Document:

Employment Agreement

 Exhibit 10.73 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement is entered into as of November 1, 2005, by and between Borland Software Corporation, a Delaware corporation (the
“Company”), and Tod Nielsen (the “Executive”). 
  
 WHEREAS, the Executive and the Company wish to enter into this employment agreement to govern the terms of the Executive’s employment relationship with the Company; 
  
 NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants and agreements set forth below, the
parties hereto, intending to be legally bound hereby, agree as follows: 
  
 1. Duties and Scope of Employment. 
  
 a. Positions; Duties. The Executive will be employed by the Company as its President and Chief Executive Officer, reporting solely and directly to the Company’s Board of Directors (the “Board”).
All other employees of the Company will report to the Executive or his designee and not directly to the Board, subject to any regulatory or other legal requirements. During the Employment Term (as defined below), the Executive will have such
responsibilities, duties and authorities as commensurate with chief executive officers of public entities of similar size and, in particular, will be, in addition to being responsible for the operations of the Company, the chief external
representative of the Company. 
  
 b. Board Membership. At
each annual meeting of the Company’s stockholders during the Employment Term, the Company and the Board will nominate Executive to serve as a member of the Board. Executive’s service as a member of the Board will be subject to any required
stockholder approval. 
  
 c. Obligations. During the
Employment Term, the Executive will devote his full business efforts and time to the Company and will not engage in any activity that will create any conflict in interest between himself and the Company. For the duration of the Employment Term,
Executive agrees not to actively engage in any other employment, occupation, or consulting activity for any direct or indirect remuneration without the prior approval of the Board (which approval will not be unreasonably withheld); provided,
however, that the Executive may, without the approval of the Board, serve in any capacity with any civic, educational, or charitable organization, provided such services do not interfere with Executive’s obligations to Company. 
  
 2. At-Will Employment. The Executive and the Company agree that
Executive’s employment with the Company constitutes “at-will” employment. The Executive and the Company acknowledge that this employment relationship may be terminated at any time, upon written notice to the other party, with or
without good cause or for any or no cause, at the option either of the Company or the Executive. However, as described in this Agreement, the Executive may be entitled to severance benefits depending upon the circumstances of Executive’s
termination of employment. The Executive agrees to resign from his position as a member of the Board immediately following the termination of his employment if the Board so requests. 
  

 -1- 

 3. Term of Employment. The Executive’s employment will begin as soon as possible as agreed to
by the parties but no later than November 28, 2005 (the “Effective Date”). The Executive’s start date is contingent upon successful completion of a background check (for undisclosed criminal record or civil action). In addition,
as a condition of the Executive’s employment, he will be required to provide the Company with documents establishing his identity and right to work in the United States. Those documents must be provided to the Company within three
(3) business days after the Effective Date. The Executive’s employment with the Company will continue until the earliest of (a) the Executive’s death, (b) the termination of the Executive’s employment by the Company for
Cause (as defined below), (c) the termination of the Executive’s employment by the Executive by reason of a Constructive Termination (as defined below), or (d) the time either party will have given notice to the other that this
Agreement will terminate for any reason other than enumerated above (such period of employment, the “Employment Term”). Upon the termination of the Executive’s employment with the Company, for any reason, neither the Executive nor the
Company will have any further obligation or liability under this Agreement to the other, except as set forth in paragraphs 4 through 22 below. 
  
 4. Compensation. The Executive will be compensated by the Company for his services as follows: 
  
 a. Annual Salary. During the Employment Term, the Company will pay
the Executive an Annual Salary at a rate of $600,000 per annum (such annual salary, as in effect to be referred to herein as the “Annual Salary”), in accordance with the Company’s policy applicable to senior executives. The
Compensation Committee of the Board (the “Compensation Committee”) will review the Executive’s Annual Salary from time to time and may increase the Annual Salary in its sole discretion. 
  
 b. Incentive Compensation Bonus. During the Employment Term, the
Executive will be entitled to a bonus (the “Bonus”) pursuant to the Company’s Incentive Compensation Plan for senior management (the “ICP”). The Bonus will range between 0% and 150% of the Executive’s Annual Salary
based on the achievement of both corporate performance objectives and personal performance objectives, with 100% being the Bonus for on target performance. The targets at each plan level will be determined jointly between the Executive, the
Compensation Committee, and the Board. Except as otherwise specified in this Agreement, the Executive will not be entitled to any other Company bonus or incentive compensation payments. 
  
 c. Signing Bonus. Prior to the end of 2005, the Executive will receive a signing bonus of $1,000,000 to defray the
increased cost of living in the San Francisco Bay Area; provided, however, that the Executive will be required to forfeit this payment if he does not relocate his principal place of residency by June 1, 2006. 
  
 d. Discretionary Executive Bonus. At the discretion of the
Compensation Committee, the Executive may be entitled to a discretionary bonus payment based on the Company’s recommendation. 
  
 e. Restricted Share Units. The Executive will receive a grant of 250,000 units of restricted ordinary shares of the Company (“Restricted Share
Units”). All of the Restricted 

 Share Units will vest based upon the performance of the Company with the standards of performance to be determined by the
Board and the Executive. The Restricted Share Units will be subject to the terms and conditions of the plan document and standard form of Restricted Share Unit agreement. 
  
 f. Stock Options. The Company will grant to the Executive an initial option grant to purchase 1,500,000 ordinary
shares of the Company (the “Option”). The Option will be granted no later than the Effective Date, with an exercise price equal to the fair market value of the underlying shares of the Company as of the grant date. The Option will be
subject to the terms and conditions of the Company’s 2003 Stock Incentive Plan (the “Stock Plan”) and to the standard form of option agreement to be executed by the Executive and the Company. The Option will vest with respect to
1/4th of the shares upon the first anniversary of the Effective Date and 1/36th of the remaining shares subject to the Option will vest each month thereafter, subject to the Executive’s continued employment with the Company
and otherwise remaining eligible under the Stock Plan on each relevant vesting date. Following any termination of Executive’s employment for any reason, Executive shall have twelve (12) additional months from the otherwise applicable
expiration date pursuant to the Stock Plan to exercise any vested options, but in no case longer than the applicable term of the option grant. 
  
 g. Relocation Benefits. In consideration of the Executive’s relocation of his principal residence to enter into this Agreement, prior to the
end of 2005, the Company will provide the Executive with a one-time bonus of $50,000, increased to assist with any applicable federal or state taxes on such bonus, to cover incidental relocation costs. The Company will also reimburse the Executive
for reasonable moving expenses associated with moving his household goods to California. In addition, the Company will reimburse the Executive for reasonable, temporary housing costs for a period of up to six (6) months. Further, the Company
will reimburse the Executive for reasonable travel expenses for visits with his immediate family until they have relocated to California. The Company will reimburse the Executive for transaction costs related to the sale of his current principal
residence and the purchase of a new home in the San Francisco Bay Area; provided, however, such transaction costs will not include points to “buy-down” the cost of a mortgage. 
  
 h. Benefits. The Executive will have the right, on the same basis as
other members of senior management of the Company, to participate in and to receive benefits under any of the Company’s employee benefit plans, as such plans may be modified from time to time. In addition, the Executive will be entitled to the
benefits afforded to other members of senior management under the Company’s vacation, holiday and business expense reimbursement policies. 
  
 5. Benefits upon Termination by Company. 
  
 a. Prior to a Change of Control (as defined below), if the Executive’s employment with the Company is terminated by the Company for Cause, the
Executive will only be entitled to receive any earned but unpaid Annual Salary, bonuses and unreimbursed expenses through the date of termination, and no other payments or benefits will be made or provided to the Executive or his estate hereunder.

 b. If the Executive’s employment with the Company is terminated by the Company in connection with or
by reason of a Change of Control, Executive shall be entitled to the benefits set forth in Section 7. 
  
 c. Prior to a Change of Control (as defined below) if the Executive’s employment is terminated by the Company for any reason other than for Cause,
then, in lieu of any other payments or benefits hereunder, the Executive (or his estate) will receive (i) any earned but unpaid Annual Salary, bonuses and unreimbursed expenses through the date of termination and (ii) subject to
Section 9 hereof, a cash lump sum equal to the Annual Salary then in effect for him (such amount will be calculated without regard to any reduction to Annual Salary made in breach of this Agreement). Subject to Section 9, amounts payable
pursuant to this Section 5 will be paid to the Executive, or his estate, as the case may be, within the prescribed Code Section 409A time period. 
  
 d. For purposes of this Agreement, “Cause” means (i) the Executive’s willful and continued failure to perform the duties and
responsibilities of his position that is not corrected within a thirty (30) day correction period that begins upon delivery to the Executive of a written demand for performance from the Board that describes the basis for the Board’s belief
that Executive has not substantially performed his duties; (ii) any act of personal dishonesty taken by the Executive in connection with his responsibilities as an employee of the Company with the intention that such may result in substantial
personal enrichment of the Executive; (iii) the Executive’s conviction of, or plea of nolo contendre to, a felony that the Board reasonably believes has had or will have a material detrimental effect on the Company’s reputation or
business, or (iv) the Executive materially breaching the Executive’s Employee Confidentiality and Assignment of Inventions Agreement, which breach is (if capable of cure) not cured within thirty (30) days after the Company delivers
written notice to the Executive of the breach. 
  
