Document:

EX-10.19

 Exhibit 10.19 

SENIOR SECURED CREDIT FACILITIES 

CREDIT AGREEMENT 
 dated as
of October 30, 2020 
 among 

UIPATH, INC., 
 as the
Borrower, 
 THE SEVERAL LENDERS FROM TIME TO TIME PARTY HERETO, 

SILICON VALLEY BANK, 
 as
Administrative Agent, Issuing Lender, Swingline Lender, 
 Mandated Lead Arranger, Joint Lead Arranger and Joint Bookrunner 

HSBC VENTURES USA INC. 
 as

 Joint Lead Arranger and Joint Bookrunner 

SUMITOMO MITSUI BANKING CORPORATION 

as 
 Joint Lead Arranger and Joint
Bookrunner 
 and 
 MIZUHO
BANK, LTD. 
 as 
 Joint Lead
Arranger and Joint Bookrunner 

 Table of Contents 

 

							
	 	 	 	  	Page	 
	 SECTION 1 DEFINITIONS
	  	 	1	 
			
	 1.1
	 	Defined Terms	  	 	1	 
	 1.2
	 	Other Definitional Provisions.	  	 	35	 
	 1.3
	 	Rounding	  	 	36	 
		
	 SECTION 2 AMOUNT AND TERMS OF COMMITMENTS
	  	 	36	 
			
	 2.1
	 	Revolving Commitments.	  	 	36	 
	 2.2
	 	Procedure for Revolving Loan Borrowing	  	 	37	 
	 2.3
	 	Swingline Commitment	  	 	37	 
	 2.4
	 	Procedure for Swingline Borrowing; Refunding of Swingline Loans.	  	 	38	 
	 2.5
	 	Overadvances	  	 	39	 
	 2.6
	 	Fees.	  	 	40	 
	 2.7
	 	Termination or Reduction of Revolving Commitments.	  	 	40	 
	 2.8
	 	Prepayments.	  	 	40	 
	 2.9
	 	Conversion and Continuation Options.	  	 	41	 
	 2.10
	 	Limitations on Eurodollar Tranches	  	 	41	 
	 2.11
	 	Interest Rates and Payment Dates.	  	 	41	 
	 2.12
	 	Computation of Interest and Fees.	  	 	42	 
	 2.13
	 	Inability to Determine Interest Rate	  	 	42	 
	 2.14
	 	Pro Rata Treatment and Payments.	  	 	43	 
	 2.15
	 	Illegality; Requirements of Law.	  	 	46	 
	 2.16
	 	Taxes.	  	 	47	 
	 2.17
	 	Indemnity	  	 	51	 
	 2.18
	 	Change of Lending Office	  	 	51	 
	 2.19
	 	Substitution of Lenders	  	 	51	 
	 2.20
	 	Defaulting Lenders.	  	 	52	 
	 2.21
	 	Incremental Facility.	  	 	55	 
	 2.22
	 	Notes	  	 	57	 
		
	 SECTION 3 LETTERS OF CREDIT
	  	 	57	 
			
	 3.1
	 	L/C Commitment.	  	 	57	 
	 3.2
	 	Procedure for Issuance of Letters of Credit	  	 	58	 
	 3.3
	 	Fees and Other Charges.	  	 	58	 
	 3.4
	 	L/C Participations; Existing Letters of Credit.	  	 	59	 
	 3.5
	 	Reimbursement.	  	 	59	 
	 3.6
	 	Obligations Absolute	  	 	60	 
	 3.7
	 	Letter of Credit Payments	  	 	60	 
	 3.8
	 	Applications	  	 	61	 
	 3.9
	 	Interim Interest	  	 	61	 
	 3.10
	 	Cash Collateral.	  	 	61	 
	 3.11
	 	Additional Issuing Lenders	  	 	62	 
	 3.12
	 	Resignation of the Issuing Lender	  	 	62	 
	 3.13
	 	Applicability of ISP	  	 	63	 
		
	 SECTION 4 REPRESENTATIONS AND WARRANTIES
	  	 	63	 
			
	 4.1
	 	Financial Condition.	  	 	63	 
	 4.2
	 	No Change	  	 	63	 

  
 -i- 

 Table of Contents 

(continued) 
  

							
	 	 	 	  	Page	 
	 4.3
	 	Existence; Compliance with Law	  	 	63	 
	 4.4
	 	Power, Authorization; Enforceable Obligations	  	 	64	 
	 4.5
	 	No Legal Bar	  	 	64	 
	 4.6
	 	Litigation	  	 	64	 
	 4.7
	 	No Default	  	 	64	 
	 4.8
	 	Ownership of Property; Liens; Investments	  	 	64	 
	 4.9
	 	Intellectual Property	  	 	64	 
	 4.10
	 	Taxes	  	 	65	 
	 4.11
	 	Federal Regulations	  	 	65	 
	 4.12
	 	Labor Matters	  	 	65	 
	 4.13
	 	ERISA	  	 	65	 
	 4.14
	 	Investment Company Act; Other Regulations	  	 	66	 
	 4.15
	 	Subsidiaries	  	 	67	 
	 4.16
	 	Use of Proceeds	  	 	67	 
	 4.17
	 	Environmental Matters	  	 	67	 
	 4.18
	 	Accuracy of Information, etc.	  	 	68	 
	 4.19
	 	Security Documents.	  	 	68	 
	 4.20
	 	Solvency	  	 	69	 
	 4.21
	 	[Reserved]	  	 	69	 
	 4.22
	 	[Reserved]	  	 	69	 
	 4.23
	 	[Reserved]	  	 	69	 
	 4.24
	 	Insurance	  	 	69	 
	 4.25
	 	No Casualty	  	 	69	 
	 4.26
	 	Contracts.	  	 	69	 
	 4.27
	 	[Reserved]	  	 	70	 
	 4.28
	 	OFAC	  	 	70	 
	 4.29
	 	Anti-Corruption Laws	  	 	70	 
		
	 SECTION 5 CONDITIONS PRECEDENT
	  	 	70	 
			
	 5.1
	 	Conditions to Initial Extension of Credit	  	 	70	 
	 5.2
	 	Conditions to Each Extension of Credit	  	 	73	 
	 5.3
	 	Post-Closing Conditions Subsequent	  	 	74	 
		
	 SECTION 6 AFFIRMATIVE COVENANTS
	  	 	75	 
			
	 6.1
	 	Financial Statements	  	 	75	 
	 6.2
	 	Certificates; Reports; Other Information	  	 	75	 
	 6.3
	 	Contracts.	  	 	77	 
	 6.4
	 	Payment of Obligations	  	 	78	 
	 6.5
	 	Maintenance of Existence; Compliance	  	 	78	 
	 6.6
	 	Maintenance of Property; Insurance	  	 	78	 
	 6.7
	 	Inspection of Property; Books and Records; Discussions	  	 	78	 
	 6.8
	 	Notices.	  	 	79	 
	 6.9
	 	Environmental Laws.	  	 	80	 
	 6.10
	 	[Reserved]	  	 	80	 
	 6.11
	 	Protection of Intellectual Property Rights.	  	 	80	 
	 6.12
	 	Additional Collateral, Etc.	  	 	80	 
	 6.13
	 	Litigation Cooperation	  	 	82	 

  
 -ii- 

 Table of Contents 

(continued) 
  

							
	 	 	 	  	Page	 
	 6.14
	 	Use of Proceeds	  	 	83	 
	 6.15
	 	[Reserved]	  	 	83	 
	 6.16
	 	Anti-Corruption Laws	  	 	83	 
	 6.17
	 	Further Assurances	  	 	83	 
		
	 SECTION 7 NEGATIVE COVENANTS
	  	 	83	 
			
	 7.1
	 	Financial Condition Covenants.	  	 	83	 
	 7.2
	 	Indebtedness	  	 	83	 
	 7.3
	 	Liens	  	 	86	 
	 7.4
	 	Fundamental Changes	  	 	86	 
	 7.5
	 	Disposition of Property	  	 	86	 
	 7.6
	 	Restricted Payments	  	 	86	 
	 7.7
	 	[Reserved]	  	 	87	 
	 7.8
	 	Investments	  	 	88	 
	 7.9
	 	ERISA	  	 	88	 
	 7.10
	 	Optional Payments and Modifications of Certain Preferred Stock and Debt Instruments	  	 	89	 
	 7.11
	 	Transactions with Affiliates	  	 	89	 
	 7.12
	 	Sale Leaseback Transactions	  	 	89	 
	 7.13
	 	Swap Agreements	  	 	89	 
	 7.14
	 	Accounting Changes	  	 	89	 
	 7.15
	 	Negative Pledge Clauses	  	 	89	 
	 7.16
	 	Clauses Restricting Subsidiary Distributions	  	 	89	 
	 7.17
	 	Lines of Business	  	 	90	 
	 7.18
	 	[Reserved]	  	 	90	 
	 7.19
	 	[Reserved].	  	 	90	 
	 7.20
	 	Amendments to Organizational Agreements	  	 	90	 
	 7.21
	 	Use of Proceeds	  	 	90	 
	 7.22
	 	Subordinated Indebtedness.	  	 	90	 
	 7.23
	 	Anti-Terrorism Laws.	  	 	91	 
		
	 SECTION 8 EVENTS OF DEFAULT
	  	 	91	 
			
	 8.1
	 	Events of Default	  	 	91	 
	 8.2
	 	Remedies Upon Event of Default	  	 	94	 
	 8.3
	 	Application of Funds	  	 	95	 
		
	 SECTION 9 THE ADMINISTRATIVE AGENT
	  	 	96	 
			
	 9.1
	 	Appointment and Authority.	  	 	96	 
	 9.2
	 	Delegation of Duties	  	 	97	 
	 9.3
	 	Exculpatory Provisions	  	 	97	 
	 9.4
	 	Reliance by Administrative Agent	  	 	98	 
	 9.5
	 	Notice of Default	  	 	98	 
	 9.6
	 	Non-Reliance on Administrative Agent and Other Lenders	  	 	99	 
	 9.7
	 	Indemnification	  	 	99	 
	 9.8
	 	Agent in Its Individual Capacity	  	 	100	 
	 9.9
	 	Successor Administrative Agent.	  	 	100	 
	 9.10
	 	Collateral and Guaranty Matters	  	 	101	 
	 9.11
	 	Administrative Agent May File Proofs of Claim	  	 	102	 

  
 -iii- 

 Table of Contents 

(continued) 
  

							
	 	 	 	  	Page	 
	 9.12
	 	No Other Duties, etc.	  	 	103	 
	 9.13
	 	Cash Management Bank and Qualified Counterparty Reports	  	 	103	 
	 9.14
	 	Survival	  	 	103	 
		
	 SECTION 10 MISCELLANEOUS
	  	 	103	 
			
	 10.1
	 	Amendments and Waivers.	  	 	103	 
	 10.2
	 	Notices	  	 	105	 
	 10.3
	 	No Waiver; Cumulative Remedies	  	 	107	 
	 10.4
	 	Survival of Representations and Warranties	  	 	107	 
	 10.5
	 	Expenses; Indemnity; Damage Waiver.	  	 	107	 
	 10.6
	 	Successors and Assigns; Participations and Assignments.	  	 	109	 
	 10.7
	 	Adjustments; Set-off.	  	 	113	 
	 10.8
	 	Payments Set Aside	  	 	113	 
	 10.9
	 	Interest Rate Limitation	  	 	114	 
	 10.10
	 	Counterparts; Electronic Execution of Assignments.	  	 	114	 
	 10.11
	 	Severability	  	 	114	 
	 10.12
	 	Integration	  	 	114	 
	 10.13
	 	GOVERNING LAW	  	 	115	 
	 10.14
	 	Submission to Jurisdiction; Waivers	  	 	115	 
	 10.15
	 	Acknowledgements	  	 	116	 
	 10.16
	 	Releases of Guarantees and Liens.	  	 	117	 
	 10.17
	 	Treatment of Certain Information; Confidentiality	  	 	117	 
	 10.18
	 	Automatic Debits	  	 	118	 
	 10.19
	 	Judgment Currency	  	 	118	 
	 10.20
	 	Patriot Act	  	 	119	 
	 10.21
	 	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	  	 	119	 
	 10.22
	 	Acknowledgement Regarding Any Supported QFCs	  	 	119	 

  
 -iv- 

 Table of Contents 

(continued) 
  

					
		  	SCHEDULES	  	
	Schedule 1.1A:	  	Commitments	  	
	Schedule 1.1B:	  	Existing Letters of Credit	  	
	Schedule 4.4:	  	Governmental Approvals, Consents, Authorizations, Filings and Notices	  	
	Schedule 4.5:	  	Requirements of Law	  	
	Schedule 4.15:	  	Subsidiaries	  	
	Schedule 4.19(a):	  	Financing Statements and Other Filings	  	
	Schedule 7.2(d):	  	Existing Indebtedness	  	
	Schedule 7.3(f):	  	Existing Liens	  	
	Schedule 7.8(n):	  	Existing Investments	  	
			
		  	EXHIBITS	  	
			
	Exhibit A:	  	Form of Guarantee and Collateral Agreement	  	
	Exhibit B:	  	Form of Compliance Certificate	  	
	Exhibit C:	  	Form of Secretary’s/Managing Member’s Certificate	  	
	Exhibit D:	  	Form of Solvency Certificate	  	
	Exhibit E:	  	Form of Assignment and Assumption	  	
	Exhibits F-1 – F-4:	  	Forms of U.S. Tax Compliance Certificate	  	
	Exhibit G:	  	Reserved	  	
	Exhibit H-1:	  	Form of Revolving Loan Note	  	
	Exhibit H-2:	  	Form of Swingline Loan Note	  	
	Exhibit H-3:	  	[Reserved]	  	
	Exhibit I:	  	Form of Borrowing Base Certificate	  	
	Exhibit J:	  	Form of Perfection Certificate	  	
	Exhibit K:	  	Form of Notice of Borrowing	  	
	 Exhibit L:
	  	 Form of Notice of Conversion/Continuation
	  	

  
 -v- 

 CREDIT AGREEMENT 

THIS CREDIT AGREEMENT (this “Agreement”), dated as of October 30, 2020, is entered into by and among
UIPATH, INC., a Delaware corporation (the “Borrower”), the several banks and other financial institutions or entities from time to time party to this Agreement (each a “Lender” and,
collectively, the “Lenders”), SILICON VALLEY BANK, as the Issuing Lender and the Swingline Lender, and SILICON VALLEY BANK (“SVB”), as administrative agent and collateral agent for the
Lenders (in such capacities, the “Administrative Agent”) and SVB as the lead arranger. 
 RECITALS: 

WHEREAS, the Borrower desires to obtain financing to refinance the Existing Credit Facility, as well as for working capital financing
and letter of credit facilities; 
 WHEREAS, the Lenders have agreed to extend a revolving credit facility to the Borrower, upon the
terms and conditions specified in this Agreement, in an aggregate principal amount not to exceed $200,000,000, including a letter of credit sub-facility in the aggregate availability amount of $30,000,000 (as
a sublimit of the revolving loan facility), and a swingline sub-facility in the aggregate availability amount of $15,000,000 (as a sublimit of the revolving loan facility); 

WHEREAS, the Borrower has agreed to secure all of its Obligations by granting to the Administrative Agent, for the ratable benefit of
the Secured Parties, a first priority lien (subject to Liens permitted by the Loan Documents) on substantially all of its personal property assets; and 

WHEREAS, each of the Guarantors has agreed to guarantee the Obligations of the Borrower and to secure its respective Obligations in
respect of such guarantee by granting to the Administrative Agent, for the ratable benefit of the Secured Parties, a first priority lien (subject to Liens permitted by the Loan Documents) on substantially all of its personal property assets. 

NOW, THEREFORE, the parties hereto hereby agree as follows: 

SECTION 1 
 DEFINITIONS

 1.1 Defined Terms. As used in this Agreement (including the recitals hereof), the terms listed in this
Section 1.1 shall have the respective meanings set forth in this Section 1.1. 

“ABR”: for any day, a rate per annum equal to the higher of (a) the Prime Rate in effect on such day and
(b) the Federal Funds Effective Rate in effect for such day plus 0.50% ; provided that in no event shall the ABR be deemed to be less than 2.00%. Any change in the ABR due to a change in the Prime Rate or the Federal Funds Effective Rate shall
be effective as of the opening of business on the effective day of the change in such rates. 
 “ABR Loans”: Loans,
the rate of interest applicable to which is based upon the ABR. 
 “Account Debtor”: any Person who may become
obligated to any Person under, with respect to, or on account of, an Account, chattel paper or general intangibles (including a payment intangible). Unless otherwise stated, the term “Account Debtor,” when used herein, shall mean an
Account Debtor in respect of an Account of any of the Borrowing Base Entities, as applicable. 
 “Accounts”: all
“accounts” (as defined in the UCC) of a Person, including, without limitation, 

  
 1 

 
accounts, accounts receivable, monies due or to become due and obligations in any form (whether arising in connection with contracts, contract rights, instruments, general intangibles, or chattel
paper), in each case whether arising out of goods sold or services rendered or from any other transaction and whether or not earned by performance, now or hereafter in existence, and all documents of title or other documents representing any of the
foregoing, and all collateral security and guaranties of any kind, now or hereafter in existence, given by any Person with respect to any of the foregoing. Unless otherwise stated, the term “Account,” when used herein, shall mean an
Account of any of the Borrowing Base Entities, as applicable. 
 “Adjusted Quick Ratio” is the ratio of
(a) Quick Assets to (b) (i) Consolidated Current Liabilities minus (ii) to the extent included in Consolidated Current Liabilities, Deferred Revenue for such period (as stated on Borrower’s balance sheet, calculated in
accordance with GAAP). 
 “Administrative Agent”: SVB, as the administrative agent under this Agreement and the
other Loan Documents, together with any of its successors in such capacity. 
 “Advance Rate” is 500%; provided that
the Required Lenders have the right in their reasonable discretion on a case by case basis to reduce the Advance Rate in order to mitigate the impact of events, conditions, contingencies or risks which may adversely affect the Collateral or its
value, including but not limited to, the results of periodic field exams or Borrower’s net loss of customers, Contracts, users or subscribers. 

“Affected Financial Institution”: (a) any EEA Financial Institution or (b) any UK Financial Institution. 

“Affected Lender”: as defined in Section 2.19. 

“Affiliate”: with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified; provided that, neither the Administrative Agent nor the Lenders shall be deemed Affiliates of the Loan Parties as a result of the exercise of their
rights and remedies under the Loan Documents. 
 “Agent Parties”: as defined in
Section 10.2(d)(ii). 
 “Aggregate Exposure”: with respect to any Lender at any time, an
amount equal to the sum of the amount of such Lender’s Revolving Commitment then in effect or, if the Revolving Commitments have been terminated, the amount of such Lender’s Revolving Extensions of Credit then outstanding. 

“Aggregate Exposure Percentage”: with respect to any Lender at any time, the ratio (expressed as a percentage) of such
Lender’s Aggregate Exposure at such time to the Aggregate Exposure of all Lenders at such time. 
 “Agreement”:
as defined in the preamble hereto. 
 “Agreement Currency”: as defined in Section 10.19.

 “Annual Contract Value” is measured on a trailing twelve (12) month basis, an amount equal to the annual
value of the Software License Revenue received in respect of a customer Contract received over such twelve (12) month period. 

“Annualized Retention Rate” is a percentage equal to the sum of (a) one hundred percent (100%) minus (b) the
Churn Rate multiplied by four (4), provided that the Required Lenders may reduce the foregoing Annualized Retention Rate based on events or conditions as determined by the Required Lenders, in their reasonable discretion. 

  
 2 

 “Applicable Margin”: the rate per annum set forth under the relevant
column heading below: 
 REVOLVING LOANS 
  

			
	 Eurodollar Loans
	 	 ABR Loans

	3.00%	 	2.00%

 “Application”: an application, in such form as the Issuing Lender may specify from
time to time, requesting the Issuing Lender to issue a Letter of Credit. 
 “Approved Fund”: any Fund that is
administered or managed by (a) a Lender, (b) an Affiliate of a Lender, or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Assignment and Assumption”: an assignment and assumption entered into by a Lender and an Eligible Assignee (with the
consent of any party whose consent is required by Section 10.6), and accepted by the Administrative Agent, in substantially the form of Exhibit E or any other form approved by the Administrative
Agent. 
 “Available Revolving Commitment”: at any time: 

(a) If Borrower is in a Non-Formula Period, an amount equal to the Total Revolving Commitments in
effect at such time, minus (x) the Dollar Equivalent of the aggregate undrawn amount of all outstanding Letters of Credit at such time, minus (y) the Dollar Equivalent of the aggregate amount of all L/C Disbursements that
have not yet been reimbursed by Borrower or converted into Revolving Loans at such time, minus (z) the aggregate principal balance of any Revolving Loans outstanding at such time; and 

(b) If Borrower is in a Borrowing Base Period, an amount equal to (A) the lesser of (i) the Total Revolving Commitments in
effect at such time and (ii) the Borrowing Base in effect at such time, less (B) (x) the Dollar Equivalent of the aggregate undrawn amount of all outstanding Letters of Credit at such time, minus (y) the Dollar
Equivalent of the aggregate amount of all L/C Disbursements that have not yet been reimbursed by Borrower or converted into Revolving Loans at such time, minus (z) the aggregate principal balance of any Revolving Loans outstanding at
such time; 
 provided that, in each case, for purposes of calculating any Lender’s Revolving Extensions of Credit for the
purpose of determining such Lender’s Available Revolving Commitment pursuant to Section 2.6(b), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero. 

“Available Revolving Increase Amount”: as of any date of determination, an amount equal to the result of (a)
$50,000,000 minus (b) the aggregate principal amount of Increases to the Revolving Commitments previously made pursuant to Section 2.21 after the Closing Date. 

“Bail-In Action”: the exercise of any Write-Down and Conversion Powers by the
applicable Resolution Authority in respect of any liability of an Affected Financial Institution. 

  
 3 

 “Bail-In Legislation”: with
(a) respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation rule or requirement for such EEA Member Country from
time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any
other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other
insolvency proceedings). 
 “Bankruptcy Code”: Title 11 of the United States Code entitled
“Bankruptcy.” 
 “Beneficial Ownership Regulation”: 31 C.F.R. § 1010.230. 

“Benefitted Lender”: as defined in Section 10.7(a). 

“Blocked Person”: as defined in Section 7.23. 

“Board”: the Board of Governors of the Federal Reserve System of the United States (or any successor). 

“Borrower”: as defined in the preamble hereto. 

“Borrowing Base” is the product of (i) the Advance Rate, multiplied by (ii) the Borrowing Base
Entities’ Monthly Contract Value multiplied by (iii) Borrowing Base Entities’ Annualized Retention Rate, as may be adjusted from time to time by the Required Lenders in their reasonable determination; provided, however,
that no more than fifty percent (50%) in the aggregate of the Borrowing Base at any time may be attributable to Software License Revenue of Subsidiaries (and with any portion in excess thereof to be disregarded). 

“Borrowing Base Certificate”: a certificate, including transaction reports, to be executed and delivered from time to
time by the Borrower in substantially the form of Exhibit I, or in such other form as shall be acceptable in form and substance to the Required Lenders. 

“Borrowing Base Entities”: collectively, the Borrower and each of its Subsidiaries other than an Immaterial
Subsidiary. 
 “Borrowing Base Period”: any period that is not a Non-Formula
Period. 
 “Borrowing Date”: any Business Day specified by the Borrower in a Notice of Borrowing as a date on which
the Borrower requests the relevant Lenders to make Loans hereunder. 
 “Business”: as defined in
Section 4.17(b). 
 “Business Day”: a day other than a Saturday, Sunday or other day on
which commercial banks in the State of New York are authorized or required by law to close; provided that with respect to notices and determinations in connection with, and payments of principal and interest on, Eurodollar Loans, such day is
also a day for trading by and between banks in Dollar deposits in the interbank eurodollar market. 
 “Capital Lease
Obligations”: as to any Person, the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are
required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP and, for the purposes of this Agreement, the amount of such obligations at any time shall be the capitalized amount thereof at such time
determined in accordance with GAAP. 

  
 4 

 “Capital Stock”: with respect to any Person, all of the shares of
capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such
Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other
interests are outstanding on any date of determination. 
 “Cash Collateralize”: to pledge and deposit with or
deliver to (a) with respect to Obligations in respect of Letters of Credit, the Administrative Agent, for the benefit of the Issuing Lender and one or more of the Lenders, as applicable, as collateral for L/C Exposure or obligations of the
Lenders to fund participations in respect thereof, cash or deposit account balances or, if the Administrative Agent and the Issuing Lender shall agree in their sole discretion, other credit support, in each case pursuant to documentation in form and
substance satisfactory to the Administrative Agent and such Issuing Lender; (b) with respect to Obligations for credit extended under any Cash Management Agreement in connection with Cash Management Services, the applicable Cash Management
Bank, for its own or any of its applicable Affiliate’s benefit, as provider of such Cash Management Services, cash or deposit account balances or, if the Administrative Agent and the applicable Cash Management Bank shall agree in their
sole discretion, other credit support, in each case pursuant to documentation in form and substance satisfactory to the Administrative Agent and such Cash Management Bank or (c) with respect to Obligations in respect of any Specified Swap
Agreements, the applicable Qualified Counterparty, as Collateral for such Obligations, cash or deposit account balances or, if such Qualified Counterparty shall agree in its sole discretion, other credit support, in each case pursuant to
documentation in form and substance satisfactory to such Qualified Counterparty. “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit
support. 
 “Cash Equivalents”: (a) marketable direct obligations issued by, or unconditionally guaranteed by, the
United States Government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one year from the date of acquisition; (b) certificates of deposit, time deposits, eurodollar
time deposits or overnight bank deposits having maturities of six months or less from the date of acquisition issued by any Lender or by any commercial bank organized under the laws of the United States or any state thereof having combined capital
and surplus of not less than $250,000,000; (c) commercial paper of an issuer rated at least A-1 by S&P or P-1 by Moody’s, or carrying an equivalent rating by a
nationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of commercial paper issuers generally, and maturing within one year from the date of acquisition; (d) repurchase obligations of any Lender or
of any commercial bank satisfying the requirements of clause (b) of this definition, having a term of not more than 30 days, with respect to securities issued or fully guaranteed or insured by the United States government; (e) securities
with maturities of one year or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory
or by any foreign government, the securities of which state, commonwealth, territory, political subdivision, taxing authority or foreign government (as the case may be) are rated at least A by S&P or A by Moody’s; (f) securities with
maturities of six months or less from the date of acquisition backed by standby letters of credit issued by any Lender or any commercial bank satisfying the requirements of clause (b) of this definition; (g) money market mutual or similar
funds that invest exclusively in assets satisfying the requirements of clauses (a) through (f) of this definition; or (h) money market funds that (i) comply with the criteria set forth in SEC Rule
2a-7 under the Investment Company Act of 1940, as amended, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $5,000,000,000.  

  
 5 

 “Cash Management Agreement”: as defined in the definition of
“Cash Management Services.” 
 “Cash Management Bank”: (i) any Person that, at the time it enters into a
Cash Management Agreement, is a Lender or an Affiliate of a Lender, in its capacity as a party to such Cash Management Agreement and (ii) HSBC and its Affiliates with respect to Cash Management Services entered into under the Existing Credit
Facility (which for the avoidance doubt shall, subject to Section 9.13, be Cash Management Services under this Agreement). 

“Cash Management Services”: cash management and other services provided to one or more of the Loan Parties by a Cash
Management Bank which may include treasury, depository, return items, overdraft, controlled disbursement, merchant store value cards, e-payables services, electronic funds transfer, interstate depository
network, automatic clearing house transfer (including the Automated Clearing House processing of electronic funds transfers through the direct Federal Reserve Fedline system), merchant services, direct deposit of payroll, business credit card
(including so-called “purchase cards”, “procurement cards” or “p-cards”), credit card processing services, debit cards, stored value cards,
and check cashing services identified in such Cash Management Bank’s various cash management services or other similar agreements (each, a “Cash Management Agreement”). 

“Casualty Event”: any damage to or any destruction of, or any condemnation or other taking by any Governmental
Authority of any property of the Loan Parties. 
 “Certificated Securities”: as defined in
Section 4.19(a). 
 “Change of Control”: is (a) at any time, any “person”
or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) shall become the “beneficial owner” (as defined in Rules 13(d)-3 and
13(d)-5 under the Exchange Act), directly or indirectly, of fifty percent (50%) or more of the ordinary voting power for the election of directors of Borrower (determined on a fully diluted basis) other than
by the sale of Borrower’s equity securities in a public offering or to venture capital or private equity investors so long as Borrower identifies to the Administrative Agent (which shall promptly notify the Lenders) the venture capital or
private equity investors at least seven (7) Business Days prior to the closing of the transaction and provides to the Administrative Agent (which shall promptly notify the Lenders) a description of the material terms of the transaction;
(b) during any period of 12 consecutive months, a majority of the members of the board of directors or other equivalent governing body of Borrower cease to be composed of individuals (i) who were members of that board or equivalent
governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or
nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above
constituting at the time of such election or nomination at least a majority of that board or equivalent governing body; or (c) at any time, Borrower shall cease to own and control, of record and beneficially, directly or indirectly, one hundred
percent (100%) of each class of outstanding capital stock of each Subsidiary of Borrower free and clear of all Liens (except Liens created by this Agreement); provided that, with respect to (i) UiPath Robotic Process Automation India
Private Limited, (ii) UiPath Business Solutions India Private Limited, and (iii) any other Subsidiary formed in a jurisdiction where a law, rule or regulation of such jurisdiction restricts Borrower from owning and controlling, of record
and beneficially, directly or indirectly, one hundred percent (100%) of each class of outstanding capital stock of such Subsidiary, in each case, this clause (c) shall not apply so long as (x) Borrower owns and controls

  
 6 

 
no less than ninety-nine percent (99%) (or such lesser amount as is required in such jurisdiction) of each class of outstanding capital stock of such Subsidiary free and clear of all Liens
(except Liens created by this Agreement) and (y) Borrower has notified the Lenders of such situation and the limitations of such Subsidiary’s jurisdiction. 

“Churn Rate” is measured on a trailing three (3) month basis, the quotient obtained by dividing the gross Annual
Contract Value lost (unless in connection with any upsell, renewal or replacement (of equal or greater value) of a relevant Contract as indicated by the Borrower and in the discretion of the Administrative Agent) during such three (3) month
period by Annual Contract Value at the beginning of such three (3) month period, expressed as a percentage; Churn Rate shall be calculated by the Administrative Agent based on information provided by Borrower and acceptable to the
Administrative Agent, in their reasonable determination, monthly, on the last day of each such three (3) month period, provided that there shall be no requirement to do so before the fifteenth
(15th) day of the relevant month. 
 “Closing Date”: the date
on which all of the conditions precedent set forth in Section 5.1 are satisfied or waived by the Administrative Agent and, as applicable, the Lenders or the Required Lenders. 

“Code”: the Internal Revenue Code of 1986, as amended from time to time. 

“Collateral”: has the definition set forth in the Guarantee and Collateral Agreement or any other Security Document.

 “Collateral-Related Expenses”: all costs and expenses of the Administrative Agent paid or incurred in connection
with any sale, collection or other realization on the Collateral, including reasonable compensation to the Administrative Agent and its agents and counsel, and reimbursement for all other costs, expenses and liabilities and advances made or incurred
by the Administrative Agent in connection therewith (including as described in Section 6.6 of the Guarantee and Collateral Agreement), and all amounts for which the Administrative Agent is entitled to indemnification under the Security
Documents and all advances made by the Administrative Agent under the Security Documents for the account of any Loan Party. 

“Commitment”: as to any Lender, the sum of its Revolving Commitment. 

“Commitment Fee Rate”: 0.25% per annum. 

“Commodity Exchange Act”: the Commodity Exchange Act (7 U.S.C. Section 1 et seq.), as amended from time to
time, and any successor statute. 
 “Communications”: as defined in Section 10.2(d)(ii).

 “Compliance Certificate”: a certificate duly executed by a Responsible Officer substantially in the form of
Exhibit B. 
 “Connection Income Taxes”: Other Connection Taxes that are imposed on or
measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Consolidated Current
Liabilities” are the aggregate amount of Total Liabilities that mature within one (1) year, including, without limitation, any interest and principal amounts payable within one (1) year plus without duplication, Total
Liabilities, owed or owing to the Secured Parties under the Loan Documents and Swap Agreements, which mature beyond one (1) year, including, without limitation, any interest and principal payments payable in respect thereof. 

  
 7 

 “Contracts” are software licensing contracts for the UiPath Core
Products executed with customers in the ordinary course of Borrower’s or any of its Subsidiaries’ business. 

“Contractual Obligation”: as to any Person, any provision of any security issued by such Person or of any agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control”: the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Control Agreement”: any account control agreement entered into among the depository institution at which a Loan Party
maintains a Deposit Account or the securities intermediary at which a Loan Party maintains a Securities Account, such Loan Party, and the Administrative Agent pursuant to which the Administrative Agent obtains control (within the meaning of the UCC
or any other applicable law) over such Deposit Account or Securities Account , including without limitation, any similar agreement providing for a Lien on any depository account of a Loan Party in favor of the Administrative Agent under any
applicable foreign law. 
 “Copyrights” are any and all copyright rights, copyright applications, copyright
registrations and like protections in each work of authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret. 

“Debtor Relief Laws”: the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the
benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect. For the avoidance of doubt, any benefit or
program offered by a Governmental Authority with respect to COVID-19 relating to the forgiveness of indebtedness (other than the Obligations) incurred in connection with such benefit or program shall not be
deemed to be a Debtor Relief Law. 
 “Default”: any of the events specified in
Section 8.1, whether or not any requirement for the giving of notice, the lapse of time, or both, has been satisfied. 

“Default Rate”: as defined in Section 2.11(c). 

“Defaulting Lender”: subject to Section 2.20(b), any Lender that (a) has failed to
(i) fund all or any portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the
result of such Lender’s reasonable determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been
satisfied, or (ii) pay to the Administrative Agent, the Issuing Lender, the Swingline Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swingline
Loans) within two (2) Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent, the Issuing Lender or the Swingline Lender in writing that it does not intend to comply with its funding obligations
hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s reasonable determination
that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three (3) Business Days
after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding 

  
 8 

 
obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative
Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) become the subject of a Bail-In
Action, or (iii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the
Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity
interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States
or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the
Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to
Section 2.20(b)) upon delivery of written notice of such determination to the Borrower, the Issuing Lender, the Swingline Lender and each Lender. 

“Deferred Revenue”: all amounts received or invoiced in advance of performance under contracts and not yet recognized
as revenue. 
 “Deposit Account”: any “deposit account” as defined in the UCC with such additions to such
term as may hereafter be made. 
 “Deposit Account Control Agreement”: any Control Agreement entered into by the
Administrative Agent, a Loan Party and a financial institution holding a Deposit Account of such Loan Party pursuant to which the Administrative Agent is granted “control” (for purposes of the UCC) over such Deposit Account. 

“Designated Jurisdiction”: any country or territory to the extent that such country or territory itself is the subject
of any Sanction. 
 “Determination Date”: as defined in the definition of “Pro Forma Basis”. 

“Discharge of Obligations”: subject to Section 10.8, the satisfaction of the Obligations
(including all such Obligations for credit extended under any Cash Management Agreement) by the payment in full, in cash (or, as applicable, Cash Collateralization in accordance with the terms hereof) of the principal of and interest on or other
liabilities relating to each Loan and any credit extended under Cash Management Agreements, all fees and all other expenses or amounts then due and payable under any Loan Document (other than inchoate indemnification obligations and any other
obligations which pursuant to the terms of any Loan Document specifically survive repayment of the Loans for which no claim has been made), and other Obligations under or in respect of Specified Swap Agreements or Letters of Credit.  
 “Disposition”: with respect to any property (including,
without limitation, Capital Stock of the Borrower or any of its Subsidiaries), any sale, lease, Sale Leaseback Transaction, assignment, conveyance, transfer, encumbrance or other disposition thereof and any issuance of Capital Stock of the Borrower
or any of its Subsidiaries. The terms “Dispose” and “Disposed of” shall have correlative meanings. 

“Disqualified Stock”: any Capital Stock that, by its terms (or by the terms of any security into which it is
convertible, or for which it is exchangeable, in each case at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund 

  
 9 

 
obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is ninety-one (91) days
after the date on which the Loans mature. The amount of Disqualified Stock deemed to be outstanding at any time for purposes of this Agreement will be the maximum amount that the Borrower and its Subsidiaries may become obligated to pay upon
maturity of, or pursuant to any mandatory redemption provisions of, such Disqualified Stock or portion thereof, plus accrued dividends. 

“Division”: in reference to any Person which is an entity, the division of such Person into two (2) or more
separate Persons, with the dividing Person either continuing or terminating its existence as part of such division, including as contemplated under Section 18-217 of the Delaware Limited Liability Company
Act, or any analogous action taken pursuant to any other applicable Requirements of Law. 
 “Dollars” and
“$”: dollars in lawful currency of the United States. 
 “Dollar Equivalent” is, at any
time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in a currency other than Dollars, the equivalent amount therefor in Dollars as determined by the Administrative Agent
and Issuing Lender at such time on the basis of the then-prevailing rate of exchange in San Francisco, California, for sales of the Foreign Currency for transfer to the country issuing such Foreign Currency. 

“Domestic Subsidiary”: any Subsidiary of the Borrower organized under the laws of any jurisdiction within the United
States. 
 “EEA Financial Institution”: (a) any credit institution or investment firm established in any EEA Member
Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial
institution established in an EEA Member Country which is a Subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

“EEA Member Country”: any of the member states of the European Union, Iceland, Liechtenstein, and Norway. 

“EEA Resolution Authority”: any public administrative authority or any person entrusted with public administrative
authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Eligible Assignee”: any Person that meets the requirements to be an assignee under
Section 10.6(b)(iii), (v) and (vi) (subject to such consents, if any, as may be required under Section 10.6(b)(iii)). 

“Eligible Software License Contracts” are binding Contracts yielding revenue recognized during the term of such
Contract in accordance with GAAP and which arise in the ordinary course of Borrower’s or any of its other Group Members’ business, provided, that standards of eligibility may be fixed and revised from time to time by the Required
Lenders in their sole but reasonable judgment and upon notification thereof to Borrower in accordance with the provisions hereof. Unless otherwise agreed to by the Required Lenders, Eligible Software License Contracts shall not include the
following: 
 (a) Contracts for which the customer thereunder has failed to pay to Borrower or another Group Member, as applicable, any
amounts due to Borrower or such other Group Member, as applicable, under any of such Contracts within ninety (90) days from the earlier of the (i) invoice date or (ii) implementation of the UiPath Core Products (unless in connection
with any upsell, renewal or replacement (of equal or greater value) of a relevant Contract for which a letter of intent for such Customer contract has been executed and is not more than 60 days old); 

  
 10 

 (b) Contracts which the customer thereunder has elected to cancel or has failed to renew
within the time period prescribed in such Contracts unless and until customer subsequently notifies Borrower or the other Group Members, as applicable, that it has elected to re-start or renew such Contracts;
or 
 (c) Contracts with respect to which the customer is subject, to the best of the Borrower’s or Lenders’ knowledge, to an
Insolvency Proceeding, or becomes insolvent, or goes out of business; 
 (d) Contracts of Borrower that are not subject to first priority
Liens in favor of Administrative Agent; or 
 (e) Contracts of Borrower for which the customer has not yet implemented the UiPath Core
Products regardless of whether such services have been invoiced or payments received. 
 “Environmental Laws”: any
and all foreign, Federal, state, local or municipal laws, rules, orders, regulations, statutes, ordinances, codes, decrees, requirements of any Governmental Authority or other Requirements of Law (including common law) regulating, relating to or
imposing liability or standards of conduct concerning protection of human health or the environment, as now or may at any time hereafter be in effect. 

“Environmental Liability”: any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of the Borrower, any other Loan Party or any of their respective Subsidiaries directly or indirectly resulting from or based upon (a) a violation of an Environmental Law, (b) the
generation, use, handling, transportation, storage, treatment or disposal of any Materials of Environmental Concern, (c) exposure to any Materials of Environmental Concern, (d) the release or threatened release of any Materials of
Environmental Concern into the environment, or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“ERISA”: the Employee Retirement Income Security Act of 1974, as amended, including (unless the context otherwise
requires) any rules or regulations promulgated thereunder. 
 “ERISA Affiliate”: each business or entity which is,
or within the last six years was, a member of a “controlled group of corporations,” under “common control” or an “affiliated service group” with any Loan Party within the meaning of Section 414(b), (c), (m) or
(n) of the Code, required to be aggregated with any Loan Party under Section 414(o) of the Code, or is, or within the last six years was, under “common control” with any Loan Party, within the meaning of Section 4001(a)(14)
of ERISA. 
 “ERISA Event”: any of the following to the extent the same results in a claim against or potential
liability of the Borrower or any ERISA Affiliate in excess of $250,000 in the aggregate, (a) a reportable event as defined in Section 4043 of ERISA with respect to a Pension Plan, excluding, however, such events as to which the PBGC by
regulation has waived the requirement of Section 4043(a) of ERISA that it be notified within 30 days of the occurrence of such event; (b) the applicability of the requirements of Section 4043(b) of ERISA with respect to a contributing
sponsor, as defined in Section 4001(a)(13) of ERISA, to any Pension Plan where an event described in paragraph (9), (10), (11), (12) or (13) of Section 4043(c) of ERISA is reasonably expected to occur with respect to such plan within
the following 30 days; (c) a withdrawal by any Loan Party or any ERISA Affiliate thereof from a Pension Plan or the 

  
 11 

 
termination of any Pension Plan resulting in liability under Sections 4063 or 4064 of ERISA; (d) the withdrawal of any Loan Party or any ERISA Affiliate thereof in a complete or partial
withdrawal (within the meaning of Section 4203 and 4205 of ERISA) from any Multiemployer Plan if there is any potential liability therefore, or the receipt by any Loan Party or any ERISA Affiliate thereof of notice from any Multiemployer Plan
that it is in reorganization or insolvency pursuant to Section 4241 or 4245 of ERISA; (e) the filing of a notice of intent to terminate, the treatment of a plan amendment as a termination under Section 4041 or 4041A of ERISA, or the
commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (f) the imposition of liability on any Loan Party or any ERISA Affiliate thereof pursuant to Sections 4062(e) or 4069 of ERISA or by reason of the
application of Section 4212(c) of ERISA; (g) the failure by any Loan Party or any ERISA Affiliate thereof to make any required contribution to a Pension Plan, or the failure to meet the minimum funding standard of Section 412 of the
Code with respect to any Pension Plan (whether or not waived in accordance with Section 412(c) of the Code) or the failure to make by its due date a required installment under Section 430 of the Code with respect to any Pension Plan or the
failure to make any required contribution to a Multiemployer Plan; (h) the determination that any Pension Plan is considered an at-risk plan or a plan in endangered to critical status within the meaning
of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; (i) an event or condition which might reasonably be expected to constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a
trustee to administer, any Pension Plan or Multiemployer Plan; (j) the imposition of any liability under Title I or Title IV of ERISA, other than PBGC premiums due but not delinquent under Section 4007 of ERISA, upon any Loan Party or
any ERISA Affiliate thereof; (k) an application for a funding waiver under Section 303 of ERISA or an extension of any amortization period pursuant to Section 412 of the Code with respect to any Pension Plan; (l) the occurrence
of a non-exempt prohibited transaction under Sections 406 or 407 of ERISA for which any Loan Party or any Subsidiary thereof may be directly or indirectly liable; (m) a violation of the applicable
requirements of Section 404 or 405 of ERISA or the exclusive benefit rule under Section 401(a) of the Code by any fiduciary or disqualified person for which any Loan Party or any ERISA Affiliate thereof may be directly or indirectly
liable; (n) the occurrence of an act or omission which could give rise to the imposition on any Loan Party or any ERISA Affiliate thereof of fines, penalties, taxes or related charges under Chapter 43 of the Code or under Sections 409, 502(c),
(i) or (1) or 4071 of ERISA; (o) the assertion of a material claim (other than routine claims for benefits) against any Plan or the assets thereof, or against any Loan Party or any Subsidiary thereof in connection with any such Plan;
(p) receipt from the IRS of notice of the failure of any Qualified Plan to qualify under Section 401(a) of the Code, or the failure of any trust forming part of any Qualified Plan to fail to qualify for exemption from taxation under
Section 501(a) of the Code; (q) the imposition of any lien (or the fulfillment of the conditions for the imposition of any lien) on any of the rights, properties or assets of any Loan Party or any ERISA Affiliate thereof, in either case
pursuant to Title I or IV of ERISA, including Section 302(f) or 303(k) of ERISA or to Section 401(a)(29) or 430(k) of the Code; (r) noncompliance with any requirement of Section 409A or 457 of the Code; (s) a violation
of the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), the Health Insurance Portability and Accountability Act of 1996 (HIPPA) and the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of
2010 (ACA); or (t) the establishment or amendment by an Loan Party or any Subsidiary thereof of any “welfare plan” as such term is defined in Section 3(1) of ERISA, that provides post-employment welfare benefits in a manner that
would increase the liability of any Loan Party. 
 “ERISA Funding Rules”: the rules regarding minimum required
contributions (including any installment payment thereof) to Pension Plans, as set forth in Section 412 of the Code and Section 302 of ERISA, with respect to Plan years ending prior to the effective date of the Pension Protection Act of
2006, and thereafter, as set forth in Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 

“Eurocurrency Reserve Requirements”: for any day as applied to a Eurodollar Loan, the aggregate

  
 12 

 
(without duplication) of the maximum rates (expressed as a decimal fraction) of reserve requirements in effect on such day (including basic, supplemental, marginal and emergency reserves) under
any regulations of the Board or other Governmental Authority having jurisdiction with respect thereto dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation
D of the Board) maintained by a member bank of the Federal Reserve System. 
 “Eurodollar Base Rate”: with respect
to each day during each Interest Period pertaining to a Eurodollar Loan, the rate per annum determined by the Administrative Agent by reference to the ICE Benchmark Administration London Interbank Offered Rate (“LIBOR”) (or
any successor thereto if the ICE Benchmark Administration is no longer making LIBOR available) for deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period in Dollars, determined as of
approximately 11:00 A.M. (London, England time) two (2) Business Days prior to the beginning of such Interest Period (as set forth by Bloomberg Information Service or any successor thereto or any other commercially available service selected by
the Administrative Agent which provides quotations of LIBOR); provided that the Eurodollar Base Rate shall not be less than 1.00%. In the event that the Administrative Agent determines that LIBOR is not available, the “Eurodollar Base
Rate” shall be determined by reference to the rate per annum equal to the offered quotation rate to first class banks in the London interbank market by SVB for deposits (for delivery on the first day of the relevant Interest Period) in Dollars
of amounts in same day funds comparable to the principal amount of the applicable Loan of the Administrative Agent, in its capacity as a Lender, for which the Eurodollar Base Rate is then being determined with maturities comparable to such period,
as of approximately 11:00 A.M. (London, England time) two (2) Business Days prior to the beginning of such Interest Period; provided that, in all events, such Eurodollar Base Rate shall not be less than 1.00%. 

“Eurodollar Loans”: Loans the rate of interest applicable to which is based upon the Eurodollar Rate. 

“Eurodollar Rate”: with respect to each day during each Interest Period pertaining to a Eurodollar Loan, a rate per
annum determined for such day in accordance with the following formula: 
  

					
		 	Eurodollar Base Rate	 	
		 	  
 1.00 -
Eurocurrency Reserve Requirements
	 	

 The Eurodollar Rate shall be adjusted automatically as of the effective date of any change in the Eurocurrency
Reserve Requirements; provided that the Eurodollar Rate shall not be less than 1.00%. 
 “Eurodollar
Tranche”: the collective reference to Eurodollar Loans under a particular Facility (other than the L/C Facility), the then current Interest Periods with respect to all of which begin on the same date and end on the same later date
(whether or not such Loans shall originally have been made on the same day). 
 “EU
Bail-In Legislation Schedule”: the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from
time to time. 
 “Event of Default”: any of the events specified in Section 8.1;
provided that any requirement for the giving of notice, the lapse of time, or both, has been satisfied. 
 “Exchange
Act”: the Securities Exchange Act of 1934, as amended from time to time and any successor statute. 

  
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 “Excluded Foreign Subsidiary”: any Foreign Subsidiary, only to the
extent and for such period of time, for which (A) Borrower and Administrative Agent mutually agree (not to be unreasonably withheld or delayed) that (i) the grant of a continuing pledge and security interest in and to the assets of any
such Foreign Subsidiary, (ii) the guaranty of the Obligations of the Borrower by such Foreign Subsidiary and/or (iii) the pledge by Borrower of a perfected security interest in one hundred percent (100%) of the Capital Stock of each
Foreign Subsidiary, would reasonably be expected to have a material adverse tax effect on Borrower, (in which case the Borrower shall only be required to grant and pledge to the Administrative Agent a perfected security interest in up to sixty-five
percent (65%) of the voting Capital Stock and one hundred percent (100%) of the non-voting Capital Stock, in each case, of such Foreign Subsidiary) or (B) the Administrative Agent may determine in its
sole discretion that the requirements set forth in this definition shall not be required to be satisfied with regard to such Foreign Subsidiary. As of the Closing Date each of UiPath Netherlands Holding BV and UiPath SRL is an Excluded Foreign
Subsidiary. 
 “Excluded Swap Obligations”: with respect to any Guarantor, any Swap Obligation if, and to the extent
that, all or a portion of the Guarantee Obligation of such Guarantor with respect to, or the grant by such Guarantor of a Lien to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any
rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant”
as defined in the Commodity Exchange Act at the time such Guarantee Obligation of such Guarantor, or the grant by such Guarantor of such Lien, becomes effective with respect to such Swap Obligation. If such a Swap Obligation arises under a master
agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guarantee Obligation or Lien is or becomes excluded in accordance with the first sentence of
this definition. 
 “Excluded Taxes”: any of the following Taxes imposed on or with respect to a Recipient or
required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient
being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other
Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date
on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 2.19) or (ii) such Lender changes its lending office, except in
each case to the extent that, pursuant to Section 2.16, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender
immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s failure to comply with Section 2.16(f) and (d) any U.S. federal withholding Taxes imposed under FATCA. 

“Existing Agent”: HSBC. 

“Existing Credit Facility”: that certain Amended and Restated Loan and Security Agreement entered into as of
January 14, 2020 by and between Existing Agent, Existing Lenders and Borrower. 
 “Existing Lenders”: HSBC
Ventures USA Inc., and Silicon Valley Bank. 
 “Existing Letters of Credit”: the letters of credit described on
Schedule 1.1B. 
 “Facility”: each of (a) the Revolving Facility, (b) the L/C Facility (which is a sub-facility of the Revolving Facility) and (c) the Swingline Facility (which is a sub-facility of the Revolving Facility). 

  
 14 

 “FASB ASC”: the Accounting Standards certification of the Financial
Accounting Standards Board. 
 “FATCA”: Sections 1471 through 1474 of the Code, as of the date of this Agreement (or
any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b)(1)
of the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code. 

“Federal Funds Effective Rate”: for any day, the weighted average of the rates on overnight federal funds transactions
with members of the Federal Reserve System, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for the day
of such transactions received by SVB from three federal funds brokers of recognized standing selected by it. 
 “Fee
Letter”: the letter agreement dated as of the July 1, 2020, between the Borrower and the Administrative Agent. 

“Flow of Funds Agreement”: the spreadsheet or other similar statement prepared and certified by the Borrower,
regarding the funding and the payment of the fees and expenses of the Administrative Agent and the Lenders (including their respective counsel), and such other matters as may be agreed to by the Borrower, the Administrative Agent and the Lenders.

 “Foreign Currency”: lawful money of a country other than the United States. 

“Foreign Government Scheme or Arrangement” as defined in Section 4.14(b). 

“Foreign Lender”: (a) if the Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if the
Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. 

“Foreign Plan” as defined in Section 4.14(b). 

“Foreign Subsidiary”: any Subsidiary of the Borrower that is not a Domestic Subsidiary. 

“Fronting Exposure”: at any time there is a Defaulting Lender, as applicable, (a) with respect to the Issuing
Lender, such Defaulting Lender’s L/C Percentage of the outstanding L/C Exposure other than L/C Exposure as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in
accordance with the terms hereof, and (b) with respect to the Swingline Lender, such Defaulting Lender’s Revolving Percentage of outstanding Swingline Loans made by the Swingline Lender other than Swingline Loans as to which such
Defaulting Lender’s participation obligation has been reallocated to other Lenders. 
 “Fund”: any Person
(other than a natural Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions of credit in the ordinary course of its activities. 

“GAAP”: generally accepted accounting principles in the United States as in effect from time to time, except that for
purposes of Section 7.1, GAAP shall be determined on the basis of such principles in effect on the date hereof and consistent with those used in the preparation of the most recent audited

  
 15 

 
financial statements referred to in Section 4.1(b). In the event that any “Accounting Change” (as defined below) shall occur and such change
results in a change in the method of calculation of any financial covenant, standards or terms in this Agreement, then the Borrower and the Administrative Agent agree to enter into negotiations to amend such provisions of this Agreement so as to
reflect equitably such Accounting Changes with the desired result that the criteria for evaluating the Borrower’s financial condition shall be the same after such Accounting Changes as if such Accounting Changes had not been made. Until such
time as such an amendment shall have been executed and delivered by the Borrower and the Administrative Agent, all financial covenants, standards and terms in this Agreement shall continue to be calculated or construed as if such Accounting Changes
had not occurred. “Accounting Changes” refers to changes in accounting principles required by the promulgation of any rule, regulation, pronouncement or opinion by the Financial Accounting Standards Board of the American
Institute of Certified Public Accountants or, if applicable, the SEC, or the adoption of IFRS. 
 “Governmental
Approval”: any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority.

 “Governmental Authority”: the government of the United States of America or any other nation, or of any political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank), and any group or body charged with setting accounting or regulatory capital rules or standards (including the Financial Standards
Board, the Bank for International Settlements, the Basel Committee on Banking Supervision and any successor or similar authority to any of the foregoing). 

“Group Members”: the collective reference to the Borrower and its Subsidiaries. 

“Guarantee and Collateral Agreement”: the Guarantee and Collateral Agreement to be executed and delivered by the
Borrower and each Guarantor, substantially in the form of Exhibit A. 
 “Guarantee
Obligation”: as to any Person (the “guaranteeing person”), any obligation, including a reimbursement, counterindemnity or similar obligation, of the guaranteeing person that guarantees or in effect guarantees, or
which is given to induce the creation of a separate obligation by another Person (including any bank under any letter of credit) that guarantees or in effect guarantees, any Indebtedness, leases, dividends or other obligations (the
“primary obligations”) of any other third Person (the “primary obligor”) in any manner, whether directly or indirectly, including any obligation of the guaranteeing person, whether or not contingent,
(i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (1) for the purchase or payment of any such primary obligation or (2) to maintain
working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, securities or services primarily for the purpose of assuring the owner of any such
primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such primary obligation against loss in respect thereof; provided that the
term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business. The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower of (a) an
amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the
instrument embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are not stated or determinable, in which case the amount of such Guarantee Obligation shall be
such guaranteeing person’s maximum reasonably anticipated liability in respect thereof as determined by the Borrower in good faith. 

  
 16 

 “Guarantors”: a collective reference to each Subsidiary of the
Borrower which has become a Guarantor pursuant to the requirements of Section 6.12 hereof and the Guarantee and Collateral Agreement. Notwithstanding the foregoing or any contrary provision herein or in any other Loan
Document, no Immaterial Subsidiary or Excluded Foreign Subsidiary shall be a Guarantor, in each case only for so long as such Subsidiaries remain an Immaterial Subsidiary or Excluded Foreign Subsidiary, as the case may be. 

“HSBC”: HSBC Bank USA, N.A. and its permitted successors and permitted assigns. 

“IFRS”: international accounting standards within the meaning of IAS Regulation 1606/2002 to the extent applicable to
the relevant financial statements delivered under or referred to herein. 
 “Immaterial Subsidiary”: is any
Subsidiary of the Borrower which (only to the extent and for such period of time) is not a Relevant Subsidiary. 

“Increase”: as defined in Section 2.21. 

“Increase Joinder”: an instrument, in form and substance reasonably satisfactory to the Administrative Agent, by which
a Lender becomes a party to this Agreement pursuant to Section 2.21. 
 “Incurred”: as
defined in the definition of “Pro Forma Basis”. 
 “Indebtedness”: of any Person at any date, without
duplication, (a) all indebtedness of such Person for borrowed money, (b) all obligations of such Person for the deferred purchase price of property or services (other than current trade payables incurred in the ordinary course of such
Person’s business), (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness created or arising under any conditional sale or other title retention agreement with respect
to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) all Capital Lease Obligations and all Synthetic
Lease Obligations of such Person, (f) all obligations of such Person, contingent or otherwise, as an account party or applicant under or in respect of acceptances, letters of credit, surety bonds or similar arrangements, (g) all
obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Capital Stock in such Person or any other Person (including, without limitation, Disqualified Stock), or any warrant, right or option to
acquire such Capital Stock, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends, (h) all Guarantee Obligations of such Person in
respect of obligations of the kind referred to in clauses (a) through (g) above, (i) all obligations of the kind referred to in clauses (a) through (h) above secured by (or for which the holder of such obligation has an existing
right, contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights) owned by such Person, whether or not such Person has assumed or become liable for the payment of such obligation, and (j) the net
obligations of such Person in respect of Swap Agreements. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable
therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness expressly provide that such Person is not liable therefor. 

“Indemnified Taxes”: (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on
account of any obligation of any Loan Party under this Agreement or any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. 

  
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 “Indemnitee”: as defined in
Section 10.5(b). 
 “Insolvency Proceeding”: (a) any case, action or proceeding
before any court or other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors, or (b) any general assignment
for the benefit of creditors, composition, marshalling of assets for creditors, or other, similar arrangement in respect of any Person’s creditors generally or any substantial portion of such Person’s creditors, in each case undertaken
under U.S. Federal, state or foreign law, including any Debtor Relief Law. 
 “Intellectual Property” is, with
respect to any Person, all of such Person’s right, title, and interest in and to the following: 
  

	 	(i)	 its Copyrights, Trademarks and Patents; 

 

	 	(ii)	 any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented
inventions, know-how and operating manuals; 

  

	 	(iii)	 any and all source code; 

 

	 	(iv)	 any and all design rights which may be available to such Person; 

 

	 	(v)	 any and all claims for damages by way of past, present and future infringement or impairment of any of the
foregoing, with the right, but not the obligation, to sue for and collect such damages for said use, infringement or impairment of the Intellectual Property rights identified above; and 

 

	 	(vi)	 all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents. 

“Interest Payment Date”: (a) as to any ABR Loan (including any Swingline Loan), the first Business Day of each
calendar month to occur while such Loan is outstanding and the final maturity date of such Loan, (b) as to any Eurodollar Loan having an Interest Period of three (3) months or less, the last Business Day of such Interest Period,
(c) as to any Eurodollar Loan having an Interest Period longer than three (3) months, each day that is three (3) months (or, if such date is not a Business Day, the Business Day next succeeding such date) after the first day of such
Interest Period and the last Business Day of such Interest Period, and (d) as to any Loan (other than any Revolving Loan that is an ABR Loan and any Swingline Loan), the date of any repayment or prepayment made in respect thereof. 

“Interest Period”: as to any Eurodollar Loan, (a) initially, the period commencing on the borrowing or conversion
date, as the case may be, with respect to such Eurodollar Loan and ending one (1), three (3) or six (6) months thereafter, as selected by the Borrower in its Notice of Borrowing or Notice of Conversion/Continuation, as the case may be,
given with respect thereto; and (b) thereafter, each period commencing on the last day of the next preceding Interest Period applicable to such Eurodollar Loan and ending one (1), three (3) or six (6) months thereafter, as selected by
the Borrower by irrevocable notice to the Administrative Agent in a Notice of Conversion/Continuation not later than 10:00 A.M. on the date that is three (3) Business Days prior to the last day of the then current Interest Period with respect
thereto; provided that all of the foregoing provisions relating to Interest Periods are subject to the following: 
 (i) if any
Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar
month in which event such Interest Period shall end on the immediately preceding Business Day; 

  
 18 

 (ii) the Borrower may not select an Interest Period that would extend beyond the Revolving
Termination Date; 
 (iii) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of a calendar month; and 

(iv) the Borrower shall select Interest Periods so as not to require a payment or prepayment of any Eurodollar Loan during an Interest Period
for such Loan. 
 “Interest Rate Agreement”: any interest rate swap agreement, interest rate cap agreement, interest
rate collar agreement, interest rate hedging agreement or other similar agreement or arrangement, each of which is (a) for the purpose of hedging the interest rate exposure associated with the Borrower’s and its Subsidiaries’
operations, and (b) not for speculative purposes. 
 “Inventory”: all “inventory,” as defined in the
UCC, in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products,
including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 

“Investments”: as defined in Section 7.8. 

“IRS”: the Internal Revenue Service, or any successor thereto. 

“ISP”: with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance). 

“Issuing Lender”: as the context may require, (a) SVB or any Affiliate thereof, in its capacity as issuer of any
Letter of Credit, (b) HSBC or any Affiliate thereof, in its capacity as issuer of the Existing Letters of Credit and (c) any other Lender that may become an Issuing Lender pursuant to Section 3.11 or 3.12,
with respect to Letters of Credit issued by such Lender. The Issuing Lender may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Lender or other financial institutions, in which case the term
“Issuing Lender” shall include any such Affiliate or other financial institution with respect to Letters of Credit issued by such Affiliate or other financial institution. 

“Issuing Lender Fees”: as defined in Section 3.3(a). 

“Judgment Currency”: as defined in Section 10.19. 

“Key Person” is Daniel Dines. 

“L/C Advance”: each L/C Lender’s funding of its participation in any L/C Disbursement in accordance with its L/C
Percentage. 
 “L/C Commitment”: as to any L/C Lender, the obligation of such L/C Lender, if any, to purchase an
undivided interest in the Issuing Lenders’ obligations and rights under and in respect of each Letter of Credit (including to make payments with respect to draws made under any Letter of Credit pursuant to
Section 3.5(b)) in an aggregate Dollar Equivalent principal amount not to exceed the amount set forth under the heading “L/C Commitment” opposite such L/C Lender’s name on Schedule 1.1A or in the
Assignment 

  
 19 

 
and Assumption pursuant to which such L/C Lender becomes a party hereto, as the same may be changed from time to time pursuant to the terms hereof. The L/C Commitment is a sublimit of the
Revolving Commitment and the aggregate amount of the L/C Commitments shall not exceed the amount of the Total L/C Commitments at any time. 

“L/C Disbursements”: a payment or disbursement made by the Issuing Lender pursuant to a Letter of Credit. 

“L/C Exposure”: at any time, the sum of (a) the aggregate undrawn Dollar Equivalent amount of all outstanding
Letters of Credit at such time, and (b) the aggregate Dollar Equivalent amount of all L/C Disbursements that have not yet been reimbursed by Borrower or converted into Revolving Loans at such time. The L/C Exposure of any L/C Lender at any time
shall equal its L/C Percentage of the aggregate L/C Exposure at such time. 
 “L/C Facility”: the L/C Commitments
and the extensions of credit made thereunder. 
 “L/C Fee Payment Date”: as defined in
Section 3.3(a). 
 “L/C Lender”: a Lender with an L/C Commitment. 

“L/C Percentage”: as to any L/C Lender at any time, the percentage of the Total L/C Commitments represented by such
L/C Lender’s L/C Commitment, as such percentage may be adjusted as provided in Section 2.19. 
 “L/C-Related Documents”: collectively, each Letter of Credit (including any Existing Letter of Credit), all applications for any Letter of Credit (and applications for the amendment of any Letter of
Credit) submitted by the Borrower to the Issuing Lender and any other document, agreement and instrument relating to any Letter of Credit, including any of the Issuing Lender’s standard form documents for letter of credit issuances. 

“Lenders”: as defined in the preamble hereto; provided that unless the context otherwise requires, each
reference herein to the Lenders shall be deemed to include the L/C Lenders, the Issuing Lender and the Swingline Lender. 

“Letter of Credit”: as defined in Section 3.1(a); provided that such term shall
include each Existing Letter of Credit. 
 “Letter of Credit Availability Period”: the period from and including the
Closing Date to but excluding the Letter of Credit Maturity Date. 
 “Letter of Credit Fees”: as defined in
Section 3.3(a). 
 “Letter of Credit Fronting Fees”: as defined in
Section 3.3(a). 
 “Letter of Credit Maturity Date”: the date occurring 15 days prior to
the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day). 

“LIBOR”: as defined in the definition of “Eurodollar Base Rate.” 

“Lien”: any mortgage, deed of trust, pledge, hypothecation, collateral assignment, deposit arrangement, encumbrance,
lien (statutory or other), charge or other security interest or any preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement and
any capital lease having substantially the same economic effect as any of the foregoing). 

  
 20 

 “Liquidity”: at any time, the sum of (a) the aggregate
amount of unrestricted cash and Cash Equivalents held at such time by any Loan Party in Deposit Accounts or Securities Accounts subject to Control Agreements in favor of the Administrative Agent, and (b) the Available Revolving Commitment at
such time. 
 “Loan”: any loan made or maintained by any Lender pursuant to this Agreement. 

“Loan Documents”: this Agreement, each Security Document, each Note, the Fee Letter, each Compliance Certificate, each
Borrowing Base Certificate, each Notice of Borrowing, each Notice of Conversion/Continuation, the Solvency Certificate, the Perfection Certificate, each L/C-Related Document, and any agreement creating or
perfecting rights in cash collateral pursuant to the provisions of Section 3.10, or otherwise, and any amendment, waiver, supplement or other modification to any of the foregoing. 

“Loan Parties”: each Group Member that is a party to this Agreement or any Loan Document, as a Borrower or a
Guarantor. 
 “Material Adverse Effect”: (a) a material adverse change in, or a material adverse effect on, the
operations, business, properties, liabilities (actual or contingent), or condition (financial or otherwise) of the Borrower and its Subsidiaries, taken as a whole; (b) a material impairment of the rights and remedies of the Administrative Agent
or any Lender under any Loan Document, or of the ability of the Borrower or any Loan Party to perform its respective obligations under any Loan Document to which it is a party; or (c) a material adverse effect upon the legality, validity,
binding effect or enforceability against the Borrower or any Loan Party of this Agreement or any Security Document to which it is a party or a material impairment in the perfection or priority of the Administrative Agent’s lien in the
collateral or in the value of such collateral. 
 “Materials of Environmental Concern”: any substance, material or
waste that is defined, regulated, governed or otherwise characterized under any Environmental Law as hazardous or toxic or as a pollutant or contaminant (or by words of similar meaning and regulatory effect), any petroleum or petroleum products,
asbestos, polychlorinated biphenyls, urea-formaldehyde insulation, molds or fungus, and radioactivity, radiofrequency radiation at levels known to be hazardous to human health and safety. 

“Minority Lender”: as defined in Section 10.1(b). 

“Moody’s”: Moody’s Investors Service, Inc. 

“Monthly Contract Value” is measured on a trailing one (1) month basis, the quotient obtained by dividing the
Annual Contract Value as of the most recently ended month by twelve. 
 “Mortgaged Properties”: the real properties
as to which, pursuant to Section 6.12(b) or otherwise, the Administrative Agent, for the benefit of the Secured Parties, shall be granted a Lien pursuant to the Mortgages. 

“Mortgages”: each of the mortgages, deeds of trust, deeds to secure debt or such equivalent documents hereafter
entered into and executed and delivered by one or more of the Loan Parties to the Administrative Agent, in each case, as such documents may be amended, amended and restated, supplemented or otherwise modified, renewed or replaced from time to time
and in form and substance reasonably acceptable to the Administrative Agent. 

  
 21 

 “Multiemployer Plan”: a “multiemployer plan” (within the
meaning of Section 3(37) of ERISA) to which any Loan Party or any ERISA Affiliate thereof makes, is making, or is obligated or has ever been obligated to make, contributions. 

“Non-Consenting Lender”: any Lender that does not approve any consent, waiver
or amendment that (a) requires the approval of all Affected Lenders in accordance with the terms of Section 10.1 and (b) has been approved by the Required Lenders. 

“Non-Defaulting Lender”: at any time, each Lender that is not a Defaulting
Lender at such time. 
 “Non-Formula Period”: provided no Event of Default
has occurred and is continuing, the period (a) beginning on the first (1st) day in which Liquidity is greater than or equal to 50% of the Total Revolving Commitments (the “Non-Formula Threshold”), and (b) ending on the earlier to occur of (i) the occurrence of an Event of Default, and (ii) the first day thereafter in which the Borrower fails to maintain the
Non-Formula Threshold. Upon the termination of a Non-Formula Period, the Borrower must maintain the Non-Formula Threshold each
consecutive day for thirty (30) consecutive days prior to entering into a subsequent Non-Formula Period. A Non-Formula Period shall be deemed to exist on the
Closing Date. 
 “Note”: a Revolving Loan Note or a Swingline Loan Note. 

“Notice of Borrowing”: a notice substantially in the form of Exhibit K. 

“Notice of Conversion/Continuation”: a notice substantially in the form of Exhibit L. 

“Obligations”: (a) the unpaid principal of and interest on (including interest accruing after the maturity of the
Loans and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to any Loan Party, whether or not a claim for post-filing or post-petition interest is
allowed or allowable in such proceeding) the Loans and all other obligations and liabilities (including any fees or expenses that accrue after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like
proceeding, relating to any Loan Party, whether or not a claim for post-filing or post-petition interest is allowed or allowable in such proceeding) of the Loan Parties to the Administrative Agent, the Issuing Lender, any other Lender, any
applicable Cash Management Bank, and any Qualified Counterparty party to a Specified Swap Agreement, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or
in connection with, this Agreement, any other Loan Document, any Cash Management Agreement, the Letters of Credit, any Specified Swap Agreement or any other document made, delivered or given in connection herewith or therewith, whether on account of
principal, interest, reimbursement obligations, payment obligations, fees, indemnities, costs, expenses (including all reasonable and documented out-of-pocket fees,
charges and disbursements of counsel to the Administrative Agent, the Issuing Lender, any other Lender, any applicable Cash Management Bank, to the extent that any applicable Cash Management Agreement requires the reimbursement by any applicable
Group Member of any such expenses), and any Qualified Counterparty party to a Specified Swap Agreement that are required to be paid by any Loan Party pursuant any Loan Document, Cash Management Agreement or otherwise, and (b) any obligations of
any other Group Member arising in connection with any Cash Management Agreement. For the avoidance of doubt, the Obligations shall not include (i) any obligations arising under any warrants or other equity instruments issued by any Loan Party
to any Lender, or (ii) solely with respect to any Guarantor that is not a Qualified ECP Guarantor, any Excluded Swap Obligations of such Guarantor. 

  
 22 

 “OFAC”: the Office of Foreign Assets Control of the United States
Department of the Treasury and any successor thereto. 
 “Operating Documents”: for any Person as of any date, such
Person’s constitutional documents, formation documents and/or certificate of incorporation (or equivalent thereof), as certified (if applicable) by such Person’s jurisdiction of formation as of a recent date, and, (a) if such Person
is a corporation, its bylaws or memorandum and articles of association (or equivalent thereof) in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if
such Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing with all current amendments or modifications thereto. 

“Other Connection Taxes”: with respect to any Recipient, Taxes imposed as a result of a present or former connection
between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a
security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

“Other Taxes”: all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that
are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.19). 

“Overadvance”: as defined in Section 2.5. 

“Participant”: as defined in Section 10.6(d). 

“Participant Register”: as defined in Section 10.6(d). 

“Patents” are all patents, patent applications and like protections including without limitation improvements,
divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 

“Patriot Act”: the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism (USA PATRIOT ACT) Act of 2001, Title III of Pub. L. 107-56, signed into law October 26, 2001. 

“Payoff Letter”: a letter, in form and substance satisfactory to the Administrative Agent, dated as of a date on or
prior to the Closing Date and executed by HSBC and the Borrower to the effect that upon receipt by HSBC of the “payoff amount” (however designated) referenced therein, (a) the obligations of the Group Members under the Existing Credit
Facility shall be satisfied in full, (b) the Liens held by the Existing Lender for the benefit of the lenders under the Existing Credit Facility shall terminate without any further action, and (c) the Borrower and the Administrative Agent
(and their respective counsel and such counsels’ agents) shall be entitled to file UCC-3 amendment statements, USPTO releases, USCRO releases and any other releases reasonably necessary to further
evidence the termination of such Liens. 
 “PBGC”: the Pension Benefit Guaranty Corporation, or any successor
thereto. 
 “Pension Plan”: an employee benefit plan (as defined in Section 3(3) of ERISA) other than a
Multiemployer Plan (a) that is or was at any time maintained or sponsored by any Loan Party or any ERISA Affiliate thereof or to which any Loan Party or any ERISA Affiliate thereof has ever made, or was obligated to make, contributions, and
(b) that is or was subject to Section 412 of the Code, Section 302 of ERISA or Title IV of ERISA. 

  
 23 

 “Perfection Certificate”: the Perfection Certificate to be executed
and delivered by the Borrower pursuant to Section 5.1, substantially in the form of Exhibit J. 

“Permitted Acquisition”: means (a) an acquisition between or among the Borrower and/or any of its Subsidiaries,
including intercompany mergers, amalgamations, acquisitions of additional shares/equity in the Subsidiaries through share capital increases, consolidations and combinations among Borrower and/or Subsidiaries; provided that the Borrower is the
surviving entity of any such transaction involving the Borrower, and (b) the formation, purchase or other acquisition by any Group Member of the Capital Stock in a Person that, upon the consummation thereof, will be a Subsidiary (including as a
result of a merger or consolidation) or all or substantially all of the assets of, or assets constituting one or more business units of, any Person; provided that, with respect to each such purchase or other acquisition: 

 

	 	(i)	 the newly-created or acquired Subsidiary (or assets acquired in connection with such asset sale) shall be
(x) in the same or a related line of business as that conducted by the Borrower on the date hereof, or (y) in a business that is ancillary to and in furtherance of the line of business as that conducted by the Borrower on the date hereof;

  

	 	(ii)	 all transactions related to such purchase or acquisition shall be consummated in all material respects in
accordance with all Requirements of Law; 

  

	 	(iii)	 the Borrower shall provide to the Administrative Agent (which shall promptly provide to the Lenders) as soon as
available but in any event not later than seven (7) Business Days after the execution thereof, a copy of any executed purchase agreement or similar agreement with respect to any such purchase or acquisition; 

 

	 	(iv)	 any such newly-created or acquired Subsidiary, or the Loan Party that is the acquirer of assets in connection
with an asset acquisition, shall comply with the requirements of Section 6.12, except to the extent compliance with Section 6.12 is prohibited by
pre-existing Contractual Obligations or Requirements of Law binding on such Subsidiary or its properties; 

  

	 	(v)	 for acquisitions with a purchase price in excess of Twenty Million Dollars ($20,000,000) in cash, Borrower has
provided the Administrative Agent (which shall promptly provide to the Lenders) (A) with written notice of the proposed acquisition at least seven (7) Business Days prior to the anticipated closing date of the proposed acquisition and
(B) prior to the anticipated closing date of the proposed acquisition, with drafts of the acquisition agreement and other material documents relative to the proposed acquisition, final versions thereof being provided as soon as available but
not later than seven (7) Business Days after the closing date of the proposed acquisition; 

  

	 	(vi)	 (x) immediately before and immediately after giving effect to any such purchase or other acquisition, no
Default or Event of Default shall have occurred and be continuing and (y) immediately after giving effect to such purchase or other acquisition, the Borrower and its Subsidiaries shall be in compliance with the covenant set forth in
Section 7.1, based upon financial statements delivered to the Administrative Agent (which shall promptly provide to the Lenders) which give effect, on a Pro Forma Basis, to such acquisition or other purchase;

  
 24 

	 	(vii)	 no Indebtedness is assumed or incurred in connection with any such purchase or acquisition other than
Indebtedness permitted by Section 7.2; 

  

	 	(viii)	 such purchase or acquisition shall not constitute an Unfriendly Acquisition; 

 

	 	(ix)	 immediately after giving effect to such acquisition, Liquidity shall be not less than One Hundred Fifty Million
Dollars ($150,000,000), provided that at least Seventy-Five Million Dollars ($75,000,000) of such amount shall be comprised of cash and Cash Equivalents held in a Deposit Account or Securities Account which is subject to a Control Agreement
or otherwise subject to a perfected security interest in favor of the Administrative Agent and is maintained by a branch office of a depository or securities intermediary located within the United States; 

 

	 	(x)	 each such Permitted Acquisition is of a Person engaged in business activities in which the acquiror is
permitted to engage pursuant to Section 7.17; and 

  

	 	(xi)	 for acquisitions with a purchase price in excess of Twenty Million Dollars ($20,000,000) in cash, the
Administrative Agent (which shall promptly provide to the Lenders) shall have received prior to the proposed acquisition, a certificate signed by a Responsible Officer of Borrower certifying compliance with the foregoing conditions.

 “Permitted Liens” are: 

(a) Liens existing on the Closing Date and shown on the Perfection Certificate or arising under this Agreement, the other Loan Documents and
the Cash Management Agreements; 
 (b) Liens for taxes, fees, assessments or other government charges or levies, either (i) not due or
thereafter payable without any interest or penalty or (ii) being contested in good faith and for which Borrower maintains adequate reserves on Borrower’s books and records, provided that no notice of any such Lien has been filed or
recorded under the Internal Revenue Code of 1986, as amended, and the Treasury Regulations adopted thereunder; 
 (c) purchase money Liens
(i) on equipment acquired or held by Borrower incurred for financing the acquisition of the equipment securing no more than Five Million Dollars ($5,000,000) in the aggregate amount outstanding, or (ii) existing on equipment when acquired,
if the Lien is confined to the property and improvements and the proceeds of the equipment; 
 (d) Liens of carriers, warehousemen,
landlords, mechanics, suppliers, or other Persons that are possessory in nature arising in the ordinary course of business so long as (i) such Liens attach only to Inventory, and (ii) secure liabilities in the aggregate amount not to
exceed Fifty Thousand Dollars ($50,000) which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of
the property subject thereto; 
 (e) Liens to secure payment of workers’ compensation, employment insurance, old-age pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 

(f) Liens incurred in the extension, renewal or refinancing of the Indebtedness secured by Liens described in clauses (a) through (c)
above, but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the Indebtedness secured thereby may not increase; 

  
 25 

 (g) leases or subleases of real property granted in the ordinary course of Borrower’s
business (or, if referring to another Person, in the ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or sublicenses of personal property (other than Intellectual
Property) granted in the ordinary course of Borrower’s business (or, if referring to another Person, in the ordinary course of such Person’s business), if the leases, subleases, licenses and sublicenses do not prohibit granting the
Administrative Agent a security interest therein; 
 (h) (i) non-exclusive licenses of Intellectual
Property and (ii) licenses of Intellectual Property that is not material to the business of Borrower or its Subsidiaries, in each case, granted to their customers in the ordinary course of business; 

(i) Liens arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default under
Section 8.1(h); 
 (j) Restricted Licenses in a value not to exceed One Million Dollars ($1,000,000) in the
aggregate at any time; 
 (k) Liens on real property acquired, constructed or improved by Borrower or a Subsidiary; provided that
(i) such Liens secure Indebtedness permitted by Section 7.2(o), (ii) such Liens and the Indebtedness secured thereby are incurred prior to or within ninety (90) days after such acquisition or the completion of
such construction or improvement, (iii) the Indebtedness secured thereby does not exceed one hundred percent (100%) of the cost of acquiring, constructing or improving such real property and (iv) such Liens shall not apply to any other
property or assets of Borrower (including the Collateral) or any Subsidiary other than the proceeds and products of such assets; 
 (l) any
Lien existing on any property or asset prior to the acquisition thereof by Borrower or any Subsidiary or existing on any property or asset of any Person that becomes a Subsidiary after the Closing Date prior to the time such Person becomes a
Subsidiary; provided that (i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply to any other property or assets of
the Subsidiary (other than (1) the proceeds or products thereof or (2) after-acquired property that is affixed or incorporated into the property covered by such Lien), (iii) such Lien shall secure only those obligations which it secures on
the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be, and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof and (iv) such obligations are
permitted under Section 7.2(m); 
 (m) Liens in respect of cash collateral securing Indebtedness permitted by
Section 7.2(l); 
 (n) Liens arising out of conditional sale, title retention, consignment or similar arrangements
for sale of goods entered into in the ordinary course of business; 
 (o) Liens solely on cash earnest money deposits made in connection
with any letter of intent or purchase agreement permitted hereunder; 
 (p) servitudes, easements, rights of way, restrictions and other
similar encumbrances on real property imposed by applicable laws and encumbrances consisting of zoning or building restrictions, easements, licenses, restrictions on the use of property or minor imperfections in title thereto which, in the
aggregate, are not material, and which do not in any case materially detract from the value of the property subject thereto or interfere with the ordinary conduct of the business; 

  
 26 

 (q) with respect to any real property, (A) such defects or encroachments as might be
revealed by an up-to-date survey of such real property; (B) the reservations, limitations, provisos and conditions expressed in the original grant, deed or patent
of such property by the original owner of such real property pursuant to applicable laws; and (C) rights of expropriation, access or user or any similar right conferred or reserved by or in applicable laws, which, in the aggregate for (A), (B)
and (C), are not material, and which do not in any case materially detract from the value of the property subject thereto or interfere with the ordinary conduct of the business; 

(r) bankers liens, rights of setoff and similar Liens incurred on deposits made in the ordinary course of business; 

(s) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and
other obligations of a like nature, in each case in the ordinary course of business; 
 (t) Liens securing Indebtedness of UiPath K.K. as
contemplated under Section 7.2(p)(ii); and 
 (u) Liens (i) in favor of customs and revenue authorities
arising as a matter of law to secure payment of customs duties in connection with the importation of goods in the ordinary course of business or (ii) on specific items of inventory or other goods and proceeds of any Person securing such
Person’s obligations in respect of bankers’ acceptances or letters of credit issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods in the ordinary course of
business. 
 “Person”: any natural Person, corporation, limited liability company, trust, joint venture,
association, company, partnership, Governmental Authority or other entity. 
 “Plan”: (a) an employee benefit
plan (as defined in Section 3(3) of ERISA) other than a Multiemployer Plan which is or was at any time maintained or sponsored by any Loan Party or any Subsidiary thereof or to which any Loan Party or any Subsidiary thereof has ever made, or
was obligated to make, contributions, (b) a Pension Plan, or (c) a Qualified Plan. 
 “Platform”: is any
of Debt Domain, Intralinks, Syndtrak or a substantially similar electronic transmission system. 
 “Preferred
Stock”: the preferred Capital Stock of the Borrower. 
 “Prime Rate”: the rate of interest per annum
published in the money rates section of the Wall Street Journal or any successor publication thereto as the “prime rate” then in effect; provided that if such rate of interest, as set forth from time to time in the money rates
section of the Wall Street Journal, becomes unavailable for any reason as determined by the Administrative Agent, the “Prime Rate” shall mean the rate of interest per annum announced by the Administrative Agent as its prime rate in effect
at its principal office (such Administrative Agent announced Prime Rate not being intended to be the lowest rate of interest charged by Administrative Agent in connection with extensions of credit to debtors). 

