Document:

Form of Directors Stock Option Agreement

 Exhibit 10.4 
  
 AMERICAN ACCESS TECHNOLOGIES, INC. 
  
 DIRECTORS STOCK OPTION AGREEMENT 
  
 American Access Technologies, Inc. (the “Company”), desiring to afford an opportunity to the Grantee named below to purchase
certain shares of the Company’s common stock pursuant to the Company’s 2004 Director Stock Option Plan, hereby grants to Grantee, and the Grantee hereby accepts, an option to purchase the number of such shares optioned as specified below,
during the term ending at midnight (prevailing local time at the Company’s principal offices) on the expiration date of this Option specified below, at the option exercise price specified below, subject to and upon the following terms and
conditions: 
  
 1. Identifying Provisions: As used in this Option, the following
terms shall have the following respective meanings: 
  
 (a) Grantee: 

 
 (b) Date of grant:  
  
 (c) Number of shares optioned: 
  
 (d) Option exercise price per share: 
  
 (e) Expiration date: 
  
 This Option is not intended to be and shall not be treated as an incentive stock option under Section 422 of the Internal Revenue Code. 
  
 2. Timing of Purchases: Except as otherwise provided herein, this Option may be exercised until and including the expiration date of this
Option whereupon the Option shall expire and may thereafter no longer be exercised. 
  
 3. Restrictions on Exercise: The following additional provisions shall apply to the exercise of this Option: 
  
 (i) Termination of Directorship. If the Grantee ceases to be a director of the Company for any reason other than death only that portion of this Option exercisable at the
time of such termination may thereafter be exercised, and it may not be exercised more than three (3) months after such termination nor after the expiration date of this Option, whichever date is sooner, unless such termination is by reason of the
Grantee’s permanent and total disability, in which case such period of three (3) months shall be extended to one (1) year. 
  
 (ii) Death of Grantee. If the Grantee shall die during the term of this Option, the Grantee’s legal representative or representatives, or the person or persons
entitled to do so under the Grantee’s last will and testament or under applicable intestate laws, shall have the right to exercise this Option, but only for the number of shares as to which the Grantee was entitled to exercise this Option in
accordance with Section 2 hereof on the date of his death, and such right shall expire and this Option shall terminate one (1) year after the date of the Grantee’s death or on the expiration date of this Option, whichever date is sooner. In all
other respects, this Option shall terminate upon such death. 
  
 (iii) Approval by
Shareholders. The shareholders of the Company have approved the Plan under which this Option was issued on July 23, 2004. 
  
 (iv) Further Restrictions on Exercise. Exercise of this Option is subject to further restrictions as may be set forth herein or in an Exhibit hereto. 
  
 4. Non-Transferable: The Grantee may not transfer this Option except by will or the laws of
descent and distribution. This Option shall not be otherwise transferred, assigned, pledged, hypothecated or disposed of in any way, whether by operation of law or otherwise, and shall be exercisable during the Grantee’s lifetime only by the
Grantee or his guardian or legal representative. 
  

 5. Adjustments and Corporate Reorganizations: In the event that the outstanding shares of Common Stock are hereafter
changed by reason of recapitalization, reclassification, stock split, combination or exchange of shares of Common Stock or the like, or by the issuance of dividends payable in shares of Common Stock, an appropriate adjustment shall be made by the
Committee, in the number of shares of Common Stock issuable upon exercise of this Option and the Option Price per share. In the event of any consolidation or merger of the Company with or into another company, or the conveyance of all or
substantially all of the assets of the Company to another company, this Option shall upon exercise thereafter entitle the Grantee to such number of shares of Common Stock or other securities or property to which a holder of shares of Common Stock of
the Company would have been entitled to upon such consolidation, merger or conveyance; and in any such case appropriate adjustment, as determined by the Committee shall be made as set forth above with respect to any future changes in the
capitalization of the Company or its successor entity. In the event of the proposed dissolution or liquidation of the Company, this Option will automatically terminate as of the date of liquidation or termination, unless otherwise provided by the
Board of Directors of the Company or any authorized committee thereof. If a fraction of a share of Common Stock would result from any such adjustment, the adjustment shall be revised to the next higher whole share of Common Stock. 
  
 6. Exercise, Payment For and Delivery of Stock: This Option may be exercised by the Grantee
or other person then entitled to exercise it by giving four (4) business days’ written notice of exercise to the Company specifying the number of shares to be purchased and the total purchase price, accompanied by a check to the order of the
Company in payment of such price. If the Company is required to withhold on account of any present or future tax imposed as a result of such exercise, the notice of exercise shall be accompanied by a check to the order of the Company in payment of
the amount of such withholding. Subject to such rules as may be established by the Committee, and to the extent permitted by law, payment of the exercise price for shares purchased pursuant to the exercise of this Option may be made all or in part
by delivery (on a form acceptable to the Committee) of an irrevocable direction to a registered broker dealer acceptable to the Company to sell shares of Company Common Stock and to deliver all or part of the sales proceeds to the Company in payment
of the Option Price and any withholding taxes. No method of payment may be utilized to exercise options by officers and directors of the Company in the event it shall be determined that such method of exercise constitutes a prohibited loan to such
person. 
  
