,604.91	 	 	$	0.00	 	 	$	458,604.91	 
	 	4/1/23 – 3/31/24	 	 	$	472,363.05	 	 	$	0.00	 	 	$	472,363.05	 
	 	4/1/24 – 3/31/25	 	 	$	486,533.94	 	 	$	0.00	 	 	$	486,533.94	 
	 	4/1/25 – 3/31/26	 	 	$	501,129.95	 	 	$	0.00	 	 	$	501,129.95	 
	 	4/1/26 – 3/31/27	 	 	$	516,163.84	 	 	$	0.00	 	 	$	516,163.84	 
	 	4/1/27 – 7/31/27	 	 	$	531,648.75	 	 	$	0.00	 	 	$	531,648.75	 

 6. Tenant’s Percentage Share. As of the Extension Date, notwithstanding anything in the
Lease to the contrary, Tenant’s Percentage Share shall be 26.81% (based upon 66,432 rentable square feet within the interior of the Premises and the Building square footage of 247,742), and Tenant shall no longer be required to pay the Suite
330 Percentage Share as set forth in Section 6 of the First Amendment. 

  

			
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 7. Operating Costs. Landlord and Tenant agree that the Basic Monthly Rental
schedule set forth above for the Extended Term reflects a change in the Lease from a so called “Industrial Gross” lease to a “NNN” lease, where Operating Expenses are in addition to the monthly Basic Monthly Rental. To reflect
this change, as of the Extension Date, the Lease shall be amended as follows: 
 A. Paragraph 1(a) of the Original Lease shall be
deleted in its entirety. 
 B. Paragraph 1(c) of the Original Lease shall be deleted and replaced with the following: 

“(c) The term “Expense Year” shall mean each calendar year in which any portion of the Lease term falls, through
and including the calendar year in which the term expires; provided, however, that Landlord, upon notice to Tenant, may change the Expense Year from time to time to any other twelve (12) consecutive month period.” 

C. Paragraphs 4(a), 4(b) and 4(f) of the Original Lease shall be deleted and replaced with the following: 

“(a) In addition to the Basic Monthly Rental payable during the Term of this Lease, commencing on the Rent Commencement
Date and continuing throughout the remaining Term of this Lease (including the Extension Term, if applicable) Tenant shall pay to Landlord, as additional rent, Tenant’s Percentage Share of: (i) Operating Expenses paid or incurred by
Landlord in any calendar year; and (ii) Real Property Taxes paid or incurred by Landlord in any calendar year. Notwithstanding the foregoing, if the Building is less than one hundred percent (100%) occupied in any Expense Year during the Term,
then Landlord shall make an appropriate adjustment in occupancy-related Operating Expenses for such Expense Year for the purposes of avoiding distortion of the amount of such Operating Expenses to be attributed to Tenant by reason of variation in
total occupancy of the Building, by employing consistent and sound accounting and management principles to determine Operating Expenses that would have been paid or incurred by Landlord had the Building been one hundred percent (100%) occupied. If
it shall not be lawful for Tenant to reimburse Landlord for any Real Property Taxes as defined herein, then the Basic Monthly Rental payable to Landlord shall be increased to net Landlord the same net Basic Monthly Rental after imposition of Real
Property Taxes as would have been received by Landlord prior to the imposition of such Real Property Taxes.” 

“(b) Commencing on the Rent Commencement Date and continuing throughout the remainder of the Lease Term (including the
Extension Term, if applicable), Tenant shall pay to Landlord, as additional rent, one-twelfth (1/12th) of Tenant’s Percentage Share of Operating Expenses and Real Property Taxes for such Expense Year on
or before the first day of each calendar month of such Expense Year, in advance, in an amount estimated in good faith by Landlord in notices delivered to Tenant. If Landlord fails to deliver such an estimate to Tenant prior to the commencement of
any Expense Year, then Tenant shall continue to pay Tenant’s Percentage Share of Operating 

  

			
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Expenses and Real Property Taxes on the basis of the prior Expense Year’s estimate until the first day of the next calendar month after such notice is given, provided that on such date
Tenant shall pay to Landlord the amount of such estimated adjustment payable to Landlord for prior months during the Expense Year in question, less any portion thereof previously paid by Tenant. Landlord may revise its estimate of Tenant’s
Percentage Share of Operating Expenses and Real Property Taxes for any Expense Year from time to time by giving written notice of such revision to Tenant, in which event subsequent payments by Tenant for such Expense Year shall be based on
Landlord’s revised estimate. The failure or delay by Landlord to provide Tenant with Landlord’s estimate of Tenant’s Percentage Share of Operating Expenses and Real Property Taxes or Landlord’s annual statement (as described in
subparagraph 4(c) below) for any Expense Year shall not constitute a default by Landlord hereunder, or a waiver by Landlord of Tenant’s obligation to pay Tenant’s Percentage Share of Operating Expenses or Real Property Taxes for such
Expense Year or of Landlord’s right to send to Tenant such an estimate or annual statement, as the case may be.” 

“(f) It is the intention of Landlord and Tenant that the Basic Monthly Rental paid to Landlord throughout the term of this
Lease shall be absolutely net of all Real Property Taxes and Operating Expenses and the foregoing provisions of this Paragraph 4 are intended to so provide.” 

