Document:

EX-10.1

 Exhibit 10.1 

THIRD AMENDMENT TO LEASE 

This Third Amendment to Lease (this “Amendment”) is made as of September 24, 2014 by and between BURLINGTON CENTRE OWNER
LLC, a Delaware limited liability company (“Landlord”), and THE ENDURANCE INTERNATIONAL GROUP, INC., a Delaware corporation (“Tenant”). 

RECITALS 
 A. Landlord and
Tenant entered into that certain Gross Lease dated as of May 17, 2012, pursuant to which Tenant leases certain space consisting of approximately 38,062 rentable square feet (the “Initial Premises”) located on the third (3rd) floor of that certain office building located at 10 Corporate Drive, Burlington, Massachusetts (the “Building”), as amended by that certain First Amendment to Lease dated as
of June 13, 2013 (the “First Amendment”), pursuant to which Tenant leases an additional 21,417 rentable square feet (the “Expansion Premises”) located on the second (2nd) floor of the Building, and as further amended by that Second Amendment to Lease dated as of March 28, 2014 (as amended, the “Original Lease”). 

B. Landlord and Tenant hereby desire to amend the Original Lease to amend certain provisions regarding the delivery of the Expansion Premises.

 C. The Original Lease, as amended by this Amendment, shall be referred to herein as the “Lease”. Any capitalized terms
used herein not otherwise defined shall have the respective meanings ascribed to them in the Original Lease. 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant hereby agree as follows: 

1. Amendment of Certain Definitions. The Lease is hereby amended by revising the following definitions to Original Lease as amended
thereof: 
  

	 	(a)	Expansion Access Date. The earlier to occur of (a) the date that Landlord substantially completes the Expansion Improvements; or (b) the date Tenant commences operation of its business in all or
any portion of the Expansion Premises. 

  

	 	(b)	Expansion Plans and Specifications. Those certain plans and specifications for the Expansion Improvements, if any, listed on Schedule 1 attached to this Amendment and any modifications to
such Expansion Plans and Specifications approved in accordance with the terms hereof. 

  

	 	(c)	Expansion Tenant Improvement Allowance. The maximum amount, if any, to be incurred by Landlord to construct the Expansion Improvements, which shall not exceed the maximum of (i) One Million Three
Hundred Thirty-Eight Thousand Five Hundred Sixty-Two and 50/100 Dollars ($1,338,562.50) (calculated based upon Sixty-Two and 50/100 Dollars ($62.50) per rentable square foot of the Expansion Premises), and (ii) Three Hundred Eighty Thousand Six
Hundred Twenty and 00/100 Dollars ($380,620.00) (calculated based upon Ten and 00/100 Dollars ($10.00) per rentable square foot of the Initial Premises). 

  

	 	(d)	Expansion Tenant Improvement Costs. All costs and expenses incurred in connection with the completion of the Expansion Improvements, including, without limitation, all hard and soft costs and the
Management Fee. 

  

	 	(e)	Landlord’s Additional Expansion Work. Those alterations or improvements necessary to construct the Expansion Improvements as set forth in Landlord’s additional expansion work outline attached
hereto as Schedule 2 attached hereto, in accordance with the Expansion Plans and Specifications. 

 2. Expansion Plans and Specifications: Final Expansion Space Plan: Landlord’s
Expansion Work. 
 (a) Pursuant to Section 6 of the First Amendment, Tenant has provided to Landlord the
Expansion Space Plan required pursuant to Section 6(b) of the First Amendment. Landlord has retained Walsh/Cochis Associates (the “Architect”) to prepare a revised Expansion Space Plan in accordance with the Final Expansion
Plans and Specifications for the Expansion Improvements as set forth on Schedule 1. On or before September 26, 2014, Landlord shall (subject to reimbursement out of the Expansion Tenant Improvement Allowance as set forth below)
cause the Architect to prepare and submit to Tenant for Tenant’s review a final Expansion Space Plan for Landlord’s Additional Expansion Work (the “Final Expansion Space Plan”). The Final Expansion Space Plan shall be
based on the Expansion Plans and Specifications and shall not deviate therefrom in any material respect without Tenant’s consent, such consent not to be unreasonably withheld, delayed or conditioned. Tenant shall approve or disapprove the Final
Expansion Space Plan within two (2) business days after submittal by Landlord. If Tenant disapproves the Final Expansion Space Plan, Tenant shall explain in reasonable detail the reason for such disapproval. Landlord shall then cause the Final
Expansion Space Plan to be revised accordingly and re-submitted to Tenant within three (3) business days thereafter, whereupon the procedure set forth in this Section shall begin again. 

(b) Tenant hereby acknowledges that the Expansion Space Planning Fees have been paid in full and Landlord shall not be
responsible to Tenant for any Expansion Space Planning Fees. 
 (c) Tenant hereby acknowledges and agrees that
Landlord’s Expansion Work, as required pursuant to Section 7 of the First Amendment has been completed and Landlord shall have no further obligations with respect to Landlord’s Expansion Work. 

3. Tenant’s Contribution to Expansion Tenant Improvement Costs. Section 8 of the First Amendment is hereby deleted in
its entirety. 
 4. Construction of Expansion Improvements. 

