Document:

Pledge and Security Agreement

 Exhibit 4.3 
 Execution Copy 
 ENTERTAINMENT PROPERTIES TRUST 
 PLEDGE AND SECURITY AGREEMENT 
 THIS AGREEMENT is made as of March 4, 2010 
  

			
	TO:	  	ROYAL BANK OF CANADA, as Administrative Agent for the benefit of the Secured Creditors (together with its successors and assigns, the “Administrative
Agent”);
		
	 GRANTED BY:
	  	ENTERTAINMENT PROPERTIES TRUST, in its own capacity (together with its successors and assigns, the “Grantor”);

 RECITALS: 
 A. The Administrative Agent and
the Lenders have agreed to make certain credit facilities available to EPR Metropolis Trust and YongeDundas Signage Trust (the “Borrowers”) on the terms and conditions contained in the Credit Agreement; 
 B. As a condition precedent to the extension of credit to the Borrowers under the Credit Agreement, the Grantor has entered into a guarantee (the
“Guarantee”) in favour of the Administrative Agent guaranteeing, among other things, the payment and performance of all present and future debts, liabilities and obligations of the Borrowers pursuant to the Credit Agreement and the
other Credit Documents; and 
 C. As security for the fulfilment of all of the Secured Obligations, the Grantor wishes to grant a security
interest in the Pledged Property and any and all proceeds therefrom in favour of the Administrative Agent for and on behalf of the Secured Creditors. 
 NOW THEREFORE, the parties agree as follows: 
 ARTICLE 1 
 DEFINITIONS AND PRINCIPLES OF INTERPRETATION 
  

	1.1	Defined Statutory Terms 

 Unless the
context otherwise requires or unless otherwise specified, all the terms used in this Agreement without initial capitals, which are defined in the PPSA (as defined below) or the STA (as defined below), have the same meanings in this Agreement as in
the PPSA or the STA, as applicable. 
  

	1.2	Definitions 

 Wherever used in this
Agreement (including in the recitals hereto), all capitalized terms used and not defined have the meanings ascribed to them in the Credit Agreement and the following words and terms have the meanings set out below: 
 “Control Agreement” means any present or future agreement or agreements entered into by the Grantor, the Administrative
Agent and the applicable issuer, securities intermediary or futures intermediary, whereby the parties intend for the Administrative Agent to obtain control of Pledged Securities; 

 “Credit Agreement” means the credit agreement dated as of March 4,
2010 between, among others, the Grantor, as Parent Guarantor, the Borrowers, as Borrowers and Guarantors, Metropolis Entertainment Holdings Inc., as Credit Party, the financial institutions named therein, as Lenders and Royal Bank of Canada, as
Administrative Agent, as the same may be amended, modified, extended, renewed, restated, supplemented or refinanced from time to time; 
 “Event of Default” means, as applicable, an “Event of Default” as defined in the Credit Agreement or an “Event of Default” as defined in the RBC LC Documents; 
 “Expenses” has the meaning specified in Section 3.1(b);  
 “Issuers” means the those issuers listed on Schedule 1.1; 
 “Lien” means any lien, mortgage, hypothec, pledge, assignment, security interest, charge or encumbrance of any kind and any
option, trust or other preferential arrangement having the practical effect of any of the foregoing which secures payment or performance of an obligation; 
 “Pledged Indebtedness” means (i) any Intercompany Subordinated Indebtedness (certificated or uncertificated), including the Intercompany Subordinated Indebtedness set out on Schedule
1.2, as such schedule may be amended or replaced from time to time; and (ii) all Proceeds therefrom and all interest, dividends, distributions, income or revenue thereon and therefrom, including personal property in any form derived directly or
indirectly from any dealing with such property or proceeds therefrom, and any payment as indemnity or compensation for loss or damage to such property or any right to such payment, and any payment made in total or partial discharge or redemption of
such property; 
 “Pledged Property” means the Pledged Securities and the Pledged Indebtedness, collectively;

 “Pledged Securities” means (i) all Securities now or in the future held, at any time or from time to
time, by the Grantor of the Issuers set out on Schedule 1.1, as such schedule may be amended or replaced from time to time, including all warrants, options and other similar instruments relating to such Securities and any substitutions, additions
and proceeds arising out of any consolidation, subdivision, reclassification, conversion, distribution or similar increase or decrease in or alteration of the capital of such Persons or any other event and any Securities acquired pursuant to the
exercise of a right or offer granted or made by the Grantor to the extent that any such right or offer arises out of the ownership of any Securities in the capital of such Persons; and (ii) all Proceeds therefrom and all interest,
distributions, income or revenue thereon and therefrom, including personal property in any form derived directly or indirectly from any dealing with such property or proceeds therefrom, and any payment as indemnity or compensation for loss or damage
to such property or any right to such payment, and any payment made in total or partial discharge or redemption of such property; 
  

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 “PPSA” means the Personal Property Security Act, R.S.O. 1990,
c.P.10; 
 “Proceeds” means all proceeds and personal property in any form derived directly or indirectly from
any dealing with all or any part of the Pledged Property, and proceeds of proceeds and any part of any such proceeds; 
 “Secured Obligations” has the meaning specified in Section 3.1(a); 
 “Securities”
means (i) “securities” within the meaning of the STA; and (ii) any other shares, interests, units or other similar investments; 
 “Securities Account” means all of the present or future securities accounts maintained for the Grantor by a securities intermediary, including all of the financial assets credited to such
securities accounts, all related securities entitlements and the agreements between the Grantor and the securities intermediary governing such securities accounts; 
 “Security Interest” means the security interest granted under Section 2.1; and “STA” means the Securities Transfer Act, 2006, S.O. 2006, c. 8. 
  

