Document:

EX-10.19

 Exhibit 10.19 

IONQ, INC. 

2021 EMPLOYEE STOCK PURCHASE PLAN 

ADOPTED BY THE BOARD OF DIRECTORS:
AUGUST 9, 2021 
 APPROVED BY THE STOCKHOLDERS:
SEPTEMBER 28, 2021 
  

	1.	 GENERAL; PURPOSE. 

(a) The Plan provides a means by which Eligible Employees of the Company and certain Designated Companies may be given an opportunity to
purchase shares of Common Stock. The Plan permits the Company to grant a series of Purchase Rights to Eligible Employees under an Employee Stock Purchase Plan. In addition, the Plan permits the Company to grant a series of Purchase Rights to
Eligible Employees that do not meet the requirements of an Employee Stock Purchase Plan. 
 (b) The Plan includes two components: a
423 Component and a Non-423 Component. The Company intends (but makes no undertaking or representation to maintain) the 423 Component to qualify as an Employee Stock Purchase Plan. The provisions of the 423
Component, accordingly, will be construed in a manner that is consistent with the requirements of Section 423 of the Code. Except as otherwise provided in the Plan or determined by the Board, the Non-423
Component will operate and be administered in the same manner as the 423 Component. 
 (c) The Company, by means of the Plan, seeks
to retain the services of Eligible Employees, to secure and retain the services of new Employees and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Related Corporations. 

 

	2.	 ADMINISTRATION. 

(a) The Board or the Committee will administer the Plan. References herein to the Board shall be deemed to refer to the Committee except
where context dictates otherwise. 
 (b) The Board will have the power, subject to, and within the limitations of, the express
provisions of the Plan: 
 (i) To determine how and when Purchase Rights will be granted and the provisions of each Offering (which
need not be identical). 
 (ii) To designate from time to time (A) which Related Corporations will be eligible to participate in
the Plan as Designated 423 Corporations, (B) which Related Corporations or Affiliates will be eligible to participate in the Plan as Designated Non-423 Corporations, and (C) which Designated
Companies will participate in each separate Offering (to the extent that the Company makes separate Offerings). 
 (iii) To construe
and interpret the Plan and Purchase Rights, and to establish, amend and revoke rules and regulations for its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to
the extent it deems necessary or expedient to make the Plan fully effective. 
 (iv) To settle all controversies regarding the Plan
and Purchase Rights granted under the Plan. 
 (v) To suspend or terminate the Plan at any time as provided in Section 12. 

(vi) To amend the Plan at any time as provided in Section 12. 

  
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 (vii) Generally, to exercise such powers and to perform such acts as it deems
necessary or expedient to promote the best interests of the Company and its Related Corporations and to carry out the intent that the Plan be treated as an Employee Stock Purchase Plan with respect to the 423 Component. 

(viii) To adopt such rules, procedures and sub-plans as are necessary or appropriate to permit
or facilitate participation in the Plan by Employees who are foreign nationals or employed or located outside the United States. Without limiting the generality of, and consistent with, the foregoing, the Board specifically is authorized to adopt
rules, procedures, and sub-plans regarding, without limitation, eligibility to participate in the Plan, the definition of eligible “earnings,” handling and making of Contributions, establishment of
bank or trust accounts to hold Contributions, payment of interest, conversion of local currency, obligations to pay payroll tax, determination of beneficiary designation requirements, withholding procedures and handling of share issuances, any of
which may vary according to applicable requirements, and which, if applicable to a Designated Non-423 Corporation, do not have to comply with the requirements of Section 423 of the Code. 

(c) The Board may delegate some or all of the administration of the Plan to a Committee or Committees. If administration is delegated
to a Committee, the Committee will have, in connection with the administration of the Plan, the powers theretofore possessed by the Board that have been delegated to the Committee, including the power to delegate to a subcommittee any of the
administrative powers the Committee is authorized to exercise (and references in this Plan to the Board will thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as
may be adopted from time to time by the Board. Further, to the extent not prohibited by Applicable Law, the Board or Committee may, from time to time, delegate some or all of its authority under the Plan to one or more officers of the Company or
other persons or groups of persons as it deems necessary, appropriate or advisable under conditions or limitations that it may set at or after the time of the delegation. The Board may retain the authority to concurrently administer the Plan with
the Committee and may, at any time, revest in the Board some or all of the powers previously delegated. Whether or not the Board has delegated administration of the Plan to a Committee, the Board will have the final power to determine all questions
of policy and expediency that may arise in the administration of the Plan. 
 (d) All determinations, interpretations and
constructions made by the Board in good faith will not be subject to review by any person and will be final, binding and conclusive on all persons. 
  

	3.	 SHARES OF COMMON STOCK SUBJECT
TO THE PLAN. 

 (a) Subject to the provisions of Section 11(a)
relating to Capitalization Adjustments, the maximum number of shares of Common Stock that may be issued under the Plan will not exceed 5,354,000 shares of Common Stock, plus the number of shares of Common Stock that are automatically added on
January 1st of each year for a period of ten years commencing on January 1, 2022 and ending on (and including) January 1, 2031, in an amount equal to the lesser of (i) 1% of the
Fully-Diluted Common Stock outstanding on December 31st of the preceding calendar year (inclusive of the share reserve for the Plan and of the Company’s 2021 Equity Incentive Plan), and (ii)
10,708,000 shares of Common Stock. Notwithstanding the foregoing, the Board may act prior to the first day of any calendar year to provide that there will be no January 1st increase in the share
reserve for such calendar year or that the increase in the share reserve for such calendar year will be a lesser number of shares of Common Stock than would otherwise occur pursuant to the preceding sentence. For the avoidance of doubt, up to the
maximum number of shares of Common Stock reserved under this Section 3(a) may be used to satisfy purchases of Common Stock under the 423 Component and any remaining portion of such maximum number of shares may be used to satisfy purchases of
Common Stock under the Non-423 Component. 

  
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 (b) If any Purchase Right granted under the Plan terminates without having been
exercised in full, the shares of Common Stock not purchased under such Purchase Right will again become available for issuance under the Plan. 

(c) The stock purchasable under the Plan will be shares of authorized but unissued or reacquired Common Stock, including shares
repurchased by the Company on the open market. 
  

	4.	 GRANT OF PURCHASE RIGHTS;
OFFERING. 

 (a) The Board may from time to time grant or provide for the grant of Purchase
Rights to Eligible Employees under an Offering (consisting of one or more Purchase Periods) on an Offering Date or Offering Dates selected by the Board. Each Offering will be in such form and will contain such terms and conditions as the Board will
deem appropriate, and, with respect to the 423 Component, will comply with the requirement of Section 423(b)(5) of the Code that all Employees granted Purchase Rights will have the same rights and privileges. The terms and conditions of an
Offering shall be incorporated by reference into the Plan and treated as part of the Plan. The provisions of separate Offerings need not be identical, but each Offering will include (through incorporation of the provisions of this Plan by reference
in the document comprising the Offering or otherwise) the period during which the Offering will be effective, which period will not exceed 27 months beginning with the Offering Date, and the substance of the provisions contained in Sections 5
through 8, inclusive. 
 (b) If a Participant has more than one Purchase Right outstanding under the Plan, unless he or she otherwise
indicates in forms delivered to the Company or a third party designated by the Company (each, a “Company Designee”): (i) each form will apply to all of his or her Purchase Rights under the Plan, and (ii) a Purchase Right
with a lower exercise price (or an earlier-granted Purchase Right, if different Purchase Rights have identical exercise prices) will be exercised to the fullest possible extent before a Purchase Right with a higher exercise price (or a later-granted
Purchase Right if different Purchase Rights have identical exercise prices) will be exercised. 
 (c) The Board will have the
discretion to structure an Offering so that if the Fair Market Value of a share of Common Stock on the first Trading Day of a new Purchase Period within that Offering is less than or equal to the Fair Market Value of a share of Common Stock on the
Offering Date for that Offering, then (i) that Offering will terminate immediately as of that first Trading Day, and (ii) the Participants in such terminated Offering will be automatically enrolled in a new Offering beginning on the first
Trading Day of such new Purchase Period. 
  

	5.	 ELIGIBILITY. 

(a) Purchase Rights may be granted only to Employees of the Company or, as the Board may designate in accordance with Section 2(b),
to Employees of a Related Corporation or an Affiliate. Except as provided in Section 5(b) or as required by Applicable Law, an Employee will not be eligible to be granted Purchase Rights unless, on the Offering Date, the Employee has been in
the employ of the Company or the Related Corporation or an Affiliate, as the case may be, for such continuous period preceding such Offering Date as the Board may require, but in no event will the required period of continuous employment be equal to
or greater than two years. In addition, the Board may (unless prohibited by Applicable Law) provide that no Employee will be eligible to be granted Purchase Rights under the Plan unless, on the Offering Date, such Employee’s customary
employment with the Company, the Related Corporation, or the Affiliate is more than 20 hours per week and more than five months per calendar year or such other criteria as the Board may determine consistent with Section 423 of the Code with
respect to the 423 Component. The Board may also exclude from participation in the Plan or any Offering Employees who are “highly compensated employees” (within the meaning of Section 423(b)(4)(D) of the Code) of the Company or a
Related Corporation or a subset of such highly compensated employees. 

  
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 (b) The Board may provide that each person who, during the course of an Offering,
first becomes an Eligible Employee will, on a date or dates specified in the Offering which coincides with the day on which such person becomes an Eligible Employee or which occurs thereafter, receive a Purchase Right under that Offering, which
Purchase Right will thereafter be deemed to be a part of that Offering. Such Purchase Right will have the same characteristics as any Purchase Rights originally granted under that Offering, as described herein, except that: 

(i) the date on which such Purchase Right is granted will be the “Offering Date” of such Purchase Right for all purposes,
including determination of the exercise price of such Purchase Right; 
 (ii) the period of the Offering with respect to such
Purchase Right will begin on its Offering Date and end coincident with the end of such Offering; and 
 (iii) the Board may provide
that if such person first becomes an Eligible Employee within a specified period of time before the end of the Offering, he or she will not receive any Purchase Right under that Offering. 

(c) No Employee will be eligible for the grant of any Purchase Rights under the 423 Component if, immediately after any such Purchase
Rights are granted, such Employee owns stock possessing five percent or more of the total combined voting power or value of all classes of stock of the Company or of any Related Corporation. For purposes of this Section 5(c), the rules of
Section 424(d) of the Code will apply in determining the stock ownership of any Employee, and stock which such Employee may purchase under all outstanding Purchase Rights and options will be treated as stock owned by such Employee. 

(d) As specified by Section 423(b)(8) of the Code, an Eligible Employee may be granted Purchase Rights under the 423 Component
only if such Purchase Rights, together with any other rights granted under all Employee Stock Purchase Plans of the Company and any Related Corporations, do not permit such Eligible Employee’s rights to purchase stock of the Company or any
Related Corporation to accrue at a rate which, when aggregated, exceeds US $25,000 of Fair Market Value of such stock (determined at the time such rights are granted, and which, with respect to the Plan, will be determined as of their respective
Offering Dates) for each calendar year in which such rights are outstanding at any time. 
 (e) Officers of the Company and any
Designated Company, if they are otherwise Eligible Employees, will be eligible to participate in Offerings under the Plan. Notwithstanding the foregoing, the Board may (unless prohibited by Applicable Law) provide in an Offering that Employees who
are highly compensated Employees within the meaning of Section 423(b)(4)(D) of the Code will not be eligible to participate. 

(f) Notwithstanding anything in this Section 5 to the contrary, in the case of an Offering under the Non-423 Component, an Eligible Employee (or group of Eligible Employees) may be excluded from participation in the Plan or an Offering if the Board has determined, in its sole discretion, that participation of such
Eligible Employee(s) is not advisable or practical for any reason. 
  

	6.	 PURCHASE RIGHTS; PURCHASE PRICE.

 (a) On each Offering Date, each Eligible Employee, pursuant to an Offering made under the Plan, will be
granted a Purchase Right to purchase up to that number of shares of Common Stock purchasable either with a percentage or with a maximum dollar amount, as designated by the Board, but in either case not exceeding 15% of such Eligible Employee’s
earnings (as defined by the Board in each Offering) during the period that begins on the Offering Date (or such later date as the Board determines for a particular Offering) and ends on the date stated in the Offering, which date will be no later
than the end of the Offering. 
 (b) The Board will establish one or more Purchase Dates during an Offering on which Purchase Rights
granted for that Offering will be exercised and shares of Common Stock will be purchased in accordance with such Offering. 

  
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 (c) In connection with each Offering made under the Plan, the Board may specify
(i) a maximum number of shares of Common Stock that may be purchased by any Participant on any Purchase Date during such Offering, (ii) a maximum aggregate number of shares of Common
Stock that may be purchased by all Participants pursuant to such Offering and/or (iii) a maximum aggregate number of shares of Common Stock that may be purchased by all Participants on any Purchase Date under the Offering. If the aggregate
purchase of shares of Common Stock issuable upon exercise of Purchase Rights granted under the Offering would exceed any such maximum aggregate number, then, in the absence of any Board action otherwise, a pro rata (based on each Participant’s
accumulated Contributions) allocation of the shares of Common Stock (rounded down to the nearest whole share) available will be made in as nearly a uniform manner as will be practicable and equitable. 

(d) The purchase price of shares of Common Stock acquired pursuant to Purchase Rights will be specified by Board prior to the
commencement of an Offering and will not be less than the lesser of: 
 (i) an amount equal to 85% of the Fair Market Value of the
shares of Common Stock on the Offering Date; or 
 (ii) an amount equal to 85% of the Fair Market Value of the shares of Common Stock
on the applicable Purchase Date. 
  

	7.	 PARTICIPATION; WITHDRAWAL; TERMINATION.

 (a) An Eligible Employee may elect to participate in an Offering and authorize payroll deductions as the
means of making Contributions by completing and delivering to the Company or a Company Designee, within the time specified for the Offering, an enrollment form provided by the Company or Company Designee. The enrollment form will specify the amount
of Contributions not to exceed the maximum amount specified by the Board. Each Participant’s Contributions will be credited to a bookkeeping account for such Participant under the Plan and will be deposited with the general funds of the Company
except where Applicable Law requires that Contributions be deposited with a third party. If permitted in the Offering, a Participant may begin such Contributions with the first payroll occurring on or after the Offering Date (or, in the case of a
payroll date that occurs after the end of the prior Offering but before the Offering Date of the next new Offering, Contributions from such payroll will be included in the new Offering). If permitted in the Offering, a Participant may thereafter
reduce (including to zero) or increase his or her Contributions. If required under Applicable Law or if specifically provided in the Offering and to extent permitted by Section 423 of the Code with respect to the 423 Component, in addition to
or instead of making Contributions by payroll deductions, a Participant may make Contributions through payment by cash, check or wire transfer prior to a Purchase Date. 

(b) During an Offering, a Participant may cease making Contributions and withdraw from the Offering by delivering to the Company or a
Company Designee a withdrawal form provided by the Company. The Company may impose a deadline before a Purchase Date for withdrawing. Upon such withdrawal, such Participant’s Purchase Right in that Offering will immediately terminate and the
Company will distribute as soon as practicable to such Participant all of his or her accumulated but unused Contributions and such Participant’s Purchase Right in that Offering shall thereupon terminate. A Participant’s withdrawal from
that Offering will have no effect upon his or her eligibility to participate in any other Offerings under the Plan, but such Participant will be required to deliver a new enrollment form to participate in subsequent Offerings. 

(c) Unless otherwise required by Applicable Law, Purchase Rights granted pursuant to any Offering under the Plan will terminate
immediately if the Participant either (i) is no longer an Employee for any reason or for no reason (subject to any post-employment participation period required by Applicable Law) or (ii) is otherwise no longer eligible to participate. The
Company will distribute as soon as practicable to such individual all of his or her accumulated but unused Contributions. 

  
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 (d) Unless otherwise determined by the Board, a Participant whose employment
transfers or whose employment terminates with an immediate rehire (with no break in service) by or between the Company and a Designated Company or between Designated Companies will not be treated as having terminated employment for purposes of
participating in the Plan or an Offering; however, if a Participant transfers from an Offering under the 423 Component to an Offering under the Non-423 Component, the exercise of the Participant’s
Purchase Right will be qualified under the 423 Component only to the extent such exercise complies with Section 423 of the Code. If a Participant transfers from an Offering under the Non-423 Component to
an Offering under the 423 Component, the exercise of the Purchase Right will remain non-qualified under the Non-423 Component. The Board may establish different and
additional rules governing transfers between separate Offerings within the 423 Component and between Offerings under the 423 Component and Offerings under the Non-423 Component. 

(e) During a Participant’s lifetime, Purchase Rights will be exercisable only by such Participant. Purchase Rights are not
transferable by a Participant, except by will, by the laws of descent and distribution, or, if permitted by the Company, by a beneficiary designation as described in Section 10. 

(f) Unless otherwise specified in the Offering or as required by Applicable Law, the Company will have no obligation to pay interest on
Contributions. 
  

	8.	 EXERCISE OF PURCHASE RIGHTS.

 (a) On each Purchase Date, each Participant’s accumulated Contributions will be applied to the purchase
of shares of Common Stock, up to the maximum number of shares of Common Stock permitted by the Plan and the applicable Offering, at the purchase price specified in the Offering. No fractional shares will be issued unless specifically provided for in
the Offering. 
 (b) Unless otherwise provided in the Offering, if any amount of accumulated Contributions remains in a
Participant’s account after the purchase of shares of Common Stock on the final Purchase Date of an Offering, then such remaining amount will not roll over to the next Offering and will instead be distributed in full to such Participant after
the final Purchase Date of such Offering without interest (unless otherwise required by Applicable Law). 
 (c) No Purchase Rights
may be exercised to any extent unless the shares of Common Stock to be issued upon such exercise under the Plan are covered by an effective registration statement pursuant to the Securities Act and the Plan is in material compliance with all
applicable U.S. federal and state, foreign and other securities, exchange control and other laws applicable to the Plan. If on a Purchase Date the shares of Common Stock are not so registered or the Plan is not in such compliance, no Purchase Rights
will be exercised on such Purchase Date, and, subject to Section 423 of the Code with respect to the 423 Component, the Purchase Date will be delayed until the shares of Common Stock are subject to such an effective registration statement and
the Plan is in material compliance, except that the Purchase Date will in no event be more than 27 months from the Offering Date. If, on the Purchase Date, as delayed to the maximum extent permissible, the shares of Common Stock are not registered
and the Plan is not in material compliance with all Applicable Laws, as determined by the Company in its sole discretion, no Purchase Rights will be exercised and all accumulated but unused Contributions will be distributed to the Participants
without interest (unless the payment of interest is otherwise required by Applicable Law). 
  