(a) Upon Tenant’s approval of the Final Expansion Space Plan, Landlord shall prepare (or cause the preparation of) an
estimate of the costs and expenses to construct the Expansion Improvements in accordance with the Expansion Plans and Specifications. The cost estimate will include the actual costs quoted by all contractors, and separately state the Landlord
construction management fee of four percent (4%) of the Expansion Tenant Improvement Allowance (“Management Fee”), which shall be deducted monthly based on the percentage of construction completed, commencing on the first day
of the calendar month immediately following the date on which the Expansion Improvements are commenced. If the quoted estimated cost to construct the Expansion Improvements in the Final Expansion Space Plan exceeds the Expansion Tenant Improvement
Allowance, Tenant may request that the Landlord cause the Architect to alter the Final Expansion Space Plan, provided, however, any such requests for changes to the Final Expansion Space Plan that delays the construction of the Expansion
Improvements or requests the inclusion of materials or installations in the construction of the Expansion Improvements other than building standard items or items with delivery requirements that may have the effect of delaying substantial completion
of the Expansion Improvements shall be considered a Tenant Delay (as defined below). Costs associated with any engineered required plans, construction drawings, and/or as-built drawings for the Expansion Premises and the Management Fee shall be
included in the fees or costs itemized and deducted from the Expansion Tenant Improvement Allowance. The Landlord and Tenant must mutually agree to the final cost to construct the Expansion Space Plan (“Expansion Space Estimated Final
Cost”) prior to proceeding with the construction on the Expansion Premises in accordance with the Final Expansion Space Plans, which shall in no event be later than November 15, 2014 

  
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(“Expansion Space Final Cost Approval”). Landlord agrees to cause its general contractor selected by Landlord, to seek competitive bids for construction of the Expansion
Improvements from at least two qualified subcontractors approved by Landlord and to provide Tenant with summaries of such bids upon request. Landlord shall notify Tenant within one (1) week after the close of the bid process if the Expansion
Space Estimated Final Cost of the Expansion Improvements set forth in the Final Expansion Space Plan exceeds the Expansion Tenant Improvement Allowance (“Excess Amount”) and Tenant shall have the right to request changes to the
Final Expansion Space Plans as set forth above to limit the Excess Amount, subject to the Tenant Delay provisions set forth herein. If applicable, the Excess Amount shall be funded by Tenant and paid to Landlord as follows: one-third (1/3) ten
(10) days after Expansion Space Final Cost Approval; one-third (1/3) thirty (30) days after Expansion Space Final Cost Approval; and one-third (1/3) of the Excess Amount, within ten (10) days after substantial completion of
the Expansion Premises. In the event Tenant shall request changes to the materials or installations in the construction of the Expansion Improvements after the Expansion Space Final Cost Approval, Tenant shall be responsible for 100% of the payment
of any additional costs or charges related to such change orders. 
 (b) Landlord shall make no material changes to the Final
Expansion Space Plans or the work reflected in the Final Expansion Space Plans without the written consent of the Tenant, which consent shall not be unreasonably withheld, conditioned or delayed provided such changes do not materially alter the
ability of the Tenant to use the Expansion Space as intended, and do not increase the amount of the Excess Amount. Tenant shall have the right, at Tenant’s sole cost and expense, to have, its construction representative, at the Expansion
Premises and the Initial Premises at all times during the construction of the Expansion Improvements to review and monitor the performance of same; provided, however, Tenant’s construction representative shall not interfere with or delay the
construction of the Expansion Improvements. 
 (c) All Expansion Improvements, regardless of which party constructed or paid
for them, shall become the property of Landlord and shall remain upon and be surrendered with the Premises upon the expiration or earlier termination of this Lease; provided that, at Landlord’s election and upon notice to Tenant, Tenant
shall be required to remove all or any portion of the Expansion Improvements (including Telecommunication Facilities) upon the expiration or earlier termination of the Lease. Landlord agrees that any Expansion Improvements requiring removal will be
identified in writing when the Final Expansion Space Plans are approved by the Landlord. Tenant shall not be required to remove any such Expansion Improvements not so identified. However, Tenant reserves the right to amend and resubmit the Final
Expansion Space Plans within seven (7) days after receipt of Landlord’s approval thereof. Landlord hereby requires Tenant to remove any wiring and cabling installed by Tenant, including, without limitation, the Expansion Improvement
Systems, and the internal staircase connecting the Initial Premises with the Expansion Premises. All unattached and moveable partitions, trade fixtures, moveable equipment or furniture located in the Premises and acquired by or for the account of
Tenant which can be removed without material damage to the Building or Premises, and all personal items brought into the Premises by Tenant shall be owned by Tenant and may be removed by Tenant subject to and in accordance with Paragraph 4.7 of the
Original Lease, including but not limited to all servers, server racks, generators, supplemental HVAC units, furniture, phone and TV systems. 

(d) Landlord shall endeavor to substantially complete the Expansion Improvements in accordance with this Section 4 and
deliver possession of the Premises to Tenant on or prior to April 1, 2015 (the “Target Delivery Date”), subject to a day for day extension for delays caused solely by Force Majeure, Tenant Delay, or casualty) (time being of the
essence). For the purposes of this Amendment, “substantial completion” shall mean (i) Landlord’s completion of the Expansion Improvements, subject only to the Final Punchlist (as defined below) and other uncompleted elements of
construction, decoration, painting, millwork or other work and mechanical adjustment that will not interfere materially with occupancy by Tenant, and (ii) if not 

  
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already done, Landlord’s submission to Tenant of an issued and effective certificate of occupancy (or its equivalent) for the Expansion Premises for the Permitted Use and a certification
signed by the Architect certifying that the Expansion Improvements have been completed in accordance with the Final Expansion Space Plans; provided, however, that if Landlord is unable to obtain such certificate of occupancy (or its reasonable
equivalent) by virtue of the fact that Tenant has not yet completed the installation of its Expansion Improvement Systems (defined hereinafter) or for any other reason beyond the reasonable control of Landlord, then the Expansion Improvements shall
be deemed substantially complete upon the certification of the Architect as stated in subsection (i), above, notwithstanding anything to the contrary in the foregoing. 