  
 27 

 “Pro Forma Basis”: with respect to any calculation or determination
for any period, in making such calculation or determination on the specified date of determination (the “Determination Date”): 

(a) pro forma effect will be given to any Indebtedness incurred by the Borrower or any of its Subsidiaries (including by assumption of then
outstanding Indebtedness or by a Person becoming a Subsidiary (“Incurred”) after the beginning of the applicable period and on or before the Determination Date to the extent the Indebtedness is outstanding or is to be
Incurred on the Determination Date, as if such Indebtedness had been Incurred on the first day of such period; 
 (b) pro forma calculations
of interest on Indebtedness bearing a floating interest rate will be made as if the rate in effect on the Determination Date (taking into account any Swap Agreement applicable to the Indebtedness) had been the applicable rate for the entire
reference period; 
 (c) pro forma effect will be given to: (A) the acquisition or disposition of companies, divisions or lines of
businesses by the Borrower and its Subsidiaries, including any acquisition or disposition of a company, division or line of business since the beginning of the reference period by a Person that became a Subsidiary after the beginning of the
applicable period; and (B) the discontinuation of any discontinued operations; in each case of clauses (A) and (B), that have occurred since the beginning of the applicable period and before the Determination Date as if such events had
occurred, and, in the case of any disposition, the proceeds thereof applied, on the first day of such period. To the extent that pro forma effect is to be given to an acquisition or disposition of a company, division or line of business, the pro
forma calculation will be calculated in good faith by a responsible financial or accounting officer of the Borrower in accordance with Regulation S-X under the Securities Act based upon the most recent four
full fiscal quarters for which the relevant financial information is available. 
 “Projections”: as defined in
Section 6.2(c). 
 “Properties”: as defined in Section 4.17(a).

 “Protective Overadvance”: as defined in Section 2.5(b). 

“Qualified Counterparty”: with respect to any Specified Swap Agreement, any counterparty thereto that is a Lender or
an Affiliate of a Lender or, at the time such Specified Swap Agreement was entered into or as of the Closing Date, was the Administrative Agent or a Lender or an Affiliate of the Administrative Agent or a Lender. 

“Qualified ECP Guarantor”: in respect of any Swap Obligation, (a) each Guarantor that has total assets exceeding
$10,000,000 at the time the relevant Guarantee Obligation of such Guarantor provided in respect of, or the Lien granted by such Guarantor to secure, such Swap Obligation (or guaranty thereof) becomes effective with respect to such Swap Obligation,
and (b) any other Guarantor that (i) constitutes an “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder, or (ii) can cause another Person (including, for the avoidance
of doubt, any other Guarantor not then constituting a “Qualified ECP Guarantor”) to qualify as an “eligible contract participant” at such time by entering into a “keepwell, support, or other agreement” as contemplated
by Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 “Qualified Plan”: an employee benefit plan (as
defined in Section 3(3) of ERISA) other than a Multiemployer Plan (a) that is or was at any time maintained or sponsored by any Loan Party or any ERISA Affiliate thereof or to which any Loan Party or any ERISA Affiliate thereof has ever
made, or was ever obligated to make, contributions, and (b) that is intended to be tax-qualified under Section 401(a) of the Code. 

  
 28 

 “Quick Assets” is, on any date, the sum of (a) the aggregate
amount of unrestricted cash and Cash Equivalents held at such time by Borrower and Subsidiaries plus (b) net billed accounts receivable (net of allowance for doubtful accounts) of Borrower and Subsidiaries determined according to GAAP. 

“Recipient”: the (a) Administrative Agent, (b) any Lender or (c) the Issuing Lender, as applicable.

 “Refunded Swingline Loans”: as defined in Section 2.4(b). 

“Register”: as defined in Section 10.6(c). 

“Regulation T”: Regulation T of the Board as in effect from time to time. 

“Regulation U”: Regulation U of the Board as in effect from time to time. 

“Regulation X”: Regulation X of the Board as in effect from time to time. 

“Related Parties”: with respect to any Person, such Person’s Affiliates and the partners, directors, officers,
employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. 

“Relevant Subsidiary” a Subsidiary of Borrower that (a) generates revenues (other than revenues resulting solely
from intercompany arrangements solely with Borrower and/or other Subsidiaries of Borrower that are in the ordinary course of business consistent with the Borrower’s and its Subsidiaries’ historical practices) in excess of 10% of total
consolidated revenues of the Group Members, (b) owns assets in excess of 10% of total consolidated assets of the Group Members, (c) owns more than 50% of the share capital of any other Relevant Subsidiary or (d) develops, owns,
acquires, holds or otherwise controls material Intellectual Property (individually or in the aggregate with all Intellectual Property held by such Subsidiary). 

“Replacement Lender”: as defined in Section 2.19. 

“Required Lenders”: at any time, (a) if only one Revolving Lender holds the Total Revolving Commitments at such
time, such Revolving Lender, both before and after the termination of such Revolving Commitment; and (b) if more than one Revolving Lender holds the Total Revolving Commitment, at least two Revolving Lenders who hold more than 50% of the Total
Revolving Commitments (including, without duplication, the L/C Commitments) or, at any time after the termination of the Revolving Commitments when such Revolving Commitments were held by more than one Revolving Lender, at least two Revolving
Lenders who hold more than 50% of the Total Revolving Extensions of Credit then outstanding (including, without duplication, any L/C Disbursements that have not yet been reimbursed by Borrower or converted into Revolving Loans at such time);
provided that the Revolving Commitments of, and the portion of the Revolving Loans and participations in L/C Exposure and Swingline Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination
of Required Lenders; provided further that a Lender and its Affiliates shall be deemed one Lender. 
 “Requirement of
Law”: as to any Person, the Operating Documents of such Person, and any law, treaty, rule or regulation or the administration, interpretation, implementation or application or determination of an arbitrator or a court or other
Governmental Authority (including, for the avoidance of doubt, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all
requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case
pursuant to Basel III), in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

  
 29 

 “Resolution Authority” means an EEA Resolution Authority or, with
respect to any UK Financial Institution, a UK Resolution Authority. 
 “Responsible Officer”: the chief executive
officer, president, vice president, chief financial officer, treasurer, controller or comptroller of the Borrower, but in any event, with respect to financial matters, the chief financial officer, treasurer, controller or comptroller of the
Borrower. 
 “Restricted License” is any material license or other agreement with respect to which Borrower is the
licensee that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or agreement or any other property. 

“Restricted Payments”: as defined in Section 7.6. 

“Revolving Commitment”: as to any Lender, the obligation of such Lender, if any, to make Revolving Loans and to
participate in Swingline Loans and Letters of Credit in an aggregate principal amount not to exceed the amount set forth under the heading “Revolving Commitment” opposite such Lender’s name on Schedule 1.1A
or in the Assignment and Assumption or joinder agreement to which such Lender becomes a party hereto, as the amount of any such obligation may be changed from time to time pursuant to the terms hereof (including in connection with assignments
permitted hereunder). The L/C Commitment and the Swingline Commitment are each sublimits of the Total Revolving Commitments. 

“Revolving Commitment Period”: the period from and including the Closing Date to the Revolving Termination Date. 

“Revolving Extensions of Credit”: as to any Revolving Lender at any time, an amount equal to the sum of
(a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, plus (b) such Lender’s L/C Percentage of the aggregate undrawn Dollar Equivalent amount of all outstanding Letters of Credit
(including the Existing Letter of Credit) at such time, plus (c) such Lender’s L/C Percentage of the aggregate Dollar Equivalent amount of all L/C Disbursements that have not yet been reimbursed by Borrower or converted into
Revolving Loans at such time, plus (d) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding. 

“Revolving Facility”: the Revolving Commitments and the extensions of credit made thereunder. 

“Revolving Lender”: each Lender that has a Revolving Commitment or that holds Revolving Loans. 

“Revolving Loan Conversion”: as defined in Section 3.5(b). 

“Revolving Loan Funding Office”: the office of the Administrative Agent specified in
Section 10.2 or such other office as may be specified from time to time by the Administrative Agent as its funding office by written notice to the Borrower and the Lenders. 

“Revolving Loan Note”: a promissory note in the form of
Exhibit H-1, as it may be amended, supplemented or otherwise modified from time to time. 

“Revolving Loans”: as defined in Section 2.1(a). 

  
 30 

 “Revolving Percentage”: as to any Revolving Lender at any time, the
percentage which such Lender’s Revolving Commitment then constitutes of the Total Revolving Commitments or, at any time after the Revolving Commitments shall have expired or terminated, the percentage which the aggregate principal amount of
such Lender’s Revolving Loans then outstanding constitutes of the aggregate principal amount of all Revolving Loans then outstanding; provided that in the event that the Revolving Loans are paid in full prior to the reduction to zero of
the Total Revolving Commitments, the Revolving Percentages shall be determined in a manner designed to ensure that the other outstanding Revolving Extensions of Credit shall be held by the Revolving Lenders on a comparable basis. 

“Revolving Termination Date”: October 30, 2023. 

“S&P”: Standard & Poor’s Ratings Services. 

“Sale Leaseback Transaction”: any arrangement with any Person or Persons, whereby in contemporaneous or substantially
contemporaneous transactions a Loan Party sells substantially all of its right, title and interest in any property and, in connection therewith, acquires, leases or licenses back the right to use all or a material portion of such property. 

“Sanction(s)”: any international economic sanction administered or enforced by the United States Government (including
OFAC), the United Nations Security Council, the European Union, Her Majesty’s Treasury, the Government of Japan, or other relevant sanctions authority. 

“SEC”: the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Secured Parties”: the collective reference to the Administrative Agent, the Lenders (including any
Issuing Lender in its capacity as Issuing Lender and any Swingline Lender in its capacity as Swingline Lender), any Cash Management Bank (in its or their respective capacities as providers of Cash Management Services), and any Qualified
Counterparties. 
 “Securities Account”: any “securities account” as defined in the UCC with such
additions to such term as may hereafter be made. 
 “Securities Account Control Agreement”: any Control Agreement
entered into by the Administrative Agent, a Loan Party and a securities intermediary holding a Securities Account of such Loan Party pursuant to which the Administrative Agent is granted “control” (for purposes of the UCC) over such
Securities Account. 
 “Securities Act”: the Securities Act of 1933, as amended from time to time and any successor
statute. 
 “Security Documents”: the collective reference to (a) the Guarantee and Collateral Agreement,
(b) the Mortgages, (c) each Deposit Account Control Agreement, (d) each Securities Account Control Agreement, (e) all other security documents (including, without limitation, any similar agreement providing for a Lien on any
depository account of a Loan Party in favor of the Administrative Agent under any applicable foreign law) hereafter delivered to the Administrative Agent granting a Lien on any property of any Person to secure the Obligations of any Loan Party
arising under any Loan Document, and (f) all financing statements, fixture filings, Patent, Trademark and Copyright filings, assignments, acknowledgments and other filings, documents and agreements made or delivered pursuant to any of the
foregoing. 

  
 31 

 “Software License Revenue” is the sum of Borrower’s and the
other Group Members’ monthly revenue attributable to licensing fees pursuant to binding Eligible Software License Contracts that (a) meet all of Borrower’s representations and warranties described in
Section 4.26 and (b) are or may be due and owing from Account Debtors deemed acceptable to Administrative Agent in its reasonable determination, minus any discounts, credits, reserves for bad debt, customer
adjustments, or other offsets. 
 “Solvency Certificate”: the Solvency Certificate, dated the Closing Date,
delivered to the Administrative Agent pursuant to Section 5.1(s), which Solvency Certificate shall be in substantially the form of Exhibit D. 

“Solvent”: when used with respect to any Person, as of any date of determination, (a) the amount of the
“fair value” of the assets of such Person (and including as assets for this purpose, at a fair valuation, all rights of subrogation, contribution or indemnification in favor of such Person), on a going concern basis, will, as of such date,
exceed the amount of all “liabilities of such Person, contingent or otherwise,” as of such date (and including as liabilities for this purpose, at a fair valuation, all obligations of subrogation, contribution or indemnification against
such Person), as such quoted terms are determined in accordance with applicable federal and state laws governing determinations of the insolvency of debtors, (b) the “present fair saleable value” of the assets of such Person (and
including as assets for this purpose, at a fair valuation, all rights of subrogation, contribution or indemnification in favor of such Person), on a going concern basis, will, as of such date, be greater than the amount that will be required to pay
the liability of such Person on its debts as such debts become absolute and matured (and including as liabilities for this purpose, at a fair valuation, all obligations of subrogation, contribution or indemnification against such Person), as such
quoted terms are determined in accordance with applicable federal and state laws governing determinations of the insolvency of debtors, (c) such Person will not have, as of such date, an unreasonably small amount of capital with which to
conduct its business, and (d) such Person will be able to pay its debts as they mature. For purposes of this definition, (i) “debt” means liability on a “claim,” and (ii) “claim” means any (x) right to
payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (y) right to an equitable remedy for breach of
performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured or unmatured, disputed, undisputed, secured or unsecured. 

“Specified Swap Agreement”: any Swap Agreement entered into by a Loan Party (or if agreed by the Administrative Agent,
any other Group Member) and any Qualified Counterparty (or any Person who was a Qualified Counterparty as of the Closing Date or as of the date such Swap Agreement was entered into) to the extent permitted under
Section 7.13. 
 “Subordinated Debt Document”: any agreement, certificate, document or
instrument executed or delivered by the Borrower or any Subsidiary and evidencing Indebtedness of the Borrower or any Subsidiary which is subordinated to the payment of the Obligations or the lien securing such indebtedness is subordinated to the
Administrative Agent’s Lien in a manner approved in writing by the Administrative Agent and the Required Lenders, and any renewals, modifications, or amendments thereof which are approved in writing by the Administrative Agent and the Required
Lenders. 
 “Subordinated Indebtedness”: Indebtedness of a Loan Party subordinated to the Obligations pursuant to
subordination terms (including payment, lien and remedies subordination terms, as applicable) reasonably acceptable to the Administrative Agent and the Required Lenders. 

“Subsidiary”: as to any Person, a corporation, partnership, limited liability company or other entity of which shares
of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to 

  
 32 

 
elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly
or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a
Subsidiary or Subsidiaries of the Borrower. 
 “SVB”: as defined in the preamble hereto. 

“Swap Agreement”: any agreement with respect to any swap, hedge, forward, future, foreign exchange, currency
transactions or derivative transaction or option or similar agreement (including without limitation, any Interest Rate Agreement) involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or
securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing
for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower and its Subsidiaries shall be deemed to be a “Swap Agreement.” 

“Swap Obligation”: with respect to any Guarantor, any obligation of such Guarantor to pay or perform under any
agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act. 

“Swap Termination Value”: in respect of any one or more Swap Agreements, after taking into account the effect of any
legally enforceable netting agreement relating to such Swap Agreements, (a) for any date on or after the date any such Swap Agreement has been closed out and termination value determined in accordance therewith, such termination value, and
(b) for any date prior to the date referenced in clause (a), the amount determined as the mark-to-market value for such Swap Agreement, as determined based
upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Agreements (which may include a Qualified Counterparty). 

“Swingline Commitment”: the obligation of the Swingline Lender to make Swingline Loans pursuant to
Section 2.3 in an aggregate principal amount at any one time outstanding not to exceed $15,000,000. 

“Swingline Lender”: SVB, in its capacity as the lender of Swingline Loans or such other Lender as the Borrower may
from time to time select as the Swingline Lender hereunder following the previous Swingline Lender’s resignation pursuant to Section 2.4(f); provided that such Lender has agreed to be a Swingline Lender. 

“Swingline Loan Note”: a promissory note in the form of
Exhibit H-2, as it may be amended, supplemented or otherwise modified from time to time. 

“Swingline Loans”: as defined in Section 2.3. 

“Swingline Participation Amount”: as defined in Section 2.4(c). 

“Synthetic Lease Obligation”: the monetary obligation of a Person under (a) a
so-called synthetic, off-balance sheet or tax retention lease or (b) an agreement for the use of property creating obligations that do not appear on the balance
sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the Indebtedness of such Person (without regard to accounting treatment). 

“Taxes”: all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup
withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

  
 33 

 “Total Credit Exposure”: is, as to any Lender at any time, the
unused Commitments and Revolving Extensions of Credit of such Lender at such time. 
 “Total L/C Commitments”: at
any time, the sum of all L/C Commitments at such time, as the same may be reduced from time to time pursuant to Section 2.7 or 3.5(b). The initial Dollar Equivalent amount of the Total L/C Commitments on the Closing
Date is $30,000,000. 
 “Total Liabilities” is on any day, obligations that should, under GAAP, be classified as
liabilities on Borrower’s consolidated balance sheet, including all Indebtedness. 
 “Total Revolving
Commitments”: at any time, the aggregate amount of the Revolving Commitments then in effect. The original amount of the Total Revolving Commitments is $200,000,000. 

“Total Revolving Extensions of Credit”: at any time, the aggregate amount of the Revolving Extensions of Credit
outstanding at such time. 
 “Trade Date”: as defined in Section 10.6(b)(i)(B). 

“Trademarks” are any trademark and servicemark rights, whether registered or not, applications to register and
registrations of the same and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 

“Type”: as to any Loan, its nature as an ABR Loan or a Eurodollar Loan. 

“UiPath Core Product” is (a) the robot process automation software developed or otherwise owned by the Borrower
and/or any other Group Member and licensed to third parties for payment of a fee, and (b) any other product of Borrower or any Group Member that generates any revenues, with the express exclusion of any over-the-counter software that is commercially available to the public, such as open source software governed by associated licenses. 

“UiPath K.K.” is, UiPath K.K., a stock corporation (Kabushiki Kaisha) incorporated under the laws of Japan.

 “UiPath Non-Core Product” is Intellectual Property or any other product
of Borrower and/or any Subsidiaries that does not generate revenue in the business of Borrower or any of its Subsidiaries, including, without limitation, any software under testing, preview (whether private or public), licensed for free (in a
community or trial edition or otherwise) or any material software licensed to Borrower by a third party and noted on the Perfection Certificate. 

“UiPath Romania” is, so long as it is a Subsidiary of Borrower, UiPath SRL, a Romanian limited liability company. 

“UK Financial Institution”: any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time
to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes
certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. 

  
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 “UK Resolution Authority” means the Bank of England or any other
public administrative authority having responsibility for the resolution of any UK Financial Institution. 
 “Unfriendly
Acquisition”: any acquisition that has not, at the time of the first public announcement of an offer relating thereto, been approved by the board of directors (or other legally recognized governing body) of the Person to be acquired;
except that with respect to any acquisition of a non-U.S. Person, an otherwise friendly acquisition shall not be deemed to be unfriendly if it is not customary in such jurisdiction to obtain such approval
prior to the first public announcement of an offer relating to a friendly acquisition. 
 “Uniform Commercial Code”
or “UCC”: the Uniform Commercial Code (or any similar or equivalent legislation) as in effect from time to time in the State of New York, or as the context may require, any other applicable jurisdiction. 

“United States” and “U.S.”: the United States of America. 

“USCRO”: the U.S. Copyright Office. 

“USPTO”: the U.S. Patent and Trademark Office. 

“U.S. Person”: any Person that is a “United States Person” as defined in Section 7701(a)(30) of the
Code. 
 “U.S. Tax Compliance Certificate”: as defined in Section 2.16(f). 

“Withholding Agent”: as applicable, any of any applicable Loan Party and the Administrative Agent, as the context may
require. 
 “Write-Down and Conversion Powers”: (a) with respect to any EEA Resolution Authority, the write-down and
conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel,
reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any
other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that
Bail-In Legislation that are related to or ancillary to any of those powers. 
 1.2 Other
Definitional Provisions. 
 (a) Unless otherwise specified therein, all terms defined in this Agreement shall have the defined meanings
when used in the other Loan Documents or any certificate or other document made or delivered pursuant hereto or thereto. 
 (b) As used
herein and in the other Loan Documents, and any certificate or other document made or delivered pursuant hereto or thereto, (i) accounting terms relating to any Group Member not defined in Section 1.1 and accounting
terms partly defined in Section 1.1, to the extent not defined, shall have the respective meanings given to them under GAAP, (ii) the words “include,” “includes” and “including” shall be
deemed to be followed by the phrase “without limitation,” (iii) the word “incur” shall be construed to mean incur, create, issue, assume, become liable in respect of or suffer to exist (and the words “incurred” and
“incurrence” shall have correlative meanings), (iv) the words “asset” and “property” 

  
 35 

 
shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, Capital Stock, securities, revenues, accounts,
leasehold interests and contract rights, (v) references to a given time of day shall, unless otherwise specified, be deemed to refer to Pacific time, and (vi) references to agreements (including this Agreement) or other Contractual
Obligations shall, unless otherwise specified, be deemed to refer to such agreements or Contractual Obligations as amended, supplemented, restated, amended and restated or otherwise modified from time to time. Notwithstanding the foregoing clause
(i), for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of any Group Member shall be deemed to be carried at 100% of the outstanding principal amount thereof,
and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities shall be disregarded. 

(c) The words “hereof,” “herein” and “hereunder” and words of similar
import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Schedule and Exhibit references are to this Agreement unless otherwise specified. The word
“will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any reference herein to any Person shall be construed to include such Person’s successors and
assigns, (ii) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (iii) any reference to any law or regulation herein
shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time. 
 (d) The
meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. 

(e) Any reference in any Loan Document to a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition or
transfer, or similar term, shall be deemed to apply to a Division of or by a limited liability company, or an allocation of assets to a series of a limited liability company (or the unwinding of such a Division or allocation), as if it were a
merger, transfer, consolidation, amalgamation, consolidation, assignment, sale or transfer, or similar term, as applicable, to, of or with a separate Person. Any Division of a limited liability company shall constitute a separate Person under the
Loan Documents (and each Division of any limited liability company that is a Subsidiary, joint venture or any other like term shall also constitute such a Person) on the first date of its existence. In connection with any Division, if any asset,
right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then such asset shall be deemed to have been transferred from the original Person to the subsequent Person. 

1.3 Rounding. Any financial ratios required to be maintained by the Borrower pursuant to this Agreement shall be calculated by
dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 
 SECTION 2 

AMOUNT AND TERMS OF COMMITMENTS 

2.1 Revolving Commitments. 

(a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a
“Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which,
when added to the aggregate outstanding amount of the Swingline Loans, 

  
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the aggregate undrawn Dollar Equivalent amount of all outstanding Letters of Credit, and the aggregate Dollar Equivalent amount of all L/C Disbursements that have not yet been reimbursed by
Borrower or converted into Revolving Loans, incurred on behalf of the Borrower and owing to such Lender, does not exceed the amount of such Lender’s Revolving Commitment. In addition, the Total Revolving Extensions of Credit outstanding at such
time, after giving effect to the making of such Revolving Loans, shall not at any time exceed (I) during any Non-Formula Period, the Total Revolving Commitments and (II) during any Borrowing Base
Period, the lesser of (i) the Total Revolving Commitments in effect at such time and (ii) the Borrowing Base in effect at such time. During the Revolving Commitment Period the Borrower may use the Revolving Commitments by
borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and
notified to the Administrative Agent in accordance with Sections 2.2 and 2.9. 
 (b) The Borrower shall repay all outstanding
Revolving Loans (including all Overadvances and Protective Overadvances) on the Revolving Termination Date. 
 2.2 Procedure for
Revolving Loan Borrowing. The Borrower may borrow under the Revolving Commitments during the Revolving Commitment Period on any Business Day; provided that the Borrower shall give the Administrative Agent an irrevocable Notice of
Borrowing (which must be received by the Administrative Agent prior to 10:00 A.M. (a) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (b) one (1) Business Day prior to the
requested Borrowing Date, in the case of ABR Loans) (provided that any such Notice of Borrowing of ABR Loans under the Revolving Facility to finance payments under Section 3.5(a) may be given not later than 10:00
A.M. on the date of the proposed borrowing), in each such case specifying (i) the amount and Type of Revolving Loans to be borrowed, (ii) the requested Borrowing Date, (iii) in the case of Eurodollar Loans, the respective lengths of
the initial Interest Periods therefor, and (iv) instructions for remittance of the proceeds of the applicable Loans to be borrowed. Each borrowing under the Revolving Commitments shall be in an amount equal to in the case of ABR Loans, $100,000
or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $100,000, such lesser amount); provided that the Swingline Lender may request, on behalf of the Borrower, borrowings
under the Revolving Commitments that are ABR Loans in other amounts pursuant to Section 2.4. Upon receipt of any such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Revolving
Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each such borrowing available to the Administrative Agent for the account of the Borrower at the Revolving Loan Funding Office prior to 12:00 P.M. on the
Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. Such borrowing will then be made available to the Borrower by the Administrative Agent crediting such account as is designated in writing to the
Administrative Agent by the Borrower with the aggregate of the amounts made available to the Administrative Agent by the Revolving Lenders and in like funds as received by the Administrative Agent or, if so specified in the Flow of Funds Agreement,
the Administrative Agent shall wire transfer all or a portion of such aggregate amounts to the Existing Lender (for application against amounts then outstanding under the Existing Credit Facility), in accordance with the wire instructions specified
for such purpose in the Flow of Funds Agreement. 
 2.3 Swingline Commitment. Subject to the terms and conditions
hereof, the Swingline Lender agrees to make available a portion of the credit accommodations otherwise available to the Borrower under the Revolving Commitments from time to time during the Revolving Commitment Period by making swing line loans
(each a “Swingline Loan” and, collectively, the “Swingline Loans”) to the Borrower; provided that (a) the aggregate principal amount of Swingline Loans
outstanding at any time shall not exceed the Swingline Commitment then in effect, (b) the Borrower shall not request, and the Swingline Lender shall not make, any Swingline Loan if, after giving effect to the making of such Swingline Loan, the
aggregate amount of the Available Revolving Commitments would be less than zero, and (c) the 

  
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Borrower shall not use the proceeds of any Swingline Loan to refinance any then outstanding Swingline Loan. During the Revolving Commitment Period, the Borrower may use the Swingline Commitment
by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Swingline Loans shall be ABR Loans only. The Borrower shall repay to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the
Revolving Termination Date. 
 2.4 Procedure for Swingline Borrowing; Refunding of Swingline Loans. 

(a) Whenever the Borrower desires that the Swingline Lender make Swingline Loans the Borrower shall give the Swingline Lender irrevocable
telephonic notice (which telephonic notice must be received by the Swingline Lender not later than 12:00 P.M. on the proposed Borrowing Date) confirmed promptly by a Notice of Borrowing, specifying (i) the amount to be borrowed, (ii) the
requested Borrowing Date (which shall be a Business Day during the Revolving Commitment Period), and (iii) if applicable, instructions for the remittance of the proceeds of such Loan. Each borrowing under the Swingline Commitment shall be in an
amount equal to $100,000 or a whole multiple of $100,000 in excess thereof. Promptly thereafter, on the Borrowing Date specified in a notice in respect of Swingline Loans, the Swingline Lender shall make available to the Borrower an amount in
immediately available funds equal to the amount of the Swingline Loan to be made by depositing such amount in the account designated in writing to the Administrative Agent by the Borrower, unless otherwise instructed in the Notice of Borrowing.
Unless a Swingline Loan is sooner refinanced by the advance of a Revolving Loan pursuant to Section 2.4(b), such Swingline Loan shall be repaid by the Borrower no later than five (5) Business Days after the advance of
such Swingline Loan. 
 (b) The Swingline Lender, at any time and from time to time in its sole and absolute discretion may, on behalf of
the Borrower (which hereby irrevocably directs the Swingline Lender to act on its behalf), on one Business Day’s telephonic notice given by the Swingline Lender no later than 12:00 P.M. and promptly confirmed in writing, request each Revolving
Lender to make, and each Revolving Lender hereby agrees to make, a Revolving Loan, in an amount equal to such Revolving Lender’s Revolving Percentage of the aggregate amount of such Swingline Loan (each a “Refunded Swingline
Loan”) outstanding on the date of such notice, to repay the Swingline Lender. Each Revolving Lender shall make the amount of such Revolving Loan available to the Administrative Agent at the Revolving Loan Funding Office in immediately
available funds, not later than 10:00 A.M. one Business Day after the date of such notice. The proceeds of such Revolving Loan shall be immediately made available by the Administrative Agent to the Swingline Lender for application by the Swingline
Lender to the repayment of the Refunded Swingline Loan. The Borrower irrevocably authorizes the Swingline Lender to charge the Borrower’s accounts with the Administrative Agent (up to the amount available in each such account) to immediately
pay the amount of any Refunded Swingline Loan to the extent amounts received from the Revolving Lenders are not sufficient to repay in full such Refunded Swingline Loan. 

(c) If prior to the time that the Borrower has repaid the Swingline Loans pursuant to Section 2.4(a) or a Revolving
Loan has been made pursuant to Section 2.4(b), one of the events described in Section 8.1(f) shall have occurred or if for any other reason, as determined by the Swingline Lender in its sole
discretion, Revolving Loans may not be made as contemplated by Section 2.4(b), each Revolving Lender shall, on the date such Revolving Loan was to have been made pursuant to the notice referred to in
Section 2.4(b) or on the date requested by the Swingline Lender (with at least one (1) Business Days’ notice to the Revolving Lenders), purchase for cash an undivided participating interest in the then outstanding
Swingline Loans by paying to the Swingline Lender an amount (the “Swingline Participation Amount”) equal to (i) such Revolving Lender’s Revolving Percentage times (ii) the sum of the aggregate principal
amount of the outstanding Swingline Loans that were to have been repaid with such Revolving Loans. 

  
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 (d) Whenever, at any time after the Swingline Lender has received from any Revolving Lender
such Lender’s Swingline Participation Amount, the Swingline Lender receives any payment on account of the Swingline Loans, the Swingline Lender will distribute to such Lender its Swingline Participation Amount (appropriately adjusted, in the
case of interest payments, to reflect the period of time during which such Lender’s participating interest was outstanding and funded and, in the case of principal and interest payments, to reflect such Lender’s pro rata portion of such
payment if such payment is not sufficient to pay the principal of and interest on all Swingline Loans then due); provided that in the event that such payment received by the Swingline Lender is required to be returned, such Revolving Lender
will return to the Swingline Lender any portion thereof previously distributed to it by the Swingline Lender. 
 (e) Each Revolving
Lender’s obligation to make the Loans referred to in Section 2.4(b) and to purchase participating interests pursuant to Section 2.4(c) shall be absolute and unconditional and shall not be
affected by any circumstance, including (i) any setoff, counterclaim, recoupment, defense or other right that such Revolving Lender or the Borrower may have against the Swingline Lender, the Borrower or any other Person for any reason
whatsoever, (ii) the occurrence of a Default or an Event of Default or the failure to satisfy any of the other conditions specified in Section 5, (iii) any adverse change in the condition (financial or otherwise)
of the Borrower, (iv) any breach of this Agreement or any other Loan Document by the Borrower, any other Loan Party or any other Revolving Lender, or (v) any other circumstance, happening or event whatsoever, whether or not similar to any
of the foregoing. 
 (f) The Swingline Lender may resign at any time by giving 30 days’ prior notice to the Administrative Agent, the
Lenders and the Borrower. After the resignation of the Swingline Lender hereunder, the retiring Swingline Lender shall remain a party hereto and shall continue to have all the rights and obligations of the Swingline Lender under this Agreement and
the other Loan Documents with respect to Swingline Loans made by it prior to such resignation, but shall not be required to make any additional Swingline Loans. 

2.5 Overadvances; Protective Advances. 

(a) If at any time or for any reason the aggregate amount of all Revolving Extensions of Credit of all of the Lenders exceeds (I) during
any Non-Formula Period, the amount of the Total Revolving Commitments then in effect or (II) during any Borrowing Base Period, the lesser of (x) the amount of the Total Revolving Commitments then in
effect, and (y) the amount of the Borrowing Base then in effect (any such excess, an “Overadvance”), the Borrower shall, immediately after the receipt of a request by the Administrative Agent therefore, pay the full
amount of such Overadvance to the Administrative Agent, in each case, for application against the Revolving Extensions of Credit in accordance with the terms hereof. Any prepayment of any Revolving Loan that is a Eurodollar Loan hereunder shall be
subject to Borrower’s obligation to pay any amounts owing pursuant to Section 2.17. 
 (b) Upon the
occurrence and during the continuance of an Event of Default, the Administrative Agent, in its sole discretion, may make Revolving Loans to the Borrower on behalf of the Lenders, so long as the aggregate amount of such Revolving Loans shall not
exceed the lesser of (y) 10% of the Borrowing Base (if then applicable) and (z) 10% of the Commitments, if the Administrative Agent, in its reasonable credit judgment, deems that such Revolving Loans are necessary or desirable (i) to protect
all or any portion of the Collateral, (ii) to enhance the likelihood or maximize the amount of repayment of the Loans and the other Obligations or (iii) to pay any other amount chargeable to the Borrower pursuant to this Agreement (such
Revolving Loans, “Protective Overadvances”); provided that (A) in no event shall the Total Revolving Extensions of Credit exceed the amount of the Total Revolving Commitments then in effect and (B) the
Borrower shall repay each Protective Overadvance on the date which is the earlier of (y) 

  
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the 30th day after the date of incurrence of such Protective Overadvance and (z) the date the Required Lenders provide written notice to
the Administrative Agent and the Borrower requiring the Borrower to repay such Protective Overadvance. Each applicable Lender shall be obligated to advance to the Borrower its Revolving Percentage of each Protective Overadvance made in accordance
with this Section 2.5(b). If Protective Overadvances are made in accordance with the preceding sentence, then all Revolving Lenders shall be bound to make, or permit to remain outstanding, such Protective Overadvances based
upon their Revolving Percentages in accordance with the terms of this Agreement. All Protective Overadvances shall be secured by the Collateral and shall bear interest as provided in this Agreement for Revolving Loans generally. 

2.6 Fees. 
 (a) Fee
Letter. The Borrower agrees to pay to the Administrative Agent the fees in the amounts and on the dates as set forth in the Fee Letter and to perform any other obligations contained therein. 

(b) Commitment Fee. As additional compensation for the Revolving Commitment, the Borrower shall pay to the Administrative Agent for the
account of the Lenders, in arrears, on the first day of each quarter prior to the Revolving Termination Date and on the Revolving Termination Date, a fee for the Borrower’s non-use of available funds in
an amount equal to the Commitment Fee Rate per annum multiplied by the difference between (x) the Revolving Commitments (as they may be reduced from time to time) and (y) the average for the period of the daily closing balance of
the Revolving Loans outstanding (excluding the aggregate principal amount of Swingline Loans which shall be deemed to be zero for purposes hereof). 

(c) Fees Nonrefundable. All fees payable under this Section 2.6 shall be fully earned on the date paid and
nonrefundable. 
 2.7 Termination or Reduction of Revolving Commitments. 

(a) Termination or Reduction. The Borrower shall have the right, upon not less than three Business Days’ notice to the
Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of the Revolving Commitments shall be permitted if, after
giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Available Revolving Commitments. Any such reduction shall be in an
amount equal to $500,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect; provided further, if in connection with any such reduction or termination of the Revolving Commitments a
Eurodollar Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Borrower shall also pay any amounts owing pursuant to Section 2.17. The Borrower shall have the right, upon not
less than three Business Days’ notice to the Administrative Agent, to terminate the L/C Commitments or, from time to time, to reduce the amount of the L/C Commitments; provided that no such termination or reduction of L/C Commitments
shall be permitted if, after giving effect thereto, the Total L/C Commitments shall be reduced to an amount that would result in the aggregate L/C Exposure exceeding the Total L/C Commitments (as so reduced). Any such reduction shall be in an amount
equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the L/C Commitments then in effect. 
 (b) [Reserved]

  
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 2.8 Prepayments. 

(a) Prepayments Generally. The Borrower may at any time and from time to time prepay the Loans, in whole or in part, without premium or
penalty, upon irrevocable notice delivered to the Administrative Agent no later than 10:00 A.M. three (3) Business Days prior thereto, in the case of Eurodollar Loans, and no later than 10:00 A.M. one (1) Business Day prior thereto, in the
case of ABR Loans, which notice shall specify the date and amount of the proposed prepayment; provided that if a Eurodollar Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Borrower shall also
pay any amounts owing pursuant to Section 2.17; provided further that if such notice of prepayment indicates that such prepayment is to be funded with the proceeds of a refinancing, such notice of
prepayment may be revoked if the financing is not consummated. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice is given, the amount specified in such notice shall be due
and payable on the date specified therein, together with (except in the case of Revolving Loans that are ABR Loans and Swingline Loans) accrued interest to such date on the amount prepaid. Partial prepayments of Revolving Loans shall be in an
aggregate principal amount of $500,000 or a whole multiple thereof. Partial prepayments of Swingline Loans shall be in an aggregate principal amount of $100,000 or a whole multiple thereof. 

2.9 Conversion and Continuation Options. 

(a) The Borrower may elect from time to time to convert Eurodollar Loans to ABR Loans by giving the Administrative Agent prior irrevocable
notice in a Notice of Conversion/Continuation of such election no later than 10:00 A.M. on the Business Day preceding the proposed conversion date; provided that any such conversion of Eurodollar Loans may only be made on the last day of an
Interest Period with respect thereto. The Borrower may elect from time to time to convert ABR Loans to Eurodollar Loans by giving the Administrative Agent prior irrevocable notice in a Notice of Conversion/Continuation of such election no later than
10:00 A.M. on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor); provided that, unless otherwise agreed by the Required Lenders, no ABR Loan may be
converted into a Eurodollar Loan when any Event of Default has occurred and is continuing. Upon receipt of any such notice, the Administrative Agent shall promptly notify each relevant Lender thereof. 

(b) Any Eurodollar Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Borrower
giving irrevocable notice in a Notice of Conversion/Continuation to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.1, of the length of
the next Interest Period to be applicable to such Loans; provided that, unless otherwise agreed by the Required Lenders, no Eurodollar Loan may be continued as such when any Event of Default has occurred and is continuing; provided
further that if the Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso, such Loans shall be automatically converted to ABR Loans
on the last day of such then expiring Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. 

2.10 Limitations on Eurodollar Tranches. Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions
and continuations of Eurodollar Loans and all selections of Interest Periods shall be in such amounts and be made pursuant to such elections so that, (a) after giving effect thereto, the aggregate principal amount of the Eurodollar Loans
comprising each Eurodollar Tranche shall be equal to $1,000,000 or a whole multiple of $100,000 in excess thereof, and (b) no more than seven (7) Eurodollar Tranches shall be outstanding at any one time. 

  
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 2.11 Interest Rates and Payment Dates. 

(a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to
(i) the Eurodollar Rate determined for such day plus (ii) the Applicable Margin. 
 (b) Each ABR Loan (including any
Swingline Loan) shall bear interest at a rate per annum equal to (i) the ABR plus (ii) the Applicable Margin. 
 (c) During
the continuance of an Event of Default, all outstanding Loans and Letter of Credit Fees shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this
Section plus two percent (2.00%) (the “Default Rate”). 
 (d) Interest shall be payable in arrears on each
Interest Payment Date; provided that interest accruing pursuant to Section 2.11(c) shall be payable from time to time on demand. 

2.12 Computation of Interest and Fees. 

(a) Interest and fees payable pursuant hereto shall be calculated on the basis of a 360-day year for
the actual days elapsed, except that, with respect to ABR Loans the rate of interest on which is calculated on the basis of the Prime Rate, the interest thereon shall be calculated on the basis of a 365- (or 366-, as the case may be) day year for the actual days elapsed. The Administrative Agent shall as soon as practicable notify the Borrower and the relevant Lenders of each determination of a Eurodollar Rate. Any
change in the interest rate on a Loan resulting from a change in the ABR or the Eurocurrency Reserve Requirements shall become effective as of the opening of business on the day on which such change becomes effective. The Administrative Agent shall
as soon as practicable notify the Borrower and the relevant Lenders of the effective date and the amount of each such change in interest rate. 

(b) Each determination of an interest rate by the Administrative Agent pursuant to any provision of this Agreement shall be conclusive and
binding on the Borrower and the Lenders in the absence of manifest error. The Administrative Agent shall, at the request of the Borrower, deliver to the Borrower a statement showing the quotations used by the Administrative Agent in determining any
interest rate pursuant to Section 2.12(a). 
 2.13 Inability to Determine Interest Rate. 

(a) If prior to the first day of any Interest Period, the Administrative Agent or the Required Lenders shall have determined (which
determination shall be conclusive and binding upon the Borrower) in connection with any request for a Eurodollar Loan or a conversion to or a continuation thereof that, by reason of circumstances affecting the relevant market, (i) Dollar
deposits are not being offered to banks in the London interbank market for the applicable amount and Interest Period of such requested Loan or conversion or continuation, as applicable, (ii) adequate and reasonable means do not exist for
ascertaining the Eurodollar Rate for such Interest Period, or (iii) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to such Lenders (as conclusively certified by such
Lenders) of making or maintaining their affected Loans during such Interest Period, then, in any such case (i), (ii) or (iii), the Administrative Agent shall promptly notify the Borrower and the relevant Lenders thereof as soon as practicable
thereafter. Any such determination shall specify the basis for such determination and shall, in the absence of manifest error, be conclusive and binding for all purposes. Thereafter, (x) any Eurodollar Loans requested to be made on the first
day of such Interest Period shall be made as ABR Loans, (y) any Loans that were to have been converted on the first day of such Interest Period to Eurodollar Loans shall be continued as ABR Loans and (z) any outstanding Eurodollar Loans
shall be converted, on the last day of the then-current Interest Period, to ABR Loans. Until such notice has been withdrawn by the Administrative Agent, no further Eurodollar Loans shall be made or continued as such, nor shall the Borrower have the
right to convert Loans to Eurodollar Loans. 

  
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 (b) If at any time the Administrative Agent or the Required Lenders determine (which
determination shall be conclusive absent manifest error) that (i) the circumstances set forth in Section 2.13(a)(i) or (ii) have arisen and such circumstances are unlikely to be temporary, or (ii) the circumstances set forth in
Section 2.13(a)(i) or (ii) have not arisen but the supervisor for the administrator of the LIBOR reporting system or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying a
specific date after which LIBOR shall no longer be used for determining interest rates for loans, then Administrative Agent and Borrower shall endeavor to establish an alternate rate of interest to LIBOR that gives due consideration to the then
prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to
this Agreement as may be applicable; provided that if such alternate rate of interest shall be less than the floor rate (as set forth in the definition of Eurodollar Base Rate), such rate shall be deemed to be the floor rate (as set forth in the
definition of Eurodollar Base Rate) for the purposes of this Agreement. Notwithstanding anything to the contrary in Section 10.1, such amendment shall become effective at 5:00 p.m. Pacific time on the fifth (5th) Business Day after the
Administrative Agent has provided such amendment to all Lenders, so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. Until an alternate rate
of interest shall be determined in accordance with this clause (b) (but in the case of the circumstances described in clause (ii) of the first sentence of this Section 2.13(b), only to the extent that LIBOR for such Interest Period is not
available or published at such time on a current basis), (x) any Eurodollar Loans requested to be made shall be made as ABR Loans, and (y) any outstanding Eurodollar Loans shall be converted, on the last day of the then-current Interest Period,
to ABR Loans. 
 2.14 Pro Rata Treatment and Payments. 

(a) Each borrowing by the Borrower from the Lenders hereunder, each payment by the Borrower on account of any commitment fee and any reduction
of the Commitments shall be made pro rata according to the respective L/C Percentages or Revolving Percentages, as the case may be, of the relevant Lenders. 

(b) [Reserved]. 
 (c) Each
payment (including each prepayment) by the Borrower on account of principal of and interest on the Revolving Loans shall be made pro rata according to the respective outstanding principal amounts of the Revolving Loans then held by the
Revolving Lenders. Any prepayment of Revolving Loans shall be applied first, to Revolving Loans that are ABR Loans, and thereafter, to Revolving Loans that are Eurodollar Loans based on the last day of their then current Interest Periods (earliest
first). 
 (d) All payments (including prepayments) to be made by the Borrower hereunder, whether on account of principal, interest, fees or
otherwise, shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff and shall be made prior to 10:00 A.M. on the due date thereof to the Administrative Agent, for the account of the Lenders, at the Revolving
Loan Funding Office, in Dollars and in immediately available funds. The Administrative Agent shall distribute such payments to the Lenders promptly upon receipt in like funds as received. Any payment received by the Administrative Agent after 10:00
A.M. shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment hereunder (other than payments on the Eurodollar 

  
 43 

 
Loans) becomes due and payable on a day other than a Business Day, such payment shall be extended to the next succeeding Business Day. If any payment on a Eurodollar Loan becomes due and payable
on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made
on the immediately preceding Business Day. In the case of any extension of any payment of principal pursuant to the preceding two sentences, interest thereon shall be payable at the then applicable rate during such extension. 

(e) Unless the Administrative Agent shall have been notified in writing by any Lender prior to the proposed date of any borrowing that such
Lender will not make the amount that would constitute its share of such borrowing available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date in
accordance with Section 2, and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such amount is not in fact made available to the Administrative Agent
by the required time on the Borrowing Date therefor, such Lender and the Borrower severally agree to pay to the Administrative Agent forthwith, on demand, such corresponding amount with interest thereon, for each day from and including the date on
which such amount is made available to the Borrower but excluding the date of payment to the Administrative Agent, at (i) in the case of a payment to be made by such Lender, a rate equal to the greater of (A) the Federal Funds Effective
Rate and (B) a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, and (ii) in the case of a payment to be made by the Borrower, the rate per annum applicable to ABR Loans. If
the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period.
If such Lender pays its share of the applicable borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such borrowing. Any payment by the Borrower shall be without prejudice to any claim
the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 
 (f) Unless the
Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Lender hereunder that the Borrower will not make such payment,
the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Lender, as the case may be, the amount due. In such
event, if the Borrower has not in fact made such payment, then each of the Lenders or the Issuing Lender, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or
Issuing Lender, with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. Nothing herein shall be deemed to limit the rights of Administrative Agent or any Lender against any Loan Party. 

(g) If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing
provisions of this Section 2, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable extension of credit set forth in Section 5.1
or Section 5.2 are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest. 

(h) The obligations of the Lenders hereunder to (i) make Revolving Loans, (ii) to fund its participations in L/C Disbursements in
accordance with its respective L/C Percentage, (iii) to fund its respective Swingline Participation Amount of any Swingline Loan, and (iv) to make payments pursuant to 

  
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Section 9.7, as applicable, are several and not joint. The failure of any Lender to make any such Loan, to fund any such participation or to make any such payment under
Section 9.7 on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its
Loan, to purchase its participation or to make its payment under Section 9.7. 
 (i) Nothing herein shall be
deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

(j) If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal,
interest and fees then due hereunder, such funds shall be applied (i) first, toward payment of interest and fees, Overadvances and Protective Overadvances then due hereunder, ratably among the parties entitled thereto in accordance with
the amounts of interest and fees, Overadvances and Protective Overadvances then due to such parties, and (ii) second, toward payment of principal then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of principal then due to such parties. 
 (k) If any Lender shall obtain any payment (whether voluntary, involuntary, through the
exercise of any right of set-off, or otherwise) on account of the principal of or interest on any Loan made by it, its participation in the L/C Exposure or other obligations hereunder, as applicable (other
than pursuant to a provision hereof providing for non-pro rata treatment), in excess of its Revolving Percentage or L/C Percentage, as applicable, of such payment on account of the Loans or participations
obtained by all of the Lenders, such Lender shall (a) notify the Administrative Agent of the receipt of such payment, and (b) within five (5) Business Days of such receipt purchase (for cash at face value) from the other Revolving
Lenders or L/C Lenders, as applicable (through the Administrative Agent), without recourse, such participations in the Revolving Loans made by them and/or participations in the L/C Exposure held by them, as applicable, or make such other adjustments
as shall be equitable, as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of the other Lenders in accordance with their respective Revolving Percentages or L/C Percentages, as applicable;
provided, however, that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of
such recovery, without interest and (ii) the provisions of this paragraph shall not be construed to apply to (x) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement (including the
application of funds arising from the existence of a Defaulting Lender) or (y) any payment obtained by a Lender as consideration for the assignment or sale of a participation in any of its Loans or participations in L/C Disbursements to any
assignee or participant, other than to the Borrower or any of its Affiliates (as to which the provisions of this paragraph shall apply). The Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this
Section 2.14(k) may exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such Lender were the direct creditor of the
Borrower in the amount of such participation. No documentation other than notices and the like referred to in this Section 2.14(k) shall be required to implement the terms of this Section 2.14(k).
The Administrative Agent shall keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased pursuant to this Section 2.14(k) and shall in each case notify the Revolving
Lenders or the L/C Lenders, as applicable, following any such purchase. The provisions of this Section 2.14(k) shall not be construed to apply to (i) any payment made by or on behalf of the Borrower pursuant to and in
accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), (ii) the application of Cash Collateral provided for in Section 3.10, or
(iii) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or sub-participations in any L/C Exposure to any assignee or participant, other
than an assignment to the Borrower or any Affiliate thereof (as to which the 

  
 45 

 
provisions of this Section shall apply). The Borrower consents on behalf of itself and each other Loan Party to the foregoing and agrees, to the extent it may effectively do so under applicable
law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against each Loan Party rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of each
Loan Party in the amount of such participation. For the avoidance of doubt, no amounts received by the Administrative Agent or any Lender from any Guarantor that is not a Qualified ECP Guarantor shall be applied in partial or complete satisfaction
of any Excluded Swap Obligations. 
 (l) Notwithstanding anything to the contrary in this Agreement, the Administrative Agent may, in its
discretion at any time or from time to time, without the Borrower’s request and even if the conditions set forth in Section 5.2 would not be satisfied, make a Revolving Loan in an amount equal to the portion of the
Obligations constituting overdue interest and fees and Swingline Loans from time to time due and payable to itself, any Revolving Lender, the Swingline Lender or the Issuing Lender, and apply the proceeds of any such Revolving Loan to those
Obligations; provided that after giving effect to any such Revolving Loan, the aggregate outstanding Revolving Loans will not exceed the Total Revolving Commitments then in effect. 

2.15 Illegality; Requirements of Law. 

(a) Illegality. If any Lender determines that any Requirement of Law has made it unlawful, or that any Governmental Authority has
asserted that it is unlawful, for such Lender to make, maintain or fund Eurodollar Loans, or to determine or charge interest rates based upon the Eurodollar Rate, or any Governmental Authority has imposed material restrictions on the authority of
such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, any obligation of such Lender to make or continue Eurodollar
Loans or to convert ABR Loans to Eurodollar Loans shall be suspended until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the
Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Loans of such Lender to ABR Loans, either on the last day of the Interest Period therefor, if such Lender may
lawfully continue to maintain such Eurodollar Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the
amount so prepaid or converted. 
 (b) Requirements of Law. If the adoption of or any change in any Requirement of Law or in the
administration, interpretation, implementation or application thereof by any Governmental Authority, or the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority made
subsequent to the date hereof: 
 (i) shall subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes
described in clauses (b) through (d) of the definition of Excluded Taxes, and (C) Connection Income Taxes) on its Loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other
liabilities or capital attributable thereto; 
 (ii) shall impose, modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for the account of or credit extended or participated in by, any Lender (except any reserve requirement reflected in the Eurodollar Rate); or 

  
 46 

 (iii) impose on any Lender or the London interbank market any other condition, cost or
expense (other than Taxes) affecting this Agreement or Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any
of the foregoing shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining Loans determined with reference to the Eurodollar Rate or of maintaining its obligation to make such Loans, or
to increase the cost to such Lender or such other Recipient of issuing, maintaining or participating in Letters of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum
receivable or received by such Lender or other Recipient hereunder in respect thereof (whether of principal, interest or any other amount), then, in any such case, upon the request of such Lender or other Recipient, the Borrower will promptly pay
such Lender or other Recipient, as the case may be, any additional amount or amounts necessary to compensate such Lender or other Recipient, as the case may be, for such additional costs incurred or reduction suffered. If any Lender becomes entitled
to claim any additional amounts pursuant to this paragraph, it shall promptly notify the Borrower (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled. 

(c) If any Lender determines that any change in any Requirement of Law affecting such Lender or any lending office of such Lender or such
Lender’s holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a
consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit or Swingline Loans held by, such Lender, or the Letters of Credit issued by the Issuing Lender, to a level below that which
such Lender or such Lender’s holding company could have achieved but for such change in such Requirement of Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding company with respect to
capital adequacy), then from time to time the Borrower will pay to such Lender or the Issuing Lender, as the case may be, such additional amount or amounts as will compensate such Lender or the Issuing Lender or such Lender’s or Issuing
Lender’s holding company for any such reduction suffered. 
 (d) For purposes of this Agreement, (i) the Dodd-Frank Wall Street
Reform and Consumer Protection Act and all requests, rules, guidelines, or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the
Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case (i) and (ii) be deemed to be a change in any
Requirement of Law, regardless of the date enacted, adopted or issued. 
 (e) A certificate as to any additional amounts payable pursuant to
paragraphs (b), (c), or (d) of this Section submitted by any Lender to the Borrower (with a copy to the Administrative Agent) shall be conclusive in the absence of manifest error. The Borrower shall pay such Lender the amount shown as due on
any such certificate within 10 days after receipt thereof. Failure or delay on the part of any Lender to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s right to demand such compensation.
Notwithstanding anything to the contrary in this Section 2.15, the Borrower shall not be required to compensate a Lender pursuant to this Section 2.15 for any amounts incurred more than six months
prior to the date that such Lender notifies the Borrower of the change in the Requirement of Law giving rise to such increased costs or reductions, and of such Lender’s intention to claim compensation therefor; provided that if the
circumstances giving rise to such claim have a retroactive effect, then such six-month period shall be extended to include the period of such retroactive effect. The obligations of the Borrower arising
pursuant to this Section 2.15 shall survive the Discharge of Obligations and the resignation of the Administrative Agent. 

  
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 2.16 Taxes. 

For purposes of this Section 2.16, the term “Lender” includes the Issuing Lender and the term
“applicable law” includes FATCA. 
 (a) Payments Free of Taxes. Any and all payments by or on account of any obligation of
any Loan Party under this Agreement or any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law, and the Borrower shall, and shall cause each other Loan Party, to comply with the
requirements set forth in this Section 2.16. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a
Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and,
if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums
payable under this Section 2.16) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(b) Payment of Other Taxes. The Borrower shall, and shall cause each other Loan Party to, timely pay to the relevant Governmental
Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes applicable to such Loan Party. 

(c) Evidence of Payments. As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to
this Section 2.16, the Borrower shall, or shall cause such other Loan Party to, deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such
payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(d) Indemnification by Loan Parties. The Borrower shall, and shall cause each other Loan Party to, jointly and severally indemnify each
Recipient, within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 2.16)
payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto (including any recording and filing fees with respect thereto or
resulting therefrom and any liabilities with respect to, or resulting from, any delay in paying such Indemnified Taxes), whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A
certificate as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest
error. If any Loan Party fails to pay any Indemnified Taxes when due to the appropriate taxing authority or fails to remit to the Administrative Agent the required receipts or other required documentary evidence, such Loan Party shall indemnify the
Administrative Agent and the Lenders for any incremental taxes, interest or penalties that may become payable by the Administrative Agent or any Lender as a result of any such failure. 

(e) Indemnification by Lenders. Each Lender shall severally indemnify the Administrative Agent, within ten (10) days after demand
therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan
Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 10.6 relating to the maintenance of a Participant Register and (iii) any Excluded Taxes
attributable to such Lender, in each 

  
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case, that are payable or paid by the Administrative Agent in connection with this Agreement or any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether
or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent
manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other
source against any amount due to the Administrative Agent under this Section 2.16(e). 
 (f) Status of
Lenders. 
 (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under
any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the
Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such
other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or
information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Sections 2.16(f)(ii)(A),
(ii)(B) and (ii)(D) below) shall not be required if the Lender is not legally entitled to complete, execute or deliver such documentation or, in the Lender’s reasonable judgment, such completion, execution or submission would
subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

(ii) Without limiting the generality of the foregoing, in the event that the Borrower is a U.S. Person, 

(A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies of IRS Form W-9 certifying that such Lender is
exempt from U.S. federal backup withholding tax; 
 (B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to
the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the
reasonable request of the Borrower or the Administrative Agent), one or more of the following, as applicable: 
 (1) in the case of a
Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN
or IRS Form W-8BEN-E, as applicable (or any successor form) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the
“interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable (or any successor form) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article
of such tax treaty; 

  
 49 

 (2) executed copies of IRS Form W-8ECI; 

(3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code,
(x) a certificate substantially in the form of Exhibit F-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a
“10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax
Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable (or any
successor form); or 
 (4) to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form
W-8BEN-E, as applicable (or any successor form), a U.S. Tax Compliance Certificate substantially in the form of Exhibit F-2 or
Exhibit F-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one
or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit
F-4 on behalf of each such direct and indirect partner; 
 (C) any Foreign Lender shall, to the
extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal
withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and 

(D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time
or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such
additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied
with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of this
Agreement. 
 (iii) Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate
in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. Each Foreign Lender shall promptly notify the Borrower at any time it determines that
it is no longer in a position to provide any previously delivered certificate to the Borrower (or any other form of certification adopted by the U.S. taxing authorities for such purpose). Notwithstanding any other provision of this paragraph, a
Foreign Lender shall not be required to deliver any form pursuant to this paragraph that such Foreign Lender is not legally able to deliver. 

  
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 (g) Treatment of Certain Refunds. If any party determines, in its sole discretion
exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.16 (including by the payment of additional amounts pursuant to this
Section 2.16), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of
all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with
respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this Section 2.16(g) (plus any penalties, interest or
other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this
Section 2.16(g), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this Section 2.16(g) the payment of which would place the indemnified
party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise
imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating
to its Taxes that it deems confidential) to the indemnifying party or any other Person. 
 (h) Survival. Each party’s
obligations under this Section 2.16 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender and the Discharge of Obligations. 

2.17 Indemnity. The Borrower agrees to indemnify each Lender for, and to hold each Lender harmless from, any loss or expense
that such Lender may sustain or incur as a consequence of (a) a default by the Borrower in making a borrowing of, conversion into or continuation of Eurodollar Loans after the Borrower has given a notice requesting the same in accordance with
the provisions of this Agreement, (b) a default by the Borrower in making any prepayment of or conversion from Eurodollar Loans after the Borrower has given a notice thereof in accordance with the provisions of this Agreement, or (c) for
any reason, the making of a prepayment of Eurodollar Loans on a day that is not the last day of an Interest Period with respect thereto. Such losses and expenses shall be equal to the excess, if any, of (i) the amount of interest that would
have accrued on the amount so prepaid, or not so borrowed, reduced, converted or continued, for the period from the date of such prepayment or of such failure to borrow, reduce, convert or continue to the last day of such Interest Period (or, in the
case of a failure to borrow, reduce, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the applicable rate of interest or other return for such Loans provided for herein (excluding,
however, the Applicable Margin included therein, if any), over (ii) the amount of interest (as reasonably determined by such Lender) that would have accrued to such Lender on such amount by placing such amount on deposit for a comparable period
with leading banks in the interbank eurodollar market. A certificate as to any amounts payable pursuant to this Section submitted to the Borrower by any Lender shall be conclusive in the absence of manifest error. This covenant shall survive
the Discharge of Obligations. 
 2.18 Change of Lending Office. Each Lender agrees that, upon the occurrence of any event
giving rise to the operation of Section 2.15(b), Section 2.15(c), Section 2.16(a), Section 2.16(b) or Section 2.16(d)
with respect to such Lender, it will, if requested by the Borrower, use reasonable efforts to designate a different lending office for funding or booking its Loans affected by such event or to assign its rights and obligations hereunder to another
of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.15 or 2.16, as the case may be, in
the future, and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender; provided that nothing in this Section shall affect or postpone any of the obligations of
the Borrower or the rights of any Lender pursuant to Section 2.15(b), Section 2.15(c), Section 2.16(a), Section 2.16(b) or
Section 2.16(d). The Borrower hereby agrees to pay all reasonable and documented costs and expenses incurred by any Lender in connection with any such designation or assignment made at the request of the Borrower. 

  
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 2.19 Substitution of Lenders. Upon the receipt by the Borrower of any of the
following (or in the case of clause (a) below, if the Borrower is required to pay any such amount), with respect to any Lender (any such Lender described in clauses (a) through (c) below being referred to as an “Affected
Lender” hereunder): 
 (a) a request from a Lender for payment of Indemnified Taxes or additional amounts under
Section 2.16 or pursuant to Section 2.15 (and, in any such case, such Lender has declined or is unable to designate a different lending office in accordance with
Section 2.18 or is a Non-Consenting Lender); 
 (b) a notice from the
Administrative Agent under Section 10.1(b) that one or more Minority Lenders are unwilling to agree to an amendment or other modification approved by the Required Lenders and the Administrative Agent; or 

(c) notice from the Administrative Agent that a Lender is a Defaulting Lender; 

then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent and such Affected Lender: (i) request that
one or more of the other Lenders acquire and assume all or part of such Affected Lender’s Loans and Commitment; or (ii) designate a replacement lending institution (which shall be an Eligible Assignee) to acquire and assume all or a
ratable part of such Affected Lender’s Loans and Commitment (the replacing Lender or lender in (i) or (ii) being a “Replacement Lender”); provided, however, that the Borrower shall be liable for
the payment upon demand of all costs and other amounts arising under Section 2.17 that result from the acquisition of any Affected Lender’s Loan and/or Commitment (or any portion thereof) by a Lender or Replacement
Lender, as the case may be, on a date other than the last day of the applicable Interest Period with respect to any Eurodollar Loans then outstanding; and provided further, however, that if the Borrower elects to exercise
such right with respect to any Affected Lender under clause (a) or (b) of this Section 2.19, then the Borrower shall be obligated to replace all Affected Lenders under such clauses. The Affected Lender replaced
pursuant to this Section 2.19 shall be required to assign and delegate, without recourse, all of its interests, rights and obligations under this Agreement and the Loan Documents to one or more Replacement Lenders that so
agree to acquire and assume all or a ratable part of such Affected Lender’s Loans and Commitment upon payment to such Affected Lender of an amount (in the aggregate for all Replacement Lenders) equal to 100% of the outstanding principal of the
Affected Lender’s Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the Loan Documents from such Replacement Lenders (to the extent of such outstanding principal and accrued interest and fees)
or the Borrower (in the case of all other amounts, including amounts under Section 2.17 hereof). Any such designation of a Replacement Lender shall be effected in accordance with, and subject to the terms and conditions of,
the assignment provisions contained in Section 10.6 (with the assignment fee to be paid by the Borrower in such instance), and, if such Replacement Lender is not already a Lender hereunder or an Affiliate of a Lender or an
Approved Fund, shall be subject to the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld). Notwithstanding the foregoing, with respect to any assignment pursuant to this
Section 2.19, (a) in the case of any such assignment resulting from a claim for compensation under Section 2.15 or payments required to be made pursuant to
Section 2.16, such assignment shall result in a reduction in such compensation or payments thereafter; (b) such assignment shall not conflict with applicable law and (c) in the case of any assignment resulting
from a Lender being a Minority Lender referred to in clause (b) of this Section 2.19, the applicable assignee shall have consented to the applicable amendment, waiver or consent. Notwithstanding the foregoing, an
Affected Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Affected Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease
to apply. 

  
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 2.20 Defaulting Lenders. 

(a) Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a
Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 
 (i)
Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in Section 10.1 and in the
definition of Required Lenders. 
 (ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts
received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 8 or otherwise, and including any amounts made available to the Administrative
Agent by such Defaulting Lender pursuant to Section 10.7), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such
Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the Issuing Lender or to the Swingline Lender hereunder; third, to be held as
Cash Collateral for the funding obligations of such Defaulting Lender of any participation in any Letter of Credit; fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect
of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a Deposit
Account and released pro rata to (x) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement, and (y) be held as Cash Collateral for the future funding obligations of such
Defaulting Lender of any participation in any future Letter of Credit; sixth, to the payment of any amounts owing to any L/C Lender, Issuing Lender or Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained
by any L/C Lender, Issuing Lender or Swingline Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default has occurred
and is continuing, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of
its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (A) such payment is a payment of the principal amount of any Loans or L/C
Advances in respect of which such Defaulting Lender has not fully funded its appropriate share and (B) such Loans or L/C Advances were made at a time when the conditions set forth in Section 5.2 were satisfied or
waived, such payment shall be applied solely to pay the Loans of, and L/C Advances owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C
Advances owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Advances and Swingline Loans are held by the Lenders pro rata in accordance with the Commitments under the applicable Facility
without giving effect to Section 2.20(a)(iv). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash
Collateral pursuant to this Section 2.20(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

  
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 (iii) Certain Fees. 

(A) No Defaulting Lender shall be entitled to receive any fee pursuant to Section 2.6(b) for any period during
which such Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to such Defaulting Lender). 

(B) Each Defaulting Lender shall be limited in its right to receive letter of credit fees as provided in
Section 3.3(d). 
 (C) With respect to any letter of credit fee not required to be paid to any Defaulting Lender
pursuant to clause (A) or (B) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such
Defaulting Lender’s participation in Letters of Credit or Swingline Loans that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to the Issuing Lender and
the Swingline Lender, as applicable, the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to the Issuing Lender’s or the Swingline Lender’s Fronting Exposure to such Defaulting Lender, and
(z) not be required to pay the remaining amount of any such fee. 
 (iv) Reallocation of Pro Rata Share to Reduce Fronting
Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each Non-Defaulting Lender to acquire, refinance or fund participations in
Letters of Credit pursuant to Section 3.4 or in Swingline Loans pursuant to Section 2.4(c), the L/C Percentage of each Non-Defaulting Lender of any such
Letter of Credit and the Revolving Percentage of each Non-Defaulting Lender of any such Swingline Loan, as the case may be, shall be computed without giving effect to the Revolving Commitment of such
Defaulting Lender; provided that, (A) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Event of Default has occurred and is continuing; and (B) the aggregate
obligations of each Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swingline Loans shall not exceed the positive difference, if any, of (1) the Revolving
Commitment of that Non-Defaulting Lender minus (2) the Revolving Extensions of Credit of such Lender. No reallocation hereunder shall constitute a waiver or release of any claim of any party
hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such
Non-Defaulting Lender’s increased exposure following such reallocation. 
 (v) Cash
Collateral, Repayment of Swingline Loans. If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law,
(x) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure and (y) second, Cash Collateralize the Issuing Lender’s Fronting Exposure in accordance with the procedures set forth
in Section 3.10. 
 (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, the Swingline
Lender and the Issuing Lender agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set
forth therein (which may include arrangements with respect to any Cash Collateral), such Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative
Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Loans to be held on a pro rata basis by the Lenders in accordance with their respective Revolving Percentages and
L/C Percentages, as applicable (without giving effect to Section 2.20(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees
accrued or payments made by or on behalf of the Borrower while such Lender was a Defaulting Lender; and provided further that, except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting
Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from such Lender having been a Defaulting Lender. 

  
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 (c) New Swingline Loans/Letters of Credit. So long as any Lender is a Defaulting
Lender, (i) the Swingline Lender shall not be required to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline Loan, and (ii) the Issuing Lender shall not be required
to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure in respect of Letters of Credit after giving effect thereto. 

(d) Termination of Defaulting Lender. The Borrower may terminate the unused amount of the Revolving Commitment of any Revolving Lender
that is a Defaulting Lender upon not less than ten Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 2.20(a)(ii) will
apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that (i) no Event of Default
shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim the Borrower, the Administrative Agent, the Issuing Lender, the Swingline Lender or any other Lender may have against
such Defaulting Lender. 
 2.21 Incremental Facility. 

(a) At any time during the Revolving Commitment Period, the Borrower may request from time to time from one or more existing Lenders or from
other Eligible Assignees reasonably acceptable to the Administrative Agent, the Issuing Lender, the Swingline Lender and the Borrower (but subject to the conditions set forth in clause (b) below) that the Total Revolving Commitments be
increased by an amount not to exceed the Available Revolving Increase Amount (each such increase, an “Increase”); provided that the Borrower may not request an Increase on more than three occasions during the Revolving
Commitment Period. No Lender shall be obligated to increase its Revolving Commitments in connection with a proposed Increase. The Administrative Agent shall invite each Lender to provide a portion of the Increase ratably in accordance with its
Revolving Percentage of each requested Increase (it being agreed that no Lender shall be obligated to provide an Increase and that any Lender may elect to participate in such Increase in an amount that is less than its Revolving Percentage of such
requested Increase or more than its Revolving Percentage of such requested Increase if other Lenders have elected not to participate in any applicable requested Increase in accordance with their Revolving Percentage) and to the extent, five
(5) Business Days after receipt of invitation, sufficient Lenders do not agree to provide the full amount of such Increase, then the Administrative Agent may invite any prospective lender that satisfies the criteria of being an “Eligible
Assignee” to become a Lender in connection with the proposed Increase. Any Increase shall be in an amount of at least $10,000,000 (or, if the Available Revolving Increase Amount is less than $10,000,000, such remaining Available Revolving
Increase Amount) and integral multiples of $1,000,000 in excess thereof. Additionally, for the avoidance of doubt, it is understood and agreed that in no event shall the aggregate amount of the Increases to the Revolving Commitments exceed the
Available Revolving Increase Amount during the term of the Agreement. 
 (b) Each of the following shall be conditions precedent to any
Increase of the Revolving Commitments in connection therewith: 
 (i) any Increase shall be on the same terms (including the interest rate,
and maturity date), as applicable, as, and pursuant to documentation applicable to, the Revolving Facility then in effect; provided that any such Increase may provide for terms (including interest rate) more favorable to such Increase
lenders, if any existing Revolving Loans and Revolving Commitments at the time of such Increase are also provided the benefit of such more favorable terms (and the consent of any existing Revolving Lender shall not be required to implement such
terms); provided, further, that any upfront fees shall be agreed between the Borrower and the lenders providing such Increase; 

  
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 (ii) the Borrower shall have delivered a written request for such Increase at least fifteen
(15) Business Days prior to the requested establishment of such Increase (or such later date as may be reasonably approved by the Administrative Agent), which request shall set forth the amount and proposed terms of the Increase; 

(iii) each lender agreeing to such Increase, the Borrower and the Administrative Agent shall have signed an Increase Joinder (any Increase
Joinder may, with the consent of the Administrative Agent, the Borrower and the lenders agreeing to such Increase, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate to effectuate the provisions
of this Section 2.21 (including the preceding clause (i)) and the Borrower shall have executed any Notes requested by any Lender in connection with the making of the Increase. Notwithstanding anything to the
contrary in this Agreement or in any other Loan Document, an Increase Joinder reasonably satisfactory to the Administrative Agent, and the amendments to this Agreement effected thereby, shall not require the consent of any Lender other than the
Lender(s) agreeing to establish such Increase;  
 (iv) immediately after giving pro forma effect to such Increase and the use
of proceeds thereof, each of the conditions precedent in Section 5.2(a) are satisfied; 
 (v) immediately after
giving pro forma effect to such Increase and the use of proceeds thereof (and assuming that such Increase was fully drawn), (A) no Default or Event of Default shall have occurred and be continuing at the time of such Increase and (B) the
Borrower shall be in compliance with the financial covenants set forth in Section 7.1 hereof as of the end of the most recently ended month and quarter for which financial statements are internally available to the Loan
Parties prior to such Increase, and the Borrower shall have delivered to the Administrative Agent (which shall promptly provide to the Lenders) a Compliance Certificate evidencing compliance with the requirements of this clause (v); 

(vi) in connection with such Increase, the Borrower shall pay to the Administrative Agent, for the benefit of the Administrative Agent or the
Increase lenders, as applicable, all fees that the Borrower has agreed to pay in connection with such Increase (including pursuant to the Fee Letter); 

(vii) upon each Increase in accordance with this Section 2.21, all outstanding Loans, participations hereunder in
Letters of Credit and participations hereunder in Swingline Loans held by each Lender shall be reallocated among the Lenders (including any newly added Lenders) in accordance with the Lenders’ respective revised Revolving Percentages and L/C
Percentages, pursuant to procedures reasonably determined by the Administrative Agent in consultation with the Borrower; and 
 (viii) the
Borrower shall have delivered any additional documentation reasonably requested by the Administrative Agent or the Lenders providing such Increase. 

(c) Upon the effectiveness of any Increase, (i) all references in this Agreement and any other Loan Document to the Revolving Loans shall
be deemed, unless the context otherwise requires, to include such Increase advanced pursuant to this Section 2.21 and any amendments effected through the Increase Joinder and (ii) all references in this Agreement and
any other Loan Document to the Revolving Commitment shall be deemed, unless the context otherwise requires, to include the commitment to advance an amount equal to such Increase pursuant to this Section 2.21. 

  
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 (d) The Revolving Loans and Revolving Commitments established pursuant to this
Section 2.21 shall constitute Revolving Loans and Revolving Commitments under, and shall be entitled to all the benefits afforded by, this Agreement and the other Loan Documents, and shall, without limiting the foregoing,
benefit equally and ratably from any guarantees and the security interests created by the Loan Documents. The Borrower shall take any actions reasonably required by Administrative Agent to ensure and demonstrate that the Liens and security interests
granted by the Loan Documents continue to be perfected under the UCC or otherwise after giving effect to the establishment of any such new Revolving Commitments. 

2.22 Notes. If so requested by any Lender by written notice to the Borrower (with a copy to the Administrative Agent), the
Borrower shall execute and deliver to such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender pursuant to Section 10.6) (promptly after the Borrower’s
receipt of such notice) a Note or Notes to evidence such Lender’s Loans. 
 SECTION 3 

LETTERS OF CREDIT 
 3.1
L/C Commitment. 
 (a) Subject to the terms and conditions hereof, the Issuing Lender agrees to issue letters of credit
(“Letters of Credit”) for the account of the Borrower (or in the name of Borrower for the account of any Subsidiary) on any Business Day during the Letter of Credit Availability Period in such form as may reasonably be
approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, the Dollar Equivalent of L/C Exposure would exceed the Total
L/C Commitments or the Dollar Equivalent of L/C Exposure on such Letters of Credit would exceed the Available Revolving Commitment at such time. Each Letter of Credit shall (i) be denominated in Dollars (or Foreign Currency if agreed to by the
Administrative Agent and the applicable Issuing Lender) and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the Letter of Credit Maturity Date, provided that any Letter of
Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause
(y) above). 
 (b) The Issuing Lender shall not at any time be obligated to issue any Letter of Credit if: 

(i) such issuance would conflict with, or cause the Issuing Lender or any L/C Lender to exceed any limits imposed by, any applicable
Requirement of Law; 
 (ii) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin
or restrain the Issuing Lender from issuing, amending or reinstating such Letter of Credit, or any law, rule or regulation applicable to the Issuing Lender or any request, guideline or directive (whether or not having the force of law) from any
Governmental Authority with jurisdiction over the Issuing Lender shall prohibit, or request that the Issuing Lender refrain from, the issuance, amendment, renewal or reinstatement of letters of credit generally or such Letter of Credit in particular
or shall impose upon the Issuing Lender with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the Issuing Lender is not otherwise compensated) not in effect on the Closing Date, or shall impose upon the
Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which the Issuing Lender in good faith deems material to it; 

(iii) the Issuing Lender has received written notice from any Lender, the Administrative Agent or the Borrower, at least one
(1) Business Day prior to the requested date of issuance, amendment, renewal or reinstatement of such Letter of Credit, that one or more of the applicable conditions contained in Section 5.2 shall not then be
satisfied; 

  
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 (iv) any requested Letter of Credit is not in form and substance acceptable to the Issuing
Lender, or the issuance, amendment or renewal of a Letter of Credit shall violate any applicable laws or regulations or any applicable policies of the Issuing Lender; 

(v) such Letter of Credit contains any provisions providing for automatic reinstatement of the stated amount after any drawing thereunder; or

 (vi) any Lender is at that time a Defaulting Lender, unless the Issuing Lender has entered into arrangements, including the delivery of
Cash Collateral pursuant to Section 3.10, satisfactory to the Issuing Lender (in its sole discretion) with the Borrower or such Defaulting Lender to eliminate the Issuing Lender’s actual or potential Fronting Exposure
(after giving effect to Section 2.20(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or such Letter of Credit and all other L/C Exposure as to which the
Issuing Lender has actual or potential Fronting Exposure, as it may elect in its sole discretion. 
 3.2 Procedure for Issuance of
Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit for the account of the Borrower by delivering to the Issuing Lender at its address for notices specified herein an Application
therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender may request. Upon receipt of any Application, the Issuing Lender will process such
Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall
the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by
issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by the Issuing Lender and the Borrower. The Issuing Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the
issuance thereof. The Issuing Lender shall promptly furnish to the Administrative Agent, which shall in turn promptly furnish to the Lenders, notice of the issuance of each Letter of Credit (including the amount thereof). 

3.3 Fees and Other Charges. 

(a) The Borrower agrees to pay, with respect to each Existing Letter of Credit and each outstanding Letter of Credit issued for the account of
(or at the request of) the Borrower, (i) a fronting fee of 0.125% per annum on the daily amount available to be drawn under each such Letter of Credit to the Issuing Lender for its own account (a “Letter of Credit Fronting
Fee”), and (ii) a letter of credit fee equal to 1.00% multiplied by the daily amount available to be drawn under each such Letter of Credit on the drawable amount of such Letter of Credit to the Administrative Agent for the
ratable account of the L/C Lenders (determined in accordance with their respective L/C Percentages) (a “Letter of Credit Fee”), in each case payable quarterly in arrears on the last Business Day of March, June, September and
December of each year after the issuance date of such Letter of Credit and on the Letter of Credit Maturity Date (each, an “L/C Fee Payment Date”), and (iii) the Issuing Lender’s standard and reasonable fees with
respect to the issuance, amendment, renewal or extension of any Letter of Credit issued for the account of (or at the request of) the Borrower or processing of drawings thereunder (the fees in this clause (iii), collectively, the “Issuing
Lender Fees”). All Letter of Credit Fronting Fees and Letter of Credit Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. 

  
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 (b) In addition to the foregoing fees, the Borrower shall pay or reimburse the Issuing
Lender for such normal and customary costs and expenses as are incurred or charged by the Issuing Lender in issuing, negotiating, effecting payment under, amending or otherwise administering any Letter of Credit. 

(c) The Borrower shall furnish to the Issuing Lender and the Administrative Agent such other documents and information pertaining to any
requested Letter of Credit issuance, amendment or renewal, including any L/C-Related Documents, as the Issuing Lender or the Administrative Agent may require. This Agreement shall control in the event of any
conflict with any L/C-Related Document (other than any Letter of Credit). 
 (d) Any letter of
credit fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Lender pursuant to
Section 3.10 shall be payable, to the maximum extent permitted by applicable law, to the other L/C Lenders in accordance with the upward adjustments in their respective L/C Percentages allocable to such Letter of Credit
pursuant to Section 2.19(a)(iv), with the balance of such fee, if any, payable to the Issuing Lender for its own account. 

(e) All fees payable under this Section 3.3 shall be fully earned on the date paid and nonrefundable. 

3.4 L/C Participations; Existing Letters of Credit. 

(a) L/C Participations. The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Lender, and, to induce the Issuing
Lender to issue Letters of Credit, each L/C Lender irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing Lender, on the terms and conditions set forth below, for such L/C Lender’s own account and risk an
undivided interest equal to such L/C Lender’s L/C Percentage in the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit and the amount of each draft paid by the Issuing Lender thereunder. Each L/C Lender
agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which the Issuing Lender is not reimbursed in full by the Borrower pursuant to Section 3.5(a), such L/C Lender shall pay to the Issuing
Lender upon demand at the Issuing Lender’s address for notices specified herein an amount equal to such L/C Lender’s L/C Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. Each L/C Lender’s
obligation to pay such amount shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any setoff, counterclaim, recoupment, defense or other right that such L/C Lender may have against the Issuing
Lender, the Borrower or any other Person for any reason whatsoever, (ii) the occurrence of a Default or an Event of Default or the failure to satisfy any of the other conditions specified in Section 5.2, (iii) any
adverse change in the condition (financial or otherwise) of the Borrower, (iv) any breach of this Agreement or any other Loan Document by the Borrower, any other Loan Party or any other L/C Lender, or (v) any other circumstance, happening
or event whatsoever, whether or not similar to any of the foregoing. 
 (b) Existing Letters of Credit. On and after the Closing
Date, the Existing Letters of Credit shall be deemed for all purposes, including for purposes of the fees to be collected pursuant to Sections 3.3(a) and (b), reimbursement of costs and expenses to the extent provided herein and for
purposes of being secured by the Collateral, a Letter of Credit outstanding under this Agreement and entitled to the benefits of this Agreement and the Loan Documents, and shall be governed by the applications and agreements pertaining thereto and
by this Agreement (which shall control in the event of a conflict). 