	9.	 COVENANTS OF THE COMPANY.

 The Company will seek to obtain from each U.S. federal or state, foreign or other regulatory commission, agency or
other Governmental Body having jurisdiction over the Plan such authority as may be required to grant 

  
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Purchase Rights and issue and sell shares of Common Stock thereunder unless the Company determines, in its sole discretion, that doing so is not practical or would cause the Company to incur
costs that are unreasonable. If, after commercially reasonable efforts, the Company is unable to obtain the authority that counsel for the Company deems necessary for the grant of Purchase Rights or the lawful issuance and sale of Common Stock under
the Plan, and at a commercially reasonable cost, the Company will be relieved from any liability for failure to grant Purchase Rights and/or to issue and sell Common Stock upon exercise of such Purchase Rights. 

 

	10.	 DESIGNATION OF BENEFICIARY. 

(a) The Company may, but is not obligated to, permit a Participant to submit a form designating a beneficiary who will receive any
shares of Common Stock and/or Contributions from the Participant’s account under the Plan if the Participant dies before such shares and/or Contributions are delivered to the Participant. The Company may, but is not obligated to, permit the
Participant to change such designation of beneficiary. Any such designation and/or change must be on a form approved by the Company. 

(b) If a Participant dies, and in the absence of a valid beneficiary designation, the Company will deliver any shares of Common Stock
and/or Contributions to the executor or administrator of the estate of the Participant. If no executor or administrator has been appointed (to the knowledge of the Company), the Company, in its sole discretion, may deliver such shares of Common
Stock and/or Contributions, without interest (unless the payment of interest is otherwise required by Applicable Law), to the Participant’s spouse, dependents or relatives, or if no spouse, dependent or relative is known to the Company, then to
such other person as the Company may designate. 
  

	11.	 ADJUSTMENTS UPON CHANGES IN
COMMON STOCK; CORPORATE TRANSACTIONS. 

 (a) In the
event of a Capitalization Adjustment, the Board will appropriately and proportionately adjust: (i) the class(es) and maximum number of securities subject to the Plan pursuant to Section 3(a), (ii) the class(es) and maximum number of
securities by which the share reserve is to increase automatically each year pursuant to Section 3(a), (iii) the class(es) and number of securities subject to, and the purchase price applicable to outstanding Offerings and Purchase Rights, and
(iv) the class(es) and number of securities that are the subject of the purchase limits under each ongoing Offering. The Board will make these adjustments, and its determination will be final, binding and conclusive. 

(b) In the event of a Corporate Transaction, then: (i) any surviving corporation or acquiring corporation (or the surviving or
acquiring corporation’s parent company) may assume or continue outstanding Purchase Rights or may substitute similar rights (including a right to acquire the same consideration paid to the stockholders in the Corporate Transaction) for
outstanding Purchase Rights, or (ii) if any surviving or acquiring corporation (or its parent company) does not assume or continue such Purchase Rights or does not substitute similar rights for such Purchase Rights, then the
Participants’ accumulated Contributions will be used to purchase shares of Common Stock (rounded down to the nearest whole share) within ten business days (or such other period specified by the Board) prior to the Corporate Transaction under
the outstanding Purchase Rights, and the Purchase Rights will terminate immediately after such purchase. 
  

	12.	 AMENDMENT, TERMINATION OR SUSPENSION
OF THE PLAN. 

 (a) The Board may amend the Plan at any time in any
respect the Board deems necessary or advisable. However, except as provided in Section 11(a) relating to Capitalization Adjustments, stockholder approval will be required for any amendment of the Plan for which stockholder approval is required
by Applicable Law. 
 (b) The Board may suspend or terminate the Plan at any time. No Purchase Rights may be granted under the Plan
while the Plan is suspended or after it is terminated. 

  
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 Any benefits, privileges, entitlements and obligations under any outstanding Purchase Rights
granted before an amendment, suspension or termination of the Plan will not be materially impaired by any such amendment, suspension or termination except (i) with the consent of the person to whom such Purchase Rights were granted,
(ii) as necessary to facilitate compliance with any laws, listing requirements, or governmental regulations (including, without limitation, the provisions of Section 423 of the Code and the regulations and other interpretive guidance
issued thereunder relating to Employee Stock Purchase Plans) including without limitation any such regulations or other guidance that may be issued or amended after the date the Plan is adopted by the Board, or (iii) as necessary to obtain or
maintain favorable tax, listing, or regulatory treatment. To be clear, the Board may amend outstanding Purchase Rights without a Participant’s consent if such amendment is necessary to ensure that the Purchase Right and/or the Plan complies
with the requirements of Section 423 of the Code with respect to the 423 Component or with respect to other Applicable Laws. Notwithstanding anything in the Plan or any Offering Document to the contrary, the Board will be entitled to:
(i) establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars; (ii) permit Contributions in excess of the amount designated by a Participant in order to adjust for mistakes in the Company’s
processing of properly completed Contribution elections; (iii) establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each
Participant properly correspond with amounts withheld from the Participant’s Contributions; (iv) amend any outstanding Purchase Rights or clarify any ambiguities regarding the terms of any Offering to enable the Purchase Rights to qualify
under and/or comply with Section 423 of the Code with respect to the 423 Component; and (v) establish other limitations or procedures as the Board determines in its sole discretion advisable that are consistent with the Plan. The actions
of the Board pursuant to this paragraph will not be considered to alter or impair any Purchase Rights granted under an Offering as they are part of the initial terms of each Offering and the Purchase Rights granted under each Offering. 

 

	13.	 TAX QUALIFICATION; TAX WITHHOLDING.

 (a) Although the Company may endeavor to (i) qualify a Purchase Right for special tax treatment under
the laws of the United States or jurisdictions outside of the United States or (ii) avoid adverse tax treatment, the Company makes no representation to that effect and expressly disavows any covenant to maintain special or to avoid unfavorable
tax treatment, notwithstanding anything to the contrary in this Plan. The Company will be unconstrained in its corporate activities without regard to the potential negative tax impact on Participants. 

(b) Each Participant will make arrangements, satisfactory to the Company and any applicable Related Corporation, to enable the Company
or the Related Corporation to fulfill any withholding obligation for Tax-Related Items. Without limitation to the foregoing, in the Company’s sole discretion and subject to Applicable Law, such
withholding obligation may be satisfied in whole or in part by (i) withholding from the Participant’s salary or any other cash payment due to the Participant from the Company or a Related Corporation; (ii) withholding from the
proceeds of the sale of shares of Common Stock acquired under the Plan, either through a voluntary sale or a mandatory sale arranged by the Company; or (iii) any other method deemed acceptable by the Board. The Company shall not be required to
issue any shares of Common Stock under the Plan until such obligations are satisfied. 
 (c) The 423 Component is exempt from the
application of Section 409A of the Code, and any ambiguities herein shall be interpreted to so be exempt from Section 409A of the Code. The Non-423 Component is intended to be exempt from the
application of Section 409A of the Code under the short-term deferral exception and any ambiguities shall be construed and interpreted in accordance with such intent. In furtherance of the foregoing and notwithstanding any provision in the Plan
to the contrary, if the Committee determines that an option granted under the Plan may be subject to Section 409A of the Code or that any provision in the Plan would cause an option under the Plan to be subject to Section 409A, the
Committee may amend the terms of the Plan and/or of an outstanding option granted under the Plan, or take such other action the Committee determines is necessary or 

  
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appropriate, in each case, without the participant’s consent, to exempt any outstanding option or future option that may be granted under the Plan from or to allow any such options to comply
with Section 409A of the Code, but only to the extent any such amendments or action by the Committee would not violate Section 409A of the Code. Notwithstanding the foregoing, the Company shall have no liability to a participant or any
other party if the option under the Plan that is intended to be exempt from or compliant with Section 409A of the Code is not so exempt or compliant or for any action taken by the Committee with respect thereto. 

 

	14.	 EFFECTIVE DATE OF PLAN.

 The Plan will become effective immediately prior to and contingent upon the Effective Date. No Purchase Rights will
be exercised unless and until the Plan has been approved by the stockholders of the Company, which approval must be within 12 months before or after the date the Plan is adopted (or if required under Section 12(a) above, materially amended) by
the Board. 
  

	15.	 MISCELLANEOUS PROVISIONS. 

(a) Proceeds from the sale of shares of Common Stock pursuant to Purchase Rights will constitute general funds of the Company. 

(b) A Participant will not be deemed to be the holder of, or to have any of the rights of a holder with respect to, shares of Common
Stock subject to Purchase Rights unless and until the Participant’s shares of Common Stock acquired upon exercise of Purchase Rights are recorded in the books of the Company (or its transfer agent). 

(c) The Plan and Offering do not constitute an employment contract. Nothing in the Plan or in the Offering will in any way alter the at
will nature of a Participant’s employment or amend a Participant’s employment contract, if applicable, or be deemed to create in any way whatsoever any obligation on the part of any Participant to continue in the employ of the Company or a
Related Corporation or an Affiliate, or on the part of the Company, a Related Corporation or an Affiliate to continue the employment of a Participant. 

(d) The provisions of the Plan will be governed by the laws of the State of Delaware without resort to that state’s conflicts of
laws rules. 
 (e) If any particular provision of the Plan is found to be invalid or otherwise unenforceable, such provision will not
affect the other provisions of the Plan, but the Plan will be construed in all respects as if such invalid provision were omitted. 

(f) If any provision of the Plan does not comply with Applicable Law, such provision shall be construed in such a manner as to comply
with Applicable Law. 
  

	16.	 DEFINITIONS. 

As used in the Plan, the following definitions will apply to the capitalized terms indicated below: 

(a) “423 Component” means the part of the Plan, which excludes the
Non-423 Component, pursuant to which Purchase Rights that satisfy the requirements for an Employee Stock Purchase Plan may be granted to Eligible Employees. 

(b) “Affiliate” means any entity, other than a Related Corporation, whether now or subsequently established,
which is at the time of determination, a “parent” or “subsidiary” of the Company as such terms are defined in Rule 405 promulgated under the Securities Act. The Board may determine the time or times at which “parent” or
“subsidiary” status is determined within the foregoing definition. 

  
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 (c) “Applicable Law” means shall mean the Code and any
applicable securities, federal, state, foreign, material local or municipal or other law, statute, constitution, principle of common law, resolution, ordinance, code, edict, decree, rule, listing rule, regulation, judicial decision, ruling or
requirement issued, enacted, adopted, promulgated, implemented or otherwise put into effect by or under the authority of any Governmental Body (or under the authority of the NASDAQ Stock Market, the New York Stock Exchange or the Financial Industry
Regulatory Authority). 
 (d) “Board” means the board of directors of the Company. 

(e) “Capitalization Adjustment” means any change that is made in, or other events that occur with respect to,
the Common Stock subject to the Plan or subject to any Purchase Right after the date the Plan is adopted by the Board without the receipt of consideration by the Company through merger, consolidation, reorganization, recapitalization,
reincorporation, stock dividend, dividend in property other than cash, large nonrecurring cash dividend, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or other similar equity
restructuring transaction, as that term is used in Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto). Notwithstanding the foregoing, the conversion of any convertible securities of the
Company will not be treated as a Capitalization Adjustment. 
 (f) “Code” means the U.S. Internal
Revenue Code of 1986, as amended, including any applicable regulations and guidance thereunder. 
 (g)
“Committee” means a committee of one or more members of the Board to whom authority has been delegated by the Board in accordance with Section 2(c). 

(h) “Common Stock” means the common stock of the Company. 

(i) “Company” means IonQ, Inc., a Delaware corporation. 

(j) “Contributions” means the payroll deductions and other additional payments specifically provided for in the
Offering that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make additional payments into his or her account if specifically provided for in the Offering, and then only if the Participant has not already had
the maximum permitted amount withheld during the Offering through payroll deductions and, with respect to the 423 Component, to the extent permitted by Section 423 of the Code. 

(k) “Corporate Transaction” means the consummation, in a single transaction or in a series of related
transactions, of any one or more of the following events: 
 (i) a sale or other disposition of all or substantially all, as
determined by the Board in its sole discretion, of the consolidated assets of the Company and its subsidiaries; 
 (ii) a sale or
other disposition of more than 50% of the outstanding securities of the Company; 
 (iii) a merger, consolidation or similar
transaction following which the Company is not the surviving corporation; or 
 (iv) a merger, consolidation or similar transaction
following which the Company is the surviving corporation but the shares of Common Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation or similar
transaction into other property, whether in the form of securities, cash or otherwise. 

  
 10 

 (l) “Designated 423 Corporation” means any Related
Corporation selected by the Board to participate in the 423 Component. 
 (m) “Designated Company”
means any Designated Non-423 Corporation or Designated 423 Corporation, provided, however, that at any given time, a Related Corporation participating in the 423 Component shall not be a Related
Corporation participating in the Non-423 Component. 
 (n) “Designated Non-423 Corporation” means any Related Corporation or Affiliate selected by the Board to participate in the Non-423 Component. 

(o) “Director” means a member of the Board. 

(p) “Effective Date” means the effective date of this Plan, which is the date of the closing of the
transactions contemplated by the Agreement and Plan of Merger by and among the Company, dMY Technology Group, Inc. III (“dMY”) and Ion Trap Acquisition Inc., a Delaware corporation and a direct, wholly owned subsidiary of
dMY, dated as of March 7, 2021, provided that this Plan is approved by the Company’s stockholders prior to such date. 

(q) “Eligible Employee” means an Employee who meets the requirements set forth in the document(s)
governing the Offering for eligibility to participate in the Offering, provided that such Employee also meets the requirements for eligibility to participate set forth in the Plan. 

(r) “Employee” means any person, including an Officer or Director, who is “employed” for
purposes of Section 423(b)(4) of the Code by the Company or a Related Corporation, or solely with respect to the Non-423 Component, an Affiliate. However, service solely as a Director, or payment of a fee
for such services, will not cause a Director to be considered an “Employee” for purposes of the Plan. 
 (s)
“Employee Stock Purchase Plan” means a plan that grants Purchase Rights intended to be options issued under an “employee stock purchase plan,” as that term is defined in Section 423(b) of the Code. 

(t) “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended and the rules and
regulations promulgated thereunder. 
 (u) “Fair Market Value” means, as of any date, the value of the Common
Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or traded on any established
market, the Fair Market Value of a share of Common Stock will be the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in the Common Stock) on the date of
determination, as reported in such source as the Board deems reliable. Unless otherwise provided by the Board, if there is no closing sales price for the Common Stock on the date of determination, then the Fair Market Value will be the closing sales
price on the last preceding date for which such quotation exists. 
 (ii) In the absence of such markets for the Common Stock, the
Fair Market Value will be determined by the Board in good faith in compliance with Applicable Laws and regulations and, to the extent applicable as determined in the sole discretion of the Board, in a manner that complies with Sections 409A of the
Code 
 (v) “Fully-Diluted Common Stock” means, as of any date, the aggregate number of (i) shares of
Common Stock issued and outstanding and (ii) securities convertible into or exercisable for shares of Common Stock (whether vested or unvested). 

  
 11 

 (w) “Governmental Body” means any:
(a) nation, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature; (b) federal, state, local, municipal, foreign or other government; (c) governmental or regulatory body, or
quasi-governmental body of any nature (including any governmental division, department, administrative agency or bureau, commission, authority, instrumentality, official, ministry, fund, foundation, center, organization, unit, body or entity and any
court or other tribunal, and for the avoidance of doubt, any tax authority) or other body exercising similar powers or authority; or (d) self-regulatory organization (including the NASDAQ Stock Market, the New York Stock Exchange and the
Financial Industry Regulatory Authority). 
 (x) “Non-423 Component” means the part
of the Plan, which excludes the 423 Component, pursuant to which Purchase Rights that are not intended to satisfy the requirements for an Employee Stock Purchase Plan may be granted to Eligible Employees. 

(y) “Offering” means the grant to Eligible Employees of Purchase Rights, with the exercise of those
Purchase Rights automatically occurring at the end of one or more Purchase Periods. The terms and conditions of an Offering will generally be set forth in the “Offering Document” approved by the Board for that Offering. 

(z) “Offering Date” means a date selected by the Board for an Offering to commence. 

(aa) “Officer” means a person who is an officer of the Company or a Related Corporation within
the meaning of Section 16 of the Exchange Act. 
 (bb) “Participant” means an Eligible Employee
who holds an outstanding Purchase Right. 
 (cc) “Plan” means this IonQ, Inc. 2021 Employee Stock
Purchase Plan, as amended from time to time, including both the 423 Component and the Non-423 Component. 

(dd) “Purchase Date” means one or more dates during an Offering selected by the Board on which Purchase
Rights will be exercised and on which purchases of shares of Common Stock will be carried out in accordance with such Offering. 

(ee) “Purchase Period” means a period of time specified within an Offering, generally beginning on the Offering
Date or on the first Trading Day following a Purchase Date, and ending on a Purchase Date. An Offering may consist of one or more Purchase Periods. 

(ff) “Purchase Right” means an option to purchase shares of Common Stock granted pursuant to the Plan.

 (gg) “Related Corporation” means any “parent corporation” or “subsidiary
corporation” of the Company whether now or subsequently established, as those terms are defined in Sections 424(e) and (f), respectively, of the Code. 

(hh) “Securities Act” means the U.S. Securities Act of 1933, as amended. 

(ii) “Tax-Related Items” means any income tax, social insurance,
payroll tax, fringe benefit tax, payment on account or other tax-related items arising out of or in relation to a Participant’s participation in the Plan, including, but not limited to, the exercise of a
Purchase Right and the receipt of shares of Common Stock or the sale or other disposition of shares of Common Stock acquired under the Plan. 

