Document:

EX-10.11

 Exhibit 10.11 

SUBLEASE AGREEMENT 
 This
SUBLEASE AGREEMENT (this “Sublease”) is made effective as of July, 30, 2018, by, between and among Microchip Technology Incorporated, a Delaware corporation (“Sublessor”) and Eargo, Inc., a Delaware corporation
(“Sublessee”), collectively referred to as the “Parties”, or individually as a “Party”. 

RECITALS 
 A. By and
through their respective predecessors-in-interest, GI TC 1600 Technology Drive, LLC, a California limited liability company (“Master Lessor”), as
landlord, and Sublessor, as tenant, are parties to that certain Office Lease dated as of August 30, 2011, as amended by that certain First Amendment dated as of June 26, 2012 (the “Master Lease”), relating to certain
premises located at 1600 Technology Drive, San Jose, California. A copy of the Master Lease is attached as Schedule E to this Sublease. 

B. The Master Lease, Section 1.2 defines the terms “Building,” “Premises,” and
“Project.” Where those terms are used in this Sublease, they are intended to have the same meaning as they are defined in the Master Lease. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties provide and
agree as follows: 
 1. Sublease of Building Space. Sublessor hereby subleases to Sublessee space within the Building that is within
the Premises as defined in the Master Lease, as follows: 
 A. That approximately 25,870 rentable square foot space on the sixth floor of the
Building, which space is specifically identified on Schedule A attached to this Sublease (the “Sixth Floor Sublease Premises”); and 

B. That approximately 4,564 rentable square foot space on the first floor of the Building, comprising (i) that approximately 3,214
rentable square foot Test/Assembly Lab (“First Floor Lab”), (ii) that approximately 350 rentable square foot room across the main lobby from the First Floor Lab (“Lobby Room”), and (ii) that approximately 1,000
rentable square foot media studio (“Media Studio”), which space is specifically identified on Schedule B attached to this Sublease (the “First Floor Sublease Premises”). 

C. Except as specifically referenced herein to distinguish the Sixth Floor Sublease Premises from the First Floor Sublease Premises, reference
in this Sublease to the “Sublease Premises” is intended to include both the Sixth Floor Sublease Premises and the First Floor Sublease Premises. 

D. Sublessee shall have non-exclusive rights to the Common Areas (as defined in the Master Lease), as
necessary or desirable for its use of the Sublease Premises. 

 2. Permitted Use of Sublease Premises: 

A. Sublessee’s use of the Sublease Premises shall not differ from, and shall be consistent, with Sublessor’s “Permitted
Use” of the Premises, which Permitted Use is defined in Section 1.7 of the Master Lease. Sublessor shall not engage in any activity or use the Sublease Premises in any way that would be inconsistent with or cause Sublessor to be in
violation of the Permitted Use of the Premises (as defined in Section 1.7 of the Master Lease). 
 B. Sublessee’s use of the
Sublease Premises shall also comply with, and shall not cause Sublessor to be in violation of, the requirements of Section 5.1 of the Master Lease; provided, however, that Sublessor shall remain solely responsible to Master Lessor with regard
to the provisions of Section 5.1 for making any change required under the Law to (i) any Tenant System (as defined in Section 7.1 of the Master Lease) and (ii) any Landlord System or common area (as those terms are defined
Section 5.1 and 7.1.2 of the Master Lease) or the structure of the Roof of the Building caused by any Tenant-Insured Improvement (as defined in Section 10.2.2 of the Master Lease) and Sublessee shall
not have any responsibility therefor unless the change required under the Law is related to any Sublessee improvements installed by or for the benefit of Sublessee, in which case Sublessee shall be responsible for making any change required under
the Law to the same extent Sublessor is or may be liable to the Master Lessor pursuant to Section 5.1 of the Master Lease. 
 3.
Master Lessor Consent. Section 14 of the Master Lease requires the Master Lessor’s approval of any sublease and requires Sublessor and any proposed sublessee to provide certain documentation prior to Master Lessor’s approval of
any sublease. Sublessor and Sublessee acknowledge and understand, that this Sublease shall only become effective upon Master Lessor’s approval of this Sublease and should Master Lessor not approve of the Sublease, the parties release each other
from any liability, costs or obligations associated with the Sublease. Neither Sublessor nor any of Sublessor’s agents have made any representation regarding Master Lessor’s approval of or willingness to approve this Sublease. Sublessee
has not relied on and will not rely on any alleged representation by Sublessor or any of Sublessor’s agents regarding Master Lessor’s approval of or willingness to approve this Sublease. Sublessor and Sublessee agree to provide any
documentation required by Section 14 of the Master Lease, and any other documentation reasonably requested by Master Lessor, for approval of this Sublease. The Parties will provide to the Master Lessor an executed copy of this Sublease for
Master Lessor’s approval. If Master Lessor does not consent in writing to this Sublease within forty-five (45) days after Sublessor and Sublessee’s execution of this Sublease Sublessee may, at
any time thereafter until such approval is obtained, terminate this Sublease upon written notice to Sublessor, whereupon any monies previously paid by Sublessee to Sublessor shall be reimbursed to Sublessee. 

4. Term: 
 A. Sublease
Premises Term: The term of the Sublease for the Sublease Premises shall commence (“Sublease Premises Commencement”) on the later of: (1) September 1, 2018; or (2) the date on which this Sublease is fully executed
by the Parties and after Master Lessor consents to the Sublease as required by Section 14 of the Master Lease. Unless terminated on an earlier date for reasons permitted under this Sublease, the term of the Sublease shall expire on
February 28, 2022. 

  
 2 

 B. Early Access: Provided that (1) this Sublease is fully executed by the
Parties; (2) Master Lessor consents to the Sublease as required by Section 14 of the Master Lease, (3) the Security Deposit and Prepaid Rent have been paid by Sublessee to Sublessor, and (4) Certificates of Insurance as required
in this Sublease are provided by Sublessee to Sublessor, Sublessor grants Sublessee early access to the Sublease Premises prior to the Sublease Premises Commencement date (“Early Access Period”). Except for occupancy by Sublessee of
the Sublease Premises for the purpose of conducting business, during the Early Access Period: (i) Sublessee shall be allowed project manager access to install Lessee’s Initial Alterations (as defined in section 15) and perform the
installation of Sublessee’s furniture, fixtures and equipment (provided the necessary consents for each of these Alterations have been received from Sublessor and Master Lessor in accordance with section 15); and (ii) Sublessee shall
not be obligated for the Rent or operating expenses. 
 C. Termination of Master Lease: Notwithstanding anything to the contrary
under this Sublease,, the termination or expiration of the Master Lease for any reason shall result in the termination of this Sublease and all obligations contained herein immediately upon such termination or expiration of the Master Lease. Subject
to the provisions of sections 19 and 36, Sublessor shall not be liable to Sublessee for any loss, cost or expense occasioned by, or resulting from, the expiration or termination of the Master Lease. 

5. Condition of Premises: Sublessor shall, at Sublessor’s sole cost and expense, deliver the Sublease Premises broom clean and in
good condition and repair, with the Sixth Floor Sublease Premises and the First Floor Sublease Premises Media Studio carpet professionally cleaned and the First Floor Lab and Lobby Room tile floors cleaned, and with the Sublease Premises building
systems in good operating condition and repair. Sublessor shall also be obligated to remove all personal property from the First Floor Sublease Premises, as well as all ninety (90) cubicle workstations located within the Sublease Premises.
Sublessee shall have ninety (90) days following respective Sublease Commencement dates to report to Sublessor any malfunctions or problems relating to the Sublease Premises building systems (e.g., electrical, plumbing and mechanical system) and
Sublessor will commence and complete the necessary repairs in a timely manner and at Sublessor’s sole cost. To the extent any such malfunctions or problems are within the responsibilities of Master Lessor as set forth in sections 5.2, 6.1
or 7.1 of the Master Lease, at Sublessee’s request, Sublessor shall have the obligation to proceed as set forth in section 30.A or B. Except as set forth herein, Sublessee shall not have any claim or right against Sublessor to repair
problems or malfunctions that are the responsibility of Master Lessor pursuant to sections 5.2, 6.1 or 7.1 of the Master Lease. 
 6.
Rent: Commencing as of the Sublease Commencement date, Sublessee shall pay as rent on the first day of each month when rent is due, without notice, and free from all claims, deductions and set offs of any nature or for any reason against
Sublessor. In the event of any partial calendar month, abated rent or base rent shall be apportioned at a rate equal to 1/30 of the monthly base rent. 

  
 3 

 A. Sixth Floor Sublease Premises Rent: 

 

									
	 Months
	  	Rent per SF	 	  	Monthly Rent*	 
	 01-03
	  	$	0.00	 	  	$	0.00	 
	 04-12
	  	$	2.50	 	  	$	64,675.00	 
	 13-24
	  	$	2.58	 	  	$	66,744.60	 
	 25-36
	  	$	2.66	 	  	$	68,814.20	 
	 37-42
	  	$	2.74	 	  	$	70,883.80	 

 B. First Floor Sublease Premises Rent: 

 

									
	 Months
	  	Rent per SF	 	  	Monthly Rent*	 
	 01-05
	  	$	0.00	 	  	$	0.00	 
	 06-12
	  	$	2.35	 	  	$	10,725.40	 
	 13-24
	  	$	2.58	 	  	$	11,775.12	 
	 25-36
	  	$	2.66	 	  	$	12,140.24	 
	 37-42
	  	$	2.74	 	  	$	12,505.36	 

 C. Additional Sublease Premises Rent: 

1. Sublessor shall be responsible for payment of any Expenses, Taxes, Parcel Assessments and Project Assessments as provided for in
Section 4 of the Master Lease. Sublessee shall not be responsible for payment of any Expenses, Taxes, Parcel Assessments and Project Assessments as provided for in Section 4 of the Master Lease, except for any taxes on Sublessee’s
equipment, furniture, fixtures or other personal property located in or about the Sublease Premises that are levied against Master Lessor or Sublessor, in which case the provisions of Section 4.5 of the Master Lease shall apply to Sublessee in
the same manner that Sublessor may be responsible to Master Lessor for such personal property taxes. 
 2. Sublessee shall be responsible
for any janitorial service specifically charged for service to the First Floor Lab and the Lobby Room. Sublessor shall be responsible for all other janitorial services to the Sublease Premises. 

3. Sublessee shall not be responsible for any utilities provided to the Sublease Premises, all of which shall be the responsibility of
Sublessor, except as follows: Sublessee shall be responsible for the cost of dedicated air and power, as well as the CDA and vacuum equipment, supplied to the First Floor Lab and IDF room located on the Sixth Floor Sublease Premises. Sublessor may,
at Sublessor’s sole discretion and expense, install a sub-meter to gauge the power draw (including the CDA and vacuum equipment) for said areas. If Sublessor elects to install such sub-meter, Sublessee shall pay costs billed by Sublessor that are associated with Sublessee’s power use indicated by the sub-meter. Specific to the CDA and vacuum
equipment, Sublessee shall be responsible for one hundred percent (100%) or, if other subtenants are utilizing said systems, its pro-rata share of quarterly and annual maintenance costs associated with CDA and
vacuum equipment. 

  
 4 

 D. Prepaid Rent: At execution of the Sublease, Sublessee will provide Sublessor with
a check in the amount of the fourth month’s Rent for the Sixth Floor Sublease Premises and the sixth month’s Rent for the First Floor Sublease Premises. Having prepaid the Rent for these periods, Sublessee shall not be required to pay Rent
for these periods during those months. 
 E. Security Deposit: 

1. At execution of the Sublease, Sublessee shall provide Sublessor with a security deposit that is equal to $333,556.64. At Sublessee’s
election, Sublessee may provide the Security Deposit in cash. The Security Deposit shall not be segregated by Sublessor, and Sublessee understands and acknowledges that the Security Deposit is not being held in trust by Sublessor for
Sublessee’s benefit but may be used by Sublessor in Sublessor’s sole discretion subject to the provisions of subsection (3) below, regarding refund of the Security Deposit. 

2. The Security Deposit may not be used by Sublessee to pay the last month’s Rent. 

3. Within thirty (30) days from the later date of (i) end of the Sublease Premises term and Extended Sublease Premises Term or
(ii) the date Sublessee has surrendered the Sublease Premises, Sublessor shall return to Sublessee the Security Deposit, minus (i) any unpaid Rent due and owing; (ii) the cost to repair any damages caused by Sublessee or
Sublessee’s invitees or agents to the Sublease Premises, normal wear and tear excepted; (iii) any costs to clean or restore the Sublease Premises to a broom-clean condition, normal wear and tear
excepted; (iv) the cost to remove, store or dispose of any of Sublessee’s furniture, fixtures or equipment not removed by Sublessee prior to surrendering; and (v) Sublessor’s damages for any breach by Sublessee of any term of
this Sublease, including unpaid rent, beyond any applicable notice and cure periods. 
 F. Holdover Rent: In the event, Sublessee
remains in occupancy of the Sublease Premises upon expiration of the term of the Sublease, or earlier expiration of the Sublease or Sublessee’s rights to possession of the Sublease Premises for default or otherwise, without Sublessor’s
written authorization, the holdover penalty shall be five hundred (500%) percent of the Rent paid for the last month of the Sublease Premises term. Additionally, Sublessee shall indemnify and hold Sublessor harmless against any holdover penalties,
damages, costs, and expenses of any kind incurred by Sublessor under the Master Lease that Sublessor may incur, or be liable to Master Lessor for, as a result of Sublessee’s holdover beyond the Sublease Premises Term or Extended Sublease
Premises Term. If Sublessee demonstrates to Sublessor’s satisfaction that (1) it has signed a lease covering the Subleased Premises with Master Lessor for a term beyond March 31, 2022 and (2) that Sublessee will not cause
Sublessor to suffer any liability or expense by remaining in the Subleased Premises beyond February 28, 2022, then, for the period from February 28, 2022 to March 31, 2022 only (the “Extended Sublease Premises Term”),
the Sublease term shall be extended at the same Sublease Premises Rent and under the same terms and conditions as the previous month. 