D. The fourth sentence of Paragraph 8(c) of the Original Lease shall be deleted and replaced with the following: 

“Tenant shall have access to and use of the Building’s condenser water for such facilities subject to payment of charges typically
assessed to other tenants of the Building for the use thereof, provided such charges are not included as Operating Expenses.” 

E. The fourth sentence of Paragraph 18(b)(iv) of the Original Lease shall be deleted and replaced with the following: 

“For the purpose of determining unpaid rent under clauses (i), (ii) and (iii) above, the rent reserved in this Lease shall be deemed
to be the total rent payable by Tenant under Articles 3 and 4 hereof; for purposes of computing Tenant’s Percentage Share of Operating Expenses and Real Property Taxes for the calendar year in which the default occurs and each future calendar
year or portion thereof in the Lease Term, Tenant’s Percentage Share of Operating Expenses and Real Property Taxes shall be assumed to be equal to the amount thereof for the calendar year prior to the year in which the default shall occur,
increased annually at a rate equal to the average rate of increase, if any, in such items from the Commencement Date through the time of award.” 

8. Condition of Premises. Tenant acknowledges and agrees that, subject to the terms and conditions set forth in this Second
Amendment, Landlord has agreed to extend the Term of the Lease on the express condition that Tenant accepts the Premises in their as-is condition and that neither Landlord nor any representative of Landlord
has made any representation or warranty with respect to the condition of the Premises, except as specifically set forth in the Lease, as amended hereby. Notwithstanding the foregoing, Landlord shall, at its sole cost and expense, remove the large
planters located on the Deck Area and replace the planters with privacy screening mutually agreeable to Landlord and Tenant, and which is in compliance with all applicable codes, laws, ordinances, rules and regulations, to provide privacy from the
adjacent building (the “Privacy Screening”). Landlord shall also clean or repair the flooring of the Deck Area in the areas previously occupied by the large planters to the extent necessary to attain an appearance reasonably consistent
with the remainder of the Deck Area flooring. Landlord and Tenant shall use commercially reasonable efforts to determine the means of providing the Privacy Screening within ninety (90) days following the Effective Date. Landlord shall use
commercially reasonable efforts to install the Privacy Screening and remove the planters from the Deck Area within sixty (60) days following the date upon which the Privacy Screening has been determined. Landlord shall provide Tenant with no
less than two (2) business days prior notice before entering the Premises and Deck Area to remove the planters and install the Privacy Screening. Landlord shall use commercially reasonable efforts to minimize interference with Tenant’s use
of or access to the Premises during such entry and removal. 

  

			
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 9. Renewal Improvements. Landlord and Tenant agree to the provisions set forth
in the work letter annexed hereto as Exhibit “C-2” (“Work Letter”). Tenant agrees to construct any Renewal Improvements described in the Work Letter upon and subject to the provisions
thereof. 
 10. Security. Landlord currently holds the sum of $1,102,441.62 as security for Tenant’s faithful performance
of all of the terms, covenants, conditions, and obligations required to be performed by Tenant under the Lease (the “Security Deposit”). The amount of the Security Deposit shall be subject to further reduction commencing on each
anniversary of the Extension Date (each a “Reduction Date”) by the amount of $81,541.84 (the “Reduction Amount”) from the amount then held by Landlord, so long as no Event of Default by Tenant under the Lease then currently
exists beyond any applicable notice and cure periods as of the relevant Reduction Date or the date any excess Security Deposit is to be returned pursuant hereto. Within ten (10) business days following the relevant Reduction Date, Landlord
shall pay to Tenant the Reduction Amount. If such Reduction Amount is not timely paid by Landlord, Tenant shall provide Landlord written notice that the Reduction Amount has not been timey paid. Landlord shall then have ten (10) business days
to either pay the Reduction Amount or to provide Tenant written notice that Landlord disputes that a Reduction Amount payment is due (the “Notice of Dispute”). Landlord and Tenant acknowledge and agree that a Notice of Dispute may only be
delivered to Tenant by Landlord in the event a dispute arises in connection with a default by Tenant beyond the applicable notice and cure periods. If within such ten (10) business day period Landlord fails to either pay the Reduction Amount or
deliver Tenant a Notice of Dispute and if the Landlord is other than CLPF-475 Brannan Street, L.P., Tenant shall have the right to offset that particular Reduction Amount payment amount against any Rental next
due and owing. Notwithstanding anything to the contrary set forth in this Section 10, in no event shall the Security Deposit be less than $531,648.75. 

