Document:

Exhibit 10.01

 Exhibit 10.01 
 CONFIDENTIAL TREATMENT REQUESTED 
 WITH RESPECT OF CERTAIN PORTIONS

 HEREOF DENOTED WITH “[***]” 
 THIRD AMENDMENT TO LEASE 
 THIS THIRD AMENDMENT TO LEASE (this
“Third Amendment”) is made as of June 23, 2004 by and between HULL POINT, LLC, a Maryland limited liability company (“Landlord”) and KP SPORTS, INC., a Maryland corporation, d/b/a Under Armour Performance Apparel
(“Tenant”). 
 RECITALS 

R.1 By that Office Lease dated March 29, 2002 by and between Landlord and Tenant, as amended by that First
Amendment to Lease dated September 10, 2002 and that Second Amendment to Lease dated March 6, 2003 (collectively, the “Original Lease”), Landlord leased to Tenant and Tenant leased from Landlord certain space containing 31,880
rentable square feet of space on the third (3rd ) floor of
The Ivory Building and 4,661 rentable square feet on the fourth (4th ) floor of The Ivory Building (the “Original Premises”) located at Tide Point, 1020 Hull Street, Baltimore, Maryland 21230 (the Original Lease together with this Third Amendment are referred to
collectively as the “Lease”). 
 R.2 Landlord and Tenant desire to amend the terms and conditions of the Original
Lease to reflect an expansion of the Original Premises of 483 rentable square feet of space comprising the bridge area between The Ivory Building and The Cascade Building as more particularly depicted on Exhibit A (the “Expansion
Space”), to extend the term of the Original Lease, and to make certain other amendments as provided herein. 
 NOW,
THEREFORE, in consideration of the above Recitals and for other good and valuable consideration, the receipt and sufficiency of which is mutually acknowledged, the parties agree as follows: 

1. Recitals. All of the above-referenced Recitals are incorporated into and made a substantive part hereof. 

2. Definitions. Unless otherwise defined herein, all capitalized terms herein shall have the meaning set forth in the Original
Lease. 
 3. Amendments to Original Lease. The Original Lease is hereby amended as follows: 

3.1. Lease Term. The Original Lease currently expires on April 30, 2005. Landlord hereby agrees to extend the Lease Term for
an additional two (2) year period (the “Extension Period”). The Termination Date of the Lease shall occur on April 30, 2007. 
 3.2. Rent. Tenant shall pay Base Rent for the Original Premises during the Extension Period as follows: 
  

											
	 Lease Year
	  	 Per Square Foot
	  	        Monthly        
	 	  	        Annual        
	 
	 5/1/05-4/30/06
	  	$[***] on 31,880 rentable square feet
(3rd floor)	  	$	[***]	  	  	$	[***]	  
		  	$[***] on 4,661 rentable square feet
(4th floor)	  	$	[***]	  	  	$	[***]	  
	 5/1/06-4/30/07
	  	$[***] on 31,880 rentable square feet
(3rd floor)	  	$	[***]	  	  	$	[***]	  
		  	$[***] on 4,661 rentable square feet
(4th floor)	  	$	[***]	  	  	$	[***]	  

 3.3. Expansion Space. 

(a) Delivery. Landlord shall deliver to the Tenant the Expansion Space on or about June 15, 2004 (the “Delivery
Date”). On the date Landlord delivers the Expansion Space to Tenant, the definition of the term “Premises” shall include the Expansion Space, and the rentable square footage of the Premises shall be increased to 37,024 based on a core
factor of [***] percent ([***]%). 
 (b) Construction of Expansion Space. Landlord shall construct the Expansion Space in
accordance with plans and specifications agreed to by Landlord and Tenant. Corporate Healthcare Financing, Inc. t/a Performax (“Performax”), another tenant at the Project, shall contribute $41,000 towards the cost of constructing the
Expansion Space as more particularly set forth in the Sublease Agreement dated June 1, 2004 between Tenant and Performax, as consented to by Landlord (the “Performax Sublease”). Landlord shall be responsible for all other costs of
constructing the Expansion Space. 
 (c) Rent. Commencing on the Delivery Date, Tenant shall pay Base Rent for the
Expansion Space as follows: 
  