  
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 3.5 Reimbursement. 

(a) If the Issuing Lender shall make any L/C Disbursement in respect of a Letter of Credit, the Issuing Lender shall notify the Borrower and
the Administrative Agent thereof and the Borrower shall pay or cause to be paid to the Issuing Lender an amount equal to the entire amount of such L/C Disbursement not later than the immediately following Business Day. Each such payment shall be
made to the Issuing Lender at its address for notices referred to herein in Dollars and in immediately available funds. 
 (b) If the
Issuing Lender shall not have received from the Borrower the payment that it is required to make pursuant to Section 3.5(a) with respect to a Letter of Credit within the time specified in such Section, the Issuing Lender
will promptly notify the Administrative Agent of the L/C Disbursement and the Administrative Agent will promptly notify each L/C Lender of such L/C Disbursement and its L/C Percentage thereof, and each L/C Lender shall pay to the Issuing Lender upon
demand at the Issuing Lender’s address for notices specified herein an amount equal to such L/C Lender’s L/C Percentage of such L/C Disbursement (and the Administrative Agent may apply Cash Collateral provided for this purpose); upon such
payment pursuant to this paragraph to reimburse the Issuing Lender for any L/C Disbursement, the Borrower shall be required to reimburse the L/C Lenders for such payments (including interest accrued thereon from the date of such payment until the
date of such reimbursement at the rate applicable to Revolving Loans that are Eurodollar Loans plus 2% per annum) on demand; provided that if at the time of and after giving effect to such payment by the L/C Lenders, the conditions to
borrowings and Revolving Loan Conversions set forth in Section 5.2 are satisfied, the Borrower may, by written notice to the Administrative Agent certifying that such conditions are satisfied and that all interest owing
under this paragraph has been paid, request that such payments by the L/C Lenders be converted into Revolving Loans (a “Revolving Loan Conversion”), in which case, if such conditions are in fact satisfied, the L/C Lenders
shall be deemed to have extended, and the Borrower shall be deemed to have accepted, a Revolving Loan in the aggregate principal amount of such payment without further action on the part of any party; any amount so paid pursuant to this paragraph
shall, on and after the payment date thereof, be deemed to be Revolving Loans for all purposes hereunder; provided that the Issuing Lender, at its option, may effectuate a Revolving Loan Conversion regardless of whether the conditions
to borrowings and Revolving Loan Conversions set forth in Section 5.2 are satisfied. 
 3.6 Obligations
Absolute. The Borrower’s obligations under this Section 3 shall be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that the Borrower may
have or have had against the Issuing Lender, any beneficiary of a Letter of Credit or any other Person. The Borrower also agrees with the Issuing Lender that the Issuing Lender shall not be responsible for, and the Borrower’s obligations
hereunder shall not be affected by, among other things, the validity or genuineness of documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among the
Borrower and any beneficiary of any Letter of Credit or any other party to which such Letter of Credit may be transferred or any claims whatsoever of the Borrower against any beneficiary of such Letter of Credit or any such transferee. The Issuing
Lender shall not be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except for errors or omissions found by a final
and nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of the Issuing Lender. The Borrower agrees that any action taken or omitted by the Issuing Lender under or in connection
with any Letter of Credit or the related drafts or documents, if done in the absence of gross negligence or willful misconduct, shall be binding on the Borrower and shall not result in any liability of the Issuing Lender to the Borrower. 

In addition to amounts payable as elsewhere provided in the Agreement, the Borrower 

  
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hereby agrees to pay and to protect, indemnify, and save Issuing Lender harmless from and against any and all claims, demands, liabilities, damages, losses, costs, charges and expenses (including
reasonable attorneys’ fees and allocated costs of internal counsel) that the Issuing Lender may incur or be subject to as a consequence, direct or indirect, of (A) the issuance of any Letter of Credit, or (B) the failure of Issuing
Lender to honor a demand for payment under any Letter of Credit thereof as a result of any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or Governmental Authority, in each case other than to
the extent solely as a result of the gross negligence or willful misconduct of Issuing Lender (as finally determined by a court of competent jurisdiction). 

3.7 Letter of Credit Payments. If any draft shall be presented for payment under any Letter of Credit, the Issuing Lender shall
promptly notify the Borrower and the Administrative Agent of the date and amount thereof. The responsibility of the Issuing Lender to the Borrower in connection with any draft presented for payment under any Letter of Credit shall, in addition to
any payment obligation expressly provided for in such Letter of Credit, be limited to determining that the documents (including each draft) delivered under such Letter of Credit in connection with such presentment are substantially in conformity
with such Letter of Credit. 
 3.8 Applications. To the extent that any provision of any Application related to any Letter of
Credit is inconsistent with the provisions of this Section 3, the provisions of this Section 3 shall apply. 

3.9 Interim Interest. If the Issuing Lender shall make any L/C Disbursement in respect of a Letter of Credit, then, unless
either the Borrower shall have reimbursed such L/C Disbursement in full within the time period specified in Section 3.5(a) or the L/C Lenders shall have reimbursed such L/C Disbursement in full on such date as provided in
Section 3.5(b), the unpaid amount thereof shall bear interest for the account of the Issuing Lender, for each day from and including the date of such L/C Disbursement to but excluding the date of payment by the Borrower or
reimbursement by an L/C Lender, at the rate per annum that would apply to such amount if such amount were a Revolving Loan that is a Eurodollar Loan; provided that the provisions of Section 2.11(c) shall be
applicable to any such amounts not paid when due. 
 3.10 Cash Collateral. 

(a) Certain Credit Support Events. Upon the request of the Administrative Agent or the Issuing Lender (i) if the Issuing Lender
has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Advance by all the L/C Lenders that is not reimbursed by the Borrower or converted into a Revolving Loan pursuant to
Section 3.5(b), or (ii) if, as of the Letter of Credit Maturity Date, any L/C Exposure for any reason remains outstanding, the Borrower shall, in each case, immediately Cash Collateralize the then effective L/C
Exposure (or, in the case of item (i), the portion of the L/C Exposure relating to the relevant Letter of Credit) in an amount equal to 105% of such L/C Exposure (110% in the case of any Letter of Credit in a currency other than Dollars). 

At any time that there shall exist a Defaulting Lender, within one (1) Business Day following the request of the Administrative Agent or
the Issuing Lender (with a copy to the Administrative Agent), the Borrower shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover 105% (110% in the case of any Letter of Credit in a currency other than Dollars) of
the Fronting Exposure relating to the Letters of Credit (after giving effect to Section 2.20(a)(iv) and any Cash Collateral provided by such Defaulting Lender). 

(b) Grant of Security Interest. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be
maintained in blocked, non-interest bearing deposit accounts with the Administrative Agent. The Borrower, and to the extent provided by any Lender or Defaulting

  
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Lender, such Lender or Defaulting Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Lender and the L/C
Lenders, and agrees to maintain, a first priority security interest and Lien in all such Cash Collateral and in all proceeds thereof, as security for the Obligations to which such Cash Collateral may be applied pursuant to
Section 3.10(c). If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent or any Issuing Lender as herein provided, or that
the total amount of such Cash Collateral is less than 105% (110% in the case of any Letter of Credit in a currency other than Dollars) of the applicable L/C Exposure, Fronting Exposure and other Obligations secured thereby, the Borrower or the
relevant Lender or Defaulting Lender, as applicable, will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after giving
effect to any Cash Collateral provided by such Defaulting Lender). 
 (c) Application. Notwithstanding anything to the contrary
contained in this Agreement, Cash Collateral provided under any of this Section 3.10, Section 2.20 or otherwise in respect of Letters of Credit shall be held and applied to the satisfaction of the
specific L/C Exposure, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior
to any other application of such property as may otherwise be provided for herein. 
 (d) Termination of Requirement. Cash Collateral
(or the appropriate portion thereof) provided to reduce Fronting Exposure in respect of Letters of Credit or other Obligations shall no longer be required to be held as Cash Collateral pursuant to this Section 3.10
following (i) the elimination of the applicable Fronting Exposure and other Obligations giving rise thereto (including by the termination of the Defaulting Lender status of the applicable Lender), or (ii) a determination by the
Administrative Agent and the Issuing Lender that there exists excess Cash Collateral; provided, however, (A) that Cash Collateral furnished by or on behalf of a Loan Party shall not be released during the continuance of an Event
of Default, and (B) that, subject to Section 2.20, the Person providing such Cash Collateral and the Issuing Lender may agree that such Cash Collateral shall not be released but instead shall be held to support
future anticipated Fronting Exposure or other obligations, and provided further, that to the extent that such Cash Collateral was provided by the Borrower or any other Loan Party, such Cash Collateral shall remain subject to any
security interest and Lien granted pursuant to the Loan Documents including any applicable Cash Management Agreement. 
 3.11
Additional Issuing Lenders. The Borrower may, at any time and from time to time with the consent of the Administrative Agent (which consent shall not be unreasonably withheld) and such Lender, designate one or more additional Lenders to act
as an issuing bank under the terms of this Agreement. Any Lender designated as an issuing bank pursuant to this paragraph shall be deemed to be an “Issuing Lender” (in addition to being a Lender) in respect of Letters of
Credit issued or to be issued by such Lender, and, with respect to such Letters of Credit, such term shall thereafter apply to the other Issuing Lender and such Lender. 

3.12 Resignation of the Issuing Lender. The Issuing Lender may resign at any time by giving at least 30 days’ prior written
notice to the Administrative Agent, the Lenders and the Borrower. Subject to the next succeeding paragraph, upon the acceptance of any appointment as the Issuing Lender hereunder by a Lender that shall agree to serve as successor Issuing Lender,
such successor shall succeed to and become vested with all the interests, rights and obligations of the retiring Issuing Lender and the retiring Issuing Lender shall be discharged from its obligations to issue additional Letters of Credit hereunder
without affecting its rights and obligations with respect to Letters of Credit previously issued by it. At the time such resignation shall become effective, the Borrower shall pay all accrued and unpaid fees pursuant to
Section 3.3. The acceptance of any appointment as the Issuing Lender hereunder by a successor Lender 

  
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shall be evidenced by an agreement entered into by such successor, in a form satisfactory to the Borrower and the Administrative Agent, and, from and after the effective date of such agreement,
(i) such successor Lender shall have all the rights and obligations of the previous Issuing Lender under this Agreement and the Loan Documents and (ii) references herein and in the Loan Documents to the term “Issuing Lender”
shall be deemed to refer to such successor or to any previous Issuing Lender, or to such successor and all previous Issuing Lenders, as the context shall require. After the resignation of the Issuing Lender hereunder, the retiring Issuing Lender
shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Lender under this Agreement and the Loan Documents with respect to Letters of Credit issued by it prior to such resignation, but shall not be
required to issue additional Letters of Credit or to extend, renew or increase any existing Letter of Credit. 
 3.13
Applicability of ISP. Unless otherwise expressly agreed by the Issuing Lender and the Borrower when a Letter of Credit is issued and subject to applicable laws, the Letters of Credit shall be governed by and subject to the rules of the ISP.

 SECTION 4 

REPRESENTATIONS AND WARRANTIES 

To induce the Administrative Agent and the Lenders to enter into this Agreement and to make the Loans and issue the Letters of Credit, the
Borrower hereby represents and warrants to the Administrative Agent and each Lender, as to itself and each of its Subsidiaries, that: 

4.1 Financial Condition. 

(a) [Reserved] 
 (b) The audited
consolidated balance sheets of the Borrower and its Subsidiaries as of December 31, 2018 and the related consolidated statements of income and of cash flows for the fiscal years ended on such dates, reported on by and accompanied by an
unqualified report from Grant Thornton present fairly in all material respects the consolidated financial condition of the Borrower and its Subsidiaries as at such date, and the consolidated results of its operations and its consolidated cash flows
for the respective fiscal years then ended. The unaudited consolidated balance sheet of the Borrower and its Subsidiaries as at July 31, 2020, and the related unaudited consolidated statements of income and cash flows for the six (6) month
period ended on such date, present fairly in all material respects the consolidated financial condition of the Borrower and its Subsidiaries as at such date, and the consolidated results of its operations and its consolidated cash flows for the six
(6) month period then ended (subject to normal year-end audit adjustments). All such financial statements, including the related schedules and notes thereto, have been prepared in accordance with GAAP
applied consistently throughout the periods involved (except as approved by the aforementioned firm of accountants and disclosed therein). No Group Member has, as of the Closing Date, any material Guarantee Obligations, contingent liabilities and
liabilities for taxes, or any long-term leases or unusual forward or long-term commitments, including any interest rate or foreign currency swap or exchange transaction
or other obligation in respect of derivatives, that are not reflected in the most recent financial statements referred to in this paragraph. During the period from December 31, 2018 to and including the date hereof, there has been no
Disposition by any Group Member of any material part of its business or property. 
 4.2 No Change. Since December 31,
2018, there has been no development or event that has had or could reasonably be expected to have a Material Adverse Effect. 
 4.3
Existence; Compliance with Law. Each Group Member (a) is duly organized or formed, validly existing and in good standing under the laws of the jurisdiction of its organization, (b) has the power

  
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and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged, (c) is duly
qualified as a foreign corporation or other organization and in good standing under the laws of each jurisdiction where the failure to be so qualified could reasonably be expected to have a Material Adverse Effect and (d) is in material
compliance with all Requirements of Law except in such instances in which (i) such Requirement of Law is being contested in good faith by appropriate proceedings diligently conducted and the prosecution of such contest would not reasonably be
expected to result in a Material Adverse Effect, or (ii) the failure to comply therewith, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 

4.4 Power, Authorization; Enforceable Obligations. Each Loan Party has the power and authority, and the legal right, to make,
deliver and perform the Loan Documents to which it is a party and, in the case of the Borrower, to obtain extensions of credit hereunder. Each Loan Party has taken all necessary organizational action to authorize the execution, delivery and
performance of the Loan Documents to which it is a party and, in the case of the Borrower, to authorize the extensions of credit on the terms and conditions of this Agreement. No Governmental Approval or consent or authorization of, filing with,
notice to or other act by or in respect of, any other Person is required in connection with the extensions of credit hereunder or with the execution, delivery, performance, validity or enforceability of this Agreement or any of the Loan Documents,
except (i) Governmental Approvals, consents, authorizations, filings and notices described on Schedule 4.4, which Governmental Approvals, consents, authorizations, filings and notices have been obtained or made and are in full force and
effect, (ii) the filings referred to in Section 4.19 and (iii) Governmental Approvals described on Schedule 4.4. Each Loan Document has been duly executed and delivered on behalf of each Loan Party party
thereto. This Agreement constitutes, and each other Loan Document upon execution will constitute, a legal, valid and binding obligation of each Loan Party party thereto, enforceable against each such Loan Party in accordance with its terms, except
as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by
proceedings in equity or at law). 
 4.5 No Legal Bar. The execution, delivery and performance of this Agreement and the other
Loan Documents, the issuance of Letters of Credit, the borrowings hereunder and the use of the proceeds thereof will not violate any Requirement of Law (except as set forth on Schedule 4.5) or any material Contractual
Obligation of any Group Member and will not result in, or require, the creation or imposition of any Lien on any of their respective properties or revenues pursuant to any Requirement of Law or any such Contractual Obligation (other than the Liens
created by the Security Documents). No Group Member has violated any Requirement of Law or violated or failed to comply with any Contractual Obligation applicable to the Borrower or any of its Subsidiaries that could reasonably be expected to have a
Material Adverse Effect. The absence of obtaining the Governmental Approvals described on Schedule 4.4 and the violations of Requirements of Law referenced on Schedule 4.5 shall not have an adverse
effect on any rights of the Lenders or the Administrative Agent pursuant to the Loan Documents. 
 4.6 Litigation. No
litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of the Borrower, threatened by or against any Group Member or against any of their respective properties or revenues
(a) with respect to any of the Loan Documents or any of the transactions contemplated hereby or thereby, or (b) that could reasonably be expected to have a Material Adverse Effect. 

4.7 No Default. No Group Member is in default under or with respect to any of its Contractual Obligations in any respect that
could reasonably be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing, nor shall either result from the making of a requested credit extension. 

  
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 4.8 Ownership of Property; Liens; Investments. Each Group Member has title in
fee simple to, or a valid leasehold interest in, all of its material real property, and good title to, or a valid leasehold interest in, all of its material other property, and none of such property is subject to any Lien except as permitted by
Section 7.3. No Loan Party owns any Investment except as permitted by Section 7.8. 
 4.9
Intellectual Property. Borrower and each of its Subsidiaries is the sole owner of the Intellectual Property which it owns or purports to own except for (i) non-exclusive licenses granted to its
customers in the ordinary course of business and (ii) UiPath Non-Core Products. No part of the Intellectual Property related to any UiPath Core Product has been judged invalid or unenforceable, in whole
or in part. To the best of Borrower’s knowledge, other than as disclosed to the Administrative Agent (which promptly will disclose such information to the Lenders), no claim has been made against any UiPath Core Product that any part of the
related Intellectual Property violates the rights of any third party except to the extent such claim would not reasonably be expected to have a material adverse effect on Borrower’s business. Except as noted on the Perfection Certificate or as
otherwise disclosed to the Administrative Agent (which promptly will disclose such information to the Lenders) in accordance with Section 6.11(b), Borrower is not a party to, nor is it bound by, any Restricted License. 

4.10 Taxes. Each Group Member has filed or caused to be filed all Federal, state and other material tax returns that are
required to be filed and has paid all taxes shown to be due and payable on said returns or on any assessments made against it or any of its property and all other taxes, fees or other charges imposed on it or any of its property by any Governmental
Authority (other than the amount or validity of which are currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity with GAAP have been provided on the books of the relevant Group Member); no
tax Lien has been filed, and, to the knowledge of the Borrower, no claim is being asserted, with respect to any such tax, fee or other charge. 

4.11 Federal Regulations. The Borrower is not engaged and will not engage, principally or as one of its important activities, in
the business of “buying” or “carrying” “margin stock” (within the respective meanings of each of the quoted terms under Regulation U as now and from time to time hereafter in effect) or extending credit for the purpose
of purchasing or carrying margin stock. No part of the proceeds of any Loans, and no other extensions of credit hereunder, will be used for buying or carrying any such margin stock or for extending credit to others for the purpose of purchasing or
carrying margin stock in violation of Regulations T, U or X of the Board. If any margin stock directly or indirectly constitutes Collateral securing the Obligations, if requested by any Lender or the Administrative Agent, the Borrower will furnish
to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form G-3 or FR Form U-1, as applicable,
referred to in Regulation U. 
 4.12 Labor Matters. Except as, in the aggregate, could not reasonably be expected to have
a Material Adverse Effect: (a) there are no strikes or other labor disputes against any Group Member pending or, to the knowledge of the Borrower, threatened; (b) hours worked by and payment made to employees of each Group Member have not
been in violation of the Fair Labor Standards Act or any other applicable Requirement of Law dealing with such matters; and (c) all payments due from any Group Member on account of employee health and welfare insurance have been paid or accrued
as a liability on the books of the relevant Group Member. 
 4.13 ERISA. Except as, in the aggregate, could not reasonably be
expected to have a Material Adverse Effect, 
 (a) [reserved]; 

  
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 (b) the Borrower and its ERISA Affiliates are in compliance in all material respects with
all applicable provisions and requirements of ERISA with respect to each Plan, and have performed all their obligations under each Plan; 

(c) no ERISA Event has occurred or is reasonably expected to occur; 

(d) the Borrower and each of its ERISA Affiliates have met all applicable requirements under the ERISA Funding Rules with respect to each
Pension Plan, and no waiver of the minimum funding standards under the ERISA Funding Rules has been applied for or obtained; 
 (e) as of
the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is at least 60%, and neither the Borrower nor any of its ERISA Affiliates knows of any facts or
circumstances that could reasonably be expected to cause the funding target attainment percentage to fall below 60% as of the most recent valuation date; 

(f) except to the extent required under Section 4980B of the Code, or as described on Schedule 4.13, no Plan
provides health or welfare benefits (through the purchase of insurance or otherwise) for any retired or former employee of the Borrower or any of its ERISA Affiliates; 

(g) as of the most recent valuation date for any Pension Plan, the amount of outstanding benefit liabilities (as defined in
Section 4001(a)(18) of ERISA), individually or in the aggregate for all Pension Plans (excluding for purposes of such computation any Pension Plans with respect to which assets exceed benefit liabilities), does not exceed $250,000; 

(h) the execution and delivery of this Agreement and the consummation of the transactions contemplated hereunder will not involve any
transaction that is subject to the prohibitions of Section 406 of ERISA or in connection with which taxes could be imposed pursuant to Section 4975(c)(1)(A)-(D) of the Code; 

(i) all liabilities under each Plan are (i) funded to at least the minimum level required by law or, if higher, to the level required by
the terms governing the Plans, (ii) insured with a reputable insurance company, (iii) provided for or recognized in the financial statements most recently delivered to the Administrative Agent and the Lenders pursuant hereto or
(iv) estimated in the formal notes to the financial statements most recently delivered to the Administrative Agent and the Lenders pursuant hereto; 

(j) there are no circumstances which may give rise to a liability in relation to any Plan which is not funded, insured, provided for,
recognized or estimated in the manner described in clause (g); and 
 (k) (i) the Borrower is not and will not be a “plan” within
the meaning of Section 4975(e) of the Code; (ii) the assets of the Borrower do not and will not constitute “plan assets” within the meaning of the United States Department of Labor Regulations set forth in 29 C.F.R. §2510.3-101; (iii) the Borrower is not and will not be a “governmental plan” within the meaning of Section 3(32) of ERISA; and (iv) transactions by or with the Borrower are not and will
not be subject to state statutes applicable to the Borrower regulating investments of fiduciaries with respect to governmental plans. 

4.14 Investment Company Act; Other Regulations. 

(a) No Loan Party is an “investment company,” or a company “controlled” by an “investment company,” within the
meaning of the Investment Company Act of 1940, as amended. Except as set forth on Schedule 4.5, no Loan Party is subject to regulation under any Requirement of Law (other than Regulation X of the Board) that limits its
ability to incur Indebtedness or which may otherwise render all or any portion of the Obligations unenforceable. 

  
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 (b) With respect to each scheme or arrangement mandated by a government other than the
United States (a “Foreign Government Scheme or Arrangement”) and with respect to each employee benefit plan maintained or contributed to by any Subsidiary that is not subject to United States law (a “Foreign
Plan”): 
 (i) any employer and employee contributions required by law or by the terms of any Foreign Government Scheme or
Arrangement or any Foreign Plan have been made, or, if applicable, accrued, in accordance with normal accounting practices; 
 (ii) the
fair market value of the assets of each funded Foreign Plan, the liability of each insurer for any Foreign Plan funded through insurance or the book reserve established for any Foreign Plan, together with any accrued contributions, is sufficient to
procure or provide for the accrued benefit obligations, as of the date hereof, with respect to all current and former participants in such Foreign Plan according to the actuarial assumptions and valuations most recently used to account for such
obligations in accordance with applicable generally accepted accounting principles; and 
 (iii) each Foreign Plan required to be
registered has been registered and has been maintained in good standing with applicable regulatory authorities. 
 4.15
Subsidiaries. 
 (a) Except as disclosed to the Administrative Agent (which promptly will disclose such information to the Lenders)
by the Borrower in writing from time to time after the Closing Date, (a) Schedule 4.15 sets forth the name and jurisdiction of organization of each Subsidiary of the Borrower and, as to each such Subsidiary, the
percentage of each class of Capital Stock owned by any Loan Party, and (b) there are no outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments (other than stock options granted to employees or directors
and directors’ qualifying shares) of any nature relating to any Capital Stock of the Borrower or any Subsidiary, except as may be created by the Loan Documents. 

(b) Borrower has no Immaterial Subsidiaries except as noted on the Perfection Certificate or otherwise disclosed to the Administrative Agent
(which promptly will disclose such information to the Lenders) in accordance with Section 6.12(c). 
 4.16
Use of Proceeds. The proceeds of the Revolving Loans shall be used to refinance the obligations of the Borrower outstanding under the Existing Credit Facility and to pay related fees and expenses and for general corporate purposes (including
for the avoidance of doubt working capital needs). All or a portion of the proceeds of the Revolving Loans, Swingline Loans, the Letters of Credit, and any Increase funded pursuant to Section 2.21, shall be used for general
corporate purposes (including for the avoidance of doubt working capital needs). 
 4.17 Environmental Matters. Except as, in
the aggregate, could not reasonably be expected to have a Material Adverse Effect:  
 (a) The facilities and properties owned,
leased or operated by any Group Member (the “Properties”) do not contain, and have not previously contained, any Materials of Environmental Concern in amounts or concentrations or under circumstances that constitute or have
constituted a violation of, or could give rise to liability under, any Environmental Law; 

  
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 (b) no Group Member has received or is aware of any notice of violation, alleged violation, non-compliance, liability or potential liability regarding environmental matters or compliance with Environmental Laws with regard to any of the Properties or the business operated by any Group Member (the
“Business”), nor does the Borrower have knowledge or reason to believe that any such notice will be received or is being threatened; 

(c) no Group Member has transported or disposed of Materials of Environmental Concern from the Properties in violation of, or in a manner or
to a location that could give rise to liability under, any Environmental Law, nor has any Group Member generated, treated, stored or disposed of Materials of Environmental Concern at, on or under any of the Properties in violation of, or in a manner
that could give rise to liability under, any applicable Environmental Law; 
 (d) no judicial proceeding or governmental or administrative
action is pending or, to the knowledge of the Borrower, threatened, under any Environmental Law to which any Group Member is or will be named as a party with respect to the Properties or the Business, nor are there any consent decrees or other
decrees, consent orders, administrative orders or other orders, or other administrative or judicial requirements outstanding under any Environmental Law with respect to the Properties or the Business; 

(e) there has been no release or threat of release of Materials of Environmental Concern at or from the Properties arising from or related to
the operations of any Group Member or otherwise in connection with the Business, in violation of or in amounts or in a manner that could give rise to liability under Environmental Laws; 

(f) the Properties and all operations of the Group Members at the Properties are in compliance, and have in the last five years been in
compliance, with all applicable Environmental Laws, and to the knowledge of the Borrower, there is no contamination at, under or about the Properties or violation of any Environmental Law with respect to the Properties or the Business; and 

(g) no Group Member has assumed any liability of any other Person under Environmental Laws. 

4.18 Accuracy of Information, etc. No statement or information contained in this Agreement, any other Loan Document or any other
document, certificate or statement furnished by or on behalf of any Loan Party to the Administrative Agent or the Lenders, or any of them, for use in connection with the transactions contemplated by this Agreement or the other Loan Documents, when
taken as a whole, contained as of the date such statement, information, document or certificate was so furnished, any untrue statement of a material fact or omitted to state a material fact necessary to make the statements contained herein or
therein (when taken as a whole), in the light of the circumstances under which they were made, not misleading. The projections and pro forma financial information contained in the materials referenced above are based upon good faith estimates
and assumptions believed by management of the Borrower to be reasonable at the time made, it being recognized by the Lenders that such financial information as it relates to future events is not to be viewed as fact and that actual results during
the period or periods covered by such financial information may differ from the projected results set forth therein by a material amount. There is no fact known to any Loan Party that could reasonably be expected to have a Material Adverse Effect
that has not been expressly disclosed herein, in the other Loan Documents or in any other documents, certificates and statements furnished to the Administrative Agent and the Lenders for use in connection with the transactions contemplated hereby
and by the other Loan Documents. 

  
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 4.19 Security Documents. 

(a) The Guarantee and Collateral Agreement is effective to create in favor of the Administrative Agent, for the benefit of the Secured
Parties, a legal, valid and enforceable security interest in the Collateral described therein and proceeds thereof. In the case of the Pledged Stock described in the Guarantee and Collateral Agreement that are securities represented by stock
certificates or otherwise constituting certificated securities within the meaning of Section 8-102(a)(15) of the UCC or the corresponding code or statute of any other applicable jurisdiction
(“Certificated Securities”), when certificates representing such Pledged Stock are delivered to the Administrative Agent, and in the case of the other Collateral constituting personal property described in the Guarantee and
Collateral Agreement, when financing statements and other filings specified on Schedule 4.19(a) in appropriate form are filed in the offices specified on Schedule 4.19(a), the Administrative Agent,
for the benefit of the Secured Parties, shall have a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Collateral and the proceeds thereof, as security for the Obligations, in each case
prior and superior in right to any other Person (except, in the case of Collateral other than Pledged Stock, Liens permitted by Section 7.3). As of the Closing Date, none of the Borrower or any Guarantor that is a limited
liability company or partnership has any Capital Stock that is a Certificated Security. 
 (b) Each of the Mortgages delivered after the
Closing Date will be, upon execution, effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable Lien on the Mortgaged Properties described therein and proceeds thereof, and when
the Mortgages are filed in the offices for the applicable jurisdictions in which the Mortgaged Properties are located, each such Mortgage shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan
Parties in the Mortgaged Properties and the proceeds thereof, as security for the Obligations (as defined in the relevant Mortgage), in each case prior and superior in right to any other Person. 

4.20 Solvency; Voidable Transaction. Each Loan Party is, and after giving effect to the incurrence of all Indebtedness,
Obligations and obligations being incurred in connection herewith, will be and will continue to be, Solvent. No transfer of property is being made by any Loan Party and no obligation is being incurred by any Loan Party in connection with the
transactions contemplated by this Agreement or the other Loan Documents with the intent to hinder, delay, or defraud either present or future creditors of such Loan Party. 

4.21 [Reserved]. 

4.22 [Reserved]. 

4.23 [Reserved]. 

4.24 Insurance. All insurance maintained by the Loan Parties is in full force and effect, all premiums have been duly paid, no
Loan Party has received notice of violation or cancellation thereof, and there exists no default under any requirement of such insurance. Each Loan Party maintains insurance with financially sound and reputable insurance companies on all its
property (and also with respect to its foreign receivables) in at least such amounts and against at least such risks (but including in any event public liability, product liability, and business interruption) as are usually insured against in the
same general area by companies engaged in the same or a similar business. 
 4.25 No Casualty. No Loan Party has received any
notice of, nor does any Loan Party have any knowledge of, the occurrence or pendency or contemplation of any Casualty Event affecting all or any material portion of its property that could reasonably be expected to have a Material Adverse Effect.

  
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 4.26 Contracts. 

(a) To the extent any Contract is designated in any Borrowing Base Certificate as an “Eligible Software License Contract”, such
Contract constitutes an Eligible Software License Contract as of the date of such Borrowing Base Certificate. 
 (b) All statements made and
all unpaid balances appearing in all invoices, instruments and other documents evidencing the Eligible Software License Contracts are and shall be true and correct and all such invoices, instruments and other documents, and all of the Borrowing Base
Entities’ books and records are genuine and in all respects what they purport to be. All sales and other transactions underlying or giving rise to each Eligible Software License Contracts shall comply in all material respects with all
applicable laws and governmental rules and regulations. Borrower has no knowledge of any actual or imminent insolvency proceeding of any Account Debtor whose accounts are included in the Borrowing Base calculation as Eligible Software License
Contracts. To the best of the Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Software License Contracts are genuine, and all such documents, instruments and
agreements are legally enforceable in accordance with their terms. The applicable Borrowing Base Entity is the owner of and has legal right to sell, transfer, assign and encumber each Eligible Software License Contracts, and there are no offsets,
counterclaims or agreements for which the Account Debtor may claim any deduction or discount that are not deducted in the Borrowing Base. 

4.27 [Reserved]. 

4.28 OFAC. Neither the Borrower, nor any of its Subsidiaries, nor, to the knowledge of the Borrower, any director, officer,
employee, agent, affiliate or representative thereof, is an individual or an entity that is, or is owned or controlled by an individual or entity that is (a) currently the subject of any Sanctions, or (b) located, organized or resident in
a Designated Jurisdiction. 
 4.29 Anti-Corruption Laws. The Borrower and its Subsidiaries have conducted their businesses in
compliance with applicable Sanctions and anti-corruption laws and have instituted and maintained policies and procedures designed to promote and achieve compliance with such laws. 

SECTION 5 
 CONDITIONS
PRECEDENT 
 5.1 Conditions to Initial Extension of Credit. The effectiveness of this Agreement and the obligation of each
Lender to make its initial extension of credit hereunder shall be subject to the satisfaction, prior to or on the Closing Date, of the following conditions precedent: 

(a) Loan Documents. The Administrative Agent shall have received each of the following, each of which shall be in form and substance
satisfactory to the Administrative Agent: 
 (i) this Agreement, executed and delivered by the Administrative Agent, the Borrower and each
Lender listed on Schedule 1.1A; 
 (ii) the Perfection Certificate, executed by a Responsible Officer; 

(iii) if required by any Revolving Lender, a Revolving Loan Note executed by the Borrower in favor of such Revolving Lender; 

  
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 (iv) if required by the Swingline Lender, the Swingline Loan Note executed by the Borrower
in favor of such Swingline Lender; 
 (v) the Guarantee and Collateral Agreement, executed and delivered by each Grantor named therein;

 (vi) subject to Section 5.3, each other Security Document, executed and delivered by the applicable Loan Party
party thereto; and 
 (vii) the Flow of Funds Agreement, executed by the Borrower. 

(b) [Reserved]. 
 (c)
Financial Statements; Projections. The Lenders shall have received (i) all the financial statements referenced in Section 4.1 and (ii) unaudited consolidating balance sheet of the Borrower and its
consolidated Subsidiaries as at the end of the most recently completed fiscal quarter and the related unaudited consolidating statements of income and of cash flows for such fiscal quarter and the portion of the fiscal year through the end of such
fiscal quarter. 
 (d) Approvals. Except for the Governmental Approvals described on Schedule 4.4, all Governmental
Approvals and consents and approvals of, or notices to, any other Person (including the holders of any Capital Stock issued by any Loan Party) required in connection with the execution and performance of the Loan Documents, the consummation
of the transactions contemplated hereby, shall have been obtained and be in full force and effect. 
 (e) Secretary’s or Managing
Member’s Certificates; Certified Operating Documents; Good Standing Certificates. The Administrative Agent shall have received (i) a certificate of each Loan Party, dated the Closing Date and executed by the Secretary, Managing Member
or equivalent officer of such Loan Party, substantially in the form of Exhibit C, with appropriate insertions and attachments, including (A) the Operating Documents of such Loan Party, (B) the relevant board
resolutions or written consents of such Loan Party adopted by such Loan Party for the purposes of authorizing such Loan Party to enter into and perform the Loan Documents to which such Loan Party is party and (C) the names, titles, incumbency
and signature specimens of those representatives of such Loan Party who have been authorized by such resolutions and/or written consents to execute Loan Documents on behalf of such Loan Party, and (ii) a long form good standing certificate for
each Loan Party from its respective jurisdiction of organization and certificates of qualification as a foreign corporation in each jurisdiction for which failure to be so qualified would have a Material Adverse Effect. 

(f) Responsible Officer’s Certificates.  

(i) The Administrative Agent shall have received a certificate signed by a Responsible Officer, in form and substance reasonably satisfactory
to it, either (A) attaching copies of all consents, licenses and approvals required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan Documents to which it is
party, and such consents, licenses and approvals shall be in full force and effect, or (B) stating that no such consents, licenses or approvals are so required. 

(ii) The Administrative Agent shall have received a certificate signed by a Responsible Officer, dated as of the Closing Date and in form and
substance reasonably satisfactory to it, certifying (A) that the conditions specified in Sections 5.2(a) and (e) have been satisfied, and (B) that there has been no event or circumstance since December 31, 2018,
that has had or that could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

  
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 (g) Patriot Act, etc. The Administrative Agent and each Lender shall have received,
prior to the Closing Date, all documentation and other information requested to comply with applicable “know your customer” and anti-money-laundering rules and regulations, including the Patriot Act, and a properly completed and signed IRS
Form W-8 or W-9, as applicable, for each Loan Party. 
 (h)
[Reserved]. 
 (i) [Reserved]. 

(j) Existing Credit Facility, Etc. (A) The Borrower shall have provided notice to the Existing Lender (in accordance with the
terms of the Existing Credit Facility) of its intent to pay all obligations of the Group Members outstanding under the Existing Credit Facility on the Closing Date, (B) the Administrative Agent shall have received the Payoff Letter executed by
the Existing Lender and the Borrower, (C) all obligations of the Group Members in respect of the Existing Credit Facility shall, substantially contemporaneously with the funding of certain Loan proceeds on the Closing Date directly to the
Existing Lender as contemplated by Sections 2.2 and the Flow of Funds Agreement, be paid in full, (D) the Administrative Agent shall be satisfied that all actions necessary to terminate the agreements evidencing the obligations of the
Group Members in respect of the Existing Credit Facility and the Liens of the Existing Lender in the assets of the Group Members securing obligations under the Existing Credit Facility shall have been, or substantially contemporaneously with the
Closing Date, shall be, taken, and (E) the Administrative Agent shall have received such other documents and information related to the Existing Credit Facility and the refinancing thereof as it may request. 

(k) Collateral Matters. 

(i) Lien Searches. The Administrative Agent shall have received the results of recent lien, judgement and litigation searches
reasonably required by the Administrative Agent, and such searches shall reveal no liens on any of the assets of the Loan Parties except for Liens permitted by Section 7.3, or Liens to be discharged on or prior to the
Closing Date. 
 (ii) Pledged Stock; Stock Powers; Pledged Notes. Subject to Section 5.3, the
Administrative Agent shall have received (A) the certificates (if any) representing the shares of Capital Stock pledged to the Administrative Agent (for the ratable benefit of the Secured Parties) pursuant to the Guarantee and Collateral
Agreement, together with an undated stock power for each such certificate executed in blank by a duly authorized officer of the pledgor thereof, and (B) each promissory note (if any) pledged to the Administrative Agent (for the ratable benefit
of the Secured Parties) pursuant to the Guarantee and Collateral Agreement, endorsed (without recourse) in blank (or accompanied by an executed transfer form in blank) by the pledgor thereof. 

(iii) Filings, Registrations, Recordings, Agreements, Etc. Other than with respect to the Control Agreements to be delivered in
accordance with Section 5.3(a), each document (including any UCC financing statements) required by the Security Documents or under law or reasonably requested by the Administrative Agent to be filed, registered or recorded
to create in favor of the Administrative Agent (for the ratable benefit of the Secured Parties), a perfected Lien on the Collateral described therein, prior and superior in right and priority to any Lien in the Collateral held by any other Person
(other than with respect to Liens expressly permitted by Section 7.3), shall have been executed and delivered to the Administrative Agent or, as applicable, be in proper form for filing, registration or recordation. 

  
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 (l) Insurance. Subject to Section 5.3, the Administrative
Agent shall have received insurance certificates and endorsements satisfying the requirements of Section 6.6 hereof and Section 5.2(b) of the Guarantee and Collateral Agreement, together with evidence reasonably
satisfactory to the Administrative Agent that the third-party liability insurance policies of each Loan Party have been endorsed for the purpose of naming the Administrative Agent (for the ratable benefit of the Secured Parties) as an
“additional insured”, with respect to such third-party liability insurance policies, in form and substance satisfactory to the Administrative Agent. 

(m) Fees. The Lenders and the Administrative Agent shall have received all fees required to be paid on or prior to the Closing Date
(including pursuant to the Fee Letter), and all reasonable and documented fees and expenses for which invoices have been presented at least two (2) Business Days prior to the Closing Date (including the reasonable and documented fees and
expenses of legal counsel to the Administrative Agent) for payment on or before the Closing Date. All such amounts will be paid with proceeds of Loans made on the Closing Date and will be reflected in the Flow of Funds Agreement. 

(n) Legal Opinions. The Administrative Agent shall have received the executed legal opinion of Clifford Chance US LLP, counsel to the
Loan Parties, in form and substance reasonably satisfactory to the Administrative Agent. Such legal opinions shall cover such matters incident to the transactions contemplated by this Agreement and the other Loan Documents as the Administrative
Agent may reasonably require. 
 (o) [Reserved.] 

(p) [Reserved.] 
 (q)
[Reserved.] 
 (r) [Reserved.] 

(s) Solvency Certificate. The Administrative Agent shall have received a Solvency Certificate from the chief financial officer or
treasurer of the Borrower. 
 (t) No Material Adverse Effect. There shall not have occurred since December 31, 2018 any event or
condition that has had or could be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect. 
 (u) No
Litigation. No litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of any Group Member, threatened, that could reasonably be expected to have a Material Adverse Effect. 

For purposes of determining compliance with the conditions specified in this Section 5.1, each Lender that has
executed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter either sent (or made available) by the Administrative Agent to such Lender for consent, approval, acceptance or
satisfaction, or required thereunder to be consented to or approved by or acceptable or satisfactory to such Lender, unless an officer of the Administrative Agent responsible for the transactions contemplated by this Agreement and the Loan Documents
shall have received notice from such Lender prior to the Closing Date specifying such Lender’s objection thereto and either such objection shall not have been withdrawn by notice to the Administrative Agent to that effect on or prior to the
Closing Date or, if any extension of credit on the Closing Date has been requested, such Lender shall not have made available to the Administrative Agent on or prior to the Closing Date such Lender’s Revolving Percentage of such requested
extension of credit. 

  
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 5.2 Conditions to Each Extension of Credit. The agreement of each Lender to
make any extension of credit requested to be made by it on any date (including its initial extension of credit) is subject to the satisfaction of the following conditions precedent: 

(a) Representations and Warranties. Each of the representations and warranties made by each Loan Party in or pursuant to this Agreement
or any Loan Document (i) that is qualified by materiality shall be true and correct, and (ii) that is not qualified by materiality, shall be true and correct in all material respects, in each case, on and as of such date as if made on and
as of such date, except to the extent any such representation and warranty expressly relates to an earlier date, in which case such representation and warranty shall have been true and correct in all material respects (or in all respects, if
qualified by materiality, as applicable) as of such earlier date. 
 (b) Borrowing Base Certificate. With respect to any requests for
any extension of credit while Borrower is in a Borrowing Base Period, the Borrower shall have delivered to the Administrative Agent (which shall promptly provide the same to the Lenders) a duly executed original Borrowing Base Certificate. 

(c) Availability. With respect to any requests for any extension of credit, after giving effect to such extension of credit, the
availability and borrowing limitations specified in Section 2.1 shall be complied with. 
 (d) Notices of
Borrowing. The Administrative Agent shall have received a Notice of Borrowing in connection with any such request for extension of credit which complies with the requirements hereof. 

(e) No Default. No Default or Event of Default shall have occurred and be continuing as of or on such date or after giving effect to
the extensions of credit requested to be made on such date. 
 (f) No Material Impairment. The Required Lenders determine to their
reasonable satisfaction in their good faith judgment that there has not been any material impairment in the general affairs, management, results of operation, financial condition or the prospect of repayment of the Obligations, or any material
adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by the Required Lenders. 
 (g)
Initial Extensions of Credit. Solely with respect to the first extension of credit (provided that, Existing Letters of Credit on the Closing Date shall be permitted, together with any renewal or replacement thereof so long as the aggregate
L/C Exposure does not exceed $3,000,000)) following the Closing Date, receipt of the financial information set forth in Section 5.3(c) with results satisfactory to the Lenders. 

Each borrowing by and issuance of a Letter of Credit on behalf of the Borrower hereunder, and unless otherwise agreed by the Required Lenders
each Revolving Loan Conversion shall constitute a representation and warranty by the Borrower as of the date of such extension of credit or Revolving Loan Conversion, as applicable, that the conditions contained in this
Section 5.2 have been satisfied. 

  
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 5.3 Post-Closing Conditions Subsequent. The Borrower shall satisfy the
following conditions subsequent to the Closing Date to the satisfaction of the Required Lenders (and, in the case of (i) clause (b), HSBC and (ii) clause (c), all Lenders), by no later than the date specified below (or such later date as
the Required Lenders (and, in the case of (i) clause (b), HSBC and (ii) clause (c), all Lenders) shall agree to in their reasonable discretion, which approval may be by e-mail): 

(a) the Borrower shall deliver Control Agreements with respect to each Deposit Account and each Securities Account (in each case, other than
“Excluded Deposit Accounts” (as defined in the Guarantee and Collateral Agreement) or such other accounts as the Required Lenders reasonably agree, and Deposit Accounts maintained with SVB) not later than the date that is ninety
(90) days after the Closing Date; 
 (b) not later than November 30 2020, the Borrower shall deliver, or cause to be delivered, to
HSBC or its applicable Affiliates either (i) each original Existing Letter of Credit for cancellation or (ii) with respect to any such Existing Letter of Credit not delivered to HSBC or such Affiliate on or prior to such date pursuant to
clause (i), cash collateral in an amount equal to 105% (110% in the case of such Existing Letter of Credit in a currency other than Dollars) of the aggregate then undrawn and unexpired amount of such Existing Letters of Credit; 

(c) as soon as available, but in any event on or before December 15, 2020, a copy of the audited consolidated balance sheet of the
Borrower and its consolidated Subsidiaries for the 2019 fiscal year and the related audited consolidated statements of income and of cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous year,
reported on without (i) a “going concern” or like qualification or exception, or (ii) any qualification arising out of the scope of the audit, by Grant Thornton or other independent certified public accountants of nationally
recognized standing and reasonably acceptable to the Required Lenders; and 
 (d) as soon as available, but in any event within 15 Business
Days following delivery of the 2019 fiscal year audit, updated Projections. 
 SECTION 6 

AFFIRMATIVE COVENANTS 
 The
Borrower hereby agrees that, at all times prior to the Discharge of Obligations, the Borrower shall, and, where applicable, shall cause each of its Subsidiaries to: 

6.1 Financial Statements. Furnish to the Administrative Agent, with sufficient copies for distribution to each Lender (and the
Administrative Agent shall distribute such copies to the Lenders): 
 (a) as soon as available, but in any event within (i) 180 days after
the end of each fiscal year of the Borrower , a copy of the audited consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at the end of such fiscal year and the related audited consolidated statements of income and of cash
flows for such fiscal year, setting forth in each case in comparative form the figures for the previous year, reported on without (i) a “going concern” or like qualification or exception, or (ii) any qualification arising out of
the scope of the audit, by Grant Thornton or other independent certified public accountants of nationally recognized standing and reasonably acceptable to the Required Lenders; and 

(b) as soon as available, but in any event within 45 days after the end of each fiscal quarterly period of each fiscal year of the Borrower,
commencing with the fiscal quarter ending October 31, 2020, the unaudited consolidated and consolidating balance sheet of the Borrower and its consolidated Subsidiaries as at the end of such fiscal quarter and the related unaudited consolidated
and consolidating statements of income and of cash flows for such fiscal quarter and the portion of the fiscal year through the end of such fiscal quarter, setting forth in each case in comparative form the figures for the previous year, certified
by a Responsible Officer as being fairly stated in all material respects (subject to normal year-end audit adjustments). 

  
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 All such financial statements shall be complete and correct in all material respects and
shall be prepared in reasonable detail and in accordance with GAAP applied (except as approved by such accountants or officer, as the case may be, and disclosed in reasonable detail therein) consistently throughout the periods reflected therein and
with prior periods. 
 Additionally, documents required to be delivered pursuant to this Section 6.1 and
Section 6.2(e) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so, shall be deemed to have been delivered on the date on which the
Borrower posts such documents, or provides a link thereto, either: (i) on the Borrower’s website; or (ii) when such documents are posted electronically on the Borrower’s behalf on an internet or intranet website to which each
Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent), if any; provided that: (A) the Borrower shall deliver paper copies of such documents to the
Administrative Agent or any Lender upon its request to the Borrower to deliver such paper copies until written request to cease delivering paper copies is given by the Administrative Agent or such Lender; and (B) the Borrower shall notify
(which may be by facsimile or electronic mail) the Administrative Agent and each Lender of the posting of any such documents and provide to the Administrative Agent by email electronic versions (i.e. soft copies) of such documents. The
Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request by a
Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

6.2 Certificates; Reports; Other Information. Furnish to the Administrative Agent, for distribution to each Lender (or, in the
case of clause (k), to the relevant Lender), and the Administrative Agent shall distribute such copies to the Lenders or Lender: 
 (a)
[reserved]; 
 (b) concurrently with the delivery of any financial statements pursuant to Section 6.1, (i) a
certificate of a Responsible Officer stating that, to the best of such Responsible Officer’s knowledge, each Loan Party during such period has observed or performed all of its covenants and other agreements, and satisfied every condition
contained in this Agreement and the Security Documents to which it is a party to be observed, performed or satisfied by it, and that such Responsible Officer has obtained no knowledge of any Default or Event of Default except as specified in such
certificate and (ii) a Compliance Certificate containing all information and calculations necessary for determining compliance by each Group Member with the provisions of this Agreement referred to therein as of the last day of the month or
fiscal year of the Borrower, as the case may be, and (y) to the extent not previously disclosed to the Administrative Agent (which shall have disclosed such information to the Lenders), a description of any change in the jurisdiction of
organization of any Loan Party and a list of any Intellectual Property issued to or acquired by any Loan Party since the date of the most recent report delivered pursuant to this clause (y) (or, in the case of the first such report so delivered,
since the Closing Date); 
 (c) upon the earlier of (i) ten (10) days after approval by the Borrower’s Board of Directors or
(ii) sixty (60) days after the last day of each fiscal year of the Borrower, (A) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the then current fiscal year of the Borrower,
and (B) annual financial projections for such fiscal year (on a monthly basis) as approved by Borrower’s Board of Directors (collectively, the “Projections”), which Projections shall in each case be accompanied by a
certificate of a Responsible Officer stating that such Projections are based on estimates, information and assumptions believed in good faith by such Responsible Officer to be reasonable; 

  
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 (d) promptly, and in any event within five (5) Business Days after receipt thereof by
any Loan Party or any Subsidiary thereof, copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or
possible investigation or other inquiry by such agency regarding financial or other operational results of any Loan Party or any Subsidiary thereof (other than routine comment letters from the staff of the SEC relating to the Borrower’s filings
with the SEC); 
 (e) within five days after the same are sent, copies of each annual report, proxy or financial statement or other material
report that the Borrower sends to the holders of any class of the Borrower’s debt securities or public equity securities and, within five days after the same are filed, copies of all annual, regular, periodic and special reports and
registration statements which the Borrower may file with the SEC under Section 13 or 15(d) of the Exchange Act, or with any national securities exchange, and not otherwise required to be delivered to the Administrative Agent pursuant hereto;

 (f) upon request by the Administrative Agent, within five days after the same are sent or received, copies of all correspondence,
reports, documents and other filings with any Governmental Authority regarding compliance with or maintenance of Governmental Approvals or Requirements of Law or that could reasonably be expected to have a Material Adverse Effect; 

(g) concurrently with each Notice of Borrowing if Borrower is in a Borrowing Base Period and in any event within 30 days after the end of each
month if Borrower is in a Borrowing Base Period, a Borrowing Base Certificate (which such Certificate, summarizes and calculates (where applicable) the Advance Rate, Borrowing Base, Monthly Contract Value, Annual Contract Value, the Annualized
Retention Rate, Software License Revenue and Churn Rate; 
 (h) [reserved]; 

(i) prompt notice of (i) the creation or acquisition of any Relevant Subsidiary, (ii) any existing Immaterial Subsidiary that
becomes a Relevant Subsidiary and (iii) any existing Relevant Subsidiary that becomes an Immaterial Subsidiary; 
 (j) [reserved]; and

 (k) promptly, such additional financial and other information, including, without limitation, any certification or other evidence
confirming Borrower’s compliance with the terms of this Agreement, as the Administrative Agent or the Required Lenders may from time to time reasonably request. 

6.3 Contracts. 
 (a)
Schedules and Documents Relating to Contracts. The Borrower’s failure to execute and deliver any required transaction reports, Borrowing Base Certificates and schedules of collections shall not affect or limit the Administrative
Agent’s Lien and other rights in all of the Borrowing Base Entities’ Accounts (including for the avoidance of doubt any Contracts), nor shall Lenders failure to advance or lend against a specific Contract (to the extent permitted by this
Agreement) limit the Administrative Agent’s Lien and other rights therein. If requested by the Administrative Agent, the Borrower shall furnish the Administrative Agent with copies of all contracts, orders, invoices, and other similar
documents, and all shipping instructions, delivery receipts, bills of lading, and other evidence of delivery, for any goods the sale or disposition of which gave rise to such Contracts. In addition, the Borrower shall deliver to the Administrative
Agent, on its request, the originals of all instruments, chattel paper, security agreements, guarantees and other documents and property evidencing or securing any Contracts, in the same form as received, with all necessary endorsements, and copies
of all credit memos. 

  
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 (b) Disputes. The Borrower shall promptly notify the Administrative Agent of all
material disputes or claims relating to Contracts. For purposes of this Section 6.3(b), a dispute or claim is material if together with other related disputes or claims it is reasonably likely to involve Contracts
with an aggregate value of $2,000,000 or more. The Borrowing Base Entities may forgive (completely or partially), compromise, or settle any Contract for less than payment in full, or agree to do any of the foregoing at any time so long as
(i) the applicable Borrowing Base Entity does so in good faith, in a commercially reasonable manner, in the ordinary course of business, in arm’s-length transactions, and reports the same to the
Administrative Agent in the regular reports provided to the Administrative Agent; (ii) no Default or Event of Default has occurred and is continuing at such time; and (iii) after taking into account all such discounts, settlements and
forgiveness, the aggregate amount of aggregate Revolving Extensions of Credit then outstanding will not exceed the amount permitted pursuant to Section 2.1 at such time. 

(c) Returns. Upon the request of the Administrative Agent, the Borrower shall promptly provide the Administrative Agent with an
Inventory return history. 
 (d) Verification. The Administrative Agent may, from time to time, during the continuation of an Event
of Default verify directly with the respective Account Debtors the validity, amount and other matters relating to the Contracts, either in the name of a Borrowing Base Entity or the Administrative Agent or such other name as the Administrative Agent
may choose and, notify the Account Debtor of the Administrative Agent’s security interest in such Contract; 
 (e) No Liability.
Neither the Administrative Agent nor any Lender shall be responsible or liable for any shortage or discrepancy in, damage to, or loss or destruction of, any goods, the sale or other disposition of which gives rise to a Contract, or for any error,
act, omission, or delay of any kind occurring in the settlement, failure to settle, collection or failure to collect any Contract, or for settling any Contract in good faith for less than the full amount thereof, nor shall the Administrative Agent
or any Lender be deemed to be responsible for any Loan Party’s obligations under any contract or agreement giving rise to an Contract. Nothing herein shall, however, relieve the Administrative Agent from liability for its own gross negligence
or willful misconduct as determined by a court of competent jurisdiction in a final non-appealable judgment. 

6.4 Payment of Obligations. Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the
case may be, all its material obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been
provided on the books of the relevant Group Member. 
 6.5 Maintenance of Existence; Compliance. (a)(i) Preserve, renew and
keep in full force and effect its organizational existence and (ii) take all reasonable action to maintain or obtain all Governmental Approvals and all other rights, privileges and franchises necessary or desirable in the normal conduct of its
business or necessary for the performance by such Person of its Obligations under any Loan Document, except, in each case, as otherwise permitted by Section 7.4 and except, in the case of clause (i) above, to the
extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; (b) comply with all Contractual Obligations (including with respect to leasehold interests of the Borrower) and Requirements of Law except to the
extent that failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect; and (c) comply with all Governmental Approvals, and any term, condition, rule, filing or fee obligation, or other
requirement related thereto, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. Without limiting the generality of the foregoing, the Borrower shall, and shall cause each of its ERISA
Affiliates to, except as otherwise provided herein: (1) maintain each Plan in compliance in all material respects with the applicable provisions of ERISA, the Code or other Federal or state law; (2) cause each

  
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Qualified Plan to maintain its qualified status under Section 401(a) of the Code; (3) make all required contributions to any Plan; (4) not become a party to any Multiemployer Plan;
(5) ensure that all liabilities under each Plan are either (x) funded to at least the minimum level required by law or, if higher, to the level required by the terms governing such Plan; (y) insured with a reputable insurance company;
or (z) provided for or recognized in the financial statements most recently delivered to the Administrative Agent and the Lenders pursuant hereto; and (6) ensure that the contributions or premium payments to or in respect of each Plan are
and continue to be promptly paid at no less than the rates required under the rules of such Plan and in accordance with the most recent actuarial advice received in relation to such Plan and applicable law, except, in the aggregate, where failure to
do so could not reasonably be expected to result in a Material Adverse Effect. 
 6.6 Maintenance of Property; Insurance.
(a) Keep all property useful and necessary in its business in good working order and condition, ordinary wear and tear excepted and (b) maintain with financially sound and reputable insurance companies insurance on all its property (and
also with respect to its foreign receivables) in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are usually insured against in the same general area
by companies engaged in the same or a similar business. All such insurance shall (i) provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 30 days after receipt by
the Administrative Agent of written notice thereof and (ii) with respect to third party liability insurance, name the Administrative Agent as an additional insured party. 

6.7 Inspection of Property; Books and Records; Discussions. (a) Keep proper books of records and account in which full,
true and correct entries in conformity with GAAP and all Requirements of Law shall be made of all dealings and transactions in relation to its business and activities and (b) permit representatives and independent contractors of the
Administrative Agent and any Lender to visit and inspect any of its properties and examine and make abstracts from any of its books and records upon reasonable notice and at any reasonable time during normal business hours and to discuss the
business, operations, properties and financial and other condition of the Group Members with officers, directors and employees of the Group Members and with their independent certified public accountants. The foregoing inspections, audits and field
examinations shall be at the Borrower’s expense, and the charge therefor shall be $1,000 per person per day (or such higher amount as shall represent the Administrative Agent’s then-current standard charge for the same or any third party
expenses in connection with performing such audit or field examination), plus reasonable and documented out-of-pocket expenses. Such inspections, audits and field
examinations shall not be undertaken more frequently than once every twelve (12) months unless an Event of Default has occurred and continuing in which case such inspections, audits and field examinations shall occur as often as the
Administrative Agent shall determine is necessary. In the event the Borrower and the Administrative Agent schedule an audit more than ten (10) days in advance, and the Borrower cancels or seeks to reschedule the audit with less than ten
(10) days written notice to the Administrative Agent (without limiting any of the Administrative Agent’s rights or remedies) then the Borrower shall pay the Administrative Agent a fee of $1,000 plus any reasonable and documented out-of-pocket expenses incurred by the Administrative Agent to compensate the Administrative Agent for the anticipated costs and expenses of such cancellation or rescheduling.

 6.8 Notices. Give prompt written notice to the Administrative Agent (which shall promptly provide to the
Lenders) of: 
 (a) the occurrence of any Default or Event of Default; 

(b) any (i) default or event of default under any Contractual Obligation of any Group Member or (ii) litigation, investigation or
proceeding that may exist at any time between any Group Member and any Governmental Authority, that in either case could reasonably be expected to have a Material Adverse Effect; 

  
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 (c) any litigation or proceeding affecting any Group Member (i) in which the amount
involved is $5,000,000 or more and not covered by insurance, (ii) in which injunctive or similar relief is sought against any Group Member or (iii) which relates to this Agreement or any Security Document; 

(d) the occurrence of any ERISA Event that, either individually or together with any other ERISA Events, could reasonably be expected to have
a Material Adverse Effect; 
 (e) (i) any issuance by any Group Member of any Capital Stock, (ii) any incurrence by any Group
Member of any Indebtedness (other than Indebtedness constituting Loans) in a principal amount equaling or exceeding $5,000,000, and (iii) with respect to any such issuance of Capital Stock or incurrence of Indebtedness, the amount of any net
cash proceeds received by such Group Member in connection therewith, provided that no such notice shall be required with respect to any such issuance of Capital Stock or incurrence of Indebtedness resulting solely from intercompany transactions
among the Group Members permitted under this Agreement; 
 (f) any material change in accounting policies or financial reporting practices
by any Loan Party; 
 (g) any changes to the beneficial ownership information set forth in item 37 of the Perfection Certificate or such
other information as is required under the Beneficial Ownership Regulation. The Loan Parties understand and acknowledge that the Secured Parties rely on such true, accurate and
up-to-date beneficial ownership information to meet their regulatory obligations to obtain, verify and record information about the beneficial owners of their legal
entity customers; 
 (h) any development or event that has had or could reasonably be expected to have a Material Adverse Effect; and 

(i) the entry into any Borrowing Base Period or Non-Formula Period. 

Each notice pursuant to this Section 6.8 shall be accompanied by a statement of a Responsible Officer setting forth
details of the occurrence referred to therein and stating what action the relevant Group Member proposes to take with respect thereto. 

6.9 Environmental Laws. 

(a) Comply in all material respects with, and ensure compliance in all material respects by all tenants and subtenants, if any, with, all
applicable Environmental Laws, and obtain and comply in all material respects with and maintain, and ensure that all tenants and subtenants obtain and comply in all material respects with and maintain, any and all licenses, approvals, notifications,
registrations or permits required by applicable Environmental Laws. 
 (b) Conduct and complete all investigations, studies, sampling and
testing, and all remedial, removal and other actions required under Environmental Laws and promptly comply in all material respects with all lawful orders and directives of all Governmental Authorities regarding Environmental Laws. 

6.10 [Reserved]. 

  
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 6.11 Protection of Intellectual Property Rights. 

(a) (i) Protect, defend and maintain the validity and enforceability of its Intellectual Property related to UiPath Core Products;
(ii) promptly advise Administrative Agent (which shall promptly provide notice of the same to the Lenders) in writing of material infringements or any other event that would reasonably be expected to materially and adversely affect the value of
its Intellectual Property related to UiPath Core Products that is material to Borrower’s business; and (iii) not allow any Intellectual Property related to UiPath Core Products that is material to Borrower’s business (as determined in
good faith by Borrower) to be abandoned, forfeited or dedicated to the public without the Required Lenders’ written consent. 
 (b)
Provide written notice to the Administrative Agent (which shall promptly provide notice of the same to the Lenders) within ten (10) days of entering or becoming bound by any Restricted License (other than UiPath
Non-Core Products or over-the-counter software that is commercially available to the public). 

6.12 Additional Collateral, Etc. 

(a) With respect to any property (to the extent included in the definition of Collateral) acquired after the Closing Date by any Loan Party
(other than (x) any property described in paragraph (b), (c) or (d) below, and (y) any property subject to a Lien expressly permitted by clause (m) of the definition of Permitted Liens) as to which the Administrative Agent,
for the benefit of the Secured Parties, does not have a perfected Lien, promptly (and in any event within thirty days) (i) execute and deliver to the Administrative Agent such amendments to the Guarantee and Collateral Agreement or such other
documents as the Administrative Agent deems necessary or advisable to evidence that such Loan Party is a Guarantor and to grant to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in such property and
(ii) take all actions necessary or advisable in the opinion of the Administrative Agent to grant to the Administrative Agent, for the ratable benefit of the Secured Parties, a perfected first priority (except as expressly permitted by
Section 7.3) security interest and Lien in such property, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be required by the Guarantee and Collateral Agreement or by law or
as may be requested by the Administrative Agent. 
 (b) With respect to any fee interest in any real property having a value (together with
improvements thereof) of at least $5,000,000 acquired after the Closing Date by any Loan Party (other than any such real property subject to a Lien expressly permitted by clauses (k) and (l) of the definition of Permitted Liens), promptly, to
the extent requested by the Administrative Agent, (i) execute and deliver a first priority Mortgage, in favor of the Administrative Agent, for the ratable benefit of the Secured Parties, covering such real property, (ii) if requested by
the Administrative Agent, or the Required Lenders provide the Lenders with (x) title and extended coverage insurance covering such real property in an amount at least equal to the purchase price of such real property (or such other amount as
shall be reasonably specified by the Administrative Agent or the Required Lenders) as well as a current ALTA survey thereof, together with a surveyor’s certificate, and (y) any consents or estoppels reasonably deemed necessary or advisable
by the Administrative Agent in connection with such Mortgage, each of the foregoing in form and substance reasonably satisfactory to the Administrative Agent and (iii) if requested by the Administrative Agent or the Required Lenders, deliver to
the Administrative Agent and the Lenders legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the Administrative Agent and the Required Lenders. In
connection with the foregoing, no later than five (5) Business Days prior to the date on which a Mortgage is executed and delivered pursuant to this Section 6.12, in order to comply with the Flood Laws, the
Administrative Agent (for delivery to each Lender) shall have received the following documents (collectively, the “Flood Documents”): (A) a 

  
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completed standard “life of loan” flood hazard determination form (a “Flood Determination Form”) and such other documents as any Lender may reasonably request to
complete its flood due diligence, (B) if the improvement(s) to the applicable improved real property is located in a special flood hazard area, a notification to the applicable Loan Party (if applicable) (“Loan Party
Notice”) that flood insurance coverage under the National Flood Insurance Program (“NFIP”) is not available because the community does not participate in the NFIP, (C) documentation evidencing the applicable
Loan Party’s receipt of any such Loan Party Notice (e.g., countersigned Loan Party Notice, return receipt of certified U.S. Mail, or overnight delivery), and (D) if the Loan Party Notice is required to be given and, to the extent flood
insurance is required by any applicable Requirement of Law or any Lenders’ written regulatory or compliance procedures and flood insurance is available in the community in which the property is located, a copy of one of the following: the flood
insurance policy, the applicable Loan Party’s application for a flood insurance policy plus proof of premium payment, a declaration page confirming that flood insurance has been issued, or such other evidence of flood insurance that complies
with all applicable laws and regulations reasonably satisfactory to the Administrative Agent and each Lender (any of the foregoing being “Evidence of Flood Insurance”). Notwithstanding anything contained herein to the
contrary, no Mortgage will be executed and delivered until each Lender has confirmed to the Administrative Agent that such Lender has satisfactorily completed its flood insurance due diligence and compliance requirements. 

(c) With respect to any new Subsidiary (other than an Immaterial Subsidiary or an Excluded Foreign Subsidiary) created or acquired after the
Closing Date by any Loan Party (including pursuant to a Permitted Acquisition), promptly (i) execute and deliver to the Administrative Agent such amendments to the Guarantee and Collateral Agreement as the Administrative Agent deems necessary
or advisable to grant to the Administrative Agent, for the ratable benefit of the Secured Parties, a perfected first priority security interest in the Capital Stock of such new Subsidiary that is owned directly or indirectly by such Loan Party,
(ii) deliver to the Administrative Agent such documents and instruments as may be required to grant, perfect, protect and ensure the priority of such security interest, including but not limited to, the certificates representing such Capital
Stock, if any, together with undated stock powers, in blank, executed and delivered by a duly authorized officer of the relevant Loan Party, (iii) cause such new Subsidiary (A) to become a party to the Guarantee and Collateral Agreement,
(B) to take such actions as are necessary or advisable in the reasonable opinion of the Administrative Agent to grant to the Administrative Agent for the benefit of the Secured Parties a perfected first priority security interest in the
Collateral described in the Guarantee and Collateral Agreement, with respect to such Subsidiary, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be required by the Guarantee and Collateral Agreement
or by law or as may be requested by the Administrative Agent and (C) to deliver to the Administrative Agent a certificate in the form of Exhibit C of such Subsidiary, with appropriate insertions and attachments, and (iv) if
reasonably requested by the Administrative Agent or the Required Lenders, deliver to the Administrative Agent legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably
satisfactory to the Administrative Agent; it being agreed that if such new Subsidiary is formed by a Division, the foregoing requirements shall be satisfied substantially concurrently with the formation of such Subsidiary. 

(d) With respect to any new Excluded Foreign Subsidiary created or acquired after the Closing Date by any Loan Party, promptly
(i) execute and deliver to the Administrative Agent such amendments to the Guarantee and Collateral Agreement, as the Administrative Agent reasonably deems necessary or advisable to grant to the Administrative Agent, for the benefit of the
Secured Parties, a perfected first priority security interest in the Capital Stock of such new Excluded Foreign Subsidiary that is owned by any such Loan Party (provided that in no event shall more than 65% of the total outstanding voting
Capital Stock of any such new Excluded Foreign Subsidiary be required to be so pledged), (ii) deliver to the Administrative Agent the certificates representing such Capital Stock, if any, together with undated stock powers, in blank, executed and
delivered by a duly authorized officer of the relevant Loan Party, and take such other action as may be necessary or, in the reasonable opinion of the Administrative Agent, 

  
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desirable to perfect the Administrative Agent’s security interest therein, and (iii) if reasonably requested by the Administrative Agent or the Required Lenders, deliver to the
Administrative Agent legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the Administrative Agent. 

(e) Notwithstanding the foregoing, (i) no Loan Party shall be required to provide any guarantee or grant or perfect Administrative
Agent’s security interest with respect to the Collateral if the cost of delivering such guarantee or security interest or perfecting the Lien in such Collateral exceeds the benefit to the Lenders as reasonably determined by the Administrative
Agent, (ii) Liens on the Capital Stock of (or other ownership interest in) a Foreign Subsidiary that is required to be pledged shall be documented under U.S. law if the cost of providing a local law pledge exceeds the benefit to the Lenders, as
determined by the Administrative Agent in its reasonable discretion, (iii) the Administrative Agent may grant extensions of time (including, after the expiration of any period, which apply retroactively) for the creation and perfection of
security interests in, or obtaining any other deliverable with respect to, particular assets or the execution of any supplement, and each Lender hereby consents to any such extension of time, (iv) to the extent any Foreign Subsidiary is
required to comply with any provisions of this Section 6.12, such Foreign Subsidiary shall execute customary and market-based foreign law governed equivalents of the Security Documents referenced above in lieu of U.S. law
governed guarantees or Security Documents. 
 6.13 Litigation Cooperation. From the Closing Date and continuing through the
earlier of the (i) Revolving Termination Date, or (ii) the termination of this Agreement pursuant to the terms and conditions contained herein, make available to the Administrative Agent and any requesting Lender, without expense to the
Administrative Agent or such Lender, Borrower and its officers, employees and agents and any books and records of the Borrower, to the extent that the Administrative Agent or such Lender may deem them reasonably necessary to prosecute or defend any
third-party suit or proceeding that is instituted by or against the Administrative Agent or such Lender with respect to any Collateral or relating to the Borrower. 

6.14 Use of Proceeds. Use the proceeds of each credit extension only for the purposes specified in
Section 4.16. 
 6.15 [Reserved]. 

6.16 Anti-Corruption Laws. Conduct its business in compliance with all applicable Sanctions and anti-corruption laws and
maintain policies and procedures designated to promote and achieve compliance with such laws. 
 6.17 Further Assurances.
Execute any further instruments and take such further action as the Administrative Agent reasonably deems necessary to perfect, protect, ensure the priority of or continue the Administrative Agent’s Lien on the Collateral or to effect the
purposes of this Agreement. 
 SECTION 7 

NEGATIVE COVENANTS 
 The
Borrower hereby agrees that, at all times prior to the Discharge of Obligations, the Borrower shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly: 

  
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 7.1 Financial Condition Covenants. 

(a) Minimum Adjusted Quick Ratio. Permit the Adjusted Quick Ratio to be less than 1.50 to 1.00 at any time during the term of this
facility, to be certified to Administrative Agent in each Compliance Certificate delivered to Administrative Agent. 
 7.2
Indebtedness. Create, issue, incur, assume, become liable in respect of or suffer to exist any Indebtedness, except: 
 (a)
Indebtedness of any Loan Party pursuant to any Loan Document and any Cash Management Agreement; 
 (b) Indebtedness of (i) any Loan
Party owing to any other Loan Party, (ii) any Group Member (which is not a Loan Party) owing to any other Group Member (which is not a Loan Party) and (iii) intercompany indebtedness permitted by Section 7.11;

 (c) Guarantee Obligations (i) of any Loan Party of the Indebtedness of any other Loan Party; (ii) of any Group Member (which is
not a Loan Party) of the Indebtedness of any Loan Party, or (iii) by any Group Member (which is not a Loan Party) of the Indebtedness of any other Group Member (which is not a Loan Party), provided that, in any case (i), (ii) or (iii),
the Indebtedness so guaranteed is otherwise permitted by the terms hereof; 
 (d) Indebtedness outstanding on the date hereof and listed on
Schedule 7.2(d) and any refinancings, refundings, renewals or extensions thereof (which do not shorten the maturity thereof or increase the principal amount thereof, except by an amount equal to a reasonable premium or
other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder); 

(e) Indebtedness (including, without limitation, Capital Lease Obligations) secured by Liens permitted by clause (c) of the definition of
Permitted Liens in an aggregate principal amount not to exceed $5,000,000 at any one time outstanding and any refinancings, refundings, renewals or extensions thereof (which do not shorten the maturity thereof or increase the principal amount
thereof except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder); 

(f) [reserved]; 
 (g)
Subordinated Indebtedness; 
 (h) obligations (contingent or otherwise) of the Borrower or any of its Subsidiaries existing or arising under
any Swap Agreement; provided that (i) that such obligations are (or were) entered into by such Person in accordance with Section 7.13 and not for purposes of speculation, (ii) such Swap Agreement does not
contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party and (iii) and the aggregate amount of such
Indebtedness pursuant to this clause (h) shall not exceed Five Million Dollars ($5,000,000) at any time; 
 (i) Indebtedness
(i) arising from the honoring of a bank or other financial institution of a check, draft or other similar instrument drawn against insufficient funds in the ordinary course or business and (ii) owed to customers of Borrower arising from
the receipt of advance payments from a customer; 

  
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 (j) unsecured Indebtedness to trade creditors incurred in the ordinary course of business;
and 
 (k) Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; 

(l) Indebtedness of Borrower or any of its Subsidiaries in respect of a corporate credit card program; 

(m) Indebtedness of any Person that becomes a Subsidiary after the date hereof; provided that (i) such Indebtedness exists at the
time such Person becomes a Subsidiary and is not created in contemplation of or in connection with such Person becoming a Subsidiary and (ii) the aggregate principal amount outstanding of all such Indebtedness shall not exceed Ten Million
Dollars ($10,000,000) at any time; 
 (n) unsecured Indebtedness consisting of earnout obligations or similar deferred or contingent
obligations of Borrower or any of its Subsidiaries incurred or created in connection with a Permitted Acquisition or other Permitted Investment; provided that the maximum aggregate amount payable with respect to all such Indebtedness shall
not exceed Forty Million Dollars ($40,000,000) in the aggregate at any time unless (i) Liquidity is not less than One Hundred Fifty Million Dollars ($150,000,000), provided that at least Seventy-Five Million Dollars ($75,000,000) of the
amount referenced in clause (i) shall be comprised of cash and Cash Equivalents held in a Deposit Account or Securities Account which is subject to a Control Agreement or otherwise subject to a perfected security interest in favor of the
Administrative Agent and is maintained by a branch office of a depository or securities intermediary located within the United States; 

(o) Indebtedness of Borrower or any Subsidiary incurred solely to finance the acquisition, construction or improvement of real property and
extensions, renewals and replacements of any such Indebtedness; provided that (i) such Indebtedness is secured solely by a Lien on such real property acquired, constructed or improved, (ii) such Indebtedness is incurred prior to or
within 90 days after such acquisition or the completion of such construction or improvement, (iii) such Indebtedness does not exceed 100% of the cost of acquiring, constructing or improving such real property, (iv) the aggregate principal
amount outstanding of all such Indebtedness shall not exceed Thirty Million Dollars ($30,000,000) at any time, (v) immediately after giving effect to the incurrence of such Indebtedness, Liquidity shall be not less than One Hundred Fifty
Million Dollars ($150,000,000), provided that at least Seventy-Five Million Dollars ($75,000,000) of such amount shall be comprised of cash and Cash Equivalents held in a Deposit Account or Securities Account which is subject to a Control
Agreement or otherwise subject to a perfected security interest in favor of the Administrative Agent and is maintained by a branch office of a depository or securities intermediary located within the United States, and (vi) immediately after
giving pro forma effect to the incurrence of such Indebtedness, Borrower shall be in compliance with Section 7.1; and 

(p) Indebtedness of (i) Foreign Subsidiaries which are not Loan Parties (other than UiPath K.K.) not to exceed, together with amounts in
Section 7.8(f) (without double counting), $5,000,000 in the aggregate per fiscal year and (ii) UiPath K.K., for so long as it is not a Loan Party, not to exceed Ten Million Dollars ($10,000,000); provided that Indebtedness pursuant
to this clause (p)(ii) is incurred in the ordinary course of business to secure the performance of real property leases for the benefit of UiPath K.K.. 

  
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 7.3 Liens. 

(a) Create, incur, assume or suffer to exist any Lien upon any of its property, or assign or convey any right to receive income, including the
sale of any Accounts or Contracts, whether now owned or hereafter acquired, except Permitted Liens, 
 (b) permit any Collateral not to be
subject to the first priority security interest granted herein, excluding Permitted Liens, 
 (c) enter into any agreement, document,
instrument or other arrangement (except with or in favor of the Administrative Agent) with any Person which directly or indirectly prohibits or has the effect of prohibiting any Group Member from assigning, mortgaging, pledging, granting a security
interest in or upon, or encumbering any Group Member’s Intellectual Property, except as is otherwise permitted in Section 7.5 hereof and the definition of “Permitted Liens” herein. 

Notwithstanding anything contained herein to the contrary, Borrower shall not, nor shall it permit any of its Subsidiaries to, directly or
indirectly, create, incur, allow, or suffer any Lien on any of its Intellectual Property (except in favor of Administrative Agent). 

7.4 Fundamental Changes. Enter into any merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or
suffer any liquidation or dissolution), or Dispose of all or substantially all of its property or business, except that: 
 (a) any
Subsidiary of a Loan Party may be merged or consolidated with or into a Loan Party (provided that such Loan Party shall be the continuing or surviving Person); 

(b) any Subsidiary of the Borrower may Dispose of any or all of its assets (i) pursuant to any liquidation or other transaction that
results in the assets of such Subsidiary being transferred to the Borrower or any other Loan Party, or (ii) pursuant to a Disposition permitted by Section 7.5; 

(c) any Investment expressly permitted by Section 7.8 may be structured as a merger, consolidation or amalgamation;
and 
 (d) any Subsidiary may dissolve, liquidate or wind up its affairs if it owns no material assets, engages in no business and otherwise
has not activities other than activities related to the maintenance of its existence and good standing. 
 7.5 Disposition of
Property. Convey, sell, lease, transfer, assign, or otherwise dispose of any of its business or property, whether now owned or hereafter acquired, or, in the case of any Subsidiary of the Borrower, issue or sell any shares of such
Subsidiary’s Capital Stock to any Person (collectively, “Transfer”), except for Transfers: 
 (a) of Inventory
in the ordinary course of business; 
 (b) of worn-out or obsolete equipment that is, in the
reasonable judgment of Borrower, no longer economically practicable to maintain or useful in the ordinary course of business of Borrower or any of its Subsidiaries; 

(c) consisting of Permitted Liens and Investments permitted pursuant to Section 7.8; 

(d) consisting of the sale or issuance of any stock of Borrower so long as such sale or issuance would not result in a Change of Control;
provided that, for any such sale or issuance which will result in a change in ownership of at least 20% of the outstanding voting stock of Borrower on a fully 

  
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diluted basis, Borrower provides the Administrative Agent (which shall promptly provide such notice to the Lenders) not less than five (5) Business Days’ (or such shorter period as may
be agreed to by the Required Lenders) prior written notice of such sale or issuance, specifying the purchasers of such stock, any “know your customer” information required by the Administrative Agent or any Lender, the terms of such sale
or issuance, and the total sale or issuance proceeds to be received by Borrower; 
 (e) consisting of Borrower’s or its
Subsidiaries’ use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of this Agreement or the other Loan Documents; 

(f) consisting of non-exclusive licenses for the use of the property of Borrower or any of its
Subsidiaries in the ordinary course of business; 
 (g) consisting of licenses of Intellectual Property that is not material to the business
of Borrower or its Subsidiaries granted to their customers in the ordinary course of business; 
 (h) consisting of Intellectual Property
that is or will be jointly owned by Borrower and UiPath Romania, so long as such Intellectual Property remains solely and jointly owned by such Persons; 

(i) from any Subsidiary that is not a co-borrower under this Agreement to the Borrower or any
Subsidiary other than an Immaterial Subsidiary; and 
 (j) from any Loan Party to any other Loan Party; 

provided, however, that any Disposition made pursuant to this Section 7.5 shall be made
in good faith on an arm’s length basis for fair value. 
 7.6 Restricted Payments. Make any payment or prepayment of
principal of, premium, if any, or interest on, or redemption, purchase, retirement, defeasance (including in-substance or legal defeasance), sinking fund or similar payment with respect to, any Subordinated
Indebtedness, pay any earn-out payment, seller debt or deferred purchase payments, declare or pay any dividend (other than dividends payable solely in common stock of the Person making such dividend) on, or
make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement or other acquisition of, any Capital Stock of any Group Member, whether now or hereafter outstanding, or
make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of any Group Member (collectively, “Restricted Payments”), except that, so long as no Event of
Default shall have occurred and be continuing at the time of any action described below or would result therefrom: 
 (a) solely in
connection with repurchase of capital stock as part of an equity raise, so long as such dividends and distributions are paid solely with the proceeds of such equity raise, 

(b) distributions or payments pursuant to and in accordance with stock option plans or other benefit plans for management or employees of
Borrower and its Subsidiaries and 
 (c) for any purpose other than those described in clauses (a) or (b), in an aggregate amount not
to exceed Ten Million Dollars ($10,000,000) in any fiscal year. 
 7.7 [Reserved]. 