  

			
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 11. Right of First Notification. During the Extended term, Tenant shall retain
the Right of First Notification with respect to Suite 310 and Suite 410 as set forth in Section 11 of the First Amendment. Tenant acknowledges and agrees that it has waived the Right of First Notification set forth in Section 11 of the
First Amendment with respect to Suite 230. Further, as of the Effective Date, in the event that the electrical room located adjacent to the East side of the Premises, Suites 110/210 (together), Suite 120, Suite 130, or Suite 420 (each, for the
purposes of this Section 11 only, a “Notice Space”) becomes available during the Term of the Lease, as extended hereby, Landlord shall notify Tenant of such available space (the “Available Space”) and the terms and
conditions under which Landlord intends to market the Available Space (the “Availability Notice”). Tenant shall have ten (10) business days following receipt of the Availability Notice to elect in writing to lease such Available Space
on the terms and conditions set forth in the Availability Notice. If Tenant fails to respond to Landlord’s Availability Notice within such ten (10) business day period or if Tenant declines to lease the Available Space, then Tenant shall
be deemed to have waived its Right of First Notification with respect to the applicable Available Space. A Notice Space shall be deemed to be “available” when the lease for any current tenant of a Notice Space expires or is otherwise
terminated. A Notice Space shall not be deemed to be “available” if the space is either (i) assigned or subleased by the current tenant of the space, (ii) relet by the current tenant of the space by renewal, extension, or
renegotiation, or (iii) with respect the electrical room, Suites 110/210 (together), Suite 120, Suite 130, or Suite 420, such Notice Space is subject to a right of another tenant existing as of the Effective Date. 

12. Option to Extend. Tenant shall retain the right to further extend the Term of the Lease pursuant to the Paragraph 2(d) of the
Original Lease, and references to the “initial Term” set forth in Paragraphs 2(d) and 2(e) of the Original Lease are hereby amended to mean the Extended Term. 

13. Brokers. Landlord hereby represents and warrants to Tenant that it has dealt with no broker, finder or similar person in
connection with this Second Amendment other than Colliers International (“Landlord’s Broker”), and Tenant hereby represents and warrants to Landlord that it has dealt with no broker, finder or similar person in connection with this
Second Amendment, other than CBRE, Inc. (“Tenant’s Broker”). Landlord shall pay any and all commissions payable to Landlord’s Broker in connection with the execution of this Second Amendment pursuant to a separate agreement.
Landlord’s Broker shall pay Tenant’s Broker any commissions payable to Tenant’s Broker pursuant to a separate agreement between Landlord’s Broker and Tenant’s Broker. Landlord and Tenant shall each defend, indemnify and hold
the other harmless with respect to all claims, causes of action, liabilities, losses, costs and expenses (including without limitation attorneys’ fees) arising from a breach of the foregoing representation and warranty. 

14. Accessibility Disclosure. Pursuant to California Civil Code 1938, Landlord hereby advises Tenant that the Premises have
not undergone inspection by a Certified Access Specialist and Tenant hereby acknowledges that the Premises have not been certified to meet all construction related accessibility standards pursuant to Civil Code Section 55.53. Pursuant to
California Civil Code 1938(e): “A Certified Access Specialist (CASp) can inspect the subject premises and determine whether the subject premises comply with all of the applicable construction-related accessibility standards under state law.
Although state law does not require a CASp inspection of the subject premises, the commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy or potential
occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any
repairs necessary to correct violations of construction-related accessibility standards within the premises.” The terms of this Section 14 are intended only to comply with notice requirements of applicable laws. The terms and conditions of
the Lease, as amended, shall govern with respect to each of Landlord’s and Tenant’s liability for compliance with applicable laws. 

  

			
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 15. Prohibited Persons and Transactions. Landlord and Tenant (each a
“Representing Party”) represent to the other that neither Representing Party nor any of its subsidiaries or, to the knowledge of the Representing Party, any, affiliate or representative of the Representing Party is an individual or entity
(“Person”) currently the subject of any sanctions administered or enforced by the United States Department of Treasury’s Office of Foreign Assets Control (“OFAC”), or other relevant sanctions authority (collectively,
“Sanctions”), nor is the Representing Party located, organized or resident in a country or territory that is the subject of Sanctions; and the Representing Party represents and covenants that it has not knowingly engaged in, is not now
knowingly engaged in, and shall not engage in, any dealings or transactions with any Person, or in any country or territory, that is the subject of Sanctions. 

16. No Further Modifications. Except as otherwise set forth in this Second Amendment, the terms and conditions of the Lease
remain unchanged and in full force and effect. 
 17. Counterparts. This Second Amendment may be executed in counterparts, each
of which shall be deemed an original, and all of which when executed and delivered shall together constitute one and the same instrument. 

18. Authority. Each party represents that the person executing this Second Amendment for such party is acting on behalf of such
party and is duly authorized to execute this Second Amendment for such party. 
 19. Entire Agreement. This Second Amendment,
together with the Lease, constitute the entire and complete agreement of the parties with respect to the subject matter hereof, and supersedes all prior or contemporaneous agreements, statements, promises, understandings, arrangements, and
commitments. 
 [Signatures on following page.] 

  

			
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 IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment to Lease as of
the date first written above. 
  