  
 5 

 7. Compliance and Master Lease Exclusions: Except to the extent a particular Master
Lease section, subsection, right, or obligation is directly incorporated into this Sublease or otherwise explicitly made applicable to a party by this Sublease, the Master Lease terms and conditions are excluded from applicability to this Sublease.
Sublessee hereby assumes Sublessor’s obligations under the Master Lease applicable to the Sublease Premises, and shall comply with the terms and provisions of the Master Lease, to the extent expressly incorporated herein, and shall neither do
nor permit anything to be done which would constitute a breach under the Master Lease or otherwise cause the Master Lease to be terminated or forfeited by reason of any default of Sublessee under this Sublease. Sublessee shall have all of the
rights, privileges and benefits granted to or conferred upon Sublessor under the Master Lease with respect to the Sublease Premises, provided that Sublessee’s exercise of such rights, privileges and benefits shall not cause Sublessor to be in
default under the Master Lease. 
 8. Rules and Regulations: Sublessee agrees to comply with the “Rules and Regulations” as
set forth in “Exhibit D” to the Master Lease. Sublessor is not responsible to Sublessee for the nonperformance of any of the Rules and Regulations by any other tenants or occupants of the Project. Sublessor reserves the right to
modify and issue reasonable and non-discriminatory additional or supplemental rules and regulations applicable to Sublessee and Sublessor’s other tenants. 

9. Furniture: Sublessor shall not be responsible for furnishing the Sublease Premises, however, Sublessor shall grant Sublessee the
right to utilize the conference room and private office furniture currently located in the Sixth Floor Sublease Premises (“Sublessor’s Furniture”). No warranty or guarantee of condition of said Sublessor’s Furniture is
being provided by Sublessor to Sublessee. There shall be no charge to Sublessee for the use of Sublessor’s Furniture. All Sublessor’s Furniture shall be identified and listed with their conditions and quantities in Schedule D to be
initialed and completed together by an employee of each party within twenty (20) business days after Sublease Premises Commencement or the Early Access Period, whichever comes first. Sublessee shall have access to the Sublease Premises upon
full execution of the Sublease Agreement for the purpose of installing cubicle workstations and Sublessee’s furniture. 
 10.
Parking: Upon Sublease Premises Commencement, Sublessor grants Sublessee the nonexclusive right to use a total of one hundred twenty (120) parking stalls in the Building’s adjacent parking garage for use by Sublessee, its employees,
contractors or business invitees. Sublessor shall not be liable to Sublessee, nor shall it be a breach of the Sublease, if any parking is impaired by Law or by the occurrence of any events not within Sublessor’s control. There shall be no
additional cost, charges, or rental payable in connection with said parking. Sublessor shall not be responsible for any damage or theft to any vehicles or other property arising from Sublessee’s use of the parking spaces. Provided that
Sublessor provides the number of parking spaces granted herein, Sublessor may reserve to itself or its invitees certain parking spaces for Sublessor’s exclusive use. 

11. Signage: After receiving Master Lessor’s approval, within a reasonable period of time after the Sublease Premises
Commencement, Sublessor shall, at Sublessor’s sole cost and expense, (i) create a directory in the Building’s First-Floor lobby to identify all of the subtenants, including Sublessee and
(ii) install an exterior monument (of a size and using building standard materials of its choosing) that identifies all subtenants, including sublease. Otherwise, subject to Sublessor’s consent, Sublessee, at Sublessee’s sole cost,
shall be permitted to install identification signage on Sublessee’s floors. In no event shall Sublessor be liable or responsible for any denial (whatever the reason) by the Master Lessor to consent to any installation of a Lobby directory or an
exterior monument. 

  
 6 

 12. Access and Security: Sublessor shall, at Sublessor’s sole cost and expense,
provide a security service for the Building. A security guard/front desk attendant will staff the First-Floor lobby front desk M-F from 8:00 AM – 5:00 PM (excluding
legal holidays). Up to one hundred twenty (120) access cards shall be issued to Sublessee at Sublessor’s sole cost and expense, in order to allow Sublessee’s employees to access the Building. Sublessee shall be permitted to purchase
from Sublessor an additional sixty (60) access cards at a cost to Sublessee of Twenty and No/100 ($20.00) Dollars per access card. Unless deemed as replacement access cards for access cards lost, no additional access cards beyond one hundred
eighty (180) shall be issued Sublessee by Sublessor. Sublessee, at Sublessee’s sole cost and expense, shall be responsible for installing any security service/system specific to the Sublease Premises. To the full extent permitted by law,
Sublessor shall not be liable to Sublessee or any of Sublessee’s employees or business invitees for death, personal injury or property loss caused by any failure to provide adequate security. 

13. Hours of HVAC Service: During the term of the Sublease, the building’s standard hours of HVAC service shall be 7:00 AM –
7:00 PM Monday through Friday, excluding legal holidays. 
 14. Common First Floor: As shown on Schedule C to the Sublease, on a
non-exclusive basis Sublessor shall make available to Sublessee the following areas of the First Floor: 
  

	 	a)	 That 3,200 RSF All Hands Room; 

 

	 	b)	 That Shipping/Receiving Area; 

 

	 	c)	 The five (5) conference rooms adjacent to the Media Studio; 

 

	 	d)	 Lobby reception area; and 

 

	 	e)	 The restroom and showers. 

Items a and c shall be used on a first come first serve basis, as they will be offered to all subtenants. The item b area shall be used for
the transfer of Sublessee’s deliveries (coming and going) and not for the storage of said deliveries. The only fees that might be charged by Sublessor to Sublessee for the item a, b, and c areas would be a reasonable cleanup cost for
Sublessee’s use of the areas. 
 15. Alterations: Prior to making any Alterations as defined in Section 7.2 of the Master
Lease, Sublessee shall (1) confirm in writing it can comply with Sublessor’s obligations to Master Lessor pursuant to Sections 7.2 and 7.3 of the Master Lease, (2) comply with Sublessor’s reasonable requests associated with
Sublessee Alterations, and (3) obtain Sublessor’s written consent; provided however that Sublessee may install cubicles or furniture if such installation will not affect any structural component or major system of the Building and on the

  
 7 

 
condition that Sublessee remove such additional installations at its sole expense without damage to the Sublease Premises prior to surrender of the Sublease Premises. In no event shall Sublessor
be liable or responsible for any denial (whatever the reason) by the Master Lessor to consent to any Sublessee Alteration. If Sublessee makes any Alterations, the ownership of the Alterations will be governed by Section 8 of the Master Lease in
the same manner as Sublessor’s Alterations. Specific to the remodel of the kitchen/break area, only if as a result of the consent process required by the Master Lease, the Master Lessor agrees that said Alteration can remain with no restoration
obligation or expense to Sublessor, then Sublessor shall not require Sublessee to restore said Alteration back to its original condition at the expiration of the Sublease Term. 

16. Liens: Sublessee shall be responsible for keeping the Project free from any lien arising from any work performed, material
furnished, or obligation incurred by Sublessee to the same extent as Sublessor is responsible therefor pursuant to Section 9 of the Master Lease. 

17. Pets: Sublessee shall not be allowed to bring pets to the Building, Building parking garage or Sublease Premises. 

18. Sublessee’s Compressor: In the event, Sublessee elects to install a compressor for its use in the Sublease Premises, said
compressor shall be installed in a manner to minimize both vibration and noise to the satisfaction of Sublessor. Such installation of Sublessee’s Compressor shall be subject to all obligations and consents as required by section 15. 

19. Waiver, Indemnification and Insurance: 

A. Waiver and Indemnification: With respect to this Sublease, Sublessee shall waive all claims against the “Tenant
Parties” and the “Landlord Parties” as defined in Section 10.1 of the Master Lease to the same extent and in the same manner as Sublessor waives claims against the Landlord Parties pursuant to Section 10.1 of the
Master Lease. With respect to this Sublease, Sublessee shall indemnify, defend, protect and hold the Tenant Parties and the Landlord Parties harmless from any obligation, loss, claim, action, liability, penalty, damage, cost or expense (including
reasonable attorneys’ fees and consultants’ fees and expenses) to the same extent and in the same manner as Sublessor does hold the Landlord Parties harmless pursuant to Section 10.1 of the Master Lease. With respect to this Sublease,
Sublessor shall indemnify, defend, protect and hold Sublessee and its (direct or indirect) owners, or any of their respective beneficiaries, trustees, officers, directors, employees and agents (the “Sublessee Parties”) harmless from
any obligation, loss, claim, action, liability, penalty, damage, cost or expense (including reasonable attorneys’ fees and consultants’ fees and expenses) to the same extent and in the same manner as the Master Lessor does hold the Tenant
Parties harmless pursuant to Section 10.1 of the Master Lease. 
 B. Sublessee’s Insurance: Sublessee shall maintain the
following coverages in the following amounts: 
 1. Commercial General Liability Insurance in the amount of $3,000,000 and in the same form
as Sublessor is required to provide pursuant to Section 10.2.1 of the Master Lease. 

  
 8 

 2. Property Insurance in the amount of $1,000,000 and in the same form as Sublessor is
required to provide pursuant to Section 10.2.2 of the Master Lease. 
 3. Workers’ Compensation Insurance in such amounts as
required by applicable law and in the same form as Sublessor is required to provide pursuant to Section 10.2.3 of the Master Lease. 

C. Form of Insurance: Sublessee shall provide forms of insurance in the same form as Sublessor is required to provide pursuant to
Section 10.3 of the Master Lease and shall name the Master Lessor and Sublessor as Additional Insured Parties in the same manner and form as Sublessor is required to provide pursuant to Section 10.3 of the Master Lease. 

D. Subrogation: Sublessee shall cause any of Sublessee’s insurers to waive rights of subrogation in the same manner and form as
Sublessor and Master Lessor are required to cause waivers of Subrogation as set forth in Section 10.4 of the Master Lease. 
 20.
Casualty Damage: Sublessor’s obligations to Sublessee for any damage to the Premises shall be equal to and subject to the same notice requirements, restrictions and limitations on liability and requirements for assignment of insurance
proceeds as set forth in Section 11 of the Master Lease, and in no event shall Sublessor be liable to Sublessee in any manner other than Master Lessor may be responsible to Sublessor pursuant to Section 11 of the Master Lease. 

21. Nonwaiver: The nonwaiver provisions of Section 12 of the Master Lease shall be equally applicable to Sublessor and Sublessee
as they are applicable to Master Lessor and Sublessor. 
 22. Condemnation: Sublessor’s obligations to Sublessee for any Taking
as defined in Section 13 of the Master Lease shall be equal to Master Lessor’s obligations and limitations on liability as set forth in Section 13 of the Master Lease. 

23. Assignment and Subletting: Assignment and subletting of the Sublease shall be subject to the provisions of Sections 14.1, 14.2
and 14.6 of the Master Lease to the same extent, and with the same requirements of Sections 14.1, 14.2 and 14.6 of the Master Lease. For any assignment of the Sublease or subletting of the Sublease, Sublessee shall follow the same procedures as
Sublessor must follow in the Master Lease, as if Sublessor were the Master Lessor, to obtain Sublessor’s consent to any assignment or subletting of the Sublease, and Sublessor may consent or refuse to consent to assignment or subletting for any
reason Master Lessor may consent or refuse to consent to assignment or subletting under the Master Lease. In addition, Master Lessor must consent to any request by Sublessee for assignment or subletting of the Sublease in the same manner as Master
Lessor may consent to assignment or subletting if it were Sublessor were seeking Master Lessor’s consent for assignment or subletting pursuant to Section 14 of the Master Lease. The effect of consent will as to Sublessor’s consent, be
the same as the effect of the Master Lessor’s consent as set forth in Section 14.3 of the Master Lease with respect to any assignment or sublease by Sublessor provided the Credit Requirements as defined in Section 14.5 of the Master
Lease are met by the proposed assignee of the Sublease. 

  
 9 

 A. Transfer Premium: Sublessor shall have the same right of Master Lessor to the
Transfer Premium as set forth in Section 14.3 of the Master Lease with respect to any assignment or sublease by Sublessor. 
 B.
Right to Recapture: Sublessor shall have the same right of Master Lessor to recapture as set forth in Section 14.4 of the Master Lease with respect to any assignment or sublease by Sublessor. 

C. Effect of Default: If Sublessee is in default, then Sublessee grants Sublessor the same irrevocable appointment as attorney-in-fact to direct any transferee of Sublessee’s sublease to make payments to Sublessor until such default is cured as Master Lessor would have against Sublessor
pursuant to Section 14.7 of the Master Lease. 
 D. Permitted Transfers: Sublessee shall have the same rights and obligations
for an assignment of the Sublease to constitute a Permitted Transfer as Sublessor has with respect to the Master Lease, as set forth in Section 14.8 of the Master Lease. 