 6. Benefits
upon Termination by Executive. 
  
 a. If the Executive’s
employment with the Company is terminated by the Executive other than by reason of a Change of Control, the Executive will only be entitled to receive any earned but unpaid Annual Salary or unreimbursed expenses through the date of termination, and
no other payments or benefits will be made or provided to the Executive hereunder. 
  
 b. If the Executive’s employment with the Company is terminated by the Executive in connection with or by reason of a Change of Control, Executive shall be entitled to the benefits set forth in Section 7.

  
 c. If prior to a Change in Control, if the Executive’s
employment with the Company is terminated by the Executive by reason of a Constructive Termination, then, in lieu of any other payments or benefits hereunder, the Executive (or his estate) will receive (i) any earned but unpaid Annual Salary,
bonuses and unreimbursed expenses through the date of termination and (ii) subject to Section 9 hereof, a cash lump sum equal to the Annual Salary then in effect for him (such amount will be calculated without regard to any reduction to
Annual Salary made in breach of this Agreement or which results in a Constructive Termination occurring) and Subject to Section 9, amounts payable pursuant to this Section 6 will be paid to the Executive, or his estate, as the case may be,
within the prescribed Code Section 409A time period. 

 d. For purposes of this Agreement, a “Constructive Termination” will occur if any of the
following events occurs without the Executive’s prior written consent: 
  
 (i) any significant reduction or diminution (except temporarily during any period of disability) in Executive’s titles or positions or any material diminution in Executive’s authority, duties or
responsibilities with the Company which is made without the Executive’s consent; 
  
 (ii) any material breach of this Agreement by the Company, which breach, if curable, is not cured within thirty (30) days following written notice of such breach from the Executive; or 
  
 (iii) the failure to nominate the Executive to the Board at any time
hereafter or the removal of Executive there from. 
  
 7.
Benefits upon a Change in Control. 
  
 a. In the event
there is a “Change in Control” (as defined herein) of the Company during the Employment Term and within two (2) months prior or twelve (12) months after the effective date of such Change in Control, the Executive ceases to be the
President and Chief Executive Officer of the new successor entity, a Constructive Termination otherwise occurs, or the Executive is terminated without Cause, then, subject to Section 9 hereof, the Executive will receive (i) a cash lump sum
equal to the Annual Salary and bonuses (in an amount no less than the average for the last two years or the ICP target, whichever is higher) for a period of twelve (12) months following the termination date; (ii) accelerated vesting as of
the termination date of 100% of the Executive’s then unvested and outstanding Option and Restricted Share Units granted pursuant to this Agreement; and (iii) accelerated vesting as of the termination date of 100% of any other unvested and
outstanding equity awards granted to the Executive’s, if any, as long as such equity awards are granted at any time six (6) months prior to the effective date of the Change in Control (as such effective date is defined in a Letter of
Intent to sell or merger the Company). 
  
 b. For purposes of this
Agreement, “Change of Control” will have the same meaning as defined in the stock option agreement for the Stock Plan (as may be amended to comply with the provisions of the proposed regulations under Internal Revenue Code
Section 409A). 
  
 8. Compliance with Code
Section 409A. 
  
 a. Notwithstanding anything to the
contrary in this Agreement, any severance payments herein will not be paid during the six (6) month period following the Executive’s termination of employment unless the Company determines, in its good faith judgment, that paying such
amounts before the six (6) month period would not cause the Executive to incur an additional tax under Internal Revenue Code Section 409A. The payment of any amounts as a result of the previous sentence, shall become payable in a lump sum
payment on the date six (6) months and one (1) day following the date of the Execeutive’s termination. 

 b. Notwithstanding anything to the contrary in this Agreement, in the event that the Internal Revenue
Service determines that any aspect of this Agreement results in deferred compensation for the Executive under Code Section 409A, the Company will possess no responsibility for or liability for any payment of any additional tax or penalties
imposed on the Executive by the Internal Revenue Service, other than the Company’s standard withholding obligations. 
  
 9. Release Agreement. In the event of the Executive’s termination of employment with the Company under circumstances in which the Executive is
entitled to a severance payment (i.e., a payment in addition to any earned but unpaid Annual Salary, Bonus or unreimbursed expenses), the parties will execute a mutual release substantially in the form attached hereto as Attachment A. Execution of
such release by the Executive and expiration of the revocation period referred to therein will be a condition to the Executive’s receipt of any severance benefits or payments hereunder. 
  
 10. Employee Confidentiality and Assignment of Inventions Agreement.
The Executive agrees to abide and be bound by the terms and conditions of the Company’s Standard Employee Confidentiality and Assignment of Inventions Agreement (attached hereto as Attachment B). 
  
 11. Liability Insurance. The Company shall cover Executive under
directors and officer’s liability insurance both during and while potential liability exists, after the Employment Term in the same amount and to the same extent as the Company covers its other officers and directors. 
  
 12. Non-solicitation. The Executive agrees that for a period of one
year after the date of the termination of his employment for any reason, he will not, either directly or indirectly, solicit (other than pursuant to general non- targeted public media advertisements) the services, or attempt to solicit the services,
of any employee of the Company. 
  
 13. Notices. All
notices, requests, demands and other communications called for hereunder will be in writing and will be deemed given if (a) delivered personally or by facsimile, (b) one (1) day after being sent by Federal Express or a similar
commercial overnight service, or (c) three (3) days after being mailed by registered or certified mail, return receipt requested, prepaid and addressed to the parties or their successors in interest at the following addresses, or at such
other addresses as the parties may designate by written notice in the manner aforesaid: 
  
 If to the Company: 
  
 Borland
Software Corporation 
 100 Enterprise Way 
 Scotts Valley, CA 95066-3249 
 Attn: Compensation Committee 
  
 If to Executive: 
  
 at the last residential address known by the Company. 

 14. Mitigation. The Executive will not be required to seek other employment or otherwise mitigate
the value of any severance benefits or payments contemplated by this Agreement, nor will any benefits or payments be reduced by any earnings or benefits that the Executive may receive from any other source. Amounts payable hereunder will not be
subject to set-off, counterclaim, recoupment, defense or other right which the Company may have against the Executive or others. 
  
 15. Dispute Resolution. In the event of any dispute, controversy or claim relating to, arising out of or in connection with this Agreement
(including, but not limited to, any claims of breach of contract, wrongful termination or age, sex, race or other discrimination), the Executive and the Company agree that all such disputes will be fully and finally resolved by binding arbitration
conducted by the American Arbitration Association in Santa Clara, California or such other location agreed by the parties hereto in accordance with its National Rules for the Resolution of Employment Disputes, as then in effect. The Executive
acknowledges that by accepting this arbitration provision he is waiving any right to a jury trial in the event of such dispute. The arbitrator may grant injunctions or other relief in such dispute or controversy. The decision of the arbitrator will
be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction. Notwithstanding the foregoing, this arbitration provision will not apply to any disputes
or claims relating to or arising out of the misuse or misappropriation of trade secrets or proprietary information. 
  
 16. Attorneys’ Fees. The prevailing party will be entitled to recover from the losing party its attorneys’ fees and costs incurred in any
action brought to enforce any right arising out of this Agreement. The Company will reimburse the Executive for reasonable legal fees incurred in connection with the negotiation and execution of this Agreement; provided however, that such
reimbursement will not exceed $5,000. 
  
 17. Tax
Withholding. All payments made and benefits provided pursuant to this Agreement will be subject to withholding of all applicable income and employment taxes. 
  
 18. Governing Law. The Executive and the Company agree that this Agreement will be interpreted in accordance with and
governed by the laws of the State of California without regard to the conflicts of laws thereof or of any other jurisdiction. The Executive and the Company hereby expressly consent to the personal jurisdiction of the state and federal courts located
in California for any action or proceeding arising from or relating to this Agreement or relating to any arbitration in which the parties are participants. 
  
 19. Successors and Assigns. This Agreement will inure to the benefit of and be binding upon the Company and its successors and assigns. In view of
the personal nature of the services to be performed under this Agreement by the Executive, he will not have the right to assign or transfer any of his rights, obligations or benefits under this Agreement, except as otherwise noted herein.

 20. Entire Agreement. This Agreement, together with the ICP and any equity grant agreements,
constitutes the entire agreement with respect to Executive’s employment relationship with the Company and supersedes all prior agreements, oral or written, with respect to the Executive’s employment relationship with the Company.

  
 21. Validity. If any one or more of the provisions (or
any part thereof) of this Agreement will be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions (or any part thereof) will not in any way be affected or impaired thereby.

  
 22. Modification. This Agreement may only be modified,
amended, canceled or discharged in writing signed by the Executive and the Company’s Chairman of the Board or a member of the Compensation Committee. 
  
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year written below. 
  

			
	BORLAND SOFTWARE CORPORATION
		
	By:	 	 /s/ William K. Hooper

	Name:	 	William K. Hooper
	Title:	 	Chairman of the Board
	
	EXECUTIVE
	
	 /s/ Tod Nielsen

	Tod Nielsen
	
	  

	Date

  
 [SIGNATURE
PAGE TO TOD NEILSEN EMPLOYMENT AGREEMENT] 

 Attachment A 
  
 FORM OF RELEASE AGREEMENT 
  
 I (the “Employee”) understand that my employment with Borland Software Corporation (“Borland”), collectively referred to as
(the “Parties”) terminated effective _____________________, ____ (the “Separation Date”). Borland has agreed that if I choose to sign this Release of Claims (“Release”), Borland will pay me certain severance
benefits (minus standard withholdings and deductions) pursuant to the terms of the Employment Agreement between myself and Borland, dated ________ (the “Agreement”). I understand that I am not entitled to such benefits unless I sign
this Release and it becomes fully effective. I understand that, regardless of whether I sign this Release, Borland will pay me all of my accrued salary and vacation through the Separation Date, to which I am entitled by law. 
  
 Employee agrees that the foregoing consideration represents settlement in
full of all outstanding obligations owed to Employee by the Company. Employee and the Company, on behalf of themselves, and their respective heirs, family members, executors, officers, directors, employees, investors, shareholders, administrators,
affiliates, divisions, subsidiaries, predecessor and successor corporations, and assigns, hereby fully and forever release each other and their respective heirs, family members, executors, officers, directors, employees, investors, shareholders,
administrators, affiliates, divisions, subsidiaries, predecessor and successor corporations, and assigns, from, and agree not to sue concerning, any claim, duty, obligation or cause of action relating to any matters of any kind, whether presently
known or unknown, suspected or unsuspected, that any of them may possess arising from any omissions, acts or facts that have occurred up until and including the effective date of this Agreement. This general release includes, but is not limited to:
(1) all claims arising out of or in any way related to my employment with Borland or the termination of that employment or the services I provided to Borland; (2) all claims related to my compensation or benefits from Borland, including
salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock options, restricted stock awards, other equity compensation or any other ownership interests in Borland; (3) all claims for breach of
contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (5) all
federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities
Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), and the California Fair Employment and Housing Act (as amended). Notwithstanding anything contained in this Release, nothing herein shall release
the Parties’ rights under this Release and my right (if any) to indemnification granted by any act or agreement of Borland, state or federal law or policy of insurance or any claims for severance benefits under the Agreement. 
  