																					
	LANDLORD:
	
	 CLPF-475 BRANNAN STREET L.P.,

a Delaware limited partnership

			
	     
 
	 	By:	 	 CLPF - 475 BRANNAN STREET GP, LLC

Its general partner

				
		 		 	By:	 	 Clarion Lion Properties Fund Holdings. L.P.,

Its sole member

					
		 		 		 	By:	 	 CLPF-Holdings, LLC,
 Its general
partner

						
		 		 		 		 	By:	 	 Clarion Lion Properties Fund Holdings REIT, LLC,

Its sole member

							
		 		 		 		 		 	By:	 	 Clarion Lion Properties Fund, LP,

Its managing member

								
		 		 		 		 		 		 	By:	 	 Clarion Partners LPF GP, LLC,

Its general partner

									
		 		 		 		 		 		 		 	By:	 	 Clarion Partners, LLC,
 Its sole
member

										
		 		 		 		 		 		 		 		 	By:	 	 /s/ Jon Gelb

		 		 		 		 		 		 		 		 		 	 Jon Gelb

Authorized Signatory

										
		 		 		 		 		 		 		 		 		 	Date: 3/18/19

  

			
	TENANT:
	
	 FASTLY, INC.,
 a
Delaware corporation

			
		
	By:	 	 /s/ Adriel Lares

	Name:	 	Adriel Lares
	Title:	 	CFO

  

			
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 Exhibit “C-2” 

Work Letter 
 This WORK
LETTER (the “Agreement”) is hereby made a part of that certain Second Amendment to Lease (the “Second Amendment”) made and entered into by and between CLPF-475 BRANNAN STREET, L.P., a Delaware limited partnership
(“Landlord”) and FASTLY, INC., a Delaware corporation (“Tenant”). All terms used herein which are defined in the Lease or any addendum or other Exhibits attached thereto shall have the same meanings herein as are ascribed to such
terms in such documents. Landlord and Tenant hereby agree as follows with respect to the construction of initial improvements in the Premises. 
 1.
COMPLETION AND APPROVAL OF PLANS. 
 1.1 Space Plan. At any time following the Effective Date, Tenant may cause to be
constructed at Tenant’s cost and expense, except as otherwise specified in paragraph 2 below, improvements in the Premises (the “Extension Improvements”) in accordance with a mutually agreed preliminary plan (the “Space
Plan”). Tenant acknowledges that Landlord has made no representation or warranty whatsoever concerning (i) the actual cost to design and construct the Extension Improvements or (ii) the extent to which the actual cost or final
configuration of the Extension Improvements will be affected by the adoption of new federal, state, or local laws or the implementation of any regulations or building requirements under new or existing laws, including, without limitation, the
Americans With Disabilities Act and any fire and life safety laws or regulations. 
 1.2 Final Plans. Upon mutual approval of
the Space Plan, Tenant shall cause to be prepared such plans, drawings, and specifications (collectively, the “Plans”) as may be necessary to obtain a building permit for construction of the Extension Improvements. Upon completion thereof,
the Plans shall be submitted to Landlord for approval. Landlord shall notify Tenant, in writing, within five (5) business days following receipt by Landlord of the Plans if Landlord approves the Plans or disapproves of any portion thereof. Such
disapproval shall be communicated with sufficient specificity to enable Tenant to revise the Plans in a manner acceptable to Landlord. If Landlord objects to any portion of the Plans, Tenant shall cause the same to be revised, and shall resubmit the
revised Plans to Landlord for approval. Landlord shall have two (2) days to approve or disapprove of the revised Plans. The foregoing process shall continue until the Plans are approved by Landlord; provided, however, that each time Landlord
disapproves of any portion of the Plans, Landlord’s subsequent comments shall be limited solely to the revisions to, or any new elements of, the Plans. If Landlord fails to approve or respond to Tenant’s initial request for approval of the
Plans or to Tenants’ revisions to the Plans within the respective five (5) business day or two (2) day periods provided above, then Tenant may, within five (5) business days following the expiration of such five (5) business
day or two (2) day period described above, provide to Landlord a second written request (the “Second Request”) stating in large, bold and capped font the following: “THIS IS TENANT’S SECOND REQUEST TO LANDLORD. LANDLORD
FAILED TO TIMELY APPROVE OR RESPOND TO TENANT’S FIRST REQUEST FOR APPROVAL OF THE PLANS [or TENANT’S REVISIONS TO THE PLANS] IN ACCORDANCE WITH SECTION 1 OF EXHIBIT C-2 OF THE SECOND AMENDMENT TO
LEASE. IF LANDLORD FAILS TO RESPOND TO THIS SECOND REQUEST FOR APPROVAL OF THE PLANS [OR TENANT’S REVISIONS TO THE PLANS] WITHIN FIVE (5) BUSINESS DAYS OF LANDLORD’S RECEIPT OF THIS SECOND REQUEST, TENANT’S PLANS [OR
TENANT’S REVISIONS TO THE PLANS] SHALL BE DEEMED APPROVED BY LANDLORD.” If (a) Tenant’s Second Request strictly complies with the terms of this Section 1.2, and (b) Landlord fails to notify Tenant within five
(5) business days of Landlord’s receipt of such Second Request, then the Plans, or the revisions thereto, as applicable, shall be deemed approved by Landlord. 

  

			
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 1.3 Required Changes. Landlord hereby consents to any changes to the Plans
which may be imposed as a condition of obtaining a permit for the construction of the Extension Improvements by any municipal department having jurisdiction over same, provided that Tenant shall clearly identify such changes on the Plans. 