(jj) “Trading Day” means any day on which the exchange(s) or market(s) on which shares of Common Stock
are listed, including but not limited to the New York Stock Exchange, Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or any successors thereto, is open for trading. 

  
 12EX-10.20

 Exhibit 10.20 

AMENDED AND RESTATED OFFICE LEASE 

UNIVERSITY OF MARYLAND, 

COLLEGE PARK 
 and

 IONQ, INC. 

March 12, 2020 

 TABLE OF CONTENTS 

							
	 	  	 	  	Page	 
	 BASIC LEASE PROVISIONS
	  	 	4	 
	 STANDARD LEASE PROVISIONS
	  	 	8	 
	 ARTICLE 1
	  	 PREMISES
	  	 	8	 
	 ARTICLE 2
	  	 TERM
	  	 	8	 
	 ARTICLE 3
	  	 RENT; LATE CHARGES
	  	 	8	 
	 ARTICLE 4
	  	 SECURITY DEPOSIT
	  	 	9	 
	 ARTICLE 5
	  	 USE OF PREMISES
	  	 	10	 
	 ARTICLE 6
	  	 UTILITIES AND SERVICES
	  	 	12	 
	 ARTICLE 7
	  	 MAINTENANCE AND REPAIRS
	  	 	12	 
	 ARTICLE 8
	  	 ALTERATIONS
	  	 	14	 
	 ARTICLE 9
	  	 MECHANIC’S LIENS
	  	 	15	 
	 ARTICLE 10
	  	 SURRENDER
	  	 	15	 
	 ARTICLE 11
	  	 INSURANCE; WAIYER; INDEMNIFICATION
	  	 	15	 
	 ARTICLE 12
	  	 DAMAGE OR DESTRUCTION
	  	 	19	 
	 ARTICLE 13
	  	 CONDEMNATION
	  	 	19	 
	 ARTICLE 14
	  	 EDUCATIONAL PURPOSE; AFFILIATE STATUS
	  	 	20	 
	 ARTICLE 15
	  	 ASSIGNMENT AND SUBLETTING
	  	 	21	 
	 ARTICLE 16
	  	 DEFAULT AND REMEDIES
	  	 	23	 
	 ARTICLE 17
	  	 SIGNS
	  	 	26	 
	 ARTICLE 18
	  	 QUIET ENJOYMENT
	  	 	26	 
	 ARTICLE 19
	  	 PARKING
	  	 	26	 
	 ARTICLE 20
	  	 NO SMOKING FACILITY
	  	 	26	 
	 ARTICLE 21
	  	 ESTOPPEL CERTIFICATES
	  	 	26	 
	 ARTICLE 22
	  	 ENTRY BY LANDLORD
	  	 	26	 
	 ARTICLE 23
	  	 LANDLORD’S LEASE UNDERTAKINGS; TRANSFER OF LANDLORD’S INTEREST
	  	 	27	 
	 ARTICLE 24
	  	 HOLDOVER TENANCY
	  	 	27	 
	 ARTICLE 25
	  	 NOTICES
	  	 	28	 
	 ARTICLE 26
	  	 BROKERS
	  	 	28	 
	 ARTICLE 27
	  	 RIGHTS RESERVED BY LANDLORD
	  	 	28	 
	 ARTICLE 28
	  	 MISCELLANEOUS
	  	 	28	 
	 ARTICLE 29
	  	 KNOWLEDGE
	  	 	32	 
	 ARTICLE 30
	  	 OFAC
	  	 	32	 

  
 2 

							
	 EXHIBIT A
	  	 Premises
	  	 	34	 
	 EXHIBIT B
	  	 Work Letter
	  	 	35	 
	 EXHIBIT C
	  	 Notice of Lease Term Dates
	  	 	40	 
	 EXHIBIT D
	  	 Form of Estoppel Certificate
	  	 	41	 

  
 3 

 AMENDED AND RESTATED OFFICE LEASE 

THIS AMENDED AND RESTATED OFFICE LEASE (“Lease”) is made and entered into by and between the UNIVERSITY OF MARYLAND, COLLEGE
PARK, a public corporation and instrumentality of the State of Maryland (“Landlord”) and IONQ, INC., a Delaware corporation (“Tenant”), as of March 12, 2020 (the “Effective Date”).  

RECITALS 
 WHEREAS,
Landlord and Flexel, LLC (“Flexel”) entered into an Office Lease dated May 18, 2015 (the “Original Lease”), under which Landlord leased 10,932 rentable square feet of space (the
“Original Premises”) in Landlord’s building at 4505 Campus Drive, College Park, Maryland 20740 (the “Building”) to Flexel for a ten-year term having
commenced on December 1, 2015 and ending November 30, 2025; and 
 WHEREAS, pursuant to an Assignment, Assumption of Lease
and First Amendment to Lease dated April 1, 2017, Flexel assigned its interest in the Original Lease to Tenant and made certain minor modifications to the terms of the Original Lease; and 

WHEREAS, the Tenant requires additional space and the Landlord has agreed to lease to Tenant an additional 21,169 rentable square feet
(the “Expansion Premises”) as identified on Exhibit A, such that, for purposes of this Lease, the Premises shall be both the Original Premises and the Expansion Premises as shown on Exhibit A; and 

WHEREAS, the parties have agreed upon other modifications to the Original Lease, including an extension of the term, all as
memorialized in this Lease. 
 BASIC LEASE PROVISIONS 

1. Tenant: IonQ, Inc., a Delaware corporation qualified to transact business in Maryland. 

2. Description of Premises and Building:  

Approximately 32,101 rentable square feet of space, as shown on Exhibit A in the Building, including together the Original Premises and
the Expansion Premises 
 The Premises include both the Building as well as the exclusive right to use all of the land and improvements
thereon associated with the Building including, but not limited to, the exterior sidewalk areas, accessways and parking areas adjacent to the Building, either existing or as modified or built as part of the “Improvements”, as defined in
Exhibit B, (the “Outside Areas”).  
 3. Term (Article 2): 

The period of ten years beginning on the Rent Commencement Date and expiring on the last day of the tenth year (the “Lease Term”).
Pursuant to Exhibit B, Landlord has granted Tenant access to the Expansion Premises as described in Exhibit A to allow Tenant entry to the Expansion Premises to construct the 

  
 4 

 
Improvements. Except as specifically provided in Section 3.3 below, until the Rent Commencement Date, the Original Lease shall continue to govern the parties’ relationship, and their
rights, duties and obligations with respect to the Original Premises. On the Rent Commencement Date, this Lease shall fully amend and restate the Original Lease for all purposes, all with the intent and effect that on such date the Original Lease
shall thereupon be terminated and replaced and superseded by this Lease. The first Lease Year, and the obligation to pay rent, commences on the Rent Commencement Date. The Term ends on the Expiration Date, unless terminated according to this Lease.
The “Rent Commencement Date” is the earliest to occur of (1) the date Tenant has taken beneficial occupancy of the Expansion Premises to operate its business, not including Tenant’s entry to complete the build-out and finishing work planned for the Expansion Premises, atid placing furniture and installing Tenant’s equipment in the Expansion Premises, or (2) the Ready for Occupancy Date (defined in Article
2), or (3) December 1, 2020. The “Expiration Date” is the last day of the tenth Lease Year. “Lease Year” means each consecutive twelve (12) month period during the Term; however, the ftrst Lease Year will
commence on the Rent Commencement Date and end on the last day of the month in which the first anniversary of the Rent Commencement Date occurs and the second and each succeeding Lease Year will commence on the first day of the next month. At any
time during the Lease Term, Landlord may deliver to Tenant a “Notice of Lease Term Dates” in the form as set forth in Exhibit C, which, if factually correct and accurate, Tenant will execute and return to Landlord within five (5)
business days after receipt. 
 Tenant shall have the “Option to Terminate” this Lease with an effective termination date on the
first day of a new Lease Year, starting with the first day of the sixth Lease Year, subject to the following conditions: 
 (a) Tenant shall
provide Landlord with not less than one hundred twenty (120) days written notice of early termination. 
 (b) Along with the notice of
early termination, and as a condition to the effectiveness of the termination, Tenant shall pay Landlord a Termination Fee pursuant to the following schedule: 
  

					
	 Date of Termination {first day of}
	  	Termination Fee	 
	 Lease Year 6
	  	$	2,500,000.00	 
	 Lease Year 7
	  	$	2,000,000.00	 
	 Lease Year 8
	  	$	1,500,000.00	 
	 Lease Year 9
	  	$	1,000,000.00	 
	 Lease Year 10
	  	$	500,000.00	 

  
 5 

 4. Base Rent (Article 3): The following is the Base Rent Schedule for the Lease Term.

  

									
	 Lease Year
	  	Base Rent
(Annual)	 	  	Monthly
Base Rent	 
	 First Lease Year
	  	$	684,472.00	 	  	$	57,039.33	 
	 Second Lease Year
	  	$	705,005.75	 	  	$	58,750.48	 
	 Third Lease Year
	  	$	726,155.80	 	  	$	60,512.98	 
	 Fourth Lease Year
	  	$	747,940.45	 	  	$	64,198.20	 
	 Fifth Lease Year
	  	$	770,378.40	 	  	$	64,198.23	 
	 Sixth Lease Year
	  	$	793,489.75	 	  	$	66,124.15	 
	 Seventh Lease Year
	  	$	817,294.44	 	  	$	68,107.87	 
	 Eighth Lease Year
	  	$	841,813.28	 	  	$	70,151.11	 
	 Ninth Lease Year
	  	$	867,067.68	 	  	$	72,255.64	 
	 Tenth Lease Year
	  	$	893,079.71	 	  	$	74,423.31	 

 5. Construction Allowance: Five Million One Hundred Fifty Thousand Dollars ($5,150,000.00). 

6. Security Deposit: Fifty-Seven Thousand Dollars ($57,000) (Article 4). 

7. Brokers (Article 26): For Landlord: NONE. For Tenant: Cushman & Wakefield U.S., Inc. 

8. Permitted Use: General office use, light manufacturing, wet and dry labs, and operations related to the development of quantum
computers, as long as such uses are and continue to be in compliance with the zoning of the Premises and the Zoning Ordinances and Use Tables of the Prince George’s County and all other applicable Laws. (Section 5.1). 

9. Addresses for Notices (Article 25): 
  

	 	To:	 Tenant 

IonQ, Inc. 
 Attn: Mahsa
Dornajafi, VP Finance & Operations 
 4505 Campus Drive 

College Park, MD 20740 
 With a
copy to: 
 Cooley LLP 
 1299
Pennsylvania Avenue, NW 
 Washington, DC 20004 

Attn: Alex Weaver 

  
 6 

	 	To:	 Landlord 

Office of the Vice President for 

Administration & Finance 

University of Maryland, College Park 

2119 Main Administration Building 

7901 Regents Drive 
 College Park,
MD 20742 
 Attn: Real Estate Office 

With a copy to: 
 Office of the
General Counsel 
 University of Maryland, College Park 

4716 Pontiac Street 
 Room 2117
Seneca Bldg. 
 College Park, MD 20742 

Attn: Real Estate Counsel 
 The
Standard Lease Provisions begin on the next page. 

  
 7 

 STANDARD LEASE PROVISIONS 

ARTICLE 1 
 PREMISES

 Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord for the Term according to the terms, covenants
and conditions of this Lease. Except as set forth in this Lease, Landlord has not made any representation or warranty with respect to the condition of the Premises or the Building or their suitability or fitness for the conduct of the Permitted Use,
and Tenant acknowledges that it has had a full opportunity to inspect the Premises and has occupied part of the Premises and that Tenant hereby is accepting the entire Premises in their AS IS, WHERE IS condition; provided, however,
that the Expansion Premises, within five (5) business days of the Effective Date, shall be delivered to Tenant in broom clean condition. 

ARTICLE 2 
 TERM 

The Term will commence on the Rent Commencement Date. Except as specifically provided in Section 3.3 below, until the Rent Commencement
Date, the Original Lease shall continue to govern the parties’ relationship, and their rights, duties and obligations with respect to the Original Premises. On the Rent Commencement Date, this Lease shall fully amend and restate the Original
Lease for all purposes. On the Rent Commencement Date, this Lease shall be effective and fully amend and restate the Original Lease for all purposes, all with the intent and effect that on such date the Original Lease shall thereupon be terminated
and replaced and superseded by this Lease. The Tenant’s obligation to pay rent will commence on the Rent Commencement Date. Between the Effective Date and the Rent Commencement Date, Exhibit B of this Lease will be effective and
shall provide and govern and control Tenant’s right, along with Tenant Parties (defined below), to enter the Expansion Premises for the purpose of completing the Improvements and Landlord’s obligations with regard to such construction
period, including Landlord’s obligation to fund the Construction Allowance. For purposes of determining the Rent Commencement Date, Tenant is deemed to be in beneficial occupancy of the Expansion Premises for the Permitted Use when Tenant takes
possession of any part of the Expansion Premises for any purpose other than constructing the Improvements and placing furniture and installing Tenant’s equipment in the Expansion Premises. When the Ready for Occupancy Date is determined,
Landlord and Tenant will confirm the date in writing, signed by both parties, and any resulting change in the Term under this Article 2. The “Ready for Occupancy Date” is the date on which the Improvements have been substantially
completed according to Exhibit B and any necessary occupancy permits have been obtained. 
 Notwithstanding anything to the contrary
contained herein, Tenant has the Option to Terminate this Lease as set forth in Section 3 of the Basic Lease Provisions. 
 ARTICLE 3

 RENT; LATE CHARGES 

3.1 Base Rent; Rent. Tenant agrees to pay Base Rent for the Premises as set forth in Section 4 of the Basic Lease Provisions.
Tenant will pay Base Rent in consecutive, monthly installments, in advance, commencing on the Rent Commencement Date and continuing on the later of the first day of each calendar month of each Lease Year of the Term or five (5) days after the
date Landlord provides Tenant with an 

  
 8 

 
invoice. Landlord may send Tenant invoices, in batches in advance of any payment due date and, also, may send separate invoices for Base Rent and any additional rent payments. If the Rent
Commencement Date is a day other than the first day of a month, the Base Rent for the first Lease Year will be increased to add an amount, calculated on a per diem basis, for the period from the Rent Commencement Date through the end of the month in
which the Rent Commencement Date occurs. All amounts (other than Base Rent), payable by Tenant to Landlord are deemed to be “Additional Rent.” Base Rent and Additional Rent are sometimes together referred to in this Lease as
“Rent.” Rent will be payable to Landlord when due without any prior notice or demand in lawful money of the United States and without any abatement, offset, or deduction whatsoever, and at Landlord’s Address or to such other
person or to such other place as Landlord may from time to time designate in writing to Tenant. 
 3.2 Late Charge; Interest. The
late payment of Rent will cause Landlord to incur administrative costs and other damages, the exact amount of which would be impracticable or extremely difficult to ascertain. Landlord and Tenant agree that if Landlord does not receive any such
payment on or before the date five (5) business days after the date the payment is due, Tenant will pay to Landlord, as Additional Rent, a late charge (“Late Charge”) equal to five percent (5%) of the overdue amount to cover
additional administrative costs. For any amount that is not paid within 60 days of the date it is due, interest on such delinquent amounts will accrue at the rate often percent (10%) per annum (the “Interest Rate”) from date that is
60 days after the date due until the date paid. No payment by Tenant or receipt by Landlord of a lesser amount than the correct Rent will be other than a payment on account, nor will any endorsement or statement on any check or any letter
accompanying any payment be an accord and satisfaction. Landlord may accept such a partial payment without prejudice to Landlord’s right to pursue any other remedy in this Lease. Notwithstanding the foregoing, a Late Charge shall not be
assigned against the first late payment in any twelve (12) month period. 
 3.3 Rent Abatement under the Original Lease. Upon
the parties’ full execution of this Lease, Base Rent for the Existing Premises under the Original Lease shall be abated for six (6) full months after the Effective Date of this Lease in the amount of $12,560.00 per month. In the Event of
Default under the Original Lease or this Lease, the entire amount of the Base Rent abated pursuant to this Section shall be due and owing by Tenant as Rent and immediately payable to Landlord without demand therefor. 

ARTICLE 4 
 SECURITY
DEPOSIT 
 The Security Deposit secures the faithful performance of the terms, covenants and conditions of this Lease by Tenant. The
Security Deposit is not an advance payment of Rent or a measure or limit of Landlord’s damages upon an Event of Default. If an Event of Default occurs, Landlord may, but will not be required to, use, apply, or retain all or any part of the
Security Deposit (a) for the payment of any Rent, (b) for the payment of any other amount that Landlord may spend or become obligated to spend by reason of such default by Tenant, and (c) for any other loss or damages that Landlord
may suffer by reason of such default by Tenant. If any portion of the Security Deposit is so used or applied, Tenant will, upon demand by Landlord, deposit with Landlord cash in an amount sufficient to restore the Security Deposit fully. At the end
of this Lease, if no Event of Default exists, Landlord will return to Tenant the remaining portion of the Security Deposit within thirty (30) days after the date Landlord receives possession of the Premises in accordance with the provisions of
this Lease. The Security Deposit may be commingled with Landlord’s other funds, and no interest will be paid on it. If Landlord transfers its interest in the Premises, then Landlord may assign the Security Deposit to the transferee and Landlord
will have no further liability or obligation for the return of the Security Deposit. Tenant waives the provisions of any Laws, whether now or in the future in effect, or common law rule, to the contrary of this Article. 

  
 9 

 ARTICLE 5 

USE OF PREMISES 
 5.1
Tenant’s Permitted Use. Tenant will use the Premises for the Permitted Use and no other purpose, without the Landlord’s prior written consent, which consent shall not be unreasonably withheld, conditioned, or delayed. 