 The Parties represent that they are not aware of any claim by either of them
other than the claims that are released by this Agreement. Employee and the Company acknowledge that they have been advised by legal counsel and are familiar with the provisions of California Civil Code Section 1542, which provides as follows:
A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the
debtor. 
  
 Employee and the Company, being aware of said code
section, agree to expressly waive any rights they may have thereunder, as well as under any other statute or common law principles of similar effect. 
  
 I understand this Release will not be effective until the ADEA Effective Date, defined below. I acknowledge that I am knowingly and voluntarily waiving
and releasing any rights I may have under the ADEA. I also acknowledge that the consideration given for the waiver in the above paragraph is in addition to anything of value to which I was already entitled. I have been advised by this writing, as
required by the ADEA that: (a) my waiver and release does not apply to any claims that may arise after my signing of this Release; (b) I should consult with an attorney prior to signing this Release; (c) I have twenty-one
(21) days within which to consider this Release (although I may choose to voluntarily sign this Release earlier); (d) I have seven (7) days after I sign this Release to revoke it; and (e) this Release will not be effective until
the eighth day after this Release has been signed by me (the “ADEA Effective Date”). 
  
 I accept and agree to the terms and conditions stated above: 
  

					
	  

	[Name]	 	 	 	Date
	
	 BORLAND SOFTWARE CORPORATION

	By:	 	 	 	 
	  

	[Name]	 	 	 	Date

 FORM OF EMPLOYEE CONFIDENTIALITY AND 
 ASSIGNMENT OF INVENTIONS AGREEMENT 
  
 

 
  
 You are being hired and paid to perform services
as an employee of Borland Software Corporation (“Borland”) in a capacity in which you may have access to, or contribute to, the production of highly sensitive and valuable information and material. This information and material has been
developed or obtained by Borland by the investment of significant time, effort, and expense, and provides Borland with a significant competitive advantage in its business. Borland’s relationship with its employees is based on trust, and each
individual who works for Borland is expected to maintain a high degree of loyalty to Borland and professionalism in carrying out their responsibilities for the company. We are in a highly competitive business and we want to succeed by the rules,
“fair and square.” For these reasons, we ask that you carefully read, initial where indicated, sign, and adhere to the following agreement: 
  
 1. Please read the attached definition of “Borland Confidential Information” in Exhibit A. 
  
 In consideration for your employment and the compensation to be paid to you for your
services, you agree to keep Borland Confidential Information in strict confidence during the term of your employment and for three (3) years after such term of employment.
             (initial) 
  
 This means that you agree not to reveal, report, publish, disclose, transfer or use, directly or indirectly, for any purposes whatsoever, any Borland Confidential Information, except in the course of your work for
Borland. This obligation of confidentiality commences on your first day of employment and continues for three years after your employment with Borland has ended. 
  
 2. Borland is interested in employing you because of your skills and abilities — not because of any trade secrets or confidential
information you may have learned elsewhere. Thus, it is Borland’s policy to avoid situations where information or materials might come into our hands that are considered proprietary by individuals or companies other than Borland. It is
important that you take care not to bring, even inadvertently, any books, drawings, notes, materials, etc., except your own personal effects, that you may have in your possession relating to any of your former employers. 
  
 You agree not to disclose to Borland any confidential or proprietary information belonging
to any previous employer or others.              (initial) 
  
 3. If you know of any obligations or information that may conflict with your work for Borland, let us know. 
  
 You agree to inform Borland of any apparent conflict between your work for Borland and
(i) any obligations you may have to preserve the confidentiality of another’s proprietary information or materials, (ii) any rights you claim to any patent, copyrights, trade secrets, or other inventions or ideas, or (iii) any
patent, copyrights, trade secrets, inventions or ideas of any person or company not connected with Borland before performing that work.              (initial) 

 
 Without such notice, Borland may conclude that no such conflict exists. To the extent the
conflict relates to your personal rights and you fail to notify Borland thereof, you agree thereafter to make no claim against Borland with respect thereto. Borland shall receive all such disclosures in confidence. 
  
 4. Borland Confidential Information, and whatever you create while working at Borland,
including all ideas, procedures, processes, designs, inventions, discoveries, technologies, know-how, show-how, documents and works of authorship, is owned by Borland. In part, that is what we’re paying you for. 

 You agree that, upon creation, all right, title, and interest in any such developments, including Borland Confidential
Information, is and shall remain the exclusive property of Borland. To the extent that it is required to ensure compliance with the foregoing sentence, you assign all right title and interest in and to any patents, copyrights, or trademarks or other
intellectual property rights in any such developments to Borland. An assignment of copyright hereunder shall include, but is not limited to, all rights of paternity, integrity, disclosure and withdrawal that may be known as or referred to as
“moral rights” (collectively “Moral Rights”). To the extent such Moral Rights cannot be assigned under applicable law and to the extent the following is allowed by the laws in the various countries where Moral Rights exist, I
hereby waive such Moral Rights and consent to any action of the Company that would violate such Moral Rights in the absence of such consent. I will confirm any such waivers and consents from time to time as requested by Borland. Any copyrightable
material created as a result of any work you do for Borland during the term of your employment shall be considered a “work made for hire” of Borland under the U.S. Copyright Act, 17 U.S.C. 101. You agree that you will sign any papers
necessary with respect to patents, copyrights, or trademarks to confirm and protect the interest of Borland in such developments and Confidential Information. Further you agree not to file for or obtain in your name any patent, copyright or
trademark registration covering any developments made during your employment with Borland, unless Borland approves such filing in writing in advance. You hereby irrevocably transfer all ownership of such developments (including any and all patent
rights, copyrights, trade secret rights, and other proprietary rights therein) to Borland. You agree immediately to disclose to Borland all protectable developments, including Borland Confidential Information, developed in whole or in part by you
during the term of your employment with Borland. If Borland is unable for any reason whatsoever, including your mental or physical incapacity, to secure your signature on a document to apply for or pursue patent, trademark or copyright registrations
or any document transferring ownership thereof, resulting from your work for Borland, you hereby irrevocably designate and appoint Borland and its duly authorized officers and agents, as your agents and attorneys-in-fact to act for and in behalf of
you, and instead of you, to execute and file any documents and to do all other lawful acts to further the above purposes with the same legal force and effect as if executed by you. This appointment is coupled with an interest in and to the relevant
inventions and works of authorship and shall survive your death or disability.              (initial) 
  
 5. But we do not own everything you do while you are employed by Borland. The foregoing shall not apply to any invention, work of
authorship, protectable development or other thing or idea whatsoever for which no equipment, supplies, facilities, or Borland Confidential Information was used, which was developed entirely on your own time, and which does not in any material way
(i) relate to the business of Borland, (ii) relate to Borland’s actual or demonstrable anticipated research or development, or (iii) result from any work performed by you for Borland. This confirms that we recognize your rights
under Section 2870 of the California Labor Code (or similar rights if you work for us in another state). 
  
 You agree that you have provided a complete list in Exhibit B of all patents, patent applications or inventions that you believe to be patentable and which are owned by you or by others, conceived or made by you
prior to your employment by Borland or during your employment with Borland which meet the criteria set forth in the preceding paragraph. With respect to patent applications or inventions of others that you are required to maintain in confidence, the
listing should be general, e.g., by title, so that no confidential information of others is disclosed to Borland. If no such list is attached in Exhibit B, you represent that you have not made, conceived or reduced to practice any such patent rights
or patentable ideas, and you agree that Borland shall have a royalty-free license under such inventions and related patents or other rights to make, use and sell any product covered thereby.
             (initial) 

 6. You and Borland’s other employees are extremely important to us. Because of the nature of our business and the
intangible nature of our trade secrets, it is necessary to afford Borland fair protection from the loss of our employees. 
  
 You agree, for a period ending one (1) year after the termination of your employment with Borland, not to solicit, or attempt to solicit, directly or indirectly,
any individual who is an employee of Borland, whether for or on behalf of you or for any entity in which you have a direct or indirect interest whether as a proprietor, partner, stockholder, employee, agent, representative, or otherwise.
            (initial) 
  
 7. Should you leave Borland, we would expect you, and any future employer of yours, to demonstrate the same professionalism that we now expect from you and our own employees and we also agree to demonstrate a high
degree of professionalism. 
  
 You agree, upon the termination of your
employment with Borland, to turn over to Borland all notes, data, diskettes, tapes, reference items, sketches, drawings, memoranda, records, and other materials in your possession or control which in any way relate to any of the Borland Confidential
Information, and not to make any further use of such material.              (initial) 
  
 8. In view of the fact that the principal office of Borland is located in the State of California, it is understood and agreed that the construction and interpretation of
this agreement shall at all times and in all respects be governed by the substantive laws of the State of California without regard to conflicts or choice of law rules thereof or of any other jurisdiction. Nothing contained in this Agreement shall
restrict the right of Borland to terminate your employment or position at any time, with or without notice and with or without cause. By your execution of this Agreement you acknowledge and agree that your employment is “at will.” The term
“at will” means that both you and Borland have the right to terminate employment any time with or without advanced notice, and with or without cause. This “at will” employment relationship can be varied only in a writing that is
signed by the Senior Vice President of Corporate Services, or a similarly situated executive, of Borland. From time to time it may be necessary to have you execute documents confirming Borland’s ownership of the results of your work for Borland
and you agree to execute such documents as Borland may request from time to time whether during your employment or thereafter. 
  