1.4 Requested Changes. If Tenant desires to make any changes to the final Plans following approval thereof, Tenant must obtain
Landlord’s prior written consent (which consent shall not be unreasonably withheld, conditioned or delayed). All such requests for changes and consent shall be subject to the procedures set forth in paragraph 5 hereof. 

2. COST OF IMPROVEMENTS. 
 2.1
Tenant’s Cost; Extension Allowance. Tenant shall bear all costs of designing and constructing the Extension Improvements, except that Landlord shall provide a construction allowance (the “Extension Allowance”) to be applied to
such costs in an amount equal to Three Million Five Hundred Sixty Seven Thousand One Hundred Fifty and No/100 Dollars ($3,567,150.00) (i.e., $50.00 per rentable square foot of the Premises). The costs of such construction shall include, without
limitation, costs of preparing the Space Plan, pricing plans, and field surveys, costs of preparing the Plans and all working drawings, costs of obtaining building permits, costs of labor and materials used in such construction, Landlord’s
three percent (3%) construction management fee, and all other costs of such design and construction including a conditional use permit (if required) and occupancy permits. No portion of the Extension Allowance may be used for furniture, fixtures,
equipment, Supplemental HVAC Units, Tenant’s Security System or for any non-permanent improvement to the Premises. 

2.2 Costs in Excess of the Extension Allowance. Tenant shall pay all costs of constructing the Extension Improvements to the
extent that the cost thereof exceeds the Extension Allowance. 
 2.3 Payment of Extension Allowance. Landlord shall disburse
the Extension Allowance (after deducting Landlord’s construction management fee and Landlord’s reasonable out of pocket design review costs) in accordance with the following terms and conditions. At any time following the Effective Date,
Tenant shall submit to Landlord written requests for reimbursement for the cost of designing and constructing the Extension Improvements, which requests shall not be made more than once per month (each, an “Extension Allowance Request”).
Each Extension Allowance Request must detail work performed and materials supplied in performing the Extension Improvements, all of which shall be subject to reasonable 

  

			
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substantiation by Landlord, or an architect or other representative retained by Landlord. Except as provided below, payment for such costs shall be made to Tenant within thirty (30) days
after Landlord’s receipt of an Extension Allowance Request and the following supporting materials: receipts evidencing payment of all amounts due and a sworn affidavit or lien waiver, as applicable, from each of Tenant’s designers,
contractors, subcontractors, workers, and suppliers stating that they have been paid in full for all work performed and materials and equipment supplied by them on the Premises for which reimbursement is requested. Landlord shall have no obligation
to honor any Extension Allowance Request received from Tenant which is not material compliance with this Paragraph 2.3. Landlord shall withhold ten percent (10%) from each payment request (the “Retainage”). Landlord shall pay the Retainage
to Tenant within thirty (30) days after Landlord’s receipt of the written request and the following supporting materials (the “Closing Binder”): (i) receipts evidencing payment of all amounts due and a sworn affidavit or lien
waiver from each of Tenant’s designers, contractors, subcontractors, workers, and suppliers stating that they have been paid in full for all work performed and materials and equipment supplied by them on the Premises, (ii) warranties;
(iii) floor plans, construction drawings, and all revisions thereto; (iv) copy of signed off permit/job card and any related inspection records; (v) complete full size set of as-built drawings,
include architectural, mechanical, electrical, plumbing, fire alarm and fire sprinkler; and (vi) air balance report. Tenant shall make all applications to Landlord for payment from the Extension Allowance, including the Retainage, and submit
the completed Closing Binder to Landlord, not later than March 31, 2022. Landlord shall have no obligation to pay any portion of the Extension Allowance if an application therefor in material compliance with this Paragraph 2.3 has not been made
by March 31, 2022. Should the cost to design and construct the Extension Improvements be less than the Extension Allowance, Landlord shall have no obligation to pay or credit to Tenant any portion of such unused Extension Allowance. If Landlord
fails to disburse any portion of the Extension Allowance within (30) days after Landlord’s receipt of an Extension Allowance Request and the supporting materials therefor, Tenant shall provide Landlord written notice that the requested
portion of the Extension Allowance has not been timey paid. Landlord shall then have ten (10) business days to either pay the requested portion of the Extension Allowance or to provide Tenant written notice that Landlord disputes that the
requested portion of the Extension Allowance is due and payable to Tenant (the “Notice of Allowance Dispute”). Landlord and Tenant acknowledge and agree that a Notice of Allowance Dispute may only be delivered to Tenant by Landlord in the
event a dispute arises in connection with Tenant’s request for disbursement of the Extension Allowance. If within such ten (10) business day period Landlord fails to either pay the requested portion of the Extension Allowance or deliver
Tenant a Notice of Allowance Dispute, Tenant may, within five (5) business days following the expiration of such ten (10) business day period described above, provide to Landlord a second Extension Allowance Request (the “Second
Extension Allowance Request”) in compliance with the foregoing requirements but also stating in large, bold and capped font the following: “THIS IS TENANT’S SECOND EXTENSION ALLOWANCE REQUEST TO LANDLORD. LANDLORD FAILED TO RESPOND TO
TENANT’S FIRST EXTENSION ALLOWANCE REQUEST IN ACCORDANCE WITH THE TERMS OF SECTION 2 OF EXHIBIT “C-1” OF THE FIRST AMENDMENT TO LEASE. IF LANDLORD FAILS TO RESPOND TO THIS SECOND EXTENSION
ALLOWANCE REQUEST WITHIN TEN (10) BUSINESS DAYS FOLLOWING LANDLORD’S RECEIPT OF THIS SECOND EXTENSION ALLOWANCE REQUEST, TENANT SHALL HAVE THE RIGHT TO OFFSET THAT PARTICULAR 