											
	 Lease Year
	  	 Per Square Foot
	  	        Monthly        
	 	  	        Annual        
	 
	 6/15/04-4/30/05
	  	$[***] on 483 rentable square feet (bridge area)	  	$	[***]	  	  	$	[***]	  
	 5/1/05-4/30/06
	  	$[***] on 483 rentable square feet (bridge area)	  	$	[***]	  	  	$	[***]	  
	 5/1/06-4/30/07
	  	$[***] on 483 rentable square feet (bridge area)	  	$	[***]	  	  	$	[***]	  

 3.4. Renewal. Section 3.3 of the Original Lease is hereby deleted. Landlord and Tenant hereby
confirm Tenant’s renewal rights under the Lease as follows: 
 (a) Expansion Option Not Exercised. If Tenant fails to
exercise its option to expand into the remainder of Performax’ s leased space at the Project in accordance with Section 

  
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10 of the Performax Sublease, Tenant shall have the option to renew the Term of the Lease (the “Non-Expansion Renewal Term”) for four (4) periods of one (1) year each
(5/1/07-4/30/08, 5/1/08-4/30/09, 5/1/09-4/30/10 and 5/1/10-4/30/11) and one (1) period often months (5/1/11-2/28/12) (each, a “Non-Expansion Renewal Option”). 
 Except as otherwise expressly provided in this Lease, all terms, covenants, and conditions of the Lease shall remain in full force and effect during the Non-Expansion Renewal Term, except that the Rent
applicable to the Non-Expansion Renewal Term shall be Market Rent (as defined below) for the first Non-Expansion Renewal Option set forth in the preceding paragraph and shall escalate by [***]% commencing on the first day of each subsequent
Non-Expansion Renewal Option. 
 (b) Expansion Option Exercised. If Tenant exercises its option to expand into the
remainder of Performax’s leased space at the Project in accordance with Section 10 of the Performax Sublease, Tenant shall have the option to renew the Term of the Lease (the “Expansion Renewal Term,” the Expansion Renewal Term
and the Non-Expansion Renewal Term are each a “Renewal Term”) for one (1) period of one (1) year (5/1/07-4/30/08), one (1) period of two (2) years (5/1/08-4/30/10), and one (1) period of one (1) year and nine
(9) months 5/1/10-2/28/12) (each, an “Expansion Renewal Option,” the Expansion Renewal Option and the Non-Expansion Renewal Option are each a “Renewal Option”). 

Except as otherwise expressly provided in this Lease, all terms, covenants, and conditions of the Lease shall remain in full force and
effect during the Expansion Renewal Term, except that the Rent applicable to the Expansion Renewal Term shall be Market Rent (as defined below) for the first Expansion Renewal Option set forth in the preceding paragraph and shall escalate by [***]%
commencing on the first day each subsequent Expansion Renewal Option. 
 (c) Renewal Option Conditions. Tenant shall
exercise each Renewal Option by providing written notice to Landlord of its election to exercise such Renewal Option no later than nine (9) months prior to the expiration of the applicable term, provided, however, that Tenant’s option to
renew shall be subject to the condition that no default shall have occurred and be continuing after applicable notice and cure periods have expired as of the date of Tenant’s exercise of such option or as of the date of commencement of the
Renewal Term; and provided further, that if Tenant’s estate hereunder shall terminate prior to the commencement of the Renewal Term, Tenant’s option to renew shall expire upon such termination. Tenant shall have no other right to renew
this Lease after the Renewal Term. 
 In no event shall the Rent for the Renewal Term be less than the Rent in effect at the
expiration of the immediately preceding Term of the Lease. If the Tenant fails to give notice exercising the foregoing option by the date required herein, or if at the time Tenant exercises such option or at commencement of the Renewal Term the
Tenant is in default of any term of the Lease, or if the Lease is assigned by Tenant or the Premises is sublet in whole or part in violation of Section 14, then Tenant’s rights and options to renew shall be automatically terminated and of
no further force or effect. 
 (d) Market Rent Defined. For purposes of this Section, “Market Rent” shall be
the prevailing market rate of rent and all charges for comparable space at the end of the Term. If 