 7. Alternative Payment with Stock: Notwithstanding the foregoing
provisions requiring payment by check, payment of such purchase price or any portion thereof may be made through the tender to the Company of shares of Company Common Stock, free and clear of all liens and encumbrances and duly endorsed for
transfer, which shares, if acquired from the Company, shall have been held for at least six months at the time of tender and which shall be valued, for purposes of determining the extent to which the exercise price has been paid thereby, at their
Fair Market Value on the date of exercise, provided, however, that such payment in stock instead of cash shall not be effective and shall be rejected by the Company if (i) the Company is then prohibited from purchasing or acquiring shares of the
class of its stock thus tendered to it, or (ii) the right or power of the person exercising the Option to deliver such shares in payment of said purchase price is subject to the prior interests of any other person (excepting the Company), as
indicated by legends upon the certificate(s) or as known to the Company. If the Company rejects the payment in stock, the tendered notice of exercise shall not be effective hereunder unless promptly after being notified of such rejection the person
exercising the Option pays the purchase price in acceptable form. 
  
 8. Rights in
Shares Before Issuance and Delivery: No person shall be entitled to the privileges of stock ownership in respect of any shares issuable upon exercise of this Option, unless and until such shares have been issued to such person as fully paid shares.

  
 9. Requirements of Law and of Stock Exchanges: By accepting this Option, the
Grantee represents and agrees for himself and his transferees by will or the laws of descent and distribution that, unless a registration statement under the Securities Act of 1933 is in effect as to shares purchased upon any exercise of this
Option, (i) any and all shares so purchased shall be acquired for his personal account and not with a view to or for sale in connection with any distribution, and (ii) each notice of the exercise of any portion of this Option shall be accompanied by
a representation and warranty in writing, signed by the person entitled to exercise the same, that the shares are being so acquired in good faith for his personal account and not with view to or for sale in connection with any distribution.

  
 No certificate or certificates for shares of stock purchased upon exercise of
this Option shall be issued and delivered prior to the admission of such shares to listing on notice of issuance on any stock exchange or other securities market on which shares of that class are then listed, nor unless and until, in the opinion of
counsel for the Company, such securities may be issued and delivered without causing the Company to be in violation of or incur any liability under any federal, state or other securities law, any requirement of any securities exchange listing
agreement to which the Company may be a party, or any other requirement of law or of any regulatory body having jurisdiction over the Company. 
  

 10. Replacement Options. If and when this Option is exercised and the exercise price is paid with previously outstanding
shares or with shares as to which this Option is being exercised, as permitted in paragraph 7 hereof, upon such exercise of this Option the Grantee will automatically and simultaneously receive a supplemental option (herein sometimes referred to as
a “replacement option”) for a number of shares equal to the number of shares delivered by the Grantee in such exercise of this Option, subject to adjustments of the sort provided in paragraph 5 hereof, at an exercise price per share equal
to the Fair Market Value (as defined herein) of the shares subject to the replacement option on the date this Option is thus exercised. Subject to earlier termination as set forth in Paragraph 3 hereof, the term of the replacement option shall
expire and the replacement option shall no longer be exercisable, on the later to occur of (i) the expiration date of the originally exercised Option or (ii) ten years from the date of grant of the replacement option. The replacement option shall
not itself provide for any further replacement options upon its exercise, whether or not the exercise price of the replacement option is paid with previously outstanding shares or with shares as to which it is being exercised. Notwithstanding
anything contained herein to the contrary, no replacement options will be granted hereunder if the Grantee is no longer a director of the Company as of the date of the exercise of this Option. In addition, and notwithstanding anything contained
herein to the contrary, in the event there is not a sufficient number of shares of Common Stock authorized for issuance upon exercise of a replacement option under the Plan, the Company shall use its best efforts to cause such number of authorized
shares of Common Stock underlying the Plan to be increased, provided, however, that if the Company is unable to so cause such increase in the authorized number of shares of Common Stock underlying the Plan to be effectuated, the ability of the
Grantee to exercise such replacement option may be delayed indefinitely until such time as the requisite number of shares of Common Stock is so authorized. 
  