 You agree that the breach or alleged breach by Borland of (i) any term or condition contained in another agreement (if any) between you and Borland or
(ii) any obligation owed to you by Borland, shall not affect the validity or enforceability of the terms of this Agreement. This Agreement, together with any accepted offer letter for your employment and any other agreements referred to
therein, constitutes the full and complete understanding between you and Borland with respect to the subject matter hereof and supersedes all prior and contemporaneous representations and understandings, whether written or oral, relating to the
subject matter hereof, all of which are hereby cancelled to the extent they are not specifically merged into this Agreement. There are no other promises, agreements, or representations, oral or written, relating to the subject matter hereof, upon
which you have relied in entering into employment with Borland.              (initial) 
  
 I have carefully read and considered the provisions of this agreement. I understand and acknowledge that the terms and conditions set forth herein are fair and appear
reasonably required for the protection of Borland and its business.              (initial) 

 I acknowledge receipt of a copy of this agreement. 
  

	
	
 Print Name

	  

 Date
Signed

	  

 Signature

	  

 Social Security
Number

	  

 Mailing
Address

	  

 City, State and Zip
Code

 Exhibit A 
 Definition of Borland Confidential Information 
  
 For purposes of this Confidentiality Agreement, “Borland Confidential Information” shall mean and include the following types of information (whether or not reduced to writing or placed in any tangible medium of expression, and
whether or not patentable or protectable by copyright) owned or developed by Borland: 
  

	•	 	information or material proprietary to Borland or treated as confidential by Borland and not generally known by non-Borland personnel, which you develop or which you may obtain
knowledge of or access to, through or as a result of your relationship with Borland (including information conceived, originated, discovered, or developed in whole or in part by you); 

  

	•	 	discoveries, ideas, inventions, concepts, software in various stages of development, source code, object code, designs, drawings, specifications, techniques, models, data,
documentation, diagrams, flow charts, research, development, processes, procedures, “know-how;” 

  

	•	 	marketing techniques and materials, marketing and development plans; 

  

	•	 	product development and distribution; plans for future development and distribution; 

  

	•	 	operational methods, technical processes and other business affairs and methods; 

  

	•	 	customer names, licensing and royalty arrangements, and other information related to customers; 

  

	•	 	price lists, pricing policies, profits, sales, financial information; 

  

	•	 	and employee information. 

  
 Borland Confidential Information also includes any information or materials obtained by Borland from third parties in confidence (or subject to nondisclosure or similar agreements), whether or not owned or developed
by Borland. 
  
 Failure to mark any of the Borland Confidential Information as
confidential or proprietary shall not affect its status as being part of the Borland Confidential Information. Information that is publicly known or generally employed by the trade at or after the time you first learn of such information, or generic
information or knowledge which you would have learned in the course of similar employment or work elsewhere in the trade, shall not be deemed part of the Borland Confidential Information. 

 Exhibit B 
 List of Prior Patents and InventionsLease Agreement, dated October 18, 2005

 Exhibit 10.20 
 OFFICE LEASE AGREEMENT 
  
 LANDLORD: MILLER STAUFFER PROPERTIES, L.L.C. 
  
 TENANT: NIGHTHAWK RADIOLOGY SERVICES, LLC 
  
 DATE: October 18, 2005 

 TABLE OF CONTENTS 
  

									
	 	 	 	 	 	  	 	  	Page

	 1.
	 	DEVELOPMENT OF PROJECT; CONSTRUCTION SCHEDULE	  	1
	 2.
	 	LEASE OF PREMISES; EXPANSION; PARKING	  	3
	 	 	2.1	 	Initial Premises	  	3
	 	 	2.2	 	Right of First Refusal to Acquire Additional Space	  	3
	 	 	2.3	 	Parking	  	4
	 3.
	 	TERM OF LEASE; OPTIONS TO EXTEND	  	4
	 	 	3.1	 	Original Term	  	4
	 	 	3.2	 	Options to Extend Term	  	4
	 	 	3.3	 	Holdover Period	  	5
	 4.
	 	RENT; SECURITY DEPOSIT	  	5
	 	 	4.1	 	Minimum Monthly Rent	  	5
	 	 	4.2	 	Triple Net Lease	  	6
	 	 	4.3	 	Security Deposit	  	6
	 5.
	 	OWNERS ASSOCIATION; RULES AND REGULATIONS; ASSESSMENT LIABILITY	  	7
	 6.
	 	USE OF PREMISES	  	7
	 7.
	 	REAL PROPERTY TAXES AND ASSESSMENTS	  	7
	 8.
	 	MAINTENANCE; UTILITIES	  	7
	 	 	8.1	 	Landlord’s Maintenance	  	7
	 	 	8.2	 	Tenant’s Maintenance	  	7
	 	 	8.3	 	Landlord’s Maintenance on Behalf of Tenant	  	8
	 	 	8.4	 	Utilities	  	8
	 9.
	 	ALTERATIONS AND IMPROVEMENTS	  	8
	 	 	9.1	 	Tenant’s Alterations and Improvements	  	8
	 	 	9.2	 	Mechanic’s Liens	  	9
	 	 	9.3	 	Building Structure	  	9
	 10.
	 	EXCULPATION AND INDEMNITY OF LANDLORD	  	9
	 	 	10.1	 	Exculpation	  	9
	 	 	10.2	 	Indemnity	  	9
	 11.
	 	INSURANCE REQUIREMENTS	  	9
	 	 	11.1	 	Types of Insurance	  	9
	 	 	 	 	(a)	  	Damage to Building	  	9
	 	 	 	 	(b)	  	Tenant’s Insurance	  	10
	 	 	11.2	 	Waiver of Subrogation	  	10
	 12.
	 	DAMAGE AND RESTORATION	  	10
	 13.
	 	CONDEMNATION	  	10
	 14.
	 	ASSIGNMENT/SUBORDINATION	  	11
	 	 	14.1	 	Voluntary Assignment, Subletting, and Encumbering by Tenant	  	11
	 	 	14.2	 	Involuntary Assignment by Tenant	  	11
	 	 	14.3	 	Assignment by Landlord	  	12
	 	 	14.4	 	Subordination of Lease	  	12
	 15.
	 	TENANT’S DEFAULT	  	12
	 16.
	 	LANDLORD’S REMEDIES	  	13

									
	 	 	16.1	 	Continuation of Lease	  	 	  	13
	 	 	16.2	 	Termination of Lease	  	13
	 	 	16.3	 	Landlord’s Cure of Tenant’s Default	  	14
	17.	 	LANDLORD’S RIGHT OF ENTRY	  	14
	18.	 	SURRENDER OF PREMISES	  	14
	19.	 	ESTOPPEL CERTIFICATES	  	14
	20.	 	SIGNS	  	15
	21.	 	APPRAISAL PROCEDURES	  	15
	22.	 	MISCELLANEOUS AND PROCEDURAL	  	16
	 	 	22.1	 	Time of Essence	  	16
	 	 	22.2	 	Attorney’s Fees	  	16
	 	 	22.3	 	Binding Effect	  	16
	 	 	22.4	 	Integrated Agreement; Modification	  	16
	 	 	22.5	 	Waiver	  	16
	 	 	22.6	 	Notice	  	16
		
	EXHIBIT A:    SITE PLAN, PARKSIDE CONDOMINIUM	  	 
	EXHIBIT B:    FLOOR PLAN SPECIFICATIONS FOR PREMISES	  	 

 OFFICE LEASE AGREEMENT 
  
 THIS OFFICE LEASE AGREEMENT (“Lease”) is made and effective this 18th day of October 2005, by and
between MILLER STAUFFER PROPERTIES, L.L.C., an Idaho limited liability company (“Landlord”); and NIGHTHAWK RADIOLOGY SERVICES, LLC, an Idaho limited liability company (“Tenant”), with reference to the following
facts: 
  
 A. Landlord is developing a residential/commercial
building project located on 6th and Front Streets in the City of Coeur d’Alene, County of Kootenai, State of
Idaho, to be known as “Parkside” (the “Project”). The Project, which is to be structured in a condominium regime form of ownership, consists of a multi-story building (the “Building”), parking areas, landscaped areas,
and other exterior improvements, and is being developed on the land more particularly described as follows: 
  
 Lots 7 through 12, Block 35, City of Coeur d’Alene, in a portion of the South Half of Section 13, Township 50 North, Range 4 West, Boise
Meridian, in the City of Coeur d’Alene, Kootenai County, Idaho. 
  
 B. Tenant is interested in leasing from Landlord approximately 12,210 square feet of completed office space on the fourth floor, and approximately 5,000 square feet of completed office space on the fifth floor of the Building (the
“Premises”), and in acquiring expansion rights to additional space on the third floor of the building pursuant to a right of first refusal. Copies of the Site Plan for the Building (the “Site Plan”) and the Floor Plan
Specifications for the Premises to be leased initially (the “Floor Plan”) are attached hereto as Exhibits “A” and “B”, respectively. Tenant’s occupancy of the Premises shall be for the rent and term, and subject to
the terms set forth in this Lease. 
  
 NOW, THEREFORE, Landlord
and Tenant agree as follows: 
  
 1. DEVELOPMENT OF PROJECT;
CONSTRUCTION SCHEDULE. Landlord is currently engaged in the process of developing the Project, which shall be constructed substantially according to the Site Plan and of a quality consistent with the McEuen Terrace condominium located to the
east of the Project. By signing this Lease, the Tenant acknowledges that it has reviewed and approved the Site Plan for the Project and the Floor Plan for the Premises. 
  
 Within ninety (90) days from the date of this Lease, the Landlord shall, with the Tenant’s input, complete and
deliver to the Tenant proposed plans and specifications for the completion of the interior space of the Premises (collectively the “Premises Plans”). As soon as reasonably possible thereafter, the parties shall meet to discuss the Premises
Plans and negotiate any necessary additions and/or revisions to their mutual satisfaction. The parties shall negotiate the final Premises Plans in good faith and with due diligence. However, if the parties are not able to agree upon and initial the
final Premises Plans within sixty (60) days following delivery of the original proposed Premises Plans to the Tenant, then either party shall have the right to terminate 

 
this Lease upon written notice to the other. If so terminated, Tenant shall be entitled to the return of any deposit previously made, and neither party shall
have any further rights or obligations under this Lease. 
  
