Document:

exv10wcc

Exhibit 10 (cc)

FIRST AMENDMENT

Dated as of September 11, 2009

to

TRANSFER AND ADMINISTRATION AGREEMENT

Dated as of December 8, 2008

     This FIRST AMENDMENT (this “Amendment”), dated as of September 11, 2009, is entered
into among GREIF PACKAGING LLC, a Delaware limited liability company (“Greif”), GREIF
RECEIVABLES FUNDING LLC, a Delaware limited liability company (the “SPV”), the Investors,
Managing Agents and Administrators party hereto, and BANK OF AMERICA, N.A., as Agent (the
“Agent”).

RECITALS

     WHEREAS, the parties hereto have entered into that certain Transfer and Administration
Agreement dated as of December 8, 2008 (the “Transfer and Administration Agreement”);

     WHEREAS, the parties hereto desire to amend the Transfer and Administration Agreement as
provided herein;

     NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein
and the Transfer and Administration Agreement, the parties hereto agree as follows:

     SECTION 1. Definitions. All capitalized terms not otherwise defined herein are used
as defined in the Transfer and Administration Agreement.

     SECTION 2. Amendments to Transfer and Administration Agreement. The Transfer and
Administration Agreement is hereby amended as follows:

     2.1. The following new definition is added to Section 1.1 of the Transfer and
Administration Agreement:

     “Consolidated Fixed Charge Coverage Ratio” has the meaning assigned to such
term in the Senior Credit Agreement.

     2.2. The definition of “Senior Credit Agreement” in Section 1.1 of the Transfer and
Administration Agreement is hereby amended and restated in its entirety to read as follows:

     ““Senior Credit Agreement” means:

     (a) the Credit Agreement dated as of February 19, 2009 (as amended, restated,
supplemented or otherwise modified and in effect from time to time), by and among Greif,
Inc., a Delaware corporation, Greif International Holding, B.V, a private limited liability
company (besloten vennootschap met beperlite aansprakelijkheid) incorporated and existing
under the laws of The Netherlands with statutory seat in Amstelveen, and certain other
wholly-owned subsidiaries of Greif, Inc. party thereto, each lender from

 

 

time to time party thereto, and Bank of America, N.A., as administrative agent, a swing
line lender and letter of credit issuer; or

     (b) if the agreement referred to in paragraph (a) is terminated or cancelled, any
secured or unsecured revolving credit or term loan agreement between or among Greif, Inc.,
as borrower, and any bank or banks or financial institutions, as lenders(s), for borrowed
monies to be used for general corporate purposes of Greif, Inc. and/or its Subsidiaries,
with an original term of not less than 3 years and an original aggregate loan commitment of
at least U.S.$250,000,000 or the equivalent thereof in any other currency and, if there is
more than one such revolving credit or term loan agreement, then such agreement which
involves the greatest original aggregate loan commitment(s) and, as between agreements
having the same aggregate original loan commitment(s), then the one which has the most
recent date; or

     (c) if the agreement referred to in paragraph (a) above and all agreements, if any,
which apply under paragraph (b) have been terminated or cancelled, then so long as paragraph
(b) does not apply as the result of one or more new agreements being entered into, the
agreement which is the last such agreement under paragraph (a) or (b) to be so terminated or
cancelled as in effect (for purposes of this definition) pursuant to such paragraphs
immediately prior to such termination or cancellation.”

     2.3. The definition of “Interest Coverage Ratio” in Section 1.1 of the
Transfer and Administration Agreement is hereby deleted in its entirety.

     2.4. Section 7.5(g) of the Transfer and Administration Agreement is hereby amended and
restated in its entirety as follows:

     “(g) the Consolidated Fixed Charge Coverage Ratio of the last day of any fiscal quarter
of the Servicer is less than 1.50 to 1.00 (or such other threshold as may from time to time
be set forth in the Senior Credit Agreement); or”

     SECTION 3. Conditions Precedent. Section 2 hereof shall become effective on
the date on which the Agent (and each Managing Agent, upon its request) has received a counterpart
(or counterparts) of this Amendment, executed and delivered by each of the parties hereto, or other
evidence satisfactory to the Agent of the execution and delivery of this Amendment by such parties.