(e) Tenant shall substantially complete the Expansion Improvement Systems, at Tenant’s expense, in a timely manner
pursuant to Landlord’s construction schedule. If Tenant does not perform such work in a timely manner, then Landlord shall have the right, upon prior written notice to Tenant and a reasonable opportunity to cure, to do such work as is necessary
to obtain the certificate of occupancy at Tenant’s expense. If and as long as Tenant does not unreasonably interfere in any way with the construction process (by causing disharmony of labor relations at the Property, scheduling or coordination
difficulties, etc.), Tenant may, with Landlord’s prior written approval (which shall not be unreasonably be withheld, conditioned or delayed), and at Tenant’s sole risk and expense, enter the Expansion Premises fourteen (14) days
prior to the then anticipated Expansion Commencement Date for the purpose of installing Tenant’s data, telephone, audio-visual, internet and video systems and Tenant’s furniture and furniture systems (collectively, the “Expansion
Improvement Systems”). In no event shall the Expansion Improvements include any Expansion Improvement Systems, the responsibility of which shall be Tenant’s. Tenant acknowledges that Landlord’s ability to obtain a certificate of
occupancy for the Expansion Premises depends upon the completion of all or a portion of Expansion Improvement Systems. Each such applicable portion of the Expansion Improvement Systems shall be completed by Tenant no later than the date that
substantial completion of the Expansion Improvements, in accordance with the construction schedule. Prior to the Expansion Commencement Date Tenant shall comply with and perform, and shall cause its employees, agents, contractors, subcontractors,
material suppliers and laborers to comply with and perform, all of Tenant’s obligations under this Lease. In all events, Tenant shall indemnify Landlord in the manner provided in the Lease against any claim, loss or cost arising out of any
interference with, or damage to, the Expansion Improvements or any other work in the Building, or any delay thereto, or any increase in the cost thereof on account in whole or in part of any act, omission, neglect or default by Tenant or any Tenant
contractor. Without limiting the generality of the foregoing, to the extent that the commencement or performance of the Expansion Improvements is delayed on account in whole or in part of any act, omission, neglect, or default by Tenant or any
Tenant contractor, then such delay shall constitute a Tenant Delay as provided herein 
 (f) On a date or dates reasonably
specified by Landlord, Landlord’s architect shall inspect the Expansion Improvements and shall prepare a list of the customary punchlist type items, and any items of a seasonal nature, then remaining to be completed (the “Final
Punchlist”). Landlord shall cause such items to be completed in a diligent manner during regular business hours, but in a manner which will seek to minimize interruption of Tenant’s use and occupancy of the Premises. In any event,
Landlord shall endeavor to complete all punch list work within thirty (30) days (or such longer period as is reasonably required with respect to applicable items), other than matters that cannot be completed owing to their seasonal nature, and
subject to extension for Force Majeure and Tenant Delays. Any disputed Final Punchlist items identified as such during preparation of the Final Punchlist shall be completed by Landlord as aforesaid, subject to Landlord’s right to dispute
whether such disputed items constitute a change to the Expansion Improvements. 
 (g) Except for uncompleted items of the
Expansion Improvements specified in the Final Punchlist, Tenant shall be deemed to have accepted all elements of the Expansion Improvements on the Expansion Commencement Date. In the case of a dispute concerning the

  
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completion of items of Expansion Improvements specified in the Final Punchlist, such items shall be deemed completed and accepted by Tenant upon the delivery to Tenant of a certificate of the
Architect that such items have been completed unless the certification is unreasonable and is disputed by Tenant by a notice to Landlord given within five (5) business days of Tenant’s receipt of the certification. 

(h) The Target Delivery Date shall be extended by the number of days of actual construction delay in achieving substantial
completion resulting from Force Majeure or Tenant Delay. Except as expressly set forth in the Lease, if the Expansion Improvements have not been substantially completed by the Target Delivery Date, then Landlord shall not be subject to any penalty,
claim or liability nor shall the validity of this Lease or the obligations of Tenant hereunder be in any way affected. For purposes of this Lease, “Tenant Delay” means a delay in the performance or completion of the Landlord’s
Additional Expansion Work to the extent resulting from: (i) Tenant’s failure to comply with any of the delivery dates or approval dates contained in this Section 4 relative to the design, planning, selection of finishes and pricing
for the Expansion Improvements; (ii) Tenant’s failure to provide response to requests for information, approvals or disapprovals regarding the Expansion Improvements within the time periods established in this Section 4 (or if not so
stated, then within three (3) business days after request by Landlord or its contractors); (iii) Tenant’s requests for changes in the Final Expansion Space Plan causing a delay or for the inclusion of materials or installations in the
construction of the Expansion Improvements other than building standard items or items with delivery requirements that may have the effect of delaying the substantial completion of the Expansion Improvements beyond the Target Delivery Date;
(iv) any acts, omissions, defaults or misconduct of Tenant (or its agents, employees, design professionals, contractors, licensees or invitees) with respect to the construction of the Expansion Improvements; (v) any request by Tenant that
Landlord delay the commencement of, or suspend the performance of, any Expansion Improvements; (vi) failure of Tenant to complete any of the Expansion Improvement Systems in accordance with Landlord’s construction schedule; (vii) any
interference with Landlord’s construction of the Expansion Improvements caused by Tenant or its contractors, subcontractors or suppliers; and (viii) any other act or omission of Tenant, any Tenant contractor, or any of their officers,
employers, agents, or contractors. 
 (i) Upon completion of the Expansion Improvements and application of the Expansion
Tenant Improvement Allowance against the total costs for the Expansion Tenant Improvement Costs, the unexpended and unapplied balance of the Expansion Tenant Improvement Allowance (if any) up to the maximum aggregate amount of One Hundred
Thirty-Three Thousand Eight Hundred Fifty-Six and 25/100 Dollars ($133,856.25 (based upon Six and 25/100 Dollars ($6.25) per rentable square foot of the Expansion Premises) shall be available to Tenant in a single draw payable upon Landlord’s
receipt of Tenant’s draw request; provided, however, in no event shall Tenant be entitled to make such a draw request prior to thirty (30) days after Landlord achieves substantial completion of the Expansion Improvements. Landlord agrees
to provide a complete accounting of the total costs to complete the Expansion Improvements within thirty (30) days of completion of the Expansion Improvements. Tenant may request copies of invoices, bills of sale, and any other documentation
reasonably requested to support the actual costs, if they vary from the approved estimate. Tenant shall not be entitled to receive any rent abatement, credit or payment on account of any unexpended portion of the Expansion Tenant Improvement
Allowance. Notwithstanding anything to the contrary contained herein, in the event that Tenant has not submitted a draw request in accordance with this Section 4(i) to Landlord by August 30, 2015 (time being of the essence), Landlord shall
have no further obligation to fund or otherwise advance or remit any of the Expansion Tenant Improvement Allowance to Tenant. 
 5.
Exhibits. The First Amendment Exhibit C is hereby deleted in its entirety and replaced with Exhibit C attached hereto and made a part hereof. 