 In
addition to the foregoing, and not withstanding anything to the contrary set forth herein, if the Landlord has not been able to make sufficient progress on the Project (which progress shall include the breaking of ground on the Building and the
demolition of the building currently occupied by the Social Security Administration) on or prior to January 1, 2006, then Tenant shall have the right to terminate this Lease upon written notice to the Landlord. If so terminated, Tenant shall be
entitled to the return of any deposit previously made, and neither party shall have any further rights or obligations under this Lease. 
  
 Landlord shall provide the Tenant with not less than sixty (60) days notice of the date on which the Premises are expected to be available for
occupancy by the Tenant and the commencement of Tenant’s business. Twenty (20) days prior to such projected date, the Premises shall be available to the Tenant and its contractors for the installation of specialized wiring and equipment
for Tenant’s computer and information systems. The Tenant shall also be provided reasonable access at such time for the installation of other Tenant improvements, so long as the Tenant’s access does not unreasonably interfere with the
completion of the Landlord’s work. 
  
 Landlord shall use its
best efforts and due diligence to comply with the following construction schedule: 
  

			
	 July 15, 2007
	  	All siding, windows, and roofing shall be installed, and the Building shall otherwise be weather-tight
		
	 Aug 15, 2007
	  	All heating, ventilating, mechanical, and electrical systems shall be installed, except trim out to follow
		
	 Oct 15, 2007
	  	Non-binding target date for substantial completion of the Premises and paving of Tenant’s parking area
		
	 December 15, 2007
	  	The Premises shall be substantially complete and in accordance with the Premises Plans and legally available for exclusive occupancy by the Tenant. This shall include paving of the
Tenant’s parking area, but not other exterior elements.
		
	 December 15, 2007
	  	Completion of all planters, landscaping and other exterior elements

  
 In the event either of
the first two (2) dates (weather-tight, HVAC, and electrical)are not met, then either party shall have the right to terminate this Lease upon written notice to the other, which notice shall be delivered, if at all, prior to the completion of
the work described. If so terminated, Tenant shall be entitled to the return of any deposit previously made, and neither party shall have any further rights or obligations under this Lease. If the Premises are not 

  

 2 

 
substantially complete in accordance with the Premises Plans and ready for occupancy on the fourth date (December 15, 2007), then such date shall be extended
automatically for thirty (30) days, with the Landlord paying to the Tenant, as Tenant’s sole and exclusive remedy for the Landlord’s late delivery of the Premises, the sum of $1,000 per day for each day of delay in making the Premises
available. 
  
 In the event the Premises are still not
substantially complete in accordance with the Premises Plans and ready for occupancy at the end of the thirty (30) day extension (i.e., by January 15, 2008), then either party shall have the right to terminate this Lease upon written
notice to the other, which notice shall be delivered, if at all, prior to the substantial completion of construction and the delivery of the Premises to the Tenant. If so terminated, Tenant shall be entitled to the return of any deposit previously
made, and shall be entitled to receive and retain the payments for late delivery due from Landlord pursuant to the preceding paragraph, and neither party shall have any further rights or obligations under this Lease. 
  
 2. LEASE OF PREMISES; EXPANSION; PARKING. 
  
 2.1 Initial Premises. Landlord hereby leases the
Premises to Tenant, and Tenant hereby leases the Premises from Landlord, for the rent and term, and subject to the terms set forth in this Lease. As a condition precedent to Tenant’s obligations under this Lease, Landlord hereby agrees to
develop the Project and prepare the Premises for occupancy in accordance with and subject to the provisions of Paragraph 1, above. 
  
 2.2 Right of First Refusal to Acquire Additional Space. Landlord hereby grants to Tenant a right of first refusal to expand the
Premises to include space on the third floor of the Building. Such right may be exercised at any time after expiration of the first year of the term of this Lease, and prior to the final five (5) years of the term of this Lease, including any
extensions thereof. If Landlord determines to lease any part of the third floor (the “Additional Space”), and regardless of the existence of any actual offer from or agreement with a third party, Landlord shall deliver to Tenant a written
notice (the “Refusal Notice”) setting forth the terms upon which Landlord would be willing to lease the Additional Space (including a copy of any bona fide offer to lease upon which Landlord’s decision may be based). If Tenant, within
twenty (20) days after delivery of the Refusal Notice, shall deliver written notice to Landlord of Tenant’s election to lease the Additional Space (the “Exercise Notice”), on the terms stated in the Refusal Notice, then Landlord
shall lease the Additional Space to Tenant on the terms stated in the Refusal Notice. If Tenant does not deliver such Exercise Notice within the twenty (20) day period, Landlord shall thereafter have the right to lease the Additional Space to a
third party on the same terms stated in the Refusal Notice (with the right, however, to negotiate rent to an amount not less than 95% of the rent set forth in the Refusal Notice). If the Landlord does not lease the Additional Space to a third party
within six (6) months after the original delivery of the Refusal Notice to Tenant, any further transaction shall be deemed a new determination by Landlord to lease the Additional Space, and the provisions of this subparagraph shall again be
applicable. 
  

 3 

 With respect to the tenant improvements, if the Additional Space is to be finished by the
Landlord under the Refusal Notice, such Additional Space shall be finished at no additional cost to Tenant in a manner and style substantially equivalent to the initial Premises (which manner and style is referred to as the “Initial Improvement
Standard”), and Tenant shall be responsible for any desired modifications or further improvements to the Additional Space beyond the Initial Improvement Standard. If the Additional Space is not to be finished by the Landlord under the Refusal
Notice, then Landlord shall provide the Tenant with an allowance for tenant improvements in the amount of Thirty Five Dollars ($35.00) per square foot included within the Additional Space, with Tenant paying any additional costs. 
  
 Notwithstanding anything to the contrary set forth or
implied in this subparagraph, if Tenant is substantially in default under this Lease on the date of giving the Exercise Notice, or if Tenant shall not have substantially and timely complied with the terms of the Lease up to such time, the Exercise
Notice shall be ineffective, and the Additional Space shall not be available to the Tenant. 
  
 2.3 Parking. The Tenant and Tenant’s invitees shall have the exclusive right at no additional cost or expense to the use of
thirty-nine (39) parking spaces in the parking garage and five (5) exterior parking spaces on the plaza level parking lot, with the exclusive rights to the exterior spaces being limited to business hours (defined below). After business
hours, the parking spaces may be used by Tenant and Tenant’s invitees on a non-exclusive basis. 
  
 References in this Paragraph 2.3 to “normal business hours” shall mean from 7:00 a.m. to 6:00 p.m. daily, excepting
Saturdays Sundays, and recognized state and/or federal holidays). 
  
 3. TERM OF LEASE; OPTIONS TO EXTEND. 
  
 3.1 Original Term. The original term of this Lease shall commence on the earlier of: (a) 60 days following written notice from Landlord to the Tenant that the Premises will be available for occupancy within such time (but only
if the Premises are available at such time); or (b) the date on which Tenant actually occupies the Premises (“commencement date”), and shall continue for ten (10) years from the first day of the first full calendar month
following the commencement date. For purposes of establishing the actual occupancy date, the early access allowed to Tenant and its contractors for the installation of Tenant’s equipment, pursuant to Paragraph 1, above, shall not be counted.

  
 3.2 Options to Extend Term. Tenant is
hereby granted the exclusive option to extend the term on all the provisions set forth in this Lease, except for the minimum monthly rent, for one or both of two (2) additional five (5) year periods (the “extended term”)
following expiration of the original term, by giving notice of exercise of the option (“Extension Notice”) to Landlord at least six (6) months before expiration of the then current term. Provided, however, that if Tenant is
substantially in default on the date of giving the Extension Notice, the Extension Notice shall be ineffective, the extended 

  

 4 

 term shall not commence, and this Lease shall expire at the end of the then current term. The minimum
rent during the first year of any such extended term shall be the fair market rent for similar space in the community at the time (but not less than the rent for the immediately preceding term), with such rent being increased annually thereafter at
the rate of two percent (2%), compounded, until the expiration of such extended term. If the parties are not able to agree on the minimum rent to be charged at the commencement of any extended term, within thirty (30) days following the
delivery of the Extension Notice, then such minimum rent shall be established by appraisal according to Paragraph 22, below. 
  
 3.3 Holdover Period. If Tenant, with Landlord’s consent, remains in possession of the Premises after expiration or termination
of the term, including any extended term, or after the date in any notice given by Landlord to Tenant terminating this Lease, such possession by Tenant shall be deemed to be a month-to-month tenancy terminable by either party on giving the notice
required by law for termination of commercial month-to-month tenancies. All provisions of this Lease except those pertaining to term and rent (which shall be negotiated in connection with the granting of consent) shall apply to the month-to-month
tenancy. 
  
 4. RENT; SECURITY DEPOSIT. Tenant’s basic
rental obligation shall consist of the minimum monthly rent described below. Additionally, Tenant’s rental obligation shall include any costs to be paid by Tenant under this Lease in connection with Tenant’s occupancy of the Premises
(e.g., utility costs, taxes, reimbursement for expenses, etc.), and all costs incurred by Landlord to cure any default by Tenant. 
  
 4.1 Minimum Monthly Rent. Tenant shall pay to Landlord as a minimum monthly rent, without deduction, set-off, prior notice or
demand, the following monthly amounts (with the first lease year to include any partial month at the beginning of the term, with rent being prorated for any such partial month): 
  

			
	Lease Year	 	Minimum Monthly Rent
	Year 1	 	$27,157.08
	Year 2	 	$27,157.08
	Year 3	 	$27,700.22
	Year 4	 	$28,254.23
	Year 5	 	$28,819.31
	Year 6	 	$29,395.70
	Year 7	 	$29,983.61
	Year 8	 	$30,583.28
	Year 9	 	$31,194.95
	Year 10	 	$31,818.85

  
 The
above rental amounts have been calculated based on $18.50 per square foot per year for 12,210 square feet for the portion of the Premises being on the fourth floor, and $20.00 per square foot per year for 5,000 square feet for the portion of the
Premises being on the fifth floor, and then by applying a two percent (2%) annual increase after the 

  

 5 

 
second lease year. Minimum rent for any Additional Space acquired under Paragraph 2.2 above, and/or for any extended term acquired under Paragraph 3.2
above, shall be determined according to that Paragraph. 
  