5.2 Compliance with Laws and Other Requirements. 

(a) Within five (5) business days of receipt of Tenant’s notice requesting delivery of the Expansion Premises at any time after the
Effective Date of this Lease, Landlord shall tender the Expansion Premises to Tenant in their AS IS, WHERE IS, broom clean condition with any existing moveable personal property removed therefrom. Tenant currently occupies the Original
Premises and accepts them in their AS IS, WHERE IS condition. Tenant, at its sole cost, will obtain and maintain in full force and effect all governmental licenses, approvals, and permits required to allow Tenant to conduct the work related
to the Improvements and the Permitted Use. Landlord represents, to its knowledge, that as of the Effective Date, Landlord has not received any written notices of violations relating to the Expansion Premises. Tenant will timely take all action
required to cause the Premises to comply in all respects with all Federal, State and local laws, ordinances, building codes, rules, regulations, orders, and directives, including those of any governmental authority and courts having jurisdiction,
and recorded documents (including, without limitation, any certificate of occupancy) now or in the future applicable to the Premises (collectively the “Laws”). 

(b) Tenant will not use the Premises, or permit the Premises to be used, in any manner, or do or suffer any act in or about the Premises
which: (i) violates or conflicts with any applicable Laws, including any licenses, permits and use and occupancy certificates; (ii) causes or is reasonably likely to cause damage to the Building, the Premises, or the Building systems,
including, without limitation, the life safety, electrical, heating, ventilation and air conditioning (“HVAC”), mechanical, plumbing or sprinkler systems (collectively, the “Building Systems”); (iii) violates a
requirement or condition of any policy of insurance covering the Building or the Premises, or increases the cost of such policy; (iv) constitutes or is reasonably likely to constitute a nuisance in Landlord’s reasonable judgment;
(v) interferes with, or is reasonably likely to interfere with, the transmission or reception of microwave, television, radio, telephone, or other communication signals by antennas or other facilities located in the Building; or ( vi) violates
any instrument now or hereafter of record and affecting the Premises, the Building, or any of them, or any part of them. 
 5.3 Hazardous
Materials. No Hazardous Materials will be Handled (defined below) upon, about, in, above, or beneath the Premises or any portion of the Building by or on behalf of Tenant and its officers, managers, directors, employees, contractors, agents,
successors and assigns (collectively, “Tenant Parties”); provided however, quantities of those Hazardous Materials customarily used in the conduct of the Permitted Use, may be used and stored at the Premises without Landlord’s
prior written consent, but only in compliance with all applicable Environmental Laws ( defined below), and with the highest prevailing industry standards. Tenant will, at its sole cost and expense, promptly take all reasonable actions ( or at
Landlord’s election, reimburse Landlord for taking all actions) required by any Law that arises in connection with Tenant’s Handling of Hazardous Materials. Such actions will include, but not be limited to, the investigation of the
environmental condition of the Premises or any portion of the Building, the preparation 

  
 10 

 
of any feasibility studies or reports, and the performance of any cleanup, remediation, removal, or restoration work. Tenant will maintain and/or restore the Premises or any portion of the
Building and the surrounding land in accordance with applicable Environmental Laws to the extent required due to Tenant’s Handling of Hazardous Materials. “Environmentai Laws” means all Laws regulating, relating to, or imposing
liability or standards of conduct concerning public health and safety or the environment. ‘‘Hazardous Materials” means: (a) any material or substance: (i) that is defined or becomes defined as a “hazardous
substance,” “hazardous waste,” “infectious waste,” “chemical mixture or substance,” or “air pollutant” under Environmental Laws; (ii) containing petroleum, crude oil,
or any fraction of them; (iii) containing polychlorinated biphenyls (PCB’s); (iv) that constitutes asbestos or asbestos-containing material; (v) that is radioactive; (vi) that is infectious; or (b) any other material or
substance displaying toxic, reactive, ignitable, or corrosive characteristics, as all such terms are used in their broadest sense. “Handle” (and corresponding terms “Handled” and “Handling”) means any
installation, handling, generation, storage, treatment, use, disposal, discharge, release, manufacture, refinement, presence, migration, emission, abatement, removal, transportation, or any other activity of any type in connection with or involving
Hazardous Materials. 
 Landlord hereby represents to Tenant that Landlord, to its knowledge, is delivering possession of the Expansion
Premises to Tenant free of Hazardous Materials and in compliance with all Environmental Laws. Tenant currently occupies the Original Premises, so Landlord makes no representations as to the Original Premises. If any Hazardous Material is found, or
is otherwise released, discharged, disposed of, or permitted to spill or leak on or about the Building and is not caused by Tenant or Tenant’s Parties, Landlord shall ensure, at no cost to Tenant, that such release, discharge, disposal, spill
or leak is removed from the Premises, in accordance with the Environmental Laws. Subject to the terms and provisions of Section 28.19 of this Lease, Landlord shall indemnify, defend and hold Tenant and Tenant Parties harmless from Environmental
Damages ( defined in Section 5 .5 below) relating to environmental conditions affecting the Premises, which damages are not in any way the result of, or related to, the acts, omissions or negligence of Tenant or Tenant’s Parties. 

Tenant shall promptly notify Landlord of the use of any chemical in the Premises that has an NFPA 704M rating of 4 in either the health, fire
or reactivity category. 
 5.4 Taxes. Tenant will pay directly to the taxing authority any tax on leasehold interests on property
owned by the State of Maryland (the “State”) pursuant to Maryland Annotated Code, Tax-Property Article Section 6-102(e), as amended, to the extent the
same is assessed against Landlord and is directly attributable to Tenant’s occupancy in the Premises, as well as any and all taxes, impositions or similar fees or charges imposed or assessed or with respect to any of Tenant’s fixtures,
equipment, or other personal property located in or about the Premises, but Tenant shall have no obligation to pay any other such tax, imposition, or similar fee or charge with respect to this Lease. Not later than ninety (90) days after the
Rent Commencement Date, Tenant shall provide Landlord with reasonably satisfactory evidence that it is complying with the tax requirements herein. 

5.5 Waiver of Liability; Indemnification. Tenant waives all claims and causes of action against Landlord, its partners, property
managers, advisors, mortgagees, and ground landlords and each of their respective officers, managers, directors, employees, contractors, agents, successors and assigns (collectively, “Landlord Parties”) for any damage to persons or
property in any way relating to Tenant’s use and occupancy of the Premises, or the condition of the Premises or Building, or land beneath all or any part of any of them, except to the extent such claim arises out of Landlord’s or Landlord
Parties’ gross negligence or willful misconduct. Tenant will indemnify, defend, protect and hold harmless Landlord and 

  
 11 

 
each of the Landlord Parties ( except to the extent the losses described below are solely caused by the negligence or willful misconduct of a Landlord Party), from and against any and all
third-party claims, demands, losses, damages, obligations, liabilities, costs, and expenses (including, but not limited to, reasonable attorneys’ fees and legal costs) (collectively, “Claims, Damages and Costs”) that arise out
of, is occasioned by, or is in any way attributable to (a) the use or occupancy of the Premises by Tenant, or (b) the acts or omissions of Tenant or any Tenant Party, or (c) an Event of Default by Tenant, including without limitation
all Environmental Damages that arise from the Handling of Tenant’s Hazardous Materials. “Environmental Damages” means (i) all claims, judgments, damages, penalties, fines, costs, liabilities, and losses; (ii) all sums
paid for settlement of claims, reasonable attorneys’ fees, consultants’ fees, and experts’ fees; and (iii) all costs incurred by Landlord in connection with investigation or remediation relating to the Handling of Tenant’s
Hazardous Materials. 
 Subject to the terms and provisions of Section 28.19 of this Lease, Landlord will indemnify, defend, protect
and hold Tenant harmless from any Claims, Damages and Costs that solely arise out of (1) a breach of this Lease by Landlord or (2) any claim incurred or in any way related to or connected with the operation of the Building by Landlord or
Landlord’s Parties. 
 ARTICLE 6 

UTILITIES AND SERVICES 

6.1 Connection and Costs. Tenant will, at Tenant’s own expense, obtain all utility services supplying the Premises, including but
not limited to electricity, water, sewer, standby water for sprinkler, gas, telephone, and all other utilities and other communication services, in its own name, effective as of the Rent Commencement Date, and will pay the cost directly to the
applicable utility. Upon the Effective Date, Tenant will pay all utility charges for the Building and Premises. 
 6.2 Interruption of
Services. Landlord will not be liable for any failure to furnish, stoppage of, change in, or interruption in furnishing any of the services or utilities described in Section 6.1 or any cause beyond Landlord’s reasonable control. In any
such event, Tenant will not be entitled to any damages nor will any failure or interruption abate or suspend Tenant’s obligation to pay Rent or constitute a constructive or other eviction of Tenant, except that if Tenant is unable to use the
Premises for five (5) or more consecutive days, Rent shall be abated. If any Law controls the use or conservation of energy, water, gas, light, or electricity, the reduction of automobile or other emissions, or the provision of any other
utility or service, Landlord may take any reasonably appropriate action to comply with the Law. Security services provided by Landlord at the Building are for the protection of Landlord’s property and under no circumstances will Landlord be
responsible for, and Tenant waives any rights with respect to, providing security or other protection for Tenant, Tenant Parties or guests in the Building. 

ARTICLE 7 
 MAINTENANCE
AND REPAIRS 
 7.1 Tenant’s Obligations. Except for the obligations of Landlord as provided for in this Lease, Tenant will,
at its sole cost and expense, maintain the Premises in good order and repair and in a safe, clean, and neat condition. Tenant will provide all janitorial and cleaning services and make all repairs to the Premises with replacements of any materials
to be made by use of materials of equal or better quality. Further, Tenant will be responsible for, and upon demand promptly reimburse Landlord for, any damage to any portion of the Building or the Premises caused by (a) the performance or
existence of any alterations, additions, or improvements made by Tenant or for Tenant, including without limitation the Improvements; (b) the 

  
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installation, use, operation, or movement of Tenant’s property in or about the Building or the Premises; or (c) any negligent act or omission by Tenant or any person permitted in or
invited to the Premises or the Building by Tenant. Tenant shall be solely responsible for the maintenance, repair and replacement of the Improvements as well as all Building Systems serving the Premises. 

7.2 Landlord’s Rights. Landlord and its contractors will have the right, with at least one (1) business day’s prior
written notice, to enter upon the Premises to inspect the Premises and perform any of the Landlord’s Obligations defined in Section 7.3 and to erect such equipment, including scaffolding, as is reasonably necessary to effect such repairs.
Such repairs shall be timely made and completed in a good and worlananlike manner. In the event of an emergency, Landlord may enter the Premises on less than one (1} business days’ notice, giving only such advance notice as may be appropriate
given the circumstances of the emergency. In addition, in the event of any failure of Tenant to perform any of its obligations under this Lease, where Tenant has failed to commence to cure within thirty (30) days after delivery by Landlord to
Tenant of written notice of such failure (or in the case of an emergency, after such oral or written notice, if any, as may be practical under the circumstances), Landlord may (but will not be obligated to) elect to perform such obligation of Tenant
at Tenant’s sole cost and expense, and in the event of such performance by Landlord, Tenant will pay to Landlord within ten (10) days of written demand one hundred ten percent (110%) of Landlord’s actual direct and indirect costs
(including interest, overhead, general conditions, and administration) in performing obligations of Tenant. Notwithstanding the foregoing, if entry into the Premises by Landlord shall be requested in any area of the Premises used for other than
office purposes, such entry shall only be permitted if Landlord is accompanied by a representative of Tenant. 
 7.3 Landlord’s
Obligations. Landlord shall maintain, repair or replace, as necessary: (a) the structural and exterior portions of the Building including roofing and covering materials, foundations, and exterior walls and windows, (b) the life-safety
sprinklers and fire panel (including associated monitoring of the fire panel and elevator safety) within the Building, (c) snow removal from all entrances, driveways and parking areas associated with the Building, and ( d) continue to perform
the landscaping of the outdoor areas. in a manner consistent with that as has been previously provided. Tenant shall provide prompt notice to Landlord when such maintenance, repairs and/or replacements are required, and Landlord will respond in a
commercially reasonable time to complete the work which it is obligated to complete under this Section. Tenant shall not incur any costs or expense for Landlord’s work, except in the event that Tenant’s wrongful or negligent acts or
omissions solely caused the need for such maintenance, repairs and/or replacements. 
 7.4 Rent Adjustment for Certain Landlord Obligation.
The Landlord’s Obligations described in Section 7.3, with respect to the Expansion Premises, do not commence until the Rent Commencement Date. Between the Effective Date and the Rent Commencement Date, entry to the Expansion Premises is
governed by the license provided in Exhibit B. If, however, during construction of the Improvements, the Tenant elects to undertake the repair or replacement of structural and exterior portions of the Building including roofing and
covering materials, foundations, and exterior walls and windows, then in that event, Tenant shall undertake such repair or replacement (the “Landlord’s Obligation Pre-Occupancy
Improvements”) as an “Improvement” to be done to “Building Standard” as those terms are defined in Exhibit B and-for those Landlord’s Obligation
Pre-Occupancy Improvements only-Tenant shall be entitled to a rent credit, calculated as follows: 
  

	 	a.	 Tenant shall separately account for, and provide Landlord with reasonably acceptable evidence of the
stand-alone cost of the Landlord’s Obligation Pre-Occupancy Improvements. 

  
 13 

	 	b.	 This total cost which, for purposes of calculating a rent credit, is capped at a maximum of $175,000;

  

	 	c.	 The total cost shall then be amortized, at an interest rate of 5%, over 36 months. 

 

	 	d.	 That amortized amount shall be deducted from each monthly installment of Base Rent. 

 

	 	e.	 As an illustration, if the Landlord’s Obligation Pre-Occupancy
Improvements undertaken by Tenant cost $150,000, then the credit is calculated by amortizing that $150,000 over 36 months at 5% interest, such that the monthly credit to Base Rent is $4,495.63 commencing on the Rent Commencement Date.

  

	 	f.	 Tenant will provide the University with all warranties for all such work and, if requented, assign them to the
University. 

 ARTICLE 8 

ALTERATIONS 
 8.1
Landlord’s Consent; Conditions. After completion of the initial Improvements pursuant to the Work Letter attached hereto as Exhibit B, Tenant thereafter will not make or permit to be made any alterations, additions, or
improvements in or to the Premises (“Alterations”) without first obtaining the prior written consent of Landlord, which consent will be requested in writing not less than thirty (30) days prior to the scheduled commencement of
any Alterations. All Alterations (a) will comply with all applicable Laws; (b) will be compatible (as determined in good faith by Landlord) with the Building and its structure and the Building Systems; and (c) will conform with the
Landlord’s “Building Standard”, found at 2016 Design Criteria/Facility Standard Construction which is available online at https://facilities.umd.edu/2016-design-criteriafacilities-standards as of the Effective Date. In
addition, Landlord may require: (A) Tenant’s submission to Landlord, for Landlord’s prior written approval, of all plans and specifications relating to the Alterations; (B) Landlord’s prior written approval of the time or
times when the Alterations are to be performed; (C) Landlord’s prior written approval of the general contractor performing work in connection with the Alterations (Landlord pre-approves Coakley
Williams Construction, Utica Contracting, Inc., and Buch Construction); (D) Tenant’s receipt of all necessary permits and approvals from Landlord and all governmental authorities having jurisdiction over the Premises prior to the
construction of the Alterations; (E) Tenant’s written notice of whether the Alterations include the Handling of any Hazardous Materials; (F) Tenant’s delivery to Landlord of such insurance as Landlord reasonably requires; and
(G) Tenant’s (and Tenant’s contractor’s) compliance with such construction rules and regulations and the Building Standard as Landlord may reasonably promulgate from time to time. Landlord’s consent under this
Section 8.1 shall not be unreasonably withheld, conditioned or delayed. All work will be performed by Tenant at Tenant’s expense and will be prosecuted to completion in a diligent, first class, and good and workmanlike manner and so as not
to unreasonably interfere with any other tenants or occupants of the Building. Tenant will deliver to the Landlord, within thirty (30) days following completion of the Alterations, a reproducible copy of the
“as-built” drawings of the Alterations. Notwithstanding the foregoing, non-structural alterations costing $150,000 or less shall not require Landlord’s
consent. 
 8.2 Performance of Alterations Work. All work relating to the Alterations will be performed in compliance with the plans
and specifications reasonably approved by Landlord, all applicable Laws and the requirements of all carriers of insurance on the Premises and the Building. 

  
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 ARTICLE 9 

MECHANIC’S LIENS 

With respect to the Alterations, the Improvements or any other improvements made to the Premises by Tenant, Tenant (subject to Landlord’s
obligations with respect to the Construction Allowance described in the Work Letter) will pay when due all costs for work performed·and materials supplied to the Premises. Tenant will keep Landlord and the Premises free from all liens, stop
notices, and violation notices relating to the Alterations or any other work performed for, materials furnished to, or obligations incurred by Tenant. Tenant will indemnify, defend, and hold harmless Landlord and the Premises from any and all loss,
cost, damage, liability, and expense, including reasonable attorneys’ fees, arising out of or related to any liens or notices of any liens. Tenant will give Landlord not less than seven (7) days prior written notice before commencing any
Alterations in or about the Premises to permit Landlord to post appropriate notices of non-responsibility except for the Improvements referenced in Exhibit B attached hereto. During the progress of the
Alterations, Tenant will, upon Landlord’s request, furnish Landlord with sworn contractor’s statements and lien waivers covering the Alterations. Tenant will satisfy or otherwise discharge all liens, stop notices, or other claims or
encumbrances within twenty (20) days after Landlord notifies Tenant in writing that any such lien, stop notice, claim, or encumbrance has been filed, or in any such event prior to the time prescribed by law if Landlord fails to provide notice.
If Tenant fails to pay and remove such lien, claim or encumbrance within such applicable period, Landlord, at its election, may pay and satisfy it and the sums so paid by Landlord, with interest from the date of payment at the Interest Rate, will be
deemed to be Additional Rent due and payable by Tenant without notice or demand. Tenant’s obligations under this Section shall survive the expiration or termination of this Lease. 