24. Sublessor Assignment and Transfer: Sublessor may assign its interest under the Sublease to a third party upon receiving Master
Lessor’s consent pursuant to the terms of the Master Lease. Sublessee shall have no right to object to Sublessor’s request to Master Lessor to consent to an assignment of the Master Lease. Additionally, Sublessor may, with notice to
Sublessee, assign or transfer this Sublease to any subsidiary, affiliate, parent company or other entity that controls, is controlled by or is under common control with Sublessor, or to assign this Sublease as a result of a consolidation, merger,
stock transfer or purchase of substantially all of Sublessor’s assets. 
 25. Surrender: Upon the expiration or earlier
termination of this Sublease, Sublessee shall surrender the Sublease Premises in a clean and neat condition, normal wear and tear excepted. Prior to the expiration or earlier termination of this Sublease, Sublessee shall remove from the Sublease
Premises (i) all trade fixtures, furnishings and other personal property of Sublessee, and (ii) all Sublessee Alterations (unless Sublessor confirmed in writing removal was not required) including computer and phone cabling and wiring
installed by or on behalf of Sublessee, and Sublessee shall repair all damage caused by such removal. 
 26. Subordination and Estoppel
Certificates: In any circumstance where Sublessor is obligated by the Master Lease to subordinate its lease to a Security Instrument for the benefit of a Security Holder as defined in Section 17 of the Master Lease, and the Master Lessor
requires Sublessee to subordinate its Sublease in addition to requiring Sublessor to subordinate its Master Lease, Sublessee shall be obligated to provide Master Lessor a subordination to the same extent Sublessor is required to do so and to attorn
to the Security Holder in the same manner Sublessor is required to attorn. Sublessee waives any right to terminate this Sublease in the event of a foreclosure to the same extent Sublessor waives its rights in the Master Lease. In any circumstance
where Sublessor is obligated by the Master Lease to provide an estoppel certificate to Master Lessor, Sublessee shall provide an estoppel certificate to Master Lessor, if requested. Sublessor shall have the same right to an estoppel certificate from
Sublessor as Sublessor grants to Master Lessor. Within seven (7) days after Sublessor’s request, Sublessor shall execute and deliver to Sublessor (i) a subordination and non-disturbance
agreement in a form required of Sublessor by Master Lessor or otherwise in a commercially reasonable form; and/or (ii) an estoppel certificate in a form required of Sublessor by Master Lessor or otherwise in a commercially reasonable form and
such certificate shall be in favor of such parties as Master Lessor or Sublessor may reasonably designate. 

  
 10 

 27. Entry by Sublessor: As to Sublessee, Sublessor shall have the same right of
entry, under the same conditions, and subject to the same obligations of notice from Master Lessor to Sublessor, as Master Lessor has pursuant to Section 18 of the Master Lease. 

28. Defaults; Remedies; Sublessee Default 

A. Events of Default: As to Sublessor, Sublessee shall be deemed in “Default” to Sublessor for the same events and under the
same conditions that Sublessor would be considered to be in “Default” to Master Lessor pursuant to Section 19.1 of the Master Lease. 

B. Remedies Upon Default: As to Sublessee, Sublessor shall have the same remedies upon Default as Master Lessor would have against
Sublessor in the event of Sublessor’s Default, as specified in Sections 19.2 and 19.3 of the Master Lease. In addition, if Sublessee shall default in the observance of any provision or covenant on Sublessee’s part to be performed,
Sublessor, in addition to all other remedies available to it, may elect, but shall not be required, to perform such obligation of Sublessee, and Sublessee shall reimburse Sublessor for the reasonable direct costs incurred in connection therewith,
together with interest thereon at a rate of ten percent (10%) per annum, upon demand from Sublessor. 
 C. Efforts to Relet: Unless
Sublessor provides written notice signed by an actually authorized agent of Sublessor to the contrary, no re-entry, repossession, repair, maintenance, change, alteration, addition, reletting, appointment of a
receiver or other action or omission by Sublessor shall (a) be construed as an election by Sublessor to terminate the Sublease or Sublessee’s right to possession, or to accept a surrender of the Sublease Premises, or (b) operate to
release Sublessee from any of its obligations under the Sublease. Sublessee waives, for Sublessee and for all those claiming by, through or under Sublessee, California Civil Code § 3275 and California Code of Civil Procedure
§§ 1174(c) and 1179 and any other existing or future rights to redeem or reinstate, by order or judgment of any court or by any legal process or writ, the Sublease or Sublessee’s right of occupancy of the Premises after any
termination hereof. 
 29. Defaults; Remedies; Sublessor Default 

A. Sublessor shall not be in default hereunder unless it fails to begin within thirty (30) days after notice from Sublessee, or fails to
pursue with reasonable diligence thereafter, the cure of any breach by Sublessor of its obligations hereunder, if the default by Sublessor does not adversely affect the conduct of Sublessee’s business in the Sublease Premises. 

B. If Sublessor’s alleged default adversely affects the conduct of Sublessee’s business in the Sublease Premises, then Sublessee may
thereafter provide Sublessor with a written notice stating that if Sublessor does not perform such obligation then Sublessee will exercise its right to do so, and if Sublessor does not begin performing such obligation within ten

  
 11 

 
(10) business, days after such notice and thereafter diligently pursue such performance until completion, Sublessee may perform such obligation. If Sublessee performs such obligation then
Sublessor shall reimburse Sublessse’s actual expenses, without overhead or markup, upon ten (10) days written notice from Sublessor, which notice shall provide Sublessor with documentation establishing Sublessee’s actual expenses. In
no event shall Sublessee be entitled to terminate this Sublease for Sublessor’s breach of any of Sublessor’s obligations under the Sublease. 

30. Exculpation: 
 A.
Notwithstanding any contrary provision hereof, no Tenant Parties as defined in Section 10.1 of the Master Lease shall have any personal liability for any judgment or deficiency, and Sublessee waives and releases such personal liability on
behalf of itself and all parties claiming by, through or under Sublessee. 
 B. Notwithstanding any law to the contrary, or any provision in
the Sublease, neither Party shall be liable to the other for any form of special or consequential damages, including but not limited to loss of use, lost business, lost business opportunity, lost profits or lost goodwill. Both Parties waive any
provision of any statutory or common law that limits the rights of the Parties to waive claims for such special or consequential damages. 

31. Communication Lines and Computer Lines: Sublessee shall install all Lines as defined in section 23 of the Master Lease in the
same form and manner as required of Sublessor under section 23 of the Master Lease. 
 32. Representations and Covenants:
Sublessee makes the same representations and covenants to Sublessor as Sublessor made to Master Lessor pursuant to Section 25.3 of the Master Lease. Sublessor represents and warrants to Sublessee that (a) the copy of the Master Lease
attached hereto is a full, complete and correct copy of the Master Lease, (b) the Master Lease is in full force and effect, and Sublessor is not in default under the Master Lease, (c) this Sublease has been duly authorized and delivered by
Sublessor, and (d) no consent, other than the consent of Master Lessor, is required for Sublessor’s execution, delivery and performance of this Sublease. 

33. Hazardous Materials and Mold: Sublessee agrees to and is obligated to Sublessor to comply with all provisions of Section 28 of
the Master Lease with regard to Hazardous Materials and Mold to the same extent and in the same manner that Sublessor is obligated to Master Lessor. Sublessee shall comply with the law, and shall indemnify, defend and hold Landlord Parties and
Tenant Parties harmless to the same extent and in the same manner as Sublessor does hold Landlord Parties harmless pursuant to Section 28.2.3 of the Master Lease. At Sublessor’s request, Sublessee shall complete a Hazardous Materials
Disclosure Certificate in the same form as “Exhibit H” to the Master Lease. 
 34. Each Party waives California Civil Code
§ § 1932(2) and 1933(4). Sublessee waives (a) any rights under (i) California Civil Code §§ 1932(1), 1941, 1942; 1950.7 or any similar Law, or (b) California Code of Civil Procedure
§ 1265.130: and (c) any right to terminate this Lease under California Civil Code § 1995.310. 

  
 12 

 35. Force Majeure: Sublessor and Sublessee shall have the same rights, duties and
obligations pursuant Section 25.2 of the Master Lease as Sublessor and Master Lessor have, and the same exceptions to Section 25.2 that are applicable to Sublessor under the Master Lease shall also be applicable to Sublessee. 

36. Certain Obligations of Sublessor. 

A. If Master Lessor shall fail or refuse to comply with the terms of the Master Lease, including without limitation Sections 5.2, 6.1,
7.1, 10.5 and 11 thereof, Sublessee shall have the right, upon notice to Sublessor, to exercise, in its own name, and that of Sublessor, all the rights available to Sublessor under the Master Lease to enforce performance on the part of Master
Lessor, including without limitation Sublessor’s rights under Section 19.5.2 of the Master Lease. 
 B. If, notwithstanding the
provisions of paragraph A. above, Sublessee shall reasonably require the participation of Sublessor in enforcing the obligations of Master Lessor under the Master Lease, then Sublessor, upon Sublessee’s written request, shall endeavor
diligently to enforce such obligations (including the commencement of appropriate legal proceedings) to attempt to cause Master Lessor to provide Sublessee with the service or other benefit in question. Sublessee shall reimburse all reasonable costs
and expenses Sublessor shall incur in enforcing or attempting to enforce the Master Lease against Master Lessor. 
 C. So long as Sublessee
complies with its obligations under this Sublease: (a) Sublessor shall preserve the Master Lease and keep the Master Lease in full force and effect throughout the Sublease term; (b) Sublessor shall not agree to any amendment of the Master
Lease which would adversely affect Sublessee’s rights or obligations under this Sublease; (c) Sublessor shall not, without Sublessee’s prior written consent, enter into any agreement to voluntarily terminate the Master Lease or
exercise any right to terminate the Master Lease, other than on account of casualty or condemnation; and (d) Sublessor shall perform all its obligations under the Master Lease not assumed by Sublessee hereunder during the Sublease term (unless
such obligations have been delegated to other subtenants and Master Lessor has agreed to such delegation), including without limitation the prompt payment to Master Lessor of all sums paid by Sublessee to Sublessor hereunder. 

D. Notwithstanding anything to the contrary in the Master Lease, Sublessor shall not have the right to encumber its leasehold estate during
the Sublease Term. 
 E. So long as Sublessee pays the rent and performs its obligations under this Sublease, Sublessor shall take no
action, or fail to take any action, which would interfere with the right of Sublesse to peaceably have, hold and enjoy the Sublease Premises during the Sublease term. 

37. Disputes: 
 A.
Choice of Law: This Sublease shall be construed and enforced in accordance with the laws of the State of California. 

  
 13 

 B. Mediation and Arbitration. 

Any dispute arising under, concerning, relating to or affecting this Sublease shall be resolved by binding arbitration according to the
American Arbitration Association’s (“AAA”) Commercial Arbitration and Mediation Procedures or, in the event the AAA is no longer in operation, any reasonably equivalent organization or process. 

Prior to arbitration, the parties shall mediate the dispute using an AAA mediator or equivalent. Prior to initiating formal mediation any
Party making a claim or counterclaim must provide written notice of any complaint, claim or cause of action to the other Party, in order to provide the Parties an opportunity to resolve the complaint, claim or cause of action through informal
mediation. The Parties shall dedicate appropriate efforts to achieve a timely negotiated resolution. If informal mediation is not successful, demand for formal mediation shall be filed in writing with the other party and with the AAA. A demand for
mediation must be made within a reasonable time after the controversy has arisen. In no event may the demand for mediation be made after the date when institution of legal or equitable proceedings based on such controversy would be barred by the
applicable statute of limitations. The Parties shall share the mediator’s fee and any filing fees equally. 
 In the event that
informal mediation and formal mediation before the AAA is not successful, the Parties agree to submit the matter to binding arbitration. Either or any party may file a demand for arbitration with the AAA. Arbitration will be before a single
arbitrator, not a panel. Venue for arbitration shall be in the County in which the Project is located. The decision of the arbitrator shall be final and binding upon the Parties. The arbitrator may award legal or equitable relief, but in no event
will the arbitrator have the authority to award punitive damages or any damages not provided for, or specifically excluded by, the Sublease. Judgment to enforce the decision of the arbitrator, whether for legal or equitable relief, may be entered in
any court having jurisdiction thereof, and the parties hereto expressly and irrevocably consent to the jurisdiction of the courts of Santa Clara, California for such purpose. In the event a dispute is submitted to arbitration, the prevailing party
shall be entitled to the payment of their reasonable attorneys’ fees and costs, arbitration fees, arbitrator’s fees, and expert witness fees, as determined by the arbitrator. The parties shall keep all disputes and arbitration proceedings
strictly confidential, except for disclosures of information required by applicable law or regulation. Notwithstanding the foregoing, any Party may forego the Mediation and Arbitration procedure outlined herein and may seek relief in the state and
federal courts in and for the County of Santa Clara, California to prevent or enjoin any activity that threatens imminent risk of damage to real or personal property, or of personal injury or death, or to legally compel any action necessary to
prevent imminent risk of damage to real or personal property, or of personal injury or death. 
 The agreement to mediate and arbitrate in
the Sublease notwithstanding, if Sublessor and Master Lessor become engaged in any legal dispute, Sublessee agrees and consents to being named as a Party in any legal proceeding between Sublessor and Master Lessor if Sublessor reasonably determines
that Sublessee is or may be responsible for any damages or claims, or subject to any remedies, that Master Lessor may assert against Sublessor and Sublessee consents to venue and jurisdiction in any such proceeding, including but not limited to the
“Judicial Reference” procedure identified in “Exhibit E” to the Master Lease. Sublessee will be legally bound by any rulings or judgments in any such proceeding among Sublessor, Master Lessor and Sublessee. Sublessor shall
defend, indemnify and hold Sublessee harmless from any and all costs and expenses incurred by Sublessee in any such proceeding if Sublessee is found not be responsible for any damages or claims that Master Lessor may assert against Sublessor. 