  
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 7.8 Investments. Make any advance, loan, extension of credit (by way of
guarantee or otherwise) or capital contribution to, or purchase any Capital Stock, bonds, notes, debentures or other debt securities of, or any assets constituting a business unit of, or make any other investment in, any Person (all of the
foregoing, “Investments”), except: 
 (a) extensions of trade credit in the ordinary course of business; 

(b) (i) Investments in cash and Cash Equivalents and (ii) any Investments permitted by the Borrower’s board approved investment
policy, as amended from time to time, provided that such investment policy (and any such amendments thereto) have been approved by the Administrative Agent in writing; 

(c) Guarantee Obligations permitted by Section 7.2; 

(d) (i) travel advances and employee relocation loans and other employee loans and advances in the ordinary course of business in an aggregate
amount not to exceed $250,000 at any time, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of the Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements approved by
the Borrower’s board of directors in an aggregate amount not to exceed $10,000,000 in any fiscal year; 
 (e) Investments consisting of
notes receivable of, or prepaid royalties and other credit extensions, to customers or suppliers who are not Affiliates, in the ordinary course of business; provided this paragraph (e) shall not apply to Investments of a Loan Party in any Group
Member (that is not a Loan Party); 
 (f) intercompany Investments by (i) any Group Member in the Borrower or any Person that, prior to
such investment, is a Loan Party, (ii) any Group Member (that is not a Loan Party) to any Group Member (that is not a Loan Party), and (iii) any Loan Party in any Foreign Subsidiary (that is not a Loan Party) (A) in an aggregate
amount, together with amounts in Section 7.2(p)(i) not to exceed $5,000,000 in the aggregate per fiscal year or (B) arising from customary transfer pricing or cost-plus services agreements entered into in the ordinary
course of business and on terms that are, when taken as a whole and in the good faith judgment of the Borrower, no less favorable to the Loan Parties than would be obtained in arm’s length transactions with a nonaffiliated third party; 

(g) Investments in the ordinary course of business consisting of endorsements of negotiable instruments for collection or deposit; 

(h) Investments received in settlement of amounts due to any Group Member effected in the ordinary course of business or owing to such Group
Member as a result of Insolvency Proceedings involving an account debtor or upon the foreclosure or enforcement of any Lien in favor of such Group Member; 

(i) Investments constituting Permitted Acquisitions; 

(j) deposits made to secure the performance of leases, licenses or contracts in the ordinary course of business, and other deposits made in
connection with the incurrence of Liens permitted under Section 7.3; 
 (k) Investments consisting of deposit
accounts in which Administrative Agent has a perfected security interest; 

  
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 (l) promissory notes and other non-cash
consideration received in connection with Dispositions permitted by Section 7.5, to the extent not exceeding the limits specified therein with respect to the receipt of non-cash
consideration in connection with such Dispositions; 
 (m) Investments consisting of commercial paper and corporate bonds maturing no more
than two (2) years after its creation and rated at least A-2 by Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc., or at least
P-2 by Moody’s Investors Service, Inc., and any of their respective successors; provided that the average maturity for all such Investments is less than or equal to one (1) year; 

(n) Investments existing on the date hereof and listed on Schedule 7.8(n), but excluding any increases in the amounts thereof following
the Closing Date; and 
 (o) Investments from Borrower to any non-Loan Party in an aggregate amount
not to exceed (i) Twenty Million Dollars ($20,000,000) in any fiscal year or (ii) so long as Borrower holds Seventy-Five Million Dollars ($75,000,000) of unrestricted cash and Cash Equivalents in a Deposit Account or Securities Account
which is subject to a Control Agreement or otherwise subject to a perfected security interest in favor of the Administrative Agent and is maintained by a branch office of a depository or securities intermediary located within the United States, Two
Hundred Million Dollars ($200,000,000) in any fiscal year. 
 7.9 ERISA. To the extent reasonably expected to result in a
Material Adverse Effect, the Borrower shall not, and shall not permit any of its ERISA Affiliates to: (a) terminate any Pension Plan so as to result in any material liability to the Borrower or any ERISA Affiliate, (b) permit to exist any
ERISA Event, or any other event or condition, which presents the risk of a material liability to any ERISA Affiliate, (c) make a complete or partial withdrawal (within the meaning of ERISA Section 4201) from any Multiemployer Plan so as to
result in any material liability to the Borrower or any ERISA Affiliate, (d) enter into any new Plan or modify any existing Plan so as to increase its obligations thereunder which could result in any material liability to any ERISA Affiliate,
(e) permit the present value of all nonforfeitable accrued benefits under any Plan (using the actuarial assumptions utilized by the PBGC upon termination of a Plan) materially to exceed the fair market value of Plan assets allocable to such
benefits, all determined as of the most recent valuation date for each such Plan, or (f) engage in any transaction which would cause any obligation, or action taken or to be taken, hereunder (or the exercise by the Administrative Agent or any
Lender of any of its rights under this Agreement, any Note or the Security Documents) to be a non-exempt (under a statutory or administrative class exemption) prohibited transaction under ERISA or
Section 4975 of the Code. 
 7.10 Optional Payments and Modifications of Certain Preferred Stock and Debt Instruments.
(a) Amend, modify, waive or otherwise change, or consent or agree to any amendment, modification, waiver or other change to, any of the terms of the Preferred Stock (i) that would move to an earlier date the scheduled redemption date or
increase the amount of any scheduled redemption payment or increase the rate or move to an earlier date any date for payment of dividends thereon or (ii) that would be otherwise materially adverse to any Lender or any other Secured Party; or
(b) amend, modify, waive or otherwise change, or consent or agree to any amendment, modification, waiver or other change to, any of the terms of any Indebtedness permitted by Section 7.2 (other than Indebtedness
pursuant to any Loan Document) that would shorten the maturity or increase the amount of any payment of principal thereof or the rate of interest thereon or shorten any date for payment of interest thereon or that would be otherwise materially
adverse to any Lender or any other Secured Party. 
 7.11 Transactions with Affiliates. Directly or indirectly enter into or
permit to exist any material transaction with any Affiliate of the Borrower, except for transactions that are in the ordinary 

  
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course of business, upon fair and reasonable terms that are no less favorable to the Borrower or such Subsidiary than would be obtained in a comparable arm’s length transaction with a non-affiliated Person; provided that the foregoing restriction shall not apply to (a) transactions between or among the Borrower and any of its Subsidiaries or between and among any Subsidiaries, in each case
to the extent not prohibited hereunder; (b) Restricted Payments permitted by Section 7.6; or (c) Investments permitted by Section 7.8. 

7.12 Sale Leaseback Transactions. Enter into any Sale Leaseback Transaction if prohibited by
Section 7.2 or Section 7.5 hereunder. 
 7.13 Swap Agreements. Enter into
any Swap Agreement, except Swap Agreements which are entered into by a Group Member to (a) hedge or mitigate risks to which such Group Member has actual exposure (other than those in respect of Capital Stock), or (b) effectively cap,
collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of such Group Member. 

7.14 Accounting Changes. Make any change in its (a) accounting policies or reporting practices, except as required by GAAP,
or (b) fiscal year. 
 7.15 Negative Pledge Clauses. Enter into or suffer to exist or become effective any agreement that
prohibits or limits the ability of any Loan Party to create, incur, assume or suffer to exist any Lien upon any of its property or revenues, whether now owned or hereafter acquired, to secure its Obligations under the Loan Documents to which it is a
party, other than (a) this Agreement, the other Loan Documents and any Cash Management Agreement, (b) any agreements governing any purchase money Liens or Capital Lease Obligations otherwise permitted hereby (in which case, any prohibition
or limitation shall only be effective against the assets financed thereby), (c) customary restrictions on the assignment of leases, licenses and other agreements, and (d) any restriction pursuant to any document, agreement or instrument
governing or relating to any Lien permitted under clauses (e) and (l) of the definition of Permitted Lien or any agreement or option to Dispose any asset of any Group Member, the Disposition of which is permitted by any other provision of this
Agreements (in each case, provided that any such restriction relates only to the assets or property subject to such Lien or being Disposed). Notwithstanding anything contained herein to the contrary, Group Members shall not create, incur,
allow, or suffer any Lien on any of its Intellectual Property (except in favor of the Administrative Agent). 
 7.16 Clauses
Restricting Subsidiary Distributions. Enter into or suffer to exist or become effective any consensual encumbrance or restriction on the ability of any Subsidiary of Borrower to (a) make Restricted Payments in respect of any Capital Stock
of such Subsidiary held by, or to pay any Indebtedness owed to, any other Group Member, (b) make loans or advances to, or other Investments in, any other Group Member, or (c) transfer any of its assets to any other Group Member, except for
such encumbrances or restrictions existing under or by reason of (i) any restrictions existing under the Loan Documents or any Cash Management Agreement, (ii) any restrictions with respect to a Subsidiary imposed pursuant to an agreement
that has been entered into in connection with a Disposition permitted hereby of all or substantially all of the Capital Stock or assets of such Subsidiary, (iii) customary restrictions on the assignment of leases, licenses and other agreements,
(iv) restrictions of the nature referred to in clause (c) above under agreements governing purchase money liens or Capital Lease Obligations otherwise permitted hereby which restrictions are only effective against the assets financed
thereby, or (v) any restriction pursuant to any document, agreement or instrument governing or relating to any Lien permitted under clauses (e) and (l) of the definition of Permitted Lien (provided that any such restriction relates
only to the assets or property subject to such Lien or being Disposed). 
 7.17 Lines of Business and Operational
Management. (i) Enter into any business, either directly or through any Subsidiary, except for those businesses in which the Borrower and its Subsidiaries 

  
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are engaged on the date of this Agreement or that are reasonably related, ancillary or incidental thereto or representing a reasonable expansion thereof, or (ii) fail to provide notice to
the Administrative Agent of any Key Person departing from or ceasing to be employed by Borrower within five (5) Business Days after such Key Person’s departure from Borrower. 

7.18 [Reserved]. 

7.19 [Reserved]. 

7.20 Amendments to Organizational Agreements. Amend or permit any amendments to any Loan Party’s organizational documents
without prior notice to the Administrative Agent (which shall promptly provide such notice to the Lenders) if such amendment would be adverse to the Administrative Agent or the Lenders. 

7.21 Use of Proceeds. Use the proceeds of any Loan or extension of credit hereunder, whether directly or indirectly, and whether
immediately, incidentally or ultimately, (a) to purchase or carry margin stock (within the meaning of Regulation U of the Board) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness
originally incurred for such purpose, in each case in violation of, or for a purpose which violates, or would be inconsistent with, Regulation T, U or X of the Board; (b) to finance an Unfriendly Acquisition; (c) to fund any activities of
or business with any individual or entity, or in any Designated Jurisdiction, that, at the time of such funding, is the subject of Sanctions, or in any other manner that will result in a violation by any individual or entity (including any
individual or entity participating in the transaction, whether as Lender, Arranger, Administrative Agent, Issuing Lender, Swingline Lender, or otherwise) of Sanctions (or lend, contribute or otherwise make available such proceeds to any Subsidiary,
joint venture partner or other individual or entity in violation of the foregoing); or (d) for any purpose which would breach the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 ,or other similar legislation in
other jurisdictions. 
 7.22 Subordinated Indebtedness. 

(a) Amendments. Amend, modify, supplement, waive compliance with, or consent to noncompliance with, any Subordinated Debt Document,
unless the amendment, modification, supplement, waiver or consent (i) does not adversely affect the Borrower’s or any of its Subsidiaries’, as applicable, ability to pay and perform each of its Obligations at the time and in the
manner set forth herein and in the other Loan Documents and is not otherwise adverse to the Administrative Agent and the Lenders, and (ii) is in compliance with the subordination provisions therein and any subordination agreement with respect
thereto in favor of the Administrative Agent. 
 (b) Payments. Make any payment, prepayment or repayment on, redemption, exchange or
acquisition for value of, or any sinking fund or similar payment with respect to, any Subordinated Indebtedness, except as permitted by the subordination provisions in the applicable Subordinated Debt Documents and any subordination agreement with
respect thereto in favor of the Administrative Agent and the Lenders. 
 7.23 Anti-Terrorism Laws. Conduct, deal in or engage
in or permit any Affiliate or agent of any Loan Party within its control to conduct, deal in or engage in any of the following activities: (a) conduct any business or engage in any transaction or dealing with any person blocked pursuant to
Executive Order No. 13224 (a “Blocked Person”), including the making or receiving any contribution of funds, goods or services to or for the benefit of any Blocked Person; (b) deal in, or otherwise engage in any
transaction relating to, any property or interests in property blocked pursuant to Executive Order No. 13224; or (c) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or
attempts to violate, any of the prohibitions set forth in Executive Order No. 13224 or the Patriot Act. 

  
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 SECTION 8 

EVENTS OF DEFAULT 

8.1 Events of Default. The occurrence of any of the following shall constitute an Event of Default: 

(a) the Borrower shall fail to pay any amount of principal or interest of any Loan when due in accordance with the terms hereof; or the
Borrower shall fail to pay any other amount payable hereunder or under any Loan Document, within five (5) Business Days (which five (5) Business Day cure period shall not apply to the Revolving Termination Date) after any such interest or
other amount becomes due in accordance with the terms hereof; or 
 (b) any representation or warranty made or deemed made by any Loan Party
herein or in any Loan Document or that is contained in any certificate, document or financial or other statement furnished by it at any time under or in connection with this Agreement or any Loan Document (i) if qualified by materiality, shall
be incorrect or misleading when made or deemed made, or (ii) if not qualified by materiality, shall be incorrect or misleading in any material respect when made or deemed made; or 

(c) (i) any Loan Party shall default in the observance or performance of any agreement contained in, Section 5.3,
Section 6.1, Section 6.2, clause (i) or (ii) of Section 6.5(a), Section 6.6(b), Section 6.14 or
Section 7 of this Agreement or (ii) an “Event of Default” under and as defined in any Loan Document shall have occurred and be continuing; or  

(d) any Loan Party shall default in the observance or performance of any other agreement contained in this Agreement or any Loan Document
(other than as provided in paragraphs (a) through (c) of this Section), and such default shall continue unremedied for a period of ten (10) days thereafter; provided, however, that if the default cannot by its nature be cured
within such ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which
shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to cure the default shall not be deemed an Event of Default (but no credit extensions shall be made during such
cure period); or 
 (e) any Group Member shall (A) default in making any payment of any principal of any Indebtedness (including any
Guarantee Obligation, but excluding the Loans) on the scheduled or original due date with respect thereto; (B) default in making any payment of any interest, fees, costs or expenses on any such Indebtedness beyond the period of grace, if any,
provided in the instrument or agreement under which such Indebtedness was created; (C) default in making any payment or delivery under any such Indebtedness constituting a Swap Agreement beyond the period of grace, if any, provided in such Swap
Agreement; or (D) default in the observance or performance of any other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall
occur or condition exist, the effect of which default or other event or condition is to (1) cause, or to permit the holder or beneficiary of, or, in the case of any such Indebtedness constituting a Swap Agreement, counterparty under, such
Indebtedness (or a trustee or agent on behalf of such holder, beneficiary, or counterparty) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity or (in the case of any such Indebtedness
constituting a Guarantee Obligation) to become payable or (in the case of any such Indebtedness constituting a Swap Agreement) to be terminated, or (2) to cause, with the giving of notice if required, any Group Member to

  
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purchase, redeem, mandatorily prepay or make an offer to purchase, redeem or mandatorily prepay such Indebtedness prior to its stated maturity; provided that, unless such Indebtedness constitutes
a Specified Swap Agreement, a default, event or condition described in clauses (A), (B), (C), or (D) of this Section 8.1(e) shall not at any time constitute an Event of Default unless, at such time, one or more
defaults, events or conditions of the type described in any of clauses (A), (B), (C), or (D) of this Section 8.1(e) shall have occurred with respect to Indebtedness, the outstanding principal amount (and, in the case
of Swap Agreements, other than Specified Swap Agreements, the Swap Termination Value) of which, individually or in the aggregate for all such Indebtedness, exceeds $5,000,000; or 

(f) (i) any Group Member shall commence any case, proceeding or other action (a) under any Debtor Relief Law seeking to have an order for
relief entered with respect to it, or seeking to adjudicate it bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with
respect to it or its debts, or (b) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or any Group Member shall make a general assignment for the
benefit of its creditors; or (ii) there shall be commenced against any Group Member any case, proceeding or other action of a nature referred to in clause (i) above that (x) results in the entry of an order for relief or any such
adjudication or appointment or (y) remains undismissed, undischarged or unbonded for a period of 30 days (provided that, during such 30 day period, no Loan shall be advanced or Letters of Credit issued hereunder); or (iii) there
shall be commenced against any Group Member any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets that results in the entry of an
order for any such relief that shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof (provided that, during such 60 day period, no Loan shall be advanced or Letters of Credit issued
hereunder); or (iv) any Group Member shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i), (ii), or (iii) above; or (v) any Group Member shall
generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; or 
 (g) there shall
occur one or more ERISA Events which individually or in the aggregate results in or otherwise is associated with liability of any Loan Party or any ERISA Affiliate thereof in excess of $250,000 during the term of this Agreement; or there exists an
amount of unfunded benefit liabilities (as defined in Section 4001(a)(18) of ERISA), individually or in the aggregate for all Pension Plans (excluding for purposes of such computation any Pension Plans with respect to which assets exceed
benefit liabilities) which exceeds $250,000; or 
 (h) there is entered against any Group Member (i) one or more final judgments or
orders for the payment of money involving in the aggregate a liability (not paid or fully covered by insurance as to which the relevant insurance company has acknowledged coverage) of $5,000,000 or more, or (ii) one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any
creditor upon such judgment or order, or (B) all such judgments or decrees shall not have been vacated, discharged, stayed or bonded pending appeal within 30 days from the entry thereof; or 

(i) (i) the Security Documents creating Liens on any material portion of the Collateral shall cease, for any reason, to be in full force and
effect (other than pursuant to the terms thereof), or any Loan Party shall so assert, or any Lien created by the Security Documents creating Liens on any material portion of the Collateral shall cease to be enforceable and of the same effect and
priority purported to be created thereby; or 
 (ii) (i) service of process seeking to attach, by trustee or similar process, any funds of
Borrower or of any entity under the control of Borrower (including a Subsidiary), or (ii) a notice 

  
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of lien or levy is filed against any Loan Party’s assets, with a fair market value of Five Million Dollars ($5,000,000) or more, individually or in the aggregate, by any Governmental
Authority, and the same under subclauses (i) and (ii) hereof are not, within ten (10) days (or sixty (60) days with respect to any Foreign Subsidiary) after the occurrence thereof, discharged or stayed (whether through the posting of
a bond or otherwise); provided, however, no Loan shall be made or Letter of Credit issued during any ten (10) day (or sixty (60) days with respect to any Foreign Subsidiary) cure period; or 

(iii) (i) any material portion of Borrower’s or any of its Relevant Subsidiaries’ assets is attached, seized, levied on, or
comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents Borrower or any of its Relevant Subsidiaries from conducting all or any material part of its business; provided, however, that the Event of
Default under this Section 8.1(i)(iii) shall be cured or waived for purposes of this Agreement upon Administrative Agent (which shall promptly provide such evidence to the Lenders) receiving written evidence that the same under subclauses
(i) and (ii) hereof have, within ten (10) days after the occurrence thereof, been discharged or stayed (whether through the posting of a bond or otherwise) and so long as the Administrative Agent has not declared an Event of Default under
any other provision of this Agreement and/or exercised any rights with respect thereto; or 
 (j) the guarantee contained in Section 2
of the Guarantee and Collateral Agreement shall cease, for any reason, to be in full force and effect or any Loan Party shall so assert; or 

(k) a Change of Control shall occur; or 

(l) [reserved] 
 (m) [reserved];

 (n) this Agreement or any Loan Document not otherwise referenced in Section 8.1(i) or (j), at any time
after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or the Discharge of Obligations, ceases to be in full force and effect; or any Loan Party or any other Person contests in writing the
validity or enforceability of this Agreement or any Security Document; or any Loan Party denies in writing that it has any or further liability or obligation under this Agreement or any Security Document to which it is a party, or purports in
writing to revoke, terminate or rescind this Agreement or any Security Document; or 
 (o) a Material Adverse Effect shall occur. 

8.2 Remedies Upon Event of Default. If any Event of Default occurs and is continuing, the Administrative Agent shall, at the
request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 
 (a) if such event is an Event of
Default specified in clause (i) or (ii) of paragraph (f) of Section 8.1 with respect to the Borrower, the Commitments shall immediately terminate automatically and the Loans (with accrued interest thereon)
and all other amounts owing under this Agreement and the other Loan Documents shall automatically immediately become due and payable, and 

(b) if such event is any other Event of Default, any of the following actions may be taken: (i) with the consent of the Required Lenders,
the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrower declare the Revolving Commitments, the Swingline Commitments and the L/C Commitments to be terminated forthwith,
whereupon the Revolving Commitments, the Swingline Commitments and the L/C Commitments shall immediately terminate; (ii) with the consent of the Required Lenders, the Administrative Agent may, or

  
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upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrower, declare the Loans (with accrued interest thereon) and all other amounts owing under this
Agreement and the other Loan Documents to be due and payable forthwith, whereupon the same shall immediately become due and payable; (iii) any Cash Management Bank may terminate any Cash Management Agreement then outstanding and declare all
Obligations then owing by the Group Members under any such Cash Management Agreements then outstanding to be due and payable forthwith, whereupon the same shall immediately become due and payable; and (iv) the Administrative Agent may exercise
on behalf of itself, any Cash Management Bank, the Lenders and the Issuing Lender all rights and remedies available to it, any such Cash Management Bank, the Lenders and the Issuing Lender under the Loan Documents. 

With respect to all Letters of Credit with respect to which presentment for honor shall not have occurred at the time of an acceleration
pursuant to this paragraph, the Borrower shall Cash Collateralize an amount equal to 105% (110% in the case of any Letter of Credit in a currency other than Dollars) of the aggregate then undrawn and unexpired amount of such Letters of Credit.
Amounts so Cash Collateralized shall be applied by the Administrative Agent to the payment of drafts drawn under such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if
any, shall be applied to repay other Obligations of the Borrower hereunder and under the other Loan Documents in accordance with Section 8.3. 

In addition, to the extent elected by any applicable Cash Management Bank, the Borrower shall also cash collateralize the amount of any
Obligations in respect of Cash Management Services then outstanding, which cash collateralized amounts shall be applied by the Administrative Agent to the payment of all such outstanding Cash Management Services, and any unused portion thereof
remaining after all such Cash Management Services shall have been fully paid and satisfied in full shall be applied by the Administrative Agent to repay other Obligations of the Loan Parties hereunder and under the other Loan Documents in accordance
with the terms of Section 8.3. 
 (c) After all such Letters of Credit and Cash Management Agreements shall have
been terminated, expired or fully drawn upon, as applicable, and all amounts drawn under any such Letters of Credit shall have been reimbursed in full and all other Obligations of the Borrower and the other Loan Parties (including any such
Obligations arising in connection with Cash Management Services) shall have been paid in full, the balance, if any, of the funds having been so cash collateralized shall be returned to the Borrower (or such other Person as may be lawfully entitled
thereto). Except as expressly provided above in this Section, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Borrower. 

8.3 Application of Funds. After the exercise of remedies provided for in Section 8.2, any amounts
received by the Administrative Agent on account of the Obligations shall be applied by the Administrative Agent in the following order:  

First, to the payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (other than
principal and interest but including any Collateral-Related Expenses, fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Sections 2.15, 2.16 and 2.17 (including interest thereon))
payable to the Administrative Agent, in its capacity as such; 
 Second, to payment of that portion of the Obligations constituting
fees, indemnities and other amounts (other than principal, interest, and Letter of Credit Fees) payable to the Lenders, the Issuing Lender ((including any Letter of Credit Fronting Fees and Issuing Lender Fees), and any Qualified Counterparty and
any applicable Cash Management Bank (in its respective capacity as a provider of Cash Management Services), and the documented out-of-pocket fees, charges and
disbursements of counsel to the respective Lenders and the Issuing Lender, and amounts payable under Sections 2.15, 2.16 and 2.17), in each case, ratably among them in proportion to the respective amounts described in this
clause Second payable to them; 

  
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 Third, to the extent that the Swingline Lender has advanced any Swingline Loans that
have not been refunded by each Lender’s Swingline Participation Amount, payment to the Swingline Lender of that portion of the Obligations constituting the unpaid principal of and interest upon the Swingline Loans advanced by the Swingline
Lender; 
 Fourth, to the payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and
interest in respect of any Cash Management Services and on the Loans and L/C Disbursements which have not yet been converted into Revolving Loans, and to payment of ordinary course settlement payments or premiums and other fees (including any
interest thereon) under any Specified Swap Agreements and any Cash Management Agreements, in each case, ratably among the Lenders, any applicable Cash Management Bank (in its respective capacity as a provider of Cash Management Services), and any
Qualified Counterparties, in each case, ratably among them in proportion to the respective amounts described in this clause Fourth payable to them; 

Fifth, to payment of that portion of the Obligations constituting unpaid principal of the Loans, L/C Disbursements which have not yet
been converted into Revolving Loans, and settlement amounts, payment amounts and other termination payment obligations under any Specified Swap Agreements and Cash Management Agreements, in each case, ratably among the Lenders, any applicable Cash
Management Bank (in its respective capacity as a provider of Cash Management Services), and any applicable Qualified Counterparties, in each case, ratably among them in proportion to the respective amounts described in this clause Fifth and
payable to them; 
 Sixth, to the Administrative Agent for the account of the Issuing Lender, to Cash Collateralize that portion of
the L/C Exposure comprised of the aggregate undrawn Dollar Equivalent amount of Letters of Credit pursuant to Section 3.10; 

Seventh, for the account of any applicable Qualified Counterparty and any applicable Cash Management Bank, to cash collateralize
Obligations arising under any then outstanding Specified Swap Agreements and Cash Management Services, in each case, ratably among them in proportion to the respective amounts described in this clause Seventh payable to them; 

Eight, to the payment of all other Obligations of the Loan Parties that are then due and payable to the Administrative Agent and the
other Secured Parties on such date, in each case, ratably among them in proportion to the respective aggregate amounts of all such Obligations described in this clause Eight and payable to them; 

Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full (excluding, for this purpose, any
Obligations which have been cash collateralized in accordance with the terms hereof), to the Borrower or as otherwise required by law. 
 Subject to
Sections 2.20(a), 3.4, 3.5 and 3.10, amounts used to Cash Collateralize the aggregate undrawn Dollar Equivalent amount of Letters of Credit pursuant to clause Sixth above shall be applied to
satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral for Letters of Credit after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the
other Obligations, if any, in the order set forth above. 
 Notwithstanding the foregoing, no Excluded Swap Obligation of any Guarantor
shall be paid with 

  
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amounts received from such Guarantor or from any Collateral in which such Guarantor has granted to the Administrative Agent a Lien (for the ratable benefit of the Secured Parties) pursuant to the
Guarantee and Collateral Agreement; provided, however, that each party to this Agreement hereby acknowledges and agrees that appropriate adjustments shall be made by the Administrative Agent (which adjustments shall be controlling in
the absence of manifest error) with respect to payments received from other Loan Parties to preserve the allocation of such payments to the satisfaction of the Obligations in the order otherwise contemplated in this
Section 8.3. 
 SECTION 9 

THE ADMINISTRATIVE AGENT 

9.1 Appointment and Authority. 

(a) Each of the Lenders hereby irrevocably appoints SVB to act on its behalf as the Administrative Agent hereunder and under the other Loan
Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably
incidental thereto. 
 (b) The provisions of Section 9 are solely for the benefit of the Administrative Agent, the
Lenders, the Issuing Lender, and the Swingline Lender, and neither the Borrower nor any other Loan Party shall have rights as a third party beneficiary of any of such provisions. Notwithstanding any provision to the contrary elsewhere in this
Agreement, the Administrative Agent shall not have any duties or obligations, except those expressly set forth herein and in the other Loan Documents, or any fiduciary relationship with any Lender, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent. It is understood and agreed that the use of the term “agent” herein or
in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such
term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties. 

(c) The Administrative Agent shall also act as the collateral agent under the Loan Documents, and each of the Lenders (in their respective
capacities as a Lender and, as applicable, Qualified Counterparty and provider of Cash Management Services) hereby irrevocably (i) authorizes the Administrative Agent to enter into all other Loan Documents, as applicable, including the
Guarantee and Collateral Agreement and any subordination agreements in connection with any Subordinated Indebtedness, and (ii) appoints and authorizes the Administrative Agent to act as the agent of the Secured Parties for purposes of
acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. The Administrative Agent, as
collateral agent and any co-agents, sub-agents and attorneys-in-fact appointed by the
Administrative Agent pursuant to Section 9.2 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Security Documents, or for exercising any rights and remedies
thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all provisions of this Section 9 and Section 10 (including Section 9.7) as
though such co-agents, sub-agents and attorneys-in-fact were the collateral agent under
the Loan Documents, as if set forth in full herein with respect thereto. Without limiting the generality of the foregoing, the Administrative Agent is further authorized on behalf of all the Lenders, without the necessity of any notice to or further
consent from the Lenders, from time to time to take any action, or permit the any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent to take any action, with respect to any Collateral or the Loan Documents which may be necessary to perfect and maintain perfected the Liens upon any
Collateral granted pursuant to any Loan Document. 

  
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 9.2 Delegation of Duties. The Administrative Agent may perform any and all of
its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Section shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of
the Facilities provided for herein as well as activities as the Administrative Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent
that a court of competent jurisdiction determines in a final and nonappealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub agents. 

9.3 Exculpatory Provisions. The Administrative Agent shall have no duties or obligations except those expressly set forth herein
and in the other Loan Documents, and its duties hereunder and thereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Administrative Agent shall not: 

(a) be subject to any fiduciary or other implied duties, regardless of whether any Default or any Event of Default has occurred and is
continuing; 
 (b) have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and
powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly
provided for herein or in the other Loan Documents); provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that
is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property
of a Defaulting Lender in violation of any Debtor Relief Law; and 
 (c) except as expressly set forth herein and in the other Loan
Documents, have any duty to disclose, and the Administrative Agent shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by any Person serving as the
Administrative Agent or any of its Affiliates in any capacity. 
 The Administrative Agent shall not be liable for any action taken or not
taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the
circumstances as provided in Sections 8.2 and 10.1), or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable
judgment. 
 The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement,
warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith,
(iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of Default, (iv) the validity, enforceability, effectiveness or
genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Section 5.1, Section 5.2 or
elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

  
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 9.4 Reliance by Administrative Agent. The Administrative Agent shall be
entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, internet or intranet website posting or other
distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been
made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its
terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the
making of such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for any of the Loan Parties), independent accountants and other experts selected by it, and shall not be liable
for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. The Administrative Agent may deem and treat the payee of any Note as the owner thereof for all purposes unless a written notice of
assignment, negotiation or transfer thereof shall have been filed with the Administrative Agent. The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it
shall first receive such advice or concurrence of the Required Lenders (or such other number or percentage of Lenders as shall be provided for herein or in the other Loan Documents) as it deems appropriate or it shall first be indemnified to its
satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action. The Administrative Agent shall in all cases be fully protected in acting, or in refraining
from acting, under this Agreement and the other Loan Documents in accordance with a request of the Required Lenders (or such other number or percentage of Lenders as shall be provided for herein or in the other Loan Documents), and such request and
any action taken or failure to act pursuant thereto shall be binding upon the Lenders and all future holders of the Loans. 
 9.5
Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless the Administrative Agent has received notice in writing from a Lender or the Borrower
referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall
give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders);
provided that unless and until the Administrative Agent shall have received such directions, the Administrative Agent may (but shall not be obligated to) take such action or refrain from taking such action with respect to such Default or
Event of Default as it shall deem advisable in the best interests of the Lenders. 
 9.6
Non-Reliance on Administrative Agent and Other Lenders. Each Lender expressly acknowledges that neither the Administrative Agent nor any of its officers, directors, employees, agents, attorneys in fact
or affiliates has made any representations or warranties to it and that no act by the Administrative Agent hereafter taken, including any review of the affairs of a Group Member or any Affiliate of a Group Member, shall be deemed to constitute any
representation or warranty by the Administrative Agent to any Lender. Each Lender represents to the Administrative Agent that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related
Parties, and based on such documents and information as it has deemed appropriate, made its own appraisal of, and investigation into, the business, operations, property, financial and other condition and creditworthiness of the Group Members and
their affiliates and made its own credit analysis and decision 

  
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to make its Loans hereunder and enter into this Agreement. Each Lender also agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of
their Related Parties, and based on such documents and information as it shall from time to time deem appropriate, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under or based upon this Agreement,
the other Loan Documents or any related agreement or any document furnished hereunder or thereunder, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and
creditworthiness of the Group Members and their affiliates. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent hereunder, the Administrative Agent shall have no duty or
responsibility to provide any Lender with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of any Group Member or any Affiliate of a Group Member that
may come into the possession of the Administrative Agent or any of its officers, directors, employees, agents, attorneys in fact or affiliates. 

9.7 Indemnification. Each of the Lenders agrees to severally indemnify each of the Administrative Agent, the Issuing Lender and
the Swingline Lender and each of its Related Parties in its capacity as such (to the extent not reimbursed by the Borrower or any other Loan Party and without limiting the obligation of the Borrower or any other Loan Party to do so) according to its
Aggregate Exposure Percentage in effect on the date on which indemnification is sought under this Section 9.7 (or, if indemnification is sought after the date upon which the Commitments shall have terminated and the Loans
shall have been paid in full, in accordance with its Aggregate Exposure Percentage immediately prior to such date), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted against the Administrative Agent or such other Person in any way relating to or arising out of, the
Commitments, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by the Administrative Agent or such
other Person under or in connection with any of the foregoing and any other amounts not reimbursed by the Borrower or such other Loan Party; provided that no Lender shall be liable for the payment of any portion of such liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted primarily from the Administrative
Agent’s or such other Person’s gross negligence or willful misconduct, and that with respect to such unpaid amounts owed to any Issuing Lender or Swingline Lender solely in its capacity as such, only the Revolving Lenders shall be required
to pay such unpaid amounts, such payment to be made severally among them based on such Revolving Lenders’ Revolving Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought). The agreements
in this Section shall survive the payment of the Loans and all other amounts payable hereunder. 
 9.8 Agent in Its
Individual Capacity. The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the
term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its
Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as
if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders. 

  
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 9.9 Successor Administrative Agent. 

(a) The Administrative Agent may at any time give notice of its resignation to the Lenders and the Borrower. Upon receipt of any such notice
of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days
after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but
shall not be obligated to), on behalf of the Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above; provided that in no event shall any such successor Administrative Agent be a Defaulting Lender. Whether
or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date. 

(b) If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof, the Required
Lenders may, to the extent permitted by applicable law, by notice in writing to the Borrower and such Person remove such Person as Administrative Agent and, in consultation with the Borrower, appoint a successor. If no such successor shall have been
so appointed by the Required Lenders and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless
become effective in accordance with such notice on the Removal Effective Date. 
 (c) With effect from the Resignation Effective Date or the
Removal Effective Date (as applicable) (i) the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by
the Administrative Agent on behalf of the Secured Parties under any of the Loan Documents, the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed
and such collateral security is assigned to such successor Administrative Agent) and (ii) except for any indemnity payments owed to the retiring or removed Administrative Agent, all payments, communications and determinations provided to be
made by, to or through the Administrative Agent shall instead be made by or to each Lender directly, until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance
of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring or removed Administrative Agent (other than any rights to
indemnity payments owed to the retiring or removed Administrative Agent), and the retiring or removed Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already
discharged therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor.
After the retiring or removed Administrative Agent’s resignation or removal hereunder and under the other Loan Documents, the provisions of Section 9 and Section 10.5 shall continue in effect
for the benefit of such retiring or removed Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring or
removed Administrative Agent was acting as the Administrative Agent. 
 9.10 Collateral and Guaranty Matters. 

(a) The Lenders irrevocably authorize the Administrative Agent, at its option and in its discretion, 

(i) to release any Lien on any Collateral or other property granted to or held by the Administrative Agent under any Loan Document
(i) upon the Discharge of Obligations (other than 

  
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contingent indemnification obligations) and the expiration or termination of all Letters of Credit (other than Letters of Credit as to which other arrangements satisfactory to the Administrative
Agent and the applicable Issuing Lender shall have been made), (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted hereunder or under any
other Loan Document, or (iii) subject to Section 10.1, if approved, authorized or ratified in writing by the Required Lenders; 

(ii) to subordinate any Lien on any Collateral or other property granted to or held by the Administrative Agent under any Loan Document to
the holder of any Lien on such property that is permitted by clause (c) of the definition of Permitted Lien; 
 (iii) to release any
Guarantor from its obligations under the Guarantee and Collateral Agreement if such Person ceases to be a Subsidiary as a result of a transaction permitted under the Loan Documents; and 

(b) for the avoidance of doubt, notwithstanding anything to the contrary contained herein or in any other Loan Document, the Administrative
Agent is hereby irrevocably authorized by each Lender take any action permitted by Section 10.16. 
 Upon request
by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its
obligations under the guaranty pursuant to this Section 9.10. 
 (c) The Administrative Agent shall not be
responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s Lien thereon, or
any certificate prepared by any Loan Party in connection therewith, nor shall the Administrative Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral. 

(d) Notwithstanding anything contained in any Loan Document, no Secured Party shall have any right individually to realize upon any of the
Collateral or to enforce any guaranty of the Obligations (including any such guaranty provided by the Guarantors pursuant to the Guarantee and Collateral Agreement), it being understood and agreed that all powers, rights and remedies under the Loan
Documents may be exercised solely by the Administrative Agent on behalf of the Secured Parties in accordance with the terms thereof; provided that, for the avoidance of doubt, in no event shall a Secured Party be restricted hereunder from
filing a proof of claim on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law or any other judicial proceeding. In the event of a foreclosure by the Administrative Agent on any of the Collateral
pursuant to a public or private sale or other disposition, the Administrative Agent or any Secured Party may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition, and the Administrative Agent, as agent
for and representative of such Secured Party (but not any Lender or Lenders in its or their respective individual capacities unless the Required Lenders shall otherwise agree in writing) shall be entitled, for the purpose of bidding and making
settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Obligations as a credit on account of the purchase price for any Collateral payable by the Administrative
Agent on behalf of the Secured Parties at such sale or other disposition. Each Secured Party, whether or not a party hereto, will be deemed, by its acceptance of the benefits of the Collateral and of the guarantees of the Obligations provided by the
Loan Parties under the Guarantee and Collateral Agreement, to have agreed to the foregoing provisions. In furtherance of the foregoing, and not in limitation thereof, no Specified Swap Agreement and no Cash Management Agreement, the Obligations
under which constitute Obligations, will create (or be deemed to 

  
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create) in favor of any Secured Party that is a party thereto any rights in connection with the management or release of any Collateral or of the Obligations of any Loan Party under any Loan
Document except as expressly provided herein or in the Guarantee and Collateral Agreement. By accepting the benefits of the Collateral and of the guarantees of the Obligations provided by the Loan Parties under the Guarantee and Collateral
Agreement, any Secured Party that is a Cash Management Bank or a Qualified Counterparty shall be deemed to have appointed the Administrative Agent to serve as administrative agent and collateral agent under the Loan Documents and to have agreed to
be bound by the Loan Documents as a Secured Party thereunder, subject to the limitations set forth in this paragraph. 
 9.11
Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal
of any Loan or Obligation in respect of any Letter of Credit shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be
entitled and empowered (but not obligated), by intervention in such proceeding or otherwise: 
 (a) to file and prove a claim for the whole
amount of the principal and interest owing and unpaid in respect of the Loans, Obligations in respect of any Letter of Credit and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable to
have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other
amounts due the Lenders and the Administrative Agent under Sections 2.6 and 10.5) allowed in such judicial proceeding; and 

(b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by
each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable
compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.6 and 10.5. 

Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any
Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding. 

9.12 No Other Duties, etc. Anything herein to the contrary notwithstanding, none of the “Bookrunners,” or
“Arrangers,” or “Documentation Agents” listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the
Administrative Agent, a Lender, the Issuing Lender or the Swingline Lender hereunder. 
 9.13 Cash Management Bank and Qualified
Counterparty Reports. Each Cash Management Bank and each Qualified Counterparty agrees to furnish to the Administrative Agent, as frequently as the Administrative Agent may reasonably request, with a summary of all Obligations in respect of Cash
Management Services and/or Specified Swap Agreements, as applicable, due or to become due to such Cash Management Bank or Qualified Counterparty, as applicable. In connection with any distributions to be made hereunder, the Administrative Agent
shall be entitled to assume that no amounts 

  
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are due to any Cash Management Bank or Qualified Counterparty (in its capacity as a Cash Management Bank or Qualified Counterparty and not in its capacity as a Lender) unless the Administrative
Agent has received written notice thereof from such Cash Management Bank or Qualified Counterparty and if such notice is received, the Administrative Agent shall be entitled to assume that the only amounts due to such Cash Management Bank or
Qualified Counterparty on account of Cash Management Services or Specified Swap Agreements are set forth in such notice. 
 9.14
Survival. This Section 9 shall survive the Discharge of Obligations. 
 SECTION 10 

MISCELLANEOUS 
 10.1
Amendments and Waivers. 
 (a) Neither this Agreement, any Loan Document, nor any terms hereof or thereof may be amended, supplemented
or modified except in accordance with the provisions of this Section 10.1. The Required Lenders and each Loan Party party to the relevant Loan Document may, or, with the written consent of the Required Lenders, the
Administrative Agent and each Loan Party party to the relevant Loan Document may, from time to time, (i) enter into written amendments, supplements or modifications hereto and to the Loan Documents for the purpose of adding any provisions to
this Agreement or the Loan Documents or changing in any manner the rights of the Lenders or of the Loan Parties hereunder or thereunder or (ii) waive, on such terms and conditions as the Required Lenders or the Administrative Agent, as the case
may be, may specify in such instrument, any of the requirements of this Agreement or the Loan Documents or any Default or Event of Default and its consequences; provided that no such waiver and no such amendment, supplement or modification
shall (A) forgive the principal amount or extend the final scheduled date of maturity of any Loan, reduce the stated rate of any interest or fee payable hereunder (except that any amendment or modification of defined terms used in the financial
covenant in this Agreement shall not constitute a reduction in the rate of interest or fees for purposes of this clause (A)), extend the scheduled date of any payment thereof, or increase the amount or extend the expiration date of any Lender’s
Revolving Commitment (including via any amendment to the definition of Borrowing Base), amend, modify or waive this Section 10.1 (except as otherwise restricted pursuant to clause (a)(B) below), or amend, modify or waive
the definition of “Required Lenders” (except as otherwise permitted pursuant to clause (a)(C) below), without the written consent of each Lender directly affected thereby; (B) eliminate or reduce the voting rights of any Lender under
this Section 10.1 without the written consent of such Lender; (C) amend, modify or waive Section 5.2(g) or 5.3(c), reduce any percentage specified in the definition of Required Lenders,
consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement and the Loan Documents, release all or substantially all of the Collateral or release all or substantially all of the Guarantors from
their obligations under the Guarantee and Collateral Agreement unless otherwise permitted under this Agreement, in each case without the written consent of all Lenders; (D) (1) amend, modify or waive the pro rata requirements of
Section 2.14 in a manner that adversely affects Revolving Lenders or the L/C Lenders without the written consent of each Revolving Lender or the L/C Lenders or (2) otherwise amend, modify or waive the pro rata
treatment of Lenders without the written consent of each Lender directly affected thereby; (E) amend, modify or waive any provision of Section 9 without the written consent of the Administrative Agent; (F) amend,
modify or waive any provision of Section 2.3 or 2.4 without the written consent of the Swingline Lender; (G) amend, modify or waive any provision of Section 3 without the written
consent of the Issuing Lender; or (H) (i) amend or modify the application of payments set forth in Section 8.3 in a manner that adversely affects Revolving Lenders without the written consent of the Required
Lenders, (ii) amend or modify the application of payments set forth in Section 8.3 in a manner that adversely affects the L/C Lenders without the written consent of the L/C Lenders, or (iii) amend or modify
(a) the application of payments provisions set forth in Section 8.3, (b) the definitions of Qualified Counterparty, Specified Swap Agreement, Swap Termination 

  
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Value, Interest Rate Agreement, Obligation or Secured Parties, (c) the provisions of this clause 10.1(a)(H)(iii), (d) the terms of Section 7.13, or
(e) any terms that would release collateral under the Security Documents, in each case, in a manner that adversely affects the Issuing Lender, any Cash Management Bank or any Qualified Counterparty, as applicable, without the written consent of
the Issuing Lender, such Cash Management Bank or any such Qualified Counterparty, as applicable. Any such waiver and any such amendment, supplement or modification shall apply equally to each of the Lenders and shall be binding upon the Loan
Parties, the Lenders, the Administrative Agent, the Issuing Lender, each Cash Management Bank, each Qualified Counterparty, and all future holders of the Loans. In the case of any waiver, the Loan Parties, the Lenders and the Administrative Agent
shall be restored to their former position and rights hereunder and under the Loan Documents, and any Default or Event of Default waived shall be deemed to be cured during the period such waiver is effective; but no such waiver shall extend to any
subsequent or other Default or Event of Default, or impair any right consequent thereon. 
 (b) Notwithstanding anything to the contrary
contained in Section 10.1(a) above, in the event that the Borrower requests that this Agreement or any of the Loan Documents be amended or otherwise modified in a manner which would require the consent of all of the Lenders
and such amendment or other modification is agreed to by the Borrower, the Required Lenders and the Administrative Agent, then, with the consent of the Borrower, the Administrative Agent and the Required Lenders, this Agreement or Loan Document may
be amended without the consent of the Lender or Lenders who are unwilling to agree to such amendment or other modification (each, a “Minority Lender”), to provide for: 

(i) the termination of the Commitment of each such Minority Lender; 

(ii) the assumption of the Loans and Commitment of each such Minority Lender by one or more Replacement Lenders pursuant to the provisions of
Section 2.19; and 
 (iii) the payment of all interest, fees and other obligations payable or accrued in favor of
each Minority Lender and such other modifications to this Agreement or to Loan Documents as the Borrower, the Administrative Agent and the Required Lenders may determine to be appropriate in connection therewith. 

(c) Notwithstanding any provision herein to the contrary, this Agreement may be amended (or amended and restated) with the written consent of
the Required Lenders, the Administrative Agent, and the Borrower, (i) to add one or more additional credit facilities to this Agreement and to permit all such additional extensions of credit and all related obligations and liabilities arising
in connection therewith and from time to time outstanding thereunder to share ratably (or on a basis subordinated to the existing facilities hereunder) in the benefits of this Agreement and the Loan Documents with the obligations and liabilities
from time to time outstanding in respect of the existing facilities hereunder, and (ii) in connection with the foregoing, to permit, as deemed appropriate by the Administrative Agent and approved by the Required Lenders, the Lenders providing
such additional credit facilities to participate in any required vote or action required to be approved by the Required Lenders. 
 (d)
Notwithstanding any provision herein to the contrary, any Cash Management Agreement may be amended or otherwise modified by the parties thereto in accordance with the terms thereof without the consent of the Administrative Agent or any Lender. 

(e) Except as otherwise provided in Section 10.1(a), notwithstanding any other provision herein or in any other Loan
Document to the contrary, no Cash Management Bank and no Qualified Counterparty shall have any voting or approval rights hereunder (or be deemed a Lender) solely by virtue of its status as the provider or holder of Cash Management Services or
Specified Swap Agreements or Obligations owing thereunder, nor shall the consent of any such Cash Management Bank or Qualified Counterparty, as applicable, be required for any matter, other than in their capacities as Lenders, to the extent
applicable. 

  
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 (f) The Administrative Agent may, with the consent of the Borrower only, amend, modify or
supplement this Agreement or any of the Loan Documents to cure any omission, mistake or defect. 
 (g) Notwithstanding any other provision
herein to the contrary, no consent of any Lender (or other Secured Party other than the Administrative Agent) shall be required to effectuate any amendment to implement any Increase permitted by Section 2.21. 

10.2 Notices(h) . 
 (a)
All notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by facsimile or electronic mail), and, unless otherwise expressly provided herein, shall be deemed to have been duly given or
made when delivered, or three Business Days after being deposited in the mail, postage prepaid, or, in the case of facsimile or electronic mail notice, when received, addressed as follows in the case of the Borrower and the Administrative Agent, and
as set forth in an administrative questionnaire delivered to the Administrative Agent in the case of the Lenders, or to such other address as may be hereafter notified by the respective parties hereto: 

 

			
	 Borrower:
	  	 UiPath, Inc.
 90 Park Avenue, 20th Floor

New York, NY 10016
 Attn: Philip Kean, VP, Global Treasury

Email: treasury@uipath.com

		  	  
 with a copy to:

 
 contractnotice@uipath.com

 
 and a copy to (which shall not constitute
notice):
  
 Clifford Chance US LLP

31 West 52nd Street

New York, NY 1019

Attention: Chris Willott, Esq.

Email: chris.willott@cliffordchance.com

		
	 Administrative Agent:
	  	 Silicon Valley Bank
 275 Grove Street

Newton, MA 02466
 Attention: Phil Silvia

E-Mail: psilvia@svb.com

		
	 with a copy to:
	  	 Morrison & Foerster LLP

200 Clarendon Street

Boston, Massachusetts 02116

Attn.: Charles W. Stavros, Esq.

E-mail: cstavros@mofo.com

  
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 provided that any notice, request or demand to or upon the Administrative Agent or
the Lenders shall not be effective until received. 
 (b) Notices and other communications to the Lenders hereunder may be delivered or
furnished by electronic communications (including email and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices to any Lender pursuant to
Section 2 unless otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by
electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. Unless the Administrative Agent otherwise prescribes, (i) notices
and other communications sent to an email address shall be deemed received upon the sender’s receipt of an acknowledgment from the intended recipient (such as by the “return receipt requested” function, as available, return email or
other written acknowledgment); and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its email address as described in the foregoing clause
(i) of notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii), if such notice or other communication is not sent during the normal
business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient. 

(c) Any party hereto may change its address or email address for notices and other communications hereunder by notice to the other parties
hereto. 
 (d) (i) Each Loan Party agrees that the Administrative Agent may, but shall not be obligated to, make the Communications (as
defined below) available to the Issuing Lender and the other Lenders by posting the Communications on the Platform. 
 (ii) The Platform is
provided “as is” and “as available.” The Agent Parties (as defined below) do not warrant the adequacy of the Platform and expressly disclaim liability for errors or omissions in the Communications. No warranty of any kind,
express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code
defects, is made by any Agent Party in connection with the Communications or the Platform. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the
Borrower or the other Loan Parties, any Lender or any other Person or entity for damages of any kind, including direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out
of the Borrower’s, any Loan Party’s or the Administrative Agent’s transmission of communications through the Platform. “Communications” means, collectively, any notice, demand, communication, information,
document or other material provided by or on behalf of any Loan Party pursuant to this Agreement or any Loan Document or the transactions contemplated therein which is distributed to the Administrative Agent, any Lender or the Issuing Lender by
means of electronic communications pursuant to this Section, including through the Platform. 
 10.3 No Waiver; Cumulative
Remedies. No failure to exercise and no delay in exercising, on the part of the Administrative Agent or any Lender, any right, remedy, power or privilege hereunder or under the Loan Documents shall operate as a waiver thereof; nor shall any
single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided
are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 

  
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 10.4 Survival of Representations and Warranties. All representations and
warranties made hereunder, in the Loan Documents and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement and the making of the Loans and other
extensions of credit hereunder. 
 10.5 Expenses; Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Borrower shall pay (i) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (including the reasonable and documented fees, charges and disbursements of counsel for the Administrative Agent), in connection
with the syndication of the Facilities, the preparation, negotiation, execution, delivery and administration of this Agreement and the Loan Documents, or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not
the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the Issuing Lender in connection with
the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder, and (iii) all out-of-pocket expenses incurred by the
Administrative Agent or any Lender (including the fees, charges and disbursements of any counsel for the Administrative Agent or any Lender), in connection with the enforcement or protection of its rights (A) in connection with this Agreement
and the Loan Documents, including its rights under this Section, or (B) in connection with the Loans made or Letters of Credit issued or participated in hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

(b) Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent (and any
sub-agent thereof), each Lender (including the Issuing Lender), and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold
each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by
any Person (including the Borrower or any other Loan Party) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any Loan Document or any
agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Loan or
Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the Issuing Lender to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly
comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Materials of Environmental Concern on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental
Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory,
whether brought by a third party or by the Borrower or any other Loan Party, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such
losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee,
(y) result from a claim brought by the Borrower or any other Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any Loan Document, if the Borrower or such Loan Party has obtained a
final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction, or (z) result from a claim not involving an act or omission of the Borrower and that is brought by an Indemnitee against another
Indemnitee (other than against any arranger or the Administrative Agent in their capacities as such). This Section 10.5(b) shall not apply with respect to Taxes. 

  
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 (c) Reimbursement by Lenders. To the extent that the Borrower for any reason fails
indefeasibly to pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the Issuing Lender, the Swingline Lender or
any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the Issuing Lender, the Swingline Lender or such Related Party, as the case
may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the Total Credit Exposure at such time) of such unpaid amount
(including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts owed to the Issuing Lender or the Swingline Lender solely in its capacity as such, only the Revolving Lenders
shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Revolving Lenders’ Revolving Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is
sought); provided further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), the Issuing Lender or the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such
sub-agent), the Issuing Lender or the Swingline Lender in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Sections 2.1 and
2.16(e). 
 (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable law, the Borrower and each
other Loan Party shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with,
or as a result of, this Agreement, any Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit, or the use of the proceeds thereof. No Indemnitee referred to in
paragraph (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in
connection with this Agreement or the Loan Documents or the transactions contemplated hereby or thereby. 
 (e) Payments. All amounts
due under this Section shall be payable promptly after demand therefor. 
 (f) Survival. Each party’s obligations under this
Section shall survive the Discharge of Obligations. 
 10.6 Successors and Assigns; Participations and Assignments. 

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns permitted hereby (which, for purposes of this Section 10.6, shall include any Cash Management Bank and any Qualified Counterparty), except that neither the Borrower nor any
other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender, and no Lender may assign or otherwise transfer any of its rights or
obligations hereunder except (i) to an assignee in accordance with the provisions of paragraph (b) of this Section, (ii) by way of participation in accordance with the provisions of Section 10.6(d), or
(iii) by way of pledge or assignment of a security interest subject to the restrictions of Section 10.6(e) (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this
Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in paragraph (d) of this Section and, to
the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

  
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 (b) Assignments by Lenders. Any Lender may at any time assign to one or more
assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that (in each case with respect to any Facility) any such assignment
shall be subject to the following conditions: 
 (i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and/or the Loans at the time owing
to it (in each case with respect to any Facility) or contemporaneous assignments to related Approved Funds (determined after giving effect to such assignments) that equal at least the amount specified in paragraph (b)(i)(B) of this Section in the
aggregate or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

(B) in any case not described in paragraph (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for this purpose includes
Loans outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption
with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date) shall not be less than $5,000,000, in the case of any
assignment in respect of the Revolving Facility unless the Administrative Agent and, so long as no Default or Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or
delayed). 
 (ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the
assigning Lender’s rights and obligations under this Agreement with respect to the Loan or the Commitment assigned, except that this clause (ii) shall not prohibit any Lender from assigning all or a portion of its rights and obligations
among separate Facilities on a non-pro rata basis. 
 (iii) Required Consents. No consent
shall be required for any assignment except to the extent required by paragraph (b)(i)(B) of this Section and, in addition: 
 (A) the
consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (x) a Default or an Event of Default has occurred and is continuing at the time of such assignment, or (y) such assignment is
to a Lender, an Affiliate of a Lender or an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five Business
Days after having received notice thereof, and provided, further, that the Borrower’s consent shall not be required during the primary syndication of the Facilities; 

(B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required for assignments in
respect of the Revolving Facility if such assignment is to a Person that is not a Lender with a Commitment in respect of such Facility, an Affiliate of such Lender or an Approved Fund with respect to such Lender; and 

(C) the consent of the Issuing Lender and the Swingline Lender shall be required for any assignment in respect of the Revolving Facility.

  
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 (iv) Assignment and Assumption. The parties to each assignment shall execute and
deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500; provided that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee
in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent any such administrative questionnaire as the Administrative Agent may request. 

(v) No Assignment to Certain Persons. No such assignment shall be made to (A) the Borrower or any of the Borrower’s
Affiliates or Subsidiaries or (B) any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B). 

(vi) No Assignment to Natural Persons. No such assignment shall be made to a natural Person (or a holding company, investment vehicle
or trust established for, or owned and operated for the primary benefit of, a natural Person). 
 (vii) Certain Additional Payments.
In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall
make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and
assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the Issuing Lender, the Swingline Lender and each other Lender hereunder (and interest
accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in Letters of Credit and Swingline Loans in accordance with its Revolving Percentage. Notwithstanding the foregoing, in the
event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a
Defaulting Lender for all purposes of this Agreement until such compliance occurs. 
 Subject to acceptance and recording thereof by the Administrative
Agent pursuant to paragraph (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such
Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under
this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits
of Sections 2.15, 2.16, 2.17 and 10.5 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise
expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment or transfer by a
Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph
(d) of this Section. 
 (c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower,
shall maintain at one of its offices in California a copy of each Assignment and Assumption 

  
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delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans owing to, each
Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person
whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time
upon reasonable prior notice. 
 (d) Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower
or the Administrative Agent, sell participations to any Person (other than a natural Person, a holding company, investment vehicle or trust established for, or owned and operated for the primary benefit of, a natural Person, or the Borrower or any
of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the
Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations,
and (iii) the Borrower, the Administrative Agent, the Issuing Lender and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the
avoidance of doubt, each Lender shall be responsible for the indemnities under Sections 2.16(e) and 9.7 with respect to any payments made by such Lender to its Participant(s). 

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right
to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree
to any amendment, modification or waiver which affects such Participant and for which the consent of such Lender is required (as described in Section 10.1). The Borrower agrees that each Participant shall be entitled to the
benefits of Sections 2.15, 2.16 and 2.17 (subject to the requirements and limitations therein, including the requirements under Section 2.16(f) (it being understood that the
documentation required under Section 2.16(f) shall be delivered by such Participant to the Lender granting such participation)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant
to Section 10.6(b); provided that such Participant (A) agrees to be subject to the provisions of Sections 2.19 as if it were an assignee under Section 10.6(b); and (B) shall
not be entitled to receive any greater payment under Sections 2.15 or 2.16, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a
greater payment results from a change in any Requirement of Law that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable
efforts to cooperate with the Borrower to effectuate the provisions of Section 2.19 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of
Section 10.7 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.14(k) as though it were a Lender. Each Lender that sells a
participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and
stated interest) of each Participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion
of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under this Agreement) to any Person except to
the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury
Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this
Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

  
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 (e) Certain Pledges. Any Lender may at any time pledge or assign a security interest
in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such
Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (f)
Notes. The Borrower, upon receipt by the Borrower of written notice from the relevant Lender, agrees to issue Notes to any Lender requiring Notes to facilitate transactions of the type described in Section 10.6. 

(g) Representations and Warranties of Lenders. Each Lender, upon execution and delivery hereof or upon succeeding to an interest in the
Commitments or Loans, as the case may be, represents and warrants as of the Closing Date or as of the effective date of the applicable Assignment and Assumption that (i) it is an Eligible Assignee; (ii) it has experience and expertise in
the making of or investing in commitments, loans or investments such as the Commitments and Loans; and (iii) it will make or invest in its Commitments and Loans for its own account in the ordinary course of its business and without a view to
distribution of such Commitments and Loans within the meaning of the Securities Act or the Exchange Act, or other federal securities laws (it being understood that, subject to the provisions of this Section 10.6, the
disposition of such Commitments and Loans or any interests therein shall at all times remain within its exclusive control). 
 10.7
Adjustments; Set-off. 
 (a) Except to the extent that this Agreement expressly provides for
payments to be allocated to a particular Lender or to the Lenders under a particular Facility, if any Lender (a “Benefitted Lender”) shall, at any time after the Loans and other amounts payable hereunder shall immediately
become due and payable pursuant to Section 8.2, receive any payment of all or part of the Obligations owing to it, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 8.1(f), or otherwise), in a greater proportion than any such payment to or collateral received by any other
Lender, if any, in respect of the Obligations owing to such other Lender, such Benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of the Obligations owing to each such other Lender, or shall
provide such other Lenders with the benefits of any such collateral, as shall be necessary to cause such Benefitted Lender to share the excess payment or benefits of such collateral ratably with each of the Lenders; provided that if all or
any portion of such excess payment or benefits is thereafter recovered from such Benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. 

(b) Upon (i) the occurrence and during the continuance of any Event of Default and (ii) obtaining the prior written consent of the
Administrative Agent, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, without prior notice to the Borrower or any other Loan Party, any such notice being expressly waived by the Borrower and each Loan
Party, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final), in any currency, at any time held or owing, and any other credits, indebtedness, claims
or obligations, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender, its Affiliates or any branch or agency thereof to or for the credit or the account of
the Borrower or any other Loan Party, as the case may be, against any and all of the obligations of the Borrower or such other Loan Party now or hereafter 

  
 113 

 
existing under this Agreement or any other Loan Document to such Lender or its Affiliates, irrespective of whether or not such Lender or Affiliate shall have made any demand under this Agreement
or any other Loan Document and although such obligations of the Borrower or such other Loan Party may be contingent or unmatured or are owed to a branch, office or Affiliate of such Lender different from the branch, office or Affiliate holding such
deposit or obligated on such indebtedness; provided, that in the event that any Defaulting Lender or any of its Affiliates shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the
Administrative Agent for further application in accordance with the provisions of Section 2.19 and, pending such payment, shall be segregated by such Defaulting Lender or Affiliate thereof from its other funds and deemed
held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting
Lender or Affiliate thereof as to which it exercised such right of setoff. Each Lender agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application made by such Lender or any of its Affiliates;
provided that the failure to give such notice shall not affect the validity of such setoff and application. The rights of each Lender and its Affiliates under this Section 10.7 are in addition to other rights and
remedies (including other rights of set-off) which such Lender or its Affiliates may have. 

10.8 Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is made to the Administrative Agent or
any Lender, or the Administrative Agent or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required
(including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then (a) to the
extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender
severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date
such payment is made at a rate per annum equal to the Federal Funds Effective Rate from time to time in effect. The obligations of the Lenders under clause (b) of the preceding sentence shall survive the Discharge of Obligations. 

10.9 Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or
agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable law (the “Maximum Rate”). If the Administrative Agent or
any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest
contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable law, (a) characterize any payment that is not principal as an expense, fee, or premium
rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations
hereunder. 
 10.10 Counterparts; Electronic Execution of Assignments. 

(a) This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts, and all of said
counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Agreement by facsimile or other electronic mail transmission shall be effective as delivery of a manually executed
counterpart hereof. A set of the copies of this Agreement signed by all the parties shall be lodged with the Borrower and the Administrative Agent. 

  
 114 

 (b) The words “execution,” “signed,” “signature,” and words of
like import in any Loan Document or any other written instrument delivered pursuant thereto shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

10.11 Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 10.11, if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders
shall be limited under or in connection with any Insolvency Proceeding, as determined in good faith by the Administrative Agent or the Issuing Lender, as applicable, then such provisions shall be deemed to be in effect only to the extent not so
limited. 
 10.12 Integration. This Agreement and the other Loan Documents represent the entire agreement of the Borrower, the
other Loan Parties, the Administrative Agent and the Lenders with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties by the Administrative Agent or any Lender relative to the
subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents. 
 10.13 GOVERNING LAW.
THIS AGREEMENT, THE OTHER LOAN DOCUMENTS, AND ANY CLAIM, CONTROVERSY, DISPUTE, CAUSE OF ACTION, OR PROCEEDING (WHETHER BASED IN CONTRACT, TORT, OR OTHERWISE) BASED UPON, ARISING OUT OF, CONNECTED WITH, OR RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY, AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO AND THERETO, SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE INTERNAL LAWS (AND NOT THE CONFLICT OF LAW RULES) OF THE STATE OF NEW YORK. This Section 10.13 shall survive the Discharge of Obligations. 

10.14 Submission to Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally: 

(a) agrees that all disputes, controversies, claims, actions and other proceedings involving, directly or indirectly, any matter in any way
arising out of, related to, or connected with, this Agreement, any other Loan Document, any contemplated transactions related hereto or thereto, or the relationship between any Loan Party, on the one hand, and the Administrative Agent or any Lender
or any other Secured Party, on the other hand, and any and all other claims of any the Borrower against the Administrative Agent or any Lender or any other Secured Party of any kind, shall be brought only in a state court located in the Borough of
Manhattan, or in a federal court sitting in the Borough of Manhattan; provided that nothing in this Agreement shall be deemed to operate to preclude the Administrative Agent or any Lender or any other Secured Party from bringing suit or
taking other legal action in any other jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Administrative Agent or such Lender or any other Secured Party. The
Borrower, on behalf of itself and each other Loan Party, (i) expressly submits and consents in advance to such jurisdiction in any action or suit commenced in any such court and to the selection of any referee referred to below,
(ii) hereby waives any objection that it may have based upon lack of personal jurisdiction, 

  
 115 

 
improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is deemed appropriate by such court, and (iii) agrees that it shall not file
any motion or other application seeking to change the venue of any such suit or other action. The Borrower, on behalf of itself and each other Loan Party, hereby waives personal service of any summons, complaints, and other process issued in any
such action or suit and agrees that service of any such summons, complaints, and other process may be made by registered or certified mail addressed to the Borrower at the address set forth in Section 10.2 of this Agreement
and that service so made shall be deemed completed upon the earlier to occur of the Borrower’s actual receipt thereof or three days after deposit in the U.S. mails, proper postage prepaid; 

(b) WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ITS RIGHT TO A JURY TRIAL OF ANY CLAIM, CAUSE OF ACTION, OR PROCEEDING (WHETHER
BASED IN CONTRACT, TORT, OR OTHERWISE) BASED UPON, ARISING OUT OF, CONNECTED WITH, OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT, OR ANY TRANSACTION CONTEMPLATED HEREBY AND THEREBY, AMONG ANY OF THE PARTIES HERETO AND THERETO. THIS WAIVER
IS A MATERIAL INDUCEMENT FOR THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS. THE BORROWER HAS REVIEWED THIS WAIVER WITH ITS COUNSEL; 

(c) AGREES, WITHOUT INTENDING IN ANY WAY TO LIMIT ITS AGREEMENT TO WAIVE ITS RIGHT TO A TRIAL BY JURY, that if (i) any action
or proceeding is filed in a court of the State of California by or against any party hereto in connection with any of the transactions contemplated by this Agreement or any other Loan Document, and (ii) the above waiver of the right to a trial
by jury is held by a court to be unenforceable, any and all disputes or controversies of any nature arising under this Agreement, any other Loan Document, or any contemplated transactions related hereto or thereto among any of the parties hereto or
thereto at any time shall be decided by a reference to a referee who shall be a retired state or federal judge with judicial experience in civil matters, mutually selected by the Borrower, the Administrative Agent and the Lenders (or, if they cannot
agree, by the Presiding Judge of the Santa Clara County Superior Court) appointed in accordance with California Code of Civil Procedure Section 638 (or pursuant to comparable provisions of federal law if the dispute falls within the exclusive
jurisdiction of the federal courts), sitting without a jury, in Santa Clara County, California; and the Borrower hereby submits to the jurisdiction of such court. Any such judicial reference proceedings shall be conducted pursuant to and in
accordance with the provisions of California Code of Civil Procedure §§ 638 through 645.1, inclusive. The referee shall have the power, among others, to grant provisional relief, including without limitation, entering temporary
restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such proceedings shall be closed to the public and confidential and all records relating thereto shall be permanently sealed. If during the course of any
action, a party hereto desires to seek provisional relief in the action or with respect to any Collateral located within the State of California, but a referee has not been appointed at that point pursuant to the judicial reference procedures, then
such party may apply to the appropriate state or federal court in the State of California for such relief. The proceeding before the referee shall be conducted in the same manner as it would be before a court under the rules of evidence applicable
to judicial proceedings. The parties shall be entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery applicable to judicial proceedings. The referee shall oversee discovery and
may enforce all discovery rules and orders applicable to judicial proceedings in the same manner as a trial court judge. The Borrower agrees that the selected or appointed referee shall have the power to decide all issues in the action or
proceeding, whether of fact of law, and shall report a statement of decision thereon pursuant to the California Code of Civil Procedure § 644(a). Nothing in this paragraph shall limit the right of the Administrative Agent or any Lender at
any time to exercise self-help remedies, foreclose against Collateral, or obtain provisional remedies. The referee shall also determine all issues relating to the applicability, interpretation and enforceability of this paragraph; and 

  
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 (d) waives, to the maximum extent not prohibited by law, any right it may have to claim or
recover in any legal action or proceeding referred to in this Section any special, exemplary, punitive or consequential damages. 

This Section 10.14 shall survive the Discharge of Obligations. 

10.15 Acknowledgements. The Borrower hereby acknowledges that: 

(a) it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents; 

(b) none of the Administrative Agent nor any Lender has any fiduciary relationship with or duty to the Borrower arising out of or in
connection with this Agreement or any of the other Loan Documents, and the relationship between the Administrative Agent and Lenders, on one hand, and the Borrower, on the other hand, in connection herewith or therewith is solely that of debtor and
creditor; and 
 (c) no joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions
contemplated hereby among the Lenders or among the Borrower and the Lenders. 
 10.16 Releases of Guarantees and Liens. 

(a) Notwithstanding anything to the contrary contained herein or in any other Loan Document, the Administrative Agent is hereby irrevocably
authorized by each Lender (without requirement of notice to or consent of any Lender except as expressly required by Section 10.1) to take any action requested by the Borrower having the effect of releasing any Collateral
or guarantee obligations (1) to the extent necessary to permit consummation of any transaction not prohibited by any Loan Document or that has been consented to in accordance with Section 10.1 or (2) under the
circumstances described in Section 10.16(b) below. 
 (b) At such time as the Loans and the other Obligations
under the Loan Documents (other than inchoate indemnity obligations, obligations under Cash Management Agreements not constituting liabilities for credit extended and obligations under or in respect of Specified Swap Agreements, to the extent no
default or termination event shall have occurred thereunder and to the extent such Cash Management Agreements or such Specified Swap Agreements are Cash Collateralized as set forth herein) shall have been paid in full, the Commitments shall have
been terminated and no Letters of Credit shall be outstanding (or such Letters of Credit shall have been Cash Collateralized as provide herein), the Collateral (other than any cash collateral securing any Specified Swap Agreements, any Cash
Management Services or outstanding Letters of Credit) shall be released from the Liens created by the Security Documents and Cash Management Agreements (other than any Cash Management Agreements used to cash collateralize any Obligations arising in
connection with Cash Management Agreements), and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent and each Loan Party under the Security Documents and Cash Management Agreements (other than
any Cash Management Agreements used to cash collateralize any Obligations arising in connection with Cash Management Agreements) shall terminate, all without delivery of any instrument or performance of any act by any Person. 

  
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 10.17 Treatment of Certain Information; Confidentiality. Each of the
Administrative Agent and each Lender agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its Related Parties (it being understood that the Persons
to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential); (b) to the extent required or requested by any regulatory authority purporting to have
jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners); (c) to the extent required by applicable laws or regulations or by any subpoena or
similar legal process; (d) to any other party hereto; (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the
enforcement of rights hereunder or thereunder; (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in,
any of its rights and obligations under this Agreement, or (ii) any actual or prospective party (or its Related Parties) to any swap, derivative or other transaction under which payments are to be made by reference to the Borrower and its
obligations, this Agreement or payments hereunder; (g) on a confidential basis to (i) any rating agency in connection with rating the Borrower or its Subsidiaries or the Facilities or (ii) the CUSIP Service Bureau or any similar
agency in connection with the issuance and monitoring of CUSIP numbers with respect to the Facilities; (h) with the consent of the Borrower; or (i) to the extent such Information (x) becomes publicly available other than as a result
of a breach of this Section, or (y) becomes available to the Administrative Agent, any Lender or any of their respective Affiliates on a non-confidential basis from a source other than the Borrower. In
addition, the Administrative Agent, the Lenders, and any of their respective Related Parties, may (A) disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service providers to the
lending industry and service providers to the Administrative Agent or the Lenders in connection with the administration of this Agreement, the other Loan Documents, and the Commitments; and (B) use any information (not constituting Information
subject to the foregoing confidentiality restrictions) related to the syndication and arrangement of the credit facilities contemplated by this Agreement in connection with marketing, press releases, or other transactional announcements or updates
provided to investor or trade publications, including the placement of “tombstone” advertisements in publications of its choice at its own expense. 

Notwithstanding anything herein to the contrary, any party to this Agreement (and any employee, representative, or other agent of any party to
this Agreement) may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the transactions contemplated by this Agreement and all materials of any kind (including opinions or other tax analyses) that
are provided to it relating to such tax treatment and tax structure. However, any such information relating to the tax treatment or tax structure is required to be kept confidential to the extent necessary to comply with any applicable federal or
state securities laws, rules, and regulations. 
 For purposes of this Section, “Information” means all information
received from the Borrower or any of its Subsidiaries relating to the Borrower or any of its Subsidiaries or any of their respective businesses, other than any such information that is available to the Administrative Agent or any Lender on a non-confidential basis prior to disclosure by the Borrower or any of its Subsidiaries. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have
complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

10.18 Automatic Debits. With respect to any principal, interest, fee, or any other cost or expense (including attorney costs of
the Administrative Agent or any Lender payable by the Borrower hereunder) due and payable to the Administrative Agent or any Lender under the Loan Documents, the Borrower hereby irrevocably authorizes the Administrative Agent to debit any deposit
account of the Borrower maintained with the Administrative Agent in an amount such that the aggregate amount debited from all 

  
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such deposit accounts does not exceed such principal, interest, fee or other cost or expense. If there are insufficient funds in such deposit accounts to cover the amount then due, such debits
will be reversed (in whole or in part, in the Administrative Agent’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 10.18 shall be deemed a set-off. 
 10.19 Judgment Currency. If, for the purposes of obtaining judgment in any
court, it is necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could
purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of each Borrower and each other Loan Party in respect of any such sum due from it to the Administrative Agent or
any Lender hereunder or under any other Loan Document shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions
of this Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent or such Lender, as the case may be, of any sum adjudged to be so due in the
Judgment Currency, the Administrative Agent or such Lender, as the case may be, may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less
than the sum originally due to the Administrative Agent or any Lender from any Borrower or any other Loan Party in the Agreement Currency, such Borrower and each other Loan Party agrees, as a separate obligation and notwithstanding any such
judgment, to indemnify the Administrative Agent or such Lender, as the case may be, against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent or any Lender in such
currency, the Administrative Agent or such Lender, as the case may be, agrees to return the amount of any excess to such Borrower or other Loan Party, as applicable (or to any other Person who may be entitled thereto under applicable law). 

10.20 Patriot Act. Each Lender and the Administrative Agent (for itself and not on behalf of any other party) hereby notifies
the Borrower and each other Loan Party that, pursuant to the requirements of “know your customer” and anti-money-laundering rules and regulations, including the Patriot Act, it is required to obtain, verify and record information that
identifies the Borrower and each other Loan Party, which information includes the names and addresses and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower and each other Loan Party in
accordance with such rules and regulations. The Borrower and each other Loan Party will, and will cause each of its Subsidiaries to, provide such information and take such actions as are reasonably requested by the Administrative Agent or any Lender
to assist the Administrative Agent or any such Lender in maintaining compliance with such applicable rules and regulations. 
 10.21
Acknowledgement and Consent to Bail-In of Affected Financial Institutions. Notwithstanding anything to the contrary in this Agreement or in any other Loan Document or in any other agreement, arrangement
or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institutions arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and
conversion powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 
 (a) the
application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; 

(b) the effects of any Bail-in Action on any such liability, including, if applicable: 

(i) a reduction in full or in part or cancellation of any such liability; 

  
 119 

 (ii) a conversion of all, or a portion of, such liability into Capital Stock in such
Affected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such Capital Stock will be accepted by it in lieu of any rights with respect to any such liability under
this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability in connection with the exercise of the
write-down and conversion powers of the applicable Resolution Authority. 
 10.22 Acknowledgement Regarding Any Supported
QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Swap Agreements or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and each such QFC a
“Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall
Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below
applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States): 

(a) In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a
proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property
securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and
any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S.
Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than
such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. 

(b) As used in this Section 10.22, the following terms have the following meanings: 

“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in
accordance with, 12 U.S.C. 1841(k)) of such party. 
 “Covered Entity” means any of the following: 

(i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b) 

(ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or 

(iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). 

“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R.
§§ 252.81, 47.2 or 382.1, as applicable. 

  
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 “QFC” has the meaning assigned to the term “qualified financial
contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 
 [Remainder of page left blank
intentionally] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed
and delivered by their proper and duly authorized officers as of the day and year first above written. 
  

			
	BORROWER:
	
	UIPATH, INC.
		
	By:	 	/s/ Philip Kean 
		
	Name:	 	Philip Kean
		
	Title:	 	Treasurer

 
			
	 ADMINISTRATIVE AGENT:

	
	 SILICON VALLEY BANK,
 as the
Administrative Agent

		
	By:	 	/s/ Michael Shuhy 
		
	Name:	 	Michael Shuhy 
		
	Title:	 	Managing Director 

 
			
	 LENDERS:

	
	 SILICON VALLEY BANK,
 as
Issuing Lender, Swingline Lender and as a Lender

		
	By:	 	/s/ Michael Shuhy 
		
	Name:	 	Michael Shuhy 
		
	Title:	 	Managing Director 

 
			
	 HSBC VENTURES USA INC.,
 as a
Lender

		
	By:	 	/s/ Prasant Chunduru
		
	Name:	 	Prasant Chunduru
		
	Title:	 	SVP, Head of Venture Debt

  

			
	 SUMITOMO MITSUI BANKING CORPORATION,

as a Lender

		
	By:	 	/s/ Michael Maguire
		
	Name:	 	Michael Maguire
		
	Title:	 	Managing Director

  

			
	 MIZUHO BANK, LTD.,
 as a
Lender

		
	By:	 	/s/ Tracy Rahn
		
	Name:	 	Tracy Rahn
		
	Title:	 	Executive Director

 SCHEDULE 1.1A 

COMMITMENTS 
 AND
AGGREGATE EXPOSURE PERCENTAGES 
  

									
	REVOLVING COMMITMENTS	 
			
	 Lender
	  	Revolving Commitment	 	  	Revolving Percentage	 
	 Silicon Valley Bank
	  	$	50,000,000	 	  	 	25.0000000	% 
	 HSBC Ventures USA Inc.
	  	$	50,000,000	 	  	 	25.0000000	% 
	 Sumitomo Mitsui Banking Corporation
	  	$	50,000,000	 	  	 	25.0000000	% 
	 Mizuho Bank, Ltd.
	  	$	50,000,000	 	  	 	25.0000000	% 
	 Total
	  	$	200,000,000	 	  	 	100.0000000	% 
	
	L/C COMMITMENT	 
			
	 Lender
	  	L/C Commitment	 	  	L/C Percentage	 
	 Silicon Valley Bank
	  	$	7,500,000	 	  	 	25.0000000	% 
	 HSBC Ventures USA Inc.
	  	$	7,500,000	 	  	 	25.0000000	% 
	 Sumitomo Mitsui Banking Corporation
	  	$	7,500,000	 	  	 	25.0000000	% 
	 Mizuho Bank, Ltd.
	  	$	7,500,000	 	  	 	25.0000000	% 
	 Total
	  	$	30,000,000	 	  	 	100.0000000	% 
	
	SWINGLINE COMMITMENT	 
			
	 Lender
	  	Swingline Commitment	 	  	Exposure Percentage	 
	 Silicon Valley Bank
	  	$	15,000,000	 	  	 	100.000000000	% 
	 Total
	  	$	15,000,000	 	  	 	100.000000000	% 

 SCHEDULE 1.1B 

EXISTING LETTERS OF CREDIT 
  

																							
	 SDC Ref No
	  	 Applicant
	  	 Beneficiary
	  	 Final Beneficiary
	  	Issuance
Date	 	  	Expiry
Date	 	  	CCY	 	  	Amount	 
	SDCMTN576820	  	UIPATH SRL	  	MICROSOFT IRELAND OPERATIONS	  	MICROSOFT IRELAND OPERATIONS	  	 	15-Apr-20	 	  	 	14-Apr-21	 	  	 	EUR	 	  	$	 250,000	 
	SDCMTN523470	  	UIPATH INC.	  	SOUTHERN CALIFORNIA EDISON	  	SOUTHERN CALIFORNIA EDISON	  	 	6-Jan-20	 	  	 	26-Dec-20	 	  	 	USD	 	  	$	 36,448	 
	SDCMTN576895	  	UIPATH INC.	  	NINETY PARK PROPERTY LLC	  	NINETY PARK PROPERTY LLC	  	 	28-Apr-20	 	  	 	28-Feb-21	 	  	 	USD	 	  	$	 955,980	 
	SDCMTN576988	  	UIPATH INC.	  	GTT COMMUNICATIONS, INC.	  	GTT COMMUNICATIONS, INC.	  	 	11-May-20	 	  	 	1-Feb-21	 	  	 	USD	 	  	$
 	 
1,172,561	 
 
	SDCMTN577139	  	UIPATH SRL, 4 VASILE ALECSANDRI	  	HSBC BANK PLC	  	United Nations Office at Geneva	  	 	1-Jun-20	 	  	 	29-Aug-25	 	  	 	USD	 	  	$	 5,755	 
	SDCMTN577148	  	UIPATH SRL	  	MICROSOFT IRELAND OPERATIONS	  	MICROSOFT IRELAND OPERATIONS	  	 	29-May-20	 	  	 	27-May-21	 	  	 	USD	 	  	$	 300,000	 
		  		  		  		  				  				  	  
	  
	 	  	  
	  
	 
	 Total
	  		  		  		  				  				  	 	TOTAL	 	  	$	2,720,744	 
		  		  		  		  				  				  	  
	  
	 	  	  
	  
	 

 SCHEDULE 4.4 

GOVERNMENTAL APPROVALS, CONSENTS, 

AUTHORIZATIONS, FILINGS AND NOTICES 

None. 