ARTICLE 10 
 SURRENDER

 At the end of the Term of this Lease, Tenant will surrender the Premises to Landlord in the same condition as when received (and as
improved) on the Rent Commencement Date, subject to ordinary wear and tear and damage by casualty. Except for Alterations that Tenant agreed to remove at the end of this Lease according to Article 8 and Alterations that Landlord requires Tenant to
remove by written notice given at the time Landlord provides its consent, all Alterations will become a part of the Premises and will become the property of Landlord at the end of the Term. In that event, Tenant will promptly remove prior to the end
of the Term of this Lease the Improvements and Alterations designated by Landlord, and such Improvements and Alterations reasonably deemed by Tenant to be trade fixtures or proprietary to Tenant’s business, and will promptly restore, patch, and
repair any resulting damage, all at Tenant’s expense. All business and trade fixtures, machinery and equipment, furniture, movable partitions, and items of personal property owned by Tenan,t or installed by Tenant at its expense in the Premises
will be and remain the property of Tenant. Tenant will, at its sole expense, remove all such items and repair any damage to the Premises caused by such removal. If Tenant fails to remove any such items or repair such damage promptly before the end
of this Lease, Tenant will be deemed to have abandoned it and Landlord may store it at Tenant’s expense or appropriate it for itself, or sell or dispense of it in its discretion, with no liability to Tenant. 

ARTICLE 11 
 INSURANCE;
WAIVER; INDEMNIFICATION 
 11.1 Property Insurance. 

(a) Tenant will maintain, at its sole expense, causes of loss “special form” property insurance, in an amount not less than one
hundred percent (100%) of replacement cost covering (i) all leasehold and tenant improvements, including without limitation the Improvements and Alterations, in and to the 

  
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Premises, (ii) all floor and wall coverings, and (iii) Tenant’s office furniture, business and personal trade fixtures, equipment, furniture system, and other personal property
from time to time situated in the Premises. The proceeds of the insurance will be used for the repair and replacement of the property so insured, except that if not so applied or if this Lease is terminated according to Article 13, the proceeds
applicable to the leasehold improvements will be paid to Landlord and the proceeds applicable to Tenant’s personal property will be paid to Tenant. 

(b) Tenant will maintain business interruption insurance for direct or indirect loss of earnings attributable to all perils insured against in
Section 11.2(a) for a period of not less than twelve (12) months. 
 11.2 Liability Insurance. 

(a) Tenant will maintain, at its sole expense for the protection of Landlord and Tenant, commercial general liability insurance applying to
the use and occupancy of the Premises and the business operated by Tenant. The insurance will have a minimum combined single limit of liability of at least $2,000,000 per occurrence and a general aggregate limit of at least $3,000,000. Tenant will
provide excess liability insurance on a following form basis, with overall limits of at least $5,000,000, which limit may be satisfied through the use of a blanket or umbrella policy. All policies will be written to apply to all bodily injury
(including death), property damage, and personal injury losses, will include blanket contractual liability, broad form property damage, independent contractor’s coverage, completed operations, products liability, cross liability, and severance
of interest clauses, and will be endorsed to include Landlord and its agents, property managers, beneficiaries, partners, employees as additional insureds. 

(b) Intentionally Deleted. 

(c) Intentionally Deleted. 

(d) Tenant will maintain workers’ compensation insurance in accordance with the laws of the State of Maryland, and employer’s
liability insurance with a limit not less than $1,000,000 bodily injury each accident; $1,000,000 bodily injury by disease each person; and $1,000,000 bodily injury by disease policy limit. 

11.3 Policy Requirements. All insurance required to be maintained by Tenant will be issued by insurance companies authorized to do
insurance business in the State of Maryland and rated not less than A:X in Best’s Insurance Guide. All such insurance policies will be written as primary policies, not excess or contributing with or secondary to any other insurance as may be
available to Landlord or to the additional insureds. A certificate or evidence of insurance evidencing the insurance required under this Article will be delivered to Landlord within five (5) days of the Effective Date, but, in any event, before
Tenant enters the Building to construct the Improvements. Notice of cancellation shall be provided to Landlord in accordance with policy terms. Tenant will have the right to provide the insurance required by this Article 11 pursuant to blanket
policies, but only if such blanket policies expressly provide coverage to the Premises and the Landlord as required by this Lease without regard to claims made under such policies with respect to other persons. 

11.4 Waiver of Subrogation. Landlord waives all rights of recovery against Tenant for or arising out of damage to, or destruction of,
the Premises or the Building from causes then included under causes of loss “special form” insurance policies or endorsements, which waiver includes any deductible amount. 

  
 16 

 
Tenant waives any and all rights of recovery against Landlord for or arising out of damage to or destruction of, any property of Tenant, from causes then included under causes of loss
“special form” insurance policies or endorsements. Tenant represents that its present insurance policies now in force permit such waiver. 

11.5 Failure to Insure. If Tenant fails to maintain any insurance that Tenant is required to maintain, Tenant will be liable to
Landlord for any loss or cost resulting from such failure to maintain. Landlord will have the right, in its sole discretion, to procure and maintain insurance that Tenant is required to maintain and the cost will be deemed Additional Rent due and
payable by Tenant. Tenant will not self-insure against any risks required to be covered by insurance provided by Tenant without Landlord’s prior written consent, not to be unreasonably withheld, conditioned, or delayed. 

11.6 Miscellaneous. Landlord makes no representation that the insurance coverage specified to be carried by Tenant pursuant to this
Article is adequate to protect Tenant against Tenant’s undertaking under this Lease, and if Tenant believes that any insurance coverage is insufficient, Tenant will provide, at its own expense, such additional insurance as Tenant deems
adequate. Tenant will not keep, use, sell, or offer for sale in or upon the Premises any article which may be prohibited by any insurance policy periodically in force covering the Premises or the Building. If any of Landlord’s insurance
policies are cancelled or cancellation is threatened or the coverage reduced or threatened to be reduced in any way because of the use of the Premises in violation of the Permitted Use by Tenant or any assignee, subtenant, licensee, or invitee of
Tenant and, if Tenant fails to remedy the condition giving rise to such cancellation, threatened cancellation, reduction of coverage, or threatened reduction of coverage, within forty-eight (48) hours after written notice, Landlord may, at its
option, either terminate this Lease or enter upon the Premises and attempt to remedy such condition, and Tenant will promptly pay the cost to Landlord as ~Additional Rent. Landlord will not be liable for any damage or injury caused to any property
of Tenant or of others located on the Premises resulting from such entry. If Landlord is unable, or elects not to remedy such condition, then Landlord will have all of the remedies upon the occurrence of an Event of Default. Tenant will not do or
permit to be done any act or things upon or about the Premises that will (a) result in the assertion of any defense by the insurer to any claim, (b) invalidate, (c) be in conflict with the insurance policies of Landlord or Tenant covering
the Building, the Premises, or fixtures and property, or that would increase the rate of fire insurance applicable to the Building, or (d) which might subject Landlord to any liability or responsibility for injury to any person or persons or to
property. 
 11. 7 Waiver of Landlord’s Liability. 

(a) Except to the extent such waiver is prohibited by applicable Laws as against public policy, Landlord will not be liable or in any way
responsible to Tenant or Tenant Parties for any loss, injury, or damage suffered by Tenant, Tenant Parties or others caused by: (i) loss, theft, damage, or destruction of any property of Tenant (including without limitation computer storage
devices, money, securities, negotiable instruments, papers, or other valuables) or others whether or not the property is entrusted to the care or control of Landlord; or (ii) injury or damage to persons or property resulting from the use of the
Building (including without limitation any exercise facilities), or from fire, smoke, dampness, explosion, falling plaster or ceiling tiles, broken glass, soil under all or part of the Building, escaping steam, gas, fumes, vapors or odors,
electricity, vermin, computer or electronic equipment or systems malfunction or stoppage, freezing or excessive heat or cold, flooding, water, rain, snow, ice or leaks or discharges from any part of the Building or from any pipes, or from any
component of the sprinkler system, or from any appliance or plumbing work in the Building; or (iii) damage caused by other tenants, occupants, or persons in the Premises or other premises in the Building, or the public, or caused by operations
in the construction of any private or public work; or (iv) anything in relation to the Building Systems or any other equipment, any 

  
 17 

 
utility services (including chilled water, water, natural gas, electricity, and other utilities) or elevator services provided by Landlord including, without limitation, the cessation or
suspension of any such utilities or services; or (v) any act or omission (including theft, malfeasance, or negligence) on the part of any agent, contractor, sub-contractor or person engaged to perform
janitorial or security services by Landlord or Landlord Parties; or (vi) any failure of Landlord to conduct cleaning, repairs, replacements, or maintenance, regardless if provided by Landlord; or (vii) any damage, injury or loss suffered
to the Premises or the contents by reason of Landlord entering the Premises to examine the Premises or the contents or to carry on any work in the Premises; or (viii) any loss, damage, or inconvenience suffered or incurred by Tenant or caused
to Tenant’s business or property as a direct or indirect result of any act Landlord may take in remedying or attempting to remedy any Event of Default; or (ix) anything whatsoever in relation to the
non-observance or violation of any provision of: (A) any rules and regulations that Landlord may reasonably promulgate and provide written notice thereof to Tenant; or (B) any other lease, sublease,
license, or other occupancy agreement respecting any part of the Building by any other tenant, subtenant, licensee, occupant, or other person. 

(b) Intentionally Deleted. 

(c) Tenant’s obligations and liabilities in this Section 11. 7 will survive the expiration or termination of this Lease. 

11.8 Indemnity. In addition to any other indemnity obligation in this lease, except in the event of the negligence or misconduct of
Landlord, Tenant will, to the extent of its negligence or willful misconduct, indemnify and hold harmless Landlord and Landlord’s Parties against any and all Claims, Damages and Costs arising from or related to (a) injury of any kind to
any person (including injury resulting in death, personal discomfort, mental anguish, shock, sickness, disease, invasion of privacy, wrongful entry, eviction, or discrimination) occurring at, in or about the Premises and the exercise facilities by
users of them with the express or implied permission of Tenant, and (b) any work done by, or act of neglect or omission of Tenant or Tenant Parties. Subject to the terms and provisions of Section 28.19 of this Lease, Landlord agrees to
indemnify, save, defend (at Tenant’s option and with counsel reasonably acceptable to Tenant), and hold Tenant and Tenant Parties harmless from and against any and all Claims suffered by or claimed against Tenant or Tenant Parties based on,
arising out of or resulting from Landlord’s or Landlord Parties’ gross negligence or willful misconduct or any other breach of this Lease by Landlord. Tenant’s and Landlord’s obligations and liabilities in this Section 11.8
will survive the end of this Lease. 
 11.9 Landlord’s Insurance. Landlord is a constituent institution of the University System
of Maryland and, as such, is an instrumentality of the State of Maryland and a public corporation pursuant to Maryland Annotated Code, Education Article, Section 12-102. Insurance on the Building and the
liability of State personnel is administered through the Insurance Division of the Treasurer of the State of Maryland. The Insurance Division is responsible for administering the State’s Insurance Program which is comprised of both commercial
and self-insurance. Commercial insurance policies are procured to cover catastrophic property and liability losses, and other obligations derived from State contracts, statutes and regulations. Among the several exposures covered by commercial
policies are State maintained toll bridges and tunnels, rail operations, assorted professional liability exposures and student athlete accidents. The State also self-insures a significant portion of its exposures and maintains the State Insurance
Trust Fund to pay claims and the costs associated with handling those claims. Self-insurance coverage includes State-owned real and personal property, vehicles, and liability claims covered under the “Maryland Tort Claims Act”, §§12-101 et seq. of the State Government Article of the Annotated Code of Maryland. 

  
 18 

 ARTICLE 12 

DAMAGE OR DESTRUCTION 

12.1 Repair of the Premises. Tenant will promptly notify Landlord in writing (a “Damage Notice”) of any event, damage,
or condition to which this Article is or may be applicable. Landlord will, within a reasonable time after the discovery by Landlord of any damage, subject to reasonable delays for insurance adjustment or other matters beyond Landlord’s
reasonable control, and subject to all other terms of this Article, begin to repair the damage to the Building for which Landlord has an obligation to maintain under this Lease, resulting from such damage and will proceed with reasonable diligence
to restore the Building to substantially the condition as existed immediately before such damage, except for modifications required by applicable Laws or covenants, conditions, and restrictions, and modifications to the Building deemed desirable in
good faith by Landlord. Landlord will not be required to repair or replace any Alterations, furniture, equipment, fixtures, and other improvements that may, at any time, have been placed by, or at the request of, Tenant. Except as provided for in
this Lease, Landlord will have no liability for any inconvenience or annoyance to Tenant or injury to Tenant’s business as a result of any damage, or Landlord’s Restoration (defined in Section 12.2) activities hereunder, regardless of
the cause therefor. Base Rent and Additional Rent, payable under Article 3, will abate if and to the extent damage which the Landlord is obliged to repair occurs to the Premises and as a result all or any material portion of the Premises are
rendered unfit for occupancy, and are not occupied by Tenant, or Tenant cannot carry on the Permitted Use for its intended purposes, commencing on the date Tenant vacates the affected portion of the Premises and continuing until the date the
Restoration to be performed by Landlord with respect to the Premises is substantially complete. Tenant will assign to Landlord (or to any party designated by Landlord) all insurance proceeds payable to Tenant under Tenant’s insurance required
under this Lease with respect to the leasehold improvements in the Premises that are part of the Restoration work. 
 12.2 Exceptions to
Landlord’s Obligations. Landlord will have no obligation to repair the Premises and either party will have the right to terminate this Lease if (a) any portion of the Premises or any material portion of the Building is damaged and
(b) (i) Landlord estimates in good faith that the repair and restoration of such damage under Section 12.1 (“Restoration”) cannot reasonably be completed (without the payment of overtime) within two hundred and ten
(210) days after the date of such damage, or (ii) such damage occurs (or Landlord discovers the Damage) at any time after the end of the seventh Lease Year. Landlord shall notify Tenant in writing (not later than 45 days after the date of
the Damage Notice) of its determination that the Restoration cannot be accomplished within 210 days, as described above (the “Non-Restoration Notice”). Each party’s right of termination
will be exercisable by delivery of written notice to the other party within forty-five (45) days following the delivery of the Non-Restoration Notice or, if the damage occurs after the end of the seventh
Lease Year, within 45 days of the date of the Damage Notice. Termination will be effective upon delivery of such notice of termination (or if Tenant has not vacated the Premises, upon the expiration of thirty (30) days). 

ARTICLE 13 
 CONDEMNATION

 If the whole or a material portion of the Premises (which for purposes of this Section shall mean a reduction in usable floor area of
the Premises of such an extent so as to materially adversely affect the ability of Tenant to carry on its business in the Premises) or the Building is taken under the power of eminent domain (which may not be exercised by Landlord as an
instrumentality of the State of Maryland), or sold to prevent the taking (collectively, a “Taking”), this Lease will automatically terminate as of the day before the date of such Taking. If a Taking of such portion of the Building
or the Premises, in the opinion of 

  
 19 

 
Landlord or Tenant, substantially interferes with its operation, Landlord or Tenant may terminate this Lease upon thirty (30) days’ written notice to the other party given at any time
within sixty (60) days following the date of such Taking. The date of Taking will be the earlier of the date of transfer of title resulting from such Taking or the date of transfer of possession resulting from such Taking. If a portion of the
Premises is taken and this Lease is not terminated, Landlord will, with reasonable diligence, proceed to restore (to the extent permitted by the Laws and covenants, conditions, and restrictions then applicable to the Building) the Premises (other
than Tenant’s personal property and fixtures, and tenant improvements (including without limitation the Improvements), not constituting building standard installations) to a complete, functioning unit, to the extent of the condemnation award
received by Landlord. In such case, the Base Rent and Additional Rent (if any) will be reduced proportionately based on the portion of the Premises so taken. The entire award for any Taking will belong to Landlord, without deduction for any estate,
interest of claim of Tenant, except that Tenant will be entitled to pursue independently a separate award relating to the loss of, or damage to, Tenant’s personal property and trade fixtures and Tenant’s relocation costs directly
associated with the Taking. Tenant will not assert any claim against Landlord or the condemning authority for, and hereby assigns to Landlord, any compensation in connection with any such Taking. 

ARTICLE 14 
 EDUCATIONAL
PURPOSE; AFFILIATE STATUS 
 Section 15-107 of the Education Article of the Maryland
Annotated Code encourages public senior higher education institutions to promote the economic development of the State through arrangements with the private sector. To that end, Tenant represents that it intends to (but does not guarantee) the
creation of not fewer than 50 new jobs enabled by the construction of the Expansion Premises and further both parties agree that Tenant specializes in an area of research and development important to the economic development goals of the State and
one in which the Landlord has made significant prior investment. Tenant may elect to become an “Approved Tenant” as that term is defined in University of Maryland Policy VI-28.00(A), the benefits to
Tenant include eligibility for access to the following University facilities, resources and privileges (on a space available basis, with University faculty, staff and students taking precedence), and subject to the fees, conditions and restrictions
applicable to University faculty and staff: 
  

	 	(a)	 University Recreation Center: Available at faculty/staff rates. 

 

	 	(b)	 University Shuttle Bus Service: Service to and from the College Park Metro Station. Service to other
destinations outside the Research Park may be separately contracted between Tenant and the University Department of Transportation Services. 

  

	 	(c)	 Intercollegiate Athletic Events: Admission tickets to regular season University home football and
women’s basketball games may be purchased at the faculty/staff rate. Tickets to men’s basketball games are not available except through membership in the University’s Terrapin Club, which is open to the public. 

 

	 	(d)	 Clarice Smith Performing Arts Center: Admission tickets to performances in the Clarice Smith Center may
be purchased at the faculty/staff rate or at the reduced rate available to members of the Alumni Association, which is open to the public. 

  

	 	(e)	 University Libraries: Access for Tenant employees pursuant to the “UMD Libraries Community
Borrowers and Community Researchers Programs”. For information about the programs, see https://www.lib.umd.edu/access/community-borrowers. 