  
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 6. Brokers. Landlord and Tenant warrant to each other that they have had no
dealings with any broker, agent or finder in connection with this Amendment except representatives of Landlord and Tenant. Landlord agrees to pay the commissions due to such brokerage companies pursuant to separate agreements. Each party hereto
agrees to protect, indemnify and hold harmless the other from and against any and all expenses with respect to any compensation, commissions and charges claimed by any other broker, agent or finder not identified above with respect to this Amendment
or the negotiation thereof that is made by reason of any action or agreement by such party. 
 7. Lease Ratification. This
instrument and all of the terms and provisions hereof shall be considered for all purposes to be incorporated into and made part of the Original Lease. The Original Lease and each provision, covenant, condition, obligation, right and power contained
therein is hereby ratified and confirmed, and, as modified hereby, shall continue in full force and effect. All references appearing in the Original Lease and in any related instruments shall be amended and read hereafter to be references to the
Original Lease as amended by this Amendment. In the event of any inconsistencies or conflicts between other provisions of the Original Lease and the provisions of this Amendment, the provisions hereof shall govern and control. Except as specifically
amended in this Amendment, the Lease is and shall remain in full force and effect and has not been amended, modified, terminated or assigned. 

8. Independence of Covenants. Landlord’s and Tenant’s covenants in the Lease are independent and, without limiting the
generality of the foregoing, Tenant acknowledges that its covenant to pay Base Rent and Additional Rent is independent of Landlord’s obligations under the Lease, and that in the event that Tenant shall have a claim against Landlord, Tenant
shall not have the right to deduct the amount allegedly owed to Tenant from any Base Rent or Additional Rent due under the Lease, it being understood that Tenant’s sole remedy for recovering upon such claim shall be to bring an independent
legal action against Landlord. 
 9. Authority. Each party represents and warrants to the other that such party and the person
signing on its behalf are duly authorized to execute and deliver this Amendment and that this Amendment constitutes its legal, valid and binding obligation. 

10. Execution. This Amendment may be executed in any number of counterparts, each of which shall be an original, but all of
which shall constitute one instrument. The parties agree that this Amendment may be transmitted between them by facsimile machine or electronic mail and the parties intend that a faxed or emailed Amendment containing either the original and/or
copies of the signature of all parties shall constitute a binding Amendment. 
 11. Governing Law/Binding Effect. The Lease
and this Amendment and the rights and obligations of both parties thereunder and hereunder shall be governed by the laws of the Commonwealth of Massachusetts and shall be binding upon and inure to the benefit of the Landlord and Tenant and their
respective legal representatives, successors and assigns. 
 12. Effective Date. The submission of this document for
examination and negotiation does not constitute an offer to lease, or a reservation of, or option for, the Premises. This Amendment shall become effective and binding only upon execution and delivery of this Amendment by all of the parties hereto
and approval by Landlord’s lender. 
 SIGNATURES FOLLOW ON NEXT PAGE 

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

  

			
	LANDLORD:
	
	BURLINGTON CENTRE OWNER LLC, a Delaware limited liability company
	
	By: BURLINGTON CENTRE JV LLC, a Delaware limited liability company, its sole member

  

			
	By: DIV FUND II GP, LLC, a Delaware limited liability company, as agent for the managing member
		
	By:	 	/s/ Richard McCready
	Name: Richard McCready
	Title: President
	
	and
	
	By: BURLINGTON GAVI MEMBER, LLC, a Delaware limited liability company, its co-managing member

  

			
	By: PRINCIPAL REAL ESTATE INVESTORS, LLC, a Delaware limited liability company, its authorized signatory
		
	By	 	/s/ Ronnie J. Bily
		 	Name: Ronnie J. Bily
		 	Title: Investment Director - Asset Management
		
	By	 	 
		 	Name:
		 	Title:

  

			
	TENANT:
	
	THE ENDURANCE INTERNATIONAL GROUP, INC., a Delaware corporation
		
	By:	 	/s/ Timothy Mathews
		 	Name: Timothy Mathews
		 	Title: VP, Controller

  
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 SECRETARY’S CERTIFICATE 

I, David Bryson, Secretary of The Endurance Group, Inc a. Delaware corporation (the “Company”), hereby certify that Timothy Mathews,
as VP, Controller, of the Company has authority to execute and deliver to Burlington Centre Owner, LLC the Lease related to the building located at, known as and numbered 10 Corporate Drive, Burlington, Massachusetts, a copy of which Lease is
attached hereto and made a part hereof on behalf of the Company. 
 Witness my signature on this 26th day of September, 2014. 
  

			
	The Endurance International Group, Inc.
		