  
 14 

 38. Effect of Agreement. This Sublease and the exhibits and schedules hereto embody
the entire agreement and understanding of the parties and supersede any and all prior agreements, arrangements and understandings relating to matters provided for herein. No amendment, waiver of compliance with any provision or condition hereof, or
consent pursuant to this Sublease shall be effective unless evidenced by an instrument in writing signed by an agent of the Parties with actual authority. The captions are for convenience only and shall not control or affect the meaning or
construction of the provisions of this Sublease. 
 39. Notices. Any notice, demand or request required or permitted to be given
under the provisions of this Sublease shall be in writing and shall be deemed to have been duly delivered on the date of personal delivery or on the date of mailing if mailed by registered or certified mail, postage prepaid and return receipt
requested to the following addresses, or to such other address as any party may request by notifying in writing all of the other parties to this Sublease Agreement. 

To Sublessee: 
 Prior to
Sublease Premises Commencement: 
 General Counsel 

Eargo, Inc. 
 295 N. Bernardo
Avenue, Suite 100 
 Mountain View, CA 94043-5205 

After Sublease Premises Commencement: 

General Counsel 
 Eargo, Inc. 

1600 Technology Drive, Sixth Floor 

San Jose, CA 95110 
 To
Sublessor 
 Andrew Morris 

Site Services Department 

Microchip Technology Incorporated 

2355 West Chandler Blvd. 

Chandler, AZ 85224-6199 

40. REPRESENTATION BY COUNSEL. EACH OF THE PARTIES HAS BEEN REPRESENTED BY OR HAS HAD THE OPPORTUNITY TO BE REPRESENTED BY LEGAL
COUNSEL OF HIS OWN CHOICE. THIS SUBLEASE AGREEMENT HAS BEEN NEGOTIATED AMONG THE PARTIES AND IF THERE IS ANY AMBIGUITY, NO PRESUMPTION CONSTRUING THE AGREEMENT AGAINST A PARTY SHALL BE IMPOSED BECAUSE THIS SUBLEASE AGREEMENT WAS PREPARED BY COUNSEL
FOR ONE PARTY OR COUNSEL FOR ANOTHER PARTY. 

  
 15 

 41. Pronouns. Whenever the pronoun “he” or “his” is used herein,
it is understood that the usage is the common gender and refers to masculine, feminine, and neuter genders and also singular and plural. 

42. Severability. If any one or more of the provisions of this Sublease Agreement shall be held or found to be invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

43. Binding upon Successors. This Sublease Agreement shall be binding upon the parties, their heirs, legal representatives, successors,
and assigns. 
 44. Counterparts. This Sublease may be executed in one or more counterparts, each of which will be deemed to be an
original but all of which shall constitute one document. 
 45. Brokers: The parties acknowledge and consent to the fact that that
Steve Gibson Cynthia Rotwein and Howard Berry with Colliers International are the real estate brokers representing the Sublessor (“Sublessor’s Broker”) and Romy Zeid and Paul McManus with Colliers International is the real
estate broker representing the Sublessee (“Sublessee’s Broker”) in this proposed transaction. Both Sublessee and Sublessor acknowledge and agree to Colliers International acting in a Dual Agency capacity and Sublessor shall be
responsible for the payment of all brokerage commissions. Upon execution of the Sublease and after receipt of Master Lessor’s consent, Sublessor shall pay the above referenced brokers a fee as stipulated in the listing agreement between
Sublessor and Colliers International. Both Parties represent that they have no obligation to any other brokers, and each party shall defend, indemnify and hold harmless the other Party from any claims by any other broker to any fee, commission or
other compensation. 
 IN WITNESS WHEREOF, the parties have executed and delivered this Sublease effective as of the date first stated
above. 
  

			
	“SUBLESSEE”
	
	Eargo, Inc.

 
			
		
	By:	 	/s/ William H. Brownie

 
			
	Name:	 	William H. Brownie
	Title: 	 	 CCOO & CFO

  

			
	“SUBLESSOR”
	
	Microchip Technology Incorporated

 
			
		
	By:	 	/s/ Andrew Morris

 
			
	Name:	 	Andrew Morris
	Title: 	 	Sr. Mgr. Risk Loss

  
 16 

 SCHEDULE ”E” 

OFFICE LEASE 
 This
Office Lease (this “Lease”), dated as of the date set forth in Section 11, is made by and between CA-SKYPORT III LIMITED PARTNERSHIP, a Delaware limited
partnership (“Landlord”), and ATMEL CORPORATION, a Delaware corporation (“Tenant”). The following exhibits are incorporated herein and made a part hereof:
Exhibit A (Outline of Premises); Exhibit B (Work Letter);
Exhibit B-l (Close-Out Requirements); Exhibit C (Form of
Confirmation Letter); Exhibit D (Rules and Regulations); Exhibit E (Judicial Reference); Exhibit F
(Additional Provisions); Exhibit F-l (Exterior Equipment); Exhibit F-2 (Building Top Signage); Exhibit F-3 (Monument Signage);
Exhibit F-4 (Tenant’s Logo); Exhibit G (Certain Tenant Systems);
Exhibit H (Hazardous Materials Disclosure Certificate); and Exhibit I (Copy of Second Amendment to Parcel II Declaration). 

 

	1	 BASIC LEASE INFORMATION 

 

									
		 	1.1	 	Date:	  	8/30, 2011
				
		 	1.2	 	Premises.	  	
					
		 		 	1.2.1	  	“Building” :	  	1600 Technology Drive, San Jose, California 95110, commonly known as Skyport III.
					
		 		 	1.2.2	  	“Premises” :	  	Subject to Section 2.1.1, 198,033 rentable square feet of space consisting of the entirety of the Building, as set forth in Exhibit A.
					
		 		 	1.2.3	  	“Property” :	  	The Building and the parcel of land upon which it is located, as set forth on Exhibit A, and as more particularly described as the “Brocade Parcel” in the Parcel II Declaration (defined in
Section 2.2.1.3)
					
		 		 	1.2.4	  	“Project”:	  	The project commonly known as “Skyport Plaza,” which includes the Property.
				
		 	1.3	 	Term	  	
					
		 		 	1.3.1	  	Term:	  	The term of this Lease (the “Term”) shall commence on the Commencement Date and end on the Expiration Date (or any earlier date on which this Lease is terminated as provided herein or any later date to which the
Term is extended pursuant to Section 2 of Exhibit F).EX-10.12

 Exhibit 10.12 

OFFICE & PARKING LEASE 

700-706, 710 & 714 

Division Street 

Nashville, TN 37203 
 By
and between 
 SEV 8th and Division, LLC 

“Landlord” 
 And

 Eargo, Inc. 

“Tenant” 
 This Lease consists of
three parts: 
  

					
		 	Part I	  	Major Lease Terms
		 	Part II	  	Standard Lease Provisions
		 	Part III	  	Exhibits
			
		 		  	EXHIBIT A – Site Plan of the Property
		 		  	EXHIBIT B – Plan of the Premises
		 		  	EXHIBIT C – Tenant Permitted & Prohibited Parking on the Property
		 		  	 EXHIBIT D – Site Plan of the Additional Property for Parking

 MAJOR LEASE TERMS 

The terms listed below shall have the following meanings throughout this Lease. 

 

			
	DATE OF LEASE	  	The Effective Date of the Lease shall be the date of execution by the last party to sign this Lease.
		
	LANDLORD	  	SEV 8th and Division, a Tennessee Limited Liability Company 
C/O Southeast Venture 
4011 Armory Oaks Drive 
Nashville, TN 37204
		
	TENANT	  	Eargo, Inc., a Delaware Corporation 
800 6th Avenue South 
Suite 110 
Nashville, TN 37203
		
	MANAGER	  	Southeast Venture LLC 
4011 Armory Oaks Drive 
Nashville, TN 37204
		
	ADDRESS FOR RENTAL
PAYMENTS	  	Southeast Venture LLC 
4011 Armory Oaks Drive 
Nashville, TN 37204
		
	PROPERTY	  	The Property is the land outlined on Exhibit A Site Plan and all improvements thereon.
		
	BUILDING	  	The Building is the structure consisting of 19,897 square feet on the Property as shown on Exhibit A Site Plan.
		
	PREMISES	  	The Premises is the portion of the Building consisting of 14,965 rentable square feet as shown on Exhibit C, with an address of 716 Division Street, Nashville, TN 37204 (the “Premises”), as shown on Exhibit B.
		
	ADDITIONAL PROPERTY FOR PARKING	  	The Additional Property for Parking is the land and improvements outlined on Exhibit D.
		
	TENANT’S 
PERCENTAGE SHARE 
OF PROPERTY AND 
BUILDING EXPENSES	  	75.21%
		
	PERMITTED USES	  	Office use and no other purpose

			
		
	LEASE 
COMMENCEMENT 
DATE	  	March 15, 2019
		
	RENT 
COMMENCEMENT 
DATE	  	April 1, 2019
		
	EXPIRATION DATE	  	March 31, 2021
		
	TERM	  	The period of time beginning on the Lease Commencement Date and ending on the Expiration Date as extended by the options granted to Tenant in this Lease.
		
	EXTENSION OF THE 
TERM	  	 Tenant shall have two options to extend this Lease. The Options cannot be used in conjunction with each other. The Option terms and
conditions are as follows:
  
 Option 1. Tenant shall have a onetime right to
extend this Lease from the current Expiration Date to March 31, 2022 (the “One Year Extension”). Tenant’s right to exercise the One Year Extension is conditioned on the following, (i) Tenant shall not be in default of the
Lease at the time Tenant exercises the One Year Extension, (ii) Tenant shall give written notice to Landlord exercising the One Year Extension on or before 5:00 PM, September 30, 2020.

 
 Tenant’s Base Rent for the One Year Extension shall be Thirty-One Thousand Four Hundred and Forty-Five and 21/100 Dollars per month ($31,445.21). All other terms and conditions of the Lease shall remain in full force and effect.
Notwithstanding the above, Landlord shall have the right to terminate Tenant’s right to exercise the One Year Extension by giving Tenant written notice no later than 5:00 PM June 30, 2020.

 
 Option 2. Tenant shall have a onetime right to extend this Lease from the current
Expiration Date to May 31, 2021 (the “Two Month Extension”). Tenant’s right to the Two Month Extension is conditioned on the following, (i) Tenant shall not be in default of the Lease at the time Tenant exercises the Two
Month Extension, (ii) Tenant shall give written notice to Landlord exercising the Two Month Extension on or before 5:00 PM, December 31, 2020.
  

Tenant’s Monthly Base Rent for the Two Month Extension shall be Thirty Thousand Six Hundred Seventy-Eight and
25/100 Dollars ($30,678.25) per month. All other terms and conditions of the Lease shall remain in full force and effect.

  
 2 

			
		
	BASE RENT	  	Beginning on the Rent Commencement Date Tenant shall pay Base Rent without notice, demand or set off in the amount of Twenty-Nine Thousand Nine Hundred Thirty and No/100 Dollars ($29,930.00)
per month. The Base Rent shall increase to Thirty Thousand Six Hundred Seventy-Eight and 25/100 Dollars ($30,678.25) on April 1, 2020.
		
	ADDITIONAL RENT	  	Beginning on the Rent Commencement Date, Tenant shall pay its Percentage Share of Expenses of the Real Estate Taxes, Insurance and Operating Expenses for the Property and the Building and Tenant shall also pay Landlord for One
Hundred percent of the Real Estate Taxes, Insurance and Operating Expenses for the Additional Property for Parking. All of the above expenses shall be defined as “Additional Rent” in this Lease. Landlord’s good faith estimate of the
Additional Rent is Thirteen Thousand Six Hundred Twelve and 23/100 Dollars ($13,412.363) per month.
		
	UTILITIES	  	Tenant shall place all utilities, including electricity, gas and water in Tenant’s name and pay these costs directly to the appropriate utility company.

  
 3 

 STANDARD LEASE PROVISIONS 

ARTICLE I: PREMISES 
  

	1.1	 PREMISES 

  

	 	(a)	 Demise of Premises. This Lease (the “Lease”) is made and entered into by and between Landlord
and Tenant and shall become effective as of the Effective Date. In consideration of the mutual covenants made herein, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises, and The Additional Property for Parking on
all of the terms and conditions set forth in this Lease. 

  

	 	(b)	 Access to Premises and Additional Property for Parking. Landlord shall have reasonable access to the
Premises and the Additional Property for Parking, at any time during the Term, to inspect Tenant’s performance hereunder and to perform any acts required of or permitted to Landlord herein, including, without limitation, (i) the right to
make any repairs or replacements Landlord deems necessary, (ii) the right to show the Premises and the Additional Property for Parking to prospective tenants, purchasers and mortgagees. Landlord shall at all times have a key to the Premises,
and Tenant shall not change any existing lock(s), nor install any additional lock(s) without Landlord’s prior consent. Except in the case of any emergency and as otherwise provided in this Lease, any entry into the Premises by Landlord shall be
on reasonable advance notice of not less than twenty-four (24) hours, except in an emergency, in which event no notice shall be required. Notices may be given orally to Tenant’s representative at the
Premises. Landlord will use commercially reasonable efforts to not interfere with Tenant’s business at the Premises. 