  
 3 

 
Tenant exercises its option to renew hereunder, Tenant and Landlord shall make a good faith effort to agree on the Market Rent on or before a date (the “Outside Negotiation Date”) which
is no later than six (6) months prior to the expiration of the Term, and prior to implementing the procedures set forth below if the parties are unable to agree. If Landlord and Tenant are unable to agree upon the Market Rent by the Outside
Negotiation Date, then Landlord and Tenant shall determine the Market Rent in accordance with the appraisal procedure set forth herein. Within ten (10) days after the Outside Negotiation Date, the parties shall appoint an appraiser who shall be
mutually agreeable to both Landlord and Tenant, shall have at least ten (10) years’ experience as a broker of commercial leasehold estates, and shall be knowledgeable in office rentals in the Baltimore, Maryland market. If the parties are
unable to agree on an appraiser within such ten (10) day period, then each party, within five (5) days after the expiration of such ten (10) day period, shall appoint an appraiser (with the same qualifications) and the two
(2) appraisers (or the one appraiser if either Landlord or Tenant fails timely to appoint an appraiser) shall together appoint a third appraiser with the same qualifications. The appraiser or appraisers so appointed then shall determine, within
sixty (60) days after the appointment of such appraiser or appraisers, the then Market Rent for the Premises. Among the factors to be considered by the appraiser(s) in determining the fair market base rent for the Premises shall be those
factors set out below. The figure arrived at by the appraiser (or the average of the figures arrived at by the three appraisers, if applicable) shall be used as the Market Rent for such renewal term. If the three appraiser method is chosen, then if
any appraiser’s estimate of fair Market Rent is either (x) less than ninety percent (90%) of the average figure or (y) more than one hundred ten percent (110%) of such average, then the fair market rent will be either
(1) the average of the remaining two (2) appraisal figures falling within such a range of percentages, (2) the remaining appraisal that is within such range of percentages or (3) if none of the figures are within such range, the
average of the three (3) appraisals. Landlord and Tenant shall each bear the cost of its appraiser and shall share equally the cost of the third appraiser. 
 In determining the Market Rent, the parties hereto and such appraisers shall be guided by the following principles: the Market Rent shall be determined by reference to office buildings in the Baltimore
metropolitan area most comparable to the quality, amenities, stature, reputation, visibility and services, excluding furniture, of the Building. The Market Rent shall take into account the length of the Renewal Term, the fact that there are no new
tenant improvements to be constructed by Landlord nor other lease-up costs (except broker commissions, if any) and shall provide for updating the Base Year Operating Costs to the first year of each renewal term, if such factors are considered market
concessions at such time. The valuation shall be conducted in accordance with the provisions of this Section and, to the extent not inconsistent herewith, in accordance with the then prevailing rules of the American Arbitration Association
in Maryland (or any successor thereto). The final determination of such appraisers shall be in writing and shall be binding and conclusive on the parties, each of whom shall receive counterpart copies thereof. In rendering such decision the
appraisers shall not add to, subtract from, or otherwise modify the provisions of this Lease. In determining the Market Rent, the appraisers shall consider all the items set forth above for consideration in determining the Market Rent, as well as
any other factors that they deem relevant. Instructions to such effect shall be given to the appraisers. 
 3.5. Right of
First Offer. Provided that both on the date of Tenant’s exercise of its option in regard hereto, and on the date upon which such space is to be occupied by Tenant 