  

			
	3 -  Exhibit “C-2”	  	13016-007 Fastly Second Amendment

 
EXTENSION ALLOWANCE AMOUNT AGAINST ANY RENTAL NEXT DUE AND OWING”. If (a) Tenant’s Second Extension Allowance Request strictly complies with the terms of this Section, and
(b) Landlord fails to respond to Tenant’s Second Extension Allowance Request within ten (10) business days of Landlord’s receipt of Tenant’s Second Extension Allowance Request, Tenant shall have the right to offset that
particular Extension Allowance amount against any Rental next due and owing. 
 3. ACCEPTANCE OF PREMISES. Subject to Section 8
of the Second Amendment, Tenant acknowledges and agrees to accept the Premises during the Extended Term in their “as-is” condition and Tenant acknowledges that neither Landlord, its asset
manager, property manager, nor any employee or agent of said entities have made any representation or warranty with respect to the condition of the Premises. 

4. CONTRACTORS; MATERIALS. 
 4.1
Approval Required. Tenant will cause the Extension Improvements to be constructed pursuant to the Plans by a general contractor reasonably acceptable to Landlord (“Contractor”), with Landlord reserving the right to approve all
subcontractors, with all such approvals being in writing, and not to be unreasonably withheld or delayed. Notwithstanding the foregoing, the general contractor and all subcontractors shall be union labor. Tenant shall not permit any other contractor
or subcontractor to perform work in the Premises in connection with the Extension Improvements without the express prior written consent of Landlord, which consent shall not be unreasonably withheld. Any such contractors approved by Landlord for the
performance of any work in the Premises shall be subject to the supervision of Landlord’s contractor. Unless otherwise expressly described in the Plans, all wall coverings, woodwork (if any), paint, floor coverings, and other finishes shall be
of a quality comparable to finishes typically used in the Building (“Building Standard”) from time to time for general tenant improvement work in the Building. All material and workmanship used in construction by Tenant or Tenant’s
contractors of the Extension Improvements shall be of a quality that is at least Building Standard. 
 4.2 Contractor Requirements.
Tenant’s contractors shall comply with all reasonable rules and regulations which Landlord may generally impose from time to time upon contractors and subcontractors in the building. Tenant shall require all contractors and subcontractors
performing construction or alterations to the Premises to, prior to commencing any such work, furnish Landlord with original certificates of insurance evidencing that such contractors and subcontractors carry: (i) workers compensation insurance
in such amounts as may be required by law; (ii) liability insurance (including owned and non-owned automobile liability) with limits of no less than $1,000,000; (iii) employers’ liability insurance
with limits of at least $1,000,000; and (iv) umbrella/excess liability insurance with limits of not less than $2,000,000. All such liability policies shall (x) name Landlord, its asset manager and property manager as additional insureds;
(y) be primary to and non-contributory with any insurance policies carried by Landlord or such asset or property manager; and (z) contain contractual liability and cross liability endorsements in
favor of Landlord, its asset manager and property manager. 

  

			
	4 -  Exhibit “C-2”	  	13016-007 Fastly Second Amendment

 
4.3 No Warranty. Landlord’s supervision and/or approval of any contractor or any contractor’s work in connection with the Extension Improvements shall not under any
circumstances constitute a warranty or representation that such work was properly performed or designed or create any liability for payment for such work by Landlord. Rather, Tenant acknowledges that such supervision by Landlord, regardless of
whether Landlord earns a fee for same, is for the sole benefit of Landlord and the property wherein the Premises are located. 
 5. EXTRA WORK. 

5.1 In General. Except as expressly approved in writing by Landlord pursuant to the provisions of this paragraph 5, Tenant shall
not revise the final Plans or any portion of the Extension Improvements which have been constructed (all such revised work is hereinafter collectively referred to herein as “Extra Work”). 

5.2 Procedure. If any request by Tenant for Extra Work would require a change to the final Plans such revised Plans shall be
performed by Tenant at Tenant’s expense (subject to application of the Extension Allowance). Landlord shall respond in writing within three (3) business days to any request by Tenant for the approval of Extra Work. Any approval of such
request may, in Landlord’s reasonable discretion, and be conditioned upon conditions which Landlord may find to be reasonable under the circumstances. 