  

	1.2	 COMMON AREAS 

Tenant shall have the right to use, in common with other tenants, Landlord and others to whom rights are now or hereinafter granted by
Landlord, the Property and the Building’s common walkways, driveways and parking areas (“Common Areas”). Tenant’s use of the Common Areas including the parking shall be on an unreserved,
non-exclusive basis and solely for Tenant’s employees and visitors. Tenant’s right to use the parking in the Common Areas shall be limited as follows: Tenant shall have the right at all times to use
the parking areas labeled Area A, B, and D on the attached Exhibit B. Tenant shall have the right to use the parking area labeled Area C at all times, with the exception that in no event shall Tenant, its employees and visitors use the parking area
labeled Area C from 7:00 PM to 10:00 PM. Further, as a part of this Lease, Tenant shall have the right to use the parking on the Additional Property for Parking at all times. Any improvements desired by Tenant or required by any governmental or
municipal entity on the Additional Property for Parking shall be at Tenant’s sole cost and expense. Landlord shall not be liable to Tenant, and this Lease shall not be affected, if any parking rights of Tenant hereunder are impaired by any law,
ordinance or other governmental regulation imposed after the Effective Date, provided, however, that if any such parking impairment materially affects Tenant’s ability to reasonably operate its business, Base Rent and Additional Rent shall be

  
 4 

 
equitably abated to account for such impairment. If Landlord grants to any other tenant the exclusive right to use any particular parking spaces, neither Tenant nor its visitors shall use such
spaces; provided, however, that if any such exclusive grant to a third party results in a material reduction in the number of parking spaces available to Tenant, Base Rent and Additional Rent shall be equitably abated to account for such reduction.

 Use of the Common Areas shall be only upon the terms set forth at any time by Landlord. Landlord may at any time and in any manner make
any changes, additions, improvements, repairs or replacements to the Common Areas that it considers desirable, provided that Landlord shall give Tenant prior written notice of such repairs and shall use reasonable efforts to minimize interference
with Tenant’s normal activities. Such actions of Landlord shall not constitute constructive eviction or give rise to any rent abatement or liability of Landlord to Tenant. 

 

	1.3	 RESTROOM USAGE AND FEE 

Tenant shall the right to use the restroom (the “Restroom”) and access thereto as shown on Exhibit B, subject to reasonable closures
for routine maintenance, repair and upkeep and that the bill for the the Restroom water usage shall not be in the name of the Tenant. Tenant shall pay to Landlord on the first of each calendar month as additional rent $100.00 as the Restroom Usage
Fee. 
 ARTICLE II: TERM 
  

	2.1	 COMMENCEMENT 

The Term shall begin on the Lease Commencement Date and shall end on the Expiration Date, or as extended by options provided in this Lease. If
for any reason Landlord is unable to deliver possession of the Premises to Tenant on the anticipated Lease Commencement Date (March 15, 2019), this Lease shall not be terminated, but the Rent Commencement Date shall be proportionately delayed until
the date two (2) weeks after the actual Lease Commencement Date. Notwithstanding the foregoing, if for any reason Landlord is not able to deliver the Premises to Tenant on or before May 1, 2019, Tenant may terminate this Lease by written
notice to Landlord whereupon all sums previously paid by Tenant to Landlord shall be reimbursed by Landlord to Tenant. 
 ARTICLE III:
RENT 
  

	3.1	 BASE RENT 

  

	 	(a)	 Payment of Base Rent. Commencing on the Rent Commencement Date and throughout the Term, Tenant shall pay
the Base and Additional Rent each month in advance no later than the fifth day of each calendar month during the Term. All payments shall be made to Manager at Manager’s Address or to such other party or to such other place as Landlord may
designate in writing, without prior demand, abatement, deduction or offset. All charges to be paid by Tenant hereunder shall be considered rent for the purposes of this Lease, and the words “rent” or “Rent” as used in this Lease
shall mean both Base Rent and Additional Rent unless the context specifically or clearly indicates that only one or the other is referenced. 

  
 5 

	 	(b)	 Late Payments. Tenant acknowledges that the late payment by Tenant to Landlord of any rent or other sums
due under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impracticable to ascertain. Therefore, if any rent or other sum due from Tenant is not received
within five (5) days of its due date, Tenant shall pay to Landlord no later than ten (10) calendar days after the due date an additional sum equal to 5% of such overdue payment. In addition to such late charge, all such delinquent rent or
other sums due to Landlord, including the late charge, shall bear interest beginning on the date such payment was due at the greater of (a) 10% per annum and (b) 4% over the then applicable prime rate of Bank of America N.A. (the “Default
Rate”). The notice and cure period provided in Paragraph 8.1(a) does not apply to the foregoing late charges and interest. If payments of any kind are returned for insufficient funds Tenant shall pay to Landlord an additional handling charge of
$50.00. The foregoing charges and interest shall be in additional to all of Landlord’s other rights and remedies. 

  

	3.2	 ADDITIONAL RENT FOR OPERATING EXPENSES, TAXES, AND INSURANCE 

 

	 	(a)	 Additional Rent. In addition to the monthly payment of Base Rent, commencing on the Rent Commencement
Date, Tenant shall pay to Landlord Additional Rent on a monthly basis as follows. 

  

	 	(b)	 Estimate of Tenant’s Share of Expenses. Landlord shall give Tenant an annual estimate for
Additional Rent. Tenant shall pay one-twelfth (1/12) of the estimated amount of Additional Rent with each monthly payment of Base Rent during the Term of the Lease. At the end of each calendar year, Landlord
shall give Tenant a statement (the “Tenant’s Additional Rent Statement”) showing the Additional Rent for the prior Year. Any underpayment by Tenant shall be paid to Landlord within thirty (30) days after delivery of the
Tenant’s Additional Rent Statement, notwithstanding that such statement may be delivered subsequent to the expiration or termination of this Lease; any overpayment shall be credited against the next installment of Rent due, provided that any
overpayment shall be paid to Tenant within thirty (30) days after the Expiration Date. 

  

	 	(c)	 The following terms when used herein shall have the following meanings: 

 

	 	i.	 Taxes. The ad valorem taxes imposed on the Property (or any tax hereafter imposed in lieu thereof with
the exception of franchise and excise tax any tax measured by Landlord’s income. 

  

	 	ii.	 Operating Expenses. Any cost for the repair, maintenance, management and operation of the Property,
Building or Premises or Additional Property for Parking including, without limitation, (1) premiums and deductibles for insurance; (2) all costs of supplies, materials, equipment, and utilities used

  
 6 

 
in or related to the operation, maintenance, and repair the Property, Building or Premises or Additional Property for Parking or any part thereof and utilities, unless the cost of any utilities
is to be paid for separately by Tenant; (3) all management, inspection, legal, accounting, and service agreement costs related to the operation, maintenance, and repair of the Property, Building or Premises or Additional Property for Parking
Property or any part thereof. Any of the above services may be performed by Landlord or its affiliates, provided that fees for the performance of such services shall be reasonable and competitive with fees charged by unaffiliated entities for the
performance of such services in comparable buildings in the area. Notwithstanding anything to the contrary in this clause (ii), Operating Expenses shall not include: (a) depreciation, interest and principal payments on mortgages and other debt
costs; (b) costs for which the Landlord is reimbursed by any third party; (c) capital costs occasioned by casualty or condemnation; (d) costs incurred to comply with laws relating to the presence, removal or remediation of Hazardous
Materials (not specifically the obligation of Tenant hereunder); or (e) costs incurred to remedy any construction defect or to comply with any law which first became effective prior to the Lease Commencement Date. Any capital cost (including
capital costs included in Operating Expenses pursuant to Section 6.2) shall be amortized over the reasonable useful life of such capital item and the amount included in Operating Expenses shall be limited to the monthly amortized cost thereof.

  

	 	iii.	 Audit. Tenant and its representatives may at any reasonable time within six (6) months after the
date of receipt of any Additional Rent Statement, inspect and audit the books and records of Landlord respecting the Additional Rent Statement. Should an audit show that any Additional Rent Statement was inaccurate, the parties will make an
adjustment to reflect the actual Tenant’s Share of Operating Expenses, Insurance and Taxes for the year in question. If an audit shows that Landlord has overstated Tenant’s Share of Operating Expenses and Taxes by more than five percent
(5%) in the aggregate, then Landlord shall pay to Tenant the reasonable and actual out-of-pocket cost of the audit incurred by Landlord. 

ARTICLE IV: DELIVERY OF PREMISES 
  

	4.1	 CONDITION OF PREMISES TENANT’S AND ACCEPTANCE OF POSSESSION 

Landlord shall deliver the Premises with the Building structure and Building Systems (as defined in Section 5.1 below) in good condition
and repair. Upon Landlord’s tender thereof, Tenant shall accept possession and enter in good faith occupancy of the Premises, including those rights granted for use of the Common Areas and Additional Property for Parking. 

  
 7 

	4.2	 Tenant’s taking possession of any part of the Property, Building or Premises or Additional Property
for Parking shall be deemed to be an acceptance and an acknowledgment by Tenant that (i) Tenant has had an opportunity to conduct, and has conducted, such inspections of the Property, Building or Premises or Additional Property for Parking as
it deems necessary to evaluate their condition, (ii) except as otherwise specifically provided herein, Tenant accepts possession of the Property, Building or Premises or Additional Property for Parking in their then existing “as-is” condition, (iii) neither Landlord, nor any of Landlord’s agents, has made any oral or written representations or warranties with respect to such matters other than as set forth in the
Lease, except as provided herein. 

 ARTICLE V: ALTERATIONS AND TENANT’S PERSONAL PROPERTY 

 

	5.1	 ALTERATIONS 

  

	 	(a)	 Landlord’s Consent. Tenant shall not make any alterations, additions, installations, substitutes or
improvements (“Alterations”) in and to the Property, Building, Premises and/or the Additional Property for Parking without first obtaining Landlord’s written consent, not to be unreasonably withheld. Without limiting the foregoing,
Alterations shall include wiring, cabling and related installations for telephone, computer, voice data and other office systems. Landlord shall not unreasonably withhold, condition or delay its consent; provided, however, that Landlord shall have
no obligation to consent to Alterations that could affect any structure on the Property, Building, Premises and/or Additional Property for Parking Building or that would violate the certificate of occupancy for the Property, Building, Premises and
Additional Property for Parking or any applicable law, code or ordinance or the terms of any superior lease or mortgage affecting the Property, Building, Premises and Additional Property for Parking or that would increase the rate of insurance for
the Property, Building, Premises and Additional Property for Parking or would adversely affect any Building system, including, but not limited to, any mechanical, electrical, heating, ventilation or air conditioning system, fire protection system,
or other system serving the Building (collectively, “Building Systems”). No consent given by Landlord shall be deemed as a representation or warranty that such Alterations comply with laws, regulations and rules applicable to the Property,
Building, Premises and Additional Property for Parking (“Laws”), and Tenant shall be solely responsible for compliance therewith. Tenant shall pay Landlord’s reasonable costs of reviewing or inspecting any proposed Alterations and any
other costs that may be incurred by Landlord as a result of such Alterations. 

  

	 	(b)	 Workmanship. All Alterations shall be done at reasonable times in a
first-class workmanlike manner, by contractors mutually approved by Landlord and Tenant, and according to plans and specifications previously approved by Landlord. All work shall be done in compliance with all
Laws, and with all regulations of the Board of Fire Underwriters or any similar insurance body or bodies. Tenant shall be solely responsible for the effect of any Alterations on the Property, Building, Premises and/or Additional Property for
Parking’s structure and systems, notwithstanding that Landlord has consented to the Alterations, and shall reimburse Landlord on demand for any costs incurred by Landlord by reason of any faulty work done by Tenant or its contractors.

  
 8 

	 	(c)	 Mechanics and Other Liens. Tenant shall keep the Property, Building, Premises and Additional Property
for Parking and Tenant’s leasehold interest therein free of any liens or claims of liens, and shall discharge any such liens within ten (10) Business Days of their filing. Before commencement of any work, Tenant’s contractor shall
provide evidence of such insurance as Landlord may require, naming Landlord, Landlord’s Manager and lender as an additional insured. Tenant shall indemnify Landlord and hold it harmless from and against any cost, claim, or liability arising
from any work done by or at the direction of Tenant. 

  

	 	(d)	 Removal of Alterations. All Alterations affixed to the Property, Building or Premises or Additional
Property for Parking shall become part thereof and remain therein at the end of the Term. However, if Landlord gives Tenant notice, at the time of Landlord’s approval of Tenant’s Alterations, that Landlord will require Tenant to remove any
Alterations at the end of the Term, Tenant shall so remove the Alterations, make any repair required by such removal, and restore the Property, Building or Premises or Additional Property for Parking to their original condition prior to the date
Tenant is required to surrender the Premises to Landlord. 