  
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 ARTICLE 15 

ASSIGNMENT AND SUBLETTING 

15.1 Restriction. Without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned, or delayed,
Tenant will not, either involuntarily or voluntarily or by operation of law or otherwise, assign, mortgage, pledge, hypothecate, encumber, or permit any lien to attach to, or transfer this Lease or any interest in it, or sublet the Premises or any
part of them, or permit the Premises to be occupied by anyone other than Tenant or Tenant’s employees (each a “Transfer” and any person or entity to whom a Transfer is made or sought to be made, a
“Transferee”). Any Transfer in violation of the provisions of this Article will be void and, at Landlord’s option, will constitute an Event of Default. “Transfer” includes (a) if Tenant is a partnership or
limited liability company, the withdrawal or change, voluntary, involuntary, or by operation oflaw, of fifty percent (50%) or more of the partners, members or managers, or transfer of fifty percent ( 50%) or more of partnership or membership
interests within a twelve (12) month period, or the dissolution of the partnership or the limited liability company without immediate reconstitution, or (b) if Tenant is a corporation whose stock is not publicly held and not traded through
an exchange or over the counter or any other form of entity, (i) the dissolution, merger, consolidation, or other reorganization of Tenant, the sale or other transfer of more than an aggregate of fifty percent (50%) of the voting shares. or
other interests of or in Tenant ( other than to immediate family members by reason of gift or death), within a twelve (12) month period, or (ii) the sale, mortgage, hypothecation or pledge of more than an aggregate of fifty percent (50%)
of the value of the unencumbered assets of Tenant within a twelve (12) month period. However, a Transfer to an entity that assumes this Lease and (A) that owns or controls all or substantially all of Tenant’s outstanding shares, or
(B) all or substantially all of whose outstanding shares are owned by Tenant or by an entity that owns or controls all or substantially all of Tenant’s outstanding shares, (C) any entity into which or with which Tenant is merged or
consolidated or which is merged or consolidated into or with Tenant, or (D) that acquires all or substantially all of Tenant’s assets, will not be subject to Sections 15.1, 15.2, 15.3, 15.4, 15.5, or 15.6; however, Tenant will promptly
give Landlord notice of the Transfer and a fully executed copy of the assumption agreement. 
 15.2 Notice to Landlord. If Tenant
desires to make a Transfer, Tenant will submit to Landlord a written request (a “Transfer Notice”) for Landlord’s consent, at least twenty (20) days (but no more than one hundred eighty (180) days) prior to the
effective date of the proposed Transfer. The notice will include: 
 (a) A statement containing (i) the name and address of the proposed
Transferee; (ii) current financial statements of the proposed Transferee certified by an officer, partner, or owner, and any other information and materials (including, without limitation, credit reports, business plans, operating history, bank
and character references) reasonably required by Landlord to assist Landlord in reviewing the financial responsibility, character, and reputation of the proposed Transferee; (iii) the nature of such Transferee’s business and proposed use
of the Premises, including a description as to how the Transferee’s business or proposed use is consistent with the educational mission of the University of Maryland, College Park, which shall be a factor in the Landlord’s reasonable
determination; (iv) the proposed effective date of the Transfer; (v) a description of the portion of the Premises subject to the proposed Transfer; (vi) all of the principal terms of the proposed Transfer (including a calculation of
the Transfer Profits (as defined in this Section)); and (vii) such other information or materials as Landlord may reasonably request. If Landlord requests additional information or materials, the Transfer Notice will not be deemed to have been
received until Landlord receives them. 
 (b) Four (4) originals of the proposed assignment or sublease or other Transfer on a form
reasonably approved by Landlord. 

  
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 (c) If Tenant modifies any of the terms and conditions relevant to a proposed Transfer
specified in the Transfer Notice in any material respect, Tenant will re-submit the Transfer Notice to Landlord for its consent. 

15.3 Intentionally Deleted. 

15.4 Dispute Resolution. If Tenant or any proposed Transferee claims that Landlord has unreasonably withheld or delayed its consent or
otherwise acted in a manner not permitted under this Article 15, then the sole remedy will be a declaratory judgment and an injunction for the relief sought without any monetary damages or other monetary relief. Tenant and each proposed Transferee
waive to the maximum extent permitted by Law any and all other remedies, including, without limitation, any right at law or equity to terminate this Lease with respect to any such claim. Tenant will indemnify, defend, protect, and hold harmless
Landlord from any and all Claims, Damages and Costs involving or asserted by any third party or parties (including, without limitation, Tenant’s proposed Transferee and any broker representing Tenant or such Transferee) claiming they were
damaged by Landlord’s wrongful withholding or delaying of Landlord’s consent to such proposed Transfer or other breach of this Article 15. 

15.5 Sublease Profits. If Landlord consents to any sublease, upon Landlord’s demand, Tenant will pay to Landlord fifty (50%) of
all Rent, Additional Rent, or any other consideration paid by or on behalf of such subtenant in connection with the sublease in excess of Base Rent and Additional Rent payable by Tenant under this Lease during the period of the sublease (net of any
expenses of Tenant reasonably related to making the Premises available for the sublease, including, but not limited to, attorney’s and consultant’s fees, tenant improvement allowances, leasing commissions or other broker fees, and other
rental concessions) (“Transfer Profits”).  
 15.6 Intentionally Deleted. 

15.7 Continuing Liability of Tenant. Despite any Transfer, unless Landlord agrees to a release, Tenant will remain fully and primarily
liable for the payment of Rent and for the performance of all of its other obligations as if the Transfer had not occurred. If an Event of Default occurs after a Transfer, Landlord may proceed directly against Tenant without the necessity of
exhausting its remedies against such Transferee. 
 15.8 Non-Waiver. The consent to any
Transfer will not relieve Tenant, or any person claiming through or by Tenant, of the obligation to obtain the consent to any further Transfer. If a Transfer occurs, Landlord may collect Rent from the Transferee without waiving any rights hereunder
and collection of the Rent from a person other than Tenant will not be deemed a waiver of any of Landlord’s rights, an acceptance of Transferee as Tenant, or a release of Tenant from the performance of Tenant’s obligations. 

  
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 ARTICLE 16 

DEFAULT AND REMEDIES 
 16.1
Events of Default. “Events of Default” are: 
 (a) Any failure by Tenant to pay any Rent in full within five
(5) days’ written notice that it is due or past due. That notice will be in lieu of any notice required under any Laws now or in the future is in effect requiring that notice of default be given prior to commencement of an unlawful
detainer or other legal proceeding. 
 (b) Any failure by Tenant to execute and deliver any statement or document required to be executed or
delivered by Tenant pursuant to this Lease and requested by Landlord within the specified time periods, if the failure continues for thirty (30) days after delivery of written notice, which notice will be in lieu of, and not in addition to, any
notice required under any Laws now or in the future in effect requiring that notice of default be given prior to commencement of an unlawful detainer or other legal proceeding. 

(c) The failure by Tenant to observe or perform any other non-monetary provision of this Lease if such
failure continues for thirty (30) days ( except if a different period of time is specified in this Lease, in which case such different time period will apply) after written notice; however, if the nature of the default is such that it cannot be
cured within the thirty (30) day period, no Event of Default will exist if Tenant commences curing the default within the thirty (30) day period and is diligently prosecuting the cure to completion. The thirty (30) days’ notice
will be in lieu of, and not in addition to, any notice required under any Laws now or in the future in effect requiring that notice of default be given prior to the commencement of an unlawful detainer or other legal proceeding. 

(d) The maldng or furnishing by Tenant of any false or misleading representation. 

(e) The assignment, subletting or other Transfer, or any attempted assignment, subletting or other Transfer, of this Lease in violation of
Article 15. 
 (f) Any instance whereby Tenant or any general partner of Tenant makes an assignment for the benefit of creditors,
generally does not pay debts as they become due or admits in writing its inability to · pay its debts as they become due, files a petition commencing a voluntary case under any chapter of the Bankruptcy Code, is adjudicated an insolvent,
files a petition seeking for itself any reorganization, composition, readjustment, liquidation, dissolution, or similar arrangement under the Bankruptcy Code or any other present or future similar statute, law, rule, or regulation, or files an
answer admitting the material allegations of a petition filed against it in any such proceeding, consents to the filing of such a petition, or acquiesces in the appointment of a trustee, receiver, custodian, or other similar official for it or of
all or any substantial part of its assets or properties, or takes any action looking to its dissolution or liquidation. 
 (g) The
commencement of a case, proceeding, or other action against Tenant or any general partner of Tenant seeking the entry of an order for relief against Tenant or any general partner thereof as debtor, to adjudicate Tenant or any general partner thereof
as a bankrupt or insolvent, or seeking reorganization, arrangement, readjustment, liquidation, dissolution, or similar relief against Tenant or any general partner thereof under the Bankruptcy Code or any other present or future similar statute,
law, rule, or regulation, which case, proceeding, or other action either results in such entry, adjudication, or issuance or entry of any other order or judgment having a similar effect, or remains undismissed for sixty ( 60) days, or within sixty (
60) days after the appointment (without Tenant’s or such general partner’s consent) of any trustee, receiver, custodian, or other similar official for it or such general partner, or of all or any substantial part of its or such general
partner’s assets and properties, such appointment will not be vacated. 

  
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 (h) The appointment of a receiver, trustee, or custodian to take possession of all or any
substantial portion of the assets of Tenant, or the formation of any committee of Tenant’s creditors, or any class of them, for the purpose of monitoring or investigating the financial affairs of Tenant or enforcing such creditors’ rights.

 16.2 Landlord’s Right to Terminate upon Tenant Default. If an Event of Default occurs and is continuing, Landlord will have
the right to terminate this Lease and recover possession of the Premises by written notice to Tenant. In that event, Landlord will be entitled to receive from Tenant: 

(a) The worth at the time of award of any unpaid Rent that had been earned at the time of such termination, plus 

(b) The unamortized amount of the Construction Allowance, calculated on a straight line basis for the Lease Term, if not otherwise fully
recovered in the calculation of Rent 16.2(a) above, plus 
 (c) At Landlord’s election, such other amounts in addition to or in lieu of
the foregoing as may be permitted from time to time by applicable law. 
 “Worth at the time of award” will be computed by
allowing interest at the “prime rate” or “reference rate” announced from time to time by Bank of America, N.T. & S.A. (or such reasonable comparable national banking institution as is selected by Landlord if Bank of America,
N.T. & S.A. ceases to publish a prime rate or reference rate), plus one percent (1%). 
 Notwithstanding the foregoing, Landlord,
whether it elects to terminate or continue the Lease upon Tenant Default, shall have an express duty to use commercially reasonable efforts to mitigate its damages and shall use commercially reasonable efforts to relet the Premises at the
then-current fair market rental rate. 
 16.3 Landlord’s Right to Continue Lease upon Tenant Default. If an Event of Default
occurs and Landlord does not terminate this Lease, Landlord may from time to time, without terminating this Lease, enforce all of its rights and remedies under this Lease. Landlord may continue this Lease in effect after Tenant’s breach and
recover Rent as it becomes due. The proceeds of any reletting will be applied first to pay to Landlord all costs and expenses of reletting (including, without limitation, costs and expenses of retaking the Premises, removing persons and property,
securing new tenants, including expenses for redecoration, alterations, and other costs in connection with preparing the Premises for the new tenant, and if Landlord maintains and operates the Premises, the costs to do so) and receivers’ fees
incurred in connection with the appointment of and performance by a receiver to protect the Premises and Landlord’s interest under this Lease and any necessary or reasonable alterations; second, to the payment of any indebtedness of Tenant to
Landlord other than Rent; third, to the payment of Rent due and unpaid hereunder; and the residue, if any, will be held by Landlord and applied in payment of other or future obligations of Tenant to Landlord as the same may become due and payable,
and Tenant will not be entitled to receive any portion of such revenue. No re-entry or taking of possession of the Premises by Landlord pursuant to this Section will be an election to terminate this Lease
unless a written notice of such election is given to Tenant or unless the termination is decreed by a court of competent jurisdiction. Landlord may, at any time after reletting, elect to terminate this Lease, without Landlord waiving any rights to
demand and make claim for the Rent due for the balance of the Lease Term as if the Lease had not been terminated. If an Event of Default occurs and is continuing when the Premises or any portion thereof are sublet, Landlord may collect directly from
the subtenant all rentals becoming due to the Tenant and apply such rentals against other sums due to Landlord without prejudice to any other remedies. 

  
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 16.4 Right of Landlord to Performance. If Tenant fails to pay any money required to
be paid by it other than Base Rent or fails to perform any other act to be performed by it, then, Landlord may cure the failure at the expense of Tenant immediately and without notice in the case (i) of emergency, (ii) where the failure
unreasonably interferes with any other tenant in the Building, or (iii) where the failure will result in the violation of Law or the cancellation of any insurance policy maintained by Landlord. Any sums paid by Landlord and all incidental
costs, together with interest thereon at the lesser of maximum rate permitted by law or twelve percent (12%) from the date of payment, will be payable to Landlord as Additional Rent on demand, and Landlord will have the same rights and remedies in
the event of nonpayment as in the case of the failure by Tenant in the payment of Rent. 
 16.5 Subleases of Tenant. If Landlord
elects to succeed to Tenant’s interest, Tenant will have no further right to or interest in the Rent or other consideration receivable under and subleases, licenses, concessions, or other consensual arrangements for possession entered into by
Tenant and affecting the Premises, as of the date of notice by Landlord of its election. 
 16.6
Non-Waiver. Landlord’s rights to indemnification for liabilities arising before termination under this Article will survive the termination of this Lease. Landlord’s acceptance of a lesser sum
than the Rent then due will be on account of the earliest installment of Rent due. No endorsement or statement on any check or any letter accompanying any check or payment as Rent is an accord and satisfaction, and Landlord may accept payment
without prejudice to its right to recover the balance of or pursue any other remedy. The delivery of keys to any employee or agent of Landlord will not operate as a surrender of the Premises. 

16.7 WAIVER OF TRIAL BY JURY. LANDLORD AND TENANT WAIVE THEIR RIGHTS TO TRIAL BY JURY IN ANY ACTION ARISING OUT OF THIS LEASE.

 16.8 Cumulative Remedies. The remedies to this Lease are cumulative and are not intended to be exclusive of any other remedies or
means of redress in case of any breach or threatened breach by either party. In addition to the other remedies, Landlord or Tenant, as applicable, will be entitled to an injunction of the breach or attempted or threatened specific performance of
this Lease. 
 16.9 Default by Landlord. Landlord’s failure to perform or observe any of its obligations under this Lease will
constitute a default by Landlord under this Lease only if such failure continues for a period often (10) days (or the additional time to cure, not to exceed ninety (90) days in total, that is reasonably necessary to cure the failure
provided Landlord commences to cure, with commercially reasonable efforts, within 10 days of the date of Tenant’s notice) after Landlord receives written notice from Tenant specifying in reasonable detail the nature and extent of the failure
and the Lease provision containing the obligation in question, and an Event of Default by Tenant has not occurred at the time of such notice. Subject to the remaining provisions of this Lease, following the occurrence of any such Landlord default,
Tenant will have the right to pursue any remedy available under Law for such default by Landlord. Notwithstanding anything herein contained in this Lease to the contrary, each Landlord and Tenant acknowledges to the other that neither party shall be
liable to the other for indirect, consequential, incidental or punitive damages or damages for lost profits. 

  
 25 

 ARTICLE 17 

SIGNS 
 Tenant has
previously installed a sign visible from Campus Drive. If, during the Term, Tenant wishes to modify its signage or install new signage, then Tenant shall submit to Landlord, for review and approval, a description of the proposed size, location and
design drawing of any proposed signage or other Tenant advertising visible from the exterior of the Premises and Landlord will not unreasonably withhold, condition or delay its approval, subject to Landlord’s rights under Article 27. 

ARTICLE 18 
 QUIET
ENJOYMENT 
 Tenant will have and peaceably enjoy the Premises free from and against all persons holding an interest in the Building
from and through Landlord. 
 ARTICLE 19 

PARKING 
 The parking lot
(either existing or as modified as part of the Improvements) will be for the exclusive use of the Tenant. 
 ARTICLE 20 

NO SMOKING FACILITY 
 The
University of Maryland is a “smoke free” campus. Smoking is prohibited in the Premises as well as on all institution grounds and property, including walkways, parking lots, and recreational and athletic areas. 

ARTICLE 21 
 ESTOPPEL
CERTIFICATES 
 Tenant agrees to execute, acknowledge, and deliver to Landlord from time to time a statement in writing certifying that
(a) this Lease is unmodified and in full force and effect ( or if there have been modifications, that this Lease is in full force and effect as modified and stating the modifications), (b) the dates to which the Rent has been paid, if any,
(c) whether or not to the best knowledge of Tenant, Landlord is in default in the performance of this Lease and, if so, specifying each default, and (d) such other matters as Landlord may reasonably request. The form of Tenant Estoppel
Certificate attached as Exhibit D is approved by Tenant; however, Landlord will have the right to use other forms for such purpose. After the Rent Commencement, Landlord shall prepare and deliver to Tenant for Tenant’s review and execution,
within ten days from the date of delivery, a completed estoppel certificate in the form attached hereto. 
 ARTICLE 22 

ENTRY BY LANDLORD 
 Upon
reasonable prior notice of at least three (3) business days (except in the case of an emergency when no such notice will be required), Landlord may enter the Premises during Business Hours to: inspect them; exhibit them to prospective
purchasers, lenders, or tenants; determine whether Tenant is complying 

  
 26 

 with all of its obligations, including without limitation compliance with all Laws; post notices of non-responsibility; and make repairs or improvements in or to the Building or the Premises. All such work will be done as promptly as reasonably possible and so as to cause as little interference to Tenant as
reasonably possible. Except to the extent of Landlord’s or its employees, agents or contractors’ negligence or misconduct, Tenant waives any claim for damages for any injury or inconvenience to, or interference with, Tenant’s
business, any loss of occupancy or quiet enjoyment of the Premises or any other loss occasioned by such entry. Landlord will at all times have and retain a key with which to unlock all of the doors in, on, or about the Premises (excluding
Tenant’s vaults, safes and controlled areas designated by Tenant in writing in advance). Only in the event of an emergency, Landlord will have the right to use any and all means by which Landlord may deem proper to enter the Premises, and will
reimburse Tenant for any damage caused by or resulting from such forced entry (unless the emergency is conclusively determined to have been solely caused by Tenant). Any entry to the Premises obtained by Landlord in accordance with this Section will
not be a forcible or unlawful entry into the Premises, or an eviction or a termination of Tenant’s duties. 
 ARTICLE 23 

LANDLORD’S LEASE UNDERTAKINGS; 

TRANSFER OF LANDLORD’S INTEREST 

23.1 Landlord’s Lease Undertakings. The recourse of Tenant or its successors or assigns against Landlord (and the liability of
Landlord to Tenant, its successors, and assigns) with respect to (a) any actual or alleged breach by Landlord or (b) any matter relating to Tenant’s occupancy of the Premises will be limited by applicable Laws, including without
limitation the Maryland Tort Claims Act. No personal liability or personal responsibility of any sort with respect to any of either Landlord’s or Tenant’s undertaldngs under this Lease or any alleged breach thereof is assumed by, or will
at any time be asserted or enforceable against either party, or Landlord or Tenant or any of either’ s directors, officers, shareholders, employees, agents, constituent partners, beneficiaries, trustees, or representatives. Neither party shall
be liable to the other for any lost profits, lost economic opportunities, or any form of consequential damage as the result of any actual or alleged breach by either party of such party’s undertakings pursuant to this Lease. 