 11. Certain Definitions. As used in this Option: 
  
 “Fair Market Value” of corporate stock shall mean: 
  
 (a) If the stock is then Publicly Traded: The closing price of stock of that class as of the day in question (or, if such day is not a trading day in the principal
securities market or markets for such stock, on the nearest preceding trading day), as reported with respect to the market (or the composite of markets, if more than one) in which shares of such stock are then traded, or, if no such closing prices
are reported, on the basis of the mean between the high bid and low asked prices that day on the principal market or quotation system on which shares of such stock are then quoted, or, if not so quoted, as furnished by a professional securities
dealer making a market in such stock selected by or under authority of the board of directors of the Company. 
  
 (b) If the stock is then not Publicly Traded: The price at which one could reasonably expect such stock to be sold in an arm’s length transaction, for cash, other than on an installment basis, to a person not
employed by, controlled by, in control of or under common control with the issuer of such shares. Such Fair Market Value shall be that which has currently or most recently been determined for this purpose by the Company’s board of directors, or
at the discretion of that board by an independent appraiser or appraisers selected by the board, in either case giving due consideration to recent transactions involving shares of such stock, if any, the issuer’s net worth, prospective earning
power and dividend-paying capacity, the goodwill of the issuer’s business, the issuer’s industry position and its management, that industry’s economic outlook, the values of securities of issuers whose stock is Publicly Traded and
which are engaged in similar businesses, the effect of transfer restrictions to which such stock may be subject under law and under the applicable terms of any contract governing such stock, the absence of a public market for such stock and such
other matters as the board or its appraiser or appraisers deem pertinent. The determination by the Company’s board of directors or its appraiser or appraisers of the Fair Market Value shall, if not unreasonable, be conclusive and binding
notwithstanding the possibility that other persons might make a different, and also reasonable, determination. If the Fair Market Value to be used was thus fixed more than sixteen months prior to the day as of which Fair Market Value is being
determined, it shall in any event be no less than the book value of the stock being valued at the end of the most recent period for which financial statements of the issuer are available. 
  
 Corporate stock is “Publicly Traded” if stock of that class is listed or admitted to unlisted trading privileges on a national
securities exchange or on the NASDAQ Stock Market or if sales or bid and offer quotations are reported for that class of stock in the automated quotation system (“NASDAQ”) operated by the National Association of Securities Dealers, Inc.
(“NASD”) or is regularly traded over-the-counter. 
  
 12. Stock Option
Plan: This Option is subject to, and the Company and the Grantee agree to be bound by, all of the terms and conditions of the Company’s 2004 Director Stock Option Plan under which this Option was granted, as the same shall have been amended
from time to time in accordance with the terms thereof, provided that no such amendment shall deprive the Grantee, without his consent, of this Option or any of his rights hereunder. Pursuant to said Plan, the board of directors of the Company or
its Committee established for such purposes is vested with final authority to interpret and construe the Plan and this Option, and is authorized to adopt rules and regulations for carrying out the Plan. A copy of the Plan in its 

  

 
present form is available for inspection during business hours by the Grantee or other persons entitled to exercise this Option at the Company’s
principal office. 
  
 13. Notices: Any notice to be given to the Company shall be
addressed to the Company in care of its Secretary at its principal office, and any notice to be given to the Grantee shall be addressed to him at the address given beneath his signature hereto or at such other address as the Grantee may hereafter
designate in writing to the Company. Any such notice shall be deemed duly given when enclosed in a properly sealed envelope or wrapper addressed as aforesaid, registered or certified, and deposited, postage and registry or certification fee prepaid,
in a post office or branch post office regularly maintained by the United States Postal Service. 
  
 14. Laws Applicable to Construction: This Agreement, and any dispute arising from the relationship between the parties to this Agreement, shall be governed by Florida law, excluding any laws that direct the
application of another jurisdiction’s laws. 
  
 15. Consent to Jurisdiction,
Forum Selection and Waiver of Jury Trial. The Company and the Grantee hereto agree that all actions or proceedings arising in connection with this Agreement shall be tried and litigated exclusively in the State and Federal courts located in the
County of Clay, State of Florida. The aforementioned choice of venue is intended by the parties to be mandatory and not permissive in nature, thereby precluding the possibility of litigation between the parties with respect to or arising out of this
Agreement in any jurisdiction other than that specified in this paragraph. Each party hereby waives any right it may have to assert the doctrine of forum non conveniens or similar doctrine or to object to venue with respect to any proceeding brought
in accordance with this paragraph, and stipulates that the State and Federal courts located in the County of Clay, State of Florida shall have in personam jurisdiction and venue over each of them for the purpose of litigating any dispute,
controversy, or proceeding arising out of or related to this Agreement. Each party hereby authorizes and accepts service of process sufficient for personal jurisdiction in any action against it as contemplated by this paragraph by registered or
certified mail, return receipt requested, postage prepaid, to its address for the giving of notices as set forth in this Agreement. Any final judgement rendered against a party in any action or proceeding shall be conclusive as to the subject of
such final judgement and may be enforced in other jurisdictions in any manner provided by law. TO THE FULLEST EXTENT PERMITTED BY LAW, AND AS SEPARATELY BARGAINED-FOR-CONSIDERATION, EACH PARTY HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY ACTION,
SUIT, PROCEEDING, OR COUNTERCLAIM OF ANY KIND ARISING OUT OF OR RELATING TO THIS AGREEMENT. 
  