     SECTION 4. Miscellaneous.

     4.1. Representations and Warranties. The SPV hereby represents and warrants that (i)
this Amendment constitutes a legal, valid and binding obligation of the SPV, enforceable against it
in accordance with its terms and (ii) upon the effectiveness of this Amendment, no Termination
Event or Potential Termination Event shall exist.

     4.2. References to Transfer and Administration Agreement. Upon the effectiveness of
this Amendment, each reference in the Transfer and Administration Agreement to “this Agreement”,
“hereunder”, “hereof”, “herein”, or words of like import shall mean and be a

2

 

reference to the Transfer and Administration Agreement as amended hereby, and each reference
to the Transfer and Administration Agreement in any other document, instrument or agreement
executed and/or delivered in connection with the Transfer and Administration Agreement shall mean
and be a reference to the Transfer and Administration Agreement as amended hereby.

     4.3. Effect on Transfer and Administration Agreement. Except as specifically amended
above, the Transfer and Administration Agreement and all other documents, instruments and
agreements executed and/or delivered in connection therewith shall remain in full force and effect
and are hereby ratified and confirmed.

     4.4. No Waiver. The execution, delivery and effectiveness of this Amendment shall not
operate as a waiver of any right, power or remedy of any Agent or any Investor under the Transfer
and Administration Agreement or any other document, instrument or agreement executed in connection
therewith, nor constitute a waiver of any provision contained therein, except as specifically set
forth herein.

     4.5. Governing Law. This Amendment, including the rights and duties of the parties
hereto, shall be governed by, and construed in accordance with, the internal laws of the State of
New York.

     4.6. Successors and Assigns. This Amendment shall be binding upon and shall inure to
the benefit of the parties hereto and their respective successors and assigns.

     4.7. Headings. The Section headings in this Amendment are inserted for convenience of
reference only and shall not affect the meaning or interpretation of this Amendment or any
provision hereof.

     4.8. Counterparts. This Amendment may be executed by the parties hereto in several
counterparts, each of which shall be deemed to be an original and all of which shall constitute
together but one and the same agreement.

[SIGNATURES FOLLOW]

3

 

     IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	 	GREIF RECEIVABLES FUNDING LLC,

as SPV

 	 
	 	By:  	/s/ John K. Dieker 	 
	 	 	Name:  	John K. Dieker 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 
	 	GREIF PACKAGING LLC,

individually, as an Originator and as the Servicer

 	 
	 	By:  	/s/ John K. Dieker 
	 
	 	 	Name:  	John K. Dieker 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 

[SIGNATURES CONTINUE ON FOLLOWING PAGE]

Signature Page to the First Amendment

 

 

	 	 	 	 	 
	 	YC SUSI TRUST, 

as a Conduit Investor and an Uncommitted Investor	 
	 
	 	By:  	
Bank of America, National Association,

as Administrative Trustee

 	 
	 	By:  	/s/ Matt Zimmerman
	 
	 	 	Name:  	Matt Zimmerman	 
	 	 	Title:  	Vice President	 
	 
	 	BANK OF AMERICA,

NATIONAL ASSOCIATION,

as Agent and as Managing Agent, Administrator 

and Committed Investor for the Bank of America

Investor Group

 	 
	 	By:  	/s/ Matt Zimmerman	 
	 	 	Name:  	Matt Zimmerman	 
	 	 	Title:  	Vice President	 
	 

Signature Page to the First Amendmentexv10w1e

Exhibit 10.1e

FOURTH AMENDMENT

     THIS FOURTH AMENDMENT (the “Amendment”) is made and entered into effective as of July 31, 2009
(the “Effective Date”) by and between NORMANDY LEXINGTON ACQUISITION, LLC, a Delaware limited
liability company (“Landlord”) and GOMEZ, INC., a Delaware corporation (“Tenant”). All capitalized
terms not defined in this Amendment have the respective meaning as set forth in the Original Lease.