  
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hereunder, (i) the Lease is in full force and effect, (ii) Tenant is not then in material default under the Lease, Tenant shall have the right, upon the conditions, and subject to the
terms, set forth herein, to lease additional office space which may be available for leasing (as hereinafter defined) throughout the Project (the “Offer Space”). If any such Offer Space is available for leasing, the Landlord shall provide
the Tenant with written notice (the “Landlord’s Offer Notice”), which notice shall describe the Offer Space expected to become available for occupancy by Tenant, the time of its availability and all of the terms, covenants, and
conditions of such lease of the Offer Space, including the amount of the rent for such Offer Space. 
 In the event that Tenant
desires to lease any such Offer Space, Tenant shall notify Landlord in writing within fifteen (15) business days following its receipt of the Landlord’s Offer Notice, of its desire to lease such Offer Space (the “Tenant’s
Response Notice”). Time shall be of the essence with respect to the giving of any Tenant’s Response Notice. Tenant’s failure to timely deliver a Tenant’s Response Notice to Landlord shall be deemed a decision not to exercise, and
also to waive, Tenant’s right to exercise such option with respect to such Offer Space but only for the occasion identified in such Landlord’s Offer Notice. 
 If, pursuant to the Tenant’s Response Notice, Tenant elects to lease the Offer Space, then and in such event, Landlord and Tenant shall enter into an amendment to this Lease, within thirty
(30) days following the date of the Tenant’s Response Notice for the lease of such Offer Space, which amendment, among other terms, covenants and conditions therein contained, shall provide for the Offer Space to be incorporated into the
Premises and the Base Rent and Tenant’s Proportionate Share to be modified to reflect the inclusion of the Offer Space. Any options to renew available to Tenant as to the Premises shall apply also to the Offer Space so incorporated into the
Premises. 
 All Offer Space shall be leased to Tenant on an “AS IS” basis, in the state and condition in which the
same shall be upon removal by the preceding occupant, if any, except that Landlord shall remove any items of personal property left by such occupant and shall deliver the Offer Space to Tenant in “broom clean” fashion. Tenant shall not be
entitled to any abatement or reduction of rent by reason of such state and condition. Landlord makes no representations as to the condition of any Offer Space or as to any other thing or fact related thereto, and Landlord shall have no obligation to
decorate, repair, alter, improve or otherwise prepare the Offer Space for Tenant’s occupancy. 
 If Landlord is unable to
give possession of any Offer Space to Tenant because of the holding over or retention of possession thereof by any tenant, subtenant or other occupant or for any other reason, Landlord shall not be subject to any liability for failure to give
possession and the validity of this Lease shall not be impaired under such circumstances, but in no event shall Tenant be obligated to pay rent on the Offer Space until the Landlord delivers possession thereof. The provisions of this paragraph shall
survive the entry into by Landlord and Tenant of an amendment to the Lease which pertains to the subject portion of the Offer Space. 
 As used herein, the term “available for leasing” shall mean space which (1) has or is reasonably expected to become vacant, and (2) is or is reasonably expected to be available for
leasing to tenants; it being understood and agreed that space “available for leasing” shall not include any space which, is vacant or occupied if such space is subject to a lease which grants

  
 5 

 
the tenant thereunder (“Existing Tenant”) any rights of, renewal or extension as to such space (“Existing Tenant Space”), or is as of the date hereof subject to any rights of
first offer or first refusal, expansion or other options granted to another tenant in the Project. Landlord agrees that: (i) Existing Tenant Space shall be deemed “available for leasing” if the Existing Tenant having expansion or
renewal rights relating thereto fails or loses the right under the applicable lease to act with respect to such Existing Tenant Space; and (ii) to advise the Tenant from time to time upon Tenant’s request of space “available for
leasing”; and (iii) it has by a separate writing on or about the date hereof advised the Tenant of any rights of first offer or first refusal and any expansion, renewal and similar options that exist as of the date hereof for the benefit
of other tenants (which information Tenant agrees to keep confidential). 
 3.6. Parking. Landlord agrees to construct,
at Landlord’s sole cost and expense, a surface parking lot on a lot located on Hull Street and owned by Landlord (the ‘Parking Lot”) for the exclusive use of Tenant and its employees for the parking of motor vehicles. The Parking Lot
will allow for up to forty-eight (48) parking spaces in accordance with the parking schematic attached hereto as Exhibit B (the Parking Schematic”). Landlord will provide Tenant with “UA Parking” hang tags to be
displayed in each motor vehicle and a sign at the entrance of the Parking Lot specifying that the Parking Lot is for Tenant’s sole and exclusive use. Management of the efficient use and maximum capacity of the Parking Lot in accordance with the
Parking Schematic shall be the responsibility of Tenant. 
 Beginning on the Substantial Completion Date (as defined below) and
ending on the Termination Date, Tenant shall lease the entire Parking Lot from Landlord and shall pay rent for the Parking Lot in the amount of $50.00 per parking space per month. The “Substantial Completion Date” shall occur on that date
that Landlord completes the striping of the Parking Lot. All monthly payments for the Parking Lot shall be deemed Additional Rent. 
 Landlord shall be responsible for all costs of operating the Parking Lot, including maintenance costs, electricity/lighting costs, real estate taxes, insurance costs, and snow removal costs. 

Tenant shall indemnify, defend (at Tenant’s cost) and save harmless the Landlord, its members and employees, from and against any
and all actions, claims or demands, suits at law, in equity, or before administrative tribunals, due to the negligence, intentional wrongful acts, or alleged negligence or intentional wrongful acts of Tenant, its officers, employees, sublessees,
agents, contractors, business invitees or visitors (except to the extent caused by any intentional wrongful act or negligence of the Landlord, its members and employees) in connection with the use of the Parking Lot or in connection with any breach
or default in performing any of the obligations under the provisions of this Third Amendment. 
 Landlord and Tenant acknowledge
that the Parking Lot is a temporary part of the parking facilities at the Project. Upon such time that Landlord makes available another parking area for the tenants at the Project (the “Substitute Parking Area”), Landlord shall have the
right to terminate Tenant’s parking rights in the Parking Lot and relocate Tenant’s parking spaces to the Substitute Parking Area, provided Landlord delivers written notice to Tenant at least six (6) months prior to relocation of such
parking spaces. At the time of such notice, Landlord shall 

  
 6 

 
determine the number of parking spaces in use by Tenant at the Parking Lot and shall provide for the same number of parking spaces in the Substitute Parking Area at market rates. 