	By:	 	/s/ David Bryson
	Name: David Bryson
	Title: Secretary

  
 8 

 SCHEDULE 1 

Expansion Plans and Specifications 

[See Pages Attached Hereto] 

  
 9 

 

 

 SCHEDULE 2 

Landlord’s Additional Expansion Work 

[See Pages Attached Hereto] 

  
 10 

 2014_0427TI.001 

PROPOSED TENANT IMPROVEMENTS FOR 

ENDURANCE 
 10 Corporate Drive
Burlington – Floor Two 
 9-12-2014 

Referenced Floor Plan: 
 SP1 dated 9-4-2014 

1. Demolition: 
 Saw cut and remove existing third floor slab
construction in area of new stair. Remove existing door at end of common hallway. 
 2. Interior Partitions: 

New interior walls shall be constructed of 3-5/8” x 25 Ga. metal studs at 16” O/C with 1/2” gypsum wallboard on both sides. Walls shall extend
to 6” above the ceiling grid unless noted otherwise below. 
 Walls surrounding one large Legal office, one large Finance office and two large HR
offices to extend to underside of deck above, with acoustical insulation between studs (total of four offices). 
 Walls adjacent to open office exposed
ceiling area to extend to underside of deck above. 
 Transitions between open office ceiling areas and areas with suspended ceilings shall have metal stud
and gypsum board soffits from finish ceiling to underside of deck above. 
 Extend existing gypsum board finish to deck above along all perimeter walls in
open office areas with no ceilings. 
 3. Doors, Frames and Hardware: 

New doors shall be 3’ x 1-3/4” x 7’-10” paint grade wood veneer with KD HM frames. 

Provide building standard 3’ wide tempered glass door with 3’ wide fixed tempered glass sidelight at elevator lobby entrance (not indicated on floor
plan). 
 4. Ceilings: 
 Four open office areas to have exposed
ceiling construction with no suspended ceiling. 
 All other areas not noted above to have suspended ceilings, Armstrong Ultima tegular tiles in 9/16”
grid. 
 Ceilings at large Finance conference room, small HR conference room and small Legal conference room to have exposed construction around perimeter
(first two feet from walls) with center area of suspended ceiling. 

 10 Corporate Drive Burlington 

9-12-2014 
 Page 2 of 4 

 

 5. Floor Finishes: 

Include a $30.00 per square yard allowance to furnish and install carpet and/or carpet tiles at open office areas, private offices, copy/print rooms, phone
rooms, and conference rooms. 
 Provide Armstrong Standard Excelon vinyl floor tile at kitchenette, IDF room and all storage rooms. 

Area within collaborative lounge surrounding new stair shall have a stained and sealed concrete finish. 

Provide new 4” vinyl base on all walls. 
 6. Paint: 

Gypsum board walls throughout the entire tenant space shall be painted, and shall receive one primer and two finish coats of latex eggshell finish paint. 

All door frames shall receive a primer and two finish coats of latex acrylic semi gloss paint. 

Provide paint graphics (to match third floor) at perimeter column enclosures within open office areas (total of five columns). 

7. Lighting: 
 Light fixtures in open office areas with exposed
ceiling construction to be Copper pendent fluorescent units, Elements Concave Perf with 2 -54W T5 HO lamps. 
 Light fixtures at large Finance conference
room, small HR conference room and small Legal conference room to be Neo Ray recessed linear fluorescent fixtures type 23DR with 2 32W T8 lamps. 
 Light
fixtures at all other areas to be Metalux 2x2 recessed direct/indirect florescent 2RDI ovation series with -14W T5 lamps. 
 Each room and area shall be
individually switched. Provide dual technology occupancy sensor switches at all private offices, storage rooms and conference rooms. Provide ceiling mounted dual technology occupancy sensors to control open office lighting with wall switch over
ride. Provide standard toggle switches at all other areas. 
 8. Power: 

Provide 16 dedicated 20A circuits for tenant’s open office work stations. 

Provide 5 dedicated 20A receptacles in the kitchen. 

 10 Corporate Drive Burlington 

9-12-2014 
 Page 3 of 4 

 

 Provide 3 dedicated 20A receptacles for tenant’s office equipment at locations to be determined. 

Provide 4 dedicated 20A receptacles at the IDF room. 
 Provide
two 20A-120V convenience receptacles at each office and conference room, with 8 receptacles per 20A circuit. 
 Provide receptacles for wall mounted (tenant
furnished) TV’s at 6 conference/meeting rooms. 
 9. HVAC: 

Relocate existing main duct line in open office areas with exposed ceiling construction. 

Provide new system diffusers and ductwork, controls & other equipment as required by new layout. 

Provide a split system cooling unit at the IDF room. 
 Provide
building standard VAV’s and FPT’s as required to zone conference and meeting rooms separately from private and open office areas. 
 10. Plumbing:

 Provide ADA compliant single bowl stainless steel sinks and faucets at the wellness room and kitchenette. 

11. Fire Protection: 
 Existing sprinkler system is to be
modified as required by new layout. 
 12. Life Safety: 

Modify and add to existing emergency lighting, exit signs, fire extinguishers and fire alarm horn/strobe units as required by new layout. 

13. Misc: 
 Provide plastic laminate clad base and wall cabinets
and counter at wellness room and kitchenette. 
 Provide plastic laminate clad counters (open below) with three rows of adjustable shelving above at three
copy/print rooms/areas. 
 Provide building standard perimeter window blinds throughout space. 

Provide blocking for wall mounted (tenant furnished) TV’s at 6 conference/meeting rooms. 

Provide counters (open below) at four phone rooms (counters not indicated on floor plan). 

 10 Corporate Drive Burlington 

9-12-2014 
 Page 4 of 4 

 

 Provide tempered glass window wall and sidelights (aligned with top of door frames) at offices and conference
rooms as indicated on the floor plan. 
 Provide new concrete filled metal pan stair with stainless steel wire mesh guard panels and handrails. Modify
existing floor framing as required by new stair opening. 
 14. Work not included: 

Telephone and computer wiring, outlets and equipment. 