 SCHEDULE 4.5 

REQUIREMENTS OF LAW 

None. 

 SCHEDULE 4.15 

SUBSIDIARIES 
  

							
	 Country
	  	 Current Legal Entities Owned
	  	 No. Shares/ Interest
	  	 Shareholder(s)

	Australia	  	UiPath Australia Pty Ltd.	  	3925 shares	  	UiPath SRL
	Austria	  	UiPath Austria GmbH	  	Share capital: EUR 35,000	  	UiPath Netherlands Holding BV
	Belgium	  	UiPath Belgium	  	2,500 shares	  	 •  UiPath SRL (99.96%)

•  UiPath Netherlands B.V. (0.04%)

	Brazil	  	UiPath Brasil Consultoria Limitada	  	83,200 shares	  	 •  UiPath SRL (99.999%)

•  UiPath Inc (0.001%)

	Canada	  	UiPath Canada Operations Ltd.	  	2,500 shares	  	UiPath Inc.
	China	  	English: Shanghai Zhicheng Technology Co., Ltd.; Chinese: 上海智程科技有限公司	  	Total investment amount: 210,000 USD; Registered capital: 150,000 USD	  	UiPath SRL
	Denmark	  	UiPath Denmark ApS	  	150,000 shares	  	UiPath Netherlands Holding B.V
	France	  	UiPath France SAS	  	250 shares	  	UiPath SRL
	Germany	  	UiPath GmbH	  	25,000 shares	  	UiPath SRL
	Israel	  	UiPath Israel LTD	  	100,611 shares	  	UiPath Netherlands Holding B.V
	India	  	UiPath Robotic Proceess Automation India Private Limited	  	200,000 shares	  	 •  UiPath SRL (99.775%)

•  Raghunath (Raghu) G Subramanian (0.225%)

	India	  	UiPath Business Solutions India Private Limited	  	1,000,000 shares	  	 •  UiPath SRL (99.775%)

•  Raghunath (Raghu) G Subramanian (0.225%)

	Hong Kong	  	UiPath Limited 智程(香港)有限公司	  	25,000 shares	  	UiPath SRL
	Japan	  	UiPath Kabushiki Kaisha	  	17,000 shares	  	UiPath Inc
	South Korea	  	UiPath Korea Ltd.	  	25,000 shares	  	UiPath SRL
	Mexico	  	UiPath Mexico S. DE R.L. DE C.V.	  	2 shares	  	 •  UiPath SRL (0.01%)

•  UiPath Inc. (99.99%)

	Norway	  	UiPath Norway AS	  	2,500 shares	  	UiPath Netherlands Holding B.V.
	Netherlands	  	UiPath Netherlands Holding BV	  	2,500 shares	  	UiPath Inc
	Netherlands	  	UiPath Netherlands BV	  	250,000 shares	  	 •  UiPath –Netherlands Holding BV - 100%

	Romania	  	UiPath SRL	  	3,925 shares	  	 •  UiPath Netherlands Holding BV – 100%.

	Russia	  	UiPath OOO (Ð®ÐÐ~ÐŸÐ­Ð¤)	  	100 shares	  	 •  UiPath Netherlands B.V. (99%)

•  UiPath SRL (1%)

	Singapore	  	UiPath PTE LTD	  	1,000 shares	  	UiPath SRL
	Sweden	  	UiPath AB	  	235,885 shares	  	UiPath SRL
	Switzerland	  	UiPath Switzerland GmbH	  	281 shares	  	UiPath Netherlands Holding B.V.
	Ukraine	  	UiPath Ukraine LLC	  	Share capital : EUR 25,000	  	UiPath Netherlands Holding BV
	United Kingdom	  	UiPath UK Ltd.	  	10,000	  	UiPath Netherlands Holding BV
	Netherlands	  	ProcessGold International BV	  	555,687 ordinary shares	  	UiPath Netherlands Holding BV
	Netherlands	  	ProcessGold BV	  	10,000 shares	  	ProcessGold International BV
	Netherlands	  	ProcessGoldAG	  	10,000 shares	  	ProcessGold International BV
	Netherlands	  	MagnaView BV	  	291 shares	  	ProcessGold International BV

 SCHEDULE 4.19(a) 

FINANCING STATEMENTS AND OTHER FILINGS 

1. UCC-1 Financing Statement to be filed against the Borrower with the Delaware Secretary of State.

 SCHEDULE 7.2(d) 

EXISTING INDEBTEDNESS 
  

 
 Credit Facilities & SBLC Information 

26/out/20 
  

																					
	 Entity
name
	  	 Bank/Branch
	  	 BG//

Contract No
	  	 Issuance Date
	  	Amount	 	  	Currency	  	 Type/Purpose
	  	Expiry
Date	 	  	 Beneficiary

	Uipath SRL	  	Citibank Europe Plc, Dublin - Suc. Romania	  	5168600592	  	25/jun/20	  	 	629,835.47	 	  	EUR	  	SBLC for lease agreement	  	 	21/jun/21	 	  	ALECSANDRI ESTATES SRL
		  		  		  		  	  
	  
	 	  		  		  				  	
		  		  		  	Total	  	 	629,835.47	 	  		  		  				  	
		  		  		  		  	  
	  
	 	  		  		  				  	

 SCHEDULE 7.3(f) 

EXISTING LIENS 
 None.

 SCHEDULE 7.8(n) 

EXISTING INVESTMENTS 

None.EX-10.20

 Exhibit 10.20 

LEASE 
 between 

NINETY PARK PROPERTY LLC, 

Landlord, 
 and 

UIPATH, INC., 
 Tenant. 

90 Park Avenue 
 New York, New York
10016 
 as of March 30th, 2018 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 Article 1    
	  	 DEMISE, TERM, FIXED RENT
	  	 	1	 
	 1.1.
	  	Demise.	  	 	1	 
	 1.2.
	  	Commencement Date.	  	 	1	 
	 1.3.
	  	Rent Commencement Date.	  	 	2	 
	 1.4.
	  	Fixed Rent.	  	 	2	 
	 1.5.
	  	Payments of Fixed Rent.	  	 	2	 
	 1.6.
	  	Certain Definitions.	  	 	3	 
			
	 Article 2    
	  	 ESCALATION RENT
	  	 	5	 
	 2.1.
	  	Operating Expense Definitions.	  	 	5	 
	 2.2.
	  	Calculation of Operating Expenses.	  	 	9	 
	 2.3.
	  	Operating Expense Payment.	  	 	12	 
	 2.4.
	  	Auditing of Operating Expense Statements.	  	 	14	 
	 2.5.
	  	Tax Definitions.	  	 	16	 
	 2.6.
	  	Tax Payment.	  	 	17	 
	 2.7.
	  	Tax Reduction Proceedings.	  	 	19	 
	 2.8.
	  	Building Additions.	  	 	21	 
			
	 Article 3    
	  	 USE
	  	 	21	 
	 3.1.
	  	Permitted Use.	  	 	21	 
	 3.2.
	  	Limitations.	  	 	22	 
	 3.3.
	  	Rules.	  	 	23	 
	 3.4.
	  	Promotional Displays.	  	 	23	 
	 3.5.
	  	Wireless Internet Service.	  	 	23	 
	 3.6.
	  	Telecommunications.	  	 	24	 
	 3.7.
	  	Risers.	  	 	24	 
			
	 Article 4    
	  	 SERVICES
	  	 	25	 
	 4.1.
	  	Certain Definitions.	  	 	25	 
	 4.2.
	  	Elevator Service.	  	 	25	 
	 4.3.
	  	Heat, Ventilation and Air-Conditioning.	  	 	26	 
	 4.4.
	  	Cleaning.	  	 	26	 
	 4.5.
	  	Water.	  	 	27	 
	 4.6.
	  	Directory.	  	 	28	 
	 4.7.
	  	Condenser Water.	  	 	28	 
	 4.8.
	  	No Other Services.	  	 	29	 
	 4.9.
	  	Labor Harmony.	  	 	29	 
	 4.10.
	  	Building Security.	  	 	29	 
			
	 Article 5    
	  	 ELECTRICITY
	  	 	29	 
	 5.1.
	  	Capacity.	  	 	29	 
	 5.2.
	  	Electricity for the Building.	  	 	30	 
	 5.3.
	  	Submetering.	  	 	30	 
	 5.4.
	  	Termination of Electric Service.	  	 	32	 

  
 -ii- 

							
			
	 Article 6     
	  	 INITIAL CONDITION OF THE PREMISES
	  	 	33	 
	 6.1.
	  	Condition of Premises.	  	 	33	 
	 6.2.
	  	Landlord’s Work.	  	 	33	 
	 6.3.
	  	Early Access.	  	 	34	 
			
	 Article 7    
	  	 ALTERATIONS
	  	 	34	 
	 7.1.
	  	General.	  	 	34	 
	 7.2.
	  	Basic Alterations and Minor Alterations.	  	 	35	 
	 7.3.
	  	Approval Process.	  	 	36	 
	 7.4.
	  	Performance of Alterations.	  	 	37	 
	 7.5.
	  	Financial Integrity.	  	 	39	 
	 7.6.
	  	Effect on Building.	  	 	40	 
	 7.7.
	  	Time for Performance of Alterations.	  	 	40	 
	 7.8.
	  	Removal of Alterations and Tenant’s Property.	  	 	41	 
	 7.9.
	  	Contractors and Supervision.	  	 	41	 
	 7.10.
	  	Pantry.	  	 	42	 
	 7.11.
	  	Window Coverings.	  	 	42	 
	 7.12.
	  	Air-Cooled HVAC Installations.	  	 	42	 
	 7.13.
	  	Tenant’s Furniture.	  	 	42	 
			
	 Article 8    
	  	 REPAIRS
	  	 	42	 
	 8.1.
	  	Landlord’s Repairs.	  	 	42	 
	 8.2.
	  	Tenant’s Repairs.	  	 	43	 
	 8.3.
	  	Certain Limitations.	  	 	44	 
	 8.4.
	  	Overtime.	  	 	44	 
			
	 Article 9    
	  	 ACCESS; LANDLORD’S CHANGES
	  	 	45	 
	 9.1.
	  	Access.	  	 	45	 
	 9.2.
	  	Landlord’s Obligation to Minimize Interference.	  	 	45	 
	 9.3.
	  	Reserved Areas.	  	 	46	 
	 9.4.
	  	Ducts, Pipes and Conduits.	  	 	46	 
	 9.5.
	  	Keys.	  	 	47	 
	 9.6.
	  	Landlord’s Changes.	  	 	47	 
			
	 Article 10    
	  	 UNAVOIDABLE DELAYS AND INTERRUPTION OF SERVICE
	  	 	48	 
	 10.1.
	  	Unavoidable Delays.	  	 	48	 
	 10.2.
	  	Interruption of Services.	  	 	48	 
			
	 Article 11    
	  	 REQUIREMENTS
	  	 	49	 
	 11.1.
	  	Tenant’s Obligation to Comply with Requirements.	  	 	49	 
	 11.2.
	  	Landlord’s Obligation to Comply with Requirements.	  	 	50	 
	 11.3.
	  	Certificate of Occupancy.	  	 	50	 
			
	 Article 12    
	  	 QUIET ENJOYMENT
	  	 	51	 
	 12.1.
	  	Quiet Enjoyment.	  	 	51	 
			
	 Article 13    
	  	 SUBORDINATION
	  	 	51	 
	 13.1.
	  	Subordination.	  	 	51	 
	 13.2.
	  	Attornment.	  	 	51	 

  
 -iii- 

							
	 13.3.
	  	Amendments to this Lease.	  	 	53	 
	 13.4.
	  	Tenant’s Estoppel Certificate.	  	 	54	 
	 13.5.
	  	Rights to Cure Landlord’s Default.	  	 	54	 
	 13.6.
	  	Zoning Lot Merger Agreement.	  	 	54	 
	 13.7.
	  	Tenant’s Financial Statements.	  	 	55	 
			
	 Article 14    
	  	 INSURANCE
	  	 	56	 
	 14.1.
	  	Tenant’s Insurance.	  	 	56	 
	 14.2.
	  	Landlord’s Insurance.	  	 	57	 
	 14.3.
	  	Mutual Waiver of Subrogation.	  	 	58	 
	 14.4.
	  	Evidence of Insurance.	  	 	59	 
	 14.5.
	  	No Concurrent Insurance.	  	 	59	 
	 14.6.
	  	Tenant’s Obligation to Comply with Landlord’s Fire and Casualty Insurance.	  	 	59	 
			
	 Article 15    
	  	 CASUALTY
	  	 	59	 
	 15.1.
	  	Notice.	  	 	59	 
	 15.2.
	  	Landlord’s Restoration Obligations.	  	 	59	 
	 15.3.
	  	Rent Abatement.	  	 	60	 
	 15.4.
	  	Landlord’s Termination Right.	  	 	61	 
	 15.5.
	  	Tenant’s Termination Right.	  	 	61	 
	 15.6.
	  	Termination Rights at End of Term.	  	 	62	 
	 15.7.
	  	No Other Termination Rights.	  	 	62	 
			
	 Article 16    
	  	 CONDEMNATION
	  	 	63	 
	 16.1.
	  	Effect of Condemnation.	  	 	63	 
	 16.2.
	  	Condemnation Award.	  	 	64	 
	 16.3.
	  	Temporary Taking.	  	 	64	 
			
	 Article 17    
	  	 ASSIGNMENT AND SUBLETTING
	  	 	65	 
	 17.1.
	  	General Limitations.	  	 	65	 
	 17.2.
	  	Landlord’s Expenses.	  	 	66	 
	 17.3.
	  	Recapture Procedure.	  	 	66	 
	 17.4.
	  	Certain Transfer Rights.	  	 	71	 
	 17.5.
	  	Preliminary Approval.	  	 	74	 
	 17.6.
	  	Transfer Taxes.	  	 	74	 
	 17.7.
	  	Transfer Profit.	  	 	74	 
	 17.8.
	  	Permitted Transfers.	  	 	76	 
	 17.9.
	  	Existing PriceWaterhouseCoopers Restrictions.	  	 	78	 
	 17.10.
	  	Special Occupant.	  	 	79	 
			
	 Article 18    
	  	 TENANT’S RIGHT OF FIRST OFFER TO LEASE
	  	 	79	 
	 18.1.
	  	Right of First Offer.	  	 	79	 
	 18.2.
	  	Option Notice.	  	 	80	 
	 18.3.
	  	Option Procedure.	  	 	80	 
	 18.4.
	  	Certain Limitations.	  	 	80	 
	 18.5.
	  	Lease Provisions Apply.	  	 	82	 
	 18.6.
	  	Delivery.	  	 	82	 

  
 -iv- 

							
			
	 Article 19    
	  	 FAIR MARKET RENT
	  	 	83	 
	 19.1.
	  	Certain Definitions.	  	 	83	 
	 19.2.
	  	Fair Market Rent Assumptions.	  	 	83	 
	 19.3.
	  	Fair Market Procedure.	  	 	83	 
			
	 Article 20    
	  	 DEFAULT
	  	 	85	 
	 20.1.
	  	Events of Default.	  	 	85	 
	 20.2.
	  	Termination.	  	 	86	 
			
	 Article 21    
	  	 TENANT’S INSOLVENCY
	  	 	86	 
	 21.1.
	  	Assignments pursuant to the Bankruptcy Code.	  	 	86	 
	 21.2.
	  	Replacement Lease.	  	 	88	 
	 21.3.
	  	Insolvency Events.	  	 	88	 
	 21.4.
	  	Effect of Stay.	  	 	89	 
	 21.5.
	  	Rental for Bankruptcy Purposes.	  	 	90	 
			
	 Article 22    
	  	 REMEDIES AND DAMAGES
	  	 	90	 
	 22.1.
	  	Certain Remedies.	  	 	90	 
	 22.2.
	  	No Redemption.	  	 	91	 
	 22.3.
	  	Calculation of Damages.	  	 	91	 
			
	 Article 23    
	  	 EXPENSES AND LATE CHARGES
	  	 	92	 
	 23.1.
	  	Landlord’s Costs.	  	 	92	 
	 23.2.
	  	Tenant’s Costs.	  	 	93	 
	 23.3.
	  	Interest on Late Payments.	  	 	94	 
			
	 Article 24    
	  	 SECURITY
	  	 	94	 
	 24.1.
	  	Security Deposit.	  	 	94	 
	 24.2.
	  	Landlord’s Rights.	  	 	95	 
	 24.3.
	  	Return of Security.	  	 	95	 
	 24.4.
	  	Transfer of Letter of Credit.	  	 	95	 
	 24.5.
	  	Renewal of Letter of Credit.	  	 	96	 
			
	 Article 25    
	  	 END OF TERM
	  	 	96	 
	 25.1.
	  	End of Term.	  	 	96	 
	 25.2.
	  	Holdover.	  	 	96	 
			
	 Article 26    
	  	 NO WAIVER
	  	 	97	 
	 26.1.
	  	No Surrender.	  	 	97	 
	 26.2.
	  	No Waiver by Landlord.	  	 	97	 
	 26.3.
	  	No Waiver by Tenant.	  	 	98	 
			
	 Article 27    
	  	 JURISDICTION
	  	 	98	 
	 27.1.
	  	Governing Law.	  	 	98	 
	 27.2.
	  	Submission to Jurisdiction.	  	 	98	 
	 27.3.
	  	Waiver of Trial by Jury; Counterclaims.	  	 	98	 

  
 -v- 

							
			
	 Article 28    
	  	 NOTICES
	  	 	99	 
	 28.1.
	  	Addresses; Manner of Delivery.	  	 	99	 
			
	 Article 29    
	  	 BROKERAGE
	  	 	100	 
	 29.1.
	  	Broker.	  	 	100	 
			
	 Article 30    
	  	 INDEMNITY
	  	 	100	 
	 30.1.
	  	Tenant’s Indemnification of the Landlord Indemnitees.	  	 	100	 
	 30.2.
	  	Landlord’s Indemnification of the Tenant Indemnitees.	  	 	101	 
	 30.3.
	  	Indemnification Procedure.	  	 	102	 
			
	 Article 31    
	  	 LANDLORD’S CONSENTS; ARBITRATION
	  	 	103	 
	 31.1.
	  	Certain Limitations.	  	 	103	 
	 31.2.
	  	Expedited Arbitration.	  	 	104	 
			
	 Article 32    
	  	 ADDITIONAL PROVISIONS
	  	 	105	 
	 32.1.
	  	Tenant’s Property Delivered to Building Employees.	  	 	105	 
	 32.2.
	  	Not Binding Until Execution.	  	 	105	 
	 32.3.
	  	No Third Party Beneficiaries.	  	 	105	 
	 32.4.
	  	Extent of Landlord’s Liability.	  	 	105	 
	 32.5.
	  	Extent of Tenant’s Liability.	  	 	106	 
	 32.6.
	  	Survival.	  	 	106	 
	 32.7.
	  	Recording.	  	 	106	 
	 32.8.
	  	Entire Agreement.	  	 	106	 
	 32.9.
	  	Counterparts.	  	 	106	 
	 32.10.
	  	Exhibits.	  	 	106	 
	 32.11.
	  	Gender., Plural.	  	 	106	 
	 32.12.
	  	Divisibility.	  	 	106	 
	 32.13.
	  	Vault Space.	  	 	107	 
	 32.14.
	  	Adjacent Excavation.	  	 	107	 
	 32.15.
	  	Captions.	  	 	107	 
	 32.16.
	  	Parties Bound.	  	 	107	 
	 32.17.
	  	Authority.	  	 	107	 
	 32.18.
	  	Rent Control.	  	 	108	 
	 32.19.
	  	Consequential Damages.	  	 	108	 
	 32.20.
	  	Tenant’s Advertising.	  	 	109	 
	 32.21.
	  	Specially Designated Nationals; Blocked Persons; Embargoed Persons.	  	 	109	 

  
 -vi- 

 DEFINED TERMS 
  

					
	 Term
	  	Page	 
	 Affiliate
	  	 	3	 
	 Alterations
	  	 	35	 
	 Alterations Notice
	  	 	36	 
	 Amortized Transfer Expenses
	  	 	67	 
	 Applicable Area
	  	 	83	 
	 Applicable Date
	  	 	83	 
	 Applicable Option Space
	  	 	80	 
	 Applicable Rate
	  	 	3	 
	 Appraiser
	  	 	84	 
	 Assessed Valuation
	  	 	16	 
	 Average Cost per Kilowatt Hour
	  	 	11	 
	 Average Cost per Peak Demand Kilowatt
	  	 	11	 
	 Bank Requirements
	  	 	94	 
	 Bankruptcy Code
	  	 	86	 
	 Base Electrical Capacity
	  	 	30	 
	 Base Operating Expense Year
	  	 	5	 
	 Base Operating Expenses
	  	 	5	 
	 Base Rate
	  	 	3	 
	 Base Tax Year
	  	 	16	 
	 Base Taxes
	  	 	16	 
	 Basic Alteration
	  	 	36	 
	 Basic Sublease Provisions
	  	 	74	 
	 Broker
	  	 	100	 
	 Building
	  	 	1	 
	 Building Change
	  	 	40	 
	 Building Hours
	  	 	25	 
	 Building Systems
	  	 	25	 
	 Business Days
	  	 	3	 
	 Casualty Statement
	  	 	61	 
	 Claim
	  	 	102	 
	 Claim Against Landlord
	  	 	100	 
	 Claim Against Tenant
	  	 	101	 
	 Commencement Date
	  	 	1	 
	 Consumer Price Index
	  	 	3	 
	 Contractor’s Liability Policy
	  	 	38	 
	 Control
	  	 	3	 
	 Decorative Alterations
	  	 	35	 
	 Deficiency
	  	 	91	 
	 Early Access Period
	  	 	34	 
	 Electricity Additional Rent
	  	 	30	 
	 Electricity Inclusion Charge
	  	 	32	 
	 Embargoed Person
	  	 	109	 

  
 -vii- 

					
	 Escalation Rent
	  	 	3	 
	 Event of Default
	  	 	85	 
	 Excluded Amounts
	  	 	16	 
	 Expedited Arbitration Proceeding
	  	 	104	 
	 Expiration Date
	  	 	1	 
	 Fair Market Rent
	  	 	83	 
	 Fixed Expiration Date
	  	 	1	 
	 Fixed Rent
	  	 	2	 
	 GAAP
	  	 	4	 
	 Governmental Authority
	  	 	49	 
	 Holidays
	  	 	4	 
	 HVAC
	  	 	25	 
	 HVAC Systems
	  	 	25	 
	 Indemnitee
	  	 	102	 
	 Indemnitor
	  	 	102	 
	 Initial Alterations
	  	 	35	 
	 Initial Tenant Requirement
	  	 	4	 
	 Insolvency Events
	  	 	89	 
	 Insolvency Party
	  	 	86	 
	 ISO
	  	 	56	 
	 Landlord
	  	 	1	 
	 Landlord Indemnitees
	  	 	101	 
	 Landlord’s Work
	  	 	33	 
	 Landlord’s Determination
	  	 	83	 
	 Landlord’s Property Policy
	  	 	57	 
	 Lessor
	  	 	51	 
	 Letter of Credit
	  	 	94	 
	 List
	  	 	109	 
	 Minimum Demise Requirement
	  	 	4	 
	 Minimum Occupancy Requirement
	  	 	4	 
	 Minor Alteration
	  	 	36	 
	 Minor Alterations Threshold
	  	 	36	 
	 Monthly Operating Expense Payment Amount
	  	 	12	 
	 Monthly Tax Payment Amount
	  	 	17	 
	 Mortgage
	  	 	51	 
	 Mortgagee
	  	 	51	 
	 Net Worth Assignment Requirement
	  	 	76	 
	 Occupancy Agreement
	  	 	65	 
	 OFAC
	  	 	109	 
	 Operating Expense Commencement Date
	  	 	12	 
	 Operating Expense Payment
	  	 	8	 
	 Operating Expense Statement
	  	 	8	 
	 Operating Expense Year
	  	 	9	 
	 Operating Expenses
	  	 	5	 
	 Option
	  	 	80	 

  
 -viii- 

					
	 Option Cutoff Date
	  	 	81	 
	 Option Notice
	  	 	80	 
	 Option Response Notice
	  	 	80	 
	 Option Space
	  	 	80	 
	 Option Space Commencement Date
	  	 	82	 
	 Option Term
	  	 	80	 
	 Out-of-Pocket
Costs
	  	 	4	 
	 Overtime Periods
	  	 	25	 
	 Permitted Party
	  	 	65	 
	 Person
	  	 	4	 
	 Predecessor Tenant
	  	 	88	 
	 Premises
	  	 	1	 
	 Property Management Charge
	  	 	5	 
	 Proposed Transfer Terms
	  	 	67	 
	 Prospective Operating Expense Statement
	  	 	12	 
	 Prospective Tax Statement
	  	 	17	 
	 PWC
	  	 	78	 
	 PWC Lease
	  	 	78	 
	 PWC Restrictions Clause
	  	 	78	 
	 Real Property
	  	 	1	 
	 Recapture Date
	  	 	67	 
	 Recapture Procedure
	  	 	66	 
	 Recapture Space
	  	 	67	 
	 Recapture Sublease
	  	 	68	 
	 Recapture Sublease Notice
	  	 	68	 
	 Recapture Subtenant
	  	 	68	 
	 Recapture Termination
	  	 	69	 
	 Recapture Termination Notice
	  	 	69	 
	 Rent Commencement Date
	  	 	2	 
	 Rent Notice
	  	 	83	 
	 Rentable Area
	  	 	4	 
	 Rental
	  	 	2	 
	 Requested Condenser Water Capacity
	  	 	28	 
	 Requirements
	  	 	49	 
	 Reserved Areas
	  	 	46	 
	 Risers
	  	 	24	 
	 RPAPL
	  	 	86	 
	 Rules
	  	 	23	 
	 Scheduled Option Space Commencement Date
	  	 	80	 
	 Second Bite Date
	  	 	62	 
	 Settlement
	  	 	103	 
	 Short Term Sublease
	  	 	68	 
	 Special Occupant
	  	 	79	 
	 Specialty Alterations
	  	 	35	 
	 Substantial Completion
	  	 	35	 

  
 -ix- 

					
	 Successor
	  	 	51	 
	 Superior Lease
	  	 	51	 
	 Tax Payment
	  	 	17	 
	 Tax Payment Commencement Date
	  	 	17	 
	 Tax Statement
	  	 	17	 
	 Tax Year
	  	 	17	 
	 Taxes
	  	 	16	 
	 Tenant
	  	 	1	 
	 Tenant Indemnitees
	  	 	101	 
	 Tenant Obligor
	  	 	89	 
	 Tenant’s Auto Policy
	  	 	56	 
	 Tenant’s Determination
	  	 	83	 
	 Tenant’s Liability Policy
	  	 	56	 
	 Tenant’s Operating Expense Share
	  	 	9	 
	 Tenant’s Property
	  	 	35	 
	 Tenant’s Property Policy
	  	 	56	 
	 Tenant’s Statements
	  	 	55	 
	 Tenant’s Tax Share
	  	 	17	 
	 Tenant’s Worker’s Compensation Policy
	  	 	56	 
	 Term
	  	 	1	 
	 Term Sheet
	  	 	74	 
	 Transfer
	  	 	65	 
	 Transfer Date
	  	 	67	 
	 Transfer Expenses
	  	 	67	 
	 Transfer Inflow
	  	 	75	 
	 Transfer Notice
	  	 	66	 
	 Transfer Outflow
	  	 	75	 
	 Transfer Profit
	  	 	75	 
	 Transferee
	  	 	67	 
	 Transferor
	  	 	67	 
	 Usable Area
	  	 	5	 
	 Utility Company
	  	 	11	 
	 Work Access
	  	 	45	 
	 Work Deposit
	  	 	39	 

  
 -x- 

 EXHIBITS 

Exhibit “A” - Premises 

Exhibit “3.3” - Rules 

Exhibit “4.4” - Cleaning Specifications 

Exhibit “17.9(C)” - PWC Restrictions Clause 

Exhibit “17.9(D)” - Current PWC Competitors 

Exhibit “18.1” - Option Space 

  
 -xi- 

 THIS LEASE, dated as of the 30th day
of March, 2018, by and between NINETY PARK PROPERTY LLC, a New York limited liability company, having an address do Vornado Realty Trust, 888 Seventh Avenue, New York, New York 10019, as landlord, and UIPATH, INC., a Delaware corporation, having an
address at 311 West 43rd Street, New York, New York 10036, as tenant (the Person that holds the interest of the landlord hereunder at any particular time being referred to herein as “Landlord”; subject to Section 17.1(F)
hereof, the Person that holds the interest of the tenant hereunder at any particular time being referred to herein as “Tenant”). 

WITNESSETH: 
 WHEREAS, Landlord
wishes to demise and let unto Tenant, and Tenant wishes to hire and take from Landlord, on the terms and subject to the conditions set forth herein, the premises on the twentieth (20th) floor of the building that is known by the street address of 90
Park Avenue, New York, New York 10016, as shown on Exhibit “A” attached hereto and made a part hereof (such premises being referred to herein as the “Premises”; such building being referred to herein
as the “Building”; the Building, together with the plot of land on which the Building is constructed, being collectively referred to herein as the “Real Property”). 

NOW, THEREFORE, in consideration of the premises, and other good and valuable consideration, the mutual receipt and legal sufficiency of which
the parties hereto hereby acknowledge, Landlord and Tenant hereby agree as follows: 
 Article 1 

DEMISE, TERM, FIXED RENT 

1.1. Demise. 
 Subject to
the terms hereof, Landlord hereby demises and lets to Tenant and Tenant hereby hires and takes from Landlord the Premises for the term to commence on the Commencement Date and to end on the last day of the calendar month during which occurs the day
immediately preceding the date that is five (5) years after the Rent Commencement Date (the “Fixed Expiration Date”; the Fixed Expiration Date, or such earlier date that the term of this Lease terminates pursuant to the terms
hereof or pursuant to law, being referred to herein as the “Expiration Date”; the term commencing on the Commencement Date and ending on the Expiration Date being referred to herein as the “Term”). 

1.2. Commencement Date. 

(A) The term of this Lease shall commence on the date that Landlord delivers vacant and exclusive possession of the Premises, subject to and in
accordance with Article 6 hereof, to Tenant with Landlord’s Work Substantially Complete (such date that Landlord delivers vacant and exclusive possession of the Premises, subject to and in accordance with Article 6 hereof, to Tenant with
Landlord’s Work Substantially Complete being referred to herein as the “Commencement Date”). 

  
 1 

 (B) The term “Rental” shall mean, collectively, the Fixed Rent, the
Escalation Rent the additional rent payable by Tenant to Landlord hereunder, and all other amounts payable by Tenant to Landlord hereunder. 

1.3. Rent Commencement Date. 

The term “Rent Commencement Date” shall mean the one hundred eighty-second (182nd) day after the Commencement Date. 

1.4. Fixed Rent. 
 (A) The
annual fixed rent for the Premises (the annual fixed rent payable hereunder for the Premises at any particular time being referred to herein as the “Fixed Rent”) shall be One Million Fifty-Six
Thousand Dollars and No Cents ($1,056,000.00) ($88,000.00 per month) for the period commencing on the Rent Commencement Date and ending on the Fixed Expiration Date. 

1.5. Payments of Fixed Rent. 

(A) Subject to Section 1.5(E) hereof, Tenant shall pay the Fixed Rent in lawful money of the United States of America that is legal tender
in payment of all debts and dues, public and private, at the time of payment, in equal monthly installments, in advance, on the first (1st) day of each calendar month during the Term commencing on the Rent Commencement Date, at the office of
Landlord or such other place as Landlord may designate from time to time on at least thirty (30) days of advance notice to Tenant, without any set-off, offset, abatement or deduction whatsoever (except to
the extent otherwise expressly set forth herein). 
 (B) Landlord shall have the right to require Tenant to pay the Fixed Rent and any other
items of Rental when due by wire transfer of immediately available funds to an account that Landlord designates from time to time on at least thirty (30) days of advance notice to Tenant. 

(C) Subject to Section 1.5(B) hereof, Tenant shall have the right to pay the Fixed Rent and any other items of Rental by wire transfer of
immediately available funds to an account that Landlord designates from time to time on at least thirty (30) days of advance notice to Tenant. Landlord shall so designate an account within thirty (30) days after Tenant’s request
therefor from time to time. 
 (D) If the Rent Commencement Date is not the first (1st) day of a calendar month, then (x) the Fixed
Rent due hereunder for the calendar month during which the Rent Commencement Date occurs shall be adjusted appropriately based on the number of days in such calendar month, and (y) subject to Section 1.5(E) hereof, Tenant shall pay to
Landlord such amount (adjusted as aforesaid for such calendar month) on the Rent Commencement Date. If the Expiration Date is not the last day of a calendar month, then the Fixed Rent due hereunder for the calendar month during which the Expiration
Date occurs shall be adjusted appropriately based on the number of days in such calendar month. 

  
 2 

 (E) Tenant shall pay to Landlord within fifteen (15) days after the date hereof an
amount equal to Eighty-Eight Thousand Dollars and No Cents ($88,000.00), which Landlord shall apply to the Fixed Rent that first comes due hereunder from and after the Rent Commencement Date until such amount is exhausted. 

1.6. Certain Definitions. 

(A) The term “Affiliate” shall mean a Person that (1) Controls, (2) is under the Control of, or (3) is under common
Control with, the Person in question. 
 (B) The term “Applicable Rate” shall mean, at any particular time, the lesser of
(x) four hundred (400) basis points above the Base Rate at such time, and (y) the maximum rate permitted by applicable law at such time. 

(C) The term “Base Rate” shall mean the rate of interest announced publicly from time to time by Citibank, N.A., or its
successor, as its “prime lending rate” (or such other term as may be used by Citibank, N.A. (or its successor), from time to time, for the rate presently referred to as its “prime lending rate”). 

(D) The term “Business Days” shall mean all days, excluding Saturdays, Sundays and Holidays. 

(E) The term “Consumer Price Index” shall mean the Consumer Price Index for All Urban Consumers published by the Bureau of
Labor Statistics of the United States Department of Labor, All Items (1982-84 = 100), seasonally adjusted, for the most specific area that includes the location of the Building (which the parties acknowledge
is currently New York – Northern New Jersey – Long Island, NY – NJ – CT – PA), or any successor index thereto. If the Consumer Price Index is converted to a different standard reference base or otherwise revised, then the
determination of adjustments provided for herein shall be made with the use of such conversion factor, formula or table for converting the Consumer Price Index as may be published by the Bureau of Labor Statistics or, if said Bureau does not publish
such conversion factor, formula or table, then with the use of such conversion factor, formula or table as may be published by Prentice-Hall, Inc. or any other nationally recognized publisher of similar statistical information. If the Consumer Price
Index ceases to be published, and there is no successor thereto, then Landlord and Tenant shall use diligent efforts, in good faith, to agree upon a substitute index for the Consumer Price Index. Either party shall have the right to submit the issue
of the designation of such substitute index to an Expedited Arbitration Proceeding. 
 (F) The term “Control” shall mean
direct or indirect ownership of more than fifty percent (50%) of the outstanding voting stock of a corporation or other majority equity interest if not a corporation and the possession of power to direct or cause the direction of the management and
policy of such corporation or other entity, whether through the ownership of voting securities, by statute or by contract. 
 (G) The term
“Escalation Rent” shall mean the Rental payable to Landlord under Article 2 hereof. 

  
 3 

 (H) The term “GAAP” shall mean generally accepted accounting principles,
consistently applied, except that if, at any time from and after the date hereof, the American Institute of Certified Public Accountants adopts international financial reporting standards as the basis for financial reporting in the United States,
then references in this Lease to GAAP shall be deemed to be references to such international financial reporting standards, consistently applied. 

(I) The term “Holidays” shall mean all days observed as legal holidays by either (x) the State of New York, (y) the
United States of America, or (z) the labor unions that service the Building; provided, however, that if (x) all of the labor unions that service the Building do not observe a particular day as a holiday, and (y) the State of New York
or the United States of America do not otherwise observe such day as a holiday, then such day shall constitute a Holiday for purposes hereof only to the extent that Landlord requires the services that are provided by members of the particular labor
union to perform the corresponding service for Tenant hereunder (so that if, for example, (x) the labor union for office cleaning personnel observes a particular day as a holiday but the labor union for the engineers that operate the HVAC
System does not observe such day as a holiday, and (y) the State of New York or the United States of America does not otherwise observe such day as a holiday, then such day shall constitute a Holiday for purposes of determining whether Landlord
is required to provide office cleaning services on such day, but such day shall not constitute a Holiday for purposes of determining whether Landlord is required to provide HVAC services on such day). 

(J) The term “Initial Tenant Requirement” shall mean the requirement that Tenant is the Person that executed and delivered
this Lease initially as the tenant hereunder or a Person that succeeds to such Person pursuant to the terms of Section 17.8 hereof. 

(K) The term “Minimum Demise Requirement” shall mean the requirement that this Lease demises at least thirteen thousand two
hundred (13,200) square feet of Rentable Area. 
 (L) The term “Minimum Occupancy Requirement” shall mean the requirement
that Tenant (or an Affiliate of Tenant) occupies at least one hundred percent (100%) of the Rentable Area that is demised by this Lease for the conduct of business. 

(M) The term “Out-of-Pocket Costs” shall mean
costs that a Person pays to a third party that is not an Affiliate of such Person (and, accordingly, Out-of-Pocket Costs shall not include (i) the costs that such
Person incurs in compensating its own employees to perform a service or supervise work within the scope of their employment, or (ii) the administrative costs that such Person incurs in operating its own offices). 

(N) The term “Person” shall mean any natural person or persons or any legal form of association, including, without
limitation, a partnership, a limited partnership, a corporation, and a limited liability company. 
 (O) The term “Rentable
Area” shall mean, with respect to a particular floor area, the area thereof (expressed as a particular number of square feet), as determined in accordance with the standards that the parties used to calculate that the area of the Premises
is thirteen thousand two hundred (13,200) square feet in the aggregate. 

  
 4 

 (P) The term “Usable Area” shall mean, with respect to a particular floor
area, the usable area thereof (expressed as a particular number of square feet), as determined in accordance with The Recommended Method of Floor Measurement of Office Buildings, Effective January 1, 1987, Revised December 2003, as published by
The Real Estate Board of New York, Inc. 
 Article 2 

ESCALATION RENT 
 2.1.
Operating Expense Definitions. 
 (A) The term “Base Operating Expenses” shall mean the Operating Expenses for the
Base Operating Expense Year. 
 (B) The term “Base Operating Expense Year” shall mean the 2018 calendar year. 

(C) The term “Operating Expenses” shall mean, subject to the terms of this Section 2.1 and to Section 2.2(F)
hereof, the expenses paid or incurred by or on behalf of Landlord in insuring, maintaining, repairing, managing and operating the Real Property (and employing personnel therefor) and for the operations thereof, as reflected on Landlord’s books
(which Landlord shall keep in accordance with GAAP). Landlord shall have the right to include in Operating Expenses for a particular Operating Expense Year (and shall include in Operating Expenses for the Base Operating Year) a property management
charge in an amount equal to the product obtained by multiplying (i) three percent (3%), by (ii) the gross rents that Landlord collects from Tenant and the other tenants in the Building during such Operating Expense Year (such amount being
referred to herein as the “Property Management Charge”). Operating Expenses shall exclude: 
 (1) Taxes, 

(2) Excluded Amounts, 
 (3)
subject to Section 2.2(F) hereof, payments of interest or principal in respect of Landlord’s debt (including, without limitation, any debt that is secured by Mortgages), 

(4) expenses that relate to leasing space in the Building (including, without limitation, the cost of tenant improvements (or allowances that
Landlord provides to a tenant therefor), the cost of performing improvements to prepare a particular portion of the Building for occupancy by a tenant, the cost of rent concessions, advertising expenses, leasing commissions and the cost of lease buy-outs), 
 (5) expenses that Landlord incurs in selling, purchasing, financing or refinancing the Real
Property, 

  
 5 

 (6) the cost of any repairs, replacements or improvements to the Building that are required
to be capitalized by GAAP (including, without limitation, lease obligations that are required to be capitalized under GAAP) (except in each case as otherwise provided in Section 2.2(F) hereof), 

(7) depreciation or amortization expense (subject, however, to Section 2.2(F) hereof), 

(8) the cost of electricity that is furnished to the portions of the Building that Landlord has leased, that Landlord is offering for lease,
or that otherwise constitutes leasable space that is not used for the general benefit of the occupants of the Building (it being understood that Operating Expenses shall include the cost of electricity that is required to operate the Building
Systems as provided in Section 2.2(B) hereof), 
 (9) salaries and the cost of benefits in either case for personnel above the grade of
building manager, 
 (10) charges for the general overhead costs that Landlord incurs in managing, operating, maintaining, or staffing its
offices that are not located at the Building other than salaries and the costs of benefits of Persons providing services to and properly allocable to the Building, 

(11) rent paid or payable under Superior Leases (except to the extent that (I) such rent that is paid or payable under any such Superior
Lease is for Taxes or Operating Expenses, and (II) Landlord has not otherwise included such Taxes or Operating Expenses in the calculation of Escalation Rent under this Article 2), 

(12) subject to Section 2.2 hereof, any expense for which Landlord is otherwise compensated, whether by virtue of insurance proceeds,
condemnation proceeds, claims under warranties, Tenant or other tenants in the Building making payment directly to Landlord for Landlord’s services in the Building or otherwise (other than by virtue of other tenants in the Building making
payments to Landlord for Operating Expenses as escalation rental), 
 (13) the cost of providing any level of service that exceeds the level
of service that Landlord furnishes to Tenant hereunder, 
 (14) legal or arbitration fees and disbursements that are paid or incurred in
connection with the negotiation of, or disputes arising out of, any lease for space in the Real Property, 
 (15) costs that Landlord incurs
in restoring the Building after the occurrence of a fire or other casualty or after a partial condemnation thereof (other than the amount of retained losses), 

(16) the expenses paid or incurred by or on behalf of Landlord in owning, maintaining, repairing, managing and operating the portion of the
Real Property that is used for retail purposes; 

  
 6 

 (17) advertising, entertainment and promotional costs that are paid or incurred for the
Building, 
 (18) management fees that Landlord pays to a property manager (it being understood, however, that nothing in this clause
(18) limits Landlord’s right to include in Operating Expenses the Property Management Charge), 
 (19) any fee or expenditure that
is paid or payable to any Affiliate of Landlord to the extent that such fee or expenditure exceeds the amount that would be reasonably expected to be paid in the absence of such relationship, 

(20) interest, penalties and late charges that in either case are paid or incurred as a result of late payments made by Landlord or by reason
of Landlord’s failure to comply with Requirements (to the extent that Landlord is required to comply with such Requirements pursuant to the terms hereof), 

(21) costs incurred in operating any sign or other similar device designed principally for advertising or promotion to the extent that
Landlord leases or licenses to a third party such sign or device, or the portion of the Building where such sign or device is installed, 

(22) the cost of any judgment, settlement, or arbitration award resulting from any liability of Landlord (other than liability for amounts
otherwise includible in Operating Expenses hereunder) and all expenses incurred in connection therewith, 
 (23) amounts payable by Landlord
for withdrawal liability or unfunded pension liability to a multi-employer pension plan (under Title IV of the Employee Retirement Income Security Act of 1974, as amended), 

(24) costs incurred by Landlord which result from Landlord’s breach of this Lease or Landlord’s negligence or willful misconduct,

 (25) costs that Landlord incurs to correct a representation made by Landlord in this Lease, 

(26) fines or penalties that are assessed against Landlord by a Governmental Authority by virtue of violations at the Building of applicable
Requirements, 
 (27) fees, dues or contributions that Landlord pays voluntarily to civic organizations, charities, political parties or
political action committees, 
 (28) the cost of providing HVAC during Overtime Periods to portions of the Building that Landlord has
leased, that Landlord is offering for lease, or that otherwise constitutes leasable space that is not used for the general benefit of the occupants of the Building (except that Landlord shall have the right to include in Operating Expenses the cost
of providing HVAC during Overtime Periods that Landlord ordinarily supplies to the Building generally in accordance with good management practices), 

  
 7 

 (29) the cost of providing freight elevator or loading dock service during Overtime Periods
(except that Landlord shall have the right to include in Operating Expenses the cost of providing freight elevator or loading dock service during Overtime Periods that Landlord ordinarily supplies to the Building generally in accordance with good
management practices), 
 (30) the cost of objects of fine art that Landlord installs in the Building (with the understanding, however, that
(x) Landlord shall have the right to include in Operating Expenses the cost of fine art that Landlord installs in the Building to the extent that such installation is required by applicable Requirements (subject, however, to Section 2.2(F)
hereof), and (y) nothing contained in this clause (30) precludes Landlord from including in Operating Expenses the cost of maintaining and repairing objects of fine art that Landlord installs in the common areas of the Building), 

(31) costs associated with the construction, installation, repair or operation of any broadcasting facility, conference center, luncheon club,
athletic facility, child care facility, auditorium, cafeteria, or any other similar specialty facility, except to the extent that any such facility exists in the Building as of the date hereof for the general benefit of tenants in the Building, 

(32) costs that Landlord incurs in operating an ancillary service in the Building in respect of which users pay a separate charge (such as a
shoe shine stand, a newsstand, a stationery store or a parking facility), 
 (33) costs that are duplicative of any other cost that is
included in Operating Expenses, 
 (34) costs that Landlord incurs in organizing or maintaining in good standing the entity that constitutes
Landlord, or in authorizing Landlord to do business in the jurisdiction where the Building is located, 
 (35) the portion of any costs that
are properly allocable to any building other than Building, 
 (36) costs incurred in connection with the acquisition or sale of air rights,
transferable development rights, easements or other real property interests, and 
 (37) costs incurred in connection with expanding the
Rentable Area of the Building. 
 (D) The term “Operating Expense Payment” shall mean, with respect to any Operating
Expense Year, the product obtained by multiplying (i) the excess (if any) of (A) the Operating Expenses for such Operating Expense Year, over (B) the Base Operating Expenses, by (ii) Tenant’s Operating Expense Share. 

(E) The term “Operating Expense Statement” shall mean a statement that shows the Operating Expense Payment for a particular
Operating Expense Year. 

  
 8 

 (F) The term “Operating Expense Year” shall mean the Base Operating Expense
Year and each subsequent calendar year. 
 (G) The term “Tenant’s Operating Expense Share” shall mean,
subject to the terms hereof, one and four hundred forty-five one-thousandths percent (1.445%). 

2.2. Calculation of Operating Expenses. 

(A) 
 (1) Subject to the terms of
this Section 2.2(A), if the entire Rentable Area of the Building (other than the retail portion thereof) is not occupied by Persons conducting business therein for the entire Operating Expense Year, then, for purposes of calculating the
Operating Expense Payment, Landlord shall have the right to increase Operating Expenses that vary based on the extent to which the Building is so occupied by the amount that Landlord would have included in Operating Expenses if the entire Rentable
Area of the Real Property (other than the retail portion thereof) was occupied by Persons conducting business therein for the entire Operating Expense Year. 

(2) Subject to the terms of this Section 2.2(A), if (i) for any particular period, Landlord performs a particular service or a
particular level of service for the benefit of Tenant in operating the Real Property, (ii) Tenant does not otherwise pay to Landlord additional rent for the costs incurred by Landlord in performing such service or such level of service,
(iii) Landlord includes the cost of performing such service or such level of service in Operating Expenses for purposes of calculating the Operating Expense Payment for the applicable Operating Expense Year, and (iv) Landlord does not
perform such service or such level of service for the benefit of all of the other portions of the Real Property that are occupied by Persons conducting business therein for the applicable period, then, for purposes of calculating the Operating
Expense Payment, Landlord shall have the right to increase Operating Expenses that vary based on the extent to which Landlord performs such service or such level of service for the benefit of occupants of the Building by the amount that Landlord
would have included in Operating Expenses if Landlord performed such service or such level of service for the entire Rentable Area of the Real Property (other than the retail portion thereof) that is occupied by Persons conducting business therein
for the applicable period. 
 (3) Subject to the terms of this Section 2.2(A), if Landlord does not collect rents for all or any
portion of the leasable space in the Building for any particular Operating Expense Year (or a portion thereof), then Landlord shall have the right to increase Operating Expenses to reflect the Property Management Charge that Landlord would have
incurred if Landlord had collected rents for the entire applicable Operating Expense Year for all of the leasable area in the Building. If (x) a lease for the leasable space in the Building (or a portion thereof) is in effect, and
(y) Landlord does not collect rent therefor for any reason (including, without limitation, the effectiveness of a rent abatement or the tenant’s default under the applicable lease), then Landlord shall calculate the Property Management
Charge as provided in this Section 2.2(A)(3) at the rental rate that applies thereunder (it being understood that if a rental abatement is in effect, then the Property Management Charge shall be calculated at the rental rate that applies
immediately after the last day of the abatement period). If a lease for the leasable space in the Building (or a portion thereof) is not in effect, then Landlord shall calculate the Property Management Charge as provided in this
Section 2.2(A)(3) at the then market rental rate. 

  
 9 

 (4) Subject to the terms of this Section 2.2(A), if Landlord, during a particular
Operating Expense Year (or a portion thereof), does not perform repair and maintenance on a particular element of the Building because such element of the Building is out of service or not fully in use, then Landlord shall have the right to increase
Operating Expenses to reflect the amount of expenses that Landlord would have incurred if Landlord had performed such repair and maintenance for the entire Operating Expense Year. Accordingly, if, for example, during a particular Operating Expense
Year, Landlord does not incur costs to repair and maintain the finishes in the lobby of the Building because the lobby is not in service for such Operating Expense Year, then Landlord shall have the right to include in Operating Expenses for such
Operating Expense Year the costs that Landlord would have incurred in repairing and maintaining the finishes in the lobby of the Building for the entire Operating Expense Year. 

(5) Landlord shall increase the Operating Expenses for the Base Operating Expense Year as described in this Section 2.2(A). For purposes
of calculating the Operating Expenses for the Base Operating Expense Year, any fee or expenditure that otherwise constitutes an Operating Expense and that is paid or payable to any Affiliate of Landlord shall not be less than the amount that would
be reasonably expected to be paid in the absence of such relationship. 
 (B) Landlord shall have the right to include in Operating Expenses
(and Landlord shall include in Base Operating Expenses), for the electricity supplied to the Building Systems and other common elements of the Building, an amount equal to one hundred percent (100%) of the sum of: 

(1) the product obtained by multiplying (i) the Average Cost per Peak Demand Kilowatt, by (ii) the number of kilowatts that
constituted the peak demand for electricity for the Building Systems and the other common elements of the Building for the applicable period (as registered on a submeter or submeters, or, at Landlord’s option and own expense, as determined from
time to time by a survey prepared by an independent and reputable electrical consultant) (it being understood that such number of kilowatts as described in clause (ii) above shall not include the number of kilowatts that are attributable to the
operation of the Building Systems to the extent that Tenant (or other tenants in the Building) make separate payment to Landlord therefor), and 

(2) the product obtained by multiplying (i) the Average Cost per Kilowatt Hour, by (ii) the number of kilowatt hours of electricity
used by the Building Systems and the other common elements of the Building for the applicable period (as registered on a submeter or submeters, or, at Landlord’s option and own expense, as determined by a survey prepared by an independent and
reputable electrical consultant) (it being understood that such number of kilowatt hours as described in clause (ii) above shall not include the number of kilowatt hours that are attributable to the operation of the Building Systems to the
extent that Tenant (or other tenants in the Building) make separate payment to Landlord therefor). 

  
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 (C) The term “Average Cost per Peak Demand Kilowatt” shall
mean, with respect to any particular period, the quotient obtained by dividing (x) the aggregate charge imposed by the Utility Company on Landlord for the Utility Company’s making available electricity that satisfies the Building’s
peak demand for electricity during such period, by (y) the number of kilowatts that constituted such peak demand, as reflected on the electric meter or meters for the Building. 

(D) The term “Average Cost per Kilowatt Hour” shall mean, with respect to any particular period, the quotient obtained by
dividing (x) the aggregate charge imposed by the Utility Company on Landlord for the electricity supplied to the Building for such period (other than the aggregate charge imposed by the Utility Company on Landlord for the Utility Company’s
making available electricity that satisfies the Building’s peak demand for electricity during such period), by (y) the number of kilowatt hours of electricity used in the Building during such period, as reflected on the electric meter or
meters for the Building. 
 (E) The term “Utility Company” shall mean, collectively, the local electrical energy
distribution company and the competitive energy provider with which Landlord has made arrangements to obtain electric service for the Building; provided, however, that if Landlord makes arrangements to produce electricity to satisfy all or a portion
of the requirements of the Building, then (I) Utility Company shall also refer to the producer of such electricity, and (II) the charges imposed by such producer shall be included in the calculation of Average Cost per Kilowatt Hour and
Average Cost per Peak Demand Kilowatt to the extent that such charges do not exceed the charges that Landlord would have otherwise incurred if Landlord had made arrangements to satisfy all of the Building’s electrical requirements from a local
electrical energy distribution company and a competitive energy provider. 
 (F) If (i) Landlord makes an improvement to the Real
Property or a replacement of equipment at the Real Property in either case in connection with the maintenance, repair, management or operation thereof, (ii) GAAP requires Landlord to capitalize the cost of such improvement or such replacement,
and (iii) such improvement or replacement is made (a) to comply with a Requirement, (b) in lieu of repairs, or (c) for the purpose of saving or reducing Operating Expenses (such as, for example, an improvement that reduces labor
costs or an improvement that saves energy costs), then Landlord shall have the right to include in Operating Expenses for each Operating Expense Year the amount that amortizes the cost of such improvement or such replacement, together with interest
on the unamortized portion thereof that is calculated at two hundred (200) basis points in excess of the Base Rate, in equal annual installments over the useful life of such improvement or such equipment as determined in accordance with GAAP
(until the cost of such improvement or such equipment is amortized fully); provided, however, that (I) for any such improvement or replacement that Landlord makes for the purpose of saving or reducing Operating Expenses, Landlord shall have the
right to include in Operating Expenses for each Operating Expense Year the amount that amortizes the cost of such improvement or such replacement, together with interest on the unamortized portion of the cost of such improvement or replacement that
is calculated at two hundred (200) basis points in excess of the Base Rate, in equal annual installments over the period that Landlord reasonably determines that the cost of such improvement or replacement (and such interest) will equal the
aggregate amount of the reduction in other Operating Expenses for each Operating Expense Year that derives from such 

  
 11 

 
improvement or such replacement (with the understanding, however, that such period shall in no event exceed the useful life of such improvement or replacement as determined in accordance with
GAAP), and (II) for any such improvement or replacement that Landlord makes in lieu of a repair (and that Landlord does not make to comply with a Requirement or for the purpose of saving or reducing Operating Expenses), the aforesaid amount
that Landlord includes in Operating Expenses for any particular Operating Expense Year shall not exceed the cost of the repairs that Landlord would have otherwise made if Landlord did not make such improvement or replacement. 

2.3. Operating Expense Payment. 

(A) The term “Operating Expense Commencement Date” shall mean the date that is the first (1st) anniversary of the Commencement
Date. Commencing on the Operating Expense Commencement Date, Tenant shall pay the Operating Expense Payment to Landlord in accordance with the terms of this Section 2.3. 

(B) Landlord shall have the right to give a statement to Tenant from time to time pursuant to which Landlord sets forth Landlord’s good
faith estimate of the Operating Expense Payment for a particular Operating Expense Year (any such statement that Landlord gives to Tenant being referred to herein as a “Prospective Operating Expense Statement”; one-twelfth (1/12th) of the Operating Expense Payment shown on a Prospective Operating Expense Statement being referred to herein as the “Monthly Operating Expense Payment Amount”). If Landlord
gives to Tenant a Prospective Operating Expense Statement (or Landlord is deemed to have given to Tenant a Prospective Operating Expense Statement pursuant to Section 2.3(C) hereof), then Tenant shall pay to Landlord, as additional rent, on
account of the Operating Expense Payment due hereunder for such Operating Expense Year, the Monthly Operating Expense Payment Amount, on the first (1st) day of each subsequent calendar month for the remainder of such Operating Expense Year, in the
same manner as the monthly installments of the Fixed Rent hereunder (it being understood that Tenant shall not be required to commence such payments of the Monthly Operating Expense Payment Amount (x) before the first (1st) day of the Operating
Expense Year to which relates the applicable Monthly Operating Expense Payment Amount, or (y) earlier than the thirtieth (30th) day after the date that Landlord gives the Prospective Operating Expense Statement to Tenant). If Landlord gives (or
is deemed to have given) to Tenant a Prospective Operating Expense Statement after the first (1st) day of the applicable Operating Expense Year, then Tenant shall also pay to Landlord, within thirty (30) days after the date that Landlord gives
the Prospective Operating Expense Statement to Tenant, an amount equal to the excess of (I) the product obtained by multiplying (x) the Monthly Operating Expense Payment Amount, by (y) the number of calendar months that have
theretofore elapsed during such Operating Expense Year, over (II) the aggregate amount theretofore paid by Tenant to Landlord on account of the Operating Expense Payment for such Operating Expense Year. If Landlord gives (or is deemed to have
given) to Tenant a Prospective Operating Expense Statement for a particular Operating Expense Year, then Landlord shall also provide to Tenant, within two hundred seventy (270) days after the last day of such Operating Expense Year, an
Operating Expense Statement for such Operating Expense Year. 

  
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 (C) Tenant shall pay to Landlord an amount equal to the excess (if any) of (i) the
Operating Expense Payment as reflected on an Operating Expense Statement that Landlord gives to Tenant, over (ii) the aggregate amount that Tenant has theretofore paid to Landlord on account of the Operating Expense Payment (if any) as
contemplated by Section 2.3(B) hereof, within thirty (30) days after the date that Landlord gives such Operating Expense Statement to Tenant. Tenant shall have the right to credit against the Rental thereafter coming due hereunder an
amount equal to the excess (if any) of (i) the aggregate amount that Tenant has theretofore paid to Landlord on account of the Operating Expense Payment as contemplated by Section 2.3(B) hereof, over (ii) the Operating Expense Payment
as reflected on such Operating Expense Statement; provided, however, that if the Expiration Date occurs prior to the date that such credit is exhausted, then Landlord shall pay to Tenant the unused portion of such credit on or prior to the thirtieth
(30th) day after the Expiration Date (it being understood that Landlord’s obligation to make such payment to Tenant shall survive the Expiration Date). If Landlord gives Tenant an Operating Expense Statement, then, unless Landlord otherwise
specifies in such Operating Expense Statement, Landlord shall be deemed to have given to Tenant a Prospective Operating Expense Statement for the Operating Expense Year immediately succeeding the Operating Expense Year that is covered by such
Operating Expense Statement, that reflects an Operating Expense Payment for such immediately succeeding Operating Expense Year in an amount equal to the Operating Expense Payment for such Operating Expense Year that is covered by such Operating
Expense Statement. 
 (D) If the Operating Expense Commencement Date occurs later than the first (1st) day of the Operating Expense Year
that immediately succeeds the Base Operating Expense Year, then the Operating Expense Payment for the Operating Expense Year during which the Operating Expense Commencement Date occurs shall be an amount equal to the product obtained by multiplying
(X) the Operating Expense Payment that would have been due hereunder if the Operating Expense Commencement Date was the first (1st) day of such Operating Expense Year, by (Y) a fraction, the numerator of which is the number of days in the
period beginning on the Operating Expense Commencement Date and ending on the last day of such Operating Expense Year, and the denominator of which is three hundred sixty-five (365) (or three hundred sixty-six
(366), if such Operating Expense Year is a leap year). 
 (E) If the Expiration Date is not the last day of an Operating Expense Year, then
the Operating Expense Payment for the Operating Expense Year during which the Expiration Date occurs shall be an amount equal to the product obtained by multiplying (X) the Operating Expense Payment that would have been due hereunder if the
Expiration Date was the last day of such Operating Expense Year, by (Y) a fraction, the numerator of which is the number of days in the period beginning on the first (1st) day of such calendar year and ending on the Expiration Date, and the
denominator of which is three hundred sixty-five (365) (or three hundred sixty-six (366), if such Operating Expense Year is a leap year). 

(F) Landlord’s failure to give Tenant an Operating Expense Statement or a Prospective Operating Expense Statement for any Operating
Expense Year shall not impair Landlord’s right to give Tenant an Operating Expense Statement or a Prospective Operating Expense Statement for any other Operating Expense Year. Subject to Section 2.3(H) hereof, Landlord shall not have the
right to require Tenant to make an Operating Expense Payment for a particular Operating Expense Year unless Landlord gives to Tenant an Operating Expense Statement for such Operating Expense Year within three (3) years after the last day of
such Operating Expense Year. 

  
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 (G) Landlord shall have the right to give to Tenant an Operating Expense Statement at any
time after the last day of the Base Operating Expense Year that reflects the Base Operating Expenses (regardless of whether such Operating Expense Statement reflects a payment that is due from Tenant on account of the Operating Expense Payment).

 (H) If the Operating Expenses for the Base Operating Expense Year are redetermined at any time after the date that Landlord gives an
Operating Expense Statement to Tenant for an Operating Expense Year, then Landlord shall give to Tenant a revised Operating Expense Statement that recalculates the Operating Expense Payment for an Operating Expense Year (using the Operating Expenses
that reflects such redetermination for the Base Operating Expense Year). If such revised Operating Expense Statements indicates that Tenant has underpaid the Operating Expense Payment for any Operating Expense Year, then Tenant shall pay to Landlord
an amount equal to the amount of such underpayment within thirty (30) days after Landlord gives such revised Operating Expense Statement to Tenant. If such revised Operating Expense Statement indicates that Tenant has overpaid the Operating
Expense Payment for any Operating Expense Year, then Tenant shall have the right to credit against the Rental thereafter coming due hereunder an amount equal to the amount of such overpayment; provided, however, that if the Expiration Date occurs
prior to the date that such credit is exhausted, then Landlord shall pay to Tenant the unused portion of such credit on or prior to the thirtieth (30th) day after the Expiration Date (it being understood that (I) Landlord’s obligation to
make such payment to Tenant shall survive the Expiration Date, and (II) nothing contained in this Section 2.3(H) limits Tenant’s rights under Section 2.4 hereof). 

(I) If, during any particular Operating Expense Year, Landlord receives a reimbursement, rebate or refund of an Operating Expense that
Landlord incurred in a prior Operating Expense Year that occurs after the Base Operating Expense Year, then Landlord shall (x) adjust the Operating Expenses for such Operating Expense Year retroactively, and (y) give promptly to Tenant a
revised Operating Expense Statement for such Operating Expense Year. If such revised Operating Expense Statement indicates that Tenant overpaid the Operating Expense Payment for such Operating Expense Year, then Tenant shall be entitled to credit
the amount of such overpayment of the Operating Expense Payment against the Rental thereafter coming due hereunder, together with interest thereon calculated at the Base Rate from the date that Tenant paid such overpayment to Landlord to the date
that Tenant uses such credit. If (x) Tenant is entitled to a credit against Rental pursuant to this Section 2.3(I), and (y) the Expiration Date occurs prior to the date that such credit is exhausted, then Landlord shall pay to Tenant
the unused portion of such credit on or prior to the thirtieth (30th) day after the Expiration Date (and Landlord’s obligation to make such payment shall survive the Expiration Date). 

  
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 2.4. Auditing of Operating Expense Statements. 

(A) Any Operating Expense Statement that Landlord gives to Tenant shall be binding upon Tenant conclusively unless, within ninety
(90) days after the date that Landlord gives Tenant such Operating Expense Statement, Tenant gives a notice to Landlord objecting to such Operating Expense Statement. Tenant’s right to give such notice (and conduct the audit contemplated
by this Section 2.4(A)) shall survive the Expiration Date (to the extent that the Expiration Date occurs earlier than the ninetieth (90th) day after the date that Landlord gives the applicable Operating Expense Statement to Tenant). Tenant
shall have the right to audit the Base Operating Expenses as contemplated by this Section 2.4(A) only after receiving the first Operating Expense Statement that sets forth the Base Operating Expenses (including, without limitation, an Operating
Expense Statement that Landlord gives to Tenant as described in Section 2.3(G) hereof), and, accordingly, once Tenant’s right to so audit Base Operating Expenses lapses, Tenant shall not have the right to thereafter audit Base Operating
Expenses, notwithstanding that Base Operating Expenses is included in the calculation of the Operating Expense Payment for subsequent Operating Expense Years). If Tenant gives such notice to Landlord, then, subject to the terms of this
Section 2.4(A), Tenant may examine Landlord’s books and records relating to such Operating Expense Statement to determine the accuracy thereof, provided that Tenant uses Tenant’s diligent efforts to consummate such examination within
a reasonable period after the date that Tenant gives such notice to Landlord. Tenant may perform such examination on reasonable advance notice to Landlord, at reasonable times, in Landlord’s office or, at Landlord’s option, at the office
of Landlord’s managing agent or accountants. Tenant shall not have the right to conduct an audit of Landlord’s books and records as described in this Section 2.4 during the period that an Event of Default has occurred and is
continuing. Tenant shall have the right to conduct such examination using Tenant’s own employees. Tenant, in performing such examination, shall also have the right to be accompanied by a certified public accountant from one of the “big-4” firms of certified public accountants (or their successors), or, at Tenant’s option, a certified public accountant from a reputable regional or local certified public accounting firm that is
reasonably acceptable to Landlord; provided, however, that Tenant shall not be entitled to be so accompanied by such representative unless Tenant and such firm certify to Landlord in a written instrument that is reasonably satisfactory to Landlord
that the compensation being paid by Tenant to such firm is not conditioned or otherwise contingent (in whole or in part) on the extent of any reduction in the Operating Expense Payment that derives from such examination. Tenant shall not have the
right to conduct any such audit unless Tenant delivers to Landlord a statement, in a form reasonably designated by Landlord, signed by Tenant and Tenant’s certified public accounting firm to which such books and records are proposed to be
disclosed, pursuant to which Tenant and such certified public accounting firm agrees to maintain the information obtained from such examination in confidence (subject, however, to the disclosure of the information that Tenant or Tenant’s
certified public accounting firm derive from such examination as required by law or to Tenant’s counsel or other professional advisors that in either case agree to maintain such information in confidence). 

(B) If it is determined ultimately that (i) Landlord, in an Operating Expense Statement, overstated the Operating Expense Payment, and
(ii) Tenant overpaid the Operating Expense Payment for a particular Operating Expense Year, then Tenant shall be entitled to credit the amount of such overpayment of the Operating Expense Payment against the Rental thereafter coming due
hereunder. If (x) Tenant is entitled to a credit against Rental pursuant to this Section 2.4(B), and (y) the Expiration Date occurs prior to the date that such credit is exhausted, then Landlord shall pay to Tenant the unused portion
of such credit on or prior to the thirtieth (30th) day after the Expiration Date (and Landlord’s obligation to make such payment shall survive the Expiration Date). 

  
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 (C) Nothing contained in this Section 2.4 shall constitute an extension of the date by
which Tenant is required to pay the Operating Expense Payment to Landlord hereunder. 
 2.5. Tax Definitions. 

(A) The term “Assessed Valuation” shall mean the amount for which the Real Property is assessed pursuant to applicable
provisions of the New York City Charter and of the Administrative Code of The City of New York, in either case for the purpose of calculating all or any portion of the Taxes. 

(B) The term “Base Taxes” shall mean the Taxes for the Base Tax Year. 

(C) The term “Base Tax Year” shall mean the fiscal year commencing on July 1, 2018 and ending on June 30, 2019.

 (D) The term “Excluded Amounts” shall mean (w) any taxes imposed on Landlord’s income, (x) franchise,
estate, inheritance, capital stock, excise, excess profits, gift, payroll or stamp taxes imposed on Landlord, (y) any transfer taxes or mortgage taxes that are imposed on Landlord in connection with the conveyance of the Real Property or
granting or recording a mortgage lien thereon, and (z) any other similar taxes imposed on Landlord. 
 (E) Subject to the terms of this
Section 2.5(E), the term “Taxes” shall mean the aggregate amount of real estate taxes and any general or special assessments that in each case are imposed upon the Real Property, including, without limitation, (i) any fee,
tax or charge imposed by any Governmental Authority for any vaults or vault spaces that in either case are appurtenant to the Real Property (except that Taxes shall not include such fee, tax or charge to the extent that Landlord leases or licenses
such vaults or vault spaces to a third party), and (ii) any taxes, fees or assessments levied, in whole or in part, for public benefits to the Real Property (including, without limitation, any business improvement district taxes, fees and
assessments and taxes, fees and assessments that are levied based on the use of water or energy by Landlord and/or the Building). Taxes shall be calculated without taking into account (a) any discount that Landlord receives by virtue of any
early payment of Taxes, (b) any penalties or interest that the applicable Governmental Authority imposes for the late payment of such real estate taxes or assessments, (c) any Excluded Amounts, (d) any real estate taxes that are
separately assessed against a sign or billboard that is affixed to the Building or otherwise located on the Real Property, and (e) any exemption or deferral of Taxes to which the Real Property is entitled under any program that a Governmental
Authority adopts to promote the improvement or redevelopment of real property. If, because of any change in the taxation of real estate, any other tax or assessment, however denominated (including, without limitation, any franchise, income, profits,
sales, use, occupancy, gross receipts or rental tax), is imposed upon the Real Property, the owner thereof, or the occupancy, rents or income derived therefrom, in substitution for any of the Taxes (to the extent that such substitution is evidenced
by either the terms of the legislation imposing such tax or assessment, the legislative history thereof, or other documents or evidence that reasonably demonstrate that the applicable Governmental Authority

  
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intended for such tax or assessment to constitute a substitution for any Taxes), then such other tax or assessment to the extent substituted shall be included in Taxes for purposes hereof
(assuming that the Real Property is Landlord’s sole asset and the income therefrom is Landlord’s sole income). If any such real estate taxes or assessments are payable in installments without interest, premium or penalty, then Landlord
shall include in Taxes for any particular Tax Year only the installment of such real estate taxes or assessments that the applicable Governmental Authority requires Landlord to pay (and that Landlord actually pays) during such Tax Year. 

(F) The term “Tax Payment” shall mean, with respect to any Tax Year, the product obtained by multiplying (i) the excess
of (A) Taxes for such Tax Year, over (B) the Base Taxes, by (ii) Tenant’s Tax Share. 
 (G) The term “Tax
Statement” shall mean a statement that shows the Tax Payment for a particular Tax Year. 
 (H) The term “Tax Year”
shall mean the Base Tax Year and each subsequent period from July 1 through June 30 (or such other period as hereinafter may be duly adopted by the Governmental Authority then imposing Taxes as its fiscal year for real estate tax
purposes). 
 (I) The term “Tenant’s Tax Share” shall mean, subject to the terms hereof, one and three
thousand three hundred thirty-four ten-thousandths percent (1.3334%). 
 2.6. Tax Payment.

 (A) The term “Tax Payment Commencement Date” shall mean the date that is the first (1st) anniversary of the Commencement
Date. Commencing on the Tax Payment Commencement Date and subject to the provisions of this Section 2.6, Tenant shall pay to Landlord, as additional rent, the Tax Payment. 

(B) Landlord shall have the right to give a statement to Tenant from time to time pursuant to which Landlord sets forth Landlord’s good
faith estimate of the Tax Payment for a particular Tax Year (any such statement that Landlord gives to Tenant being referred to herein as a “Prospective Tax Statement”; one-twelfth (1/12th) of
the Tax Payment shown on a Prospective Tax Statement being referred to herein as the “Monthly Tax Payment Amount”). If Landlord gives (or is deemed to have given) to Tenant a Prospective Tax Statement, then, subject to the terms of
this Section 2.6(B), Tenant shall pay to Landlord, as additional rent, on account of the Tax Payment due hereunder for such Tax Year, the Monthly Tax Payment Amount, on the first (1st) day of each subsequent calendar month until Tenant has paid
to Landlord, pursuant to this Section 2.6(B), the full amount of the Tax Payment as so estimated in the Prospective Tax Statement. Tenant shall pay the Monthly Tax Payment Amount to Landlord in the same manner as the monthly installments of the
Fixed Rent hereunder. Landlord shall not have the right to require Tenant to commence Tenant’s payment of the Monthly Tax Payment Amount for a particular Tax Year earlier than the one hundred fiftieth (150th) day of the immediately preceding
Tax Year. If Landlord gives (or is deemed to have given) to Tenant a Prospective Tax Statement after the one hundred fiftieth (150th) day of the immediately preceding Tax Year, then Tenant shall also pay to Landlord, within thirty (30) days
after the date that Landlord gives the Prospective Tax Statement to Tenant, an amount equal to the excess of (I) the product obtained 

  
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by multiplying (x) the Monthly Tax Payment Amount, by (y) the number of calendar months that have theretofore elapsed since the one hundred fiftieth (150th) day of the immediately
preceding Tax Year, over (II) the aggregate amount theretofore paid by Tenant to Landlord on account of the Tax Payment for the Tax Year to which the Prospective Tax Statement relates. Landlord shall not have the right to use this
Section 2.6(B) to collect more than fifty percent (50%) of the Tax Payment shown on a particular Prospective Tax Statement earlier than the thirtieth (30th) day before the date that the first installment of Taxes is due to the applicable
Governmental Authority for a particular Tax Year. If Landlord gives (or is deemed to have given) to Tenant a Prospective Tax Statement for a particular Tax Year, then Landlord shall also provide to Tenant, within one hundred eighty (180) days
after the last day of such Tax Year, a Tax Statement for such Tax Year. 
 (C) Tenant shall pay to Landlord an amount equal to the excess
(if any) of (i) the Tax Payment as reflected on a Tax Statement that Landlord gives to Tenant, over (ii) the aggregate amount that Tenant has theretofore paid to Landlord on account of the Tax Payment (if any) as contemplated by
Section 2.6(B) hereof, within thirty (30) days after the date that Landlord gives such Tax Statement to Tenant. Tenant shall have the right to credit against the Rental thereafter coming due hereunder an amount equal to the excess (if any)
of (i) the aggregate amount that Tenant has theretofore paid to Landlord on account of the Tax Payment as contemplated by Section 2.6(B) hereof, over (ii) the Tax Payment as reflected on such Tax Statement; provided, however, that if
the Expiration Date occurs prior to the date that such credit is exhausted, then Landlord shall pay to Tenant the unused portion of such credit on or prior to the thirtieth (30th) day after the Expiration Date (it being understood that
Landlord’s obligation to make such payment to Tenant shall survive the Expiration Date). If Landlord gives Tenant a Tax Statement, then, unless Landlord otherwise specifies in such Tax Statement, Landlord shall be deemed to have given to Tenant
a Prospective Tax Statement, for the Tax Year immediately succeeding the Tax Year that is covered by such Tax Statement, that reflects a Tax Payment for such immediately succeeding Tax Year in an amount equal to the Tax Payment for such Tax Year
that is covered by such Tax Statement. 
 (D) If the Tax Payment Commencement Date occurs later than the first (1st) day of the Tax Year
that immediately succeeds the Base Tax Year, then the Tax Payment for the Tax Year during which the Tax Payment Commencement Date occurs shall be an amount equal to the product obtained by multiplying (X) the Tax Payment that would have been
due hereunder if the Tax Payment Commencement Date was the first (1st) day of such Tax Year, by (Y) a fraction, the numerator of which is the number of days in the period beginning on the Tax Payment Commencement Date and ending on the last day
of such Tax Year, and the denominator of which is three hundred sixty-five (365) (or three hundred sixty-six (366), if such Tax Year includes the month of February in a leap year). 

(E) If the Expiration Date is not the last day of a Tax Year, then the Tax Payment for the Tax Year during which the Expiration Date occurs
shall be an amount equal to the product obtained by multiplying (X) the Tax Payment that would have been due hereunder if the Expiration Date was the last day of such Tax Year, by (Y) a fraction, the numerator of which is the number of
days in the period beginning on the first (1st) day of such Tax Year and ending on the Expiration Date, and the denominator of which is three hundred sixty-five (365) (or three hundred sixty-six (366), if such
Tax Year includes the month of February in a leap year). 

  
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 (F) The Tax Payment shall be computed initially on the basis of the Assessed Valuation in
effect on the date that Landlord gives the applicable Tax Statement to Tenant (as the Taxes may have been settled or finally adjudicated prior to such time) regardless of any then pending application, proceeding or appeal to reduce the Assessed
Valuation, but shall be subject to subsequent adjustment as provided in Section 2.7 hereof 
 (G) Tenant shall pay the Tax Payment
regardless of whether Tenant is exempt, in whole or part, from the payment of any Taxes by reason of Tenant’s diplomatic status or otherwise. 

(H) If Taxes are required to be paid on any date or dates other than as presently required by the Governmental Authority imposing Taxes, then
the due date of the installments of the Tax Payment shall be adjusted so that each such installment is due from Tenant to Landlord thirty (30) days prior to the date that the corresponding payment is due to the Governmental Authority (with the
understanding, however, that Tenant shall not be required to pay a Tax Payment to Landlord earlier than the thirtieth (30th) day after the date that Landlord gives the applicable Tax Statement to Tenant). 

(I) Landlord’s failure to give to Tenant a Tax Statement for any Tax Year shall not impair Landlord’s right to give to Tenant a Tax
Statement for any other Tax Year. Subject to Section 2.6(C) hereof, Landlord shall not have the right to give a Tax Statement to Tenant to make a Tax Payment for a particular Tax Year unless Landlord gives to Tenant a Tax Statement for such Tax
Year within three (3) years after the last day of such Tax Year (or, if a certiorari proceeding has been instituted or shall be instituted with respect to such Tax Year and/or the Base Tax Year, three (3) years after the final resolution
of such proceeding, if later); provided that such prohibition shall only apply if Landlord’s failure to give a Tax Statement to Tenant within the three (3) year period is caused by Landlord (as opposed to, for example, a failure by the
Governmental Authority to invoice Landlord or an error by the Governmental Authority in calculating or billing the applicable Taxes). 
 (J)
Landlord shall give to Tenant a copy of the relevant tax bill for each Tax Year (to the extent that the applicable Governmental Authority has issued such tax bill to Landlord) promptly after Tenant’s request therefor from time to time. 

2.7. Tax Reduction Proceedings. 

(A) Landlord (and not Tenant) shall be eligible to institute proceedings to reduce the Assessed Valuation. 

(B) If, after a Tax Statement has been sent to Tenant, an Assessed Valuation that Landlord used to compute the Tax Payment for a Tax Year is
reduced, and, as a result thereof, a refund of Taxes is actually received by, or credited to, Landlord, then Landlord, promptly after Landlord’s receipt of such refund (or such refund is credited to Landlord, as the case may be), shall send to
Tenant a Tax Statement adjusting the Taxes for such Tax Year and setting forth, based on such adjustment, the portion of such refund for which Tenant is entitled 

  
 19 

 
a credit as set forth in this Section 2.7(B). Landlord shall have the right to deduct from such refund the reasonable
Out-of-Pocket Costs that Landlord incurs in obtaining such refund (so that Landlord, in calculating the adjusted Tax Payment, takes into account only the net proceeds of
such refund that Landlord receives (or that is credited to Landlord)). Landlord shall credit the portion of such refund to which Tenant is entitled against the Rental thereafter coming due hereunder. If (x) Tenant is entitled to a credit
against Rental pursuant to this Section 2.7(B), and (y) the Expiration Date occurs prior to the date that such credit is exhausted, then Landlord shall pay to Tenant the unused portion of such credit on or prior to the thirtieth (30th) day
after the Expiration Date (and Landlord’s obligation to make such payment shall survive the Expiration Date). If (i) Landlord receives such refund (or a credit therefor) after the Expiration Date, and (ii) Tenant is entitled to a
portion thereof as contemplated by this Section 2.7(B), then Landlord shall pay to Tenant an amount equal to Tenant’s share of such refund (or such credit) within thirty (30) days after the date that such refund is paid to Landlord
(or such refund is credited to Landlord, as the case may be) (and Landlord’s obligation to make such payment shall survive the Expiration Date). 

(C) 
 (1) If the Assessed
Valuation for the Base Tax Year is reduced at any time after the date that Landlord gives a Tax Statement to Tenant for a Tax Year, then Landlord shall have the right to give to Tenant a revised Tax Statement that recalculates the Tax Payment for a
Tax Year (using the Taxes that reflect such reduction in such Assessed Valuation). Tenant shall pay to Landlord an amount equal to the excess of (i) the Tax Payment as reflected on such revised Tax Statement, over (ii) the Tax Payment as
reflected on the prior Tax Statement, within thirty (30) days after Landlord gives such revised Tax Statement to Tenant. 
 (2) If the
Assessed Valuation for the Base Tax Year is increased at any time after the date that Landlord gives a Tax Statement to Tenant for a Tax Year, then Landlord shall give to Tenant a revised Tax Statement that recalculates the Tax Payment for a Tax
Year (using the Taxes that reflect such increase in such Assessed Valuation). Landlord shall credit against the Rental thereafter coming due hereunder an amount equal to Tenant’s overpayment of the Tax Payment (calculated as aforesaid using
such increased Assessed Valuation). If (x) Tenant is entitled to a credit against Rental pursuant to this Section 2.7(C)(2), and (y) the Expiration Date occurs prior to the date that such credit is exhausted, then Landlord shall pay
to Tenant the unused portion of such credit on or prior to the thirtieth (30th) day after the Expiration Date (and Landlord’s obligation to make such payment shall survive the Expiration Date). If (i) such increase in such Assessed
Valuation occurs after the Expiration Date, and (ii) Tenant is entitled to a credit against Rental as contemplated by this Section 2.7(C)(2), then Landlord shall pay to Tenant an amount equal to such credit within thirty (30) days
after the date that such increase in such Assessed Valuation occurs (and Landlord’s obligation to make such payment shall survive the Expiration Date). 