4. Miscellaneous. 
 4.1. The language of this Third Amendment shall be construed according to its normal and usual meaning and not strictly for or against either Landlord or Tenant. 

4.2. The parties hereto hereby acknowledge and agree that, in connection with this Third Amendment hereunder, Landlord has used the
services of Colliers Pinkard. Any and all commissions due such brokers shall be paid in accordance with the terms and conditions set forth in a separate written agreement between the Landlord and Colliers Pinkard. Subject to the foregoing, each
party hereto hereby represents and warrants to the other that, in connection with such leasing, the party so representing and warranting has not dealt with any real estate broker, agent or finder, and there is no commission, charge or other
compensation due on account thereof. 
 4.3. If any clause or provision of this Third Amendment is or becomes illegal, invalid,
or unenforceable because of present or future laws or any rule or regulation of any governmental body or entity, effective during the Term (as extended hereby), the intention of the parties hereto is that the remaining parts of this Third
Amendment shall not be affected thereby. 
 4.4. The captions appearing within the body of this Third Amendment have been
inserted as a matter of convenience and for reference only and in no way define, limit or enlarge the scope or meaning of this Third Amendment or of any provision hereof. 
 4.5. This Third Amendment may be executed in several counterparts, all of which shall constitute one and the same instrument. 

4.6. Any references in the Original Lease to the “Lease” or the “Agreement” shall be deemed to include the Original
Lease as modified hereby. Except as modified hereby, all terms and conditions of the Original Lease shall continue in full force and effect. 
 IN WITNESS WHEREOF, the parties have caused this instrument to be executed as of the day and year first above written. 
  

									
	 WITNESS
	 		 	LANDLORD	 	
		 		 	HULL POINT, LLC	 	
				
		 		 	By: Locust Tide Point LLC, Managing Member	 	
				
	 [illegible]
	 	By:	 	 /s/ Carl W. Struever
	 	(SEAL)
		 		 	Carl W. Struever	 	
		 		 	Manager Member	 	

  
 7 

									
	 WITNESS:
	 		 	TENANT	 	
		 		 	KP SPORTS, INC.	 	
				
		 		 	 /s/ J. Scott Plank
	 	(SEAL)
		 		 	Name: J. Scott Plank	 	
	 [illegible]
	 	By:	 	Title: CAO	 	

  
 8 

 Exhibit A 
 Expansion Space 

 

 

 Exhibit B 
 Parking SchematicExhibit 10.02

 Exhibit 10.02 
 Certain portions hereof denoted with “[***]” have been omitted pursuant to a Request for 
 Confidential Treatment and have been filed separately with the Commission 

SIXTH AMENDMENT TO LEASE 
 THIS SIXTH AMENDMENT TO LEASE (this “Amendment”) is made as of this 1st day of May, 2007, by and between HULL POINT LLC, a Maryland limited liability company (“Landlord”)
and UNDER ARMOUR, INC., a Maryland corporation (“Tenant”), formerly known as KP Sports, Inc. 
 R.1. By that
Office Lease dated March 29, 2002 by and between Landlord and Tenant, as amended by: (a) that First Amendment to Lease dated September 10, 2002, (b) that Second Amendment to Lease dated March 6, 2003, (c) that Third
Amendment to Lease dated June 23, 2004, (d) that Fourth Amendment to Lease dated October 12, 2006, and (e) that Fifth Amendment to Lease dated December 1, 2006 (collectively, the “Existing Lease”), Landlord
leased to Tenant those certain premises consisting of: (i) 31,880 rentable square feet of space on the third floor, (ii) 4,661 rentable square feet of space on the fourth floor, (iii) 463 rentable square feet on the bridge of the
Ivory Building, (iv) 8,581 rentable square feet of space on the second floor of the Dawn Building, and (v) 4,400 rentable square feet of space on the second floor bridge between the Tide and Ivory Buildings (the “Existing
Premises”) located at Tide Point, 1020 Hull Street, Baltimore, Maryland 21230 (the Existing Lease together with this Amendment are referred collectively as the “Lease”). 