Furnishings, including, but not limited to, open office work stations and reception desk. 

Security and card access systems. 
 Connections, piping and
dispensers for water filtration system. 
 Furnishing of TV’s and appliances (other than dishwasher). 

Graphics on glass wall panels. 
 END 

 EXHIBIT C 

Expansion Work Outline 

[See Schedule 2 of the Third Amendment to Lease] 

  
 11Exhibit 10.1

 

AIR METHODS CORPORATION

PERFORMANCE PAY PLAN

PERFORMANCE-BASED SHARE UNIT AWARD AGREEMENT

This Performance-Based Share Unit Award Agreement (the “Award Agreement”) is made as of this [____] day of [___________], 20[__] (the “Grant Date”), between Air Methods Corporation, a Delaware corporation (the “Company”), and [________________________] (the “Participant”).

 

WHEREAS, the Company’s Board of Directors (the “Board”) has adopted, and the stockholders have approved, the Performance Pay Plan (the “Plan”) in order to advance the interests of the Company through the initiative, resourcefulness, teamwork, motivation and efficiency of certain members of the Company’s senior management team;

 

WHEREAS, the Committee has determined that the Participant is a person eligible to receive an incentive award under the Plan and has determined that it would be in the best interest of the Company to grant the incentive award provided for herein.

 

NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the parties agree as follows:

 

1.            Definitions. Capitalized terms used herein shall have the same meanings ascribed to them in the Plan. Whenever the following terms are used in this Award Agreement, they shall have the meanings set forth below.

 

1.1           “Corporate Transaction” means:

 

(a)           The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% or more of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors;

 

(b)           In the event the Board is a classified board, a majority of the individuals who serve in the same class of directors that constitute the Board as of the Grant Date (the “Incumbent Board”) cease for any reason to constitute at least a majority of that class of directors, or in the event the Board is not a classified board, members of the Incumbent Board cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Grant Date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board (including for these purposes, the new members whose election or nomination was so approved, without counting the member and her predecessor twice) shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board;

 

    	  

    	 

    
 

 

(c)           Consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its subsidiaries (each, a “Business Combination”), in each case unless, following such Business Combination, (A) all or substantially all of the individuals and entities that were the beneficial owners of the Company’s outstanding voting securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding voting securities of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets directly or through one or more subsidiaries (a “Parent”)), and (B) at least a majority of the members of the board of directors or trustees of the entity resulting from such Business Combination or a Parent were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or

 

(d)           Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.

 

1.2           “Peer Group” means the companies listed on Appendix A; provided that a company (other than the Company) shall be removed from the Peer Group for a Performance Period if during such period, (i) the common stock of such company ceases to be publicly traded on an established securities market, (ii) such company ceases to maintain publicly available statements of operations prepared in accordance with United States generally accepted accounting principles, consistently applied, (iii) such company is not the surviving entity in any merger, consolidation, or other reorganization (or survives only as a subsidiary of an entity other than a previously wholly owned subsidiary of such company), (iv) such company sells, leases, or exchanges all or substantially all of its assets to any other person or entity (other than a previously wholly owned subsidiary of such company), or (v) such company is dissolved and liquidated.

 

1.3           “Performance Period” means the period commencing July 1, 2014 and ending on June 30, 2017.

 

1.4           “Permanent Disability” shall mean the Participant’s inability, due to illness, accident, injury, physical or mental incapacity or other disability, to carry out effectively the duties and obligations to the Company performed by such person immediately prior to such disability for a period of at least six (6) months, as determined in the good faith judgment of the Committee.

 

1.5           “Retirement” shall mean a Participant’s retirement from the Company (A) on or after attaining age 55 and completing at least ten (10) years of service; or (B) on or after attaining age 65.

 

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1.6           “Severance Date” shall mean the last day that Participant is employed by or provides services to the Company.

 

1.7           “TSR” means a company’s total shareholder return, calculated based on the stock price appreciation during a specified measurement period plus the value of dividends paid on such stock during the measurement period (which shall be deemed to have been reinvested in the underlying company’s stock on the ex-dividend date); provided that the Committee may make appropriate adjustments to reflect any changes in the capital stock of any Peer Group company (e.g. stock splits, subdivision or consolidation of shares) that occurs during the Performance Period.

 

1.8           “TSR Percentile” means the percentile rank of the Company’s TSR during the Performance Period relative to the TSR of other companies in the Peer Group during the Performance Period as determined by the Committee; provided that for purposes of measuring the TSR Percentile, the beginning and ending TSR values shall be calculated based on the average of the closing prices of the applicable company’s stock for the 20 trading days prior to and including the beginning or ending date, as applicable, of the Performance Period.

 

2.             Performance Share Units.

 

2.1          The Company hereby grants to the Participant [________] Performance Share Units, subject to such conditions as are provided for in the Plan and this Award Agreement. Each “Performance Share Unit” is a phantom stock right that entitles the Grantee to receive one share of the Company’s common stock, $0.06 par value per share (the “Common Stock”) for each Earned Performance Share Unit.