  
 20 

 2.8. Building Additions. 

(A) If Landlord makes improvements to the Building to expand the Rentable Area thereof, then, with respect to the period from and after the
date that Taxes are assessed on the Building to reflect such improvements, (I) Tenant’s Tax Share shall be recalculated as of the date that Taxes are so assessed as the quotient (expressed as a percentage) that is obtained by dividing
(x) the number of square feet of Rentable Area in the Premises, by (y) the number of square feet of Rentable Area in the Building (after taking into account such expansion of the Rentable Area thereof) and (II) Base Taxes shall be an
amount equal to the product obtained by multiplying (x) Base Taxes immediately prior to the date that Taxes are assessed on the Building to reflect such improvements, by (y) a fraction, the numerator of which is the Taxes that are assessed
against the Building (after taking such improvements into account), and the denominator of which is the Taxes that are assessed against the Building (before taking such improvements into account). 

(B) If Landlord makes improvements to the Building to expand the Rentable Area thereof, then, with respect to the period from and after the
date that such improvements are Substantially Completed, (I) Tenant’s Operating Expense Share shall be recalculated as of the date that such improvements are Substantially Completed as the quotient (expressed as a percentage) that is
obtained by dividing (x) the number of square feet of Rentable Area in the Premises, by (y) the number of square feet of Rentable Area in the Building (other than any retail portion thereof) (after taking such expansion into account) and
(II) Base Operating Expenses shall be deemed to be an amount equal to the product obtained by multiplying (x) Base Operating Expenses prior to the date that such improvements are Substantially Completed, by (y) a fraction, the
numerator of which is the Operating Expenses for the Building (after such improvements are Substantially Completed), and the denominator of which is the Operating Expenses for the Building (prior to such improvements being Substantially Completed).

 Article 3 
 USE 

3.1. Permitted Use. 
 (A)
Subject to Section 3.2 hereof, Tenant shall use the Premises, and Tenant shall cause any other Person claiming by, through or under Tenant to use the Premises, in either case only as general, administrative and executive offices and for uses
reasonably incidental thereto. 
 (B) Landlord acknowledges that the following items qualify as uses that are incidental to Tenant’s
use of the Premises as general, administrative and executive offices (provided that Tenant’s use of the Premises for such purposes supports Tenant’s primary use of the Premises as general, administrative and executive offices): 

(1) pantries and vending machines; 

(2) conference rooms and board rooms; 

  
 21 

 (3) data processing centers; 

(4) duplicating and photographic reproduction facilities; 

(5) mailroom and messenger facilities; and 

(6) secured storage facilities for Tenant’s Property, including, without limitation, equipment, records and files. 

Nothing contained in this Section 3.1(B) impairs Tenant’s obligation to perform Alterations in accordance with the provisions of Article 7 hereof.
Landlord and Tenant acknowledge that the parties’ description of particular incidental uses in this Section 3.1(B) does not impair Tenant’s right to use the Premises for other uses that are otherwise reasonably incidental to
Tenant’s use of the Premises as general, administrative and executive offices as provided in this Section 3.1. 
 3.2.
Limitations. 
 Tenant shall not use the Premises or any part thereof, or permit the Premises or any part thereof to be used: 

(1) for the conduct of “off-the-street”
retail trade; 
 (2) by any Governmental Authority or any other Person having sovereign or diplomatic immunity (it being understood,
however, that this clause (2) shall not prohibit a Permitted Party from permitting representatives of a Governmental Authority to enter a portion of the Premises temporarily to perform audits or other similar regulatory review of such Permitted
Party’s business); 
 (3) for the sale, storage, preparation, service or consumption of food or beverages in any manner whatsoever
(except that a Permitted Party has the right to store, prepare, and serve food and beverages, by any reasonable means (including, without limitation, by means of customary vending machines), for consumption by such Permitted Party’s personnel
and business guests in the Premises); 
 (4) as an employment agency, executive search firm or similar enterprise, labor union, school, or
vocational training center (except for the training of employees of a Permitted Party who are employed at the Premises); 
 (5) for any
pornographic or obscene purpose, any commercial sex establishment, any pornographic, obscene, nude or semi-nude performances, modeling or sexual conduct of any kind; 

(6) for gaming or gambling; or 

(7) for an office sharing or co-working business, subject to Section 17.10 hereof. 

  
 22 

 3.3. Rules. 

Subject to the terms of this Section 3.3, Tenant shall comply with, and Tenant shall cause any other Person claiming by, through or under
Tenant to comply with, the rules set forth in Exhibit “3.3” attached hereto and made a part hereof, and other reasonable rules that Landlord hereafter adopts from time to time on reasonable advance notice to
Tenant, including, without limitation, rules that govern the performance of Alterations (such rules that are attached hereto, and such other rules, being collectively referred to herein as the “Rules”). Landlord shall not have any
obligation to enforce the Rules or the terms of any other lease against any other tenant, and Landlord shall not be liable to Tenant for violation thereof by any other tenant. Landlord shall not enforce any Rule against Tenant (i) that Landlord
is not then enforcing against all other office tenants in the Building, or (ii) in a manner that differs in any material respect from the manner in which Landlord is enforcing the applicable Rule against other office tenants in the Building. If
a conflict or inconsistency exists between the Rules and the provisions of the remaining portion of this Lease, then the provisions of the remaining portion of this Lease shall control. 

3.4. Promotional Displays. 

Tenant shall not have the right to use any window in the Premises for any sign or other display that is designed principally for advertising or
promotion. Tenant shall have the right to install, subject to the terms of Article 7 hereof, signage and branding in the Premises (including, if applicable the elevator lobby portion thereof) that is not visible from the exterior of the Building,
without notice to Landlord. 
 3.5. Wireless Internet Service. 

Subject to the terms of this Section 3.5, Tenant shall have the right to install wireless systems in the Premises, including, without
limitation, wireless systems that enable users to access the Internet or cellular telephone systems. Tenant shall not solicit other occupants of the Building to use wireless services that emanate from the Premises. Tenant shall not permit the
signals of Tenant’s wireless systems (if any) to emanate beyond the Premises in a manner that interferes in any material respect with any Building Systems or with any other occupant’s use of other portions of the Building. Tenant shall
operate Tenant’s wireless systems (if any) in accordance with applicable Requirements. Tenant acknowledges that Landlord may establish Rules in accordance with Section 3.3 hereof to coordinate the use of wireless systems by occupants of
the Building (it being understood that such Rules may allocate radio frequencies among occupants of the Building to the extent permitted by applicable Requirements and to the extent reasonably practicable). Tenant shall provide to Landlord from time
to time, reasonably promptly after Landlord’s request, a description of technical specifications of the wireless systems (if any) that Tenant uses in the Premises. Nothing contained in this Section 3.5 diminishes Tenant’s obligation
to perform Alterations in accordance with the provisions of Article 7 hereof. 

  
 23 

 3.6. Telecommunications. 

Landlord shall permit Tenant to gain access to the facilities of the telecommunications provider that services the Building from time to time
through the telecommunication closet on the floor of the Building where the Premises is located (it being understood that Landlord’s granting such access to Tenant shall not constitute Landlord’s agreement to provide telecommunications
services to Tenant or to otherwise have responsibility for the operation or security thereof). 
 3.7. Risers. 

Subject to the terms of this Section 3.7, Landlord hereby consents to Tenant’s installing and maintaining electrical lines,
telecommunications lines, or other similar lines, ducts, and conduits (collectively, the “Risers”) in the shaft locations reasonably designated by Landlord. Tenant acknowledges that the aforesaid shaft locations are not for
Tenant’s exclusive use (and, accordingly, such shafts may be used by Landlord or other tenants or occupants of the Building for the installation of the Risers). Landlord shall provide Tenant with reasonably necessary access in accordance with
good construction practice for the installation, operation and maintenance of the Risers, provided that such access shall (i) not unreasonably interfere with or interrupt the operation and maintenance of the Building, and (ii) be upon such
other terms reasonably designated by Landlord. If Tenant exercises Tenant’s aforesaid right to install the Risers as provided in this Section 3.7, Tenant shall install the Risers at Tenant’s expense. Tenant shall perform such
installation in accordance with the provisions of this Lease, including, without limitation, the provisions pertaining to the performance of Alterations. If Tenant exercises Tenant’s right to install the Risers as contemplated by this
Section 3.7, then Tenant, at Tenant’s expense, shall maintain the Risers in good condition during the Term (provided that Landlord gives Tenant reasonable access thereto). Landlord, at Landlord’s cost and expense and at no cost to
Tenant, and upon reasonable prior notice to Tenant of not less than ninety (90) days, may, at any time and from time to time during the Term, relocate any of the Risers; provided, however, that (i) Landlord shall perform such relocation in
a manner that does not interfere with the operation of Tenant’s business during ordinary business hours on Business Days, (ii) if Landlord’s aforesaid relocation of any Risers would interfere in any respect with a system that Tenant
uses for the conduct of Tenant’s business, then Landlord, prior to removing such Risers, shall install and make operative new Risers and cooperate with Tenant to enable Tenant to maintain the continuous operation of such systems,
(iii) Landlord shall not have the right to so relocate the Risers unless Landlord makes a reasonable determination that such relocation is reasonably necessary for the operation of the Building or Landlord’s leasing of space to tenants
therein, and (iv) Landlord shall not have the right to relocate the Risers unless the new location of the Risers is reasonably approved by Tenant, which approval Tenant shall not unreasonably withhold, condition or delay. Tenant, upon the
Expiration Date, shall not be required to remove the Risers. 

  
 24 

 Article 4 

SERVICES 
 4.1. Certain
Definitions. 
 (A) The term “Building Hours” shall mean the period from 8:00 am to 6:00 pm on Business Days; provided,
however, with respect to the HVAC Systems only, the term “Building Hours” shall mean, collectively, the period from 8:00 am to 8:00 pm on Business Days and the period from 9:00 am to 1:00 pm on Saturdays that are not Holidays. 

(B) The term “Building Systems” shall mean the service systems of the Building, including, without limitation, the
mechanical, gas, steam, electrical, sanitary, HVAC, elevator, plumbing, and life-safety systems of the Building (it being understood that the Building Systems shall not include any systems that Tenant installs in the Premises as an Alteration). 

(C) The term “HVAC” shall mean heat, ventilation and air-conditioning. 

(D) The term “HVAC Systems” shall mean the Building Systems that provide HVAC. 

(E) The term “Overtime Periods” shall mean any times that do not constitute Building Hours; provided, however, that the
Overtime Periods for the freight elevator shall also include the lunch period of the personnel who operate the freight elevator or the related loading facility. 

4.2. Elevator Service. 

(A) Subject to the terms of Section 9.6(C) hereof, Article 10 hereof and this Section 4.2, Landlord shall provide Tenant with
passenger elevator service for the Premises using the Building Systems therefor. Tenant’s use of the passenger elevators shall be in common with other occupants of the Building. Tenant shall have the use of the passenger elevators that service
the Premises at all times, except that Landlord, during Overtime Periods, shall have the right to limit reasonably the passenger elevators that Landlord makes available to service the Premises (provided that there is available to Tenant on a non-exclusive basis at all times at least one (1) passenger elevator that services the Premises). Tenant shall use the passenger elevators only for purposes of transporting persons to and from the Premises.

 (B) Subject to the terms of Section 9.6(C) hereof, Article 10 hereof and this Section 4.2, Landlord shall provide Tenant with
freight elevator service for the Premises using the Building Systems therefor. Tenant’s use of the freight elevator shall be in common with other occupants of the Building. Landlord shall have the right to prescribe reasonable rules from time
to time regarding the rights of the occupants in the Building (including, without limitation, Tenant) to use the freight elevator (governing, for example, the responsibility of occupants of the Building to reserve freight elevator use in advance,
particularly for Overtime Periods). Tenant shall use the freight elevator in accordance with applicable Requirements. If Tenant uses the freight elevator during Overtime Periods, then Tenant shall pay to Landlord, as additional rent, an amount
calculated at the reasonable hourly rates that Landlord charges from time to 

  
 25 

 
time therefor, within thirty (30) days after Landlord’s giving to Tenant an invoice therefor; provided, however, that Tenant shall not be required to pay for the first twenty
(20) hours of Tenant’s overtime use of the freight elevator only for Tenant’s initial move into the Premises or Tenant’s performance of the Initial Alterations (but not for purposes associated with the ordinary conduct of
Tenant’s business). Landlord shall have the right to charge Tenant for a particular minimum number of hours of usage of the freight elevator during Overtime Periods to the extent that the applicable union contract or service contract requires
Landlord to engage the necessary personnel (including, without limitation, a freight elevator operator and loading dock attendant) for such minimum number of overtime hours. If (x) Tenant requests Landlord to provide Tenant with freight
elevator service during Overtime Periods as provided in this Section 4.2(B), and (y) another tenant in the Building also uses, or other tenants in the Building also use, the applicable freight elevator during such Overtime Period, then
Landlord shall allocate equitably the charges described in this Section 4.2(B) among Tenant and such other tenant or tenants. 
 4.3.
Heat, Ventilation and Air-Conditioning. 
 (A) Subject to the terms of Article 10 hereof and
this Section 4.3, Landlord shall operate the HVAC System to provide HVAC at the perimeter of the Premises. Landlord shall not be required to make any installations in the Premises to distribute HVAC within the Premises. Landlord shall not be
required to repair or maintain during the Term (i) any installations that exist in the Premises on the Commencement Date that distribute within the Premises HVAC that the HVAC System provides, or (ii) any system that is located in the
Premises on the Commencement Date that provides supplemental HVAC for the Premises (in addition to the HVAC provided by the HVAC System). Tenant shall keep closed the curtains, blinds, shades or screens that Tenant installs on the windows of the
Premises in accordance with the terms hereof to the extent reasonably necessary to reduce the interference of direct sunlight with the operation of the HVAC System. 

(B) Landlord shall operate the HVAC System for Tenant’s benefit during Overtime Periods if Tenant so advises Landlord not later than 2:00
pm on the Business Day immediately preceding the day on which Tenant requires HVAC during Overtime Periods. If Landlord so provides HVAC to the Premises during Overtime Periods (as so requested by Tenant), then Tenant shall pay to Landlord, as
additional rent, an amount calculated at the reasonable hourly rates that Landlord charges Tenant from time to time therefor, within thirty (30) days after Landlord gives to Tenant an invoice therefor. Landlord’s reasonable hourly rate
therefor, as of the date hereof, is $800 with a four (4) hour minimum unless contiguous to Building Hours. Landlord shall have the right to charge Tenant for a particular minimum number of hours of usage of the HVAC System during Overtime
Periods to the extent that the applicable union contract or service contract requires Landlord to engage the necessary personnel (including, without limitation, a building engineer) for such minimum number of overtime hours. 

  
 26 

 4.4. Cleaning. 

(A) Subject to the terms of Article 10 hereof and this Section 4.4, Landlord shall cause the Premises to be cleaned substantially in
accordance with the standards set forth in Exhibit “4.4” attached hereto and made a part hereof. Landlord shall not be required to clean the portions of the Premises (if any) (x) that Tenant uses for the storage, preparation,
service or consumption of food or beverages, (y) in which Tenant is performing Alterations, or (z) in which the interior installation has been demolished in all material respects. Tenant shall pay to Landlord, as additional rent, the
reasonable costs incurred by Landlord in removing from the Building any of Tenant’s refuse and rubbish to the extent exceeding the amount of refuse and rubbish usually generated by a tenant that uses the Premises for ordinary office purposes.
Tenant shall make such payments to Landlord not later than the thirtieth (30th) day after the date that Landlord gives to Tenant an invoice therefor from time to time. 

(B) Tenant, at Tenant’s expense, shall exterminate the portions of the Premises that Tenant uses for the storage, preparation, service or
consumption of food against infestation by insects and vermin regularly and, in addition, whenever there is evidence of infestation. Tenant shall engage Persons to perform such exterminating that are approved by Landlord, which approval Landlord
shall not unreasonably withhold, condition or delay. Tenant shall cause such Persons to perform such exterminating in a manner that is reasonably satisfactory to Landlord. 

(C) Tenant, at Tenant’s expense, shall clean daily all portions of the Premises used for the storage, preparation, service or consumption
of food or beverages. Tenant shall not have the right to perform any cleaning services (or any other similar facilities management services such as, for example, matron services or handyman services) in the Premises using any Person other than the
cleaning contractor that Landlord has engaged from time to time to perform cleaning services in the Building for Landlord; provided, however, that (x) Landlord shall not have the right to require Tenant to use such cleaning contractor unless
the rates that such cleaning contractor agrees to charge Tenant for such additional cleaning services are commercially reasonable, and (y) subject to Section 4.9 hereof, Tenant shall have the right to use Tenant’s own employees for
such additional cleaning services. If such cleaning contractor does not agree to charge Tenant for such additional cleaning services (or such similar services) at commercially reasonable rates, then Tenant may employ to perform such additional
cleaning services (or such similar services) another cleaning contractor that Landlord approves, which approval Landlord shall not unreasonably withhold, condition or delay. 

(D) Tenant shall comply with any refuse disposal program (including, without limitation, any waste recycling program) that Landlord imposes
reasonably after having given Tenant reasonable advance notice of the effectiveness thereof or that is required by Requirements. 
 (E)
Tenant shall not clean any window in the Premises, nor require, permit, suffer or allow any window in the Premises to be cleaned, in either case from the outside in violation of Section 202 of the New York Labor Law, any other Requirement, or
the rules of the Board of Standards and Appeals, or of any other board or body having or asserting jurisdiction. 

  
 27 

 4.5. Water. 

Landlord shall provide to the lavatories located in the portion of the Premises that is within the core of the Building hot and cold water only
for ordinary drinking, cleaning and lavatory purposes. Landlord shall also provide, through the Building Systems, hot and cold water at one (1) connection point at the perimeter of the Premises only for ordinary drinking, pantry, cleaning and
lavatory purposes. Landlord shall not be required to make any installations in the Premises to distribute water within the Premises; provided, however, that Landlord shall leave in place any installations that distribute water in the Premises
existing on the date hereof, and Tenant agrees to accept the Premises with such installations in place in their “as-is” condition and state of repair on the Commencement Date. Subject to
Section 8.3(B) hereof, Landlord shall not be required to repair or maintain during the Term any installations that exist in the Premises on the Commencement Date that distribute water in the Premises. Nothing contained in this Section 4.5
limits the provisions of Article 10 hereof 
 4.6. Directory. 

Tenant acknowledges that Landlord has not installed a directory for the Building in the lobby thereof. If Landlord hereafter installs any such
directory in the lobby of the Building for the purpose of listing the tenants of the Building generally, then Landlord shall make available for Tenant’s use Tenant’s Operating Expense Share of listings on the lobby directory for the
Building for purposes of listing the names of the personnel of Permitted Parties. If Landlord so installs such directory, then Landlord shall modify such directory to add or delete names of the personnel of Permitted Parties promptly after
Tenant’s request from time to time, except that Tenant shall not have the right to make any such request more frequently than once in any particular period of ninety (90) days. Tenant shall pay to Landlord, as additional rent, a reasonable
charge for any such modifications requested by Tenant, within thirty (30) days after the date that Landlord gives to Tenant an invoice therefor (it being understood that Tenant shall not be required to pay such charge for Tenant’s initial
listings on such directory). 
 4.7. Condenser Water. 

Subject to the terms of Article 10 hereof and this Section 4.7, Tenant, at Tenant’s expense and, at Tenant’s election, may tap
into the applicable Building System to obtain condenser water for a supplemental air-conditioning system that Tenant installs within one hundred eighty (180) days after the Commencement Date as part of
the Initial Alterations in accordance with the provisions of Article 7 hereof. Tenant shall notify Landlord within forty-five (45) days after the date hereof of the capacity of the supplemental
air-conditioning system that Tenant shall be installing as part of the Initial Alterations (the “Requested Condenser Water Capacity”; provided, however, any such Requested Condenser Water
Capacity shall not be more than five (5) tons. Any such supplemental air-conditioning system that Tenant installs as part of the Initial Alterations shall not have a capacity of more than the Requested
Condenser Water Capacity. Tenant’s rights to use such Requested Condenser Water Capacity under this Section 4.7 shall lapse on the date that shall be one hundred eighty (180) days after the Commencement Date to the extent of any
unused portion of the aforesaid Requested Condenser Water Capacity that Landlord has made available to Tenant for a supplemental air-conditioning system that Tenant installs as part of the Initial Alterations.
Any installations that are required to connect Tenant’s supplemental air-conditioning system to the condenser water pipes shall be made by Landlord (based on the plans and specifications therefor as
designed by Tenant and approved by Landlord as contemplated by Article 7 hereof). Tenant shall pay to Landlord, as additional rent: 
 (A)
the reasonable Out-of-Pocket Costs that Landlord incurs in making such connection (but no so called “tap-in
fee”); and 

  
 28 

 (B) an annual charge in the amount of Six Hundred Dollars and No Cents ($600.00) per ton of
capacity of the system so connected (which amount per ton shall be increased on each anniversary of the Commencement Date to reflect the percentage increase, if any, in the Consumer Price Index from the Consumer Price Index that is in effect on the
Commencement Date). 
 Tenant shall pay such amounts to Landlord on or prior to the thirtieth (30th) day after the date that Landlord gives
to Tenant an invoice therefor from time to time. 
 4.8. No Other Services. 

Landlord shall not be required to provide any services to support Tenant’s use and occupancy of the Premises, except to the extent
expressly set forth herein. 
 4.9. Labor Harmony. 

If (i) Tenant employs, or permits the employment of, any contractor, mechanic or laborer in the Premises, whether in connection with any
Alteration or otherwise, (ii) such employment interferes or causes any conflict with other contractors, mechanics or laborers engaged in the maintenance, repair, management or operation of the Building or any adjacent property owned or managed
by Landlord, and (iii) Landlord gives Tenant notice thereof (which notice may be given verbally to the person employed by Tenant with whom Landlord’s representative ordinarily discusses matters relating to the Premises), then Tenant shall
cause all contractors, mechanics or laborers causing such interference or conflict to leave the Building promptly and shall take such other action as may be reasonably necessary to resolve such conflict. 

4.10. Building Security. 

Subject to the terms of this Section 4.10, Landlord shall provide security services to or security systems in the Building in conformity
with the standards that are customary for first-class office buildings that are comparable to the Building in the vicinity of the Building. Tenant acknowledges and agrees that (x) Landlord, in agreeing to provide such services or systems, does
not ensure the security of the Building, and (y) accordingly, Tenant remains responsible for making Alterations in, and adopting, procedures for the Premises that Tenant considers adequate to provide for Tenant’s security. 

Article 5 
 ELECTRICITY 

5.1. Capacity. 
 Subject
to the terms of this Article 5, Landlord shall provide to the electrical closet on the floor of the Building where the Premises is located, for Tenant’s use, six and 0/100 (6) watts of electrical capacity (demand load) per square foot of Usable
Area in the Premises (exclusive of the electrical capacity that is required to operate the Building Systems) (such electrical capacity being referred to herein as the “Base Electrical Capacity”). Tenant, during the Term, shall use
electricity in the Premises only in such manner that complies with the requirements of the Utility Company. Tenant shall not permit the demand for electricity in the Premises to exceed the Base Electrical Capacity. 

  
 29 

 5.2. Electricity for the Building. 

Landlord shall arrange with a Utility Company to provide electricity for the Building. Landlord shall not be liable to Tenant for any failure
or defect in the supply or character of electricity furnished to the Building, except to the extent that such failure or defect results from Landlord’s negligence or willful misconduct. Landlord shall not be required to make any installations
in the Premises to distribute electricity within the Premises; provided, however, that Landlord shall leave in place any installations that distribute electricity in the Premises existing in the Premises on the date hereof, and Tenant agrees to
accept the Premises with such installations in place in their “as-is” condition and state of repair on the Commencement Date. Subject to Section 8.3(B) hereof, Landlord shall not be required to
maintain or repair during the Term any installations that exist in the Premises on the Commencement Date that distribute electricity within the Premises. 

5.3. Submetering. 
 (A)
Subject to the provisions of this Section 5.3, Landlord shall measure Tenant’s demand for and consumption of electricity in the Premises using a submeter that is, or submeters that are, installed and maintained by Landlord. Landlord shall
pay the cost of installing such submeter or submeters. If, at any time during the Term, Tenant performs Alterations that require modifications to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or
supplemental submeters, then Landlord shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, and Tenant shall reimburse Landlord for such costs, as additional rent, within twenty
(20) days following receipt of Landlord’s invoice therefor. 
 (B) Tenant shall pay to Landlord, as additional rent, an amount
(the “Electricity Additional Rent”) equal to one hundred three percent (103%) of the sum of: 
 (1) the product obtained by
multiplying (x) the Average Cost per Peak Demand Kilowatt, by (y) the number of kilowatts that constituted the peak demand for electricity in the Premises for the applicable billing period, as registered on the submeter or submeters for
the Premises, and 
 (2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt
hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises. 

  
 30 

 (C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to
time (but no less frequently than quarter-annually). Tenant shall pay the Electricity Additional Rent to Landlord on or prior to the thirtieth (30th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right
to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the ninetieth (90th) day after the date that Landlord gives Tenant the applicable invoice for the
Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and
Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to
Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding. 

(D) If a submeter measuring Tenant’s electrical demand and consumption in the Premises has not been installed in the Premises, or the
submeters measuring Tenant’s electrical demand and consumption in the Premises have not been installed in the Premises, in either case on or prior to the date hereof, then (x) Landlord shall order such submeter or such submeters promptly
after the date hereof, and (y) Landlord shall install such submeter or such submeters promptly after the Commencement Date. Landlord and Tenant shall cooperate with each other in good faith to coordinate the installation of such submeter or
such submeters with Tenant’s performance of the Initial Alterations. Landlord, in installing such submeter or such submeters, shall have the right to interrupt electrical service to the Premises temporarily and in accordance with good
construction practice. 
 (E) Subject to the terms of this Section 5.3(E), if, prior to Landlord’s installing a submeter or the
submeters in the Premises or prior to the date that such submeter or submeters are operational, Tenant commences the performance of the Initial Alterations, then Tenant shall pay to Landlord, as additional rent, a fee for electricity service in an
amount equal to the product obtained by multiplying (I) $0.0041, by (II) the number of square feet of Rentable Area in the Premises (or the portion thereof in which Tenant is performing the Initial Alterations), by (III) the number of days
in the period commencing on the date that Tenant so commences the Initial Alterations and ending on the earlier of (a) the date immediately preceding the date that Tenant first occupies the Premises (or the applicable portion thereof) for the
conduct of business, and (b) the date immediately preceding the date that the submeter for the Premises (or the applicable portion thereof) is operational or the submeters for the Premises (or the applicable portion thereof) are operational.
Landlord shall give Tenant an invoice for the aforesaid fee from time to time (but not less frequently than monthly). Tenant shall pay the aforesaid fee to Landlord on or prior to the thirtieth (30th) day after the date that Landlord gives each such
invoice to Tenant. 
 (F) Subject to the terms of this Section 5.3(F), if, prior to Landlord’s installing a submeter or submeters
in the Premises or prior to the date that such submeter or submeters are operational, Tenant occupies all or any portion of the Premises for the conduct of business, then Tenant shall pay to Landlord, as additional rent, a fee for electricity
service in an amount equal to the product obtained by multiplying (I) $0.0048 (which amount shall be increased on each anniversary of the Commencement Date to reflect the percentage increase, if any, in the Consumer Price Index from the Consumer
Price Index that is in effect on Commencement Date), by (II) the number of square feet of Rentable Area in the Premises (or the portion thereof that Tenant is occupying for the conduct of business), by (III) the number of days in the
period 

  
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commencing on the date that Tenant occupies the Premises (or the applicable portion thereof) for the conduct of business and ending on the date immediately preceding the date that the submeter
for the Premises or the applicable portion thereof is operational or that the submeters for the Premises or the applicable portion thereof are operational (such fee being referred to herein as the “Electricity Inclusion Charge”).
Landlord shall give Tenant an invoice for the Electricity Inclusion Charge from time to time (but not less frequently than monthly). Tenant shall pay the Electricity Inclusion Charge to Landlord on or prior to the thirtieth (30th) day after the date
that Landlord gives each such invoice to Tenant. If (I) the monthly amount that Tenant would have paid to Landlord as the Electricity Additional Rent for the period that Tenant occupies the Premises or the applicable portion thereof for the
conduct of business prior to the date that the submeter is, or the submeters are, operational (as determined using the average monthly submeter readings for the period of three (3) months after the date that the submeter is, or the submeters
are, operational), exceeds (II) the Electricity Inclusion Charge for any particular period of one (1) month, then Tenant shall pay to Landlord an amount equal to such excess for each such month within thirty (30) days after Landlord
gives to Tenant an invoice therefor. If (I) the Electricity Inclusion Charge for any particular period of one (1) month, exceeds (II) the monthly amount that Tenant would have paid to Landlord as the Electricity Additional Rent for
the period that Tenant occupies the Premises or the applicable portion thereof for the conduct of business prior to the date that the submeter is, or the submeters are, operational (as determined using the average monthly submeter readings for the
period of three (3) months after the date that the submeter is, or the submeters are, operational), then Landlord, at Landlord’s option, shall either (x) refund promptly to Tenant an amount equal to such excess for each such month, or
(y) credit such excess for each such month against the monthly installments of Rental next becoming due and payable hereunder (together with interest on such excess calculated at the Base Rate from the date that Tenant is entitled to such
credit). If Landlord gives Tenant such credit for such excess, and the Expiration Date occurs before the date that such credit is exhausted, then Landlord shall pay to Tenant the unused portion of such credit on or prior to the thirtieth (30th) day
after the Expiration Date (and Landlord’s obligation to make such payment shall survive the Expiration Date). 
 5.4. Termination of
Electric Service. 
 (A) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as
contemplated by this Lease, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish
electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5. 

(B) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use
Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that
then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.4 shall permit Tenant to use electrical capacity in
the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company. 

  
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 (C) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by
this Section 5.4 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company. 

Article 6 
 INITIAL CONDITION OF
THE PREMISES 
 6.1. Condition of Premises. 

Subject to Section 8.1 hereof and Section 6.2 hereof, (a) Tenant shall accept possession of the Premises on the Commencement
Date broom clean, with Landlord’s Work Substantially Complete and otherwise in the “as is” condition that exists on the date hereof, reasonable wear and tear, effects of casualty or condemnation and any other damage or condition
resulting from Tenant’s access to the Premises during the Early Access Period excepted, and (b) Landlord shall have no obligation to perform any work or make any installations in order to prepare the Building or the Premises for
Tenant’s occupancy. Except as expressly set forth herein, Landlord has made no representations or promises with respect to the Building, the Real Property or the Premises. Landlord covenants and agrees that on the Commencement Date, the
Building Systems serving the Premises shall be in good working order. Nothing contained in this Section 6.1 is intended to relieve Landlord of any of its repair, maintenance or cleaning obligations under this Lease. 

6.2. Landlord’s Work. 

(A) Subject to this Section 6.2, Landlord shall, at Landlord’s expense, paint the Premises using a Building standard color and
quality of paint; it being agreed that Tenant shall have the opportunity to select the color of such Building standard paint by advising Landlord thereof within sixteen (16) Business Days from the date hereof and, in the event that Tenant shall
fail to make such selection within such period, then Landlord shall select the color thereof (such work being referred to herein as “Landlord’s Work”). Notwithstanding the foregoing, Tenant shall have the option
during such sixteen (16) Business Day period to select a non-Building standard color and quality of paint, provided that (i) such non-Building standard color
and quality of paint (x) shall be reasonably acceptable to Landlord and (y) shall not delay Landlord’s construction schedule and/or the performance of Landlord’s Work and (ii) Tenant shall pay to Landlord the incremental
costs associated with such non-Building standard color and quality of paint in excess of the Building standard color and quality of paint within five (5) Business Days after the date that Landlord gives
to Tenant an invoice therefor. If Tenant shall select a non-Building standard color and quality of paint during such sixteen (16) Business Day period, and Landlord shall give Tenant notice that the same
does not comply with the requirements set forth in clauses (i) and (ii) hereof, then Tenant shall select a Building standard color and quality of paint within one (1) Business Day after the date that Landlord gives Tenant such notice, and,
in the event that Tenant shall fail to make such selection within such period, then Landlord shall select the color thereof. Landlord shall perform Landlord’s Work (a) in 

  
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accordance with all applicable Requirements and (b) in a good and workmanlike manner. For the avoidance of doubt, Tenant shall not be responsible for the cost of Landlord’s Work, except
for any incremental costs set forth in Section 6.2(A)(ii) hereof. Landlord shall perform Landlord’s Work with reasonable diligence from and after the date hereof (to the extent that Landlord has not theretofore Substantially Completed
Landlord’s Work). 
 (B) Landlord shall have the right to delegate Landlord’s obligations to perform all or any portion of
Landlord’s Work to an Affiliate of Landlord (it being understood, however, that Landlord’s delegating such obligations to an Affiliate of Landlord shall not diminish Landlord’s liability for the performance of Landlord’s Work in
accordance with the terms of this Section 6.2). Except as otherwise expressly set forth in this Lease, Landlord shall not be required to maintain or repair during the Term any items of Landlord’s Work. 

6.3. Early Access. 

Notwithstanding anything to the contrary contained herein, if, and to the extent permitted by applicable Requirements and subject to the
rights of any existing tenant and/or any limitations imposed upon Landlord under any then existing lease for the Premises or otherwise, Tenant shall have the right to enter the Premises prior to the Commencement Date, at times to be coordinated in
advance with Landlord and the property management team for the Building based upon the construction schedule for Landlord’s Work, solely for the purposes of inspecting the Premises, taking measurements for the preparation of the plans and
specifications for the Initial Alterations, performing the Initial Alterations consisting of the installation of Tenant’s telecommunications and data wiring and other IT installations within the Premises and planning for Tenant’s Property
to be installed therein, provided that during said period (the “Early Access Period”) (i) Tenant shall comply with all terms and conditions of this Lease (other than the payment of Fixed Rent, Escalation Rent and Electricity
Additional Rent), (ii) Tenant shall not have the right to enter the Premises as aforesaid unless Tenant is accompanied by a designated representative of Landlord at all times during such entry (it being agreed that Landlord shall use commercially
reasonable efforts to provide a designated representative to accompany Tenant as contemplated herein), (iii) Tenant shall coordinate the timing and scheduling of the aforesaid entry so as not to (x) interfere with the operation of the Building
or the performance of Landlord’s Work, or (y) delay the completion of Landlord’s Work and (iv) Tenant shall not begin operation of its business in the Premises. 

Article 7 
 ALTERATIONS 

7.1. General. 
 (A)
Except as otherwise provided in this Article 7, Tenant shall not make any Alterations without Landlord’s prior consent. 
 (B) Tenant
may make Decorative Alterations without Landlord’s prior consent. 

  
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 (C) The term “Alterations” shall mean alterations, installations,
improvements, additions or other physical changes in each case in or to the Premises that are made by or on behalf of Tenant or any other Person claiming by, through or under Tenant; provided, however, that Alterations shall not include
Landlord’s Work. 
 (D) The term “Decorative Alterations” shall mean Alterations that constitute merely decorative
changes to the Premises (such as, for example, the installation of carpeting or other customary floor coverings or painting or the installation of customary wall coverings) that in each case do not involve electrical, plumbing or mechanical
connections. 
 (E) The term “Initial Alterations” shall mean the Alterations to prepare the Premises for Tenant’s
initial occupancy. 
 (F) The term “Specialty Alterations” shall mean Alterations performed by or on behalf of Tenant that
(i) perforate a floor slab in the Premises or a wall that encloses the core of the Building, (ii) require the reinforcement of a floor slab in the Premises, (iii) consist of the installation of a raised flooring system,
(iv) consist of the installation of a vault or other similar device or system that is intended to secure the Premises or a portion thereof in a manner that exceeds the level of security that a reasonable Person uses for ordinary office space,
or (v) involve material plumbing connections (such as kitchens and executive bathrooms outside of the Building core). 
 (G) The term
“Substantial Completion” or words of similar import shall mean that the applicable work has been substantially completed in accordance with the applicable plans and specifications, if any, it being agreed that (i) such work
shall be deemed substantially complete notwithstanding the fact that minor or insubstantial details of construction or demolition, mechanical adjustment or decorative items remain to be performed, and (ii) with respect to work that is being
performed in the Premises, such work shall be deemed substantially complete only if the incomplete elements thereof do not interfere materially with Tenant’s use and occupancy of the Premises for the conduct of business. 

(H) The term “Tenant’s Property” shall mean Tenant’s personal property (other than fixtures),
including, without limitation, Tenant’s movable fixtures, movable partitions, telephone equipment, computer equipment, furniture, furnishings and decorations. 

7.2. Basic Alterations and Minor Alterations. 

(A) Landlord shall not unreasonably withhold, condition or delay its consent to any proposed Alteration, provided that such Alteration
(i) does not materially affect the external aesthetic appearance of the Building at street level, (ii) does not affect adversely any part of the Building other than the Premises, (iii) does not require any alterations, installations,
improvements, additions or other physical changes to be performed in or made to any portion of the Building other than the Premises, (iv) does not affect adversely the proper functioning of any Building System, (v) does not reduce the
value or utility of the Building, (vi) does not affect adversely the structure of the Building, (vii) does not impede Landlord’s access to Reserved Areas in any material respect, and (viii) does not violate or render invalid the
certificate of occupancy for the Building or any part thereof (any Alteration that satisfies the requirements described in clauses (i) through (viii) above being referred to herein as a “Basic Alteration”). 

  
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 (B) Tenant shall not be required to obtain Landlord’s prior consent to a particular
Basic Alteration if the sum of (X) the “hard” construction cost of such Basic Alteration, and (Y) the “hard” construction cost of any other Basic Alterations performed during the immediately preceding period of twelve
(12) months without Landlord’s consent as contemplated by this Section 7.2, does not exceed the Minor Alterations Threshold (any such Basic Alteration for which Landlord’s prior consent is not required being referred to herein as
a “Minor Alteration”). The term “Minor Alterations Threshold” shall mean One Hundred Thousand Dollars ($100,000), except that on each anniversary of the Commencement Date, the Minor Alterations Threshold shall be
adjusted to reflect the percentage increase in the Consumer Price Index from the Consumer Price Index that is in effect on the Commencement Date. Nothing contained in this Section 7.2(B) limits Tenant’s liability to Landlord if
(i) Tenant performs an Alteration without Landlord’s consent, and (ii) it is determined ultimately that such Alteration does not constitute a Minor Alteration. 

(C) Nothing contained in this Section 7.2 limits the provisions of Section 7.11 hereof. 

7.3. Approval Process. 

(A) Tenant shall not perform any Alteration (other than Decorative Alterations) unless Tenant first gives to Landlord a notice thereof (an
“Alterations Notice”) that (i) refers specifically to this Section 7.3, (ii) includes six (6) copies of the plans and specifications for the proposed Alteration (including, without limitation, layout, architectural,
mechanical and structural drawings, to the extent applicable) in CADD format that contain sufficient detail for Landlord and Landlord’s consultants to reasonably assess the proposed Alteration, and (iii) indicates whether Tenant considers
the proposed Alterations to constitute a Basic Alteration, (iv) indicates whether Tenant considers the proposed Alteration to constitute a Minor Alteration and whether Tenant intends to perform the proposed Alteration without Landlord’s
consent as contemplated by this Article 7, and (v) includes with such notice a bona fide estimate issued by a reputable and independent construction company of the “hard” construction cost of performing the proposed Alteration
(if Tenant considers the proposed Alteration to constitute a Minor Alteration and plans to perform such Alteration without Landlord’s consent). 

(B) Landlord shall have the right to object to a proposed Alteration only by giving notice thereof to Tenant, and setting forth in such notice
a statement in reasonable detail of the grounds for Landlord’s objections. If Tenant shall give Landlord an Alterations Notice that states in bold and capital letters as follows: “LANDLORD’S FAILURE TO RESPOND TO THIS ALTERATIONS
NOTICE WITHIN TWENTY (20) BUSINESS DAYS (OR TEN (10) BUSINESS DAYS WITH RESPECT TO RESUBMISSIONS OF DISAPPROVED PLANS) SHALL BE DEEMED LANDLORD’S CONSENT TO THE ALTERATIONS DESCRIBED IN SUCH ALTERATIONS
NOTICE” and provided that Tenant shall give to Landlord a reminder notice at least three (3) Business Days prior to the expiration of either of the aforesaid periods, as applicable, then if Landlord shall fail to respond to any such
Alterations Notice within the aforesaid periods, as applicable, such failure to respond shall be deemed Landlord’s consent to the Alterations described in such Alterations Notice. 

  
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 (C) Landlord shall have the right to (a) disapprove any plans and specifications for a
particular Alteration in part, (b) reserve Landlord’s approval of items shown on such plans and specifications pending Landlord’s review of other plans and specifications that Tenant is otherwise required to provide to Landlord
hereunder, and (c) condition Landlord’s approval of such plans and specifications upon Tenant’s making revisions to the plans and specifications or supplying additional information (which Landlord shall have the right to request only
reasonably if the applicable Alteration constitutes a Basic Alteration). Nothing contained in this Section 7.3(C) limits the provisions of Section 7.2 hereof or Section 7.3(B) hereof. 

(D) Tenant acknowledges that (i) the review of plans or specifications for an Alteration by or on behalf of Landlord, or (ii) the
preparation of plans or specifications for an Alteration by Landlord’s architect or engineer (or any architect or engineer designated by Landlord), is solely for Landlord’s benefit, and, accordingly, Landlord makes no representation or
warranty that such plans or specifications comply with any Requirements or are otherwise adequate or correct. 
 7.4. Performance of
Alterations. 
 (A) Tenant, at Tenant’s expense, prior to the performance of any Alteration, shall obtain all permits, approvals
and certificates required by any Governmental Authorities in connection therewith. Landlord shall have the right to require Tenant to make all filings with Governmental Authorities to obtain such permits, approvals and certificates using an
expeditor designated reasonably by Landlord (provided that the charges imposed by such expeditor are commercially reasonable). Landlord shall execute any applications for any permits, approvals or certificates required to be obtained by Tenant in
connection with any permitted Alteration (provided that the applicable Requirement requires Landlord to execute such application) within ten (10) Business Days after Tenant’s request from time to time and shall otherwise cooperate
reasonably with Tenant in connection therewith. Tenant shall not have the right to require Landlord to so execute such applications prior to the date that Landlord approves the applicable Alteration. Tenant shall reimburse Landlord for any
reasonable Out-of-Pocket Costs, including, without limitation, reasonable attorneys’ fees and disbursements, that Landlord incurs in so executing such applications
and cooperating with Tenant, within thirty (30) days after the date that Landlord gives to Tenant an invoice therefor from time to time. 

(B) Prior to performing any Alteration, Tenant shall maintain on behalf of its contractors (of any tier) and vendors or cause its contractors
(of any tier) and vendors to maintain (1) worker’s compensation and disability insurance in amounts not less than the statutory limits required by Requirements (covering all persons to be employed by Tenant, and Tenant’s contractors,
subcontractors, and vendors in connection with such Alteration); (2) commercial general liability insurance (covering bodily injury including death, personal injury and property damage), in each case in customary form, and in amounts that are not
less than Five Million Dollars ($5,000,000) per occurrence and in the annual policy aggregate with 

  
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respect to general contractors and Three Million Dollars ($3,000,000) per occurrence and in the annual policy aggregate with respect to subcontractors, such policies shall be endorsed to name the
Landlord Indemnitees as additional insureds; it being understood that the foregoing insurance shall be required in addition to Tenant’s Liability Policy (the insurance described in this clause 2 is collectively referred to herein as
“Contractor’s Liability Policy”); and (3) commercial auto liability insurance, if the contractor or vendor uses a vehicle at the Real Property, covering all vehicles with a minimum combined single limit of
One Million Dollars ($1,000,000). The Contractor’s Liability Policy (including any endorsements which are a part thereof) cannot exclude coverage to the Landlord Indemnitees for claims arising out of bodily injury to a contractor’s (of any
tier) or vendor’s employees if such claim arises during the course of employment (i.e., third party claims). A contractor’s or vendor’s liability shall in no way be limited by the amount of insurance recovery or the amount of
insurance in force, or available, or required by any provisions of this Lease . The limits listed above are minimum requirements only. Tenant shall include in any agreement that Tenant consummates with a contractor or vendor in either case for a
particular Alteration, and Tenant shall cause any contractor to include in any agreement that such contractor consummates with a subcontractor regarding the applicable Alteration, a provision pursuant to which the contractor, subcontractor or vendor
agrees to indemnify the Landlord Indemnitees, and hold the Landlord Indemnitees harmless, from and against, any Claim Against Landlord that arises from any wrongful act or wrongful omission of such contractor, such subcontractor or such vendor, and
such provision shall state expressly that the Landlord Indemnitees constitute third-party beneficiaries thereof. Prior to the start of any such Alterations and prior to the expiration of any policy, Tenant shall deliver to Landlord certificates of
insurance (on a form reasonably acceptable to Landlord) along with copies of endorsements naming Landlord Indemnitees as additional insureds. The liabilities of any contractor or vendor shall survive and not be terminated, reduced or otherwise
limited by any expiration or termination of such insurance coverage. Neither approval nor failure to disapprove insurance furnished by the contractor or vendor shall relieve the contractor, its subcontractors or vendors from responsibility to
provide insurance as required herein. 
 (C) Within sixty (60) days after the Substantial Completion of each Alteration (other than
Decorative Alterations), Tenant, at Tenant’s expense, shall (1) obtain certificates of final approval for each Alteration to the extent required by any Governmental Authority, (2) furnish Landlord with copies of such certificates, and
(3) give to Landlord copies of the “as-built” plans and specifications for such Alterations in CADD format (or, if the applicable Alteration constitutes a Minor Alteration, appropriate record
drawings or shop drawings therefor). 
 (D) All Alterations (other than Decorative Alterations) shall be made and performed substantially in
accordance with the plans and specifications therefor as approved by Landlord. All Alterations shall be made and performed in accordance with all Requirements and the Rules. All materials and equipment incorporated in the Premises as a result of any
Alterations shall be first-quality. Subject to Section 7.9(C) hereof, Landlord shall not have the right under this Lease to charge Tenant a so called “supervisory fee”. 

  
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 7.5. Financial Integrity. 

(A) 
 (1) Tenant shall not
permit any materials or equipment that are incorporated as fixtures into the Premises in connection with any Alterations to be subject to any lien, encumbrance, chattel mortgage or title retention or security agreement. 

(2) Subject to the terms of Section 7.5(A)(3) hereof, Tenant shall not make any Alteration at a cost for labor and materials (as
reasonably estimated by Landlord’s architect, engineer or contractor) in excess of One Hundred Thousand Dollars ($100,000), either individually or in the aggregate with any other Alterations constructed in any particular period of twelve
(12) consecutive months, prior to Tenant’s delivering to Landlord a performance bond and a payment bond that covers Tenant’s obligation to pay the applicable contractor and the applicable contractor’s obligation to pay its
subcontractors (in either case issued by a surety company and in form reasonably satisfactory to Landlord), each in an amount equal to one hundred twenty percent (120%) of such estimated cost; provided, however, that on each anniversary of the
Commencement Date, the aforesaid amount of One Hundred Thousand Dollars ($100,000) shall be adjusted to reflect the percentage increase in the Consumer Price Index from the Consumer Price Index that is in effect on the Commencement Date. 

(3) If Tenant is obligated to deliver a performance bond and a payment bond to Landlord as provided in Section 7.5(A)(2) hereof, then
Tenant shall have the right to deposit with Landlord an amount in cash equal to the amount of such bonds that is otherwise required by Section 7.5(A)(2) hereof (such amount in cash being referred to herein as the “Work
Deposit”). If Tenant deposits the Work Deposit with Landlord, then (i) Tenant shall not have the obligation to deliver to Landlord the performance bond and the payment bond as provided in Section 7.5(A)(2) hereof for the
applicable Alteration, and (ii) Landlord shall disburse the Work Deposit (or the applicable portion thereof) to Tenant or Tenant’s designee from time to time, within ten (10) days after Tenant’s request therefor (but in no event
more frequently than once during any particular calendar month), provided that Tenant delivers to Landlord, simultaneously with each such disbursement, waivers of lien from all contractors, subcontractors, materialmen, architects, engineers and
other Persons who may file a lien against the Real Property for material theretofore supplied, or labor or services theretofore performed, in connection with the applicable Alterations. If any mechanic’s lien is filed against the Real Property
for work claimed to have been done for, or for materials claimed to have been furnished to, Tenant (or any Person claiming by, through or under Tenant), then Landlord shall have the right (but not the obligation) to use the Work Deposit to discharge
such mechanic’s lien. Nothing contained in this Section 7.5(A)(3) diminishes Tenant’s obligations under Section 7.5(A)(4) hereof. Landlord shall pay to Tenant any remaining balance of the Work Deposit for a particular Alteration
within ten (10) days after the date that (x) Tenant has Substantially Completed the applicable Alteration, and (y) Tenant has delivered to Landlord waivers of lien from all contractors, subcontractors, materialmen, architects,
engineers and other Persons who may file a lien against the Real Property in connection with such Alterations. 

  
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 (4) Tenant shall discharge of record any mechanic’s lien that is filed against the Real
Property for work claimed to have been done for, or for materials claimed to have been furnished to, Tenant (or any Person claiming by, through or under Tenant) within ten (10) days after Tenant has received notice thereof, at Tenant’s
expense, by payment or filing the bond required by law. Nothing contained in this Section 7.5(A)(4) (x) limits Tenant’s right to challenge the claim that is made by the Person that files a mechanic’s lien, provided that Tenant
discharges such lien of record as aforesaid, or (y) obligates Tenant to discharge of record any mechanic’s lien that derives from Landlord’s acts or omissions. 

(B) Subject to the terms of this Section 7.5(B), within thirty (30) days after the Substantial Completion of any Alterations (other
than Decorative Alterations), Tenant shall deliver to Landlord: (i) waivers of lien from all contractors, subcontractors, materialmen, architects, engineers and other Persons who may file a lien against the Real Property in connection with such
Alterations, and (ii) a certificate from a licensed architect that Tenant engages in accordance with the terms of this Article 7 certifying that, in his or her opinion, the Alterations have been Substantially Completed in substantial accordance
with the final detailed plans and specifications for such Alterations as approved by Landlord. Tenant shall not be required to deliver to Landlord any waiver of lien if Tenant is disputing in good faith the payment which would otherwise entitle
Tenant to such waiver, provided that (x) Tenant keeps Landlord advised in a timely fashion of the status of such dispute and the basis therefor, and (y) Tenant delivers to Landlord the waiver of lien promptly after the date that the
dispute is settled. Nothing contained in this Section 7.5(B), however, shall relieve Tenant from complying with the provisions of Section 7.5(A)(4) hereof. 

7.6. Effect on Building. 

If (i) as a result of any Alterations, any alterations, installations, improvements, additions or other physical changes are required to
be performed in or made to any portion of the Building other than the Premises in order to comply with any Requirements (any such alterations, installations, improvements, additions or changes being referred to herein as a “Building
Change”), and (ii) such Building Change would not otherwise have had to be performed or made pursuant to applicable Requirements at such time, then (x) Landlord may perform such Building Change, and (y) Tenant shall pay to
Landlord the reasonable Out-of-Pocket Costs thereof, as additional rent, within thirty (30) days after Landlord gives to Tenant an invoice therefor together with
reasonable supporting documentation for the charges set forth therein. Landlord shall seek to accomplish any such Building Change in a manner that minimizes the cost thereof to the extent reasonably practicable. Landlord shall give Tenant reasonable
advance notice of Landlord’s performance of the Building Change, and shall consult reasonably from time to time with Tenant in connection therewith (with the understanding that such consultations shall include, without limitation,
Landlord’s providing Tenant with the information that Landlord has in its possession regarding the expected cost of such Building Change). 

7.7. Time for Performance of Alterations. 

If the performance of any Alteration by or on behalf of Tenant, or any other Person claiming by, through or under Tenant, during Building
Hours interferes with or interrupts the 

  
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maintenance, repair, management or operation of the Building in any material respect or interferes with or interrupts the use and occupancy of the Building by other tenants in the Building in any
material respect, then Landlord shall have the right to require Tenant to perform such Alteration at other times that Landlord reasonably designates from time to time. 

7.8. Removal of Alterations and Tenant’s Property. 

On or prior to the Expiration Date, Tenant, at Tenant’s expense, shall remove Tenant’s Property from the Premises, and, at
Tenant’s option, Tenant also may remove, at Tenant’s expense, all Alterations made by or on behalf of Tenant or any other Person claiming by, through or under Tenant; provided, however, in any case, that Tenant shall repair and restore in
a good and workmanlike manner to good condition any damage to the Premises or the Building caused by such removal. Landlord, upon notice to Tenant given at least sixty (60) days prior to the Expiration Date, may require Tenant to remove any
Specialty Alterations from the Premises, and to repair and restore in a good and workmanlike manner to good condition any damage to the Premises or the Building caused by such removal. If (x) the Expiration Date is not the Fixed Expiration
Date, and (y) Landlord gives a notice to Tenant on or prior to the thirtieth (30th) day after the Expiration Date to the effect that Landlord does not wish to retain a particular Specialty Alteration, then Tenant shall pay to Landlord the
reasonable Out-of-Pocket Costs that are incurred by Landlord in so removing such Specialty Alterations, and in so repairing and restoring any such damage to the Building
or the Premises, within thirty (30) days after Landlord submits to Tenant an invoice therefor together with reasonable supporting documentation for the charges set forth therein. Any Alterations that remain in the Premises after the Expiration
Date shall be deemed to be the property of Landlord (with the understanding, however, that Tenant shall remain liable to Landlord for any default of Tenant in respect of Tenant’s obligations under this Section 7.8). 

7.9. Contractors and Supervision. 

(A) All Alterations (other than Decorative Alterations) shall be performed only under the supervision of a licensed architect that Landlord
approves, which approval Landlord shall not unreasonably withhold, condition or delay. 
 (B) Subject to the provisions of this
Section 7.9(B), Tenant shall perform all Alterations (other than Decorative Alterations) using contractors, subcontractors, engineers and mechanics that in each case Landlord designates from time to time and charge commercially reasonable
prices. Landlord shall give Tenant a notice containing a list of such contractors, such subcontractors and such engineers that Landlord designates promptly after Tenant’s request therefor from time to time (it being understood that Landlord
shall include in such list the names of at least three (3) subcontractors for each trade and at least three (3) general contractors). 

(C) Tenant shall have the right to request that Landlord perform supervisory project management services for any Alterations that Tenant
performs during the Term in accordance with the terms of this Article 7. If Tenant makes any such request, then Landlord and Tenant shall seek in good faith to determine the terms of Tenant’s engagement of Landlord to perform such services (it
being understood that such terms shall include, without limitation, the payment of a fee by Tenant to Landlord for such supervisory services on market terms). 

  
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 (D) Tenant shall pay to Landlord, from time to time, as additional rent, the reasonable Out-of-Pocket Costs incurred by Landlord in connection with an Alteration (other than Decorative Alterations) (including, without limitation, the reasonable Out-of-Pocket Costs that Landlord incurs in reviewing the plans and specifications for such Alterations, and inspecting the progress of such Alterations), within thirty
(30) days after Landlord gives Tenant an invoice therefor together with reasonable supporting documentation for the charges set forth therein. 

7.10. Pantry. 
 Landlord
shall not unreasonably withhold, condition or delay Landlord’s approval of an Alteration consisting of the installation of a pantry in the Premises for the purpose of warming food for Tenant’s personnel and business guests (but not for use
as a public restaurant). Any vending machines that Tenant installs in the Premises and that involve plumbing connections shall have a waterproof pan located thereunder, connected to a drain. 

7.11. Window Coverings. 

Tenant shall install on the windows of the Premises only the curtains, blinds, shades or screens that Landlord approves, which approval
Landlord shall not unreasonably withhold, condition or delay (it being understood that Landlord, in considering whether to grant such approval, shall have the right to take into account the impact of Tenant’s proposed installation on the
exterior appearance of the Building). 
 7.12. Air-Cooled HVAC Installations. 

Tenant shall not have the right to install a supplementary HVAC system for the Premises that requires vents or louvers to be installed on the
exterior of the Building. 
 7.13. Tenant’s Furniture. 

Landlord shall reimburse Tenant for up to Seventy-Five Thousand Dollars and No Cents ($75,000.00) for furniture purchased by Tenant to use in
the Premises. Landlord shall make such reimbursement to Tenant within thirty (30) days of Landlord’s receipt of Tenant’s written request for reimbursement together with reasonably detailed invoices for the furniture so purchased to
use in the Premises. 
 Article 8 

REPAIRS 
 8.1.
Landlord’s Repairs. 
 Subject to the terms of this Article 8 and to Article 15 hereof and Article 16 hereof,
Landlord shall maintain and make all necessary repairs to and replacements of (i) the Building 

  
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Systems that service the Premises, (ii) the structural portions of the Building, (iii) the roof of the Building, (iv) the sidewalks that are adjacent to the Building, (v) the
exterior walls of the Premises, (vi) the windows of the Premises, (vii) the public portions of the Building, and (viii) the Premises (to the extent that the necessity for such repair derives from a Work Access) in each case in
conformity with the standards that are customary for first-class office buildings in the vicinity of the Building. Subject to Section 8.3(B) hereof, nothing contained in this Section 8.1 requires Landlord to maintain or repair the systems
within the Premises that distribute within the Premises electricity, HVAC or water. 
 8.2. Tenant’s Repairs. 

(A) Subject to the terms of this Article 8 and to Article 15 hereof and Article 16 hereof, Tenant, at Tenant’s expense, shall take good
care of the Premises (including, without limitation, (i) the fixtures and equipment that are installed in the Premises on the Commencement Date, (ii) the Alterations, and (iii) the systems within the Premises that distribute within
the Premises electricity, HVAC or water). Tenant shall make all repairs to the Premises as and when needed to preserve the Premises in good condition, except for reasonable wear and tear, obsolescence and damage for which Tenant is not responsible
pursuant to the provisions of Article 15 hereof. Nothing contained in this Section 8.2(A) shall require Tenant to perform any repairs to the Premises that are Landlord’s obligation to perform under Section 8.1 hereof All repairs made
by Tenant as contemplated by this Section 8.2(A) shall be in conformity with the standards that are customary for first-class office buildings in the vicinity of the Building. Tenant shall perform such repairs in accordance with the terms of
Article 7 hereof, including, without limitation, Sections 7.4 and 7.9 hereof. 
 (B) Subject to the terms of this Section 8.2(B), if
(a) Landlord gives Tenant a notice that Tenant has failed to perform a repair that this Section 8.2 obligates Tenant to perform, and (b) Tenant fails to proceed with reasonable diligence to make such repair within thirty
(30) days after the date that Landlord gives such notice to Tenant (or such shorter period that Landlord designates in such notice to the extent reasonably required under the circumstances to alleviate an imminent threat to persons or
property), then (i) Landlord may make such repair, and (ii) Tenant shall pay to Landlord, as additional rent, the reasonable Out-of-Pocket Costs thereof, with
interest thereon at the Applicable Rate calculated from the date that Landlord incurs such expenses, within thirty (30) days after Landlord gives Tenant an invoice therefor together with reasonable supporting documentation for the charges set
forth therein. If (x) a particular repair that this Section 8.2 obligates Tenant to perform cannot be performed with reasonable diligence during the aforesaid period of thirty (30) days (or during such shorter period that Landlord
designates, as the case may be), and (y) Tenant commences such repair during such period of thirty (30) days (or such shorter period that Landlord designates), then Landlord shall not have the right to perform such repair on Tenant’s
behalf as otherwise described in this Section 8.2(B) unless Tenant fails to pursue such repair with reasonable continuity and diligence. Nothing contained in this Section 8.2(B) limits the remedies that are available to Landlord after the
occurrence of an Event of Default. 

  
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 8.3. Certain Limitations. 

(A) Tenant, at Tenant’s expense, shall repair in accordance with the terms set forth in Section 8.2 hereof all damage to the
Premises, or to any other part of the Building or the Building Systems, in each case to the extent resulting from the negligence or willful misconduct of, or Alterations made by, Tenant or any other Person claiming by, through or under Tenant;
provided, however, that Landlord shall have the right to perform any such repair to the extent that such repair affects the structure of the Building or such repair affects any Building System, in which case Tenant shall pay to Landlord an amount
equal to the Out-of-Pocket Costs that Landlord reasonably incurs in performing such repair, on or prior to the thirtieth (30th) day after the date that Landlord gives to
Tenant an invoice therefor together with reasonable supporting documentation for the charges set forth therein. Nothing contained in this Section 8.3(A) limits the provisions of Section 14.3 hereof. 

(B) Landlord, at Landlord’s expense, shall repair promptly all damage to the Premises that results from Landlord’s negligence or
willful misconduct. Nothing contained in this Section 8.3(B) limits the provisions of Section 14.3 hereof. 
 8.4.
Overtime. 
 Subject to the provisions of this Section 8.4, Landlord shall have no obligation to employ contractors or labor at
overtime or premium pay rates in connection with Landlord’s making repairs as contemplated by this Article 8. If Landlord’s repair (or the condition that Landlord is required to repair) (i) denies Tenant from having reasonable access
to the Premises, (ii) threatens the health or safety of any occupant of the Premises, or (iii) materially interferes with Tenant’s ability to conduct its business in the Premises during Tenant’s ordinary business hours, then
Landlord, at Landlord’s own expense, shall employ contractors or labor at overtime or premium pay rates to the extent reasonably necessary. In connection with any repair performed by Landlord pursuant to this Article 8 other than as a result of
the circumstances set forth in clauses (i) through (iii) of this Section 8.4, Landlord, at Tenant’s request, shall also perform any such other repair, to the extent reasonably practicable, using contractors or labor at overtime or
premium pay rates, in which case Tenant shall pay to Landlord, as additional rent, an amount equal to the excess of (x) the Out-of-Pocket Costs that Landlord incurs
in performing such repair (using contractors or labor at overtime or premium pay rates), over (y) the Out-of-Pocket Costs that Landlord would have incurred in
performing such repair without using contractors at overtime or premium pay rates, within thirty (30) days after the date that Landlord gives to Tenant an invoice therefor together with reasonable supporting documentation for the charges set
forth therein (it being understood that if more than one tenant requests that Landlord perform any such repair using contractors or labor at overtime or premium pay rates, then Landlord shall allocate such costs among such tenants equitably). 

  
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 Article 9 

ACCESS; LANDLORD’S CHANGES 

9.1. Access. 
 (A)
Subject to the terms of this Lease, Tenant, during the Term, shall have access to the Premises at all times, twenty-four (24) hours per day, every day of the year. 

(B) Subject to the terns of this Section 9.1(B), Landlord and Landlord’s designees may enter the Premises at reasonable times upon
reasonable prior notice to Tenant (which notice may be given verbally to the person employed by Tenant with whom Landlord’s representative ordinarily discusses matters relating to the Premises) to (i) examine the Premises, (ii) show
the Premises to prospective tenants during the last twelve (12) months of the Term, (iii) show the Premises to prospective purchasers or master lessees of Landlord’s interest in the Real Property, (iv) show the Premises to
Mortgagees or Lessors (or prospective Mortgagees or Lessors), (v) gain access to Reserved Areas, or (vi) make repairs, alterations, improvements, additions or restorations that (I) Landlord is required to make pursuant to the terms of this
Lease (including, without limitation, Landlord’s Work), or (II) are reasonably necessary in connection with the maintenance, repair, or operation of the Real Property (Landlord’s entry upon the Premises to perform such repairs,
alterations, improvements, additions or restorations being referred to herein as a “Work Access”). Landlord shall not be required to give Tenant advance notice of the entry by Landlord or Landlord’s designees into the Premises
as contemplated by this Section 9.1(B) to the extent necessary by reason of the occurrence of an emergency (with the understanding, however, that Landlord shall give Tenant notice of such emergency access as promptly as reasonably practicable
thereafter). Landlord, in connection with a Work Access, shall have the right to bring into the Premises, and store in the Premises in a reasonable manner for the duration of the Work Access, the materials and tools that Landlord reasonably requires
to perform the applicable repair, alteration, improvement, addition or restoration. Landlord shall have no liability to Tenant for any loss sustained by Tenant by reason of Landlord’s entry upon the Premises; provided, however, that
(w) nothing contained in this Section 9.1(B) diminishes Landlord’s obligation to repair the Premises (to the extent that the necessity for such repair derives from a Work Access) as provided in Section 8.1 hereof,
(x) subject to Section 14.3 hereof, Landlord shall remain liable to Tenant for personal injury or property damage that derives from Landlord’s negligence or willful misconduct in connection with any such entry upon the Premises, and
(y) nothing contained in this Section 9.1(B) limits Tenant’s rights to an abatement of Rental after a fire or other casualty as provided herein. 

9.2. Landlord’s Obligation to Minimize Interference. 

(A) Subject to Section 9.2(B) hereof, Landlord shall use commercially reasonable efforts to minimize interference with Tenant’s use
of the Premises in connection with Landlord’s accessing the Premises as contemplated by Section 9.1 hereof. 
 (B) Subject to the
provisions of this Section 9.2(B), Landlord shall have no obligation to employ contractors or labor at overtime or premium pay rates in connection with a Work Access as contemplated by this Article 9. If a Work Access (i) denies Tenant
from 

  
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having reasonable access to the Premises, (ii) threatens the health or safety of any occupant of the Premises, or (iii) materially interferes with Tenant’s ability to conduct its
business in the Premises during Tenant’s ordinary business hours, then Landlord, at Landlord’s expense, shall employ contractors or labor at overtime or premium pay rates to the extent reasonably necessary. In connection with any Work
Access other than as a result of the circumstances set forth in clauses (i) through (iii) of this Section 9.2(B), Landlord, at Tenant’s request, shall also conduct such Work Access, to the extent reasonably practicable, using
contractors or labor at overtime or premium pay rates, in which case Tenant shall pay to Landlord, as additional rent, an amount equal to the excess of (x) the
Out-of-Pocket Costs that Landlord incurs in conducting such Work Access (using contractors or labor at overtime or premium pay rates), over (y) the Out-of-Pocket Costs that Landlord would have incurred in conducting such Work Access without using contractors at overtime or premium pay rates, within thirty (30) days
after the date that Landlord gives to Tenant an invoice therefor together with reasonable supporting documentation for the charges set forth therein (it being understood that if more than one tenant requests that Landlord conduct such Work Access
using contractors or labor at overtime or premium pay rates, then Landlord shall allocate such costs among such tenants equitably). 
 9.3.
Reserved Areas. 
 The Premises shall not include (i) the demising walls of the Premises (except for the interior face thereof),
(ii) the walls of the Premises that constitute the curtain wall for the Building (except for the interior face thereof), (iii) balconies, terraces and roofs that are adjacent to the Premises, and (iv) space that is used for Building Systems or
other purposes associated with the operation, repair, management or maintenance of the Real Property, including, without limitation, shafts, stacks, stairways, chutes, pipes, conduits, ducts, fan rooms, mechanical rooms, plumbing facilities, and
service closets (except to the extent expressly provided herein) (the areas described in clauses (iii) and (iv) above being collectively referred to herein as the “Reserved Areas”). 

9.4. Ducts, Pipes and Conduits. 

Landlord shall have the right to install, use and maintain ducts, cabling, pipes and conduits in and through the Premises, provided that
(a) such ducts, cabling, pipes and conduits are concealed within or above partitioning columns, walls or ceilings, except that if such ducts, cabling, pipes or conduits are installed in areas that are utility areas (such as storage areas,
mailrooms or mud rooms), then such ducts, cabling, pipes or conduits may also be installed on partitioning walls, columns or ceilings, (b) such ducts, cabling, pipes and conduits do not reduce the Usable Area of the Premises by more than a de
minimis amount, and (c) Landlord installs such ducts, cabling, pipes and conduits in a manner that minimizes, to the extent reasonably practicable, any adverse effect on an Alteration theretofore performed in the Premises. If Landlord requires
access to the Premises to make the installations as contemplated by this Section 9.4, then Landlord shall perform such installations in accordance with the terms hereof that govern a Work Access. 

  
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 9.5. Keys. 

Tenant shall provide Landlord, from time to time, with the keys to the Premises (or with the appropriate means to access the Premises using
Tenant’s electronic security systems). 
 9.6. Landlord’s Changes. 

(A) Subject to Section 9.6(B) hereof, Tenant shall have the right to use, in common with the other occupants of the Building, the
portions of the Building that Landlord dedicates from time to time as common area for the general use of the occupants of the Building. 

(B) Landlord, from time to time, shall have the right to change the arrangement or location of the public portions of the Building, including,
without limitation, lobbies, entrances, passageways, doors, corridors, stairs and toilets that in each case are not located in the Premises, provided any such change does not (a) unreasonably reduce or unreasonably interfere with Tenant’s
access to the Building or the Premises, (b) reduce the floor area of the Premises (except to a de minimis extent), or (c) reduce to a material extent the level or quality of services that are available to Tenant on the Commencement Date.

 (C) Landlord, from time to time, shall have the right to change, or reduce the number of, the passenger or freight elevators serving the
Premises, provided that such change or reduction does not reduce to a material extent the passenger or freight elevator service standards that the passenger and freight elevators meet on the date hereof. 

(D) Landlord, from time to time, shall have the right to change the name, number or designation by which the Building is commonly known. 

(E) 
 (1) Landlord shall have
the right, from time to time, to close, obstruct or darken the windows of the Premises temporarily to the extent required to comply with a Requirement or to perform repairs, maintenance, alterations, or improvements to the Building. Landlord shall
only have the right to close, obstruct or darken the windows of the Premises permanently to the extent required to comply with a Requirement that does not become applicable to the Building by virtue of Landlord’s performance of elective
construction in the Building. 
 (2) If, at any time, the windows of the Premises are closed, obstructed or darkened temporarily, as
aforesaid, then Landlord shall perform (or cause to be performed) such repairs, maintenance, alterations or improvements, or shall comply with the applicable Requirement (or cause such Requirement to be complied with), in each case with reasonable
diligence, and otherwise take such action as may be reasonably necessary to minimize the period during which such windows are temporarily closed, obstructed or darkened (it being understood, however, that subject to Section 8.4 hereof, Landlord
shall not be required to perform such repairs, maintenance, alterations or improvements using contractors or labor at overtime or premium pay rates). 

  
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 Article 10 

UNAVOIDABLE DELAYS AND INTERRUPTION OF SERVICE 

10.1. Unavoidable Delays. 

Subject to Article 15 hereof and Article 16 hereof, this Lease and the obligation of Tenant to pay Rental hereunder and to perform all of
Tenant’s other covenants shall not be affected, impaired or excused, and Landlord shall not have any liability to Tenant, to the extent that Landlord is unable to perform Landlord’s covenants under this Lease by reason of any cause beyond
Landlord’s reasonable control, including, without limitation, strikes, labor troubles, acts of terrorism or the occurrence of an act of God; provided, however, that Landlord shall not have the right to claim under this Section 10.1 that
Landlord’s failure to have funds available to make a payment of money constitutes an excuse for Landlord’s performance of an obligation of Landlord hereunder. 

10.2. Interruption of Services. 

Landlord, from time to time, shall have the right to interrupt or curtail the level of service provided by the Building Systems to the extent
reasonably necessary to accommodate the performance of repairs, additions, alterations, replacements or improvements that in Landlord’s reasonable judgment are desirable or necessary. Landlord shall give Tenant reasonable advance notice of any
such interruption or curtailment (to the extent that Landlord does not need to arrange for such interruption or curtailment to manage an emergency) and schedule any such interruption or curtailment at times that minimizes, to the extent reasonably
practicable, the effect of such interruption or curtailment on Tenant’s ability to conduct its business in the Premises during Tenant’s ordinary business hours. If such interruption or curtailment of the level of service provided by the
Building Systems (i) denies Tenant from having reasonable access to the Premises, (ii) threatens the health or safety of any occupant of the Premises, or (iii) materially interferes with Tenant’s ability to conduct its business
in the Premises during Tenant’s ordinary business hours, then Landlord, at Landlord’s expense, shall employ contractors or labor at overtime or premium pay rates to the extent reasonably necessary. In connection with any interruption or
curtailment of services other than as a result of the circumstances set forth in clauses (i) through (iii) of this Section 10.2, Landlord, at Tenant’s request, shall also schedule any such interruption or curtailment, to the extent
reasonably practicable, using contractors or labor at overtime or premium pay rates, in which case Tenant shall pay to Landlord, as additional rent, an amount equal to the excess of (x) the Out-of-Pocket Costs that Landlord incurs in so scheduling such interruption or curtailment (using contractors or labor at overtime or premium pay rates), over (y) the Out-of-Pocket Costs that Landlord would have incurred in scheduling such interruption or curtailment without using contractors at overtime or premium pay rates, within thirty (30) days after the date
that Landlord gives to Tenant an invoice therefor together with reasonable supporting documentation for the charges set forth therein (it being understood that if more than one tenant requests that Landlord conduct such interruption or curtailment
of services using contractors or labor at overtime or premium pay rates, then Landlord shall allocate such costs among such tenants equitably). 

  
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 Article 11 

REQUIREMENTS 
 11.1.
Tenant’s Obligation to Comply with Requirements. 
 (A) Subject to the terms of this Article 11, Tenant, at
Tenant’s expense, shall comply with all Requirements applicable to the Premises, including, without limitation, (i) Requirements that are applicable to the performance of Alterations, (ii) Requirements that become applicable by reason
of Alterations having been performed, (iii) Requirements that are applicable by reason of the specific nature or type of business operated by Tenant (or any other Person claiming by, through or under Tenant) in the Premises, and (iv) Local
Law No. 88 of the City of New York. Tenant shall not be required to make any Alteration or other changes to the structural components of the Building or to the Building Systems in either case to comply with any Requirement unless (a) such
Alteration or other change is required by reason of Alterations having been performed by Tenant (or another Person claiming by, through or under Tenant), or (b) such Alteration or other change is required by reason of the specific nature of the
use of the Premises by Tenant (or such other Person) (as opposed to the use of the Premises for the general, administrative and executive offices purposes otherwise permitted under Section 3.1 hereof), or (c) such Alteration or other
change is required to install, modify or replace any fire suppression device or system in the Premises (including, without limitation, any distribution portions of the sprinkler systems). 

(B) The term “Requirements” shall mean, collectively, (i) all present and future laws, rules, orders, ordinances,
regulations, statutes, requirements, codes and executive orders of all Governmental Authorities, and of any applicable fire rating bureau, or other body exercising similar functions, and (ii) all requirements that the issuer of Landlord’s
Property Policy imposes (including, without limitation, any such requirements that such issuer requires as the basis for the premium that such issuer charges Landlord for Landlord’s Property Policy), provided that such requirements that the
issuer of Landlord’s Property Policy imposes are reasonably consistent with the requirements imposed by reputable insurers of comparable properties in The City of New York. 

(C) The term “Governmental Authority” shall mean the United States of America, the State of New York, The City of New York,
any political subdivision thereof and any agency, department, commission, board, bureau or instrumentality of any of the foregoing, or any quasi-governmental authority, now existing or hereafter created, having jurisdiction over the Real Property or
any portion thereof. 
 (D) Subject to the terms of this Section 11.1(D), if (a) Landlord gives Tenant a notice that Tenant has
failed to comply with a Requirement as required by this Section 11.1, and (b) Tenant fails to proceed with reasonable diligence to comply with such Requirement within thirty (30) days after the date that Landlord gives such notice to
Tenant (or such shorter period that Landlord designates in such notice to the extent reasonably required under the circumstances to alleviate an imminent threat to persons or property), then (i) Landlord may perform the work and otherwise take
steps that are required to comply with such Requirement, and (ii) Tenant shall pay to Landlord, as additional rent, the reasonable Out-of-Pocket Costs thereof, with
interest thereon at the Applicable Rate calculated from the date that Landlord 

  
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incurs such expenses, within thirty (30) days after Landlord gives Tenant an invoice therefor together with reasonable supporting documentation for the charges set forth therein (it being
agreed that Landlord shall endeavor to promptly give Tenant such invoice and supporting documentation after the same is received and processed by Landlord and otherwise is available for Landlord to provide to Tenant). If (x) Tenant’s
compliance with a particular Requirement as required by this Section 11.1 cannot be accomplished with reasonable diligence during the aforesaid period of thirty (30) days (or during such shorter period that Landlord designates, as the case
may be), and (y) Tenant commences such compliance during such period of thirty (30) days (or such shorter period that Landlord designates), then Landlord shall not have the right to perform the work and otherwise take steps that are
required to comply with such Requirement on Tenant’s behalf as otherwise described in this Section 11.1(D) unless Tenant fails to pursue such compliance with reasonable continuity and diligence. Nothing contained in this
Section 11.1(D) limits the remedies that are available to Landlord after the occurrence of an Event of Default. 
 11.2.
Landlord’s Obligation to Comply with Requirements. 
 Landlord shall comply with all Requirements applicable to
the Premises and the Building (including, without limitation, Requirements in respect of which the violation thereof impedes Tenant’s performance of Alterations in the Premises) other than the Requirements with respect to which Tenant is
required to comply pursuant to Section 11.1 hereof, subject, however, to Landlord’s right to contest in good faith the applicability or legality thereof (provided that Landlord’s contesting such Requirements does not interfere in any
material respect with Tenant’s use and occupancy of the Premises). Notwithstanding anything to the contrary herein, Landlord covenants that on the Commencement Date, (i) the paths of travel in the Building to the Premises including, the
common areas of the Building that constitute such paths of travel, shall be in compliance with all applicable Requirements as in effect on the Commencement Date and (ii) the sprinkler distribution system serving the Premises shall be in
compliance with Local Law 26 of 2004 of the City of New York as in effect on the Commencement Date (including the requirements thereunder with respect to such sprinkler distribution system that must be met on or prior to July 1, 2019). 

11.3. Certificate of Occupancy. 

(A) Subject to the terms of this Section 11.3(A), Landlord covenants that from and after the Commencement Date a temporary or permanent
certificate of occupancy covering the Premises (or such other certificate as may be required by Requirements from time to time to lawfully occupy the Premises) shall be in full force and effect permitting the Premises to be used for the general
purposes that are permitted under Article 3 hereof. Nothing contained herein constitutes Landlord’s covenant, representation or warranty that the Premises or any part thereof lawfully may be used or occupied for any particular purpose or in any
particular manner; provided, however, that Landlord shall not have the right to amend the certificate of occupancy for the Premises (or such other certificate as may be required by Requirements from time to time to lawfully occupy the Premises) in a
manner that limits the uses that Tenant may perform in the Premises in accordance with Article 3 hereof. Landlord shall have no liability to Tenant under this Section 11.3(A) to the extent such certificate of occupancy (or such other
certificate) is not in full force and effect by reason of Tenant’s default hereunder or by reason of Alterations. 

  
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 (B) Tenant shall use the Premises only in a manner that conforms with the certificate of
occupancy that is in effect for the Premises. Tenant shall not have the right to amend the certificate of occupancy for the Premises or the Building without Landlord’s prior approval. 

Article 12 
 QUIET ENJOYMENT

 12.1. Quiet Enjoyment. 

Landlord covenants that Tenant may peaceably and quietly enjoy the Premises for the Term, subject, nevertheless, to the terms and conditions
of this Lease. 
 Article 13 

SUBORDINATION 
 13.1.
Subordination. 
 (A) This Lease shall be subject and subordinate to the priority of each Superior Lease that hereafter exists (and
does not exist as of the date hereof) in respect of which the Lessor is not an Affiliate of Landlord. This Lease shall be subject and subordinate to the lien of each Mortgage that hereafter exists (and does not exist as of the date hereof) in
respect of which the Mortgagee is not an Affiliate of Landlord. 
 (B) The term “Lessor” shall mean a lessor under a
Superior Lease. 
 (C) The term “Mortgage” shall mean any trust indenture or mortgage which now or hereafter encumbers
Landlord’s estate in the Premises. 
 (D) The term “Mortgagee” shall mean any trustee, mortgagee or holder of a
Mortgage. 
 (E) The term “Superior Lease” shall mean any lease pursuant to which Landlord now or hereafter obtains or
retains its interest in the Premises (to the extent that Landlord’s interest in the Premises is a leasehold estate). 

  
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 13.2. Attornment. 