R.2. Landlord and Tenant desire to amend the terms and conditions of the Existing Lease to reflect: (a) an expansion of the Existing
Premises by (i) 5,000 rentable square feet of space on the second floor of the Tide Building (“Suite 200”), (ii) 12,594 rentable square feet of space on the third floor of the Tide Building (“Suite 300”),
and (iii) 1,673 rentable square feet of space on the second floor of the Tide Building (“Suite 210”), all as more particularly depicted on Exhibit A (referred to as the “Expansion Space”); and
(b) to modify and extend the Term of the Lease as described below. 
 R.3. Landlord and Tenant desire to amend the Lease
upon the terms and conditions set forth below. 
 AGREEMENT 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant
agree as follows: 
 1. Definitions. All capitalized terms not otherwise defined herein shall have the meanings ascribed
to them in the Lease. May 1, 2007 will constitute the “Effective Date.” 

  
 1 

 2. Amendments to Lease. The Lease is hereby amended as follows: 

2.1 Lease Term. The Existing Lease currently has several expiration dates, each tied to a portion of the Existing Premises. All
such expiration dates are hereby superceded and the Term of the Lease shall, unless otherwise provided in this Amendment or in the Lease, be until April 30, 2012. For purposes of establishing the Base Rent, the period from May 1, 2007
until April 30, 2008 shall be Lease Year 1, and each subsequent twelve calendar month period shall be the next succeeding Lease Year. 
 2.2 Rent. 
 (a) Through April 30, 2007, Tenant shall be responsible
for paying Base Rent in accordance with the Existing Lease. As of the Effective Date, Base Rent will be determined in accordance with the following provisions of this Amendment, notwithstanding the various rent schedules applicable beyond that date
set forth in the Fourth and Fifth Amendments. 
 (b) Tenant shall pay Base Rent for the Existing Premises and the 5,000 rentable
square feet of Suite 200 as follows: 
  

					
	 Lease Year
	  	Rent Per SF	 	Annual Amount
			
	 1
	  	$[***]	 	$[***]
			
	 2
	  	$[***]	 	$[***]
			
	 3
	  	$[***]	 	$[***]
			
	 4
	  	$[***]	 	$[***]
			
	 5
	  	$[***]	 	$[***]

 (c) Tenant shall pay Base Rent for the 12,594 rentable square feet of Suite 300 as follows: 

 

					
	 Lease Year
	  	Rent Per SF	 	Annual Amount
			
	 1
	  	$[***]	 	$[***]
			
	 2
	  	$[***]	 	$[***]
			
	 3
	  	$[***]	 	$[***]
			
	 4
	  	$[***]	 	$[***]
			
	 5
	  	$[***]	 	$[***]

  
 2 

 (d) Tenant shall pay Base Rent for the 1,673 rentable square feet of Suite 210 as follows:

  

					
	 Lease Year
	  	Rent Per SF	 	Annual Amount
			
	 1
	  	$[***]	 	$[***]
			
	 2
	  	$[***]	 	$[***]
			
	 3
	  	$[***]	 	$[***]
			
	 4
	  	$[***]	 	$[***]
			
	 5
	  	$[***]	 	$[***]

 2.3 Delivery of Expansion Spaces. Landlord shall deliver the Expansion Space to the Tenant on
May 1, 2007. As of the delivery date above, the definition of the term “Premises” shall include the Expansion Space, and the rentable square footage of the Premises shall be increased to 69,272. Tenant shall accept the Expansion Space
on an “as-is” basis with no further warranties or representations from the Landlord, except that Landlord warrants that, to its knowledge, the Expansion Space is free of hazardous materials. 