 The minimum monthly rent shall be paid in advance on or before the first day of each calendar month, beginning on the commencement date and continuing during the term. If the term commences on a date other than the
first day of a calendar month, the first rental payment shall be due on the commencement date and shall include rent for the first full calendar month, plus prorated rent for the first partial calendar month. All rent shall be paid to Landlord in
lawful money of the United States, at such address as may be designated by Landlord from time to time. 
  
 4.2 Triple Net Lease. This Lease is intended to be a “triple-net” Lease, with Tenant paying all costs directly associated
with its occupancy of the Premises, and a portion of expenses associated with the operation of the Building as a whole, all as provided in this Lease. In addition to the minimum monthly rent described above, Tenant shall pay all taxes, insurance
premiums, utility charges, and operation, maintenance, and repair expenses attributable to the maintenance of the interior of the Premises, either directly to the billing entity or by reimbursement to the Landlord, and shall also pay all assessments
levied by the condominium association to be established in connection with the formation of the Project as a condominium regime (the “Association”) as provided in this Lease. In no event shall Tenant be required to reimburse Landlord for
any expenditure relating to the improvements of the Building which would be capitalized under generally accepted accounting principles. 
  
 4.3 Security Deposit. On or before September 15, 2006, Tenant shall deposit into a joint interest-bearing account, requiring
signature on behalf of both the Landlord and the Tenant for withdrawal, the sum of $27,000, as a security deposit for the performance by Tenant of the provisions of this Lease. At the end of the second year of the Lease term, $1,000 shall be
remitted to and deposited with the Landlord, and the balance of the account (including accrued interest) shall be disbursed to the Tenant. The amount deposited with the Landlord shall continue as a security deposit for the performance by Tenant of
the provisions of this Lease. If Tenant is in default, Landlord shall have the right, but no obligation, to use the security deposit, or any portion of it, to cure the default or to compensate Landlord for all damage sustained by Landlord resulting
from Tenant’s default. Tenant shall immediately, on demand, pay to Landlord a sum equal to the portion of the security deposit expended or applied by Landlord as provided in this Paragraph so as to maintain the security deposit in the sum
initially deposited with Landlord. If Tenant is not in default at the expiration or termination of this Lease, Landlord shall return the remaining security deposit to Tenant. Landlord’s obligations with respect to the security deposit are those
of a debtor and not a trustee. Landlord shall have the right to maintain the $1,000 security deposit separate and apart from Landlord’s general funds, or to commingle the $1,000 security deposit with Landlord’s general and other funds.
Landlord shall not be required to pay Tenant interest on the $1,000 security deposit deposited with the Landlord after the first two years of the term. 
  

 6 

 5. OWNERS ASSOCIATION; RULES AND REGULATIONS; ASSESSMENT LIABILITY. Tenant acknowledges that the
Premises are currently planned to be part of a residential and commercial condominium project, to be managed by a non-profit owners association (the “Association”), which will have many powers and responsibilities with respect to the
entire Project, including the power to levy assessments against all units in the Building. Tenant acknowledges that Landlord shall retain all voting and other rights of membership in the Association with respect to the Premises. The parties
understand and agree that the Tenant shall not be required to deal with the Association, except for the obligation to pay assessments as provided herein and to comply with reasonable Rules and Regulations governing the Project. Landlord agrees that
it will not exercise any of its voting power (with respect to all units owned by the Landlord) to approve, adopt, or amend any Rules and Regulations without the Tenant’s prior approval, which shall not be unreasonably withheld. Landlord also
represents and warrants that no Rule or Regulation shall be enacted by the Association that would unreasonably interfere with the Tenant’s operation of its business. 
  
 6. USE OF PREMISES. Tenant shall use the Premises for the operation of its business (consistent with the business as
it is conducted as of the date of this Lease), and any other lawful use, and for no other use without Landlord’s prior written consent, which shall not be unreasonably withheld. 
  
 7. REAL PROPERTY TAXES AND ASSESSMENTS. Tenant shall pay all real property taxes and general and special assessments
levied and assessed against the Premises during the term (prorated to the commencement and expiration dates), with payment being made at least ten (10) days prior to the due date. To the extent the Landlord must pay taxes against the Premises
because of the Tenant’s non-payment, the Tenant shall reimburse the appropriate amount to the Landlord immediately, together with a 15% administrative charge. If such reimbursement shall not be made within thirty (30) days of written
demand therefor, then such cost and the administrative charge shall thereafter bear interest at the rate of twelve percent (12%) per annum from the due date until paid. 
  
 8. MAINTENANCE; UTILITIES. 
  

8.1 Landlord’s Maintenance. Except as specifically provided elsewhere in this Lease, and subject to the Tenant’s
payment and reimbursement obligations as set forth herein, Landlord shall maintain or cause to be maintained, in good condition, the roof, foundation, landscaping, parking areas (including snow removal), exterior elements (including, but not limited
to, exterior windows and siding), all utilities, pipes, ducts, elevators, heating, ventilation and air conditioning systems serving the Project and the Premises and all structural parts of the Project. Landlord shall be responsible for the repair of
any water leaks affecting the Premises except if caused by tenant or invitees. 
  
 8.2 Tenant’s Maintenance. Tenant, at its cost, shall maintain, in good condition, all interior portions of the Premises not to
be maintained or caused to be maintained by Landlord under this Lease, including without limitation, the interior of the Premises and all Tenant’s personal property and equipment, fixtures, interior finishes, 

  

 7 

 and other tenant improvements, and also including the plumbing, heating, ventilating, air conditioning,
and utility systems that service only the Premises to the extent such systems are located within the Premises. Tenant shall also be responsible for its own janitorial services for the Premises, including the cleaning of interior glass surfaces.

  
 8.3 Landlord’s Maintenance on Behalf
of Tenant. If Landlord shall provide any maintenance of the Premises that is the responsibility of the Tenant, either by agreement of the parties or because of Tenant’s failure to provide such maintenance after reasonable notice, then
Tenant shall reimburse the actual cost thereof to the Landlord. If such reimbursement shall not be made within thirty (30) days of written demand therefor, then such cost shall thereafter bear interest at the rate of twelve percent
(12%) per annum from the due date until paid. 
  
 8.4 Utilities. Tenant shall pay all charges for reasonable utility services provided to the Premises (including without limitation, gas, power, telephone, and cable television). To the extent such services are separately metered or
otherwise billed directly to the Premises, the Tenant shall pay the bills therefor directly. If, however, utility charges are not separately metered or billed (such as water, sewer service, and garbage collection), but are charged to the Association
and assessed to the Landlord as the owner of the Premises, then such charges shall be part of the assessments to be paid to the Association by Tenant. If such reimbursement shall not be made within thirty (30) days of written demand therefor,
then such cost shall thereafter bear interest at the rate of twelve percent (12%) per annum from the due date until paid. If Tenant determines to install additional utility lines to service the Premises, then such lines shall be installed at
Tenant’s sole expense, and Landlord shall have no right to charge any “access” or other charge for the right of installation or otherwise to interfere with reasonable access to any service provider. However, the Tenant acknowledges
certain restrictions on construction imposed by the structure of the Building (See Paragraph 9.3, below). 
  
 9. ALTERATIONS AND IMPROVEMENTS. 
  
 9.1 Tenant’s Alterations and Improvements. Tenant shall not make any alterations to the Premises, without Landlord’s
prior written consent, unless the costs of such alterations made in any one Lease year are less than $25,000 on a cumulative basis, and do not impair or affect the structural integrity of the Premises or the Building (See Paragraph 9.3, below).
Except as provided in this Paragraph, any alterations made shall remain on and be surrendered with the Premises on expiration or termination of the term, except that Landlord may elect at any time prior to the expiration of the term, or within sixty
(60) days after termination of the term, to require Tenant to remove any alterations that Tenant has made to the Premises so long as Landlord has conditioned its approval of the alteration by Tenant upon the removal at the end of the term. If
Landlord so elects, Tenant, at its cost, shall remove the alterations and restore the Premises to the condition designated by Landlord in its election, before the last day of the term, or within sixty (60) days after notice of election is
given, whichever is later. Additionally, Tenant shall have the right to remove any tenant improvements that have been installed at the Tenant’s own cost. If Tenant so elects, Tenant, at its cost, shall remove the improvements and restore the
Premises to their condition prior to the installation of such improvements, before the last day of the term. 
  

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 9.2 Mechanic’s Liens. Tenant shall pay all costs for construction done by it,
or caused to be done by it, and for all materials furnished to it, or caused to be furnished to it, on the Premises as permitted by this Lease. Tenant shall keep the Premises and the Building (including Tenant’s leasehold interest) free and
clear from any liens arising out of construction done by or for Tenant or materials furnished to or for Tenant. 
  
 9.3 Building Structure. The Building structure utilizes post tension concrete floor slabs supported by cast-in-place concrete
columns. The Tenant therefore acknowledges the critical importance of there being no penetrations in the floor slabs, in the form of cutting or drilling for the purposes of utility installations or for any other reason, without the prior written
consent of the Landlord. Any damage (as by cutting or drilling) to any one of the many post tension tendons inside the concrete slabs could result in the failure of the structural slab. To the extent that the Tenant may drill anywhere other than as
approved by the Board or Architectural Committee for the Association, the Tenant shall be liable for all injuries and damages sustained as a result of such improper drilling, subject to the provisions of Section 10 below. 
  
 10. EXCULPATION AND INDEMNITY OF LANDLORD. 
  
 10.1 Exculpation. Landlord shall not be liable to
Tenant for any damage to Tenant or Tenant’s property from any cause, and Tenant waives all claims against Landlord for damage to person or property arising for any reason, except that Landlord shall be liable for damage resulting from the
affirmative acts, negligent acts, or failure to act, of Landlord or its authorized representatives. Tenant shall not be liable to Landlord for any damage to Landlord or Landlord’s property (including, without limitation the Building and
Premises) from any cause, and Landlord waives all claims against Tenant for damage to person or property arising for any reason, except that Tenant shall be liable for damage resulting from the affirmative acts, negligent acts, or failure to act, of
Tenant or its authorized representatives. 
  