 IN WITNESS WHEREOF, the Company has granted this Option on the date of grant specified above. 
  

									
	 AMERICAN ACCESS TECHNOLOGIES, INC.
	 	 	 	 GRANTEE:
	 	 
					
	By	 	 	 	 	 	ADDRESS:	 	 

  
 Title        tLeasehold Improvements Lease between HPCLI, Inc. & The Huntington National Bank

 Exhibit 10(a) 
  
 LEASEHOLD IMPROVEMENTS LEASE 
  

THIS LEASE is made on August 12, 2004, to be effective as of October 15, 2001, between HPCLI,
Inc., an Ohio corporation, whose address is 41 South High Street, Columbus, Ohio 43215 (“Lessor”), and The Huntington National Bank, a national banking association, whose address is 41 South High Street, Columbus, Ohio 43215
(“Lessee”). 
  
 1. Definitions. 
  
 For the purposes of this Lease, the following terms shall have the following
definitions and meanings: 
  
 (a) Commencement Date:
August 12, 2004, to be effective as of October 15, 2001. 
  
 (b)
Event of Default: As set forth in Paragraph 12 below. 
  
 (c) Extended Term: As set forth in Paragraph 5 below. 
  
 (d) Initial Term: The period of five years commencing October 15, 2001, and expiring on October 14, 2006. 
  
 (e) Leased Offices: The specific office locations that are leased by Lessee and used in the conduct of Lessee’s operations, which Lease
Offices are identified on Exhibit A attached hereto. 
  
 (f) Leasehold Improvements: All leasehold improvements designated as nonresidential real property under section 168(c) of the Internal Revenue Code of 1986 existing in the Leased Offices on the date hereof, which Leasehold
Improvements are identified on Exhibit A attached hereto. 
  
 (g) Rent: As set forth in Paragraph 3 below. 
  
 (h) Term: The Initial Term plus any Extended Terms exercised by Lessee pursuant to Paragraph 5 below. 
  
 (i) Underlying Office Lease: A lease under which a Leased Office is leased by Lessee. 
  
 2. Lease of Leasehold Improvements. 
  
 Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, the Leasehold Improvements for the Term hereof (or for such shorter period of time
as hereinafter provided), upon and subject to the terms, covenants, and conditions set forth herein and subject to the Underlying Office Leases. 
  
 3. Rent. 
  
 (a) Lessee agrees to pay Lessor as rent for the Leasehold Improvements for the Initial Term the amount of $6,300,000 per year, payable in equal monthly
installments of $525,000 each (the “Rent”). During any Extended Term, the Rent shall be calculated in accordance with the provisions of Paragraph 5 below. 
  
 (b) The Rent shall be paid in twelve (12) equal monthly installments, each in advance by the tenth day of each calendar
month during the Term of this Lease, with such payments being pro-rated on a daily basis for any partial month. The first monthly installment of the Rent hereunder shall be due and payable by November 10, 2001, and shall include a pro-rated amount
for the partial month of October 2001. 

 4. Term. 
  
 (a) The Initial Term of this Lease shall be as set forth in Paragraph 1(d) above, unless sooner terminated as hereinafter provided. The Initial Term may
be renewed by Lessee for the Extended Terms as set forth in Paragraph 5 below. 
  
 (b) Lessor and Lessee acknowledge and agree that from time to time during the Term hereof, certain Underlying Office Leases may terminate or expire prior to the expiration of the Term of this Lease, and such
Underlying Office Leases may not be renewed. Upon the occurrence of any such termination or expiration, Lessee’s and Lessor’s respective obligations and rights hereunder shall terminate as to those Leasehold Improvements located at the
Leased Office(s) that are subject to such terminated or expired Underlying Office Leases and such Leasehold Improvements shall no longer be subject to the terms of this Lease. 
  
 (c) Lessor and Lessee further acknowledge and agree that from time to time during the Term hereof, Lessee may desire to
assign its rights under an Underlying Office Lease or sublet a Leased Office where Leasehold Improvements are located to an unrelated entity. 
  
 (d) In the event the rights and obligations of the parties hereto are terminated with respect to any Leasehold Improvements as provided in Paragraph 4(b)
or 4(c) above (the “Terminated Leasehold Improvements”), then Lessee may transfer to Lessor replacement Leasehold Improvements of equal value to the Terminated Leasehold Improvements, which shall become subject to this Lease, whereupon the
parties shall amend Exhibit A attached hereto to identify such replacement Leasehold Improvements and no adjustment shall be made to the Rent as a result of such event. 
  