  

	5.2	 TENANT’S PERSONAL PROPERTY 

Tenant may provide and install, and shall maintain in good condition, all trade fixtures, personal property, equipment, furniture and moveable
partitions required in the conduct of its business in the Premises. All of Tenant’s personal property, trade fixtures, equipment, furniture, movable partitions, and any Alterations not affixed to the Premises shall remain Tenant’s property
(“Tenant’s Property”). 
 ARTICLE VI: LANDLORD’S COVENANTS AND RESERVED RIGHTS 

 

	6.1	 SERVICES PROVIDED BY LANDLORD 

 

	 	(a)	 Separately Metered Utilities. The utilities for the Premises are separately metered. Beginning on the
Lease Commencement Date, Tenant shall place all separately metered utilities in Tenant’s name and pay all charges for all separately billed gas, electricity, telephone and other utility services used, rendered or supplied upon or in connection
with the Premises and shall indemnify Landlord against liability or damage on such account. The costs of any utilities which are not separately metered shall be included as an Operating Expense. Tenant shall not waste or permit the waste of water or
any other utilities. 

  

	 	(b)	 Graphics and Signs. Tenant shall provide, at Tenant’s expense, identification of Tenant’s name
and suite numerals at the main entrance door to the Premises. Tenant shall have the right to install one building mounted sign on the facade of the Building facing 8th Avenue or the facade of the Building facing 8th Division Street. All signs,
notices, graphics and decorations of every kind or character shall be subject to Landlord’s prior written approval, which Landlord shall not unreasonably withhold, condition or delay. 

  
 9 

	 	(c)	 Right to Cease Providing Services. In case of Force Majeure or in connection with any repairs,
alterations or additions to the Property, Building, Premises and Additional Property for Parking Property, or any other acts required of or permitted to Landlord herein, Landlord may reduce or suspend service of the utilities, facilities or
supplies, provided that Landlord shall use reasonable diligence to restore such services, facilities or supplies as soon as possible. No such reduction or suspension shall constitute an actual or constructive eviction or disturbance of Tenant’s
use or possession of the Premises or relieve the Tenant from paying Rent or performing any of its obligations under this Lease; provided, that if the reduction or suspension prevents or materially interferes with Tenant’s ability to operate its
business in the Premises or to park in the Additional Property for Parking Property, for more than five (5) consecutive business days, then Rent shall be abated or reduced, as the case may be, for so long as such prevention or material
interference continues on an equitable basis as reasonably determined by Landlord and Tenant. 

  

	6.2	 REPAIRS AND MAINTENANCE 

Landlord shall repair and maintain (i) the Common Areas, (ii) the structural portions of the Building, (iii) the exterior walls
of the Building (including exterior windows and glazing), (iv) the roof, and (v) the basic plumbing, electrical, mechanical and heating, ventilating and air-conditioning systems serving the Premises,
in the manner and to the extent customarily provided by landlords in similar buildings in the area. Tenant shall pay for such repairs as a part of Operating Expenses. If any maintenance, repair or replacement is required because of any act, omission
or neglect of duty by Tenant or its agents, employees, invitees or contractors, the cost thereof shall be paid by Tenant to Landlord as additional rent within thirty (30) days after billing. 

Notwithstanding the above and normal and customary costs for preventive maintenance, Tenant’s cost for any repairs to the mechanical,
heating, ventilating and air conditioning system, shall be limited to $1,500 per occurrence, not to exceed $5,000 in any consecutive twelve (12) month period, so long as such failure is not due to any act omission or neglect of duty by Tenant
or its agents, employees, invitees or contractors. 
  

	6.3	 QUIET ENJOYMENT 

Upon Tenants paying the rent and performing its other obligations, Landlord shall permit Tenant to peacefully and quietly hold and enjoy the
Premises, subject to the provisions of this Lease. 
  

	6.4	 INSURANCE 

Landlord shall insure the Property, Building, Premises and Additional Property for Parking Property against damage by fire and standard
extended coverage perils in the amount of the full replacement cost thereof, and shall carry public liability insurance; all in such reasonable amounts as would be carried by a prudent owner of a similar building in the area. The cost of such
insurance shall be an Operating Expense. Landlord may carry any other forms of insurance as it or its mortgagee may deem advisable which also shall be considered an Operating Expense. Insurance obtained by Landlord shall not be in lieu of any
insurance required to be maintained by Tenant. Landlord shall not carry any insurance on Tenant’s Property, and shall not be obligated to repair or replace any of Tenant’s Property. 

  
 10 

	6.5	 RESERVED RIGHTS 

Landlord reserves the following rights, exercisable without notice (except as specified below) and without liability to Tenant for damage or
injury to property, person or business and without effecting an eviction or disturbance of Tenant’s use or possession or giving rise to any claim for setoff or abatement of rent or affecting any of Tenant’s obligations under this Lease:

  

	 	(a)	 To change the name or street address of the Building. 

 

	 	(b)	 To install and maintain signs on the exterior and interior of the Building, and to prescribe the location and
style of the suite number and identification sign or lettering for the Premises occupied by the Tenant. 

  

	 	(c)	 To retain at all times, and to use in appropriate instances, pass keys to the Premises, subject to the notice
provisions in this Lease. 

  

	 	(d)	 To exhibit the Property, Building, Premises and Additional Property for Parking at reasonable hours.

  

	 	(e)	 To enter the Property, Building, Premises and Additional Property for Parking at reasonable hours for
reasonable purposes, including the posting of notices of non-responsibility, inspection and supplying janitor service or other services to be provided to Tenant hereunder. 

 

	 	(f)	 To control access and prevent unauthorized access to Common Areas and other areas. 

 

	 	(g)	 Provided that reasonable access to the Premises shall be maintained and the business of Tenant shall not be
interfered with unreasonably, to relocate, enlarge, reduce or change corridors, exits, entrances in or to the Property, Building, Premises and Additional Property for Parking and to decorate and to make repairs, alterations, additions and
improvements, structural or otherwise, in or to the Property, Building, Premises and Additional Property for Parking or any part thereof, and any adjacent building, land, street or alley, including for the purpose of connection with or entrance into
or use of the Property, Building, Premises and Additional Property for Parking in conjunction with any adjoining or adjacent building or buildings, now existing or hereafter constructed, and may for such purposes erect scaffolding and other
structures reasonably required by the character of the work to be performed, and during such operations may enter upon the Premises and take into and upon or through any part of the Building, including the Premises, all materials that may be
required to make such repairs, alterations, improvements, or additions, and in that connection Landlord may temporarily close 

  
 11 

	 	
public entry ways, other public spaces, stairways or corridors and interrupt or temporarily suspend any services or facilities agreed to be furnished by Landlord, all without the same
constituting an eviction of Tenant in whole or in part and without abatement of rent by reason of loss or interruption of the business of Tenant or otherwise and without in any manner rendering Landlord liable for damages or relieving Tenant from
performance of Tenant’s obligation under this Lease; Landlord may at its option make any repairs, alterations, improvements and additions in and about the Building and the Premises during ordinary business hours and, if Tenant desires to have
such work done during other than business hours, Tenant shall pay all overtime and additional expenses resulting therefrom. In the exercise of its rights under this Subsection (b), Landlord shall make commercially reasonable efforts not to
unreasonably interfere with the business operations of Tenant. If Landlord’s relocation or alteration of any exits, entrances in or to the Property Building, Premises or Additional Property for Parking trigger any ADA compliance obligations,
Landlord shall comply with same at is sole cost and expense (and without reimbursement as an Operating Cost). 

 ARTICLE
VII: LANDLORD’S COVENANTS AND RESERVED RIGHTS 
  

	7.1	 REPAIRS, MAINTENANCE AND SURRENDER 

 

	 	(a)	 Repairs and Maintenance. Except for Landlord’s repair and maintenance obligations set forth in
Section 6.2, Tenant shall keep the Premises in good order and condition, and shall promptly repair any damage to the Premises. All repairs shall be made in a workmanlike manner and any replacements or substitutions shall be of a quality,
utility, value and condition similar to or better than the replaced or substituted item. 

  

	 	(b)	 Surrender. At the end of the Term, Tenant shall peaceably surrender the Property, Building, Premises and
Additional Property for Parking in good order, repair and condition, except for reasonable wear and tear, and Tenant shall remove Tenant’s Property and (if required by Landlord pursuant to Section 5.1(d)) any Alterations, repairing any
damage caused by such removal and restoring the Premises and leaving them clean and neat. Any property not so removed shall be deemed abandoned and may be retained by Landlord or may be removed and disposed of by Landlord in such manner as Landlord
shall determine. Tenant shall be responsible for costs and expenses incurred by Landlord in removing any Alterations and disposing of any such abandoned property, making any incidental repairs and replacements to the Premises, and restoring the
Premises to their original condition. 

  

	7.2	 USE 

  

	 	(a)	 General Use. Tenant shall use the Property, Building, Premises and Additional Property for Parking only
for the Permitted Use, and shall not use or permit the Property, Building, Premises and Additional Property for Parking to be used in violation of any law or ordinance or of any certificate of occupancy issued for the

  
 12 

	 	
Building or the Premises. Tenant shall not cause, maintain or permit any nuisance in, or commit or allow any waste on or about the Property, Building, Premises and Additional Property for
Parking. Tenant, at Tenant’s sole cost, shall obtain all business licenses, operating permits and other approvals for the operation of Tenant’s business at the Premises. 

 

	 	(b)	 Obstructions and Exterior Displays. Tenant shall not obstruct any of the Property, Building, Premises
and Additional Property for Parking outside the Premises, and shall not, except as otherwise previously approved by Landlord, place or permit any signs, decorations, curtains, blinds, shades, awnings, aerials or flagpoles, or the like.

  

	 	(c)	 Compliance with Insurance Policies. Tenant shall not keep or use any article in the Premises, or permit
any activity therein, which is prohibited by any insurance policy covering the Building, or would result in an increase in the premiums thereunder. 

  

	7.3	 SUBLET OR ASSIGNMENT 

Tenant shall have the right to assign or sublease all of any part of the Premises to any related entity, subsidiary, successor or affiliate of
Tenant without Landlord’s consent or any profit-sharing. Otherwise, Tenant shall have the right to assign or sublease its rights under this Lease or sublet the whole or any part of the Property, Building,
Premises and Additional Property for Parking with Landlord’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed. Any sublease profits under a transfer that requires Landlord’s consent shall be split
50/50 between Landlord and Tenant after Tenant deducts reasonable fees for marketing, tenant improvements, demising costs, legal expenses and brokerage fees. 
  

	7.4	 INDEMNITIES 

  

	 	(a)	 Tenant, at Tenant’s expense, shall defend (with counsel satisfactory to Landlord), indemnify and hold
harmless Landlord and Landlord’s agents, employees, invitees, licensees and contractors from and against any cost, claim, action, liability or damage of any kind arising from (i) Tenant’s use and occupancy of the Property, Building,
Premises and Additional Property for Parking, or any activity done or permitted by Tenant, in, on or about the Property, Building, Premises and Additional Property for Parking, (ii) any breach or default by Tenant of its obligations under this
Lease, or (iii) any negligent, tortious or illegal act or omission of Tenant, its agents, employees, invitees, licensees or contractors. The obligations of Tenant under this paragraph shall survive the expiration or termination of this Lease.
Nothing in this paragraph shall relieve Landlord from, or require Tenant to indemnify Landlord against, liability for damages to property or injury to person caused by the negligence or willful misconduct of Landlord or its agents, employees or
contractors. All property kept, stored or maintained in the Property, Building, Premises and/or the Additional Property for Parking shall be at the sole risk of Tenant. 

  
 13 

	 	(b)	 Landlord, at Landlord’s expense, shall defend, indemnify and hold harmless Tenant and Tenant’s
agents, employees, invitees, licensees and contractors from and against any cost, claim, action, liability or damage of any kind arising from any negligent, tortious or illegal act or omission of Landlord, its agents, employees, invitees, licensees
and contractors. Landlord shall not be liable to Tenant or any other person or entity for any damages arising from any act or omission of any other tenant of the Property. The obligations of Landlord under this paragraph shall survive the expiration
or termination of this Lease. Nothing in this paragraph shall relieve Tenant from, or require Landlord to indemnify Tenant against, liability for damages to property or injury to person caused by the negligence or willful misconduct of Tenant or its
agents, employees or contractors. 

  

	7.5	 TENANT’S INSURANCE 

Tenant shall maintain, at its sole expense, in responsible companies qualified to do business, and in good standing and otherwise acceptable to
Landlord, the following insurance: (i) comprehensive general liability insurance covering the Property, Premises and Additional Property for Parking insuring Landlord as well as Tenant with limits which shall, at the commencement of the Term,
be at least $2,000,000 and from time to time during the Term shall be for such higher limits, if any, as are customarily carried in the area in which the Premises are located with respect to similar properties, (ii) workers’ compensation
insurance with statutory limits covering all of Tenant’s employees, (iii) “all-risk” property insurance insuring Tenant’s Property for the full replacement value of such items and
(iv) business interruption insurance. There shall be no deductible for liability policies and a deductible not greater than $5,000 for property insurance policies. Tenant shall deposit promptly with Landlord certificates for such insurance, and
all renewals thereof, bearing the endorsement that the policies will not be canceled until after thirty (30) days’ written notice to Landlord (if commercially available). All policies shall be carried with insurers with a rating of A-IX by Best’s and otherwise acceptable to Landlord. 
  

	7.6	 PAYMENT OF TAXES 

If at any time during the Term, any political subdivision of the state in which the Property is located, or any other governmental authority,
levies or assesses against Landlord a tax or excise on rents or other tax (excluding income tax, franchise and excise taxes owed by Landlord), however described, including but not limited to assessments, charges or fees required to be paid, by way
of substitution for or as a supplement to real estate taxes, or any other tax on rent or profits in substitution for or as a supplement to a tax levied against the Property, Building, Premises or Additional Property for Parking or Landlord’s
personal property, then Tenant will pay to Landlord as Additional Rent its proportionate share based on Tenant’s Percentage of said tax or excise. 