 10.2 Indemnity. Tenant shall indemnify, defend and hold Landlord harmless from and against all claims and liabilities arising out of any bodily injury or damage to tangible property occurring in, on, or about the Premises, except
that Landlord shall be liable for damage resulting from the affirmative acts, negligent acts, or failure to act, of Landlord or its authorized representatives. The indemnity described in this Paragraph shall be limited to the sum that exceeds the
amount of insurance proceeds, if any, actually received by the injured party. 
  
 11. INSURANCE REQUIREMENTS. 
  
 11.1 Types of Insurance. Landlord and Tenant agree that the following insurance coverage shall be maintained with respect to the Premises, during the term of the Lease: 
  
 (a) Damage to Building. The Landlord shall maintain
or cause to be maintained by the Association, a policy or policies of hazard insurance covering loss or damage to the exterior and structural components of the Building, in such amount and subject to such limitations as may be deemed appropriate by
the Association, providing protection against all perils included within the causes of loss special form. 
  

 9 

 (b) Tenant’s Insurance. Tenant, at its cost, shall maintain: (i) hazard
insurance covering damage to the Tenant’s personal property, fixtures and tenant improvements within the Premises, in the full replacement value thereof; and (ii) public liability and property damage insurance with a combined single limit
of liability of not less than Two Million Dollars ($2,000,000) per occurrence, insuring against all liability of Tenant and its authorized representatives arising out of and in connection with Tenant’s use or occupancy of the Premises, which
policy shall be in addition to any professional liability policy that may be carried by the Tenant or its members in their discretion, and which insurance shall name the Landlord as an additional insured, and shall require notice to the Landlord at
least 20 days prior to any modification or cancellation of the policy(ies). The Tenant shall provide to the Landlord certificates of such insurance. 
  
 11.2 Waiver of Subrogation. The parties hereby release each other, and their respective authorized representatives, from all claims
and liabilities for bodily injury or damage to the Building or the Premises and to the fixtures, personal property, tenant improvements, and alterations of either Landlord or Tenant in or on the Project, Building and Premises, that are caused by or
result from risks insured against under any insurance policies carried by the parties and in force at the time of any such damage. This waiver shall include any loss included within any deductible amount maintained with respect to any insurance
policy. 
  
 12. DAMAGE AND RESTORATION. In the event the
Building shall be destroyed or damaged by fire or other causes (and regardless of the extent of the damage to the Premises) to such an extent that (i) the Landlord determines to discontinue rental of the Premises as office space, or
(ii) the Premises are not capable of full repair and restoration within thirty (30) days and Tenant determines that it is uneconomical to repair the damage, then this Lease shall be terminated as of the date of such damage or destruction,
or the date of such discontinuance. In the event of damage to the Premises by fire or other causes, other than under the circumstances described in the preceding sentence, Landlord shall repair the Premises or cause the Premises to be repaired
within a reasonable time and as quickly as circumstances will permit upon the same plan as immediately before the damage or destruction. Landlord shall not, however, be responsible for repair of any of Tenant’s personal property, fixtures or
tenant improvements. Rent shall be abated during any period of Landlord’s repair in an amount proportionate to the degree the Premises are rendered unusable. 
  
 13. CONDEMNATION. In the event any part of the Premises shall be taken by or transferred under threat of condemnation
(and regardless of the extent of any taking of the Premises), to such an extent that the Landlord determines to discontinue the rental of the 
  

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Premises as office space, then this Lease shall be terminated as of the date of such taking. In the event of such taking, other than under the circumstances
described in the preceding sentence, Landlord shall repair the Premises within a reasonable time and as quickly as circumstances will permit upon the same plan as immediately before the taking, modified if necessary to reflect the taking. Rent shall
be abated during any period of repair in an amount proportionate to the degree the Premises are rendered unusable, and shall be adjusted according to the amount of any loss of space included within the Premises. Any condemnation award shall be the
sole property of Landlord, except that Tenant shall have the right to claim any part of the award specifically allocated by the condemning authority to the unexpired term of this Lease and Tenant shall be entitled to any part of the award
constituting fair market rent for the Premises in excess of the rent otherwise payable under the terms of this Lease in the event the leasehold interest of Tenant is condemned. Additionally, Tenant shall receive from the award any value specifically
allocated by the condemning authority to any personal property or equipment belonging to the Tenant or to any fixtures or tenant improvements installed at the Tenant’s expense. 
  
 14. ASSIGNMENT/SUBORDINATION. 
  
 14.1 Voluntary Assignment, Subletting, and Encumbering by Tenant. Tenant shall not voluntarily assign
or encumber its interest in this Lease or in the Premises, or sublease all or any part of the Premises, or allow any other person or entity (except Tenant’s authorized representatives) to occupy or use all or any part of the Premises, without
first obtaining Landlord’s written consent, which shall not be unreasonably withheld; provided that Landlord shall consent to an assignment to any entity that acquires all, or substantially all, of Tenant’s assets, if the assignee is at
least as creditworthy as the Tenant identified in this Lease; and provided further that Tenant may sublet all or any portion of the Premises to any entity owned or controlled by Tenant. Any assignment, encumbrance, or sublease without
Landlord’s prior consent shall be voidable and, at Landlord’s election, shall constitute a default. No consent to any assignment, encumbrance, or sublease shall constitute a further waiver of the provisions of this Paragraph. Tenant may
also grant and create in favor of one or more lenders a security interest in any property of Tenant located within the Premises. 
  
 14.2 Involuntary Assignment by Tenant. No interest of Tenant in this Lease shall be assignable involuntarily or by operation of
law. Each of the following acts shall be considered an involuntary assignment: 
  
 (a) If Tenant is or becomes bankrupt or insolvent, makes an assignment for the benefit of creditors, institutes a proceeding under the
Bankruptcy Act in which Tenant is the bankrupt, or is the subject of an involuntary petition in bankruptcy which is not dismissed within sixty (60) days; provided, however, that the Landlord’s right to terminate based on an involuntary
bankruptcy proceeding shall be limited by the then current Rules of Bankruptcy; 
  
 (b) If a writ of attachment or execution is levied on this Lease, and such attachment or execution is not removed within thirty
(30) days; 
  

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 (c) If, in any proceeding or action to which Tenant is a party, a receiver is appointed
with authority to take possession of the Premises, which receiver is not removed within sixty (60) days. 
  
 An involuntary assignment shall constitute a default by Tenant and Landlord shall have the right to elect to terminate this Lease, in
which case this Lease shall not be treated as an asset of Tenant. 
  
 14.3 Assignment by Landlord. Landlord shall have the right to sell, assign, hypothecate, pledge, or otherwise transfer or encumber (collectively “transfer”) all or any portion of its interest in the
Project, the Premises, or this Lease, without Tenant’s consent, and Tenant shall, upon notice of such transfer, execute a written amendment to this Lease acknowledging and consenting to such transfer. If the Premises are transferred, and the
transferee assumes in writing all of Landlord’s obligations under this Lease, Tenant agrees that Landlord shall be released from any further obligations under this Lease. 
  
 14.4 Subordination of Lease. This Lease, at Landlord’s option, shall be subordinate to any
mortgage, deed of trust, or any other hypothecation for security now or hereafter placed upon the Premises or the Project, and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and
extensions thereof. Notwithstanding such subordination, Tenant’s rights to quiet possession of the Premises and other rights under this Lease shall not be disturbed, if Tenant is not in default and so long as Tenant shall pay the rent and
observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. 
  
 15. TENANT’S DEFAULT. The occurrence of any of the following shall constitute a default by Tenant: 
  
 15.1 Failure to pay rent when due, if the failure continues
for ten (10) days after the date Landlord provides written notice of the failure (the “grace period”). In addition to the remedies reserved to the Landlord in Paragraph 16, below, Tenant shall pay a late payment charge in the
amount of five percent (5%) of any installment of rent that is not paid by the expiration of such grace period. Such late charge shall be added to and payable immediately with the delinquent rent. Additionally, if any installment of rent shall
not be made within thirty (30) days of its due date, then such rent and the late payment charge shall thereafter bear interest at the rate of twelve percent (12%) per annum from the due date until paid; 
  
 15.2 Violation of or failure to perform any other provision
of this Lease if the violation or failure to perform is not cured within thirty (30) days after written notice has been given to Tenant. If the default cannot reasonably be cured within thirty (30) days, Tenant shall not be in default of
this Lease if Tenant commences to cure the default within the 30-day period and diligently and in good faith continues to cure the default. 
  

 12 

 Notice as given under Paragraph 15.2 shall specify the alleged default and the
applicable Lease provision(s), and shall demand that Tenant perform the provisions of this Lease within the applicable period of time. Such notice may serve both as a notice of the default under this Paragraph and as any statutory notice to pay rent
or quit required as a condition precedent to an action in unlawful detainer or for damages or otherwise. No such notice shall be deemed a forfeiture or a termination of this Lease unless Landlord so elects in the notice. 
  
 16. LANDLORD’S REMEDIES. Landlord shall have the following
remedies if Tenant commits a default, where the default is not cured within any applicable grace or notice period. These remedies are not exclusive; they are cumulative in addition to any remedies now or later allowed by law, and Landlord shall use
good faith efforts to mitigate its damages. 
  
 16.1 Continuation of Lease. Landlord may continue this Lease in full force and effect, and the Lease will continue in effect as long as Landlord does not terminate Tenant’s right to possession, and Landlord shall have the right
to collect rent when due. During the period Tenant is in default, Landlord may enter the Premises and relet them, or any part of them, to third parties for Tenant’s account. Tenant shall be liable immediately to Landlord for all costs Landlord
incurs in reletting the Premises, including, without limitation, reasonable brokers’ commissions, cleaning expenses, reasonable expenses of remodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter
or longer than the remaining term of this Lease. Tenant shall pay to Landlord the rent due under this Lease on the dates the rent is due, less the rent Landlord receives from any reletting. No act by Landlord allowed by this Paragraph shall
terminate this Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease. 
  