 5. Option to Renew Term. 
  
 So long as this Lease is in full force and effect and Lessee is not in material default hereunder, this Lease shall automatically renew for up to four
consecutive renewal periods of five years each (individually, the “Extended Term” and collectively, the “Extended Terms”), unless Lessee delivers written notice to Lessor of its intent to terminate this Lease at the end of the
then-current Term. The renewal shall be upon the same terms and conditions as herein contained, except that there shall be no provision to extend the Term hereof beyond the fourth Extended Term and except that at the commencement of each Extended
Term, the monthly Rent shall be reset at (i) one hundred and ten percent (110%) of the monthly depreciation charge attributable to the Leasehold Improvements as of the first day of the applicable Extended Term, as determined for financial reporting
purposes in accordance with generally accepted accounting principles (“GAAP”) as the same are applied by Lessor; plus (ii) five percent (5%) of the total fair market value at the date of inception of the Initial Term of this Lease for any
Leasehold Improvements that are fully depreciated as of the first day of the applicable Extended Term. 
  
 6. Termination of Lease. 
  
 (a) Prior to the expiration or termination of this Lease, Lessee shall elect one of the following options with respect to each Improvement then subject to this Lease, which option shall be exercised by providing Lessor with written notice
of Lessee’s intention to exercise such option at least forty-five (45) days prior to the termination of this Lease: 
  
 (i) purchase all or any of the Leasehold Improvements from Lessor by payment of a purchase price equal to the fair market value of such
Leasehold Improvements at the time of such termination, which shall be payable in full, in cash, at the time of such termination; or 
  
 (ii) deliver all or any of the Leasehold Improvements to Lessor, subject to the rights of the lessors of the Underlying Office Leases, if
any, and assign to Lessor (with the written consent of the lessor under the Underlying Office Lease, if required by such Underlying Office Lease) the Underlying Office Lease for the Leased Office where the Leasehold Improvements are located.

  

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 (b) For the purposes of Paragraph 6(a)(i) above, the term “fair market value” of the Leasehold
Improvements shall have the same meaning as set forth in Paragraph 4(d) above. If Lessee exercises the option described in Paragraph 6(a)(i) above, upon payment of the purchase price, Lessor shall deliver a Bill of Sale and such other documentation
as is reasonably required to transfer title to the Leasehold Improvements purchased by Lessee. 
  
 (c) If Lessee exercises the option set forth in Paragraph 6(a)(ii) above, Lessee shall deliver up the Leasehold Improvements to Lessor in as good condition as such Leasehold Improvements were in at the time when the
same were first delivered to Lessee hereunder, ordinary wear and tear and damage by casualty and condemnation excepted. 
  
 7. Quiet Enjoyment. 
  
 Lessor hereby represents that Lessor has good right and lawful authority to enter into this Lease and that so long as Lessee pays the Rent when due and
performs all covenants hereof on its part to be performed, Lessee shall and may peaceably and quietly have, hold and enjoy the Leasehold Improvements throughout the Term hereof and any extensions thereto, for so long as the Leasehold Improvements
are located at a Leased Office where the Underlying Office Lease is still in effect. Lessee agrees to accept the Leasehold Improvements in such existing condition and state of repair as the same may be in when the Leasehold Improvements initially
become subject to this Lease and without any representation, statement or warranty, express or implied, in respect thereof, or in respect to their condition other than as expressly set forth herein. 
  
 8. Maintenance; Alterations. 
  
 Lessee shall be responsible for keeping the Leasehold Improvements in good
repair and condition during the Term, ordinary wear and tear and damage by casualty and condemnation excepted, in accordance with the terms of the Underlying Office Leases. Lessee may alter or replace all or any part of the Leasehold Improvements
from any of the Leased Offices at any time or times during the Term hereof. 
  
 9.
Insurance. 
  
 Lessee will cause to be carried and
maintained, at its sole expense, at all times during the Term of this Lease and until the Leasehold Improvements have been returned to Lessor, insurance against those risks of loss or damage, including fire, normally and customarily insured in
Lessee’s industry (and in any event not less than Lessee’s own insurance for similar improvements owned or leased by it) in amounts not less than the Improvement’s replacement value. The policies of insurance required under this
Paragraph shall be valid and enforceable policies issued by a company or companies authorized to do business in the State of Ohio, and Lessee agrees upon request of Lessor to deliver to and deposit with Lessor such insurance policy or policies or
certificates thereof, or any renewals or extensions thereof. Notwithstanding anything contained in this Paragraph, Lessee shall have no obligation to insure those Leasehold Improvements located at a Leased Office where the Underlying Office Lease is
no longer in effect. 
  