  
 14 

	7.7	 ENVIRONMENTAL ASSURANCES 

 

	 	(a)	 Covenants. 

  

	 	i.	 Tenant shall not cause any Hazardous Materials to be used, generated, stored or disposed of on, under or about,
or transported to or from, the Property, Building, Premises and Additional Property for Parking unless the same is specifically approved in advance by Landlord in writing; provided, however that small quantities of retail, household, and office
chemicals customarily sold over-the-counter to the public without special licensing or permitting requirements or the filing of a material data safety sheet and which
are reasonably necessary to Tenant’s Permitted Uses shall be permitted so long such substances are used and maintained only in such quantities as are reasonably necessary for such Permitted Use of the Premises and the ordinary course of
Tenant’s business therein, strictly in accordance with applicable law and the manufacturers’ instructions therefor. 

  

	 	ii.	 Tenant shall comply with all obligations imposed by Environmental Laws, and all other restrictions and
regulations upon the use, generation, storage or disposal of Hazardous Materials. 

  

	 	iii.	 Tenant shall deliver promptly to Landlord true and complete copies of all notices received by Tenant from any
governmental authority with respect to the use, generation, storage or disposal by Tenant of Hazardous Materials at, to or from the Property, Building, Premises and Additional Property for Parking and shall immediately notify Landlord both by
telephone and in writing of any unauthorized discharge of Hazardous Materials or of any condition that poses an imminent hazard to the Property, Building, Premises and Additional Property for Parking, the public or the environment.

  

	 	iv.	 Tenant shall complete fully, truthfully and promptly any questionnaires sent by Landlord with respect to
Tenant’s use of the Property, Building, Premises and Additional Property for Parking and its use, generation, storage and disposal of Hazardous Materials at, to or from the Premises. 

 

	 	v.	 Tenant shall permit entry onto the Premises and Additional Property for Parking by Landlord or Landlord’s
representatives at any reasonable time to verify and monitor Tenant’s compliance with its covenants set forth in this Paragraph 7.7 and to perform other environmental inspections of the Premises. 

 

	 	vi.	 If Landlord conducts any environmental inspections because it has reason to believe that Tenant’s
activities have or are likely to result in a violation of Environmental Laws or a release of Hazardous Materials on the Property, then Tenant shall pay to Landlord, as additional rent, the costs incurred by Landlord for such inspections.

  
 15 

	 	vii.	 Tenant shall cease immediately upon notice from Landlord any activity which violates or creates a risk of
violation of any Environmental Laws. 

  

	 	viii.	 After notice to and approval by Landlord, Tenant shall, at Tenants cost, promptly remove, clean-up, dispose of or otherwise remediate, in accordance with Environmental Laws and good commercial practice, any Hazardous Materials on, under or about the Property, Building, Premises and Additional Property
for Parking Property resulting from Tenant’s activities. 

  

	 	(b)	 Indemnification. Tenant shall indemnify, defend with counsel acceptable to Landlord and hold Landlord
harmless from and against any claims, damages, costs, liabilities or losses (including, without limitation, any decrease in the value of the Property, Building, Premises and Additional Property for Parking, loss or restriction of any area of the
Property, Building, Premises and Additional Property for Parking, and adverse impact of the marketability of the Property, Building, Premises and Additional Property for Parking) arising out of Tenant’s use, generation, storage or disposal of
Hazardous Materials at, to or from the Property, Building, Premises and Additional Property for Parking. This indemnification of Landlord by Tenant includes, without limitation, costs incurred in connection with any investigation of site conditions
or any cleanup, remedial, removal or restoration work required by any federal, state, or local governmental agency or political Subdivision because of Hazardous Material present in, on, or about the Property, Building, Premises and Additional
Property for Parking or in the soil or ground water on or under the Property, Building, Premises and Additional Property for Parking. 

  

	 	(c)	 Definitions. “Hazardous Materials” as used in this Lease shall have its broadest meaning under
applicable federal, state or local law, rule, regulation or publication relating to public health and/or the environment, including but not limited to the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended; the
federal Hazardous Materials Transportation Act, as amended; and the federal Resource Conservation and Recovery Act, as amended and shall include but not be limited to, materials defined or regulated as “hazardous substances”, “toxic
substances”, “hazardous wastes”, “solid waste”, “special waste”, “universal waste”, “medical waste” “infectious waste”, materials containing asbestos or urea formaldehyde; gasoline and
other petroleum products, flammables, explosives, radon, natural gases, radioactive materials and nuclear wastes and as such substances are defined or regulated in any regulations adopted and publications promulgated pursuant to said laws
(“Environmental Laws”). 

  

	 	(d)	 Survival. The obligations of Tenant in this Paragraph 7.7 shall survive the expiration or termination of
this Lease. 

  

	 	(e)	 Limitation. Notwithstanding anything to the contrary in this Lease, in no event that Tenant be liable
for any pre-existing Hazardous Materials in, on or under the Property, Building, Premises or Additional Property for Parking, nor for any Hazardous Materials released by any third party. Tenant shall have
responsibility only for Hazardous Materials released by Tenant, its agents and invitees. 

  
 16 

	7.8	 AMERICANS WITH DISABILITIES ACT 

To the extent required by applicable law, Tenant shall comply with the Americans with Disabilities Act of 1990 (“ADA”) and the
regulations promulgated thereunder. Tenant hereby expressly assumes all responsibility for compliance with the ADA relating to the Premises and the activities conducted by Tenant within the Premises. Any Alterations to the Premises made by Tenant
for the purpose of complying with the ADA or which otherwise require compliance with the ADA shall be done in accordance with this Lease; provided, that Landlord’s consent to such Alterations shall not constitute either Landlord’s
assumption, in whole or in part, of Tenant’s responsibility for compliance with the ADA, or representation or confirmation by Landlord that such Alterations comply with the provisions of the ADA. 

ARTICLE VIII: DEFAULT 
  

	8.1	 DEFAULT 

The occurrence of any one or more of the following events shall constitute a default hereunder by Tenant: 

 

	 	(a)	 The failure by Tenant to make any payment of Base Rent or Additional Rent or any other payment required
hereunder within five (5) days after written notice thereof from Landlord to Tenant; 

  

	 	(b)	 The failure by Tenant to observe or perform any of the express or implied covenants or provisions of this Lease
to be observed or performed by Tenant, if such failure shall continue for a period of more than thirty (30) days after written notice thereof from Tenant to Landlord specifying Tenant’s default; provided, however, that if the nature of
Tenant’s default is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said thirty (30) day period and diligently prosecutes
such cure to completion; 

  

	 	(c)	 The failure by Tenant or any present or future guarantor of all or any portion of Tenant’s obligations
under this Lease to pay its debts as they become due, or Tenant or any such guarantor becoming insolvent, filing or having filed against it a petition under any chapter of the United States Bankruptcy Code, 11 U.S.C. Paragraph 101 et seq. (or any
similar petition under any insolvency law of any jurisdiction) if such petition is not dismissed within sixty (60) days thereafter, proposing any dissolution, liquidation, composition, financial reorganization or recapitalization with
creditors, making an assignment or trust mortgage for the benefit of creditors, or if a receiver, trustee, custodian or similar agent is appointed or takes possession with respect to any property or business of Tenant or such guarantor; or

  
 17 

	 	(d)	 if the leasehold estate under this Lease or any substantial part of the property or assets of Tenant of this
leasehold is taken by execution, or by other process of law, or is attached or subjected to any involuntary encumbrance if such attachment or other seizure remains undismissed or undischarged for a period of ten business (10) days after the
levy thereof. 

  

	8.2	 REMEDIES OF LANDLORD AND CALCULATION OF DAMAGES 

 

	 	(a)	 Remedies. In the event of any default by Tenant, whether or not the Term shall have begun, in addition
to any other remedies available to Landlord at law or in equity, Landlord may, at its option and without further notice exercise any or all of the following remedies: 

 

	 	i.	 Terminate the Lease and upon notice to Tenant of termination of the Lease all rights of Tenant hereunder shall
thereupon come to an end as fully and completely as if the date such notice is given were the date originally fixed for the expiration of the Term, and Tenant shall then quit and surrender the Premises and its rights to use the Common Areas and
Additional Property for Parking to Landlord and Landlord shall have the right, without judicial process, to re-enter the Premises and Additional Property for Parking to Landlord. No such expiration or
termination of the Lease shall relieve Tenant of its liability and obligations under the Lease. 

  

	 	ii.	 Accelerate the payment of Base Rent and all Additional Rent under this Lease for the remainder of the Term and
terminate the Lease in the same manner, and with the same force and effect, as provided in clause (i) above. 

  

	 	iii.	 Enter the Premises and the Additional Property for Parking and cure any default by Tenant and in so doing,
Landlord may make any payment of money or perform any other act. All sums so paid by Landlord, and all incidental costs and expenses, including reasonable attorneys’ fees, shall be considered additional rent under this Lease and shall be
payable to Landlord immediately upon demand, together with interest from the date of demand to the date of payment at the Default Rate. 

  

	 	(b)	 Calculation of Damages. If this Lease is terminated as provided in Paragraph 8.2(a)(i) above, Tenant,
until the end of the Term, or what would have been such Term in the absence of any such event, shall be liable to Landlord, as damages for Tenant’s default, for the amount of the Base Rent and all Additional Rent and other charges which would
be payable under this lease by Tenant if this Lease were still in effect, less the net proceeds of any reletting of the Premises actually collected by Landlord after deducting all Landlord’s expenses in connection with such reletting,
including, without limitation, all repossession costs, brokerage and management commissions, operating expenses, legal expenses, reasonable attorneys’ fees, alteration costs and expenses of preparation of the Premises for such reletting. Tenant
shall pay such damages to Landlord monthly on the days on which the Base Rent and on the days on which Additional Rent would have been payable as if this Lease were still in effect, and Landlord shall be entitled to recover from Tenant such damages
monthly as the same shall arise. 

  
 18 

 If Base Rent and Additional Rent are accelerated and this Lease is terminated as provided in
Paragraph 8.2(a)(ii) above, Tenant shall be liable to pay to Landlord, in one payment, as damages for Tenant’s default, an amount equal to the total amount of Base Rent and additional rent reserved in this Lease from the date of default to the
date of expiration of the Term, minus such net proceeds of reletting of the Premises that Tenant proves could be collected by Landlord in mitigation, after deducting all Landlord’s expenses in connection with such reletting, including, without
limitation, all repossession costs, brokerage and management commissions, operating expenses, legal expenses, reasonable attorneys’ fees, alteration costs and expenses of preparation of the Premises for such reletting, all discounted at a fixed
annual interest rate equal to the Federal Funds Rate as published in The Wall Street Journal on the date of Landlord’s election to accelerate the rents hereunder. 
  

	 	(c)	 No Limitations. Nothing contained in this Lease shall limit or prejudice the right of Landlord to prove
for and obtain in proceedings for bankruptcy or insolvency by reason of the termination of this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, the
damages are to be provided, whether or not the amount be greater, equal to, or less than the amount of the loss or damages referred to above. 

  

	 	(d)	 Cumulative Remedies. Landlord’s remedies under this Lease are cumulative and not exclusive of any
other remedies to which Landlord may be entitled in case of Tenant’s default or threatened default under this Lease, including, without limitation, the remedies of injunction and specific performance. 

ARTICLE IX: CASUALTY AND EMINENT DOMAIN 
  

	9.1	 CASUALTY 

  

	 	(a)	 Casualty in General. If, during the Term, the Property, Building, Premises or Additional Property for
Parking, are wholly or partially damaged or destroyed by fire or other casualty, and the casualty renders the Property, Building, Premises and Additional Property for Parking totally or partially inaccessible or unusable by Tenant in the ordinary
conduct of Tenant’s business, Landlord and Tenant shall each have the right to terminate this Lease by giving written notice to the other party. 

  

	 	(b)	 Reduction in Base and Additional Rent. In the event of a fire or other casualty which does not result in
a termination of the Lease, Base Rent and Additional Rent shall be proportionately reduced based on the portion of the Property, Building, Premises and/or Additional Property for Parking, rendered unusable during the period of repair or restoration,
and Landlord shall repair or restore the Property, Building, Premises and Additional Property for Parking, to the extent of available proceeds or awards from such casualty. Landlord shall not be required to repair or restore any damage to
Tenant’s Property or any Alterations. 

  
 19 

	 	(c)	 Waiver of Subrogation. Landlord and Tenant shall cause each property insurance policy obtained by each
of them to provide that the insurer waives all right of recovery by way of subrogation against either Landlord or Tenant in connection with any loss or damage covered by such policy. 