23.2 Transfer of Landlord’s Interest. Provided any such transferee of Landlord expressly assumes the obligations of Landlord as
party-landlord under this Lease, Landlord and each successor to Landlord will be fully released from the further performance of Landlord’s obligations upon their transfer of Landlord’s interest in the Building to a third party. Except for
any provisions which expressly survive the expiration or termination of this Lease, Landlord will not be liable for any obligations first arising after a transfer of its interest in the Building. 

ARTICLE 24 
 HOLDOVER
TENANCY 
 If Tenant holds possession of the Premises after the end of the Term without Landlord’s consent, Tenant will be a tenant
at sufferance upon all of the terms of this Lease, except Term and Base Rent. During the holdover period, Tenant will pay Base Rent equal to one hundred twenty-five percent (125%) of the Base Rent and Additional Rent payable during the last month of
the Term. The Base Rent payable for the holdover period will not be construed as a penalty or as liquidated damages. Tenant will indemnify Landlord from and against any and all claims, demands, actions, proceedings, losses, damages, liabilities,
obligations, penalties, costs, and expenses, including, without limitation, all lost profits and other consequential damages, reasonable attorneys’ fees, consultants’ fees, and court costs incurred or suffered by or asserted against
Landlord by reason of Tenant’s wrongful failure to surrender the Premises at the end of this Lease. 

  
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 ARTICLE 25 

NOTICES 
 All notices that
Landlord or Tenant may serve on the other may be served, as an alternative to personal service, by registered or certified mail, postage prepaid, or by a reputable overnight courier service, which provides evidence of delivery, addressed to
Landlord’s Address and identifying the provision of the Lease to which the notice relates, and to Tenant’s address, or addressed to such other address or addresses as either Landlord or Tenant may from time to time designate to the other
in writing. Any notice will be deemed to have been served at the time the same was actually received (or if receipt is refused, when first attempted). 

ARTICLE 26 
 BROKERS

 Tenant has retained Cushman & Wakefield U.S., Inc. (“Tenant’s Broker”) to act as its broker for this
Lease. Tenant shall pay all commissions and reimbursements that may be due and owing to Tenant’s Broker. Correspondingly, Landlord has no obligation, at all, to Tenant’s Broker. Landlord and Tenant each represents and warrants to the other
that it has had no dealings with any other real estate broker or agent in connection with the negotiation of this Lease and that it knows of no real estate broker or agent that is or might be entitled to a commission in connection with this Lease
except for Tenant’s Broker. Landlord and Tenant each holds the other party harmless from and against any and all liability, loss, damage, expense, claim, action, demand,. suit or obligation, including, without limitation, reasonable
attorneys’ fees, disbursements and court costs arising out of or relating to a breach by a party of the foregoing representation or warranty. 

ARTICLE 27 
 RIGHTS
RESERVED BY LANDLORD 
 Landlord may from time to time, at its sole risk, cost, and expense, with ten ( 10) days prior written notice to
Tenant: (a) change the name or street address of the Building; (b) install, affix, and maintain signs on the exterior of the Building identifying and promoting Landlord, including Landlord’s “Discovery District” (which does
not include any sign installed by Tenant which shall be the Tenant’s responsibility to install and maintain); (c) designate and approve prior to installation by Tenant all types of signs, window shades, blinds, drapes, awnings, or other similar
items, and all internal lighting that may be visible from the exterior of the Premises; (d) install, operate, and maintain security systems that monitor, by closed circuit television or otherwise, all persons entering or leaving the Building;
or (e) do anything necessary to prevent a dedication of any rights in any person. With respect to the installation of signage under clause (b) of this Article, Landlord will submit signage plans to Tenant for review and approval, such
approval not to be unreasonably withheld, conditioned or delayed. 
 ARTICLE 28 

MISCELLANEOUS 
 28.1
Entire Agreement. This Lease consists of the foregoing Basic Lease Provisions and all of the Standard Lease Provision, and all exhibits attached hereto, all of which are incorporated by this reference and made a part of this Lease. If the
provisions of the Basic Lease Provisions and the Articles conflict, the Basic Lease Provisions will control. This Lease contains all of the agreements and understandings relating 

  
 28 

 
to the leasing of the Premises and the obligations of Landlord and Tenant in connection with such leasing. Landlord has not made, and Tenant is not relying upon, any warranties, or
representations, promises, or statements made by Landlord or any agent of Landlord, except as expressly set forth. This Lease supersedes any and all prior agreements between Landlord and Tenant. 

28.2 Amendments. This Lease will not be amended, changed, or modified in any way unless in a writing executed by Landlord and Tenant.
Landlord will not be deemed to have waived or released any of its rights or remedies unless in writing. 
 28.3 Successors. This
Lease will bind or inure to the benefit of Landlord and Tenant and their respective successors and assigns. This provision will not permit any Transfer by Tenant contrary to the provisions of Article 15. 

28.4 Force Majeure. Neither party will incur any liability to the other party with respect to any of such party’s obligations if
the failure is caused by any reason beyond the reasonable control of the obligated party, including, but not limited to, strike, labor trouble, governmental rule, regulations, ordinance, statute, or interpretation, or by fire, earthquake, civil
commotion, or failure or disruption of utility services, and the non-performing party’s acts or omissions were not the cause of such event. Subject to the exception set forth herein, the amount of time
for the obligated party to perform any of such party’s obligations will be extended by the amount of time such party is delayed in performing such obligation by any force majeure.  

28.5 Survival of Obligations. Any obligations of Tenant or Landlord accruing prior to the end of this Lease will survive this Lease,
and the obligated party will promptly perform all such obligations whether or not this Lease has ended. 
 28.6 Intentionally
Deleted. 
 28.7 Governing Law. This Lease will be governed by, and construed in accordance with, the laws of the State. 

28.8 Prohibition Against Recording. Neither party shall record this Lease or any memorandum, affidavit, or other writing with respect
to it. 
 28.9 Severability. If any provision of this Lease is found to be unenforceable, the remainder will not be affected. Any
provision found to be invalid will be enforceable to the extent permitted by law. If two interpretations may be given to any provision, one of which will render the provision unenforceable, and one of which will render the provision enforceable, the
interpretation rendering the provision enforceable will be adopted. 
 28.10 Captions. All captions, headings, titles, numerical
references, and computer highlighting are for convenience only and will have no effect on the interpretation of this Lease. 
 28.11
Interpretation. Tenant acknowledges that it has read and reviewed this Lease and that it has had the opportunity to confer with counsel in the negotiation of this Lease. Accordingly, this Lease will be construed neither for nor against
Landlord or Tenant, but will be given a fair and reasonable interpretation in accordance with the meaning of its terms and the intent of the parties. 

  
 29 

 28.12 Independent Covenants. Each covenant, agreement, obligation, or other provision
of this Lease to be performed by Tenant are separate and independent covenants of Tenant, and not dependent on any other provision of this Lease. 

28.13 Number and Gender. All terms and words used in this Lease, regardless of the number or gender in which they are used, will be
deemed to include the appropriate number and gender, as the context may require. 
 28.14 Time Is of the Essence. Time is of the
essence of this Lease and the performance of all obligations hereunder. 
 28.15 Joint and Several Liability. If Tenant comprises
more than one person or entity, all such persons will be jointly and severally liable for payment ofrents and the performance of Tenant’s obligations. 

28.16 No Offer to Lease. The submission of this Lease to Tenant or its Broker or other agent, does not constitute an offer to Tenant to
lease the Premises. This Lease will have no force and effect until (a) it is executed and delivered by Tenant to Landlord and (b) it is fully reviewed and executed by Landlord. Execution and delivery by Tenant will constitute an
irrevocable offer for twenty (20) business days following the date of delivery. 
 28.17 No Counterclaim: Choice of Laws. If
Landlord commences any summary proceeding for non-payment of Rent, Tenant will not interpose any counterclaim of whatever nature or description in any such proceeding unless such is a compulsory counterclaim.
In addition, Tenant submits to local jurisdiction in the State and agrees that any action by Tenant against Landlord will be instituted in Prince George’s County, Maryland and that Landlord will have personal jurisdiction over Tenant for any
action brought by Landlord against Tenant. 
 28.18 Intentionally Deleted. 

28.19 Limitation on Landlord’s Indemnification Obligations. Landlord’s indemnification obligations or commitments to
“hold harmless” in this Lease are contingent upon an appropriation by the Maryland General Assembly to the Landlord specifically for the purpose contemplated in this Lease at the time an event which may give rise to the Landlord’s
obligation to indemnify or hold harmless occurs and to the extent a tortious claim is involved, the Landlord’s indemnification obligation shall not be greater than that determined under the Maryland Tort Claims Act, as if the claim had been
directly asserted against the Landlord under the Maryland Tort Claims Act. Notwithstanding any obligation of indemnification, Landlord is not waiving any other common law governmental immunities and defenses. For Landlord’s indemnification
obligations to be effective, Tenant, upon receiving knowledge of any violations, occurrences or claims that may trigger Landlord’s obligations under this Section, shall provide prompt notice of the same to Landlord. 

28.20 Authority. If Tenant signs as a corporation or a partnership, each of the persons executing this Lease on behalf of Tenant
represents and warrants that Tenant is a duly authorized and existing entity in good standing, that Tenant has and is qualified to do business in Maryland, that Tenant has full right and authority to enter into this Lease, and that the signatory on
behalf of Tenant are authorized to do so. Upon 

  
 30 

 Landlord’s request, Tenant will provide Landlord with evidence reasonably satisfactory to Landlord
confirming the representation and warranty. The signatory on behalf of Landlord represents that Landlord has full right and authority to enter into this Lease and that the person signing on behalf of Landlord is authorized to do so. 

28.21 No Partnership or Joint Venture. This Lease does not create the relationship of principal and agent, or partnership, or joint
venturer, or any other relationship between Landlord and Tenant other than landlord and tenant. 
 28.22 No Hiring. No employee of
Landlord, or any unit thereof, whose duties as such employee include matters relating to or affecting the subject matter of this Lease, shall, while so employed, become or be an employee of the Tenant, or any unit thereof. 

28.23. Non-Discrimination. The Tenant agrees with respect to any business operations in the
State: (a) not to discriminate in any manner against any employee or applicant for employment because ofrace, color, religion, ancestry or national origin, sex, age, marital status, sexual orientation, or disability unrelated in nature and
extent so as reasonably to preclude the performance of such employment; (b) to include a provision similar to that contained in subsection (a), above, in any subcontract except a subcontract for standard commercial supplies or raw materials;
and ( c) to post and to cause subcontractors to post in conspicuous places, available to employees and applicants for employment, notices setting forth the substance of this clause. 

28.24. Compliance with Certain Maryland Regulatory Laws and Regulations. Landlord is an instrumentality of the State of Maryland. On
account of entering into this Lease with Landlord, the Tenant may be obliged to comply with certain Laws that regulate transacting business with the State. This provision, below, lists some of the Laws and regulations, although Tenant is required to
undertake its own diligence and to comply with any and all Laws, including without limitation those governing transacting business with the State of Maryland: 

a. If Tenant is a corporation, Tenant agrees to read, comply with, and execute the “Certification of Corporation Registration and Tax
Payment” set forth in COMAR Section 21.07.01.25. 
 b. Section 13-221 of the State
Finance and Procurement Article, of the Annotated Code of Maryland requires that every business that enters into contracts, leases, or other agreements with the University and/or the State of Maryland and its agencies during the calendar year under
which the business is to receive in the aggregate two hundred thousand dollars ($200,000.00) or more from Landlord and/or the State (or its agencies) under such agreements, shall, within thirty (30) days of the time when the aggregate value of
these contracts, leases, or agreements reaches two hundred thousand dollars ($200,000), file with the State certain specified information to include disclosure of beneficial ownership of the business. 

c. Title 14 of the Election Law Article of the Annotated Code of Maryland requires that every person that enters into contracts, leases, or
other agreements with Landlord or the State (or its agencies), or a political subdivision of the State, during a calendar year under which the person receives a certain aggregate amount from Landlord or the State under such agreements, shall, on or
before February 1 of the following year, file with the State certain specified information to include disclosure of political contributions of five hundred dollars ($500) or more to a candidate for elective office in any primary or general
election. 

  
 31 

 28.25. Document Retention. The Tenant shall retain and maintain all records and
documents relating to this Lease for three (3) years after final payment to Landlord hereunder or any applicable statute of limitations, whichever is longer, and shall make them available for inspection and audit by authorized representatives
of Landlord or State auditors, at all reasonable times. 
 28.26. Counterparts. This Lease may be signed in counterparts, each of
which shall be deemed to be an original and all of which together shall comprise a single document. 
 28.27. Representations and
Warranties. The Tenant hereby represents and warrants that: 
 a. It is qualified to do business in the State and that it will tal<:e
such action as, from time to time hereafter, may be necessary to remain so qualified; 
 b. It is not in arrears with respect to the payment
of any monies due and owing Landlord or the State, or any department or unit thereof, including but not limited to the payment of taxes and employee benefits, and that it shall not become so in arrears during the term of this Lease. 

c. It shall comply with all Laws applicable to its activities and obligations under this Lease; and 

d. It shall obtain at its expense, all licenses, permits, insurance, and governmental approvals, if any, necessary to the performance of its
obligations under this Lease. 
 ARTICLE 29 

KNOWLEDGE 
 29.
Knowledge. As used in this Lease, the term “knowledge” means the current actual knowledge, without independent investigation, of(i) the Landlord’s representative, Edward J. Maginnis, Assistant Vice President, Real Estate, and
(ii) the Tenant’s representative, Mahsa Domajafi. 
 ARTICLE 30 

OFAC 
 30. OFAC (Office
of Foreign Assets Control, Department of the Treasury) and Export Control. Neither Tenant nor, to Tenant’s actual knowledge, any individual having a beneficial interest in Tenant, is a person described by Section 1 of the Executive
Order (No. 13224) Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism, 66 Fed. Reg. 49079 (September 25, 2001 ), and does not engage in any dealings or transactions, and is not otherwise
associated with any such persons. To Tenant’s actual knowledge as of the Effective Date, Tenant’s funding of Rent for the acquisition of the Property will not be from a foreign country or an entity, individual or source from a foreign
country. If, however, the foregoing representation changes and there is foreign funding of Rent, then Tenant shall provide customary “Know Your Customer” information (as set forth in FINRA Rule 2090) to Landlord for such parties and any
additional information that Landlord may require to allow Landlord to complete all reporting it is required to complete under the Laws with respect to contracts with a foreign source, including without limitation the Laws and regulations of the
United States Department of Education, such as 20 U.S. Code Section 1011.f., Disclosures of Foreign Gifts. 
 Tenant and each person or
entity owning an interest in Tenant (i) is not currently identified on the Specially Designated Nationals and Blocked Persons List maintained by OFAC ( the “List”) and is not a person or entity with whom a citizen of the United States
is prohibited from engaging in transactions by 

  
 32 

 any trade embargo, economic sanction, or other prohibition of United States law, regulation, or Executive
Order of the President of the United States, (ii) none of the funds or other assets of Tenant constitute property of, or are beneficially owned, directly or indirectly, by any Embargoed Person (as hereinafter defined), (iii) no Embargoed Person
has any interest of any nature whatsoever in Tenant (whether directly or indirectly), (iv) none of the funds of Tenant have been derived from any unlawful activity with the result that the investment in Tenant is prohibited by law or that this
Agreement is in violation of law, and (v) Tenant has implemented procedures, and will consistently apply those procedures, to ensure the foregoing representations and warranties remain true and correct at all times. The term “Embargoed
Person” means any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §1701 et seq., The Trading with the Enemy Act, 50 U.S.C.
App. 1 et seq., and any Executive Orders or regulations promulgated thereunder with the result that the investment in Tenant is prohibited by applicable Laws or Tenant is in violation of applicable Laws. 

Tenant covenants and agrees (A) to comply with all requirements of Laws relating to money laundering, anti-terrorism, trade embargos and
economic sanctions, now or hereafter in effect, (B) to immediately notify Landlord in writing if any of the representations, warranties or covenants set forth in this Section are no longer true or have been breached or if Tenant has a
reasonable basis to believe that they may no longer be true or have been breached, (C) not to use funds from any Embargoed Person to make any payment due to Landlord under this Agreement, and (iv) at the request of Landlord, to provide
such information as may be requested by Landlord to determine Tenant’s compliance with the terms of this Section. 
 Tenant shall take
full responsibility for its compliance with US export laws, including the Export Administration Regulations (EAR 15 CFR Parts 730-774), the International Traffic in Arms Regulations (ITAR 22 CFR Parts 120 to
130), and the OFACs sanctions programs (31 CFR various parts) (collectively “US export laws”) which restrict certain technologies from being shipped abroad, or, in the case of technical data, shared with a
non-US person wherever located. 
 [Signature Page
Follows] 

  
 33 

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

			
	LANDLORD:
	
	UNIVERSITY OF MARYLAND, COLLEGE PARK
		
	By:	 	/s/ Carlo Colella
		 	Carlo Colella
		 	Vice President for Administration and Finance
		
	Date:	 	3/12/2020

  

			
	TENANT:
	
	IONQ, INC.
		
	By:	 	/s/ Peter Chapman
	Name:	 	Peter Chapman
	Title:	 	President/CEO
		
	Date:	 	3/10/2020

  
 34 

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

			
	LANDLORD:
	
	UNIVERSITY OF MARYLAND, COLLEGE PARK
		
	By:	 	/s/ Carlo Colella
		 	Carlo Colella
		 	Vice President for Administration and Finance
		
	Date:	 	3/12/2020

  

			
	TENANT:
	
	IONQ, INC.
		