 10. Risk of Loss; Casualty. 
  
 (a) Lessee hereby assumes all risk of loss, damage, theft, taking,
destruction, confiscation, requisition or condemnation, partial or complete, of the Leasehold Improvements, during the Term hereof. In the event any Improvement is damaged, destroyed, lost, stolen, or title thereto requisitioned or taken by the
owner of the Leased Office where the Leasehold Improvements are located or any governmental authority under power of eminent domain or otherwise, Lessee shall continue to pay the Rent for said Improvement in the same amount and at the same times as
prescribed herein as if such damage or destruction or taking did not occur. 
  
 (b) Further, Lessee hereby covenants that if Lessee receives insurance proceeds or condemnation awards relating to any damaged, destroyed or taken Leasehold Improvements, Lessee shall use such proceeds or awards to
repair, replace or restore (to the extent practicable) such Leasehold Improvements. If such Leasehold Improvements cannot practicably be repaired, replaced or restored, Lessee shall either (i) pay to Lessor an amount 
  

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 equal to the “Stipulated Loss Value” for such Leasehold Improvements, which amount shall be determined by
multiplying the original fair market value of such Leasehold Improvements at the date of inception of the Initial Term of this Lease (as indicated on Exhibit A attached hereto) by the percentage amount identified on Exhibit B attached
hereto that corresponds to the month in which such Leasehold Improvements were damaged, destroyed or taken, or (ii) contribute to this Lease replacement Leasehold Improvements of equal value, in which event the parties shall amend Exhibit A
attached hereto to identify such replacement Leasehold Improvements. 
  
 (c) Lessor hereby assigns and transfers to Lessee all of Lessor’s right, title and interest in and to any and all insurance proceeds or condemnation awards that may be payable as a result of any damage, destruction or taking of the
Leasehold Improvements. Lessor further authorizes and appoints Lessee as its attorney in fact to file all such claims, demands, applications, pleadings or any documents that may be necessary or required to obtain such insurance proceeds or
condemnation awards in either the name of Lessor or Lessee as may be required. 
  
 11. Inspection. 
  
 During the Term hereof,
Lessee, upon two days’ advance written notice, shall permit inspection of the Leasehold Improvements during business hours by Lessor or Lessor’s agents or representatives, and by or on behalf of prospective purchasers; provided, however,
that in no event shall Lessor’s inspection interfere with or delay Lessee’s normal operations. 
  
 12. Default. 
  
 (a) If
any installment of the Rent or other payments herein agreed to be paid by Lessee shall remain or be unpaid thirty (30) days after written notice is received by Lessee; or if Lessee shall breach or fail to perform any of the covenants or agreements
herein contained by Lessee to be performed, and such breach or nonperformance shall continue for thirty (30) days after written notice is received by Lessee (or, if the default requires more than thirty (30) days to be cured and Lessee shall not
have commenced in good faith to cure said breach within such thirty (30) days and diligently prosecuted the same thereafter); or if Lessee shall become insolvent or shall admit in writing the inability of Lessee to pay Lessee’s debts generally
as they become due, or shall file a petition in bankruptcy or make an assignment for the benefit of the creditors of Lessee, or shall consent to the appointment of a receiver of all or any part of Lessee’s property or business, or on a petition
in bankruptcy filed against Lessee; or if Lessee shall be adjudicated a bankrupt (individually, an “Event of Default” and collectively, “Events of Default”); then and in any of said events, the Lessor may at any time thereafter,
in its sole discretion, exercise any one of the remedies listed below: 
  
 (i) terminate this Lease, take possession of all Leasehold Improvements wherever located, and for such purpose enter upon any premises to repossess such Leasehold Improvements; 
  
 (ii) proceed by appropriate court action to enforce specific
performance by Lessee of its obligations contained in this Lease; 
  
 (iii) effectuate a sale of the Leasehold Improvements to Lessee, whereupon Lessee shall pay to Lessor an amount equal to the “Stipulated Loss Value” for the Leasehold Improvements as identified on Exhibit
B attached to this Lease that corresponds to the month in which such sale occurs; or 
  
 (iv) accept an assignment of all or any of the Leasehold Improvements from Lessee by Lessee’s assigning (with the written consent of
the lessor under the Underlying Office Lease) the Underlying Office Lease for the Leased Office where the Leasehold Improvements are located, provided such Underlying Office Lease has a remaining term including renewals of at least five (5) years.