 

	9.2	 EMINENT DOMAIN 

 

	 	(a)	 Eminent Domain in General. If the whole of the Property, Building, Premises and Additional Property for
Parking, shall be taken or appropriated under the power of eminent domain or condemnation (a “Taking”) so as to render the balance unusable by Tenant, either Landlord or Tenant may terminate this Lease and the termination date shall be the
date of the Taking, or the date possession is taken by the Taking authority, whichever is earlier. If the whole or any part of the Property, Building, Premises or Additional Property for Parking, is the subject of a Taking and such Taking materially
affects the normal operation of Tenants use of the Property, Building, Premises and Additional Property for Parking, either Landlord or Tenant may elect to terminate this Lease. A sale by Landlord under threat of a Taking shall constitute a Taking
for the purpose of this Paragraph 9.2. No award for any partial or entire Taking shall be apportioned. Landlord shall receive (subject to the rights of Landlord’s mortgagees) and Tenant hereby assigns to Landlord any award which may be made and
any other proceeds in connection with such Taking, together with all rights of Tenant to such award or proceeds, including, without limitation, any award or compensation for the value of all or any part of the leasehold estate; provided that nothing
contained in this Paragraph 9.2(a) shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any separate award made to Tenant for (i) the taking of Tenant’s Property, or (ii) interruption of or
damage to Tenant’s business, or (iii) Tenant’s moving and relocation costs. 

  

	 	(b)	 Reduction in Base and Additional Rent. In the event of a Taking which does not result in a termination
of the Lease, Base Rent and Additional Rent shall be proportionately reduced based on the portion of the Property, Building, Premises and/or Additional Property for Parking, rendered unusable, and Landlord shall restore the Property, Building,
Premises and Additional Property for Parking, to the extent of available proceeds or awards from such Taking. Landlord shall not be required to repair or restore any damage to Tenant’s Property or any Alterations. 

 

	 	(c)	 Sole Remedies. This Paragraph 9.2 sets forth Tenant’s and Landlord’s sole remedies for Taking.
Upon termination of this Lease pursuant to this Paragraph 9.2, Tenant and Landlord hereby agree to release each other from any and all obligations and liabilities with respect to this Lease except such obligations and liabilities which arise or
accrue prior to such termination. 

  
 20 

 ARTICLE X: RIGHTS OF PARTIES HOLDING SENIOR INTERESTS 

 

	10.1	 SUBORDINATION 

This Lease shall be subject and subordinate to any and all mortgages, deeds of trust and other instruments in the nature of a mortgage, ground
lease or other matters of record (“Senior Interests”) which now or at any time hereafter encumber the Property and Tenant shall, within twenty (20) days of Landlord’s request, execute and deliver to Landlord such recordable
written instruments as shall be necessary to show the subordination of this Lease to such Senior Interests. Notwithstanding the foregoing, if any holder of a Senior Interest succeeds to the interest of Landlord under this Lease, then, at the option
of such holder, this Lease shall continue in full force and effect and Tenant shall attorn to such holder and recognize such holder as its landlord as long as such holder agrees to assume its obligations under this Lease. In the event of attornment,
no such holder of a Senior Interest or successor thereto shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord (prior to such party becoming Landlord under such
attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such party, or (iii) bound by any future modification of this Lease not consented to by such party. Notwithstanding the foregoing,
Landlord shall make good faith commercially reasonable efforts to obtain a subordination, non-disturbance and attornment agreement from its sole current lender First Bank on such lender’s current
commercially reasonable form. 
 ARTICLE XI: GENERAL 
  

	11.1	 AUTHORITY 

Each of Landlord and Tenant represents and warrants that those persons executing this Lease on such party’s behalf are duly authorized to
execute and deliver this Lease on its behalf, and that this Lease is binding upon such party in accordance with its terms, and simultaneously with the execution of this Lease, Tenant shall deliver evidence of such authority to Landlord in form
satisfactory to Landlord, if so requested. 
  

	11.2	 NOTICES 

Any notice required or permitted hereunder shall be in writing. Notices shall be addressed to Landlord c/o Manager at Manager’s Address
and to Tenant at Tenant’s Address. Any communication so addressed shall be deemed duly given when delivered by hand, one day after being sent by Federal Express (or other guaranteed one day delivery service) or three days after being sent by
registered or certified mail, return receipt requested. Either party may change its address by giving notice to the other. 
  

	11.3	 NO WAIVER OR ORAL MODIFICATION 

No provision of this Lease shall be deemed waived by Landlord or Tenant except by a signed written waiver. No consent to any act or waiver of
any breach or default, express or implied, by Landlord or Tenant, shall be construed as a consent to any other act or waiver of any other breach or default. 

  
 21 

	11.4	 SEVERABILITY 

If any provision of this Lease, or the application thereof in any circumstances, shall to any extent be invalid or unenforceable, the remainder
of this Lease shall not be affected thereby, and each provision hereof shall be valid and enforceable to the fullest extent permitted by law. 
  

	11.5	 REQUESTS BY TENANT 

Tenant shall pay, on demand, all reasonable costs incurred by Landlord, including without limitation reasonable attorneys’ fees, in
connection with any matter requiring Landlord’s review or consent or any other requests made by Tenant under this Lease, regardless of whether such request is granted by Landlord. 

 

	11.6	 ESTOPPEL CERTIFICATE 

Within fifteen (15) days after written request by Landlord, Tenant shall execute, acknowledge and deliver to Landlord a written statement
certifying (i) that this Lease is unmodified and in full force and effect, or is in full force and effect as modified and stating the modifications; (ii) the amount of Base Rent currently payable by Tenant to Landlord;
(iii) Tenant’s Additional Rent currently payable by Tenant to Landlord; (iv) the date to which Base Rent and Additional Rent have been paid in advance; (v) the amount of any security deposited with Landlord; (vi) that
Landlord is not in default hereunder or, if Landlord is claimed to be in default, stating the nature of any claimed default, and (vii) such other matters as may be reasonably requested by Landlord. Any such statement may be relied upon by a
purchaser, assignee or lender. Tenant’s failure to execute and deliver such statement within the time required shall be conclusive upon Tenant that this Lease is in full force and effect and has not been modified except as represented by
Landlord; and there are no uncured defaults in Landlord’s performance and Tenant has no right of offset, counterclaim or deduction against rent. 
  

	11.7	 WAIVER OF LIABILITY 

Landlord and Tenant each hereby waive all rights of recovery against the other and against the officers, employees, agents, and representatives
of the other, on account of loss by or damage to the waiving party or its property or the property of others under its control, to the extent that such loss or damage is insured against under any insurance policy that either may have in force at the
time of the loss or damage. Each party shall notify its insurers that the foregoing waiver is contained in this Lease. 
  

	11.8	 EXECTION, PRIOR AGREEMENTS AND NO REPRESENTATIONS 

This Lease shall not be binding and enforceable until executed by authorized representatives of Landlord and Tenant. This Lease contains all of
the agreements of the parties with respect to the subject matter hereof and supersedes all prior dealings, whether written or oral, between them with respect to such subject matter. 

  
 22 

	11.9	 BROKERS 

Landlord recognizes Jones Land LaSalle as Broker for the Tenant and Broker shall be paid a market commission by Landlord under terms and
conditions to be established by separate agreement between Broker and Landlord. 
  

	11.10	 SUCCESSORS AND ASSIGNS 

Without limiting the provisions of Section 7.3, this Lease shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns; provided, however, that only the original Landlord named herein shall be liable for Landlord’s obligations under this Lease, if any, accruing before the beginning of the Term, and thereafter the original
Landlord named herein and each successive owner of the Premises shall be liable only for obligations accruing during the period of their respective ownership. 
  

	11.11	 APPLICABLE LAW AND LEASE INTERPRETATION 

This Lease shall be construed, governed and enforced according to the laws of Tennessee. In construing this Lease, paragraph headings are for
convenience only and shall be disregarded. Any recitals herein or exhibits attached hereto are hereby incorporated into this Lease by this reference. Time is of the essence of this Lease and every provision contained herein. The parties acknowledge
that this Lease was freely negotiated by both parties, each of whom was represented by counsel; accordingly, this Lease shall be construed according to the fair meaning of its terms, and not against either party. If one or more persons or parties
constitute Tenant, the obligations of such persons or parties hereunder shall be joint and several. 
  

	11.12	 COSTS OF COLLECTION, ENFORCEMENT AND DISPUTES 

Tenant shall pay all costs of collection, including reasonable attorneys’ fees, incurred by Landlord in connection with any default by
Tenant. If either Landlord or Tenant institutes any action to enforce the provisions of this Lease or to seek a declaration of rights hereunder, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and court costs as
part of any award. Landlord and Tenant hereby waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereto against the other, on or in respect to any matter whatsoever arising out of or in any way connected
with this Lease, the relationship of Landlord and Tenant hereunder, Tenant’s use or occupancy of the Property, Building, Premises and Additional Property for Parking, and/or claim of injury or damage. 

 

	11.13	 HOLDOVER 

In the event of holding over by Tenant after expiration or termination of this Lease without the written consent of Landlord, Tenant shall pay
Base Rent in an amount equal to one hundred and fifty percent (150%) of the Base Rent in effect on the last month of the initial Term or One Year Extension or Two Month Extension as applicable together with one hundred percent (100%) of all
Additional Rent. No holding over by Tenant after the term of this Lease shall be construed to extend this Lease, and, in such event, Tenant shall be 

  
 23 

 
deemed a tenant at will, terminable on thirty (30) days’ notice from Landlord. Tenant shall not be liable for consequential damages sustained by Landlord on account of such holding over
provided such Holdover does not continue for a period of more than sixty (60) days after the expiration of the Term, One Year Extension or Two Month Extension as applicable. 

 

	11.14	 FORCE MAJEURE 

If Landlord or Tenant is prevented from or delayed in performing any act required of it hereunder, and such prevention or delay is caused by
strikes, labor disputes, inability to obtain labor, materials, or equipment, inclement weather, acts of God, governmental restrictions, regulations, or controls, judicial orders, enemy or hostile government actions, civil commotion, fire or other
casualty, or other causes beyond such party’s reasonable control (“Force Majeure”), the performance of such act shall be excused for a period equal to the period of prevention or delay. A party’s financial inability to perform
its obligations shall in no event constitute Force Majeure. Nothing in this Paragraph 11.14 shall excuse or delay Tenant’s obligation to pay any rent or other charges due under this Lease. 

 

	11.15	 LIMITATION ON LIABILITY 

Landlord shall not be liable to Tenant for any damage to or loss of personal property in, or to any personal injury occurring in, the Premises,
unless such damage, loss or injury is the result of the gross negligence or willful misconduct of Landlord or Landlord’s employees or agents. The obligations and liability of Landlord arising from or in connection with this Lease, or any
amendment to this Lease or any instrument or document executed in connection herewith do not constitute personal obligations or liabilities of the individual partners, members, managers, directors, officers, shareholders, trustees or beneficiaries
of Landlord, and Tenant shall not seek or have any recourse against the partners, members, managers, directors, officers, shareholders, trustees or beneficiaries of Landlord, or any of their personal assets for satisfaction of any liability with
respect to this Lease, or any amendment to this Lease or any instrument or document executed in connection herewith. In the event of any default by Landlord under this Lease, Tenant’s sole and exclusive remedy and recourse shall be against
Landlord’s interest in the Property, Building, Premises and Additional Property for Parking and not against any other assets of Landlord. In no event shall Landlord be responsible for consequential damages. Assets of a Landlord which is a
partnership or limited liability company do not include the assets of the partners or members of such Landlord, and the negative capital account of a partner or member and an obligation of a partner or member to contribute capital to the partnership
or limited liability company which constitutes Landlord shall not be deemed to be assets of the partnership or limited liability company which is Landlord. 
  

	11.16	 NOTICE OF LANDLORD’S DEFAULT 

The failure by Landlord to observe or perform any of the express or implied covenants or provisions of this Lease to be observed or performed
by Landlord shall not constitute a default by Landlord unless such failure shall continue for a period of more than thirty (30) days after written notice thereof from Tenant to Landlord specifying Landlord’s default;

  
 24 

 
provided, however, that if the nature of Landlord’s default is such that more than thirty (30) days are reasonably required for its cure, then Landlord shall not be deemed to be in
default if Landlord commences such cure within said thirty (30) day period and diligently prosecutes such cure to completion. Tenant shall, simultaneously with delivery to Landlord, provide written notice specifying the Landlord default to the
holder of any first mortgage or deed of trust covering the Premises whose name and address have been furnished to Tenant in writing. 
  

	11.17	 LEASE NOT TO BE RECORDED 

Tenant agrees that it will not record this Lease. If required by applicable statute, each party shall, upon the request of the other, execute
and deliver a notice or short form of this Lease in such form, if any, as may be permitted by applicable statute. If this Lease is terminated before the Term expires the parties shall execute, deliver and record an instrument acknowledging such fact
and the actual date of termination of this Lease, and Tenant hereby appoints Landlord its attorney-in-fact, coupled with an interest, with full power of substitution to
execute such instrument. 
  

	11.18	 SECURITY DEPOSIT 

Intentionally Omitted 

SIGNATURE PAGE IMMEDIATELY FOLLOWS 

  
 25 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease, which includes the Major Lease Terms,
Standard Lease Provisions and Exhibits attached to this Lease, with the intent that each of the parties shall be legally bound thereby. 
  

			
	TENANT: Eargo, Inc., a Delaware Corporation

 
			
		
	By: 	 	/s/ William H. Brownie

 
			
	Name:	 	William H. Brownie
	Title:	 	CCOO & CFO
	 Date:
	 	9/10/18
	
	 LANDLORD: SEV 8th and Division, a Tennessee Limited Liability
Company

 
			
		
	 By: 
	 	/s/ Cameron W. Sorenson

 
			
	 Name:
	 	Cameron W. Sorenson
	 Title:
	 	Manager
	Date:	 	9/11/18

  
 26

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}]]