 16.2 Termination of Lease. Landlord may terminate Tenant’s right to possession of the Premises at any time. No act by Landlord
other than giving notice to Tenant shall terminate this Lease. On termination, Landlord has the right to recover from Tenant: 
  
 (a) The worth, at the time of the award, of the unpaid rent that had been earned at the time of termination of this Lease; 
  
 (b) The worth, at the time of the award, of the amount by
which the unpaid rent that would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the loss of rent that Tenant proves could have been reasonably avoided; 
  
 (c) The worth, at the time of the award, of the amount by
which the unpaid rent for the balance of the term after the time of award exceeds the amount of the loss of rent that Tenant proves could have been reasonably avoided; and 
  

 13 

 (d) Any other amount, including court costs and reasonable attorney’s fees,
necessary to compensate Landlord for all detriment proximately caused by Tenant’s default. 
  
 “The worth, at the time of the award,” as used in (a) and (b) above, is to be computed by allowing interest at the
rate of twelve percent (12%) per annum. “The worth, at the time of the award,” as referred to in (c) above, is to be computed by discounting the amount at the rate of ten percent (10%) per annum. 
  
 16.3 Landlord’s Cure of Tenant’s Default.
Landlord, at any time after Tenant commits a default, may cure the default at Tenant’s cost. If Landlord at any time, by reason of Tenant’s default, pays any sum or does any act that requires the payment of any sum, the sum paid by
Landlord shall be due immediately from Tenant to Landlord at the time the sum is paid, and if paid at a later date shall bear interest at the rate of twelve percent (12%) per annum from the date the sum is paid by Landlord until Landlord is
reimbursed by Tenant. The sum, together with interest on it, shall be additional rent. 
  
 17. LANDLORD’S RIGHT OF ENTRY. Landlord shall have the right to enter the Premises at all reasonable times and on reasonable advance notice to Tenant, in order to inspect the Premises or to otherwise
insure compliance with the provisions of this Lease. 
  
 18.
SURRENDER OF PREMISES. Prior to expiration or immediately upon termination of the term, Tenant shall surrender to Landlord the Premises and all Tenant’s improvements and alterations in good condition (except for ordinary wear and tear
occurring after the last necessary maintenance made by Tenant and damage or destruction to the Premises covered hereunder), except for alterations that Tenant has the right to remove or is obligated to remove. Tenant shall remove all its personal
property and equipment within the above-stated time. Tenant shall perform all restoration made necessary by the removal of any alterations or Tenant’s personal property or equipment. Landlord may elect to retain or dispose of in any manner any
alterations or Tenant’s personal property or equipment that Tenant does not remove from the Premises on expiration or termination of the term as allowed or required by this Lease by giving at least twenty (20) days’ notice to Tenant.
Title to any such alterations or Tenant’s personal property or equipment that Landlord elects to retain or dispose of on expiration of the 20­day period shall vest in Landlord. Tenant waives all claims against Landlord for any damage to
Tenant resulting from Landlord’s retention or disposition of any such alterations or Tenant’s personal property or equipment. Tenant shall be liable to Landlord for Landlord’s costs for storing, removing, and disposing of any
alterations or Tenant’s personal property or equipment. 
  
 19. ESTOPPEL CERTIFICATES. Either party shall, within ten (10) days after request from the other, execute and deliver to the requesting party, in recordable form, a certificate stating: (1) that this Lease is unmodified and
in full force and effect, or in full force and effect as modified, and stating the modifications; and (2) that the requesting party is not in substantial default of the provisions of the Lease, or stating the nature and extent of any claimed
default. The certificate also shall state the amount of minimum monthly rent, the dates to which the rent has been paid in advance, and the amount of the security deposit and any prepaid rent. Failure to deliver the certificate within the ten
(10) days shall be conclusive for the benefit of the 
  

 14 

 
requesting party that this Lease is in full force and effect and has not been modified, and that the requesting party is not in substantial default of the
provisions of this Lease, except as may be represented by the requesting party. If a party fails to deliver the certificate within the ten (10) days, the party failing to deliver the certificate irrevocably constitutes and appoints the other
party as its special attorney-in-fact to execute and deliver the certificate to any third party. 
  
 20. SIGNS. As part of its construction responsibility, Landlord shall erect exterior sign areas at the southeast plaza entrance, the southwest
plaza entrance, and the plaza parking entrance, which signs shall be directly or indirectly illuminated. The Landlord shall also install a directory sign within the Building. All signage outside and within the Building shall be of consistent design
and quality, and shall conform to the plans currently agreed to by the Landlord and Tenant. 
  
 The Landlord also agrees to allow the Tenant to install four (4) logo plaques at the top of the Building, on each side. The Tenant shall provide the plaques (subject to the Landlord’s reasonable approval,
with each logo plaque to fit within a rectangle of approximately 20 square feet of wall space), which the Landlord shall cause to be installed by its contractor, so that the Landlord and the contractor may retain control over the scheduling and
execution of the installation. 
  
 The Landlord reserves the right
to place other signs identifying the Building and its occupants, so long as all signs are consistent in appearance and quality and do not unreasonably interfere with signs identifying the Tenant. For example, and not by way of limitation, the
Landlord reserves the right to place signage identifying occupants of the Building: (a) on the south wall, adjacent to the overhead door entrance to the private parking garage; (b) on the east wall under the main entrance canopy; and
(c) on any free-standing monument sign erected for the purpose of identifying the Building and its occupants. 
  
 21. APPRAISAL PROCEDURES. If the Landlord and Tenant are unable to agree on any dollar amount required to be established under this Lease, such as
a fair rental value for the minimum monthly rent (the “Value”), then either party, at its cost and by giving notice to the other party, may appoint an MAI real estate appraiser with at least five (5) years’ full-time commercial
appraisal experience, to appraise the Premises and set the Value. If the other party, at its cost, does not appoint another appraiser having such qualifications within ten (10) days after the first party has given notice of the name of its
appraiser, the single appraiser appointed shall be the sole appraiser and shall set the Value. If two (2) appraisers are appointed, they shall meet promptly and attempt to set the Value by mutual agreement. If they are unable to agree within
thirty (30) days after the second appraiser has been appointed, they shall attempt to elect a third appraiser meeting the qualifications stated in this Paragraph within ten (10) days after the last day the two appraisers are given to set
the Value. If they are unable to agree on the third appraiser, either of the parties, by giving ten (10) days’ notice to the other party, may apply, in its discretion, to the then President of the Coeur d’Alene Association of
Realtors, or to the presiding judge of the District Court for Kootenai County, for the selection of a third appraiser meeting the qualifications stated in this Paragraph. Each of the parties shall bear one-half ( 1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s fee. Within thirty
(30) days after the selection of the third appraiser, a majority of the appraisers shall set the Value. If a 

  

 15 

 
majority of the appraisers is unable to set the Value by mutual agreement within the stipulated period of time, the average of the three (3) appraisals
shall be the Value. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one
appraisal is disregarded, the average of the remaining two (2) appraisals shall be the Value. If both the low appraisal and the high appraisal are disregarded as stated in this Paragraph, the middle appraisal shall be used to set the Value.

  
 22. MISCELLANEOUS AND PROCEDURAL. 
  
 22.1 Time of Essence. Time is of the essence of each
and every provision of this Lease. 
  
 22.2
Attorney’s Fees. If legal action is required or deemed necessary to enforce or interpret any of the provisions of this Lease, the prevailing party shall be entitled to recover its costs of suit or arbitration, including a reasonable
attorney’s fee, incurred in connection therewith. 
  
 22.3 Binding Effect. Subject to the restrictions on assignment set forth above, this Lease shall be binding upon and shall inure to the benefit of the parties and their respective successors and assignees. 
  
 22.4 Integrated Agreement; Modification. This Lease
contains all agreements of the parties with respect to the Tenant’s occupancy of the Premises, and may not be amended or modified except in writing signed by the party to be charged with such amendment or modification. 
  
 22.5 Waiver. No delay or omission in the exercise of
any right or remedy of either party to this Lease on any default by the other party shall impair such a right or remedy or be construed as a waiver. Either party’s consent to or approval of any act by the other party requiring such consent or
approval shall not be deemed to waive or render unnecessary the requirement of consent or approval of any subsequent act by either party. 
  
 22.6 Notice. Any notice, demand, request, consent, approval, or communication that either party desires or is required to give to
the other party or any other person shall be in writing and either served personally or sent by facsimile transmittal, e-mail, or prepaid, first-class mail. If sent by any method other than personal delivery, the notice shall be addressed and sent
to the other party at its most recently available address for the type of transmittal utilized. In the case of the Tenant, mailing or delivering to the Premises shall be deemed appropriate delivery. Either party may change its address by delivering
notice of the change of address in the manner prescribed in this subparagraph. 
  
 Any such notice shall be deemed delivered upon personal delivery or within forty-eight (48) hours from confirmation of delivery by
facsimile or e-mail, or from the time of mailing if mailed as provided in this subparagraph. 
  

 16 

 EXECUTED AND EFFECTIVE as of the date first above written. 
  

							
	 MILLER STAUFFER PROPETIES, L.L.C.,
	 	NIGHTHAWK RADIOLOGY SERVICES, LLC
	 an Idaho limited liability company
	 	a Idaho limited liability professional company
				
	 By:
	 	 /s/ Monte Miller

	 	By:	 	 /s/ Paul E. Berger 

	 	 	Monte Miller, Managing Member	 	 	 	Paul Berger, Managing Member

  

 17 

 EXHIBIT “A” TO OFFICE LEASE AGREEMENT 
  
 PROJECT SITE PLAN 
 PARKSIDE 
  

 18 

 EXHIBIT “B” TO OFFICE LEASE AGREEMENT 
  
 FLOOR PLAN SPECIFICATIONS FOR PREMISES 
  

 19

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