 

2.2          Subject to Section 4 below, upon expiration of the Performance Period, a number of Performance Share Units shall vest equal to the product of the aggregate number of Performance Share Units set forth in Section 2.1 multiplied by the percentage corresponding to the Company’s TSR Percentile during the Performance Period in accordance with the following table (such Performance Share Units, the “Earned Performance Share Units”):

 

	

Company’s TSR Percentile

	 	

% of Performance Share Units

	
Below the 25th Percentile:

	 	
0%

	
25th TSR Percentile:

	 	
33 1/3%

	
50th TSR Percentile:

	 	
66 2/3%

	
75th TSR Percentile and Above:

	 	
100%

 

If the Company’s TSR Percentile during the Performance Period is between two of the TSR Percentiles in the above table, the corresponding percentage of Performance Share Units shall be calculated using linear interpolation (e.g., 65th TSR Percentile would result in a percentage of Performance Share Units of 86 2/3%). Except as set forth in Section 4 below, any Performance Share Units that do not become Earned Performance Share Units shall be forfeited and cancelled upon expiration of the Performance Period. The Committee will certify in writing and provide Participant with written notice of the number of Earned Performance Share Units promptly following the end of the Performance Period.

 

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2.3           Notwithstanding the foregoing and subject to Section 4 below, the Performance Share Units shall vest only if the Participant’s services with the Company, whether as an employee or consultant, is not interrupted or terminated (“Continuous Service”) from the Grant Date through the last day of the Performance Period. The Participant’s Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Participant renders service to the Company. The Committee, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence, including sick leave, military leave or any other personal leave. Upon the termination of the Participant’s Continuous Service prior to the end of the Performance Period, other than as provided in Section 4 below, all Performance Share Units shall be forfeited and cancelled, and neither the Participant nor his or her heirs, executors, administrators or successors shall have any right or interest in the Performance Share Units.

 

2.4           Participant acknowledges receipt of a copy of the Plan, and agrees that this Award Agreement shall be subject to all of the terms and conditions set forth in the Plan, including future amendments thereto, if any, pursuant to the terms thereof, which Plan is incorporated herein by reference as a part of this Award Agreement.

 

3.            No Rights of a Stockholder. The Participant shall have no voting, rights to receive dividends or other rights as a stockholder of the Company with respect to this award until such time, if any, that the Earned Performance Shared Units vest and shares of Common Stock are issued pursuant to Section 5. The Participant’s right to receive Common Stock earned under this Agreement shall be no greater than the right of any unsecured general creditor of the Company.

 

4.            Accelerated Vesting of Performance Share Units.

 

4.1           Notwithstanding Section 2.3 above, if a Corporate Transaction is consummated prior to the last day of the Performance Period, then at the date of consummation of the Corporate Transaction, Participant shall vest in a number of Earned Performance Share Units calculated in the manner set forth in Section 2.2 above except that (i) the Company’s TSR shall be calculated based on the price per share of Common Stock paid to the Company’s holders of Common Stock in the Corporate Transaction and (ii) for purposes of calculating the TSR Percentile, the Performance Period shall be deemed to have ended on the date of consummation of the Corporate Transaction.

 

4.2           Notwithstanding Section 2.3 above, if Participant’s employment with or provision of services to the Company is terminated prior to the last day of the Performance Period as a result of Participant’s death or Permanent Disability, then at the Severance Date, Participant shall vest in a number of Earned Performance Share Units calculated in the manner set forth in Section 2.2 above except that (i) the number of Performance Share Units will be pro-rated based on the number of days that Participant was employed or provided services to the Company between the Grant Date and the Severance Date as a percentage of the number of days in the Performance Period, and (ii) for purposes of calculating the TSR Percentile, the Performance Period shall be deemed to have ended on the Severance Date.

 

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4.3           Notwithstanding Section 2.3 above, if Participant’s employment with or provision of services to the Company is terminated prior to the last day of the Performance Period as a result of Participant’s Retirement, then the Performance Share Units shall not be forfeited and Participant shall continue to hold the Performance Share Units through the end of the Performance Period. At the expiration of the Performance Period, Participant shall vest in a number of Earned Performance Share Units calculated in the manner set forth in Section 2.2 above except that the number of Earned Performance Share Units will be pro-rated based on the number of days that Participant was employed or provided services to the Company between the Grant Date and the Severance Date as a percentage of the number of days in the Performance Period.

 

5.            Delivery of Shares. As soon as reasonably practicable after Performance Share Units become Earned Performance Share Units, a stock certificate (which may be in electronic form) for such number of shares of Common Stock equal to the number of Earned Performance Share Units in the name of the Participant shall be delivered to the Participant (or, in the case of Participant’s death or Permanent Disability, to the Participant’s estate or guardian), subject to the Company’s collection of applicable withholding taxes in accordance with Section 9 below. All shares of Common Stock issuable to the Participant shall be issued under the Second Amended and Restated Air Methods 2006 Equity Compensation Plan or such other stockholder-approved compensation plan that may be adopted by the Company (the “Equity Plan”), and the Company shall at all times ensure that there are sufficient shares reserved for issuance under the Equity Plan to satisfy its obligations hereunder.

 

6.            No Right to Continued Employment. Nothing in this Award Agreement or the Plan shall confer upon the Participant the right to maintain his or her relationship with the Company, whether as an employee or consultant, nor shall it interfere in any way with any right of the Company to terminate its relationship with the Participant at any time for any reason whatsoever, with or without cause.

 

7.             Prohibited Activities.

 

7.1           During the term of the Participant’s employment and for a period of six months after termination of employment (the “Restricted Period”), the Participant will not:

 

 (a)           be employed, including as an employee, consultant or otherwise, by any person or entity that is engaged in the business of air medical emergency transport services and systems;

 

 (b)           directly or indirectly hire or solicit an employee who is or, at any time during the three months prior to the Participant’s termination of employment, was an employee of the Company or any of its subsidiaries; or

 

 (c)           usurp any corporate opportunity of the Company or its subsidiaries or otherwise interfere with the relationship between the Company or its subsidiaries and any person or entity with whom the Company or its subsidiaries is conducting, proposes to conduct or has during the six months prior to the Participant’s termination of employment conducted any business activities.