RECITALS

	A.	 	Landlord and Tenant are parties to that certain Office Lease Agreement dated as of December
11, 2006 (the “Original Lease”) by and between Landlord and Tenant, as amended by that certain
First Amendment dated February 22, 2008 (the “First Amendment”), as further amended by that
certain Second Amendment to Lease dated October 31, 2008 (the “Second Amendment”) and as
further amended by that certain Third Amendment dated November 13, 2008 and together with the
First Amendment, Second Amendment and Original Lease, the “Lease”). Pursuant to the Lease,
Tenant currently leases the following certain premises located in the building situated at 10
Maguire Road, Lexington, Massachusetts 02421 (the “Building”): (i) approximately 26,058
rentable square feet of office space on the third floor of the “building 3” portion of the
Building (the “Original Premises”) and (ii) approximately 10,751 rentable square feet on the
first floor of the “building 4” portion of the Building (the “Expansion Premises” and
collectively with the Original Premises, the “Premises”).
	 
	B.	 	Tenant has requested that Landlord (i) lease to Tenant an additional 15,941 rentable square
feet on the third floor of the “building 3” portion of the Building, as more particularly
shown on EXHIBIT A attached hereto and incorporated herein (the “Second Expansion Premises”)
until September 30, 2014, (ii) extend the term of the Original Premises until September 30,
2014 and (iii) decrease the term of the Expansion Premises until April 30, 2010, and that the
Original Lease, as amended to date, be appropriately amended, and Landlord is willing to do
the same on the following terms and conditions.

     NOW, THEREFORE, in consideration of the above recitals which by this reference are
incorporated herein, the mutual covenants and conditions contained herein and other valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant
agree as follows:

	1.	 	Original Premises.

	 	1.01.	 	Effective as of the Effective Date, the Termination Date with respect to the
Original Premises shall be September 30, 2014.
	 
	 	1.02.	 	Effective as of the Effective Date, the Base Rent with respect to the
Original Premises shall be as set forth in Schedule I.

	2.	 	Second Expansion Premises.

	 	2.01.	 	Commencing on September 15, 2009 (the “Second Expansion Premises
Commencement Date”) and ending on September 30, 2014 (the “Second Expansion Premises
Expiration Date”):

1

 

	 	(a)	 	the Second Expansion Premises shall be added to the Original
Premises and the Expansion Premises, and, subject to Section 3.01 below,
together they shall constitute the “Premises” for all purposes under the
Lease, and
	 
	 	(b)	 	the Rentable Square Footage of the Premises, as defined in
Section 1.2 of the Original Lease, shall, subject to Section 3.01 below, be
deemed to be 52,750 rentable square feet. The Second Expansion Premises shall
be leased to Tenant subject to all of the terms and conditions of the Lease,
as amended by this Amendment.

	 	 	 	The period commencing on the Second Expansion Premises Commencement Date and ending on Second
Expansion Premises Expiration Date shall be referred to herein as the “Second Expansion
Premises Term”.
	 
	 	2.02.	 	Subject to Substantial Completion of the Tenant Work as set forth in Exhibit
B, the Second Expansion Premises are accepted by Tenant in “as is” condition and
configuration without any representations or warranties by Landlord. By taking
possession of the Second Expansion Premises, Tenant agrees that the Second Expansion
Premises are in good order and satisfactory condition. The foregoing notwithstanding,
Landlord shall continue to be responsible for its maintenance and repair obligations
set forth in Section 9.2 of the Original Lease. Landlord shall not be liable for a
failure to deliver possession of the Expansion Premises or any other space due to the
holdover or unlawful possession of such space by another party.
	 