  

			
	5 -  Exhibit “C-2”	  	13016-007 Fastly Second Amendment

 EXHIBIT D-1 

COMMENCEMENT DATE MEMORANDUM 

THIS MEMORANDUM is entered into as
of                     by and between CLPF-475 BRANNAN STREET L.P., a Delaware limited partnership
(“Landlord”), and Fastly, Inc., a Delaware corporation (“Tenant”), with respect to that certain Second Amendment to Lease dated as
of                     , 2019 (the “Second Amendment”) respecting certain premises (the “Premises”) located in the building known
as 475 Brannan Street, San Francisco, California. 
 Pursuant to Section 4 of the Second Amendment, Landlord and Tenant hereby confirm and agree that
the Extension Date (as defined in the Second Amendment) is April 1, 2020, and that the Extended Expiration Date (as defined in the Second Amendment) is July 31, 2027. This Memorandum supplements, and shall be a part of, the Lease. 

IN WITNESS WHEREOF, Landlord and Tenant have executed and delivered this Memorandum as of the day and year first above written. 

 

																			
	LANDLORD:
	
	 CLPF-475 BRANNAN STREET L.P.,

a Delaware limited partnership

		
	By:	 	 CLPF - 475 BRANNAN STREET GP, LLC

Its general partner

			
		 	By:	 	 Clarion Lion Properties Fund Holdings. L.P.,

Its sole member

				
		 		 	By:	 	 CLPF-Holdings, LLC,
 Its general
partner

					
		 		 		 	By:	 	 Clarion Lion Properties Fund Holdings REIT, LLC,

Its sole member

						
		 		 		 		 	By:	 	 Clarion Lion Properties Fund, LP,

Its managing member

							
		 		 		 		 		 	By:	 	 Clarion Partners LPF GP, LLC,

Its general partner

							
		 		 		 		 		 	By:	 	 Clarion Partners, LLC,
 Its sole
member

									
		 		 		 		 		 		 		 	By:	 	 /s/ Katie Vaz

		 		 		 		 		 		 		 		 	 Katie Vaz

Authorized Signatory

										
		 		 		 		 		 		 		 		 	Date:	 	

  

			
	TENANT:
	 FASTLY, INC.,
 a Delaware
corporation

			
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

			
	1 – Exhibit D-1Exhibit 10.7

 

THIS PROMISSORY NOTE (“NOTE”)
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”).  THIS NOTE HAS
BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF
UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH
REGISTRATION IS NOT REQUIRED.  

 

PROMISSORY NOTE

 

	Principal
Amount:  Up to $500,000.00
	February 19, 2019

 

MTech Acquisition Corp., a
Delaware corporation (“Maker”), promises to pay to the order of MTech Sponsor LLC or its registered assigns
or successors in interest or order (“Payee”), the principal sum of up to Five Hundred Thousand Dollars ($500,000.00)
in lawful money of the United States of America, on the terms and conditions described below.  All payments on this Note
(unless the full principal is converted pursuant to Section 15 below) shall be made by check or wire transfer of immediately available
funds to such account as Payee may from time to time designate by written notice in accordance with the provisions of this Note.

 

		1.	Repayment. The principal balance of this Note shall be payable on the earliest to occur
of (i) the date on which Maker consummates its initial business combination and (ii) the date that the winding up of Maker is effective
(such date, the “Maturity Date”). The principal balance may be prepaid at any time, at the election of Maker.

 

		2.	Interest. This Note shall be non-interest bearing.

 

		3.	Drawdown Requests. Payee, in its sole and absolute discretion, may fund up to Five Hundred
Thousand Dollars ($500,000.00) for costs reasonably related to Maker’s consummation of an initial business combination. The
principal of this Note may be drawn down from time to time until the date on which Maker consummates its initial business combination,
upon written request from Maker to Payee (each, a “Drawdown Request”). Each Drawdown Request must state the
amount to be drawn down, and must be in multiples of not less than Ten Thousand Dollars ($10,000) unless agreed upon by Maker and
Payee. Payee, in its sole discretion, shall fund each Drawdown Request no later than five (5) business days after receipt of a
Drawdown Request; provided, however, that the maximum amount of drawdowns collectively under this Note shall not exceed Five Hundred
Thousand Dollars ($500,000.00). Once an amount is drawn down under this Note, it shall not be available for future Drawdown Requests
even if prepaid. Except as set forth herein, no fees, payments or other amounts shall be due to Payee in connection with, or as
a result of, any Drawdown Request by Maker.

 

		4.	Application of Payments. All payments received by Payee pursuant to this Note shall
be applied first to the payment in full of any costs incurred in the collection of any sum due under this Note, including (without
limitation) reasonable attorney’s fees, and then to the reduction of the unpaid principal balance of this Note.

 

		5.	Events of Default. The following shall constitute an event of default (“Event
of Default”):

 

(a)          Failure to Make Required
Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days of the Maturity
Date.

 

(b)          Voluntary Bankruptcy, etc.
The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other
similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian,
sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment
for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate
action by Maker in furtherance of any of the foregoing.

 

     

     

    

 

(c)          Involuntary Bankruptcy,
Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary
case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian,
trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or
liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
days.

 

6.     Remedies.

 

(a)           Upon
the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note
to be due immediately and payable, whereupon the unpaid principal amount of this Note and all other amounts payable hereunder,
shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b)           Upon
the occurrence of an Event of Default specified in Sections 5(b) and 5(c) hereof, the unpaid principal balance of this Note and
all other amounts payable hereunder, shall automatically and immediately become due and payable, in all cases without any action
on the part of Payee.