 

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7.2           The Participant and the Company acknowledge that it would be extremely difficult and impracticable, if not impossible, to ascertain with any degree of certainty the amount of damages which would be suffered by the Company in the event the Participant breaches any of the provisions contained in Section 7.1 (each, a “Prohibited Activity”). The Participant and the Company hereby agree that the reasonable estimate of said damages shall be an amount equal to the amount recognized by the Participant as income (net of taxes withheld) with respect to any Performance Share Units that vested within six months prior to the date of termination of the Participant’s employment (the “Clawback Amount”). The right to receive the Clawback Amount shall be the Company’s sole remedy in the event of the occurrence of a Prohibited Activity. The Clawback Amount shall be paid by the Participant within 15 days after occurrence of the Prohibited Activity and may be payable in cash or an equivalent amount of Common Stock, at the option of the Participant.

 

7.3           In the event the Participant is subject to any other non-competition provisions, which are set forth in an agreement between the Participant and the Company, including without limitation, an employment agreement and/or a non-competition agreement, the terms of such non-competition provision shall govern and control.

 

8.            Adjustments Upon Recapitalization. In the event of any stock dividend, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, exchange of shares, grant of warrants or rights offering to purchase Common Stock at a price materially below fair market value or other similar corporate event affecting the Common Stock, the Committee shall adjust the award issued hereunder in order to preserve the benefits or potential benefits intended to be made available under this Award Agreement. All adjustments shall be made in the sole and exclusive discretion of the Committee, whose determination shall be final, binding and conclusive. Notice of any adjustment shall be given to the Participant.

 

9.            Withholding of Taxes. In order to comply with all applicable federal or state income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal or state payroll, withholding, income or other taxes, which are the sole and absolute responsibility of the Participant, are withheld or collected from the Participant. In accordance with the terms of the Plan and/or the Equity Plan, and such rules as may be adopted by the Committee under the Plan and/or the Equity Plan, the Participant may elect to satisfy the Participant’s federal and state tax withholding obligations arising from the settlement of any Earned Performance Share Units, by (i) delivering cash, check (bank check, certified check or personal check) or money order payable to the Company equal to the minimum amount of such taxes, (ii) having the Company withhold a portion of the Common Stock otherwise to be delivered having a Fair Market Value equal to the minimum amount of such taxes, (iii) delivering to the Company shares of Common Stock already owned by Participant having a Fair Market Value equal to the minimum amount of such taxes, or (iv) allowing the Company to deduct from any amount otherwise payable in cash to the Participant an amount equal to the minimum amount of such taxes.

 

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10.          Tax Considerations. The Company has advised Participant to seek Participant’s own tax and financial advice with regard to the federal and state tax considerations resulting from Participant’s receipt of the Performance Share Units pursuant to this Award Agreement. Participant understands that the Company will report to appropriate taxing authorities the payment to Participant of compensation income upon the vesting of the Performance Share Units. Participant understands that he or she is solely responsible for the payment of all federal and state taxes resulting from this grant of Performance Share Units.

 

11.          Modification of Award Agreement. Except as set forth in the Plan and in this Award Agreement, this Award Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the parties hereto.

 

12.          Severability. Should any provision of this Award Agreement be held by a court of competent jurisdiction to be unenforceable or invalid for any reason, the remaining provisions of this Award Agreement shall not be affected by such holding and shall continue in full force and effect in accordance with their terms.

 

13.     Governing Law. This Award Agreement and all rights arising hereunder shall be governed by, and construed and interpreted in accordance with, the laws of the State of Colorado.

 

14.          Successors in Interest. This Award Agreement shall inure to the benefit of and be binding upon any successor to the Company and upon the Participant’s heirs, executors, administrators and successors. No right or interest of the Participant pursuant to this Award Agreement shall be assignable or transferable in whole or in part, either directly or by operation of law or otherwise, including, but not by way of limitation, execution, levy, garnishment, attachment, pledge, bankruptcy, or in any other manner, and no right or interest of the Participant pursuant to this Award Agreement shall be liable for, or subject to, any obligation or liability of the Participant. Any assignment, pledge, encumbrance, charge, transfer, or other act in violation of this Section 14 shall be void.

 

15.          Conflicts and Interpretation. In the event of any ambiguity in this Award Agreement, or any matters as to which this Award Agreement is silent, the Plan shall govern including, without limitation, the provisions thereof pursuant to which the Committee has the power, among others, to (i) interpret the Plan, (ii) prescribe, amend and rescind rules and regulations relating to the Plan and (iii) make all other determinations deemed necessary or advisable for the administration of the Plan.

 

16.          Compliance with Code Section 409A. The Performance Share Units granted under this Award Agreement are intended to fit within the “short-term deferral” exemption from section 409A of the Code, and this Award Agreement shall be interpreted and administered in accordance with such intent.

 

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	 	AIR METHODS CORPORATION
	 	 	 
	 	 	 
	
 

	
By: 

	 
	 	 	Name:
	 	 	Title: 
	 	 	 
	 	 	 
	 	PARTICIPANT
	 	 
	 	 	 
	 	 	Name:

 

    	  

    	 

    
 

 

Appendix A

Peer Group

Air Methods Corporation

AmSurg Corp.

Atlas Air Worldwide Holdings, Inc.

Bio-Reference Laboratories, Inc.

Bristow Group Inc.

Hanger, Inc.

HealthSouth Corporation

Healthways, Inc.

HEICO Corporation

LHC Group, Inc.

LifePoint Hospitals, Inc.

Mednax Inc.

Air Transport Services Group, Inc.

Phi, Inc.

Select Medical Holdings Corporation

Team Health Holdings, Inc.

Viad Corp

Acadia Healthcare Company, Inc.

The Ensign Group, Inc.

ExamWorks Group, Inc.

IPC The Hospitalist Company, Inc.

AAR Corp.

Envision Healthcare Holdings, Inc.

CHC Group Ltd.

Era Group Inc.

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