	 	2.03.	 	Landlord shall provide Tenant up to $251,641.54 (the “Improvement
Allowance”) toward the Costs of Tenant Improvements (as hereinafter defined) to the
Second Expansion Premises pursuant to the terms of the Work Letter.
	 
	 	2.04.	 	Landlord reserves the right to construct, at the same time of the
performance of the Tenant Work (but at Landlord’s sole cost and expense), and maintain
in the Second Expansion Premises a secured area containing certain Liebert lines (the
“AC Lines”) that service the premises occupied by Bladelogic consisting of 31,697 RSF
of office space located on the second floor of the Building. The location of the AC
Lines shall be as shown on the Space Plan (defined in the Work Letter). The
Landlord’s
right to enter the Premises as set forth and subject to the terms and provisions of
Section 10 of the Lease shall include Landlord’s right to enter the Premises to
inspect, maintain and repair the AC Lines. Tenant shall not disturb or damage the
AC Lines.
	 
	 	2.05.	 	Commencing on the Second Expansion Premises Commencement Date and continuing
through the end of the Second Expansion Premises Term:

	 	(a)	 	Tenant shall pay Landlord, without any setoff or deduction,
unless expressly set forth in the Lease, monthly Base Rent for the Second
Expansion Premises in the amounts set forth in Schedule I attached
hereto and incorporated herein; provided, however, that Tenant’s monthly Base
Rent for any partial month shall be appropriately pro-rated.
	 
	 	(b)	 	Tenant’s Pro Rata Share with respect to the Second Expansion
Premises shall be 5.59%.

2

 

	 	(c)	 	The Base Year for Taxes with respect to the Second Expansion
Premises shall be Fiscal Year 2007 (i.e., July 1, 2006 to June 30, 2007) and
the Base Year for Expenses with respect to the Second Expansion Premises shall
be Calendar Year 2007.
	 
	 	(d)	 	Tenant shall pay Tenant’s Pro Rata Share of Taxes and
Expenses with respect to the Second Expansion Premises in accordance with
Exhibit B of the Original Lease and at the same time and manner as required
for Tenant’s Pro Rata Share of Taxes and Expenses with respect to the Original
Premises as set forth in the Original Lease.
	 
	 	(e)	 	Electricity shall be distributed to the Second Expansion
Premises either by the electric utility company selected by Landlord to
provide electricity service for the Building or, at Landlord’s option, by
Landlord; and Landlord shall permit Landlord’s wires and conduits, to the
extent available, suitable and safely capable, to be used for such
distribution. If and so long as Landlord is distributing electricity to the
Expansion Premises, Tenant shall obtain all of its electricity from Landlord
and shall pay all of Landlord’s charges as Additional Rent, which charges
shall be based on meter readings from a submeter to the Second Expansion
Premises. All electricity used during the performance of janitorial service,
or the making of any alterations or repairs in or to the Expansion Premises,
or the operation of any special air conditioning system serving the Second
Expansion Premises, shall be paid by Tenant. Landlord reserves all rights
with respect to electrical service to the Second Expansion Premises set forth
in the Original Lease.

	3.	 	Expansion Premises.

	 	3.01.	 	Effective as of the Effective Date, the Expansion Premises Expiration Date
shall be modified to be April 30, 2010. On May 1, 2010, only the Original
Premises and Second Expansion Premises shall constitute the “Premises” for all
purposes under the Lease and the Rentable Square Footage of the Premises, as defined
in Section 1.2 of the Original Lease, shall be deemed to be 41,999 rentable square
feet..
	 
	 	3.02.	 	Effective as of the Effective Date, all options of Tenant to extend the Term
with respect to the Expansion Premises shall be void and of no force or effect.
	 