If, at any time prior to the Expiration Date, a Person succeeds to Landlord’s interest in the Real Property by reason of a foreclosure
under a Mortgage or by reason of the termination of a Superior Lease (any such Person being referred to herein as the “Successor”), then Tenant, at the Successor’s election, shall attorn, from time to time, to the Successor, in
either case upon the then executory terms of this Lease, for the remainder of the Term. If the Successor is not an Affiliate of the Person that constituted Landlord immediately prior to such Successor’s obtaining an interest in the Premises,
then the Successor shall not be: 
 (A) liable for any act or omission of any prior landlord (including, without limitation, the then
defaulting landlord), except to the extent that (i) such act or omission continues after the date that the Successor succeeds to Landlord’s interest in the Real Property, and (ii) such act or omission of such prior landlord is of a
nature that the Successor can cure by performing a service or making a repair, or 
 (B) subject to any defenses or offsets that Tenant has
against any prior landlord (including, without limitation, the then defaulting landlord) (except for any offsets expressly permitted under this Lease), or 

(C) bound by any payment of Rental that Tenant has made to any prior landlord (including, without limitation, the then defaulting landlord)
more than thirty (30) days in advance of the date that such payment is due (other than any Operating Expense Payments or Tax Payments required to be paid in advance pursuant to the terms of this Lease and the Rental that Tenant pays pursuant to
Section 1.5(E) hereof), or 
 (D) bound by any obligation to make any payment to or on behalf of Tenant to the extent that such
obligation accrues prior to the date that the Successor succeeds to Landlord’s interest in the Real Property, or 
 (E) bound by any
obligation to perform any work or to make improvements to the Premises, except for: 
 (1) Landlord’s Work, 

(2) repairs and maintenance that Landlord is required to perform pursuant to the provisions of this Lease that in each case either
(i) first becomes necessary prior to the date that the Successor succeeds to Landlord’s interest in the Real Property and the need for which shall be continuing after the date that the Successor succeeds to Landlord’s interest in the
Real Property, or (ii) first becomes necessary after the date that the Successor succeeds to Landlord’s interest in the Real Property, 

(3) repairs to the Premises that become necessary by reason of a fire or other casualty that occurs from and after the date that the Successor
succeeds to Landlord’s interest in the Real Property and that Landlord is required to perform pursuant to Article 15 hereof, 
 (4)
repairs to the Premises or any part thereof that become necessary by reason of a fire or other casualty that occurs prior to the date that the Successor succeeds to Landlord’s interest in the Real Property and that Landlord is required to
perform pursuant to Article 15 hereof, to the extent that the Successor can make such repairs from the net proceeds of Landlord’s Property Policy that are actually made available to the Successor (with the understanding, however, that if
(i) a fire or other casualty occurs prior to the date that the Successor succeeds to Landlord’s interest in the Real Property, (ii) Landlord is required to repair the resulting damage to the Building pursuant to Article 15 hereof, and
(iii) the Successor cannot make such repairs from such net proceeds, then Tenant shall have the right to terminate this Lease by giving notice thereof to the Successor within fifteen (15) days after the date that the Successor gives Tenant
notice that the Successor does not intend to perform such repairs), 

  
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 (5) repairs to the Premises as a result of a partial condemnation that occurs from and after
the date that the Successor succeeds to Landlord’s interest in the Real Property and that Landlord is required to perform pursuant to Article 16 hereof, and 

(6) repairs to the Premises as a result of a partial condemnation that occurs prior to the date that the Successor succeeds to Landlord’s
interest in the Real Property and that Landlord is required to perform pursuant to Article 16 hereof, to the extent that the Successor can make such repairs from the net proceeds of any condemnation award made available to the Successor (with the
understanding, however, that if (i) a partial condemnation occurs prior to the date that the Successor succeeds to Landlord’s interest in the Real Property, (ii) Landlord is required to make repairs to the Building pursuant to Article
16 hereof by reason of such partial condemnation, and (iii) the Successor cannot make such repairs from such net proceeds, then Tenant shall have the right to terminate this Lease by giving notice thereof to the Successor within fifteen
(15) days after the date that the Successor gives Tenant notice that the Successor does not intend to perform such repairs), 
 (F)
bound by any amendment or modification of this Lease made without the consent of the Successor after the date that Tenant is given notice of the applicable Mortgage or the applicable Superior Lease (as the case may be), or 

(G) bound to return the Letter of Credit until the Letter of Credit has come into the Successor’s actual possession and Tenant is
entitled to the Letter of Credit pursuant to the terms of this Lease. 
 The provisions of this Section 13.2 shall apply
notwithstanding that, as a matter of law, this Lease terminates upon the termination of any Superior Lease or the foreclosure of a Mortgage. No further instrument shall be required to give effect to Tenant’s attorning to a Successor as
contemplated by this Section 13.2. Tenant, however, upon demand of any Successor, shall execute, from time to time, instruments, in a recordable form and in a form reasonably satisfactory to the Successor, confirming the foregoing provisions of
this Section 13.2. 
 13.3. Amendments to this Lease. 

Tenant shall execute and deliver, from time to time, amendments to this Lease, promptly after Landlord’s request, to the extent that
(x) such amendments are reasonably required by a Mortgagee or a Lessor that in either case is not an Affiliate of Landlord (or are reasonably required by a proposed Mortgagee or proposed Lessor that in either case is not an Affiliate of
Landlord and that consummates the applicable Mortgage or the applicable Superior Lease contemporaneously with Tenant’s execution and delivery of such amendment hereof), and (y) Landlord gives to Tenant reasonable evidence to the effect
that such Mortgagee or Lessor requires such amendments; provided, however, that Tenant shall not be required to agree to any such amendments to this Lease that (i) increase Tenant’s monetary obligations under this Lease,
(ii) adversely affect or diminish Tenant’s rights under this Lease (except in either case to a de minimis extent), or (iii) increase Tenant’s other obligations under this Lease (except to a de minimis
extent). 

  
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 13.4. Tenant’s Estoppel Certificate. 

Tenant, within fifteen (15) Business Days after Landlord’s request from time to time (but not more frequently than three
(3) times in any particular period of twelve (12) months), shall deliver to Landlord a written statement executed by Tenant, in form reasonably satisfactory to Landlord, (1) stating that this Lease is then in full force and effect and
has not been modified (or if this Lease is not in full force and effect, stating the reasons therefor, or if this Lease is modified, setting forth all modifications), (2) setting forth the date to which the Fixed Rent, the Escalation Rent and other
items of Rental have been paid, (3) stating whether, to the actual knowledge of Tenant (without having made any investigation), Landlord is in default under this Lease, and, if Landlord is in default, setting forth the specific nature of all
such defaults, and (4) stating any other matters reasonably requested by Landlord and related to this Lease. Tenant acknowledges that any such statement that Tenant delivers to Landlord pursuant to this Section 13.4 may be relied upon by
(x) any purchaser or owner of the Real Property or any interest therein (including, without limitation, any Lessor), or (y) any Mortgagee. 

13.5. Rights to Cure Landlord’s Default. 

If (x) a Superior Lease or Mortgage exists, (y) the Lessor or Mortgagee is not an Affiliate of Landlord, and (z) Landlord gives
Tenant notice thereof, then Tenant shall not seek to terminate this Lease by reason of Landlord’s default hereunder until Tenant has given written notice of such default to such Lessor or such Mortgagee in either case at the address that has
been furnished to Tenant. If any such Lessor or Mortgagee notifies Tenant, within ten (10) Business Days after the date that such Lessor or Mortgagee receives such notice from Tenant, that such Lessor or Mortgagee intends to remedy such act or
omission of Landlord, then Tenant shall not have the right to so terminate this Lease unless such Lessor or Mortgagee fails to remedy such act or omission of Landlord within a reasonable period of time after the date that such Lessor or Mortgagee
gives such notice to Tenant (it being understood that such Lessor or Mortgagee shall not have any liability to Tenant for the failure of such Lessor or Mortgagee to so remedy such act or omission of Landlord during such period). 

13.6. Zoning Lot Merger Agreement. 

Tenant hereby waives irrevocably any rights that Tenant may have in connection with any zoning lot merger or transfer of development rights
with respect to the Real Property, including, without limitation, any rights that Tenant may have to be a party to, to contest, or to execute any Declaration of Restrictions (as such term is used in
Section 12-10 of the Zoning Resolution of The City of New York effective December 15, 1961, as amended) with respect to the Real Property, which would cause the Premises to be merged with or unmerged
from any other zoning lot pursuant to such Zoning Resolution or to any document of a similar nature and purpose. Tenant agrees that this Lease shall be subject and subordinate to any Declaration of Restrictions or any other document of similar
nature and purpose now or hereafter affecting the Real Property (it being understood, however, that Landlord shall not permit such Declaration 

  
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of Restrictions or any such other document to impair Tenant’s rights hereunder, or expand Tenant’s obligations hereunder, except, in either case, to a de minimis extent). In
confirmation of such subordination and waiver, Tenant, from time to time, shall execute and deliver promptly any certificate or instrument that Landlord reasonably requests. 

13.7. Tenant’s Financial Statements. 

Subject to the terms of this Section 13.7, Tenant shall provide to Landlord (a) the balance sheet of Tenant and each Predecessor
Tenant (if any) in either case dated as of the last day of each fiscal year (to the extent that the last day of each such fiscal year occurs during the Term), (b) the income statement of Tenant and each Predecessor Tenant (if any) for each such
fiscal year that occurs, in whole or in part, during the Term, and (c) the statement of changes in financial condition of Tenant and each Predecessor Tenant (if any) for each such fiscal year that occurs, in whole or in part, during the Term,
in each case on or prior to the one hundred fiftieth (150th) day after the last day of each such fiscal year (such financial statements being collectively referred to herein as
“Tenant’s Statements”). Tenant shall cause Tenant Statements to be prepared in accordance with GAAP, and to be accompanied by an unqualified opinion of a certified public accountant (or, if Tenant Statements shall
not be audited in the ordinary course, accompanied by a certification from Tenant’s chief financial officer or other authorized officer). For a period of two (2) years after Tenant gives to Landlord a particular Tenant’s Statement,
Landlord shall not disclose Tenant’s Statements to any third party, except that Landlord may disclose Tenant’s Statements (i) to Persons who are directors, members, partners, trustees, employees, agents or advisors to Landlord or
Landlord’s Affiliates and who have been directed to maintain the confidentiality of Tenant’s Statements in accordance with the terms hereof, (ii) to Persons that provide (or that propose to provide), directly or indirectly, debt or
equity capital to Landlord or Landlord’s Affiliates and that have been directed to maintain the confidentiality of Tenant’s Statements in accordance with the terms hereof, (iii) to Persons that purchase (or that propose to purchase)
the Real Property or any portion thereof and that have been directed to maintain the confidentiality of Tenant’s Statements in accordance with the terms hereof, (iv) to Lessors (or prospective Lessors) that have been directed to maintain
the confidentiality of Tenant’s Statements in accordance with the terms hereof, (v) to Persons that provide professional services for Landlord (such as, for example, Landlord’s attorneys and accountants) and that have been directed to
maintain the confidentiality of Tenant’s Statements in accordance with the terms hereof, (vi) to the extent required by law, rule, regulation or requirement of a stock exchange, rating agency or regulator or in connection with any legal or
regulatory proceeding, (vii) to the extent reasonably required by Landlord in enforcing Landlord’s rights hereunder, and (viii) to the extent that Tenant’s Statements are otherwise available to the general public, are already in
Landlord’s possession (having been provided by a source other than Tenant), or come into Landlord’s possession from a source other than Tenant who is not known by Landlord to be bound by a confidentiality obligation to Tenant with respect
thereto. Tenant shall not have any obligation to provide Tenant’s Statements to Landlord as provided in this Section 13.7 during the period that (x) the stock of Tenant is publicly traded on a recognized stock exchange, and
(y) Tenant’s Statements are available to the general public under filings that Tenant makes with the Securities and Exchange Commission. 

  
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 Article 14 

INSURANCE 
 14.1.
Tenant’s Insurance. 
 (A) Tenant, at Tenant’s expense, shall obtain and keep in full force and effect
(i) an insurance policy for Tenant’s Property and the Specialty Alterations, in either case to the extent insurable under “all-risk” property insurance policies, covering the perils listed
in the current edition of the Insurance Services Office, Inc. (“ISO”), special causes of loss form CP 10 30 including, without limitation, coverage for acts of terrorism (if such coverage for acts of terrorism is available on
commercially reasonable terms), in an amount equal to one hundred percent (100%) of the replacement value thereof (subject, however, at Tenant’s option, to a reasonable deductible) (the insurance policy described in this clause (i) being
referred to herein as “Tenant’s Property Policy”), (ii) a policy of worker’s compensation insurance, to the extent required by law (such policy being referred to herein as “Tenant’s
Worker’s Compensation Policy”), (iii) a commercial automobile liability policy covering any vehicle that Tenant brings upon the Real Property (regardless of whether Tenant owns or hires such vehicle) with a combined
single limit of not less than One Million Dollars ($1,000,000) (such policy being referred to herein as “Tenant’s Auto Policy”, and (iv) a policy of commercial general liability insurance on an occurrence
basis, providing coverage that is at least as broad as the current edition of ISO Form CG 00 01 (the insurance policy described in this clause (iii) being collectively referred to herein as “Tenant’s Liability
Policy”). Tenant’s Property Policy and Tenant’s Liability Policy shall name Tenant as a named insured. Tenant’s Liability Policy (including, without limitation, any policy that Tenant obtains as described in
Section 14.1(D) hereof) and Tenant’s Auto Policy shall be endorsed to name the Landlord Indemnitees as additional insureds thereunder. 

(B) Tenant’s Property Policy shall contain a provision that no act or omission of Tenant shall affect or limit the obligation of the
insurer to pay the amount of any loss sustained. All of the insurance policies that Section 14.1(A) obligates Tenant to carry shall be non-cancelable unless at least thirty (30) days of advance
written notice is given to Landlord, except that such period of thirty (30) days may be reduced to no less than ten (10) days for non-payment of premium. If Tenant receives any notice of cancellation
or any other notice from the insurance carrier which may adversely affect the coverage of the insureds under Tenant’s Property Policy or Tenant’s Liability Policy, then Tenant shall immediately deliver to Landlord a copy of such notice.
Tenant’s Liability Policy shall have no exclusions limiting liability assumed under an insured’s contract (including, without limitation, tort liability of another assumed by the insured in a business contract). The minimum limits of
liability under Tenant’s Liability Policy shall be Five Million Dollars ($5,000,000) per occurrence for bodily injury (or death), personal injury and/or damage to property, which minimum amount Landlord may increase from time to time to the
amount of insurance that in Landlord’s reasonable judgment is then being customarily required by prudent landlords of first-class buildings in the vicinity of the Building from tenants leasing space similar in size, nature and location to the
Premises. 
 (C) Tenant shall cause Tenant’s Liability Policy and Tenant’s Worker’s Compensation Policy to be issued by
reputable insurers that are (x) permitted to do business in the State of New York, and (y) rated in Best’s Insurance Guide, or any successor thereto, as having a general policyholder rating of A and a financial rating of at least XII
(it being understood that if such ratings are no longer issued, then such insurer’s financial integrity shall conform to the standards that constitute such ratings from Best’s Insurance Guide as of the date hereof). 

  
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 (D) Tenant has the right to satisfy Tenant’s obligation to carry Tenant’s
Liability Policy with an umbrella insurance policy if such umbrella insurance policy contains an aggregate per location endorsement that provides the required level of protection for the Premises. Tenant has the right to satisfy Tenant’s
obligation to carry Tenant’s Property Policy with a blanket insurance policy if such blanket insurance policy provides, on a per occurrence basis, that a loss that relates to any other location does not impair or reduce the level of protection
available for the Premises below the amount required by this Lease. 
 (E) Tenant’s liability hereunder is not limited to the amount of
Tenant’s insurance recovery, to the amount of insurance that Tenant maintains in force, to the amount of insurance that Tenant is required to maintain in accordance with the terms of this Section 14.1, or to the amount of any insurance
that Tenant is required to carry, or that Tenant is permitted to carry, under applicable Requirements. Landlord’s review of, or approval of, any insurance that Tenant carries shall not limit Tenant’s obligation to carry the insurance that
this Section 14.1 requires Tenant to carry. 
 14.2. Landlord’s Insurance. 

(A) Subject to the terms of this Section 14.2, Landlord shall obtain and keep in full force and effect covering the Building, to the
extent insurable on commercially reasonable terms under then available standard forms of “all-risk” insurance policies, covering the perils insured under the ISO special causes of loss form CP 10 30
(June, 1995 edition or newer), including, without limitation, coverage for acts of terrorism (if such coverage for acts of terrorism is available on commercially reasonable terms), in an amount equal to one hundred percent (100%) of the replacement
value thereof or, at Landlord’s option, in such lesser amount as will avoid co-insurance (such insurance being referred to herein as “Landlord’s Property Policy”).
Tenant acknowledges that (i) Landlord’s Property Policy may encompass rent insurance, (ii) Landlord may also obtain a commercial general liability insurance policy and (iii) Landlord may also obtain other types of insurance
policies as reasonably deemed necessary by Landlord or Mortgagee. 
 (B) Landlord shall not be liable to Tenant for any failure to insure
any Alterations unless Tenant notifies Landlord of the completion of such Alterations and the cost thereof, and maintains adequate records with respect to such Alterations to facilitate the adjustment of any insurance claims with respect thereto.
Landlord shall have the right to provide that the coverage of Landlord’s Property Policy is subject to a reasonable deductible. Tenant shall cooperate with Landlord and Landlord’s insurance companies in the adjustment of any claims for any
damage to the Building or the Alterations. Landlord shall not be required to carry insurance on Tenant’s Property or the Specialty Alterations. Landlord shall not be required to carry insurance against any loss suffered by Tenant due to the
interruption of Tenant’s business. 

  
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 14.3. Mutual Waiver of Subrogation. 

(A) Subject to the provisions of this Section 14.3, Landlord and Tenant shall each obtain an appropriate clause in, or endorsement on,
Landlord’s Property Policy or Tenant’s Property Policy (as the case may be) pursuant to which the insurance companies waive subrogation or consent to a waiver of right of recovery. Landlord and Tenant also agree that, having obtained such
clauses or endorsements of waiver of subrogation or consent to a waiver of right of recovery, they shall not make any claim against or seek to recover from the Landlord Indemnitees or the Tenant Indemnitees (as the case may be) for any loss or
damage to its property or the property of others resulting from fire or other hazards covered by Landlord’s Property Policy or Tenant’s Property Policy (as the case may be) (with the understanding, therefore, that the party that sustains
such loss or damage shall not have a claim against the other party to reimburse the party that sustains such loss or damage for the amount of such party’s deductible or self-insured retention); provided, however, that the release, discharge,
exoneration and covenant not to sue herein contained shall be limited by and be coextensive with the terms and provisions of the waiver of subrogation clause or endorsements or clauses or endorsements consenting to a waiver of right of recovery.

 (B) If the payment of an additional premium is required for the inclusion of a waiver of subrogation provision as described in
Section 14.3(A) hereof, then each party shall advise the other party of the amount of any such additional premiums and the other party at its own election may, but shall not be obligated to, pay such additional premium. If (x) Tenant is
the party that elects to pay such additional premium to include such a waiver in Landlord’s Property Policy, and (y) other tenants in the Building make concurrently a similar election, then the aforesaid amount that Tenant is obligated to
pay to Landlord on account of such additional premium shall be only the portion thereof that Landlord allocates equitably to Tenant. If such other party does not elect to pay such additional premium, then the party whose insurer is charging the
additional premium shall not be required to obtain such waiver of subrogation provision. 
 (C) If either party is unable to obtain the
inclusion of such waiver of subrogation provision even with the payment of an additional premium, then such party shall attempt to name the other party as an additional insured (but not a loss payee) under the applicable insurance policy. If the
payment of an additional premium is required for naming the other party as an additional insured (but not a loss payee), then such party shall advise the other of the amount of any such additional premium and the other party at its own election may,
but shall not be obligated to, pay such additional premium. If (x) Tenant is the party that elects to pay such additional premium to name Tenant as an additional insured (but not as loss payee), and (y) other tenants in the Building make
concurrently a similar election, then the aforesaid amount that Tenant is obligated to pay to Landlord on account of such additional premium shall be only the portion thereof that Landlord allocates equitably to Tenant. If such other party does not
elect to pay such additional premium or if it is not possible to have the other party named as an additional insured (but not loss payee), even with the payment of an additional premium, then (in either event) the party whose insurer refuses to
include such waiver of subrogation provision shall so notify the other party and such party shall not have the obligation to name the other party as an additional insured. 

  
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 14.4. Evidence of Insurance. 

On or prior to the Commencement Date, each party shall deliver to the other party appropriate certificates of insurance required to be carried
by the parties pursuant to this Article 14, including copies of endorsements or clauses in the applicable insurance policies that evidence waivers of subrogation and naming of additional insureds in either case as required by Section 14.3
hereof (it being understood that Acord 25 shall suffice for Tenant’s Liability Policy, Tenant’s Auto Policy and Tenant’s Worker’s Compensation Policy and Acord 27 or 28 shall suffice for Tenant’s Property Policy and
Landlord’s Property Policy). Each party shall deliver to the other party evidence of each renewal or replacement of a policy prior to the expiration of such policy. 

14.5. No Concurrent Insurance. 

Tenant shall not obtain any property insurance (under Tenant’s Property Policy or otherwise) that covers the property that is covered by
Landlord’s Property Policy. 
 14.6. Tenant’s Obligation to Comply with Landlord’s Fire and
Casualty Insurance. 
 If (i) Tenant (or any other Person claiming by, through or under Tenant) uses the Premises for any purpose
other than general, administrative and executive offices and for uses reasonably incidental thereto, and (ii) the use of the Premises by Tenant (or such other Person) causes the premium for Landlord’s Property Policy to exceed the premium
that would have otherwise applied therefor if Tenant (or such Person) used the Premises for general, administrative and executive offices and for uses reasonably incidental thereto, then Tenant shall pay to Landlord, as additional rent, an amount
equal to such excess, on or prior to the thirtieth (30th) day after the date that Landlord gives to Tenant an invoice therefor, together with reasonable supporting documentation for the charges set forth therein. Nothing contained in this
Section 14.6 expands Tenant’s rights under Article 3 hereof. 
 Article 15 

CASUALTY 
 15.1.
Notice. 
 Tenant shall notify Landlord promptly of any fire or other casualty that occurs in the Premises. 

15.2. Landlord’s Restoration Obligations. 

Subject to the terms of this Section 15.2, Landlord, with reasonable diligence, shall repair the damage to (i) the Premises
(including, without limitation, the Alterations), (ii) the Building Systems that service the Premises, and (iii) the common elements of the Building that Tenant uses to gain access to the Premises, in each case to the extent caused by fire or
other casualty. The restoration work to be performed by Landlord shall include, without limitation, any portion of Landlord’s Work that Landlord did not Substantially Complete on the date that the fire or other casualty occurred. Landlord shall
commence the performance of such repairs as promptly as reasonably practicable after the occurrence of such fire or other casualty. 

  
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Landlord shall use commercially reasonable efforts to perform such repairs diligently, in a good and workmanlike manner, and in a manner that minimizes to the extent reasonably practicable
interference with Tenant’s use and occupancy of any portion of the Premises that remains tenantable. Landlord shall not be required to restore Tenant’s Property or the Specialty Alterations. Landlord shall not be required to commence such
restoration until Tenant gives Landlord the notice described in Section 15.1 hereof (unless Landlord otherwise has received actual notice of the fire or other casualty). Landlord shall not be obligated to restore any Alterations unless
(i) Tenant has Substantially Completed the performance thereof, (ii) Tenant has given Landlord notice to the effect that Tenant has Substantially Completed such Alterations, (iii) Tenant has given Landlord notice of the cost incurred
by Tenant in performing such Alterations, and (iv) Tenant has maintained records with respect to such Alterations in a form that allows Landlord to make a full insurance recovery therefor under Landlord’s Property Policy. If
(x) Tenant, as part of the Initial Alterations, demolishes all or a material part of the interior installation that exists in the Premises on the Commencement Date, and (y) the Premises (including any Alterations) is damaged by fire or
other casualty at any time prior to the date that Tenant Substantially Completes the Initial Alterations therein, then Landlord’s obligation to repair the Premises (and any Alterations) shall be limited to (w) the performance of
Landlord’s Work (to the extent that the performance of Landlord’s Work remains feasible after such fire or other casualty), (x) the part of the Building Systems serving the Premises on the Commencement Date, but not the distribution
portions of such Building Systems located within the Premises, (y) the floor and ceiling slabs of the Premises, and (z) the exterior walls of the Premises, all to substantially the same condition that existed on the Commencement Date.
Landlord shall have the right to adapt the restoration of the Premises as contemplated by this Section 15.2 to comply with applicable Requirements that are then in effect. Landlord shall not be obligated to restore the Premises as provided in
this Section 15.2 to the extent that this Lease terminates by reason of such fire or other casualty as provided in this Article 15. 

15.3. Rent Abatement. 

(A) Subject to Section 15.3(B) hereof, the Fixed Rent and the Escalation Rent that is otherwise due and payable hereunder shall be
reduced in the proportion that the number of square feet of Rentable Area of the part of the Premises that is not usable or accessible by Tenant by reason of such fire or other casualty bears to the total Rentable Area of the Premises immediately
prior to such fire or other casualty, for the period commencing on the date of such fire or other casualty and ending on the date that Landlord Substantially Completes the restoration described in Section 15.2 hereof or the applicable portion
of the Premises becomes accessible, as the case may be. 
 (B) If a fire or other casualty occurs in the Premises after the Commencement
Date and prior to the Rent Commencement Date, then the aggregate abatement of Fixed Rent and the Escalation Rent to which Tenant is entitled as contemplated by Section 15.3(A) hereof (from and after the Rent Commencement Date) shall be an
amount equal to the aggregate abatement of Fixed Rent and the Escalation Rent to which Tenant would have been entitled under Section 15.3(A) hereof if the Rent Commencement Date had occurred immediately prior to such fire or other casualty.

  
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 15.4. Landlord’s Termination Right. 

If the Building is so damaged by fire or other casualty that, in Landlord’s opinion, substantial alteration, demolition, or
reconstruction of the Building is required (regardless of whether the Premises have been damaged or rendered untenantable), then Landlord may terminate this Lease by giving Tenant notice thereof on or prior to the ninetieth (90th) day after such
fire or other casualty; provided, however, that if the Premises are not substantially damaged or rendered substantially untenantable by such fire or other casualty, then Landlord may not so terminate this Lease unless Landlord elects to terminate
leases (including this Lease) affecting at least seventy-five percent (75%) of the leasable area of the Building (excluding any portion of the Building leased to or occupied by Landlord or Landlord’s Affiliates). If Landlord elects to terminate
this Lease as aforesaid, then (I) the Term shall expire on a date set by Landlord that (A) is not sooner than (i) the tenth (10th) day after the date that Landlord gives such notice (if all or substantially all of the Premises is
rendered untenantable by such fire or other casualty), and (ii) the ninetieth (90th) day after the date that Landlord gives such notice (if less than all or substantially all of the Premises is rendered untenantable by such fire or other
casualty), and (B) is not later than the first (1st) anniversary of the date on which such fire or other casualty occurs, and (II) Tenant, on such date set by Landlord, shall vacate the
Premises and surrender the Premises to Landlord in accordance with the terms of this Lease that govern Tenant’s obligations upon the expiration or earlier termination of the Term. Upon the termination of this Lease under this Section 15.4,
the Rental shall be apportioned and any prepaid portion of the Rental for any period after the date that the abatement of Rental as described in Section 15.3 hereof becomes effective shall be refunded promptly by Landlord to Tenant (and
Landlord’s obligation to make such refund shall survive the Expiration Date). 
 15.5. Tenant’s Termination
Right. 
 (A) Landlord, within forty-five (45) days after the earlier to occur of (x) the date that Tenant gives Landlord
notice of the occurrence of a fire or other casualty as contemplated by Section 15.1 hereof, and (y) the date that Landlord otherwise has actual notice of such fire or other casualty, shall give to Tenant a statement prepared by a
reputable and independent contractor setting forth such contractor’s estimate in good faith as to the time required for Landlord to Substantially Complete the restoration described in Section 15.2 hereof (such statement that Landlord gives
to Tenant being referred to herein as the “Casualty Statement”); provided, however, that Landlord shall not be required to give Tenant a Casualty Statement if Landlord has theretofore exercised Landlord’s right to terminate
this Lease under Section 15.4 hereof. If the estimated time period as set forth in the Casualty Statement exceeds twelve (12) months from the date of the applicable fire or other casualty, then Tenant may elect to terminate this Lease by
giving notice to Landlord not later than the thirtieth (30th) day after the date that Landlord gives the Casualty Statement to Tenant. If Tenant makes such election to so terminate this Lease, then the Term shall expire on the thirtieth (30th) day
after Tenant gives such notice to Landlord. 
 (B) This Lease shall terminate if (i) a fire or other casualty occurs, and, by reason
thereof, Landlord has an obligation to perform a restoration as contemplated by Section 15.2 hereof, (ii) Tenant does not exercise Tenant’s right to terminate this Lease under Section 15.5(A) hereof in connection with such fire
or other casualty (or Tenant does not have the right 

  
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to terminate this Lease under Section 15.5(A) hereof in connection with such fire or other casualty), (iii) Landlord fails to Substantially Complete the performance of the restoration work
that Landlord is required to perform on or prior to the date that is sixty (60) days after the last day of the estimated time period set forth in the Casualty Statement (the date described in this clause (iii) being referred to herein as
the “Second Bite Date”), (iv) Tenant gives Landlord notice no earlier than the Second Bite Date to the effect that this Lease will terminate under this Section 15.5(B) if Landlord fails to Substantially Complete the restoration
within thirty (30) days after the Second Bite Date, and (v) Landlord fails to Substantially Complete the restoration within thirty (30) days after the Second Bite Date. 

(C) If the Term terminates as provided in this Section 15.5, then (I) Tenant shall vacate the Premises and surrender the Premises to
Landlord on the date of such termination “as is” and otherwise in accordance with the terms of this Lease that govern Tenant’s obligations upon the expiration or earlier termination of the Term, (II) any Rental due
hereunder shall be apportioned as of the date of such termination, and (III) any portion of the Rental that is then prepaid by Tenant and relates to the period after the date that the abatement of Rental as described in Section 15.3 hereof
becomes effective shall be promptly refunded by Landlord to Tenant (with the understanding that Landlord’s obligation to make any such refund shall survive such termination of this Lease). 

15.6. Termination Rights at End of Term. 

If the Premises are substantially damaged by a fire or other casualty that occurs during the period of twelve (12) months immediately
preceding the Fixed Expiration Date, then either Landlord or Tenant may elect to terminate this Lease by notice given to the other party within thirty (30) days after such fire or other casualty occurs. If either party makes such election, then
the Term shall expire on the thirtieth (30th) day after the notice of such election is given, and, accordingly, Tenant, on or prior to such thirtieth (30th) day, shall vacate the Premises and surrender the Premises to Landlord in accordance with the
provisions of this Lease that govern Tenant’s obligation to deliver vacant and exclusive possession of the Premises to Landlord upon the expiration of the Term. Upon the termination of this Lease under this Section 15.6, the Rental shall
be apportioned and any prepaid portion of the Rental for any period after the Expiration Date shall be refunded promptly by Landlord to Tenant (and Landlord’s obligation to make such refund shall survive the Expiration Date). For purposes of
this Section 15.6, the term “substantially damaged” shall mean that: (a) a fire or other casualty precludes Tenant from using more than thirty percent (30%) of the Premises for the conduct of its business, and
(b) Tenant’s inability to so use the Premises (or the applicable portion thereof) is reasonably expected to continue until at least the earlier to occur of (i) the Fixed Expiration Date, and (ii) the ninetieth (90th) day after
the date that such fire or other casualty occurs. 
 15.7. No Other Termination Rights. 

Tenant shall have no right to cancel this Lease by virtue of a fire or other casualty except to the extent specifically set forth herein. This
Article 15 is intended to constitute an “express agreement to the contrary” for purposes of Section 227 of the New York Real Property Law. 

  
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 Article 16 

CONDEMNATION 
 16.1.
Effect of Condemnation. 
 (A) Subject to the provisions of Section 16.2 hereof, if the entire Real Property, the entire
Building or the entire Premises is condemned or otherwise acquired by the exercise of the power of eminent domain, then this Lease shall terminate as of the date that such condemnation or acquisition is consummated. 

(B) If only a part of the Real Property and not the entire Premises is so acquired or condemned, then: 

(1) except as hereinafter provided in this Section 16.1, this Lease shall remain effective, and, from and after the date that the
condemnation or acquisition is consummated, (w) the Fixed Rent shall be reduced in the proportion that the number of square feet of Rentable Area of the part of the Premises so acquired or condemned bears to the total Rentable Area of the
Premises immediately prior to such acquisition or condemnation, (x) Tenant’s Tax Share shall be redetermined based upon the proportion that the number of square feet of Rentable Area of the Premises that is remaining after such acquisition
or condemnation bears to the number of square feet of Rentable Area of the Building that is remaining after such acquisition or condemnation, and (y) Tenant’s Operating Expense Share shall be redetermined based upon the proportion that the
number of square feet of Rentable Area of the Premises remaining after such acquisition or condemnation bears to the number of square feet of Rentable Area of the Building remaining after such acquisition or condemnation (other than any retail
portion of the Building); 
 (2) on or prior to the sixtieth (60th) day after the date that the condemnation or acquisition is consummated,
Landlord shall have the right to terminate this Lease by giving notice to Tenant if either (i) at least fifteen percent (15%) of the Usable Area of the Premises is so acquired or condemned, or (ii) Landlord terminates leases (including
this Lease) for at least seventy-five percent (75%) of the Usable Area of the Building (excluding any portion of the Building leased to or occupied by Landlord or Landlord’s Affiliates); and 

(3) if (a) the part of the Real Property so acquired or condemned contains more than fifteen percent (15%) of the Usable Area of the
Premises immediately prior to such acquisition or condemnation, or (b) by reason of such acquisition or condemnation, Tenant no longer has reasonable means of access to the Premises, then Tenant may elect to terminate this Lease by giving
notice to Landlord on or prior to the sixtieth (60th) day after the date that Tenant is given notice of such acquisition or condemnation being consummated. 

The Term shall expire on the thirtieth (30th) day after the date that Landlord or Tenant gives any such notice to terminate this Lease. 

(C) Landlord shall refund to Tenant, promptly after the date that such taking or acquisition becomes effective, any Rental that Tenant has
theretofore paid for the Premises (or the applicable portion thereof that is so taken or acquired) to the extent that such Rental is properly allocable to the period after the date that such taking or acquisition becomes effective (and
Landlord’s obligation to make such refund shall survive the Expiration Date). 

  
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 (D) If this Lease terminates pursuant to the provisions of this Section 16.1, then the
Rental for the portion of the Premises that is not taken or acquired shall be apportioned as of the termination date. Landlord shall refund promptly to Tenant any Rental that Tenant has theretofore paid for any period after the date that such
termination becomes effective (and Landlord’s obligation to make such refund shall survive the Expiration Date). 
 (E) If a part of
the Premises is so acquired or condemned and this Lease and the Term is not terminated pursuant to the foregoing provisions of this Section 16.1, then Landlord, at Landlord’s expense, shall restore the part of the Premises that is not so
acquired or condemned to a self-contained rental unit inclusive of Alterations that Tenant has theretofore Substantially Completed, except that if such acquisition or condemnation occurs prior to the Substantial Completion of the Initial
Alterations, then Landlord shall only be required to restore the part of the Premises not so acquired or condemned to a self-contained rental unit exclusive of any such Alterations that have not been so Substantially Completed. 

16.2. Condemnation Award. 

Subject to Section 16.3 hereof, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation of all or
any part of the Real Property. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term, and, accordingly, Tenant hereby expressly assigns to Landlord all of its right in and to any
such award. Nothing contained in this Section 16.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant’s Property included in such taking, for any moving expenses or
for the costs incurred by Tenant in performing the Initial Alterations (prior to Tenant’s Substantial Completion thereof) in the portion of the Premises that is not so condemned or acquired. 

16.3. Temporary Taking. 

If the whole or any part of the Premises is acquired or condemned temporarily during the Term, then (a) Tenant shall give prompt notice
thereof to Landlord, (b) the Term shall not be reduced or affected in any way, (c) Tenant shall continue to pay in full all items of Rental payable by Tenant hereunder without reduction or abatement, and (d) Tenant shall be entitled
to receive for itself any award or payments for such use, provided, however, that if the acquisition or condemnation is for a period extending beyond the Term, then such award or payment shall be apportioned equitably between Landlord and Tenant.
Tenant, at Tenant’s expense, shall make Alterations to restore the Premises to the condition existing prior to any such temporary acquisition or condemnation. 

  
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 Article 17 

ASSIGNMENT AND SUBLETTING 

17.1. General Limitations. 

(A) Subject to the terms of this Article 17, without the prior consent of Landlord in each instance, Tenant shall not, and Tenant shall not
permit any other Permitted Party to, consummate a Transfer. The term “Transfer” shall mean: 
 (1) (a) an assignment of a
Permitted Party’s rights under, or a delegation of such Permitted Party’s duties under, the applicable Occupancy Agreement by express assignment or by operation of law or by other means, (b) a mortgage or other encumbrance of such
Permitted Party’s interest in the applicable Occupancy Agreement, in whole or in part, (c) a subletting, or further subletting, of the Premises or any part thereof, or (d) the occupancy of the Premises or any part thereof by any
Person other than such Permitted Party; and 
 (2) any transaction that modifies or supplements (or further modifies or supplements) an
Occupancy Agreement to decrease the rental that is payable thereunder, to change the premises that is demised thereby, or to change the term thereof, in either case in any material respect (it being understood that (i) a termination or
cancellation of an Occupancy Agreement shall not constitute a Transfer for purposes hereof, and (ii) such modification or supplement shall be treated for purposes hereof as a transaction on the terms of such Occupancy Agreement, as so modified
or supplemented, for the balance of the term thereof). 
 (B) The term “Occupancy Agreement” shall mean the lease,
sublease, license or other agreement pursuant to which a Permitted Party has the right to occupy the Premises (or the applicable portion thereof). 

(C) The term “Permitted Party” shall mean Tenant and any other Person that has the right to occupy the Premises (or any part
thereof) in accordance with the terms of this Article 17 (other than a Person that has the right to occupy the Premises (or the applicable part thereof) by virtue of Landlord’s exercising Landlord’s rights under Section 17.3 hereof).

 (D) Subject to Section 17.8 hereof, the transfer of Control in a Permitted Party, however accomplished, whether in a single
transaction or in a series of unrelated or related transactions, shall constitute an assignment of such Permitted Party’s interest in the applicable Occupancy Agreement for purposes of this Article 17. 

(E) The consent by Landlord to any Transfer shall not relieve Tenant from its obligation to obtain the prior consent of Landlord to any other
Transfer to the extent required by this Lease. 
 (F) The assignment by any Person that constitutes Tenant of the tenant’s interest
under this Lease shall not relieve such Person of the obligations of the tenant under this Lease. Such Person’s liability under this Lease shall continue notwithstanding (x) the subsequent release of any other Person that constitutes
Tenant from liability under this Lease, (y) any limitation on any such other Person’s liability hereunder by virtue of the Bankruptcy Code, or (z) any modification or amendment of this Lease that Landlord consummates with any such
other Person that constitutes Tenant subsequently; provided, however, that if such other Person is not an Affiliate of such Person, then any such modification or amendment shall not expand such Person’s liability hereunder. 

  
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 (G) Notwithstanding anything to the contrary contained herein, Tenant shall not, and Tenant
shall not permit any other Permitted Party to, enter into any lease, sublease, license, concession or other agreement for use or occupancy of the Premises or any portion thereof which provides for a rental or other payment for such use or occupancy
based in whole or in part on the net income or profits derived by any Person from the property leased, occupied or used, or which would require the payment of any consideration that would not qualify as “rents from real property,” as that
term is defined in Section 856(d) of the Internal Revenue Code of 1986, as amended. 
 (H) If Tenant assigns the tenant’s interest
under this Lease in violation of the terms of this Article 17, then such assignment shall be void and of no force and effect against Landlord; provided, however, that Landlord (x) may collect an amount equal to the then Rental from the assignee
as a fee for such assignee’s use and occupancy, and (y) shall apply the net amount collected to the Rental reserved in this Lease. If the Premises or any part thereof are sublet to, occupied by, or used by any Person other than Tenant
(regardless of whether such subletting, occupancy or use violates this Article 17), then Landlord (a) after the occurrence of an Event of Default, may collect amounts from the subtenant, user or occupant as a fee for its use and occupancy, and
(b) shall apply the net amount collected to the Rental reserved in this Lease. No such assignment, subletting, occupancy or use, with or without Landlord’s prior consent, nor any such collection or application of fees for use and
occupancy, shall (i) be deemed a waiver by Landlord of any term, covenant or condition of this Lease, (ii) be deemed the acceptance by Landlord of such assignee, subtenant, occupant or user as tenant hereunder, or (iii) relieve Tenant
of the obligations of the tenant under this Lease. 
 17.2. Landlord’s Expenses. 

Tenant shall reimburse Landlord for any reasonable processing fee, any reasonable Out-of-Pocket Costs that Landlord incurs in connection with any proposed Transfer, including, without limitation, reasonable attorneys’ fees and disbursements, and the reasonable costs of making
investigations as to the acceptability of the proposed Transferee, within thirty (30) days after Landlord gives to Tenant an invoice therefor together with reasonable supporting documentation for the charges set forth therein. 

17.3. Recapture Procedure. 

(A) Tenant shall have the right to institute the procedure described in this Section 17.3 (the “Recapture Procedure”)
only by giving to Landlord notice thereof (a “Transfer Notice”), which: 
 (1) refers expressly to this Section 17.3
and indicates that such notice constitutes a Transfer Notice, 

  
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 (2) sets forth a description of the Premises (or the portion thereof) that is involved in
the proposed Transfer (the Premises, or the portion thereof, that is involved in the proposed Transfer being referred to herein as the “Recapture Space”), 

(3) includes a copy of the documents that Tenant intends to use to evidence the proposed Transfer, 

(4) identifies the Person to which Tenant proposes to make the Transfer (the Person to which a Transfer is made being referred to herein as a
“Transferee”), and 
 (5) sets forth the date on which Tenant proposes that the term of a Transfer that constitutes a
sublease, license or other similar agreement that grants occupancy rights will commence, or that a Transfer that constitutes an assignment will occur, as the case may be (such date being referred to herein as the “Transfer Date”)
(it being understood that the Transfer Date shall be no sooner than forty-five (45) days, and no later than two hundred seventy (270) days, after the date that Tenant gives the Transfer Notice to Landlord) (the material terms of a proposed
Transfer as set forth in the Transfer Notice being referred to herein as the “Proposed Transfer Terms”). 
 (B) The term
“Transfer Expenses” shall mean the actual Out-of-Pocket Costs that the Permitted Party that makes the applicable Transfer (the
“Transferor”) pays solely in consummating a Transfer, including, without limitation, (i) brokerage commissions, (ii) allowances that a Transferor makes available to the Transferee to fund the cost of Alterations that the
Transferee makes to the Premises (or the applicable portion thereof that is involved in the Transfer), (iii) costs that a Transferor pays in making Alterations to prepare the Premises (or the applicable portion thereof that is involved in the
Transfer) solely for the Transferee’s initial occupancy, (iv) the amount payable to Landlord under Section 17.2 hereof for such Transfer, (v) reasonable attorneys’ fees and disbursements that a Transferor pays in connection
with consummating such Transfer, (vi) the amount of free rent and other rent concessions that a Transferor grants to the Transferee and (vii) the transfer taxes (and other similar charges and fees) that Tenant pays pursuant to
Section 17.6 hereof. 
 (C) The term “Amortized Transfer Expenses” shall mean, with respect to any period, the amount
of the Transfer Expenses that amortize during such period if the Transfer Expenses are amortized, in equal monthly installments, with interest calculated at the Base Rate, over the period that the Transferee is obligated to make payments to a
Transferor in respect of the applicable Transfer. 
 (D) The term “Recapture Date” shall mean the thirtieth (30th) day
after the date that Tenant gives the Transfer Notice to Landlord. 
 (E) 

(1) If (x) Tenant gives a Transfer Notice to Landlord, and (y) the Transfer described in the Transfer Notice constitutes a sublease
for the Recapture Space with respect to which the term thereof expires on or prior to the date that is twelve (12) months before the Fixed Expiration Date (any sublease that expires before such date being referred to herein as a

  
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“Short Term Sublease”), then Landlord shall have the right to sublease (or to cause the Recapture Subtenant to sublease) the Recapture Space from Tenant, on
the terms set forth in this Section 17.3(E), by giving notice thereof (the “Recapture Sublease Notice”) to Tenant not later than the Recapture Date (as to which date time shall be of the essence) (any such sublease of the
Recapture Space that Landlord elects to consummate under this Section 17.3(E) being referred to herein as a “Recapture Sublease”). 

(2) If Landlord gives a Recapture Sublease Notice to Tenant, then Tenant shall, and Landlord shall (or Landlord shall cause the Recapture
Subtenant to), consummate a Recapture Sublease for the Recapture Space on the following terms: 
 (a) Landlord shall give to Tenant, within
twenty (20) days after the date that Landlord gives to Tenant the Recapture Sublease Notice, a proposed sublease that conforms with the terms set forth in this Section 17.3(E) and is otherwise on the terms set forth in this Lease. Tenant
shall execute and deliver such sublease promptly after Landlord’s submission thereof to Tenant. Landlord shall execute and deliver (or cause the Recapture Subtenant to execute and deliver) such sublease promptly after Tenant delivers to
Landlord the counterpart thereof that is executed by Tenant. 
 (b) Landlord shall have the right to designate that the subtenant under the
Recapture Sublease is a Person other than Landlord (the Person that constitutes the subtenant under a Recapture Sublease being referred to herein as the “Recapture Subtenant”). 

(c) The rental payable by the Recapture Subtenant to Tenant shall be calculated on either of the following methods, as designated by Landlord
(with the understanding that Landlord shall be deemed to have elected clause (i) below if Landlord does not designate otherwise in the Recapture Sublease Notice): 

(i) the excess of (I) the rental that would have been payable by the Transferee for the applicable calendar month as contemplated by the
Proposed Transfer Terms, over (II) the Amortized Transfer Expenses for such month that would have resulted from the Proposed Transfer Terms; or (ii) the Fixed Rent and the Escalation Rent that is due under this Lease for the Recapture
Space. 
 (d) The term of the Recapture Sublease shall commence on the Transfer Date and shall extend for the term set forth in the Transfer
Notice as part of the Proposed Transfer Terms (with the understanding that the Recapture Subtenant shall have the right to extend the term of the Recapture Sublease for a term that corresponds, or for terms that correspond, to any renewal right or
renewal rights that are set forth in the Transfer Notice as part of the Proposed Transfer Terms). 
 (e) If, during the term of the
Recapture Sublease (or during the period that the Recapture Subtenant, or any Person claiming by, through or under the Recapture Subtenant, remains in occupancy of the Recapture Space after the term of the Recapture Sublease expires or earlier
terminates), an event or circumstance occurs that is attributable to the Recapture Subtenant (or a Person claiming by, through or under the Recapture Subtenant), then such event or circumstance shall not constitute a default by Tenant hereunder
(and, accordingly, Tenant shall not have liability to Landlord in connection therewith). 

  
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 (f) Tenant shall have the right to offset against the Rental due hereunder an amount equal
to the rental that the Recapture Subtenant fails to pay when due to Tenant. 
 (g) The Recapture Subtenant (and any Person claiming by,
through or under the Recapture Subtenant), during the term of the Recapture Sublease, shall have the right to make alterations to the Recapture Space; provided, however, that the Recapture Subtenant shall be required to restore the Recapture Space
upon the expiration of the term of the Recapture Sublease to the extent required by the applicable Proposed Transfer Terms. 
 (h) If the
Recapture Space does not constitute the entire Premises, then Tenant, at Tenant’s expense, shall cause the Recapture Space to be demised separately from the remainder of the Premises on or prior to the Transfer Date (except that Landlord shall
so demise the Recapture Space separately from the remainder of the Premises, at Landlord’s cost, to the extent provided in the applicable Proposed Transfer Terms). 

(i) The Recapture Subtenant shall have the right to further sublease the Recapture Space, or assign the Recapture Subtenant’s rights as
subtenant under the Recapture Sublease, to any third party, without Tenant having any rights to consent thereto or to receive additional payments from the Recapture Subtenant in connection therewith. 

(j) The Recapture Subtenant shall not have the right to receive from Tenant any free rent, tenant improvement allowance or other similar
concession that constitutes part of the Proposed Transfer Terms. 
 (F) 

(1) If (x) Tenant gives a Transfer Notice to Landlord, and (y) the Transfer described in the Transfer Notice constitutes either a
sublease for the Recapture Space (other than a Short-Term Sublease) or an assignment, then Landlord shall have the right to terminate this Lease with respect to the Recapture Space, on the terms set forth in this Section 17.3(F), by giving
notice thereof (the “Recapture Termination Notice”) to Tenant not later than the Recapture Date (any such termination of this Lease with respect to the Recapture Space being referred to herein as a “Recapture
Termination”). 
 (2) If (x) Landlord gives to Tenant a Recapture Termination Notice, and (y) the Recapture Space
constitutes the entire Premises, then the Term shall terminate on the Transfer Date. If the Term so terminates on the Transfer Date, then Tenant, on the Transfer Date, shall vacate the Premises and deliver exclusive possession thereof to Landlord in
accordance with the terms of this Lease that govern Tenant’s obligations upon the expiration or earlier termination of the Term. 

  
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 (3) If (x) Landlord gives to Tenant a Recapture Termination Notice, and (y) the
Recapture Space does not constitute the entire Premises, then: 
 (a) Tenant, at Tenant’s expense, shall demise the Recapture Space
separately from the remainder of the Premises on or prior to the Transfer Date (except that Landlord shall so demise the Recapture Space separately from the remainder of the Premises, at Landlord’s cost, to the extent provided in the applicable
Proposed Transfer Terms), 
 (b) effective as of the Transfer Date, Tenant’s Operating Expense Share shall be redetermined based on the
ratio that (I) the number of square feet of Rentable Area of the Premises that remains after excluding therefrom the Recapture Space, bears to (II) the number of square feet of Rentable Area of the Building (other than any retail portion
thereof), 
 (c) effective as of the Transfer Date, Tenant’s Tax Share shall be redetermined based on the ratio that (I) the
number of square feet of Rentable Area of the Premises that remains after excluding therefrom the Recapture Space, bears to (II) the number of square feet of Rentable Area of the Building (including, without limitation, the retail portion
thereof), 
 (d) the Fixed Rent as set forth in Article 2 hereof from and after the Transfer Date shall be reduced by an amount equal to the
Fixed Rent that would have been due under this Lease for the applicable portion of the Premises that constitutes the Recapture Space, and 

(e) Tenant, on the Transfer Date, shall vacate the Recapture Space and deliver exclusive possession thereof to Landlord in accordance with the
terms of this Lease that govern Tenant’s obligations upon the expiration or earlier termination of the Term; and 
 (f) effective as of
the Transfer Date, the references in this Lease to the Premises shall be deemed to be references to the Premises (other than the Recapture Space). 

(4) If (x) Landlord elects to consummate a Recapture Termination, and (y) the Transfer described in the applicable Transfer Notice
constitutes a sublease or sublicense, then Tenant shall pay to Landlord, as additional rent, on the first day of each calendar month during the period from the Transfer Date to the date that the term of such sublease or sublicense would have expired
under the Proposed Transfer Terms, an amount equal to the excess (if any) of: 
 (a) the Fixed Rent and the Escalation Rent that would have
otherwise been due under this Lease since the Transfer Date for the Premises (or the applicable portion thereof that constitutes the Recapture Space), over 

(b) the sum of (A) the excess of (I) the rental that would have been payable by the Transferee since the Transfer Date as
contemplated by the Proposed Transfer Terms, over (II) the Amortized Transfer Expenses under the Proposed Transfer Terms that would have theretofore accrued, and (B) the amounts theretofore paid by Tenant to Landlord under this
Section 17.3(F)(4) in respect of such Recapture Termination. 

  
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 Tenant’s obligation to pay such amount to Landlord shall survive the termination of
this Lease (or the termination of this Lease only with respect to the Recapture Space, as the case may be). 
 (5) If (x) Landlord
elects to consummate a Recapture Termination, and (y) the Transfer described in the applicable Transfer Notice constitutes an assignment of Tenant’s interest under this Lease, then Tenant shall pay to Landlord the sum of: 

(a) the present value of the consideration (if any) that would have been payable by Tenant to the Transferee under the Proposed Transfer Terms
(calculated as of the Transfer Date using a discount rate equal to the Base Rate), and 
 (b) the excess, if any, of (I) the present
value of the Transfer Expenses that Tenant would have incurred under the Proposed Transfer Terms, over (II) the present value of the consideration (if any) that would have been payable by the Transferee to Tenant under the Proposed Transfer
Terms (in either case calculated as of the Transfer Date using a discount rate equal to the Base Rate). 
 Tenant shall pay the amounts
described in clauses (a) and (b) above on the Transfer Date. Tenant’s obligation to pay such amounts to Landlord shall survive the termination of this Lease (or the termination of this Lease only with respect to the Recapture Space, as the
case may be). 
 17.4. Certain Transfer Rights. 

Subject to Section 17.8 hereof, Landlord shall not unreasonably withhold, condition or delay Landlord’s consent to a Permitted
Party’s consummating a Transfer, provided that: 
 (A) Tenant has theretofore instituted the Recapture Procedure for such Transfer;
provided, however, that Tenant shall not be required to have instituted the Recapture Procedure for a Transfer that is proposed to be consummated by a Permitted Party other than Tenant; 

(B) Landlord’s right to elect to consummate a Recapture Sublease or a Recapture Termination (as the case may be) with respect to the
proposed Transfer has lapsed (without Landlord’s having exercised Landlord’s rights to consummate a Recapture Sublease or a Recapture Termination (as the case may be)); provided, however, that this Section 17.4(B) shall not apply for
a Transfer that is proposed to be consummated by a Permitted Party other than Tenant; 
 (C) the Transfer is on terms that are at least as
favorable to the Transferor as the Proposed Transfer Terms; provided, however, that this Section 17.4(C) shall not apply for a Transfer that is proposed to be consummated by a Permitted Party other than Tenant; 

(D) the Transfer occurs no earlier than the thirtieth (30th) day before the Transfer Date and no later than the thirtieth (30th) day after the
Transfer Date; provided, however, that this Section 17.4(D) shall not apply for a Transfer that is proposed to be consummated by a Permitted Party other than Tenant; 

  
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 (E) Tenant submits to Landlord a counterpart of the documents that the Transferor intends to
use to consummate the proposed Transfer, which have been executed and delivered by the proposed Transferor and the proposed Transferee, and which are subject to no conditions to the effectiveness thereof (other than Landlord’s granting
Landlord’s consent thereto); 
 (F) the Premises (or the applicable portion thereof) has not been listed or otherwise publicly
advertised at a rental rate that is less than the prevailing rental rate set by Landlord for comparable space in the Building, or, if there is no comparable space, the prevailing rental rate reasonably determined by Landlord (it being agreed that
nothing contained in this clause (F) prohibits a Permitted Party from (I) consummating a Transfer at a rental rate that is less than such prevailing rate, or (II) disseminating broker’s fliers or other marketing materials that
indicate that the rental rate for the Premises (or the applicable portion thereof) is available upon request); 
 (G) no Event of Default
has occurred and is continuing; 
 (H) the proposed Transferee has a financial standing (taking into consideration the obligations of the
Transferee under the applicable Occupancy Agreement) that is reasonably satisfactory to Landlord; 
 (I) the proposed Transferee is of a
character, is engaged in a business, and proposes to use the Premises (or the applicable portion thereof) in a manner that in each case is in keeping with the standards of a first-class office building in the vicinity of the Building; 

(J) the proposed Transferee, or any Affiliate of the proposed Transferee, does not occupy any space in the Building; 

(K) neither the proposed Transferee, nor an Affiliate of the proposed Transferee, is a Person with whom Landlord is then engaged in bona
fide negotiations regarding the leasing or subleasing of space in the Building; 
 (L) after taking into account the proposed Transfer,
there will not exist more than two (2) spaces in the Premises that are separately demised in any material respect; 
 (M) the
Transferor and each other Permitted Party (if any) whose interest is superior to the interest of the Transferor, and the Transferee, executes and delivers to Landlord a consent to the Transfer in a form reasonably designated by Landlord; 

(N) if the Transfer constitutes an assignment of the tenant’s interest under this Lease, the assignee has expressly assumed all of the
obligations of Tenant hereunder to the extent accruing from and after the date that the Transfer is effective; 
 (O) the proposed
Transferee does not violate the PWC Restrictions Clause that is attached hereto as Exhibit “17.9(C)”; and 

  
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 (P) if the Transfer constitutes a sublease (or a further sublease), such sublease provides
expressly that (i) such sublease is subject and subordinate to the Lease (and to the terms thereof), and (ii) if this Lease terminates, then Landlord, at Landlord’s option, may take over all of the right, title and interest of the
Transferor under such sublease, and the Transferee, at Landlord’s option, shall attorn to Landlord pursuant to the then executory provisions of such sublease, except that Landlord shall not be: 

(1) liable for any act or omission of the Transferor under such sublease (except for any such acts or omissions that (x) continue after
the date that Landlord succeeds to the interest of the Transferor under such sublease, and (y) may be remedied by the providing a service or performing a repair), 

(2) subject to any defense or offsets which the Transferee may have against the Transferor that accrue prior to the date that Landlord
succeeds to the interest of the Transferor, 
 (3) bound by any previous payment that the Transferee made to the Transferor more than thirty
(30) days in advance of the date that such payment was due (except for any Operating Expense Payments and/or Tax Payments made in accordance with the terms of this Lease), 

(4) bound by any obligation to make any payment to or on behalf of the Transferee that accrues prior to the date that Landlord succeeds to the
interest of the Transferor under such sublease, 
 (5) bound by any obligation to perform any work or to make improvements to the Premises,
or the applicable portion thereof demised by such sublease (other than the obligation to perform (a) maintenance or repairs, subject to the terms of this Lease, that in either case (i) first becomes necessary prior to the date that
Landlord succeeds to the interest of the Transferor under such sublease and the need for which shall be continuing after the date that Landlord succeeds to the interest of the Transferor under such sublease or (ii) first becomes necessary from
and after the date that Landlord succeeds to the interest of the Transferor under such sublease or (b) restoration that first becomes necessary from and after the date that Landlord succeeds to the interest of the Transferor under such
sublease) (with the understanding, however, that if (I) the Premises, or the applicable portion thereof, is damaged by fire or other casualty, or affected by condemnation, prior to the date that Landlord succeeds to the interest of the
Transferor under such sublease, (II) Landlord would have otherwise been required to perform the restoration of the Premises, or the applicable portion thereof, that is required by virtue of such fire or other casualty, or such condemnation, in
accordance with the terms hereof, and (III) Landlord does not elect to perform such restoration by giving notice thereof to the subtenant on or prior to the tenth (10th) day after the date
that Landlord so succeeds, then such subtenant shall have the right to terminate such sublease (and such subtenant’s obligation to so attorn to Landlord, as aforesaid) by giving notice thereof to Landlord within ten (10) days after the
last day of such period of ten (10) days during which Landlord has the right to give such notice to such subtenant), 

  
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 (6) bound by any amendment or modification of such sublease made without Landlord’s
consent, or 
 (7) bound to return the Transferee’s security deposit, if any, until such deposit has come into Landlord’s actual
possession and the Transferee is entitled to such security deposit pursuant to the terms of such sublease (the requirements of a proposed sublease as set forth in this Section 17.4(O) being collectively referred to herein as the “Basic
Sublease Provisions”). 
 17.5. Preliminary Approval. 

Tenant shall have the right to submit to Landlord a statement that describes in reasonable detail the basic terms of a proposed Transfer that
a Permitted Party proposes to consummate, and that identifies, and provides reasonable information that describes, the prospective Transferee (any such statement being referred to herein as a “Term Sheet”). Landlord shall not
unreasonably withhold, condition or delay Landlord’s approval of the transaction described in the Term Sheet, provided that the transaction as described therein satisfies the requirements set forth in clauses (A), (C), (D), (F), (G), (H), (I),
(J), (K), and (L) of Section 17.4 hereof Tenant acknowledges that the applicable Transfer shall remain subject to Landlord’s approval pursuant to Section 17.4 hereof (except that the scope of Landlord’s review of the
applicable Transfer under Section 17.4 hereof shall be limited as provided in this Section 17.5). If (i) Tenant gives to Landlord a Term Sheet in respect of a particular proposed Transfer as contemplated by this Section 17.5,
(ii) Landlord approves (or is deemed to have approved) such Transfer under this Section 17.5, (iii) Tenant submits to Landlord a counterpart of the definitive documents that the applicable Permitted Party proposes to use for the applicable
Transfer within one hundred eighty (180) days after the date that Tenant submits the Term Sheet to Landlord, and (iv) the terms of such definitive documents are consistent in all material respects with the terms set forth in the Term
Sheet, then Landlord shall not have the right to withhold consent to the applicable Transfer pursuant to clauses (A), (C), (D), (F), (G), (H), (I), (J), (K), and (L) of Section 17.4 hereof (it being understood, however, that Landlord shall
retain the right to object to the proposed Transfer to the extent that the applicable Transfer does not satisfy the requirements set forth in clauses (E), (M), (N) and (O) of Section 17.4 hereof). Landlord acknowledges that Tenant has the
right to give a Term Sheet to Landlord in respect of a particular proposed Transfer prior to the Recapture Date (with the understanding, however, that nothing contained in this Section 17.5 limits Landlord’s rights under Section 17.3
hereof). 
 17.6. Transfer Taxes. 

Tenant shall pay any transfer taxes (and other similar charges and fees) that any Governmental Authority imposes in connection with any
Transfer (including, without limitation, any such transfer taxes, charges or fees that a Governmental Authority imposes in connection with Landlord’s exercising Landlord’s rights to consummate a Recapture Sublease or a Recapture
Termination (as the case may be)). 
 17.7. Transfer Profit. 

(A) Subject to the terms of this Section 17.7 and Section 17.8 hereof, Tenant shall pay as additional rent to Landlord, on the first
(1st) day of each calendar month during the Term in the same manner as Fixed Rent, an amount equal to the excess of (I) fifty percent (50%) of the Transfer Profit for each Transfer that is determined as of the last day of the immediately
preceding calendar month, over (II) the aggregate amount of the payments that Tenant has theretofore paid to Landlord for such Transfer under this Section 17.7(A). 

  
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 (B) 

(1) The term “Transfer Profit” shall mean, with respect to any particular Transfer, the excess (if any) of (x) the
Transfer Inflow for such Transfer for the period beginning on the first (1’) day of the term of the applicable Transfer (if such Transfer is a sublease or sublicense) or the date that such Transfer becomes effective (if such Transfer is an
assignment of the tenant’s interest under this Lease or an assignment of the subtenant’s interest under a sublease or a sublicense (or further sublease or sublicense)) (as the case may be), over (y) the sum of (a) the Transfer
Outflow for such Transfer for such period, and (b) the Amortized Transfer Expenses for such Transfer for such period. 
 (2) The term
“Transfer Inflow” shall mean, with respect to any particular Transfer for any particular period, the amount that the Transferor receives during such period from or on behalf of the Transferee in connection with the applicable
Transfer (including, without limitation, amounts received by the Transferor which are nominally for something other than real property or personal property and which are in substance received in exchange for leasing the Premises or the applicable
portion thereof) ; provided, however, should any amount included in the Transfer Inflow cause the Transfer Profit to fail to qualify as “rents from real property” as that term is defined in Section 856(d) of the Internal Revenue Code
of 1986, as amended, the fair market value of such amount, as determined by Landlord, in its sole discretion, shall be excluded, from the Transfer Inflow and no Transfer Profit shall be paid to Landlord with respect to such excluded amount. 

(3) The term “Transfer Outflow” shall mean: 

(a) with respect to any Transfer that is a sublease or sublicense (or a further sublease or sublicense), the aggregate amount that the
Transferor pays during the applicable period for the Premises (or the applicable portion thereof that is involved in the Transfer) to the counterparty under the Occupancy Agreement through which the Transferor derives its rights to the Premises (or
the applicable portion thereof that is involved in the Transfer), and 
 (b) with respect to any Transfer that is an assignment of the
tenant’s interest under this Lease or the subtenant’s interest under a sublease or sublicense (or further sublease or sublicense), zero. 

(C) If the Transferor (or an Affiliate thereof) receives in a transaction that occurs concurrently with the applicable Transfer consideration
from the Transferee (or an Affiliate thereof) for the sale or lease of personal property or for services that the Transferor (or an Affiliate thereof) agrees to provide for the Transferee (or an Affiliate thereof), then (I) the Transfer Inflow
shall include (in addition to the consideration that the Transferor receives for the. Transfer) an amount equal to such other consideration, and (II) the Transfer Outflow shall 

  
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include (in addition to the items that are otherwise includible in Transfer Outflow for purposes hereof) (a) the cost that the Transferor (or such Affiliate thereof) incurs in acquiring the
personal property that the Transferor (or such Affiliate thereof) sells to the Transferee (or an Affiliate thereof) in such concurrent transaction (to the extent that such cost has not theretofore been amortized in accordance with GAAP), (b) the
amortization of the cost that the Transferor (or such Affiliate thereof) incurs in acquiring any personal property that the Transferor (or such Affiliate thereof) leases to the Transferee, or (c) the cost that the Transferor (or an Affiliate
thereof) incurs in providing such services, as the case may be. 
 17.8. Permitted Transfers. 

(A) The term “Net Worth Assignment Requirement” shall mean the requirement that Tenant has provided to Landlord, not later
than the tenth (10th) Business Day after the applicable assignment has been consummated, an audited balance sheet for the applicable Permitted Party and the assignee that in either case is dated
no earlier than the last day of the most recently ended fiscal quarter (or the last day of the fiscal quarter that immediately precedes the most recently ended fiscal quarter, if the applicable assignment occurs less than sixty (60) days after
the last day of the most recently ended fiscal quarter) and that reflects that the assignee’s tangible net worth, as determined in accordance with GAAP, is not less than the greater of (I) the tangible net worth of the applicable Permitted
Party on the Commencement Date (if the Transferor is Tenant) or on the first day of the term of the Occupancy Agreement through which the Transferor holds its interest in the Premises (if the Transferor is not Tenant), and (II) the tangible net
worth of such Permitted Party on the date of such most recent balance sheet, as aforesaid. 
 (B) A Permitted Party shall have the right to
assign such Permitted Party’s entire interest under the applicable Occupancy Agreement to an Affiliate of such Permitted Party without (x) Landlord’s prior approval, (y) Landlord’s having the right to consummate a Recapture
Termination in respect thereof, and (z) Tenant’s being required to pay Transfer Profit to Landlord in connection therewith, provided that in each case (i) Tenant gives to Landlord, not later than the tenth (10th) Business Day after
any such assignment is consummated, an instrument, duly executed by such Permitted Party and the aforesaid Affiliate of such Permitted Party, in form reasonably satisfactory to Landlord, to the effect that such Affiliate assumes all of the
obligations of such Permitted Party under such Occupancy Agreement to the extent arising from and after the date of such assignment, (ii) Tenant, with such notice, provides Landlord with reasonable evidence to the effect that the Person to
which such Permitted Party is so assigning such Permitted Party’s interest under such Occupancy Agreement constitutes an Affiliate of such Permitted Party, and (iii) the Net Worth Assignment Requirement is satisfied. 

(C) The merger or consolidation of a Permitted Party into or with another Person shall be permitted without (x) Landlord’s prior
approval, (y) Landlord’s having the right to consummate a Recapture Termination in respect thereof, and (z) Tenant’s being required to pay Transfer Profit to Landlord in connection therewith, provided that in each case
(i) such merger or consolidation is not principally for the purpose of transferring such Permitted Party’s interest in the applicable Occupancy Agreement, (ii) Tenant gives Landlord notice of such merger or consolidation not later
than the tenth (10th) Business Day after the occurrence thereof, (iii) Tenant, within ten (10) Business Days after such merger or consolidation, provides Landlord with reasonable evidence that the requirement described in clause
(i) above has been satisfied, and (iv) the Net Worth Assignment Requirement is satisfied. 

  
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 (D) The assignment of a Permitted Party’s entire interest under the applicable
Occupancy Agreement in connection with the sale of all or substantially all of the assets of such Permitted Party shall be permitted without (x) Landlord’s prior approval, (y) Landlord’s having the right to consummate a Recapture
Termination in respect thereof, and (z) Tenant’s being required to pay Transfer Profit to Landlord in connection therewith, provided that in each case (i) Tenant gives to Landlord, not later than the tenth (10th) Business Day after
any such assignment is consummated, an instrument, duly executed by such Permitted Party and the Transferee, in form reasonably satisfactory to Landlord, to the effect that such Transferee assumes all of the obligations of such Permitted Party to
the extent arising under the applicable Occupancy Agreement from and after the date of such assignment, (ii) such sale of all or substantially all of the assets of such Permitted Party is not principally for the purpose of transferring such
Permitted Party’s interest in such Occupancy Agreement, (iii) Tenant, within ten (10) Business Days after such sale, provides Landlord with reasonable evidence that the requirement described in clause (ii) above has been
satisfied, and (iv) the Net Worth Assignment Requirement is satisfied. 
 (E) The direct or indirect transfer of shares or equity
interests in a Permitted Party (including, without limitation, the issuance of treasury stock, or the creation or issuance of a new class of stock, in either case in the context of an initial public offering or in the context of a subsequent
offering of equity securities) shall be permitted without (x) Landlord’s prior approval, (y) Landlord’s having the right to consummate a Recapture Termination in respect thereof, and (z) Tenant’s being required to pay
Transfer Profit to Landlord in connection therewith, provided that in each case (i) such transfer is not principally for the purpose of transferring the interest of such Permitted Party under the applicable Occupancy Agreement, (ii) Tenant
gives Landlord notice of such transfer not later than the tenth (10th) Business Day after the occurrence thereof, and (iii) Tenant, within ten (10) Business Days after the date that such transfer occurs, provides Landlord with reasonable
evidence that the requirement described in clause (i) has been satisfied (except that Tenant shall not be required to comply with this clause (iii) to the extent that such direct or indirect transfer of shares or equity interests is
accomplished through the public “over-the-counter” securities market or through any recognized stock exchange). 

(F) A Permitted Party shall have the right to sublease or license (or further sublease or sublicense) the Premises, or any portion thereof, to
an Affiliate of such Permitted Party, without (x) Landlord’s prior approval, (y) Landlord’s having the right to consummate a Recapture Termination or a Recapture Sublease in respect thereof, and (z) Tenant’s being
required to pay Transfer Profit to Landlord in connection therewith, provided that in each case (i) Tenant gives to Landlord a copy of such sublease or license, not later than the tenth (10th) Business Day after any such sublease or license is
consummated, (ii) Tenant, with such copy of such sublease or license, provides Landlord with reasonable evidence to the effect that the Person to which such Permitted Party is so subleasing or licensing the Premises or a portion thereof
constitutes an Affiliate of such Permitted Party, and (iii) such sublease includes the Basic Sublease Provisions. 

  
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 (G) If (I) (i) a Permitted Party assigns such Permitted Party’s entire interest
under the applicable Occupancy Agreement to an Affiliate of such Permitted Party, or (ii) a Permitted Party subleases or licenses (or further subleases or sublicenses) all or part of the Premises to an Affiliate of such Permitted Party, in
either case without Landlord’s consent as provided in this Section 17.8 and without paying to Landlord any Transfer Profit that derives therefrom, and (II) the assignee or subtenant or sublicensee subsequently assigns the interest of
such assignee or such subtenant or sublicensee under the applicable Occupancy Agreement to a third party in a Transfer that is not governed by the provisions of this Section 17.8 or further subleases or sublicenses all or part of the Premises
to a third party in a Transfer that is not governed by the provisions of this Section 17.8, then, for purposes of calculating the Transfer Profit that is due to Landlord for such subsequent assignment or sublease or sublicense, the parties
shall assume that the assignment or sublease or sublicense that the Permitted Party consummated without Landlord’s approval under this Section 17.8 did not occur previously (and, accordingly, the parties, in calculating Transfer Profit for
such Transfer that is not governed by this Section 17.8, shall include any Transfer Profit that resulted from the prior Transfer from the Permitted Party to its Affiliate). 

17.9. Existing PriceWaterhouseCoopers Restrictions. 

(A) The term “PWC” shall mean, at any particular time, the Person that then holds the interest of the tenant under the PWC
Lease. 
 (B) The term “PWC Lease” shall mean the Lease, dated as of March 31, 2016, between Landlord, as landlord,
and PriceWaterhouseCoopers LLP, as tenant, as modified from time to time, but no modifications to the PWC Restrictions Clause shall be binding on Tenant, except as provided in Section 17.9(D) hereof. 

(C) The term “PWC Restrictions Clause” shall mean, collectively, the clauses that are attached hereto as Exhibit
“17.9(C)” and made a part hereof. 
 (D) Subject to the terms of this Section 17.9(D), Tenant shall not
assign this Lease to, or permit the Premises or any portion thereof to be subleased, used or occupied by, a Person that violates the PWC Restrictions Clause. Landlord hereby represents and warrants to Tenant that Exhibit “17.9(D)”
attached hereto and made a part hereof contains a true, correct and complete list of the Competitors (as such term is defined in the PWC Lease) as of the date hereof. Tenant shall not be bound by any update to the list of Competitors that PWC is
entitled to provide to Landlord under the PWC Lease unless and until Landlord gives Tenant a notice that includes a copy thereof and, in no event shall Tenant be in breach of the PWC Restrictions Clause for assigning or subleasing to a Person that
is not on the list of Competitors (that has been delivered to Tenant) on the date Tenant enters into such assignment or sublease; provided, however, in no event shall Tenant be permitted to assign or sublease to a Competitor Affiliate (as such term
is defined in the PWC Lease) of a Competitor on such list that has been delivered to Tenant. Landlord, promptly after Tenant’s request from time to time, shall advise Tenant regarding the extent to which PWC then remains entitled to its rights
under the PWC Restrictions Clause and shall provide Tenant with a copy of the then current list of Competitors for purposes thereof. 

  
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 17.10. Special Occupant. 

Tenant may permit portions of the Premises to be occupied, at any time and from time to time, by Persons who are not members, officers or
employees of Tenant (each such Person who is permitted to occupy portions of the Premises pursuant to this Section 17.10 being referred to herein as a “Special Occupant”), without (x) Landlord’s prior approval,
(y) Landlord’s having the right to consummate a Recapture Termination in respect thereof, and (z) Tenant being required to pay Transfer Profit to Landlord in connection therewith, provided that, in each case, (i) no demising
walls are erected in the Premises separating the space used by a Special Occupant from the remainder of the Premises, (ii) the Special Occupant uses the Premises in conformity with all applicable provisions of this Lease, (iii) the use of
any portion of the Premises by any Special Occupant shall not create any real property interest of the Special Occupant in or to the Premises, (iv) the portion of the Premises used by all Special Occupants shall not exceed fifteen percent (15%)
of the Rentable Area of the Premises, (v) such Person maintains a business relationship with Tenant (other than by virtue of such occupancy) and such business relationship extends during the term of such occupancy, (vi) the Special
Occupant does not pay for its occupancy rights an amount greater than the Rental that is reasonably allocable to the portion of the Premises that the Special Occupant has the right to occupy (it being understood that amounts that the Special
Occupant pays to Tenant to reimburse Tenant reasonably for customary office services shall not be included in the calculation of the amount that the Special Occupant pays for its occupancy rights as provided in this clause (vi)), and (vii) at
least ten (10) days prior to a Special Occupant taking occupancy of a portion of the Premises, Tenant gives notice to Landlord advising Landlord of (1) the name and address of such Special Occupant (other than individuals who use the
Premises on a temporary basis), (2) the character and nature of the business to be conducted by such Special Occupant, (3) the number of square feet of Rentable Area to be occupied by such Special Occupant, (4) the duration of such
occupancy, and (5) the fee, if any, to be paid by such Special Occupant for its use of the applicable portion of the Premises. Within ten (10) Business Days after request by Landlord from time to time but no more than four (4) times
per year, Tenant shall provide Landlord with a list of the names of all Special Occupants then occupying any portion of the Premises and a description of the spaces occupied thereby. Notwithstanding the foregoing to the contrary, Tenant shall not be
prohibited from permitting individuals to use the Premises on a temporary basis, from time to time in connection with performing services for Tenant only. 

Article 18 
 TENANT’S RIGHT
OF FIRST OFFER TO LEASE 
 18.1. Right of First Offer. 

(A) Landlord shall not lease to any Person other than Tenant or Landlord’s Affiliate the Option Space (or a part thereof) at any time
during the Term, without first instituting the procedure described in, and subject to the limitations set forth in, this Article 18. 

  
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 If Landlord leases the Option Space (or a part thereof) to Landlord’s Affiliate, or
Landlord’s Affiliate subleases the Option Space (or a part thereof) to Landlord’s Affiliate, in either case without first instituting the procedure described in this Article 18, then Landlord shall not permit Landlord’s Affiliate to
sublease (or further sublease) the Option Space (or a part thereof) to any Person other than Tenant or Landlord’s Affiliate without first instituting the procedure described in, and subject to the limitations set forth in, this Article 18. 

(B) The term “Option Space” shall mean the portion of the leasable space in the Building that is located on the twenty-fourth
(24th) floor of the Building, as shown cross-hatched on Exhibit “18.1” attached hereto and made a part hereof. 

18.2. Option Notice. 

Landlord shall institute the procedure described in this Article 18 by giving notice thereof (the “Option Notice”) to Tenant,
which Option Notice shall (i) describe the Option Space (or the applicable portion thereof) (the Option Space (or such portion thereof) that is described in a particular Option Notice being referred to herein as the “Applicable Option
Space”), (ii) have attached thereto a floor plan depicting the Applicable Option Space, (iii) set forth the date that Landlord reasonably expects that the Applicable Option Space will be vacant and available for Tenant’s occupancy
(such date designated by Landlord being referred to herein as the “Scheduled Option Space Commencement Date”), and (iv) set forth Landlord’s calculation of the number of square feet of Rentable Area in the Applicable
Option Space. 
 18.3. Option Procedure. 

Tenant shall have the option (the “Option”) to lease the Applicable Option Space for a term (the “Option
Term”) commencing on the Option Space Commencement Date and expiring on the Expiration Date by giving notice thereof (the “Option Response Notice”) to Landlord not later than the twentieth (20th) day after the date that
Landlord gives the Option Notice to Tenant. Time shall be of the essence as to the date by which Tenant must give the Option Response Notice to Landlord to exercise the Option. If Tenant does not give the Option Response Notice to Landlord on or
prior to the twentieth (20th) day after the date that Landlord gives the Option Notice to Tenant, then Landlord shall thereafter have the right to lease the Applicable Option Space (or any part thereof) to any other Person on terms acceptable to
Landlord in Landlord’s sole discretion without being required to make any other offer to Tenant regarding the Applicable Option Space under this Article 18 (and, accordingly, such Applicable Option Space shall not thereafter constitute Option
Space). Tenant shall not have the right to revoke an Option Response Notice given to Landlord pursuant to this Article 18. 
 18.4.
Certain Limitations. 
 (A) Tenant shall not have the right to exercise the Option (and, accordingly (x) Landlord shall have no
obligation to give an Option Notice to Tenant, and (y) Landlord shall have the right to lease the Applicable Option Space to any other Person without first offering the Applicable Option Space to Tenant as contemplated by this Article 18) if,
on the date that Landlord offers the Space for lease to the general public: 

  
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 (1) the Minimum Occupancy Requirement is not satisfied, 

(2) the Initial Tenant Requirement is not satisfied, 

(3) the Minimum Demise Requirement is not satisfied, or 

(4) the Applicable Option Space constitutes Recapture Space with respect to which Landlord exercised its rights under Section 17.3
hereof. 
 (B) Tenant shall not have the right to exercise the Option prior to (x) Landlord’s leasing the Option Space (or the
applicable portion thereof) to any Person that then occupies the Option Space (or such portion thereof) (regardless of whether such leasing is pursuant to an option or right contained in such Person’s lease), or (y) Landlord’s leasing
the Option Space (or the applicable portion thereof) to any Person in the first transaction that Landlord consummates from and after the date hereof, and, accordingly, (I) Landlord shall have no obligation to give an Option Notice to Tenant
with respect to the Option Space (or such portion thereof), and (II) Landlord shall have the right to lease the Option Space (or such portion thereof) to any such Person without first offering the Option Space (or the applicable portion
thereof) to Tenant as contemplated by this Article 18. 
 (C) Tenant’s exercise of the Option shall be ineffective if, on the date that
Tenant gives the Option Response Notice, an Event of Default has occurred and is continuing. If (i) Tenant exercises the Option, and (ii) at any time prior to the Option Space Commencement Date, (w) an Event of Default has occurred
and is continuing, (x) the Minimum Demise Requirement is not satisfied, (y) the Minimum Occupancy Requirement is not satisfied or (z) the Initial Tenant Requirement is not satisfied, then, at any time prior to the Option Space
Commencement Date, Landlord shall have the right to declare Tenant’s exercise of the Option ineffective by giving notice thereof to Tenant, in which case Landlord shall have the right to lease the Applicable Option Space (or any portion
thereof) to any other Person on terms acceptable to Landlord in Landlord’s sole discretion. 
 (D) Tenant shall not have the right to
exercise the Option from and after the Option Cutoff Date, and, accordingly, from and after the Option Cutoff Date, (I) Landlord shall have no obligation to give an Option Notice to Tenant with respect to the Option Space (or any portion
thereof), and (II) Landlord shall have the right to lease the Option Space (or such portion thereof) to any other Person without first offering the Option Space (or such portion thereof) to Tenant as contemplated by this Article 18. The term
“Option Cutoff Date” shall mean the date that is two (2) years before the Fixed Expiration Date. 
 (E) Tenant’s
right to lease the Applicable Option Space as set forth in this Article 18 shall be subject to any rights thereto that have been granted on or prior to the date hereof to other tenants of the Building. 

  
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 18.5. Lease Provisions Apply. 