2.4 Base Year and Base Taxes. 
 (a) As of the Effective Date of this Amendment, the Base Operating Costs for the Existing Premises, Suite 210 and Suite 200 of the Expansion Space shall mean Operating Costs incurred for the 2007 calendar
year. As of the Effective Date of this Amendment, the Base Operating Costs for Suite 300 of the Expansion Space shall mean Operating Costs incurred for the 2000 calendar year. The 4% restriction on annual increases in Tenant’s Share of
Operating Costs shall continue to apply to the Premises, and as to Suite 300, shall be calculated from the 2000 calendar year as if Tenant had been subject to such increases in each subsequent year. If less than 95% of the rentable square feet in
the Project is occupied by tenants or Landlord is not supplying services to 95% of the rentable square feet of the Project at any time during any calendar year (including the Base Year), then Operating Costs for such calendar year shall be an amount
equal to the Operating Costs which would normally be expected to be incurred using reasonable projections and reasonable extrapolations from existing cost data had 95% of the Project’s rentable square feet been occupied and had Landlord been
supplying services to 95% of the Project’s rentable square feet throughout such calendar year. Furthermore, if after the Base Year, the Landlord provides additional services or incurs cost items in a category not otherwise covered in Operating
Costs as defined herein, the Base Operating Costs shall be increased in a manner as reasonably determined by Landlord to include such additional matter. 
 (b) As of the Effective Date of this Amendment, Base Taxes for the Existing Premises, Suite 210 and Suite 200 of the the Expansion Space shall mean Taxes incurred for the

  
 3 

 
state fiscal tax year beginning July 1, 2007 and ending June 30, 2008. As of the Effective Date of this Amendment, Base Taxes for Suite 300 of the the Expansion Space shall mean Taxes
incurred for the state fiscal tax year beginning July 1, 2000 and ending June 30, 2001. 
 2.5. Renewal.

 (a) Tenant shall have the option to renew the Term of this Lease for one (1) period of two (2) years (the
“Renewal Term”). Tenant shall exercise the option by providing written notice to Landlord of its election to exercise such option no later than twelve (12) months prior to the expiration of the Term (“Initial Notice
Period”), provided, however, that Tenant’s option to renew shall be subject to the condition that no default shall have occurred and be continuing after applicable notice and cure periods have expired as of the date of Tenant’s
exercise of such option or as of the date of commencement of the Renewal Term. Tenant shall have no other right to renew this Lease after the Renewal Term. Except as otherwise expressly provided in this Lease, all terms, covenants, and conditions of
this Lease shall remain in full force and effect during the Renewal Term, except that the Rent applicable to the Renewal Term shall be as set forth in this Section below. In no event shall the Rent for the Renewal Term be less than the Rent in
effect at the expiration of the immediately preceding Term of the Lease. If the Tenant fails to give notice exercising the foregoing option by the date required herein, or if at the time Tenant exercises such option or at commencement of the Renewal
Term the Tenant is in default beyond applicable notice and cure periods of any term of this Lease, or if this Lease is assigned by Tenant or the Premises is sublet in whole or part, then Tenant’s rights and options to renew shall be
automatically terminated and of no further force or effect. 
 (b) The Base Rent for the Renewal Term shall be the Market Rent
as determined in subsection (c) below. 
 (c) The “Market Rent” shall be the prevailing market rate of
rent and all charges for comparable space at the end of the Term as increased in accordance with market rate annual escalations. If Tenant exercises its option to renew hereunder, Tenant and Landlord shall make a good faith effort to agree on the
Market Rent on or before a date (the “Outside Negotiation Date”) which is no later than nine (9) months prior to the expiration of the Term, and prior to implementing the procedures set forth below if the parties are unable to
agree. If Landlord and Tenant are unable to agree upon the Market Rent by the Outside Negotiation Date, then Landlord and Tenant shall determine the Market Rent in accordance with the appraisal procedure set forth herein. Within ten (10) days
after the Outside Negotiation Date, the parties shall appoint a broker who shall be mutually agreeable to both Landlord and Tenant, shall have at least ten (10) years’ experience as a broker of commercial leasehold estates, and shall be
knowledgeable in office rentals in the Baltimore, Maryland market. If the parties are unable to agree on a broker within such ten (10) day period, then each party, within five (5) days after the expiration of such ten (10) day period,
shall appoint a broker (with the same qualifications) and the two (2) brokers (or the one broker if either Landlord or Tenant fails timely to appoint a broker) shall together appoint a third broker with the same qualifications. The broker or
brokers so appointed then shall determine, within sixty (60) days after the appointment of such broker or brokers, the then 