	 	3.03.	 	Landlord and Tenant acknowledge and agree that, prior to the Expansion
Premises Expiration Date set forth in Section 3.01 above, monthly Base Rent for the
Expansion Premises shall remain $24,861.68 as set forth in the Third Amendment.

	4.	 	Security Deposit. Effective as of the Effective Date, (i) Section 1.8 of the
Original Lease shall be amended to provide that the amount of the Security Deposit is
$275,000 and (ii) the last paragraph of Section 6 of the Original Lease shall be
deleted in its entirety. Simultaneously with the execution and delivery of this Amendment,
Tenant shall deliver to Landlord an amendment to the existing Letter of Credit (as defined in
Section 6 of the Original Lease) increasing the amount of the existing Letter of Credit to
$275,000 (“Additional Security”), which amendment to the existing Letter of Credit shall meet
all criteria set forth in Section 6 of the Original Lease.

3

 

	5.	 	Miscellaneous.

	 	5.01.	 	This Amendment sets forth the entire agreement between the parties with
respect to the matters set forth herein. There have been no additional oral or
written representations or agreements. Under no circumstances shall Tenant be
entitled to any Rent abatement, improvement allowance, leasehold improvements, or
other work to the Original Premises or Expansion Premises, or any similar economic
incentives that may have been provided Tenant in connection with entering into the
Lease, unless specifically set forth in the Original Lease as amended to date or this
Fourth Amendment.
	 
	 	5.02.	 	Except as herein modified or amended, the provisions, conditions and terms
of the Lease shall remain unchanged and in full force and effect.
	 
	 	5.03.	 	In the case of any inconsistency between the provisions of the Lease and
this Amendment, the provisions of this Amendment shall govern and control.
	 
	 	5.04.	 	Submission of this Amendment by Landlord is not an offer to enter into this
Amendment but rather is a solicitation for such an offer by Tenant. Landlord shall
not be bound by this Amendment until Landlord has executed and delivered the same to
Tenant.
	 
	 	5.05.	 	The capitalized terms used in this Amendment shall have the same definitions
as set forth in the Lease to the extent that such capitalized terms are defined
therein and not redefined in this Amendment.
	 
	 	5.06.	 	Tenant represents that it has dealt directly with and only with the Tenant
Broker (as defined in the Original Lease) as a broker in connection with this
Amendment. Tenant shall indemnify and hold Landlord and the Landlord Related Parties
(as defined in the Original Lease) harmless from all claims of any other brokers
claiming to have represented Tenant in connection with this Amendment. Landlord shall
indemnify and hold Tenant and the Tenant Related Parties (as defined in the Original
Lease) harmless from all claims of any brokers claiming to have represented Landlord
in connection with this Amendment.
	 
	 	5.07.	 	Each signatory of this Amendment represents hereby that he or she has the
authority to execute and deliver the same on behalf of the party hereto for which such
signatory is acting.
	 
	 	5.08.	 	The Amendment may be executed in one or more counterparts, each of which
shall be deemed an original and all of which, when taken together, shall constitute
one and the same instrument.

[signatures on following page]

4

 

     IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Fourth Amendment as of the day
and year first above written.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	WITNESS/ATTEST:	 	 	 	LANDLORD:	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	NORMANDY LEXINGTON ACQUISITION, LLC,
a
Delaware limited liability company	 	 
	 
	/s/ Laura Allen	 	 	 	By:	 	/s/ Raymond P. Trevisan	 	 
	 	 	 	 	 	 	 	 	 
	Name (print):

	 	Laura Allen
	 	 	 	 	 	Name:
	 	Raymond P. Trevisan	 	 
	 

	 	 

	 	 
	 	 	 	 	 	 

	 	 
	 

	 	 	 	 	 	 	 	Title:
	 	Vice President and Secretary	 	 
	 	 	 	 	 	 	 	 	 	 	 
	Name (print):
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	WITNESS/ATTEST:	 	 	 	TENANT:	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	GOMEZ, INC., a Delaware corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	/s/ Ellen Murphy	 	 	 	By:	 	/s/ Richard M. Darer	 	 
	 	 	 	 	 	 	 	 	 