  
 (b) Delays occasioned by fire, strikes, embargoes,
governmental restrictions, or other cause beyond the reasonable control of Lessee shall not be included in calculating any period of grace provided for herein. The time for the performance of any act required to be done by either party shall be
extended by a period equal to any delay caused by or resulting from act of God, war, civil commotion, fire, casualty, labor difficulties, shortages of labor or materials or equipment, governmental regulation, act or default of the other party, or
other causes beyond such party’s reasonable control, whether such time be designated by a fixed date, or a fixed time or otherwise. 
  

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 (c) In the event that any dispute shall arise between Lessor and Lessee with respect to any claimed
default by Lessee and such dispute is referred to arbitration or litigation pursuant to the terms of this Lease, and provided Lessee performs all of the other terms and conditions of this Lease except for the item in dispute, no default shall be
deemed to exist on the part of Lessee and no period for the remedying of such alleged default shall be deemed to commence until the day following the determination of such dispute adversely to Lessee. 
  
 13. Lessor’s Duty to Mitigate. 
  
 In the event that Lessor shall terminate this Lease upon Lessee’s
default and/or shall obtain possession by re-entry, dispossession, summary process, or otherwise, then at any time thereafter Lessor shall use reasonable efforts to mitigate its damages by seeking to relet or resell the Leasehold Improvements, and
the net proceeds of such reletting or reselling (after deducting reasonable expenses) shall be credited by Lessor against any Rent, or other payments due from Lessee at the time of such termination or re-entry or against any damages payable by
Lessee pursuant to law or the terms of this Lease. 
  
 14. Assignment;
Subletting. 
  
 Lessor acknowledges that Lessee may assign
its rights under this Lease, or sublet all or any part of the Leasehold Improvements, without the prior written consent of Lessor. Any such assignment or subletting, however, shall not release Lessee from its obligations hereunder. 
  
 15. Accounting and Other Management Services. 
  
 Accounting services to be provided by Lessee pursuant to this Agreement
shall include, but not necessarily be limited to, the following specific services: 
  
 (a) Maintaining a set of books and records including a detailed general ledger in accordance with generally accepted accounting principles for Lessor; 
  
 (b) Preparing periodic financial statements as requested by Lessor; 
  
 (c) Conducting all actions necessary to maintain appropriate accounting
controls and maintain all appropriate documentation of such accounting procedures and controls; 
  
 (d) Providing all tax preparation services on behalf of Lessor, including but not limited to, preparation of annual federal, state and local income tax
returns and estimated payments, sales/use tax returns, and payroll/unemployment filings as deemed necessary; 
  
 (e) Maintaining insurance coverage for Lessor’s business activities; 
  
 (f) Providing internal audit coverage of Lessor’s business activities and determine whether Lessor’s accounting
records are reasonable; 
  
 (g) Providing accounts payable
services for Lessor, including preparation and disbursement of expenses, tax reporting and maintenance and reconciliation of deposit accounts; and 
  
 (h) Providing all external reporting services on behalf of Lessor. 
  
 Lessor shall pay fees to Lessee as consideration for the performance of accounting and other management services pursuant to the terms of
this Lease an annual management fee of 100 basis points (1%) of the Rent for the Leasehold Improvements. This fee shall be paid on a monthly basis and calculated as 1% of the monthly rental installment paid by Lessee to Lessor. 
  

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 16. Notices. 
  
 Any notice which may be required to be given under this Lease to Lessor may be given by mailing the same in a registered or certified letter, postage
prepaid, or by hand delivery, addressed to Lessor, HPCLI, Inc., 41 S. High Street, Columbus, Ohio 43215, Attention: General Counsel, or at such other place as Lessor may from time to time designate in writing. Any notice which may be required to be
given under this Lease to Lessee may be given by mailing the same in a registered or certified letter, postage prepaid, or by hand delivery, addressed to Lessee, The Huntington National Bank, 41 S. High Street, Columbus, Ohio 43215, Attention:
General Counsel, or at such other place as Lessee may from time to time designate in writing. 
  
 17. No Waiver. 
  
 Except
as may be otherwise provided in this Lease, no delay or omission by either party hereto to exercise any right or power accruing upon any non-compliance or default by the other party with respect to any of the terms hereof shall impair any such right
or power or to be construed to be a waiver thereof, and every such right and power may be exercised at any time during the continuance of such non-compliance or default. It is further agreed that a waiver by either party hereto of any of the
covenants or agreements thereof to be performed by the other party hereto shall not be construed to be a waiver of any succeeding breach thereof or of any other covenants or agreements herein contained. 
  
 18. Binding Effect. 
  
 This Lease shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, executors,
administrators, successors and assigns. 
  
 19. Entire Agreement.

  
 This Lease contains the entire agreement between the parties
hereto and shall not be modified except in writing signed by both parties. 
  
 20.
Consents. 
  
 Notwithstanding any provision in this Lease
to the contrary, any requirement for the consent or approval of either party shall be subject to the further proviso that such consent(s) or approval(s) shall not unreasonably withheld or delayed, and if such consent or approval of either party has
not been given within 10 days of the date requested, such consent or approval shall be deemed given. 
  