	By:	 	/s/ Peter Chapman
	Name:	 	Peter Chapman
	Title:	 	President/CEO
		
	Date:	 	3/10/2020

  
 34 

 EXHIBIT A 

Premises 
 The Annexation
of the Original Premises and Expansion Premises 
 (See attached) 

  
 35 

 Exhibit A - Premises** 

 
 

 
  

	**	 The shaded area, including the upper left-hand corner which is unshaded, is the Original Premises. The unshaded
area is the Expansion Premises. 

  
 34-a 

 EXHIBIT B 

Work Letter 
 This Work
Letter is dated March 12, 2020, between the University of Maryland, College Park (“Landlord”) and ionQ, Inc. (“Tenant”). 

RECITALS: 
 A. This Work
Letter is attached to and forms a part of that certain Amended and Restated Lease dated March 12, 2020 (“Lease”), pursuant to which Landlord has leased to Tenant office and lab space in the Building. 

B. In addition to certain improvements to the Original Premises, such as the “Site Line Entry” and select painting as shown or
described on the Expansion Cohesiveness Plan and related plans and drawings completed by Fox Architects, dated January 14, 2020, Tenant desires to make certain pre-occupancy build-out improvements to the
Expansion Premises in accordance with the “Issue for Permit & Bid” dated 11/1/2019, amended by “Issue for VE Changes - Arch & MEP” dated 01/27/2020 collectively referred to herein as the “Expansion
Plan”, and the parties agree to have Tenant, at its sole expense (subject to the application of the Construction Allowance provided by Landlord as described below) and risk, enter the Expansion Premises and make such initial improvements, prior
to occupancy, upon the terms and conditions contained in this Work Letter. 
 1. Definitions. In this Work Letter, some defined terms
are used. They are: 
 (a) Tenant’s Representative: Mahsa Domajafi 

Call at 301-298-7997 or
E-mail domajafi@ionq.com. 
 (b) Landlord’s Representative: Bill Campbell 

Call at 301.405 .2824 or E-mail at wcampbel@umd.edu. 

(c) Construction Schedule: A schedule depicting the relative time frames for various activities related to the construction of the
Improvements in the Expansion Premises. 
 (d) Improvements: The Improvements and related work are inclusive of the following: 

(i) The development of the Expansion Plan. 

(ii) All construction work necessary to augment the Building, creating the details and partitioning shown on the Expansion Plan . The work
will create finished ceilings, walls, and floor surfaces, as well as complete HVAC, lighting, electrical, and fire protection systems, and IT/AV/Security infrastructure required to serve the Expansion Premises and the entire Premises as applicable.

 (iii) Construction modifications made to the Original Premises, as described in the Expansion Plan, including as of the Effective Date
(A) creating a line of sight straight back from the entryway of the Original Premises to a to-be-created opening leading into the Expansion Premises by removing
certain 

  
 36 

 
walls that currently exist, (B) ensuring that all systems installed will service the Premises as required under the Laws, (C) installing new floor covering over the straight travel path
from the existing front entry in the Original Premises to the to-be created opening to the Expansion Premises and in any open areas adjacent to the travel path so that all visible floor areas from this travel
path appear the same, and (D) repainting the Original Premises as needed to match or complement the Expansion Premises viewable from the Original Premises. 

The Improvements will not include personal property items of any type, decorator items or services, artwork, plants, furniture or other
fixtures not permanently affixed to the Premises. 
 (e) Cost of the Improvements: The Cost includes, but is not limited to, the
following: 
 (i) All architectural and engineering, or other professional fees and expenses. 

(ii) All contractor and construction manager costs and fees. 

(iii) All permits and taxes. 

(f) Change Order: Any change, modification, or addition to the Expansion Plan after Landlord has approved the same. 

(g) Building Standard: The Improvements will be subject to, and will conform with, the Landlord’s 2016 Design Criteria/Facility
Standard Construction which is available online at https://facilities .umd.edu/2016-design-criteriafacilities-standards as of the Effective Date. 

2. Representatives. Landlord appoints Landlord’s Representative to act for Landlord in all matters associated with this Work
Letter. Tenant appoints Tenant’s Representative to act for Tenant in all matters associated with this Work Letter. All inquiries, requests, instructions, authorizations, and other communications with respect to the matters covered by this Work
Letter will be made to Landlord’s Representative or Tenant’s Representative, as the case may be. Either party may change its Representative under this Work Letter at any time by providing three (3) days’ prior written notice to
the other party. 
 3. Building Design and Construction. All work will be performed by designers and contractors selected, engaged
and paid by Tenant and reasonably approved by Landlord. 
 4. Cost Responsibilities; Construction Allowance. 

Tenant will construct the Improvements . Landlord will provide the Construction Allowance (as defined in Article 1 of the Lease) to fund the
cost of construction to the extent it does not exceed the Construction Allowance. The Construction Allowance will be disbursed by Landlord pursuant to Section 8 of this Exhibit B. Tenant shall reimburse Landlord for 100% of the utility
charges to Landlord for the Building (other than those charges billed directly to Tenant) unless Tenant reasonably demonstrates that Landlord is drawing utility services in the Building for Landlord’s own purposes, in which case Landlord will
charge the Tenant for utility usage based upon the proportionate share of utility usage (calculated on a per square foot basis) in the Building during any such dual usage period. Any construction-related utility charges may be assessed against, and
deducted from, the Construction Allowance. 

  
 37 

 5. Landlord’s Approval. Landlord has approved the Expansion Plan. Change Orders
must be approved in writing by the Landlord, which approval shall not be umeasonably withheld, conditioned, excepted, or delayed. Landlord, in its sole discretion, may withhold its approval of any Change Order that: 

(a) Exceeds or adversely affects the structural integrity of the Building, or any part of the heating, ventilating, air conditioning, plumbing,
mechanical, electrical, communication, or other systems of the Building; 
 (b) Would not be approved by a prudent owner of property similar
to the Building; 
 (c) Violates any agreement that affects the Building or binds the Landlord; 

(d) Landlord reasonably believes will increase the cost of operation or maintenance of any of the systems of the Building; 

(e) Does not conform to applicable building codes and Laws or is not approved, or would not be approved, by any governmental,
quasi-governmental, or utility authority with jurisdiction over the Premises; or 
 (f) Does not conform to the Building Standard. 

6. Schedule of lmprovement Activities. 

(a) After the Effective Date, Tenant will cause additional application to be made to the appropriate governmental authorities and to Landlord
for necessary approvals and building permits, as applicable, with the assistance of Landlord, as long as Landlord incurs no cost. Upon receipt of the necessary approvals and permits, Tenant may begin construction of the Improvements subject to
Tenant presenting to Landlord evidence of Tenant’s required insurance coverage under the Lease, including without limitation a Builder’s Risk Policy acceptable to Landlord with a minimum coverage amount of the full costs of completion of
the Improvements. At no time will Tenant’s work violate the City of College Park’s noise ordinance (Chapter 138 of the Code of the City of College Park, Maryland). 

(b) Landlord’s approval of the Expansion Plan will create no responsibility or liability on the part of Landlord for the completeness,
design sufficiency, or compliance with all laws, rules, and regulations of governmental agencies or authorities with respect to such plans, specifications, and Improvements constructed in conformity with them. However, the University’s final
approval of construction—including University Fire Marshall approval—will evidence the sole legal authority and approval for Tenant to use and occupy the Premises. The University represents that neither Prince George’s County nor the
City of College Park have regulatory authority over the Premises. 
 (c) Landlord must review and approve any Change Orders that materially
change the nature of the work to be performed (but not those that only address pricing or matters not related to the work). 

  
 38 

 (d) Pursuant to the terms of the Lease, Tenant will have exclusive use of all areas on the
outside of the Building and therefore may make modifications thereto in compliance with all codes, Laws and with Landlord’s reasonable consent to include, but not be limited to, (a) creating parking spaces as required by Tenant by either
restriping the existing paved areas and/or to create additional paved areas (including the removal of the odd slabbed areas adjacent to the paved parking areas), (b) creating outdoor seating areas for Tenant’s employees, (c) removal of any
existing fencing that separates the front parking from the parking areas on the back side of the building, and (d) removal of trees/shrubs as may be required pursuant to Tenant’s installation. 

7. Completion and Rent Commencement Date. Tenant will diligently pursue construction of the Improvements. The Improvements will be
deemed substantially completed when they are ready for Tenant’s use and occupancy according to the Lease. 
 8. Procedures for
Disbursement of the Construction Allowance. 
 The Landlord shall disburse the Construction Allowance, on the schedule set forth below,
provided the following conditions, if applicable, have been met: (a) there shall be no uncured Tenant Event of Default; (b) all insurance coverage required to be maintained by the Tenant under the Lease shall be in full force and effect
(even if the failure to maintain insurance does not yet qualify as an Event of Default); (c) all permits and other government consents have been obtained and remain effective; (d) with respect to any previous disbursements made, the Landlord has
received copies of notarized partial lien waiver forms executed by the contractors and each appropriate subcontractors, supplier and materialman, specifying in each such partial lien waiver the amount paid in consideration of such partial release;
(e) copies of contracts, invoices or other reasonably acceptable documentation shall be submitted by Tenant to Landlord to substantiate Tenant’s request for payment for the cost of the Improvements, including “soft costs.” 

The following conditions shall be satisfied prior to the final disbursement of the Retainage: (a) All the conditions listed in the first
paragraph of this Section 8 shall continue to be met; (b) Landlord shall have received a certificate from Tenant to the effect, inter alia, that the Improvements have been substantially completed in accordance with the Expansion Plan and
all applicable building, fire, safety and similar codes and Laws; (c) Landlord has received final lien releases and waivers from the contractor and all subcontractors; and (d) Landlord has received two (2) sets of detailed as-built plans and specifications for the Improvements. The as-built plans must include plans and specifications for architectural, structural, mechanical, plumbing and
electrical. 
 Disbursement of the Construction Allowance will be made in accordance with the following schedule: 

 

			
	 Amount
	 	 Time of Disbursement

	$1,545,000.00	 	Not later than 10 days after the Effective Date.
	$1,545,000.00	 	Not later than 10 days after Landlord’s receipt of reasonably satisfactory evidence that Tenant has paid 25% of the cost of the Improvements and all other conditions precedent in this Work Letter are satisfied including
notarized lien releases for all work completed to date.
	$1,545,000.00	 	Not later than 10 days after Landlord’s receipt of reasonably satisfactory evidence that Tenant has paid 50% of the cost of the Improvements and all other conditions precedent in this Work Letter are satisfied including
signed lien releases for all work completed to date.
	$515,000.00
 (Retainage)
	 	Not later than 10 days after Tenant provides Landlord with a certification that all Improvements are substantially complete and all other conditions precedent in this Work Letter are satisfied, including signed lien releases for
all work.

  
 39 

 The Construction Allowance is based upon Landlord’s initial review of Tenant’s
July 2, 2019 summary of the Tenant’s expansion project, its schematic design narrative and its general estimate that Tenant’s build-out work would provide for approximately $3,000,000 for site
work, utilities and building envelope and infrastructure and approximately $2,000,000 for general tenant fit-out construction (which may include IT/AV/Security infrastructure), plus an additional $150,000 to
account for work on the Outside Areas. The Landlord confirms that the July 2, 2019 summary of the Tenant’s expansion project has been incorporated into, and made part of the now-approved Expansion
Plan. 
 9. Risk of Loss. Except as may result from the gross negligence or willful misconduct of Landlord or Landlord’s agents,
Tenant assumes all risk of loss and all liability for all Claims, Damages and Costs arising from or relating to Tenant’s entry into and work in the Expansion Premises during the construction of the Improvements and will indemnify Landlord in
accordance with Section 5.5, Article 9 and Section 11.8 of the Lease. Tenant shall maintain the insurance described in Section 6(a) of this Exhibit B. 

 

			
	LANDLORD:
	
	UNIVERSITY OF MARYLAND, COLLEGE PARK

			
		
	By:	 	/s/ Carlo Colella

			
		 	Carlo Colella
		 	Vice President for Administration and Finance
	
	Date: 3-12-2020
	
	TENANT:
	
	IONQ, INC.
		
	By:	 	/s/ Peter Chapman
		 	Peter Chapman
		 	President/CEO
	
	Date: 3/10/2020

  
 40 

			
	$515,000.00
 (Retainage)
	 	Not later than 10 days after Tenant provides Landlord with a certification that all Improvements are substantially complete and all other conditions precedent in this Work Letter are satisfied, including signed lien releases for
all work.

 The Construction Allowance is based upon Landlord’s initial review of Tenant’s July 2, 2019
summary of the Tenant’s expansion project, its schematic design narrative and its general estimate that Tenant’s build-out work would provide for approximately $3,000,000 for site work, utilities and
building envelope and infrastructure and approximately $2,000,000 for general tenant fit-out construction (which may include IT/AV/Security infrastructure), plus an additional $150,000 to account for work on
the Outside Areas. The Landlord confirms that the July 2, 2019 summary of the Tenant’s expansion project has been incorporated into, and made part of the now-approved Expansion Plan. 

9. Risk of Loss. Except as may result from the gross negligence or willful misconduct of Landlord or Landlord’s agents, Tenant
assumes all risk of loss and all liability for all Claims, Damages and Costs arising from or relating to Tenant’s entry into and work in the Expansion Premises during the construction of the Improvements and will indemnify Landlord in
accordance with Section 5.5, Article 9 and Section 11.8 of the Lease. Tenant shall maintain the insurance described in Section 6(a) of this Exhibit B. 

 

			
	LANDLORD:
	
	UNIVERSITY OF MARYLAND, COLLEGE PARK

			
		
	By:	 	/s/ Carlo Colella

			
		 	Carlo Colella
		 	Vice President for Administration and Finance
	
	Date: 3-12-2020
	
	TENANT:
	
	IONQ, INC.
		
	By:	 	/s/ Peter Chapman
		 	Peter Chapman
		 	President/CEO
	
	Date: 3/10/2020

  
 40 

 EXHIBIT C 

Notice of Lease Term Dates 
  

					
	 To:    
	 	
                   
             
	 	
		 	 	 	
		 	 	 	
		 	 	 	

  

	Re:	 Office Lease dated March ___, 2020, between the University of Maryland, College Park (“Landlord”),
and IonQ, Inc. (“Tenant”) 

 Ladies and Gentlemen: 

In accordance with the Office Lease (the “Lease”), we hereby confirm: 

1. The Premises are substantially completed and the Rent Commencement Date is
                    , which date is the first day of the 120-month Lease Term, ending on
                    , the Expiration Date. 

2. The number of rentable square feet within the Premises is approximately 32,101 rentable square feet. 

 

			
	 LANDLORD:

	
	UNIVERSITY OF MARYLAND, COLLEGE PARK
		
	By:	 	 
		 	Carlo Colella
		 	Vice President for Administration and Finance
	
	AGREED AND CONFIRMED:
	
	TENANT:
	
	IonQ, Inc.
		
	By:	 	 
		 	[NAME]
		 	[TITLE]

  
 41 

 EXHIBIT D 

Form of Tenant Estoppel Certificate 
 The
undersigned as Tenant under that certain Lease dated March__ , 2020 (the “Lease’’.) between the University of Maryland, College Park, as “Landlord”, and the undersigned, as “Tenant”, for Premises in the Building
located at 4505 Campus Drive, College Park, Maryland 20742, certifies as follows: 
  

	 	1.	 True, correct, and complete copies of the Lease and all amendments, modifications, and supplements to it are
attached. The Lease, as so amended, modified, and supplemented, is in full force and effect, and represents the entire agreement between Tenant and Landlord with respect to the Premises and the Building. There are no amendments, modifications, or
supplements to the Lease, whether oral or written, except as follows (include the date of such amendment, modification or supplement): __________________________________________ 

 
  

 
  

 

	 	2.	 The undersigned has commenced occupancy of the Premises described in the Lease. The Rent Commencement Date of
the Lease occurred on                  and Rent has been paid since such date in accordance with the terms of the Lease. The Expiration Date is
                . 

  

	 	3.	 Tenant has neither transferred, assigned, or sublet any portion of the Premises nor entered into any license or
concession agreements with respect to them, except: __________________________________________ 

  

	 	4.	 Except as set forth in this Lease, Tenant does not have any right or option to renew or extend the term of the
Lease, to lease other space at the Building, nor any preferential right to purchase all or any part of the Premises or the Building. 

  

	 	5.	 Except as noted below, all conditions of the Lease to be performed by Landlord necessary to the enforceability
of the Lease have been satisfied and Landlord is not in default. All space and improvements leased by Tenant have been completed and furnished in accordance with the provisions of the Lease, and Tenant has accepted and taken possession of the
Premises. 

  

	 	6.	 There are no offsets or credits against rentals payable under the Lease and no free periods or rental
concessions have been granted to Tenant, except:
                                         
                                         
               

  

	 	7.	 All monthly installments of Base Rent; all Additional Rent, and all monthly installments of estimated
Additional Rent have been paid when due through                 . The current monthly installment of Base Rent is
$                . 

  

	 	8.	 The undersigned acknowledges that this Estoppel Certificate may be delivered to Landlord’s prospective
mortgagee, or a prospective purchaser, and acknowledges that it recognizes that if same is done, the mortgagee, prospective mortgagee, or prospective purchaser will be relying upon the statements contained in this Certificate in making the loan or
acquiring the property of which the Premises are a part, and in accepting an assignment of the Lease as collateral security, and that receipt by it of this Certificate is a condition of making of the loan or acquisition of such property.

  
 42 

	 	9.	 Each individual executing this Estoppel Certificate on behalf of Tenant hereby represents and warrants that
Tenant is a duly formed and existing entity in the state of its organization and is qualified to do business in Maryland and that Tenant has full right and authority to execute and deliver this Estoppel Certificate and that each person signing on
behalf of Tenant is authorized to do so. 

 Executed on the _____day of _____, 20 _. 

 

			
	 TENANT:

	IonQ, Inc.
		
	By:	 	 
	Name:	 	 
	Its:	 	 

  
 43

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