  
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Market Rent for the Premises. Among the factors to be considered by the broker(s) in determining the fair market base rent for the Premises shall be those factors set out below. The figure
arrived at by the broker (or the average of the figures arrived at by the three brokers, if applicable) shall be used as the Market Rent for such renewal term. If the three broker method is chosen, then if any broker’s estimate of fair Market
Rent is either (x) less than ninety percent (90%) of the average figure or (y) more than one hundred ten percent (110%) of such average, then the fair market rent will be either (1) the average of the remaining two
(2) appraisal figures falling within such a range of percentages, (2) the remaining appraisal that is within such range of percentages or (3) if none of the figures are within such range, the average of the three (3) appraisals.
Landlord and Tenant shall each bear the cost of its broker and shall share equally the cost of the third broker. 
 (d) In
determining the Market Rent, the parties hereto and such brokers shall be guided by the following principles: the Market Rent shall be determined by reference to newly finished built-out office space in office buildings in Baltimore, Maryland or
neighborhoods in the Baltimore, Maryland metropolitan area most comparable to the quality, location, amenities, stature, reputation, visibility and services of the Building. The Market Rent shall take into account the fact that there are no new
tenant improvements to be constructed by Landlord nor other lease-up costs (except broker commissions, if any) and shall provide for updating the Base Operating Costs to the first year of each renewal term, if such factors are considered market
concessions at such time. The valuation shall be conducted in accordance with the provisions of this Section and, to the extent not inconsistent herewith, in accordance with the then prevailing rules of the American Arbitration Association in
Maryland (or any successor thereto). The final determination of such brokers shall be in writing and shall be binding and conclusive on the parties, each of whom shall receive counterpart copies thereof. In rendering such decision the brokers shall
not add to, subtract from, or otherwise modify the provisions of this Lease. In determining the Market Rent, the brokers shall consider all the items set forth above for consideration in determining the Market Rent. Instructions to such effect shall
be given to the brokers. 
 (e) Notwithstanding the above, Tenant will have the right to rescind its renewal option at any time
within ten (10) calendar days after a final written determination is made of the Market Rent in accordance with the above procedures. 
 2.6. Parking. In addition to the rights to parking spaces under the Existing Lease, Tenant shall have the non-exclusive right to use 58 additional on-site parking spaces. At Landlord’s
request, Tenant shall provide license plate numbers for its employees and otherwise cooperate with Landlord’s management of the Parking Areas, which may include attended parking service. Tenant shall not obligated to pay any Additional Rent for
any such parking spaces. 

  
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 2.7. Limited Right of Termination. 

(a) Tenant shall have a conditional right to terminate this Lease effective [***] (the “Early Termination Date”). If
Tenant exercises its right hereunder, it shall give the Landlord written notice of its election to terminate (the “Termination Notice”) at least [***] months prior to the Early Termination Date (the “Termination
Period”). 
 (b) [***] 
 (c) [***] 
 (d) If, and only if, Tenant delivers the Termination Notice within the
Termination Period, and Tenant pays to Landlord the Termination Fee, if required, and further provided that Tenant is not in default of any term of this Lease beyond any applicable notice and cure period either on the date of the Termination Notice
or on the Early Termination Date, then the Lease will terminate effective on the Early Termination Date. 
 2.8. Assignment
and Subletting. The provisions of Section 14 of the Existing Lease will continue to apply to any assignment or subletting of the Premises, however no consent from Landlord will be required for an assignment or subletting of all or any
portion of the Premises so long as Tenant remains obligated on the Lease and the percentage of profit that is payable for Landlord in accordance with Section 14.4 would increase to one hundred percent. 

3. Survival and Conflict. The Lease shall remain in full force and effect, fully binding on Landlord and Tenant and unmodified
except as expressly provided herein. In the event of any conflict between the terms of the Lease and the terms of this Amendment, the terms of this Amendment shall govern. 

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

											
	LANDLORD:	 		 	HULL POINT LLC, a Maryland limited liability company	 	
					
	/s/ Kathleen A. Hearn	 		 	By:	 	/s/ J. Martin Lastner	 	(SEAL)
	Witness	 		 	Name:	 	J. Martin Lastner	 	
		 		 	Title:	 	VP Operating Properties	 	

  

											
	TENANT:	 		 	UNDER ARMOUR, INC. (formerly known as KP SPORTS, INC.), a Maryland corporation	 	
					
	/s/ Kathleen A. Hearn	 		 	By:	 	/s/ J. Scott Plank	 	(SEAL)
	Witness	 		 	Name:	 	J. Scott Plank	 	
		 		 	Title:	 	Senior Vice President	 	

  
 7 

 Exhibit A - Expansion Space 

 

  
 8 

 EXHIBIT B 
 Drawing showing approximate location of Premises 
 

 

  
 9 

 EXHIBIT B 
 Drawing showing approximate location of Premises 
 

 

  
 10

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