	Name (print):

	 	Ellen Murphy
	 	 	 	 	 	Name:
	 	Richard M. Darer	 	 
	 

	 	 

	 	 
	 	 	 	 	 	 

	 	 
	 

	 	 	 	 	 	 	 	Title:
	 	SVP and Chief Financial Officer	 	 
	 	 	 	 	 	 	 	 	 	 	 
	Name (print):
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 	 	 

	 	 

5

 

Exhibit A

Second Expansion Premises

6

 

Schedule I

Base Rent Schedule

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Base Rent	 	Annual	 	Monthly Installment
	Period	 	Per RSF	 	Base Rent	 	of Base Rent
	I. Original
Premises. (26,058
s.f.)
	 	 	 	 	 	 	 	 	 	 	 	 
	Through March
31, 2011
	 	Per Section 1.3 of the Original Lease
	April 1, 2011 -
March 31, 2012
	 	$	30.00	 	 	$	781,740.00	 	 	$	65,145.00	 
	April 1, 2012 -
March 31, 2013
	 	$	31.00	 	 	$	807,798.00	 	 	$	67,316.50	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	II. Second
Expansion Premises.
(15,941 s.f.).
	 	 	 	 	 	 	 	 	 	 	 	 
	Second
Expansion
Premises
Commencement
Date  — March
31, 2010
	 	$	28.00	 	 	$	446,348.00	 	 	$	37,195.67	 
	April 1, 2010 -
March 31, 2011
	 	$	29.00	 	 	$	462,289.00	 	 	$	38,524.08	 
	April 1, 2011 -
March 31, 2012
	 	$	30.00	 	 	$	478,230.00	 	 	$	39,852.50	 
	April 1, 2012 -
March 31, 2013
	 	$	31.00	 	 	$	494,171.00	 	 	$	41,180.92	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	III. Original Plus
Second Expansion
Premises.
(41,999 s.f.).
	 	 	 	 	 	 	 	 	 	 	 	 
	April 1, 2013
- March 31,
2014
	 	$	32.00	 	 	$	1,343,968.00	 	 	$	111,997.33	 
	April 1, 2014
- September
30, 2014
	 	$	33.00	 	 	$	1,385,967.00	 	 	$	115,497.25	 

7

 

EXHIBIT B

WORK LETTER

This Exhibit is attached to and made a part of the Fourth Amendment to Lease (the “Fourth
Amendment”) by and between NORMANDY LEXINGTON ACQUISITION, LLC, a Delaware limited liability
company (“Landlord”) and GOMEZ, INC., a Delaware corporation (“Tenant”) for the Second Expansion
Space in the Building located at 10 Maguire Road, Lexington, Massachusetts 02421.

1. CONDITION OF PREMISES.

As set forth in Section 2.02 of this Fourth Amendment, Landlord shall deliver the Second Expansion
Premises to Tenant with the Tenant Work (defined in Section 2 below) Substantially Complete (as
defined in Section 7 below). Provided that the Second Expansion Premises are delivered in said
condition, Tenant shall accept the Second Expansion Premises in their then as-is condition without
any obligation on the Landlord’s part to perform any additions, alterations, improvements,
demolition or other work therein or pertaining thereto. The foregoing shall not affect Landlord’s
repair obligations pursuant to Section 9 of the Original Lease.