 21. Self-Help. 
  
 (a) If
either Lessor or Lessee defaults in making any payment to or for the benefit of the other required by this Lease or in the performance of any other obligation imposed on it by this Lease, and shall not cure such default within thirty (30) days after
written notice thereof (or, if the default requires more than thirty (30) days to be cured, if the defaulting party does not begin to cure the default within that period and then diligently prosecute the cure to completion), then the aggrieved party
(without waiving any claim of breach or for damages) at any time thereafter may make such payment or cure such other default for the account of the defaulting party. If necessary to protect the interest of either party in the Leasehold Improvements,
or to prevent the interruption or further interruption of the conduct of business in any Leased Office, or to prevent injury to persons or damage to property, either party may cure a default by the other prior to the expiration of the waiting period
but after oral or written notice to the other party. 
  
 (b) Any
restoration amount paid or contractual liability incurred by a party in the exercise of its rights under this Paragraph shall be reimbursed by the other party. Lessee’s payments hereunder shall be made as a part of the next installment of the
Rent coming due after Lessee’s receipt of Lessor’s bill for such payment, and any amount 
  

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 due to Lessee hereunder may be offset against all payments due to Lessor under this Lease until Lessee has been fully
reimbursed. Lessor agrees that Lessee’s good faith exercise of rights under this Paragraph, including the withholding of payments to reimburse itself for the cost of such exercise, shall never be deemed to be a default by Lessee in any of its
obligations under this Lease. 
  
 22. Expenses. 
  
 Wherever this Lease requires the performance of an act by either party, such
party shall perform the act at its own cost and expense, unless expressly provided to the contrary. Wherever this Lease requires payment of costs and expenses to the other party, including attorneys’ fees, all such costs, expenses and fees
shall be reasonable. 
  
 23. Captions. 
  
 The captions of the several sections of this Lease are not part of the
context hereof and shall be ignored in construing this Lease. They are intended only by aids in locating various provisions hereof. 
  
 24. Severability. 
  
 Each provision contained in this Lease shall be independent and severable from all other provisions contained herein, and the invalidity of any such
provision shall in no way affect the enforceability of the other provisions. 
  
 25. Governing Law. 
  
 The parties agree that all
questions of enforceability and interpretation which may arise under this Lease shall be determined by the laws of the State of Ohio. 
  
 26. Indemnification. 
  
 To the extent the same would not be covered by the insurance required to be provided by Lessee pursuant to Paragraph 9, and only to said extent, Lessee
agrees to save Lessor harmless from, and indemnify Lessor against, any and all liability, loss or expense (including without limitation reasonable attorneys’ fees) arising out of or incurred in connection with an Event of Default unless caused
by the gross negligence or willful misconduct of Lessor, its employees, agents, and contractors. Likewise, Lessor agrees to save Lessee harmless from, and indemnify Lessee against, any and all liability, loss or expense (including without limitation
reasonable attorneys’ fees) arising out of or incurred in connection with a breach of Lessor’s obligations hereunder. 
  
 26. Arbitration. 
  
 Any controversy or claim arising out of or relating to this Lease or relating to any breach or claimed breach hereof except for non-payment of the Rent,
or any other payment due hereunder, shall be settled by arbitration, in accordance with the rules then pertaining, of the American Arbitration Association. This agreement for arbitration shall be enforceable and judgment upon the award rendered by
all or a majority of the arbitrators may be entered in any court for a judicial acceptance of such award and an order of enforcement, as the case may be. Any such arbitration shall be held in Columbus, Ohio. 
  
 This Space Intentionally Left Blank 
  

 - 7 - 

 IN WITNESS WHEREOF, this Lease has been duly executed
by the parties hereto this 12th day of August, 2004. 
  

			
	HPCLI, INC.
		
	By:	 	 /s/    Richard A. Cheap

	 	 	Richard A. Cheap, Vice President and Secretary
	
	THE HUNTINGTON NATIONAL BANK
		
	By:	 	 /s/    Edward J. Kane

	 	 	Edward J. Kane, Senior Vice President

  

 - 8 - 

 EXHIBIT A 
  
 List of Leasehold Improvements 
  
 (see attached behind) 
  

 - 9 - 

 EXHIBIT B 
  
 STIPULATED LOSS VALUES 
  

			
	 Number of Months
 Since Lease
Inception

	  	Percentage
Decrease in Value

	 Month 1 – 12
	  	15%
	 Month 13 – 24
	  	35%
	 Month 25 – 36
	  	55%
	 Month 37 – 48
	  	75%
	 Month 49 – 60
	  	95%

  

 - 10 -

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