If Tenant exercises the Option in accordance with the provisions of this Article 18, then, on the Option Space Commencement Date for the
Applicable Option Space, the following provisions shall become effective: 
 (A) The Applicable Option Space shall be added to the Premises
for purposes of this Lease (except as otherwise provided in this Section 18.5). 
 (B) The Tax Payment for each Tax Year from and after
the Option Space Commencement Date shall be increased to reflect the inclusion of the Option Space in the Premises by an amount equal to the product obtained by multiplying (I) the ratio (expressed as a percentage) that the number of square
feet of Rentable Area in the Applicable Option Space bears to the number of square feet of Rentable Area in the Building, by (II) the excess of (x) Taxes for the applicable Tax Year, over (y) the Taxes for the fiscal year during which
the Option Space Commencement Date occurs. 
 (C) The Operating Expense Payment for each Operating Expense Year from and after the Option
Space Commencement Date shall be increased to reflect the inclusion of the Option Space in the Premises by an amount equal to the product obtained by multiplying (I) the ratio (expressed as a percentage) that the number of square feet of
Rentable Area in the Applicable Option Space bears to the number of square feet of Rentable Area in the Building (other than any retail portion thereof), by (II) the excess of (x) Operating Expenses for the applicable Operating Expense
Year, over (y) the Operating Expenses for the calendar year during which the Option Space Commencement Date occurs. 
 (D) Landlord
shall not be obligated to perform any work or make any installations in the Applicable Option Space or grant Tenant a work allowance therefor. 

(E) The Fixed Rent for the Applicable Option Space shall be an amount equal to the Fair Market Rent therefor. 

18.6. Delivery. 

Landlord shall deliver vacant and exclusive possession of the Applicable Option Space to Tenant on the Scheduled Option Space Commencement
Date; provided, however, that (x) if a Person remains in occupancy of the Applicable Option Space (or any portion thereof) on the Scheduled Option Space Commencement Date, then Landlord, at Landlord’s expense, shall use reasonable
diligence to cause vacant and exclusive possession of the Applicable Option Space to be delivered to Tenant as promptly as reasonably practicable thereafter (the Scheduled Option Space Commencement Date, or such later date on which Landlord delivers
vacant and exclusive possession of the Applicable Option Space to Tenant as contemplated by this Section 18.6, being referred to herein as the “Option Space Commencement Date”), and (y) if such Person’s right to
remain in occupancy of the Applicable Option Space (or a portion thereof) terminates prior to the Scheduled Option Space Commencement Date, then Landlord shall have no liability to Tenant (except as otherwise set forth in clause (x) above), and
Tenant shall have no right to terminate or rescind this Lease or Tenant’s exercise of the Option or reduce the Rental, in each case deriving from Landlord’s failure to deliver vacant and exclusive possession of the Applicable Option Space
to Tenant on the Scheduled Option Space Commencement Date. Landlord and Tenant intend that this Section 18.6 constitutes an “express provision to the contrary” for purposes of Section 223-a of the New York Real Property Law. 

  
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 Article 19 

FAIR MARKET RENT 
 19.1.
Certain Definitions. 
 (A) The term “Fair Market Rent” shall mean annual fair market rental value. 

(B) The term “Applicable Area” shall mean the Applicable Option Space, in connection with the determination of the Fair
Market Rent thereof. 
 (C) The term “Applicable Date” shall mean the Scheduled Option Space Commencement Date, in
connection with the determination of the Fair Market Rent for the Applicable Option Space. 
 19.2. Fair Market Rent Assumptions.

 The Fair Market Rent shall be determined as of the Applicable Date assuming that the Applicable Area is free and clear of all leases and
tenancies (including this Lease), that the Applicable Area is available for the purposes permitted by this Lease in the then rental market, that Landlord has had a reasonable time to locate a tenant, and that neither Landlord nor the prospective
tenant is under any compulsion to rent, and taking into account all relevant factors. 
 19.3. Fair Market Procedure. 

(A) If Tenant exercises the Option, then Landlord and Tenant shall each deliver simultaneously to the other, at Landlord’s office, a
notice (each, a “Rent Notice”), on a date mutually agreed upon, but in no event later than the later to occur of (I) three (3) months before the Scheduled Option Space Commencement Date, and (II) the thirtieth (30th) day
after the date that Tenant gives the applicable Option Response Notice to Landlord, with respect to the Rent Notice for the determination of the Fair Market Rent for the Applicable Option Space, which Rent Notice shall set forth each of their
respective determinations of the Fair Market Rent (Landlord’s determination of the Fair Market Rent is referred to as “Landlord’s Determination” and Tenant’s determination of the Fair Market Rent is
referred to as “Tenant’s Determination”). If (i) Landlord fails to give Landlord’s Determination to Tenant, and (ii) Tenant tenders Tenant’s Determination to Landlord, then the Fair Market Rent
for the Applicable Area shall be Tenant’s Determination. If (i) Tenant fails to give Tenant’s Determination to Landlord, and (ii) Landlord tenders Landlord’s Determination to Tenant, then the Fair Market Rent for the
Applicable Area shall be Landlord’s Determination. 
 (B) If Tenant’s Determination is lower than Landlord’s Determination,
then Landlord and Tenant shall attempt in good faith to agree upon the Fair Market Rent for a period of thirty (30) days after the date that Landlord gives Landlord’s Determination to Tenant, and Tenant gives Tenant’s Determination to
Landlord. If Tenant’s Determination is higher than 

  
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Landlord’s Determination, then the Fair Market Rent for the Applicable Area shall be the average of Landlord’s Determination and Tenant’s Determination. If Landlord and Tenant do
not agree on the Fair Market Rent for the Applicable Area within thirty (30) days after the date that Landlord gives Landlord’s Determination to Tenant, and the date that Tenant gives Tenant’s Determination to Landlord, then Landlord
and Tenant shall select jointly an independent real estate appraiser that (i) neither Landlord nor Tenant, nor any of their respective Affiliates, has engaged during the immediately preceding period of three (3) years, and (ii) has at
least ten (10) years of experience in leasing properties that are similar in character to the Building (such appraiser being referred to herein as the “Appraiser”). Landlord and Tenant shall each pay fifty percent (50%) of the
Appraiser’s fee. If Landlord and Tenant do not agree on the Appraiser within ten (10) days after the last day of such period of thirty (30) days, then either party shall have the right to institute an Expedited Arbitration Proceeding
for the sole purpose of designating the Appraiser. 
 (C) The parties shall instruct the Appraiser to (i) conduct the hearings and
investigations that he or she deems appropriate, and (ii) choose either Landlord’s Determination or Tenant’s Determination as the better estimate of Fair Market Rent for the Applicable Area, within thirty (30) days after the date
that the Appraiser is designated. The Appraiser’s aforesaid choice shall be conclusive and binding upon Landlord and Tenant. Each party shall pay its own counsel fees and expenses, if any, in connection with the procedure described in this
Article 19. The Appraiser shall not have the power to supplement or modify any of the provisions of this Lease. 
 (D) If the final
determination of the Fair Market Rent is not made on or before the Applicable Date in accordance with the provisions of this Article 19, then, pending such final determination, the Fair Market Rent shall be deemed to be an amount equal to the
average of Landlord’s Determination and Tenant’s Determination. If, based upon the final determination hereunder of the Fair Market Rent, the payments made by Tenant on account of the Rental for the period prior to the final determination
of the Fair Market Rent were less than the Rental payable for such period, then Tenant, not later than the tenth (10th) day after Landlord’s demand therefor, shall pay to Landlord the amount of such deficiency, together with interest thereon at
the Base Rate. If, based upon the final determination of the Fair Market Rent, the payments made by Tenant on account of the Rental for the period prior to the final determination of the Fair Market Rent were more than the Rental due hereunder for
such period, then Landlord, not later than the tenth (10th) day after Tenant’s demand therefor, shall pay such excess to Tenant, together with interest thereon at the Base Rate (it being agreed that if Landlord fails to make such payment within
thirty (30) days after Tenant’s demand therefor, then Tenant shall have the right to apply against the Rental thereafter coming due hereunder a credit in an aggregate amount equal to such excess and such interest, until such credit is
exhausted). 

  
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 Article 20 

DEFAULT 
 20.1. Events
of Default. 
 The term “Event of Default” shall mean the occurrence of any of the following events: 

(A) Tenant fails to pay any installment of Fixed Rent when due and such failure continues for five (5) Business Days after the date that
Landlord gives notice of such failure to Tenant; provided, however, that if (x) Tenant fails to pay any installment of Fixed Rent when due, (y) Tenant has theretofore failed to pay at least three (3) installments of Fixed Rent when
due during the immediately preceding period of twelve (12) months, and (z) Landlord has theretofore given Tenant notice of Tenant’s aforesaid failure to pay when due at least three (3) installments of Fixed Rent during such
period of twelve (12) months, then Tenant’s failure to pay such installment of Fixed Rent shall constitute an Event of Default (without Landlord’s being required to first give Tenant notice of such failure and an opportunity to cure
such failure, as aforesaid); 
 (B) Tenant fails to pay any installment of Rental (other than Fixed Rent) when due and such failure
continues for seven (7) Business Days after the date that Landlord gives notice of such failure to Tenant; 
 (C) a Permitted
Party’s interest under the applicable Occupancy Agreement devolves upon or passes to any other Person, whether by operation of law or otherwise, except as expressly permitted under Article 17 hereof, and such Transfer is not reversed within ten
(10) days after the date that such Transfer occurs; 
 (D) Tenant defaults in respect of Tenant’s obligations under
Section 4.9 hereof, and such default continues for more than three (3) Business Days after Landlord gives Tenant notice thereof; 

(E) Tenant defaults in respect of Tenant’s obligations under Section 7.5(A)(4) hereof, and such default continues for more than five
(5) Business Days after Landlord gives Tenant notice thereof; 
 (F) (i) Landlord presents the Letter of Credit for payment in
accordance with the terms hereof, (ii) the issuer thereof fails to make payment thereon in accordance with the terms thereof, and (iii) either Tenant or such issuer fails to make such payment to Landlord within two (2) Business Days
after the date that Landlord gives Tenant notice of such failure of such issuer; 
 (G) Tenant fails to provide Landlord with a replacement
Letter of Credit after Landlord presents the Letter of Credit for payment to apply the proceeds thereof after the occurrence of an Event of Default as provided in Section 24.2 hereof within five (5) Business Days after the date that
Landlord gives Tenant notice demanding that Tenant provide such replacement; 

  
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 (H) an Insolvency Event occurs; 

(I) Tenant defaults in the observance or performance of any other covenant of this Lease on Tenant’s part to be observed or performed and
Tenant fails to remedy such default within thirty (30) days after Landlord gives Tenant notice thereof, except that if (i) such default cannot be remedied with reasonable diligence during such period of thirty (30) days, (ii) Tenant
takes reasonable steps during such period of thirty (30) days to commence Tenant’s remedying of such default, and (iii) Tenant prosecutes diligently Tenant’s remedying of such default to completion, then an Event of Default shall
not occur by reason of such default; or 
 (J) the Premises are abandoned. 

20.2. Termination. 
 If
(1) an Event of Default occurs, and (2) Landlord, at any time thereafter, at Landlord’s option, gives a notice to Tenant stating that this Lease and the Term shall expire and terminate on the third (3rd) Business Day after the date
that Landlord gives Tenant such notice, then this Lease and the Term and all rights of Tenant under this Lease shall expire and terminate as of the third (3rd) Business Day after the date that Landlord gives Tenant such notice, and Tenant
immediately shall quit and surrender the Premises, but Tenant shall nonetheless remain liable for all of its obligations hereunder, as provided in Article 22 hereof and Article 23 hereof; provided, however, that if the Event of Default derives from
an Insolvency Event, then the provisions of Article 21 hereof shall apply. Notwithstanding anything to the contrary contained in this Article 20, in the event of a monetary default by Tenant under this Lease, Landlord retains its right to avail
itself of any and all remedies provided for in Section 711(2) of the New York Real Property Actions and Proceedings Law (the “RPAPL”) and, in the event that Landlord elects to avail itself of its rights thereunder, no Event of
Default need be declared by Landlord and no notices need be served by Landlord under this Article 20 or this Lease; instead, in such instances, Landlord shall be required to serve upon Tenant only such notice(s) as may be required by said
Section 711(2) of the RPAPL, including, without limitation, a statutory demand for rent. 
 Article 21 

TENANT’S INSOLVENCY 

21.1. Assignments pursuant to the Bankruptcy Code. 

(A) The term “Bankruptcy Code” shall mean 11 U.S.C. Section 101 et seq., or any statute of similar nature and purpose.

 (B) If Tenant, Tenant’s trustee or Tenant as
debtor-in-possession (each, an “Insolvency Party”) proposes to assign the tenant’s interest hereunder pursuant to the provisions of the Bankruptcy
Code to any Person that has made a bona fide offer to accept an assignment of the tenant’s interest under this Lease on terms acceptable to Tenant, then the Insolvency Party shall give to Landlord notice of such proposed assignment no
later than twenty (20) days after the date that the Insolvency Party receives such offer, but in any event no later than ten (10) days before the date that the Insolvency Party makes application to a court of competent jurisdiction for
authority and approval to consummate such assignment. Such notice given by 

  
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the Insolvency Party to Landlord shall (a) set forth the name and address of such Person that has made such bona fide offer, (b) set forth all of the terms and conditions of such
bona fide offer, and (c) confirm that such Person will provide to Landlord adequate assurance of future performance that conforms with the terms of Section 21.1(D) hereof. Landlord shall have the right to accept an assignment of
this Lease upon the same terms and conditions and for the same consideration, if any, as the bona fide offer made by such Person (less any brokerage commissions that would otherwise be payable by the Insolvency Party out of the consideration
to be paid by such Person in connection with such assignment of the tenant’s interest under this Lease), by giving notice thereof to the Insolvency Party at any time prior to the effective date of such proposed assignment. 

(C) Tenant shall pay to Landlord an amount equal to the reasonable
Out-of-Pocket Costs that Landlord incurs in connection with Tenant’s assignment of the tenant’s interest hereunder pursuant to the provisions of the Bankruptcy
Code, within thirty (30) days after Landlord’s submission to Tenant of an invoice therefor that contains reasonable supporting documentation for the charges described therein. 

(D) A Person that submits a bona fide offer to take by assignment the tenant’s interest under this Lease as described in
Section 21.1(B) hereof shall be deemed to have provided Landlord with adequate assurance of future performance only if such Person (a) deposits with Landlord simultaneously with such assignee’s taking by assignment the tenant’s
interest under this Lease an amount equal to the then annual Fixed Rent, as security for the faithful performance and observance by such assignee of the tenant’s obligations of this Lease (and such Person gives to Landlord, at least five
(5) days prior to the date that the proposed assignment becomes effective, information reasonably satisfactory to Landlord that indicates that such Person has the ability to post such deposit), (b) gives to Landlord, at least five (5) days
prior to the date that the proposed assignment becomes effective, such Person’s financial statements, audited by a certified public accountant in accordance with GAAP, for the three (3) fiscal years that immediately precede such
assignment, that indicate that such Person has a tangible net worth of at least ten (10) times the then annual Fixed Rent for each of such three (3) years, and (c) gives to Landlord, at least five (5) days prior to the date that
the proposed assignment becomes effective, such other information or takes such action that in either case Landlord, in its reasonable judgment, determines is necessary to provide adequate assurance of the performance by such assignee of the
obligations of the tenant under this Lease; provided, however, that in no event shall such adequate assurance of future performance be less favorable to Landlord than the assurance contemplated by Section 365(b)(3) of the Bankruptcy Code
(notwithstanding that this Lease may not be construed as a lease of real property in a shopping center). 
 (E) If Tenant’s interest
under this Lease is assigned to any Person pursuant to the provisions of the Bankruptcy Code, then any such assignee shall (x) be deemed without further act or deed to have assumed all the obligations of the tenant arising under this Lease from
and after the date of such assignment, and (y) execute and deliver to Landlord upon demand an instrument confirming such assumption. 

(F) Nothing contained in this Article 21 limits Landlord’s rights against Tenant under Article 17 hereof. 

  
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 21.2. Replacement Lease. 

If (i) Tenant is not the Person that constituted Tenant initially, and (ii) either (I) this Lease is disaffirmed or rejected
pursuant to the Bankruptcy Code, or (II) this Lease terminates by reason of occurrence of an Insolvency Event, then, subject to the terms of this Section 21.2, the Persons that constituted Tenant hereunder previously, including, without
limitation, the Person that constituted Tenant initially (each such Person that previously constituted Tenant hereunder (but does not then constitute Tenant hereunder), and with respect to which Landlord exercises Landlord’s rights under this
Section 21.2, being referred to herein as a “Predecessor Tenant”) shall (1) pay to Landlord the aggregate Rental that is then due and owing by Tenant to Landlord under this Lease to and including the date of such
disaffirmance, rejection or termination, and (2) enter into a new lease, between Landlord, as landlord, and the Predecessor Tenant, as tenant, for the Premises, and for a term commencing on the effective date of such disaffirmance, rejection or
termination and ending on the Fixed Expiration Date, at the same Fixed Rent and upon the then executory terms that are contained in this Lease, except that (a) the Predecessor Tenant’s rights under the new lease shall be subject to the
possessory rights of Tenant under this Lease and the possessory rights of any Person claiming by, through or under Tenant or by virtue of any statute or of any order of any court, and (b) such new lease shall require all defaults existing under
this Lease to be cured by the Predecessor Tenant with reasonable diligence. Landlord shall have the right to require the Predecessor Tenant to execute and deliver such new lease on the terms set forth in this Section 21.2 only by giving notice
thereof to Tenant and to the Predecessor Tenant within thirty (30) days after Landlord receives notice of any such disaffirmance or rejection (or, if this Lease terminates by reason of Landlord making an election to do so, then Landlord may
exercise such right only by giving such notice to Tenant and the Predecessor Tenant within thirty (30) days after this Lease so terminates). If the Predecessor Tenant defaults in its obligation to enter into said new lease for a period of ten
(10) days following Landlord’s request therefor, then, in addition to all other rights and remedies by reason of such default, either at law or in equity, Landlord shall have the same rights and remedies against such Predecessor Tenant as
if such Predecessor Tenant had entered into such new lease and such new lease had thereafter been terminated as of the commencement date thereof by reason of such Predecessor Tenant’s default thereunder. 

21.3. Insolvency Events. 

This Lease shall terminate automatically upon the occurrence of any of the following events: 

(A) a Tenant Obligor commences or institutes any case, proceeding or other action (a) seeking relief on its behalf as debtor, or to
adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts under any existing
or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, or (b) seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or any
substantial part of its property; or 

  
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 (B) a Tenant Obligor makes a general assignment for the benefit of creditors; or 

(C) any case, proceeding or other action is commenced or instituted against a Tenant Obligor (a) seeking to have an order for relief
entered against it as debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to
it or its debts under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, or (b) seeking appointment of a receiver, trustee, custodian or other similar
official for it or for all or any substantial part of its property, which in either of such cases (i) results in any such entry of an order for relief, adjudication of bankruptcy or insolvency or such an appointment or the issuance or entry of
any other order having a similar effect, and (ii) remains undismissed for a period of sixty (60) days; or 
 (D) any case,
proceeding or other action is commenced or instituted against a Tenant Obligor seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its property which results in the entry of an
order for any such relief which is not vacated, discharged, or stayed or bonded pending appeal within sixty (60) days from the entry thereof; or 

(E) a Tenant Obligor takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set
forth in clauses (A), (B), (C), or (D) above; or 
 (F) a trustee, receiver or other custodian is appointed for any substantial part of
a Tenant Obligor’s assets, and such appointment is not vacated or stayed within fifteen (15) Business Days (the events described in this Section 21.3 being collectively referred to herein as “Insolvency Events”). 

The term “Tenant Obligor” shall mean (a) Tenant, (b) any Person that comprises Tenant (if Tenant is comprised of more than one
(1) Person), (c) any partner in Tenant (if Tenant is a general partnership), (d) any general partner in Tenant (if Tenant is a limited partnership), (e) any Person that has guarantied all or any part of the obligations of Tenant hereunder, and
(f) any Person that previously constituted Tenant hereunder. If this Lease terminates pursuant to this Section 21.3, then (I) Tenant immediately shall quit and surrender the Premises, and (II) Tenant shall nonetheless remain
liable for all of its obligations hereunder, as provided in Article 22 hereof and Article 23 hereof. 
 21.4. Effect of Stay. 

Notwithstanding anything to the contrary contained herein, if (i) Landlord’s right to terminate this Lease after the occurrence of
an Event of Default, or the termination of this Lease upon the occurrence of an Insolvency Event, is stayed by order of any court having jurisdiction over an Insolvency Event, or by federal or state statute, (ii) the trustee appointed in
connection with an Insolvency Event, or Tenant or Tenant as debtor-in-possession, fails to assume Tenant’s obligations under this Lease on or prior to the earliest
to occur of (a) the last day of the period prescribed therefor by law, (b) the one hundred twentieth (120th) day after entry of the order for relief, or (c) a date that is otherwise designated by the court, or (iii) said trustee,
Tenant or 

  
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Tenant as debtor-in-possession fails to provide adequate protection of Landlord’s right, title and interest in
and to the Premises or adequate assurance of the complete and continuous future performance of Tenant’s obligations under this Lease as provided in Section 21.1(D) hereof, then Landlord, to the extent permitted by law or by leave of the
court having jurisdiction over such proceeding, shall have the right, at its election, to terminate this Lease on five (5) Business Days of advance notice to Tenant, Tenant as
debtor-in-possession or said trustee, and, upon the expiration of said period of five (5) Business Days, this Lease shall cease and expire as aforesaid and Tenant,
Tenant as debtor-in-possession or said trustee shall immediately quit and surrender the Premises as aforesaid. 

21.5. Rental for Bankruptcy Purposes. 

Notwithstanding anything contained in this Lease to the contrary, all amounts payable by Tenant to or on behalf of Landlord under this Lease,
regardless of whether such amounts are expressly denominated as Rental, shall constitute rent for the purposes of Section 502(b)(6) of the Bankruptcy Code, and Tenant’s payment obligations with respect thereto shall constitute obligations
to be timely performed pursuant to Section 365(d) of the Bankruptcy Code. 
 Article 22 

REMEDIES AND DAMAGES 

22.1. Certain Remedies. 

(A) If (x) an Event of Default occurs and this Lease and the Term expires and comes to an end as provided in Article 20 hereof, or
(y) this Lease terminates as provided in Section 21.3 hereof, then: 
 (1) Tenant shall immediately quit and peacefully surrender
the Premises to Landlord, and Landlord and its agents may, without prejudice to any other remedy which Landlord may have, (a) re-enter the Premises or any part thereof, without notice, either by summary
proceedings, or by any other applicable action or proceeding, or by lawful force (without being liable to indictment, prosecution or damages therefor), (b) repossess the Premises and dispossess Tenant and any other Persons from the Premises, and
(c) remove any and all of their property and effects from the Premises; and 
 (2) Landlord, at Landlord’s option, may relet the
whole or any portion or portions of the Premises from time to time, either in the name of Landlord or otherwise, to such tenant or tenants, for such term or terms ending before, on or after the Fixed Expiration Date, at such rental or rentals and
upon such other conditions, which may include concessions and free rent periods, as Landlord, in its sole discretion, may determine. 
 (B)
Landlord shall have no obligation to relet the Premises or any part thereof and shall not be liable for refusal or failure to relet the Premises or any part thereof, or, in the event of any such reletting, for refusal or failure to collect any rent
due upon any such reletting. Any such refusal or failure on Landlord’s part shall not relieve Tenant of any liability under this Lease or otherwise affect any such liability. Landlord, at Landlord’s option, may make such

  
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repairs, replacements, alterations, additions, improvements, decorations and other physical changes in and to the Premises as Landlord, in its sole discretion, considers advisable or necessary in
connection with any such reletting or proposed reletting, without relieving Tenant of any liability under this Lease or otherwise affecting any such liability. 

(C) In the event of a breach or threatened breach by Tenant, or any Persons claiming by, through or under Tenant, of any term, covenant or
condition of this Lease, Landlord shall have the right to (1) enjoin or restrain such breach, (2) invoke any other remedy allowed by law or in equity as if re-entry, summary proceedings and other
special remedies were not provided in this Lease for such breach, and (3) seek any declaratory, injunctive or other equitable relief, and specifically enforce this Lease. The right to invoke the remedies hereinbefore set forth are cumulative
and nonexclusive and shall not preclude Landlord from invoking any other remedy allowed at law or in equity. 
 22.2. No Redemption.

 Tenant, on its own behalf and on behalf of all Persons claiming by, through or under Tenant, including all creditors, does hereby waive
any and all rights which Tenant and all such Persons might have under any present or future law to redeem the Premises, or to re-enter or repossess the Premises, or to restore the operation of this Lease,
after (a) Tenant has been dispossessed by a judgment or by warrant of any court or judge, or (b) any re-entry by Landlord, or (c) any expiration or termination of this Lease and the Term,
whether such dispossess, re-entry, expiration or termination is by operation of law or pursuant to the provisions of this Lease. The words “re-enter,” “re-entry” and “re-entered” as used in this Lease shall not be deemed to be restricted to their technical legal meanings. 

22.3. Calculation of Damages. 

(A) If this Lease terminates by reason of the occurrence of an Event of Default or by reason of the occurrence of an Insolvency Event, then
Tenant shall pay to Landlord, on demand, and Landlord shall be entitled to recover: 
 (1) all Rental payable under this Lease by Tenant to
Landlord (x) to the date that this Lease terminates, or (y) to the date of re-entry upon the Premises by Landlord, as the case may be; 

(2) the excess of (a) the Rental for the period which otherwise would have constituted the unexpired portion of the Term, over
(b) the net amount, if any, of rents collected under any reletting effected pursuant to the provisions of clause (2) of Section 22.1(A) hereof for any part of such period (such excess being referred to herein as a
“Deficiency”), as damages (it being understood that (x) such net amount described in clause (b) above shall be calculated by deducting from the rents collected under any such reletting all of Landlord’s expenses in
connection with the termination of this Lease, Landlord’s re-entry upon the Premises and such reletting, including, but not limited to, all repossession costs, brokerage commissions, legal expenses,
attorneys’ fees and disbursements, alteration costs, contributions to work and other expenses of preparing the Premises for such reletting, (y) any such Deficiency shall be paid in monthly installments by Tenant on the days specified in
this Lease for payment of installments 

  
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of Fixed Rent or Escalation Rent (as the case may be), and (z) Landlord shall be entitled to recover from Tenant each monthly Deficiency as it arises, and no suit to collect the amount of
the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding); and 

(3) regardless of whether Landlord has collected any monthly Deficiency as aforesaid, and in lieu of any further Deficiency, as and for
liquidated and agreed final damages, an amount equal to the excess (if any) of (a) the Rental for the period which otherwise would have constituted the unexpired portion of the Term (commencing on the date immediately succeeding the last date
with respect to which a Deficiency, if any, was collected), over (b) the then fair and reasonable net effective rental value of the Premises for the same period (which is calculated by (X) deducting from the fair and reasonable rental
value of the Premises the expenses that Landlord would reasonably expect to incur in reletting the Premises, including, but not limited to, all repossession costs, brokerage commissions, legal expenses, attorneys’ fees and disbursements,
alteration costs, contributions to work and other expenses of preparing the Premises for such reletting, and (Y) taking into account the time period that Landlord would reasonably require to consummate a reletting of the Premises to a new
tenant), both discounted to present value at the Base Rate. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, the Premises, or any part thereof, have been relet by Landlord to any Person other than an
Affiliate of Landlord for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, then the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable
rental value of the Premises (or the applicable part thereof) so relet during the term of the reletting. 
 (B) If the Premises, or any part
thereof, are relet together with other space in the Building, then the rents collected or reserved under any such reletting and the expenses of any such reletting shall be equitably apportioned for the purposes of this Section 22.3. Tenant
acknowledges and agrees that in no event shall it be entitled to any rents collected or payable under any reletting, regardless of whether such rents exceed the Rental reserved in this Lease. 

(C) Nothing contained in this Article 22 shall be deemed to limit or preclude the recovery by Landlord from Tenant of the maximum amount
allowed to be obtained as damages by any applicable statute or rule of law, or of any sums or damages to which Landlord may be lawfully entitled in addition to the damages set forth in this Section 22.3. 

Article 23 
 EXPENSES AND LATE
CHARGES 
 23.1. Landlord’s Costs. 

(A) Tenant shall pay to Landlord an amount equal to the reasonable
Out-of-Pocket Costs that Landlord incurs in instituting or prosecuting any legal proceeding against Tenant (or any other Person claiming by, through or under Tenant) to
the extent that such legal proceeding derives from the occurrence of an Event of Default, together with interest thereon calculated at the Applicable Rate from the date that Landlord incurs such costs, within thirty (30) days after Landlord
gives to Tenant an invoice therefor (it being understood that (i) 

  
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Landlord shall endeavor to promptly give Tenant such invoice and (ii) (x) Landlord shall have the right to collect such amount from Tenant as additional rent to the extent that Landlord
incurs such costs during the Term and as damages to the extent that Landlord incurs such costs after the Expiration Date, and (y) the amount that Landlord has the right to collect from Tenant under this Section 23.1(A) shall be adjusted
appropriately to reflect the extent to which Landlord is successful in such legal proceeding). 
 (B) Tenant shall pay to Landlord an amount
equal to the reasonable Out-of-Pocket Costs that Landlord incurs in defending successfully against a claim made by Tenant (or any other Person claiming by, through or
under Tenant) against Landlord that relates to this Lease in a legal proceeding, together with interest thereon calculated at the Applicable Rate from the date that Landlord incurs such costs, within thirty (30) days after Landlord gives to
Tenant an invoice therefor (it being understood that (i) Landlord shall endeavor to promptly give Tenant such invoice and (ii) (x) Landlord shall have the right to collect such amount from Tenant as additional rent to the extent that
Landlord incurs such costs during the Term and as damages to the extent that Landlord incurs such costs after the Expiration Date, and (y) the amount that Landlord has the right to collect from Tenant under this Section 23.1(B) shall be
adjusted appropriately to reflect the extent to which Landlord is successful in defending against such claim). 
 23.2.
Tenant’s Costs. 
 (A) Landlord shall pay to Tenant an amount equal to the reasonable Out-of-Pocket Costs that Tenant incurs in defending successfully against a claim made by Landlord (or any other Person claiming by, through or under Landlord) against Tenant
that relates to this Lease in a legal proceeding, together with interest thereon calculated at the Applicable Rate from the date that Tenant incurs such costs, within thirty (30) days after Tenant gives to Landlord an invoice therefor (it being
understood that (i) Tenant shall endeavor to promptly give Landlord such invoice and (ii) (x) Tenant shall only have the right to collect such amount from Landlord to the extent that Tenant incurs such costs during the Term and as damages
to the extent that Tenant incurs such costs after the Expiration Date, and (y) the amount that Tenant has the right to collect from Landlord under this Section 23.2(A) shall be adjusted appropriately to reflect the extent to which Tenant
is successful in defending against such claim). 
 (B) Landlord shall pay to Tenant an amount equal to the reasonable Out-of-Pocket Costs that Tenant incurs in instituting or prosecuting any legal proceeding against Landlord (or any other Person claiming by, through or under Landlord) to the
extent that such legal proceeding derives from the occurrence of Landlord’s default hereunder, together with interest thereon calculated at the Applicable Rate from the date that Tenant incurs such costs, within thirty (30) days after
Tenant gives to Landlord an invoice therefor (it being understood that (i) Tenant shall endeavor to promptly give Landlord such invoice and (ii) (x) Tenant shall only have the right to collect such amount from Landlord to the extent that
Tenant incurs such costs during the Term and as damages to the extent that Tenant incurs such costs after the Expiration Date, and (y) the amount that Tenant has the right to collect from Landlord under this Section 23.2(B) shall be
adjusted appropriately to reflect the extent to which Tenant is successful in such legal proceeding). 

  
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 23.3. Interest on Late Payments. 

If Tenant fails to pay any item of Rental on or prior to the fifth (5th) day after the date that such payment is due, then Tenant shall pay to
Landlord, in addition to such item of Rental, as a late charge and as additional rent, an amount equal to interest at the Applicable Rate on the amount unpaid, computed from the date such payment was due to and including the date of payment. Nothing
contained in this Section 23.3 limits Landlord’s rights and remedies, by operation of law or otherwise, after the occurrence of an Event of Default. 

Article 24 
 SECURITY 

24.1. Security Deposit. 

Subject to the terms of this Article 24, Tenant, within fifteen (15) days after the date hereof, shall deposit with Landlord, as security
for the performance of Tenant’s obligations under this Lease, an unconditional, irrevocable and transferable letter of credit (the “Letter of Credit”) that (i) is in the amount of Five Hundred Twenty-Eight Thousand Dollars
and No Cents ($528,000.00), (ii) is in a form that is reasonably satisfactory to Landlord, (iii) is issued for a term of not less than one (1) year, (v) automatically renews for periods of not less than one (1) year unless the issuer
thereof otherwise advises Landlord on or prior to the thirtieth (30th) day before the applicable expiration date, (vi) allows Landlord the right to draw thereon in part from time to time or in full and (vii) is issued for the account of
Landlord, and is issued by, and drawn on, a bank that (a) has a Standard & Poor’s rating of at least “AA” (or, if Standard & Poor’s hereafter ceases the publication of ratings for banks, a rating of a
reputable rating agency as reasonably designated by Landlord that most closely approximates a Standard & Poor’s rating of “AA” as of the date hereof), (b) has not been declared insolvent or placed into receivership in either
case by Federal Deposit Insurance Corporation or another governmental entity that has regulatory authority over such bank, and (c) that either (I) has an office in the city where the Building is located at which Landlord can present the
Letter of Credit for payment, or (II) has an office in the United States and allows Landlord to draw upon the Letter of Credit without presenting a draft in person (such as, for example, by submitting a draft by fax or overnight delivery
service) (the aforesaid requirements for the bank that issues the Letter of Credit being collectively referred to herein as the “Bank Requirements”). As of the date hereof, Comerica Bank shall be deemed to satisfy the Bank
Requirements; it being understood, however, that if at any time during the Term, (x) the Standard & Poor’s rating for Comerica Bank falls below “A-” (or, if Standard &
Poor’s hereafter ceases the publication of ratings for banks, the rating of a reputable rating agency as reasonably designated by Landlord that most closely approximates a Standard & Poor’s rating for Comerica Bank falls below “A-”), or (y) Comerica Bank fails to satisfy any of the other Bank Requirements, Comerica Bank shall no longer be deemed to satisfy the Bank Requirements, and Tenant shall be obligated to deliver a
replacement Letter of Credit, issued by a bank that satisfies the Bank Requirements (and otherwise meets the requirements set forth in this Section 24.1), subject to and in accordance with the provisions of Section 24.2 hereof. 

  
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 24.2. Landlord’s Rights. 

If (a) an Event of Default occurs and is continuing, (b) an Insolvency Event occurs, or (c) Tenant fails to vacate the Premises
and surrender possession thereof in accordance with the terms of this Lease upon the Expiration Date, then Landlord may present the Letter of Credit for payment and apply the proceeds thereof (i) to the payment of any Rental that then remains
unpaid, or (ii) to any damages to which Landlord is entitled hereunder and that Landlord incurs by reason of such Event of Default or such Insolvency Event or Tenant’s aforesaid failure to vacate the Premises or surrender possession
thereof in accordance with the terms of this Lease upon the Expiration Date. If Landlord so applies any part of the proceeds of the Letter of Credit, then Tenant, upon demand, shall provide Landlord with a replacement Letter of Credit so that
Landlord has the full amount of the required security at all times during the Term. If at any time the issuer of the Letter of Credit does not meet the Bank Requirements (it being understood that if Standard & Poor’s hereafter ceases
the publication of ratings for banks, the parties, in determining whether the issuer of the Letter of Credit meets the Bank Requirements, shall substitute for the rating of Standard & Poor’s a rating of a reputable rating agency as
reasonably designated by Landlord that most closely approximates a Standard & Poor’s rating of “AA” as of the date hereof), then Tenant shall deliver to Landlord a replacement Letter of Credit, issued by a bank that satisfies
the Bank Requirements (and otherwise meets the requirements set forth in Section 24.1 hereof) within fifteen (15) days after the date that Landlord gives Tenant notice of such issuer’s failure to satisfy the Bank Requirements. If
Tenant fails to deliver to Landlord such replacement Letter of Credit within such period of fifteen (15) days, then Landlord, in addition to Landlord’s other rights at law, in equity or as otherwise set forth herein, shall have the right
to present the Letter of Credit for payment and retain the proceeds thereof as security in lieu of the Letter of Credit (it being agreed that Landlord shall have the right to use, apply and transfer such proceeds in the manner described in this
Article 24). Tenant shall reimburse Landlord for any reasonable costs that Landlord incurs in so presenting the Letter of Credit for payment within thirty (30) days after Landlord submits to Tenant an invoice therefor. Nothing contained in this
Section 24.2 limits Landlord’s rights or remedies in equity, at law, or as otherwise set forth herein. 
 24.3. Return of
Security. 
 Landlord shall return to Tenant the Letter of Credit (to the extent not theretofore presented for payment in accordance
with the terms hereof) within thirty (30) days after Tenant performs all of the obligations of Tenant hereunder upon the expiration or earlier termination of the Term. Landlord’s obligations under this Section 24.3 shall survive the
expiration or earlier termination of the Term. 
 24.4. Transfer of Letter of Credit. 

Tenant, at Tenant’s expense, shall cause the issuer of the Letter of Credit to amend the Letter of Credit to name a new beneficiary
thereunder in connection with Landlord’s assignment of Landlord’s rights under this Lease to a Person that succeeds to Landlord’s interest in the Real Property, promptly after Landlord’s request from time to time. 

  
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 24.5. Renewal of Letter of Credit. 

If Tenant fails to provide Landlord with a replacement Letter of Credit that complies with the requirements of this Article 24 on or prior to
the thirtieth (30th) day before the expiration date of the Letter of Credit that is then expiring, then Landlord may present the Letter of Credit for payment and retain the proceeds thereof as security in lieu of the Letter of Credit (it being
agreed that Landlord shall have the right to use, apply and transfer such proceeds in the manner described in this Article 24). Tenant shall reimburse Landlord for any reasonable costs that Landlord incurs in so presenting the Letter of Credit for
payment within thirty (30) days after Landlord submits to Tenant an invoice therefor. Landlord also shall have the right to so present the Letter of Credit and so retain the proceeds thereof as security in lieu of the Letter of Credit at any
time from and after the thirtieth (30th) day before the Expiration Date if the Letter of Credit expires earlier than the ninetieth (90th) day after the Expiration Date. 

Article 25 
 END OF TERM

 25.1. End of Term. 

On the Expiration Date, Tenant shall quit and surrender to Landlord the Premises, vacant, broom-clean, in good order and condition, ordinary
wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions hereof. Tenant expressly waives, for itself and for any Person claiming by, through or under Tenant,
any rights which Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings that
Landlord institutes to enforce the provisions of this Article 25. 
 25.2. Holdover. 

If vacant and exclusive possession of the Premises is not surrendered to Landlord on the Expiration Date, then Tenant shall pay to Landlord on
account of use and occupancy of the Premises, for each month (or any portion thereof) during which Tenant (or a Person claiming by, through or under Tenant) holds over in the Premises after the Expiration Date, an amount equal to one hundred fifty
percent (150%) of the aggregate Rental that was payable under this Lease during the last month of the Term, except that Tenant shall pay an amount equal to two hundred percent (200%) of the aggregate Rental that was payable under this Lease during
the last month of the Term for the period commencing on the thirtieth (30th) day of such holdover period. Landlord’s right to collect such amount from Tenant for use and occupancy shall be in addition to any other rights or remedies that
Landlord may have hereunder or at law or in equity (including, without limitation, Landlord’s right to recover Landlord’s damages from Tenant that derive from vacant and exclusive possession of the Premises not being surrendered to
Landlord on the Expiration Date). Nothing contained in this Section 25.2 shall permit Tenant to retain possession of the Premises after the Expiration Date or limit in any manner Landlord’s right to regain possession of the Premises,
through summary proceedings or otherwise. Landlord’s acceptance of any payments from Tenant after the Expiration Date shall be deemed to be on account of the amount to be paid by Tenant in accordance with the provisions of this Article 25. 

  
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 Article 26 

NO WAIVER 
 26.1. No
Surrender. 
 (A) Landlord shall be deemed to have accepted a surrender of the Premises only if Landlord executes and delivers to Tenant
a written instrument providing expressly therefor. 
 (B) No employee of Landlord or of Landlord’s agents shall have any power to
accept the keys to the Premises prior to the Expiration Date. The delivery of such keys to any employee of Landlord or of Landlord’s agents shall not operate as a termination of this Lease or a surrender of the Premises. If Tenant at any time
desires to have Landlord sublet the Premises on Tenant’s account, then Landlord or Landlord’s agents are authorized to receive said keys for such purpose without releasing Tenant from any of Tenant’s obligations under this Lease. 

26.2. No Waiver by Landlord. 

(A) Landlord’s failure to seek redress for violation of, or to insist upon the strict performance of, any covenant or condition of this
Lease, or any of the Rules, shall not be deemed to be a waiver thereof. The receipt by Landlord of Rental with knowledge of the breach of any covenant of this Lease by Tenant shall not be deemed a waiver of such breach. 

(B) No payment by Tenant or receipt by Landlord of a lesser amount than the monthly Fixed Rent or other item of Rental herein stipulated shall
be deemed to be other than on account of the earliest stipulated Fixed Rent or other item of Rental, or as Landlord may elect to apply such payment. No endorsement or statement on any check or any letter accompanying any check or payment as Fixed
Rent or other item of Rental shall be deemed to be an accord and satisfaction. Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such Fixed Rent or other item of Rental or to pursue any
other remedy provided in this Lease or otherwise available to Landlord at law or in equity. 
 (C) Landlord’s failure during the Term
to prepare and deliver any invoices, and Landlord’s failure during the Term to make a demand for payment under any of the provisions of this Lease, shall not in any way be deemed to be a waiver of, or cause Landlord to forfeit or surrender, its
rights to collect any item of Rental which may have become due during the Term (except to the extent otherwise expressly set forth herein). Tenant’s liability for such amounts shall survive the expiration or earlier termination of this Lease
(except to the extent otherwise expressly set forth herein). 
 (D) No provision of this Lease shall be deemed to have been waived by
Landlord, unless such waiver is in writing signed by Landlord. 

  
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 26.3. No Waiver by Tenant. 

(A) Tenant’s failure to seek redress for violation of, or to insist upon the strict performance of, any covenant or condition of this
Lease on Landlord’s part to be performed, shall not be deemed to be a waiver. The payment by Tenant of any item of Rental or performance of any obligation of Tenant hereunder with knowledge of any breach by Landlord of any covenant of this
Lease shall not be deemed a waiver of such breach, nor shall it prejudice Tenant’s right to pursue any remedy against Landlord in this Lease provided or otherwise available to Tenant in law or in equity. No provision of this Lease shall be
deemed to have been waived by Tenant, unless such waiver is in writing signed by Tenant. 
 (B) Tenant’s failure during the Term to
make a demand for payment under any of the provisions of this Lease shall not in any way be deemed to be a waiver of, or cause Tenant to forfeit or surrender, its rights to collect any amount which may have become due during the Term (except to the
extent otherwise expressly set forth herein). Landlord’s liability for such amounts shall survive the expiration or earlier termination of this Lease (except to the extent otherwise expressly set forth herein). 

Article 27 
 JURISDICTION

 27.1. Governing Law. 

This Lease shall be construed and enforced in accordance with the laws of the State of New York. 

27.2. Submission to Jurisdiction. 

Tenant hereby (a) irrevocably consents and submits to the jurisdiction of any federal, state, county or municipal court sitting in the
State of New York for purposes of any action or proceeding brought therein by Landlord against Tenant concerning any matters relating to this Lease, (b) irrevocably waives all objections as to venue and any and all rights it may have to seek a
change of venue with respect to any such action or proceedings, (c) agrees that the laws of the State of New York shall govern in any such action or proceeding and waives any defense to any action or proceeding granted by the laws of any other
country or jurisdiction unless such defense is also allowed by the laws of the State of New York, and (d) agrees that any final unappealable judgment rendered against it in any such action or proceeding shall be conclusive and may be enforced
in any other jurisdiction by suit on the judgment or in any other manner provided by law. Tenant further agrees that any action or proceeding by Tenant against Landlord concerning any matters arising out of or in any way relating to this Lease shall
be brought only in the State of New York, County of New York. 
 27.3. Waiver of Trial by Jury; Counterclaims. 

(A) 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 any matters whatsoever arising out of or in any way connected with this Lease, the relationship of Landlord and Tenant, Tenant’s use or occupancy of the Premises, or for the enforcement of any remedy under any statute, emergency or
otherwise. 

  
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 (B) If Landlord commences any summary proceeding against Tenant, then Tenant shall not
interpose any counterclaim of whatever nature or description in any such proceeding (except to the extent that applicable law precludes Tenant from asserting such counterclaim in another proceeding), and shall not seek to consolidate such proceeding
with any other action which may have been or will be brought in any other court by Tenant. Nothing contained in this Section 27.3(B) limits Tenant’s right to assert claims against Landlord in a separate proceeding. 

Article 28 
 NOTICES 

28.1. Addresses; Manner of Delivery. 

Except as otherwise expressly provided in this Lease, any bills, statements, consents, notices, demands, requests or other communications that
a party desires or is required to give to the other party under this Lease shall (1) be in writing, (2) be deemed sufficiently given if (a) delivered by hand (against a signed receipt), (b) sent by registered or certified mail (return
receipt requested), or (c) sent by a nationally-recognized overnight courier (with verification of delivery), and (3) be addressed in each case: 

if to Tenant, prior to the Commencement Date, at Tenant’s address first set forth above with copies by email to catalin.lupu@unipath.com and
legal@unipath.com. 
 and if to Tenant after the Commencement Date, at the Building, Attn.: Mihai Faur 

and in each case with a copy to: 
 Kleinberg,
Kaplan, Wolff & Cohen, P.C. 
 551 Fifth Avenue, 18th Floor 

New York, New York 10176 

Attention: Ross Yustein, Esq. 
 if to Landlord,
at: 
 c/o Vornado Office Management LLC 

888 Seventh Avenue 
 New York, New
York 10019 
 Attn.: President - New York Division 

with a copy to: 
 Vornado Realty Trust 

210 Route 4 
 East Paramus, New
Jersey 07652 
 Attn: Chief Financial Officer 

  
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 or to such other address or addresses as Landlord or Tenant may designate from time to time on at least ten
(10) Business Days of advance notice given to the other in accordance with the provisions of this Article 28. Any such bill, statement, consent, notice, demand, request, or other communication shall be deemed to have been given (x) on the
date that it is hand delivered, as aforesaid, or (y) three (3) Business Days after the date that it is mailed, as aforesaid, or (z) on the first (1st) Business Day after the date that it is sent by a nationally-recognized courier, as
aforesaid. Any such bills, statements, consents, notices, demands, requests or other communications that the Person that is the property manager for the Building gives to Tenant in accordance with the terms of this Article 28 shall be deemed to have
been given by Landlord (except that Landlord, at any time and from time to time, shall have the right to terminate or suspend such property manager’s right to give such bills, statements, consents, notices, demands, requests or other
communications to Tenant by giving not less than five (5) days of advance notice thereof to Tenant). 
 Article 29 

BROKERAGE 
 29.1.
Broker. 
 Landlord and Tenant each represent to the other that it has not dealt with any broker, finder or salesperson in connection
with this Lease other than Newmark Knight Frank (the “Broker”). Landlord shall pay any commission due to Broker in connection with this Lease pursuant to the terms of a separate agreement. 

Article 30 
 INDEMNITY 

30.1. Tenant’s Indemnification of the Landlord Indemnitees. 

(A) Subject to the terms of this Section 30.1, to the fullest extent permitted by law, Tenant shall indemnify the Landlord Indemnitees,
and hold the Landlord Indemnitees harmless, from and against, all losses, damages, liabilities, costs and expenses (including, without limitation, reasonable attorneys’ fees and expenses) that are incurred by a Landlord Indemnitee and that
derive from a claim (a “Claim Against Landlord”) made by a third party against such Landlord Indemnitee arising from or alleged to arise from: 

(1) a wrongful act or wrongful omission of any Tenant Indemnitee during the Term (including, without limitation, claims that derive from a
Permitted Party’s conducting such Permitted Party’s business in the Premises) (it being understood that Tenant shall not have responsibility under this clause (1) for any wrongful act or wrongful omission of a Recapture Subtenant);

 (2) an event or circumstance that occurs during the Term in the Premises or in another portion of the Building with respect to which
Tenant has exclusive use pursuant to the terms hereof (subject, however, to Landlord’s rights of access under Article 9 hereof) (it being understood that Tenant’s liability under this clause (2) shall not apply to the extent that
Landlord exercises Landlord’s rights under Section 17.3 hereof with respect to the Recapture Space); 

  
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 (3) the breach of any covenant to be performed by Tenant hereunder; 

(4) a misrepresentation made by Tenant hereunder (including, without limitation, a misrepresentation of Tenant under Section 29.1
hereof); 
 (5) a Person with whom a Permitted Party has dealt making a claim for a leasing commission or other similar compensation in
connection with a Transfer; or 
 (6) Landlord’s cooperating with Tenant as contemplated by Section 7.4(A) hereof. 

Tenant shall not be required to indemnify the Landlord Indemnitees, and hold the Landlord Indemnitees harmless, in either case as aforesaid,
to the extent that it is finally determined that the negligence or willful misconduct of a Landlord Indemnitee contributed to the loss or damage sustained by the Person making the Claim Against Landlord. Nothing contained in this Section 30.1
limits the provisions of Section 32.19 hereof. 
 (B) The term “Landlord Indemnitees” shall mean, collectively,
Landlord, Landlord’s managing agent, each Lessor, each Mortgagee and their respective partners, members, managers, officers, directors, employees, trustees and agents. 

(C) The term “Tenant Indemnitees” shall mean each Permitted Party and their respective partners, members, managers, officers,
directors, employees, trustees and agents. 
 (D) The parties intend that the Landlord Indemnitees (other than Landlord) shall be
third-party beneficiaries of this Section 30.1. 
 30.2. Landlord’s Indemnification of the Tenant
Indemnitees. 
 (A) Subject to the terms of this Section 30.2, to the fullest extent permitted by law, Landlord shall indemnify the
Tenant Indemnitees, and hold the Tenant Indemnitees harmless, from and against, all losses, damages, liabilities, costs and expenses (including, without limitation, reasonable attorneys’ fees and expenses) that are incurred by a Tenant
Indemnitee and that derive from a claim (a “Claim Against Tenant”) made by a third party against such Tenant Indemnitee arising from or alleged to arise from: 

(1) the breach of any covenant to be performed by Landlord hereunder; 

(2) a misrepresentation made by Landlord hereunder (including, without limitation, a misrepresentation of Landlord under Section 29.1
hereof); 
 (3) Landlord’s failure to pay the Broker a commission or other compensation in connection herewith; or 

  
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 (4) a wrongful act or wrongful omission of any Landlord Indemnitee (including, without
limitation, a wrongful act or wrongful omission of the Person that has the right to occupy the Recapture Space by virtue of Landlord’s exercising Landlord’s rights under Section 17.3 hereof). 

Landlord shall not be required to indemnify the Tenant Indemnitees, and hold the Tenant Indemnitees harmless, in either case as aforesaid, to
the extent that it is finally determined that the negligence or willful misconduct of a Tenant Indemnitee contributed to the loss or damage sustained by the Person making the Claim Against Tenant. 

(B) The parties intend that the Tenant Indemnitees (other than Tenant) shall constitute third-party beneficiaries of this Section 30.2.

 30.3. Indemnification Procedure. 

(A) If at any time a Claim Against Tenant is made or threatened against a Tenant Indemnitee, or a Claim Against Landlord is made or threatened
against a Landlord Indemnitee, then the Person entitled to indemnity under this Article 30 (the “Indemnitee”) shall give to the other party (the “Indemnitor”) notice of such Claim Against Tenant or such Claim
Against Landlord, as the case may be (the “Claim”); provided, however, that the Indemnitee’s failure to provide such notice shall not impair the Indemnitee’s rights to indemnity as provided in this Article 30 except to the
extent that the Indemnitor is prejudiced materially thereby. Such notice shall state the basis for the Claim and the amount thereof (to the extent such amount is determinable at the time that such notice is given). 

(B) The Indemnitor shall have the right to defend against the Claim using attorneys that the Indemnitor designates and that the Indemnitee
approves (it being understood that (I) the Indemnitee shall not unreasonably withhold, condition or delay such approval, (II) the Indemnitee shall be deemed to have approved such attorneys if the Indemnitee fails to respond within ten
(10) days to the Indemnitor’s request for approval, and (III) the attorneys designated by the Indemnitor’s insurer shall be deemed approved by the Indemnitee for purposes hereof). The Indemnitor’s failure to notify the
Indemnitee of the Indemnitor’s election to defend against the Claim within thirty (30) days after the Indemnitee gives such notice to the Indemnitor shall be deemed a waiver by the Indemnitor of its aforesaid right to defend against the
Claim. 
 (C) Subject to the terms of this Section 30.3(C), if the Indemnitor elects to defend against the Claim pursuant to
Section 30.3(B) hereof, then the Indemnitee may participate, at the Indemnitee’s expense, in defending against the Claim. The Indemnitor shall have the right to control the defense against the Claim (and, accordingly, the Indemnitee shall
cause its counsel to act accordingly). If there exists a conflict between the interests of the Indemnitor and the interests of the Indemnitee, then the Indemnitor shall pay the reasonable fees and disbursements of any counsel that the Indemnitee
retains in so participating in the defense against the Claim. Except as otherwise provided in this Section 30.3(C), the Indemnitor shall not be required to pay the costs that Indemnitee otherwise incurs in engaging counsel to consult with
Indemnitee in connection with the Claim. 

  
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 (D) If the Claim is a Claim Against Landlord, then Landlord shall cooperate reasonably with
Tenant in connection therewith. If the Claim is a Claim Against Tenant, then Tenant shall cooperate reasonably with Landlord in connection therewith. 

(E) The Indemnitor shall not consent to the entry of any judgment or award regarding the Claim, or enter into any settlement regarding the
Claim, except in either case with the prior approval of the Indemnitee (any such entry of any judgment or award regarding a Claim to which the Indemnitor consents, or any such settlement regarding a claim to which the Indemnitor agrees, being
referred to herein as a “Settlement”). The Indemnitee shall not unreasonably withhold, condition or delay the Indemnitee’s approval of a proposed Settlement, provided that (I) the Indemnitor pays, in cash, to the Person
making the Claim, the entire amount of the Settlement contemporaneously with the Indemnitee’s approval thereof (so that neither the Indemnitor nor the Indemnitee have any material obligations regarding the applicable Claim that remain executory
from and after the consummation of the Settlement), or (II) the Person making the Claim releases the Indemnitee from any obligations owed to such Person pursuant to such Settlement that remain executory after the consummation thereof). If
(x) the terms of the Settlement do not provide for the Indemnitor’s making payment, in cash, to the Person making the Claim, the entire amount of the Settlement, contemporaneously with the Indemnitee’s approval thereof (so that either
the Indemnitor or the Indemnitee have any material obligations regarding the applicable Claim that remain executory from and after the consummation of the Settlement), (y) the Person making the Claim does not release the Indemnitee from any
obligations owed to such Person pursuant to such Settlement that remain executory after the consummation thereof, and (z) the Indemnitee does not approve the proposed Settlement, then the Indemnitor’s aggregate liability under this Article
30 for the Claim (including, without limitation, the costs incurred by the Indemnitor for legal costs and other costs of defense) shall not exceed an amount equal to the sum of (i) the aggregate legal costs and defense costs that the Indemnitor
incurred to the date that the Indemnitor proposes such Settlement, (ii) the amount that the Indemnitor would have otherwise paid to the Person making the applicable Claim under the terms of the proposed Settlement, and (iii) the aggregate
legal costs and defense costs that the Indemnitor would have reasonably expected to incur in consummating the proposed Settlement. 
 (F) If
the Indemnitor does not elect to defend against the Claim as contemplated by this Section 30.3, then the Indemnitee may defend against, or settle, such claim, action or proceeding in any manner that the Indemnitee deems appropriate, and the
Indemnitor shall be liable for the Claim to the extent provided in this Article 30. 
 Article 31 

LANDLORD’S CONSENTS; ARBITRATION 

31.1. Certain Limitations. 

Subject to the terms of Section 31.2 hereof, to the fullest extent permitted by law, Tenant hereby waives any claim against Landlord for
Landlord’s unreasonably withholding, unreasonably conditioning or unreasonably delaying any consent or approval requested by Tenant in cases where Landlord expressly agreed herein not to unreasonably withhold, unreasonably condition or
unreasonably delay such consent or approval. If there is a 

  
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determination that such consent or approval has been unreasonably withheld, unreasonably conditioned or unreasonably delayed, then (1) the requested consent or approval shall be deemed to
have been granted, and (2) Landlord shall have no liability to Tenant for its refusal or failure to give such consent or approval. Tenant’s sole remedy for Landlord’s unreasonably withholding, conditioning or delaying consent or
approval shall be as provided in this Article 31. 
 31.2. Expedited Arbitration. 

(A) If (i) this Lease obligates Landlord to not unreasonably withhold, condition or delay Landlord’s consent or approval for a
particular matter, (ii) Landlord withholds, delays or conditions its consent or approval for such matter, and (iii) Tenant believes that Landlord did so unreasonably, then Tenant shall have the right to submit the issue of whether Landlord
unreasonably withheld, delayed or conditioned such consent or approval to an Expedited Arbitration Proceeding only by giving notice thereof to Landlord on or prior to the thirtieth (30th) day after the date that Landlord denied or conditioned such
consent or approval, or the thirtieth (30th) day after the date that Tenant claims that Landlord’s delaying such consent or approval first became unreasonable, as the case may be. 

(B) The sole decision to be made in the Expedited Arbitration Proceeding shall be whether Landlord unreasonably withheld, delayed or
conditioned its consent with respect to the particular matter being arbitrated. If the decision in the Expedited Arbitration Proceeding is that Landlord unreasonably withheld, conditioned, or delayed consent with respect to such matter, then
(i) Landlord shall be deemed to have consented to such matter, and (ii) Landlord shall execute and deliver documentation that is reasonably requested by Tenant to evidence such consent. 

(C) The term “Expedited Arbitration Proceeding” shall mean a binding arbitration proceeding conducted in The City of New York
under the Commercial Arbitration Rules of the American Arbitration Association (or its successor) and administered pursuant to the Expedited Procedures provisions thereof; provided, however, that with respect to any such arbitration, (i) the
list of arbitrators referred to in Section E-4(b) shall be returned within five (5) Business Days from the date of mailing; (ii) the parties shall notify the American Arbitration Association (or its
successor) by telephone, within four (4) Business Days, of any objections to the arbitrator appointed and, subject to clause (vii) below, shall have no right to object if the arbitrator so appointed was on the list submitted by the
American Arbitration Association (or its successor) and was not objected to in accordance with Section E-4(c) as modified by clause (i) above; (iii) the notification of the hearing referred to in Section E-7 shall be four (4) Business Days in advance of the hearing; (iv) the hearing shall be held within seven (7) Business Days after the appointment of the arbitrator; (v) the arbitrator shall have
no right to award damages or vary, modify or waive any provision of this Lease; (vi) the decision of the arbitrator shall be final and binding on the parties; and (vii) the arbitrator shall not have been employed by either party (or their
respective Affiliates) during the period of three (3) years prior to the date of the Expedited Arbitration Proceeding. The arbitrator shall determine the extent to which each party is successful in such Expedited Arbitration Proceeding in
addition to rendering a decision on the dispute submitted. If the arbitrator determines that one (1) party is entirely unsuccessful, then such party shall pay all of the fees of such arbitrator. If the arbitrator determines that both

  
 104 

 
parties are partially successful, then each party shall be responsible for such arbitrator’s fees only to the extent such party is unsuccessful (e.g., if Landlord is eighty percent (80%)
successful and Tenant is twenty percent (20%) successful, then Landlord shall be responsible for twenty percent (20%) of such arbitrator’s fees and Tenant shall be responsible for eighty percent (80%) of such arbitrator’s fees). 

Article 32 
 ADDITIONAL
PROVISIONS 
 32.1. Tenant’s Property Delivered to Building Employees. 

Any Building employee to whom any property is entrusted by or on behalf of Tenant shall be deemed to be acting as Tenant’s agent with
respect to such property. 
 32.2. Not Binding Until Execution. 

This Lease shall not be binding upon Landlord or Tenant unless and until Landlord and Tenant have executed and unconditionally delivered a
fully executed counterpart of this Lease to each other. 
 32.3. No Third Party Beneficiaries. 

Landlord and Tenant hereby acknowledge that they do not intend for any other Person to constitute a third-party beneficiary hereof, except to
the extent otherwise set forth herein. 
 32.4. Extent of Landlord’s Liability. 

(A) The obligations of Landlord under this Lease shall not be binding upon the Person that constitutes Landlord initially after the sale,
conveyance, assignment or transfer by such Person of its interest in the Building or the Real Property, as the case may be (or upon any other Person that constitutes Landlord after the sale, conveyance, assignment or transfer by such Person of its
interest in the Building or the Real Property, as the case may be), to the extent such obligations accrue from and after the date of such sale, conveyance, assignment or transfer. 

(B) The members, managers, partners, shareholders, directors, officers and principals, direct and indirect, comprising Landlord shall not be
liable for the performance of Landlord’s obligations under this Lease. Tenant shall look solely to Landlord to enforce Landlord’s obligations hereunder. 

(C) The liability of Landlord for Landlord’s obligations under this Lease shall be limited to Landlord’s interest in the Real
Property and the proceeds thereof (including, without limitation, proceeds of a sale or refinancing of Landlord’s interest in the Real Property, casualty insurance proceeds, and condemnation awards). Tenant shall not look to any property or
assets of Landlord (other than Landlord’s interest in the Real Property and such proceeds thereof) in seeking either to enforce Landlord’s obligations under this Lease or to satisfy a judgment for Landlord’s failure to perform such
obligations. 

  
 105 

 32.5. Extent of Tenant’s Liability. 

If Tenant is a corporation, limited partnership, limited liability partnership or limited liability company, then (i) the members,
managers, limited partners, shareholders, directors, officers and principals, direct and indirect, comprising Tenant shall not be liable for the performance of Tenant’s obligations under this Lease, and (ii) Landlord shall look solely to
Tenant to enforce Tenant’s obligations hereunder. 
 32.6. Survival. 

Subject to the terms hereof, Tenant’s liability for all amounts that are due and payable to Landlord hereunder shall survive the
Expiration Date. 
 32.7. Recording. 

Tenant shall not record this Lease. Tenant shall not record a memorandum of this Lease. Landlord shall have the right to record a memorandum
of this Lease. If Landlord submits to Tenant a memorandum hereof that is in reasonable form, then Tenant shall execute, acknowledge and deliver such memorandum promptly after Landlord’s submission thereof to Tenant. 

32.8. Entire Agreement. 

This Lease contains the entire agreement between the parties and supersedes all prior understandings, if any, with respect thereto. This Lease
shall not be modified, changed, or supplemented, except by a written instrument executed by both parties. 
 32.9. Counterparts. 

This Lease may be executed in counterparts, it being understood that all such counterparts, taken together, shall constitute one and the same
agreement. 
 32.10. Exhibits. 

If any inconsistency exists between the terms and provisions of this Lease and the terms and provisions of the Exhibits hereto, then the terms
and provisions of this Lease shall prevail. 
 32.11. Gender., Plural. 

Wherever appropriate in this Lease, personal pronouns shall be deemed to include the other gender and the singular to include the plural. 

32.12. Divisibility. 
 If
any term of this Lease, or the application thereof to any Person or circumstance, is held to be invalid or unenforceable, then the remainder of this Lease or the application of such term to any other Person or any other circumstance shall not be
thereby affected, and each term shall remain valid and enforceable to the fullest extent permitted by law. 

  
 106 

 32.13. Vault Space. 

If (i) Tenant uses or occupies any vaults, vault space or other space outside the boundaries of the Real Property that in each case is
located below grade, and (ii) such space is diminished by any Governmental Authority or by any utility company, then such diminution shall not constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to any
abatement or diminution of Rental, or relieve Tenant from any of its obligations under this Lease, or impose any liability upon Landlord. 

32.14. Adjacent Excavation. 

If an excavation is made upon land adjacent to the Building, or is authorized to be made, then Tenant, upon reasonable advance notice, shall
grant to the Person causing or authorized to cause such excavation a license to enter upon the Premises for the purpose of doing such work as said Person deems necessary to preserve the Building from injury or damage and to support the same by
proper foundations, without any claim for damages or indemnity against Landlord, or diminution or abatement of Rental; provided that Tenant shall continue to have access to and reasonable use of the Premises. Landlord shall use commercially
reasonable efforts to enforce any applicable agreement between Landlord and the Person causing or authorized to cause such excavation to minimize interference with Tenant’s use of the Premises in connection with the access to the Premises by
such Person as provided in this Section 32.14. Landlord acknowledges that Landlord’s right to access the Premises as provided in this Section 32.14 is subject to the provisions of Article 9 hereof. 

32.15. Captions. 
 The
captions are inserted only for convenience and for reference and in no way define, limit or describe the scope of this Lease or the intent of any provision thereof. 

32.16. Parties Bound. 

The covenants, conditions and agreements contained in this Lease shall bind and inure to the benefit of Landlord and Tenant and their
respective legal representatives, successors, and, except as otherwise provided in this Lease, their assigns. 
 32.17. Authority.

 (A) Tenant hereby represents and warrants to Landlord that (i) Tenant is duly organized and validly existing under the laws of the
State of Delaware, and possesses all licenses and authorizations necessary to carry on its business, (ii) Tenant has full power and authority to carry on its business, enter into this Lease and consummate the transaction contemplated by this
Lease, (iii) the individual executing and delivering this Lease on Tenant’s behalf has been duly authorized to do so, (iv) this Lease has been duly executed and delivered by Tenant, (v) this Lease constitutes a valid, legal,
binding and enforceable obligation of Tenant (subject to bankruptcy, insolvency or creditor rights laws generally, and principles of equity generally), (vi) the execution, delivery and performance of this Lease by Tenant will not cause or constitute
a default under, or conflict with, the organizational documents of Tenant or any agreement to which Tenant is a party, (vii) the execution, delivery and performance of this Lease by Tenant will not violate any Requirement, and (viii) all
consents, approvals, authorizations, orders or filings of or with any court or governmental agency or body, if any, required on the part of Tenant for the execution, delivery and performance of this Lease have been obtained or made. 

  
 107 

 (B) Landlord hereby represents and wan-ants to
Tenant that (i) Landlord is duly organized and validly existing in good standing under the laws of New York, and possesses all licenses and authorizations necessary to carry on its business, (ii) Landlord has full power and authority to
carry on its business, enter into this Lease and consummate the transaction contemplated by this Lease, (iii) the individual executing and delivering this Lease on Landlord’s behalf has been duly authorized to do so, (iv) this Lease
has been duly executed and delivered by Landlord, (v) this Lease constitutes a valid, legal, binding and enforceable obligation of Landlord (subject to bankruptcy, insolvency or creditor rights laws generally, and principles of equity
generally), (vi) the execution, delivery and performance of this Lease by Landlord will not cause or constitute a default under, or conflict with, the organizational documents of Landlord or any agreement to which Landlord is a party, (vii) the
execution, delivery and performance of this Lease by Landlord does not violate any Requirement, and (viii) all consents, approvals, authorizations, orders or filings of or with any court or governmental agency or body, if any, required on the
part of Landlord for the execution, delivery and performance of this Lease have been obtained or made. 
 32.18. Rent Control. 

If at the commencement of, or at any time or times during, the Term, the Rental reserved in this Lease is not fully collectible by reason of
any Requirement, then Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and as may be legally permissible to allow Landlord to collect the maximum rents which
may from time to time during the continuance of such legal rent restriction be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction prior to the expiration of
the Term, (a) the Rental shall become and thereafter be payable hereunder in accordance with the amounts reserved in this Lease for the periods following such termination, and (b) Tenant shall pay to Landlord, if legally permissible, an
amount equal to the excess of (i) the items of Rental which would have been paid pursuant to this Lease but for such legal rent restriction, over (ii) the rents paid by Tenant to Landlord during the period or periods such legal rent
restriction was in effect. 
 32.19. Consequential Damages. 

Tenant shall have no liability for any consequential, indirect or punitive damages that Landlord suffers (it being understood, however, that
nothing contained in this Section 32.19 limits Landlord’s right to recover damages (x) as expressly provided in Section 22.3(A) hereof and in Section 25.2 hereof, or (y) for Tenant’s failure to remove Specialty
Alterations to the extent provided in Section 7.8 hereof). Landlord shall have no liability for any consequential, indirect or punitive damages that are suffered by Tenant or any Person claiming by, through or under Tenant. 

  
 108 

 32.20. Tenant’s Advertising. 

Tenant shall not use a picture, photograph or drawing of the Building (or a silhouette thereof) in Tenant’s letterhead or promotional
materials without Landlord’s prior approval. 
 32.21. Specially Designated Nationals; Blocked Persons; Embargoed Persons. 

(A) Tenant represents and warrants to Landlord that (a) Tenant and each person or entity directly or indirectly owning an interest in
Tenant is (i) not currently identified on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control of the Department of the Treasury (“OFAC”) and/or on any other similar list
maintained by OFAC pursuant to any authorizing statute, executive order or regulation (collectively, the “List”), and (ii) not a person or entity with whom a citizen of the United States is prohibited to engage in transactions by any
trade embargo, economic sanction, or other prohibition of United States law, regulation, or Executive Order of the President of the United States, (b) none of the funds or other assets of Tenant constitute property of, or are beneficially
owned, directly or indirectly, by, any Embargoed Person, (c) no Embargoed Person has any interest of any nature whatsoever in Tenant (whether directly or indirectly), (d) none of the funds of Tenant have been derived from any unlawful activity
with the result that the investment in Tenant is prohibited by Requirements or that this Lease is in violation of Requirements, and (e) Tenant has implemented procedures, and will consistently apply those procedures, to ensure the foregoing
representations and warranties remain true and correct at all times. The term “Embargoed Person” means any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency
Economic Powers Act, 50 U.S.C. §1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder with the result that the investment in Tenant is prohibited by Requirements
or Tenant is in violation of Requirements. 
 (B) Tenant covenants and agrees (a) to comply with all Requirements relating to money
laundering, anti-terrorism, trade embargos and economic sanctions, now or hereafter in effect, (b) to immediately notify Landlord in writing if any of the representations, warranties or covenants set forth in this paragraph or the preceding
paragraph are no longer true or have been breached or if Tenant has a reasonable basis to believe that they may no longer be true or have been breached, (c) not to use funds from any “Prohibited Person” (as such term is defined in the
September 24, 2001 Executive Order Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism) to make any payment due to Landlord under this Lease and (d) at the request of Landlord,
to provide such information as may be requested by Landlord to determine Tenant’s compliance with Requirements. 
 (C) Tenant hereby
acknowledges and agrees that Tenant’s inclusion on the List at any time during the Term shall be an Event of Default. Notwithstanding anything herein to the contrary, Tenant shall not permit the Premises or any portion thereof to be used or
occupied by any person or entity on the List or by any Embargoed Person (on a permanent, temporary or transient basis), and any such use or occupancy of the Premises by any such person or entity shall be an Event of Default. 

  
 109 

 This page constitutes the signature page to the Lease, dated as of the 30th day of March,
2018, between NINETY PARK PROPERTY LLC, as landlord, and UIPATH, INC., as tenant, for certain space in the building known by the street address of 90 Park Avenue, New York, New York 10016 

IN WITNESS WHEREOF, Landlord and Tenant have duly executed and delivered this Lease as of the date first above written. 

 

							
	NINETY PARK PROPERTY LLC
		
	By:	 	Vornado Realty L.P., member
			
		 	By:	 	Vornado Realty Trust, general partner
				
		 		 	By:	 	/s/ David R. Greenbaum
		 		 		 	Name: David R. Greenbaum
		 		 		 	Title: President – New York Division

  

			
	
	UIPATH, INC.
		
	By:	 	/s/ Solomon D. Dines
		 	Name: Solomon D. Dines
		 	Title:

			
		
	Tenant’s EIN:	 	47-4333187

 Exhibit “A” 

Premises 
 90 Park Avenue 

20th Floor 
  
 

 

  
 Ex. “A”-1 

 Exhibit “3.3” 

Rules 
  

	1.	 Tenant shall not obstruct the common areas of the Building. Tenant shall not use the common areas of the
Building for any purpose other than for the purpose that the applicable common area is used ordinarily. 

  

	2.	 Tenant shall not use any plumbing fixtures that are connected to Building Systems for any purpose other than
the ordinary purpose for which such plumbing fixtures are installed. 

  

	3.	 Tenant shall not use the Premises in any manner that materially and unreasonably interferes with the use of any
other portion of the Building for ordinary business purposes. 

  

	4.	 Tenant shall not at any time keep in the Premises any flammable, combustible or explosive substance, except for
any such substances that are incidental to the use or maintenance of the Premises for ordinary office purposes or the performance of Alterations that are performed in accordance with the terms of this Lease. 

 

	5.	 Tenant shall not bring any bicycles, vehicles or animals of any kind into the Premises or the Building (except
for (x) service animals, and (y) bicycles or other vehicles that Tenant has the right to bring into the Building in accordance with applicable Requirements, with the understanding, however, that Tenant shall bring such bicycles and other
vehicles into the Building only in a manner that conforms with reasonable rules that Landlord establishes therefor in accordance with applicable Requirements). 

 

	6.	 Subject to Section 3.3 of the Lease, Tenant shall comply with the security procedures that Landlord
reasonably adopts from time to time for the Building. Tenant acknowledges that Landlord’s security procedures may include, without limitation, (i) Landlord’s denying entry to the Building by any person who does not present a Building
pass or who does not comply with Landlord’s procedures regarding the registration of visitors to the Building, and (ii) procedures governing the inspection of freight that arrives at the loading facilities for the Building.

  

	7.	 Landlord shall have the right to require Tenant to (x) direct Persons who are delivering packages to the
Premises to make delivery to an office in the Building that Landlord designates (in which case Landlord shall make arrangements for such packages to be delivered to Tenant using other personnel that Landlord engages), or (y) arrange for such
Persons to be escorted by a representative of Tenant while such Person makes delivery to the Premises. 

  
 Ex. “3.3”-1

	8.	 Tenant shall subject to inspection by Landlord or Landlord’s designee all items being brought into the
Building by or on behalf of Tenant (including, without limitation, packages, boxes, bags, handbags, attache cases, and suitcases). Landlord may refuse entry into the Building to any Person who refuses to cooperate with such inspection or who is
carrying any item which has a reasonable likelihood of being dangerous to persons or property. 

  

	9.	 Tenant, at Tenant’s expense, shall operate its interior lights for the employees of Landlord during the
period that such employees make repairs in the Premises or perform cleaning services in accordance with the terms of this Lease. 

  

	10.	 Tenant shall not canvass or solicit the other occupants of the Building. Tenant shall cooperate reasonably with
Landlord in connection with Landlord’s efforts to prevent any Person from canvassing, soliciting or peddling in the Building. 

  

	11.	 Tenant shall use in the Building only hand trucks and hand carts that in either case are equipped with rubber
tires and side guards. 

  

	12.	 Tenant shall implement a policy that precludes its personnel from smoking in the Building and shall use
reasonable efforts to enforce such policy. 

  
 Ex. “3.3”-2

 Exhibit “4.4” 

Cleaning Specifications 

NIGHTLY (ON BUSINESS DAYS) 
  

	 	•	 	 Sweep hard-surfaced flooring in general office space using a dust-down preparation. 

 

	 	•	 	 Carpet sweep carpets in general office areas without moving heavy furniture (such as desks, file cabinets,
computer stands, and sofas). 

  

	 	•	 	 Hand dust and wipe clean all furniture, fixtures and window sills in the general office areas that are within
reach of the cleaning staff without ladders. 

  

	 	•	 	 Empty and clean waste receptacles in the general office areas and remove wastepaper. 

 

	 	•	 	 Dust the interior of waste receptacles in the general office areas. 

 

	 	•	 	 Wash clean water fountains and coolers in the general office areas. 

 

	 	•	 	 Sweep private stairways within the premises. 

 

	 	•	 	 Sweep and wash (using disinfectant) all floors in the base building lavatories that are located in the Building
core. 

  

	 	•	 	 Wash and polish mirrors, shelves, bright work and enameled surfaces in the base building lavatories that are
located in the Building core. 

  

	 	•	 	 Wash and disinfect basins, bowls and urinals in the base building lavatories that are located in the Building
core. 

  

	 	•	 	 Wash toilet seats in the base building lavatories that are located in the Building core. 

 

	 	•	 	 Hand dust and clean all partitions, tile walls, dispensers and receptacles in the base building lavatories that
are located in the Building core. 

  

	 	•	 	 Empty paper receptacles and remove wastepaper in the base building lavatories that are located in the Building
core. 

  

	 	•	 	 Fill toilet tissue holders in the base building lavatories that are located in the Building core.

  

	 	•	 	 Empty and clean sanitary disposal receptacles in the base building lavatories that are located in the Building
core. 

 ”- 

  
 Ex. “4.4”-1

 WEEKLY 
  

	 	•	 	 Vacuum clean carpeting and rugs in the general office areas without moving heavy furniture (such as desks, file
cabinets, computer stands, and sofas). 

  

	 	•	 	 Dust door louvres and other ventilating louvres that are within reach of the cleaning staff without ladders.

  

	 	•	 	 Wipe clean bright work. 

QUARTERLY 
  

	 	•	 	 High dust the Premises, including the following: 

 

	 	•	 	 Dust pictures, frames, charts, graphs and similar wall hangings that are not reached in nightly or weekly
cleaning. 

  

	 	•	 	 Dust clean vertical surfaces, such as walls, partitions, doors and door bucks and other surfaces not reached in
nightly or weekly cleaning. 

  

	 	•	 	 Dust pipes, ventilating and air-conditioning louvers, ducts, high
moldings and other high areas not reached in nightly or weekly cleaning. 

  

	 	•	 	 Dust Venetian blinds. 

ADDITIONAL SERVICES 
  

	 	•	 	 Wash the exterior of windows periodically, subject to weather conditions and Requirements. 

  
 Ex. “4.4”-2

 Exhibit “17.9(C)” 

PWC Restrictions Clause 

Note that each reference in this Exhibit to: 

(i) “the date hereof’ means a reference to March 31, 2016; 

(ii) “this Lease” means a reference to the PWC Lease; and 

(iii) “Tenant” means a reference to PWC. 

Certain Definitions. 
 The term
“Competitor” shall mean a Person listed [as a Competitor on Exhibit “17.9(D)” attached hereto]. Tenant, at any time and from time to time (but not more frequently than one (1) time in
any particular period of twelve (12) months), shall have the right to substitute a Person for a Person that has theretofore constituted a Competitor by giving not less than thirty (30) days of advance notice to Landlord, provided that
(x) the Person that Tenant so adds as a Competitor is engaged in any Primary Competitive Business, (y) in no event shall there be more than five (5) Competitors at any one time (it being agreed that either party shall be entitled to
submit any dispute regarding whether a Person that Tenant desires to add to the Competitor List is engaged in a Primary Competitive Business or whether a business constitutes a Primary Competitive Business to an Expedited Arbitration
Proceeding and (z) the Person that Tenant so adds as a Competitor (i) has not entered into occupancy of any space in the Building, (ii) has not entered into an agreement to occupy any space in the Building, or (iii) is not a
Person with whom Landlord is then in active negotiations to occupy any space in the Building. The term “Primary Competitive Business” shall mean a business that provides tax services, assurance, consulting or auditing services,
or any other business that competes directly or indirectly with Tenant and from which Tenant directly or indirectly derives at least twenty-five percent (25%) of Tenant’s annual revenues. 

The term “Competitor Affiliate” shall mean an Affiliate of a Competitor that has a substantially similar or derivative name (or the initials
of a Competitor) as the Competitor so that it is reasonably apparent to third parties that such Person is related to the Competitor, and is engaged in a Primary Competitive Business. 

Leasing Restrictions. 
 Landlord shall not enter into any
lease or other occupancy agreement, and Landlord shall not grant its consent (to the extent Landlord has the right to withhold consent for such reason) to any subleasing to, or other occupancy agreement with, a Person who is a Competitor or
Competitor Affiliate for space in the Building (including, without limitation, any retail space in the Building), provided such Person is a Competitor or Competitor Affiliate on the date that such

  
 Ex. “17.9(C)”-1

 
Person entered into the lease, sublease or occupancy agreement. Nothing in this [section] shall require Landlord to prohibit a Person from leasing any premises in the Building pursuant to
(I) a sublease by a Permitted Party or an assignment of a Permitted Party’s interest, (II) a sublease or an assignment by any tenant or any Person claiming by, through or under a tenant, that, in any case, is not an Affiliate of
Landlord under any lease or sublease for space in the Building that is in effect as of the date hereof or (III) an assignment of a leasehold interest in any portion of the Real Property pursuant to the provisions of the Bankruptcy Code in
which the court having jurisdiction over the bankruptcy case invalidates the provisions of this [section] as they may apply to such leasehold interest. 

  
 Ex. “17.9(C)”-2

 Exhibit “17.9(D)” 

Current PWC Competitors 
  

	
	KPMG
	Deloitte
	Ernst & Young
	BDO Seidman
	Grant Thornton

  
 Ex. “17.9(D)”-1

 Exhibit “18.1” 

Option Space 
 90 Park Avenue 

24th Floor 
  
 

 

  
 Ex. “18.1”-1

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