2. PREPARATION OF PLANS.

Tenant shall prepare a space plan showing, among other things, a partition layout, door location
and some furniture located in key spaces within the Second Expansion Premises (the “Space Plan”)
for the work to be performed by Landlord to prepare the Second Expansion Premises for Tenant’s
occupancy (“Tenant Work”), such Space Plan to be completed within five (5) business days of the
full execution and delivery of this Amendment. Landlord will make Landlord’s architect available
to Tenant for completion of the Space Plan. Within seven (7) business days following completion of
the Space Plan and in consultation with the Tenant, construction plans and specifications for the
Tenant Work consistent with the Space Plan (the “Draft Plans”) shall be prepared by Landlord’s
architect at Tenant’s sole cost and expense. On or before three (3) days after receipt thereof,
Tenant shall approve of the Draft Plans in writing or provide Landlord with a written detailed
reason for Tenant’s disapproval, including how the Draft Plans do not conform to the Space Plan.
The Draft Plans, as approved by Tenant in writing, shall be referred to herein as the “Plans”. In
the event that the Tenant does not approve the Draft Plans, the Landlord shall cause the Architect
within five (5) business days after receipt of Tenant’s written detail to provide revised Draft
Plans. Time is of the essence with respect to the preparation and approval of the Plans. Upon
final approval of the Plans by Tenant and receipt of any Overage (defined in Section 4 below),
Landlord shall, with all reasonable diligence, engage the General Contractor (defined below) to
construct the Tenant Work and file for the building permit for the Tenant Work.

Any approval or preparation by Landlord, or Landlord’s architects and/or engineers of any of
Tenant’s drawings, plans and specifications which are prepared in connection with any construction
in or about the Second Expansion Premises (including without limitation any change orders thereto)
shall not in any way be construed or operate to bind Landlord or to constitute a representation or
warranty of Landlord as to the adequacy or sufficiency of such drawings, plans and specifications
or the construction to which they relate, for any use, purpose, or condition.

3. PERFORMANCE OF WORK; CHANGE ORDERS.

The Tenant Work shall be performed by a general contractor chosen by Landlord (the “General
Contractor”). Landlord shall enter into a contract with the General Contractor for performance of
the
Tenant Work according the Plans, which contract shall (i) contain a contract price of the cost of
the

8

 

Tenant Work (the “Contract Price”) and (ii) include a complete unit cost breakdown of all
materials and labor, which unit costs also shall apply to all Change Orders (the “Construction
Contract”). Landlord shall provide on-site construction management services at Tenant’s cost not
to exceed four percent (4%) of the Contract Price. All construction work required or permitted by
this Lease shall be done in a good and workmanlike manner and in compliance with all applicable
laws, ordinances, rules, regulations, statutes, by-laws, court decisions, and orders and
requirements of all public authorities (“Legal Requirements”).

Tenant may make additional changes to the Plans (a “Change Order”), subject to Landlord’s written
approval, which shall not be unreasonably withheld, conditioned or delayed (except for matters
relating to aesthetic issues relating to alterations or changes visible outside the Second
Expansion Premises which Landlord may withhold in its sole discretion). Landlord shall notify
Tenant in writing, within five business (5) days of Tenant’s Change Order request, of its approval
or a detailed reason of its disapproval of such Change Order and a good faith estimate of the
actual cost of, and additional time, if any, required to perform the work contemplated by such
Change Order request. Tenant may, within five (5) business days of its receipt of such estimate,
elect to rescind its request for such Change Order upon written notice to Landlord. To the extent
the Change Order results in any increased costs for completion of the Tenant Work, all costs
associated with any Change Order shall be the responsibility of Tenant to the extent the same cause
the Costs of Tenant Improvements to exceed the Improvement Allowance, and such costs in excess of
the Improvement Allowance shall be paid to Landlord, as additional rent and as a condition of the
approval of such change, within five (5) business days of Landlord’s approval therefor.

4. IMPROVEMENT ALLOWANCE; TENANT’S COSTS.

Landlord shall provide to Tenant an improvement allowance of $251,641.54 (the “Improvement
Allowance”) to be applied against Costs of Tenant Improvements (defined below):

“Costs of Tenant Improvements” shall mean the design and architectural costs to
prepare the Tenant Plans for the Second Expansion Premises only, costs of all labor
and materials with respect to the Second Expansion Premises only, costs for removal
of all construction debris, general contractor’s fees and any permit or license
fees necessary for completion of construction of Tenant Work in the Second
Expansion Premises only, telephone and data cabling in the Second Expansion
Premises only and shall include the construction management and supervisory fee
described herein.