 

7.    Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand,
notice of dishonor, protest, and notice of protest with regard to this Note, all errors, defects and imperfections in any proceedings
instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future
laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment,
levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment;
and Maker agrees that any real or personal property that may be levied upon pursuant to a judgment obtained by virtue hereof, on
any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

8.    Unconditional Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default,
or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability
of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification
granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may
be granted by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers,
guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

9.    Notices. All notices, statements or other documents which are required or contemplated by this Note shall be: (i) in writing
and delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic
transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such
other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail
address most recently provided to such party or such other electronic mail address as may be designated in writing by such party.  Any
notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally,
on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business
day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

10.  Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO THE
CONFLICT OF LAWS PROVISIONS THEREOF.

 

11.  Severability. Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction.

 

     

     

    

 

12.  Trust Waiver.  Notwithstanding anything herein to the contrary, Payee hereby waives any claim in or to any distribution
of or from the trust account (the “Trust Account”) established in connection with Maker’s initial public
offering (the “IPO”), and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any
claim against the Trust Account for any reason whatsoever; provided, however, that upon the consummation of the initial business
combination, Maker shall repay the principal balance of this Note out of the proceeds released to Maker from the Trust Account.

 

13.  Amendment; Waiver.  Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written
consent of Maker and Payee.

 

14.  Assignment.  No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party
hereto (by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment
without the required consent shall be void; provided, however, that the foregoing shall not apply to an affiliate of
Payee who agrees to be bound to the terms of this Note.

 

15.  Conversion.

 

(a) Notwithstanding
anything contained in this Note to the contrary, at Payee’s option, at any time prior to payment in full of the principal
balance of this Note, Payee may elect to convert all or any portion of the unpaid principal balance of this Note into that number
of units, each unit consisting of one share of Class A common stock of the Maker and one warrant exercisable for one share of Class
A common stock of the Maker (the “Conversion Units”) equal to: (x) the portion of the principal
amount of this Note being converted pursuant to this Section 15, divided by (y) $10.00, rounded up to the nearest whole number
of units. The Conversion Units shall be identical to the units issued by the Maker to the Payee in a private placement upon consummation
of the Maker’s initial public offering. The Conversion Units and their underlying securities, and any other equity security
of Maker issued or issuable with respect to the foregoing by way of a stock dividend or stock split or in connection with a combination
of shares, recapitalization, amalgamation, consolidation or reorganization, shall be entitled to the registration rights set forth
in Section 16 hereof.

 

(b) Upon any complete
or partial conversion of the principal amount of this Note, (i) such principal amount shall be so converted and such converted
portion of this Note shall become fully paid and satisfied, (ii) Payee shall surrender and deliver this Note, duly endorsed, to
Maker or such other address which Maker shall designate against delivery of the Conversion Units, (iii) Maker shall promptly deliver
a new duly executed Note to Payee in the principal amount that remains outstanding, if any, after any such conversion and (iv)
in exchange for all or any portion of the surrendered Note, Maker shall, at the direction of Payee, deliver to Payee (or its members
or their respective affiliates) (Payee or such other persons, the “Holders”) the Conversion Units, which shall
bear such legends as are required, in the opinion of counsel to Maker or by any other agreement between Maker and Payee and applicable
state and federal securities laws.

 

(c) The Holders shall
pay any and all issue and other taxes that may be payable with respect to any issue or delivery of the Conversion Units upon conversion
of this Note pursuant hereto; provided, however, that the Holders shall not be obligated to pay any transfer taxes resulting from
any transfer requested by the Holders in connection with any such conversion.

 

(d) The Conversion
Units shall not be issued upon conversion of this Note unless such issuance and such conversion comply with all applicable provisions
of law.

 

16.  Registration Rights.

 

(a) Reference is made
to that certain Registration Rights Agreement between Maker and the parties thereto, dated as of January 29, 2018 (the “Registration
Rights Agreement”). All capitalized terms used in this Section 16 shall have the same meanings ascribed to them in the
Registration Rights Agreement.

 

(b) The Holders shall
be entitled to one Demand Registration, which shall be subject to the same provisions as set forth in Section 2.1 of the Registration
Rights Agreement.

 

     

     

    

 

(c) The Holders shall
also be entitled to include the Conversion Units and their underlying securities in Piggyback Registrations, which shall be subject
to the same provisions as set forth in Section 2.2 of the Registration Rights Agreement; provided, however, that in the event that
an underwriter advises Maker that the Maximum Number of Securities has been exceeded with respect to a Piggyback Registration,
the Holders shall not have any priority for inclusion in such Piggyback Registration.

 

(d) Except as set forth
above, the Holders and Maker, as applicable, shall have all of the same rights, duties and obligations set forth in the Registration
Rights Agreement.

  

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF, Maker, intending
to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written.

 

	 	MTECH ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Scott Sozio
	 	Name:	Scott Sozio
	 	Title:	Chief Executive Officer

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