Within five (5) business days of notification from Landlord of the amount of Tenant’s Costs of
Improvements, which shall include an itemized breakdown from the General Contractor of the costs of
Tenant Work, Tenant shall pay to the Landlord such amount, as additional rent, representing the
difference, if any, between the Improvement Allowance and the Costs of Tenant Improvements (the
“Overage”). Thereafter, any additional
amount of Costs of Tenant Improvements accruing shall be payable, as additional rent, within five
(5) business days after Tenant’s receipt of an accounting therefor.

Landlord shall be under no obligation to apply any portion of the Improvement Allowance for any
purposes other than as provided in this Work Letter, nor shall Landlord be deemed to have assumed
any obligations, in whole or in part, of Tenant to any contractors, subcontractors, supplier,
workers or material men. The foregoing notwithstanding, in the event any Tenant Improvement
Allowance remains unapplied following completion of the Tenant Work and payment of all invoices
related thereto, Landlord shall apply 25% of such remainder to Base Rent next due and owing.

9

 

5. CONSTRUCTION REPRESENTATIVES.

Landlord and Tenant shall furnish to the other a written list of such party’s authorized
construction representatives for the Tenant Work. Only such construction representatives are
authorized to sign any Change Order, or disbursement request for any allowance, receipt, or other
document on behalf of such party related to the Tenant Work, and without the signature of such
authorized construction representative, no such document shall be binding upon the party. Each
party may from time to time change or add to the list of authorized construction representatives by
giving the other written notice of the addition or change. Landlord’s initial construction
representative is Jeff Rines. Tenant’s initial construction representative is Rick Darer.

6. All tel-data work, system furniture and any other work not set forth in the Plans shall be
the sole responsibility of the Tenant and performed in compliance with the subject to the terms
of the Lease (it being understood that the Improvement Allowance may be applied toward cost of
said tel-data work). Landlord shall be under no obligation to apply any portion of the
Improvement Allowance for any purposes other than as provided in this Exhibit B for the Second
Expansion Premises only, nor shall Landlord be deemed to have assumed any obligations, in whole
or in part, of Tenant to any contractors, subcontractors, supplier, workers or material men.
Landlord shall be under no obligation to disburse any remaining portion of the Improvement
Allowance if (i) Tenant is in Default under the Lease at the time of request of such
disbursement or at the time such disbursement is due from Landlord or (ii) any disbursement
request is received after the date that is nine (9) months from the commencement of the Lease
with respect to the Second Expansion Premises, and Tenant shall not thereafter be entitled to
any such undisbursed portion of the Improvement Allowance.

7. As used herein, “Substantial Completion” shall mean that all Tenant Work has substantially
been performed, other than Tenant Delay (as hereafter defined) any details of construction,
mechanical adjustment or any other similar matter, the non-completion of which does not
materially interfere with Tenant’s use and occupancy of the Second Expansion Premises. A
“Tenant Delay” shall occur if Landlord is delayed in the performance of the Tenant Work as a
result of the acts or omissions of Tenant (which shall be subject at least 24 hour notice from
Landlord by email and phone to Rick Darer at rdarer@gomez.com and 781.698.9370 — or such other
contact as Tenant may designate in writing to Landlord from time to time — before any Tenant
Delay shall be imposed), the Tenant Related Parties (defined in Section 13 of the Original
Lease) or their respective contractors or vendors including, without limitation, Tenant’s delay
in approving the Plans (defined in this Exhibit B), changes requested by Tenant to the approved
Plans, Tenant’s failure to comply with any of its obligations under this Lease, or the
specification of any materials or equipment with long lead times.

10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]