	1.3	Certain Rules of Interpretation 

 In this
Agreement: 
  

	 	(a)	Governing Law — This Agreement is a contract made under and shall be governed by and construed in accordance with the laws of the Province of Ontario and
the federal laws of Canada applicable in the Province of Ontario without prejudice to or limitation of any other rights or remedies available under the laws of any jurisdiction where property or assets of the Grantor may be found.

  

	 	(b)	Headings — Headings of Articles and Sections are inserted for convenience of reference only and shall not affect the construction or interpretation of this
Agreement. 

  

	 	(c)	Including — Where the word “including” or “includes” is used in this Agreement, it means “including (or includes) without
limitation.” 

  

	 	(d)	No Strict Construction — The language used in this Agreement is the language chosen by the parties to express their mutual intent, and no rule of strict
construction shall be applied against any party. 

  

	 	(e)	Number and Gender — Unless the context otherwise requires, words importing the singular include the plural and vice versa and words importing gender
include all genders. 

  

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	 	(f)	Severability — If, in any jurisdiction, any provision of this Agreement or its application to any party or circumstance is restricted, prohibited or
unenforceable, such provision shall, as to such jurisdiction, be ineffective only to the extent of such restriction, prohibition or unenforceability without invalidating the remaining provisions of this Agreement and without affecting the validity
or enforceability of such provision in any other jurisdiction or without affecting its application to other parties or circumstances. 

  

	 	(g)	Statutory References — A reference to a statute includes all regulations made pursuant to such statute and, unless otherwise specified, the provisions of
any statute or regulation which amends, revises, restates, supplements or supersedes any such statute or any such regulation or, in each case, any provision thereof 

  

	 	(h)	Time — Time is of the essence in the performance of the parties’ respective obligations. 

  

	 	(i)	References to Agreements — The term “this Agreement” refers to this Agreement including all schedules, amendments, supplements, extensions,
renewals, replacements, novations or restatements from time to time, in each case as permitted, and references to “Articles” or “Sections” means the specified Articles or Sections of this Agreement. 

  

	 	(j)	Paramountcy — Except as otherwise specifically provided in this Agreement, in the event of any conflict or inconsistency between a term or provision of this
Agreement and a term or provision of the Credit Agreement, the provisions of the Credit Agreement shall govern and prevail to the extent required to resolve the conflict or inconsistency and to the extent necessary to preserve the rights of the
Secured Creditors in the Pledged Property. Any right or remedy in this Agreement which may be in addition to the rights and remedies contained in the Credit Agreement shall not constitute a conflict, inconsistency, ambiguity or difference.

  

	1.4	Entire Agreement 

 This Agreement, the
Credit Agreement and the other Credit Documents constitute the entire agreement between the parties and set out all the covenants, promises, warranties, representations, conditions, understandings and agreements between the parties pertaining to the
subject matter of this Agreement and supersede all prior agreements, understandings, negotiations and discussions, whether oral or written. There are no covenants, promises, warranties, representations, conditions, understandings or other
agreements, oral or written, express, implied or collateral between the parties in connection with the subject matter of this Agreement except as specifically set forth in this Agreement, the Credit Agreement and the other Credit Documents.

  

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	1.5	Schedules 

 The schedules to this
Agreement, as listed below, are an integral part of this Agreement: 
  

			
	 Schedule
	  	Description
	 1.1
	  	Issuers
		
	 1.2
	  	Pledged Indebtedness
		
	 4.1(c)
	  	Pledged Securities

 ARTICLE 2

 SECURITY INTERESTS 
  

	2.1	Security Interest 

 As continuing security
for the payment and the performance of the Secured Obligations of the Grantor, the Grantor grants to the Administrative Agent for and on behalf of the Secured Creditors, a first continuing, specific and fixed security interest (the “Security
Interest”) in all of the Grantor’s Pledged Property. 
  

	2.2	Fixed Nature of Security Interests 

 The
Security Interest is intended to operate as a fixed and specific charge of all of the Pledged Property presently existing, and with respect to all future Pledged Property, to operate as a fixed and specific charge of such future Pledged Property.

  

	2.3	Attachment 

 The Grantor acknowledges that
value has been given and it has rights in the Pledged Property. The Security Interest of the Grantor is intended to attach, as to all of the Pledged Property, upon the execution by the Grantor of this Agreement. 
  

	2.4	Pledged Property 

 The Grantor hereby
delivers to and deposits with the Administrative Agent all security or other certificates evidencing the Pledged Property held by the Grantor together with all other necessary documents and effective endorsements to enable the Administrative Agent
or its agent or nominee, as the Administrative Agent may direct, to be registered as the owner of and to transfer or sell or cause to be transferred or sold the Pledged Property upon any enforcement of the Administrative Agent’s rights and
remedies. If the Grantor acquires any security certificates evidencing the Pledged Property held by the Grantor after the date of this Agreement, the Grantor shall as soon as practicable deliver and deposit all such security certificates to the
Administrative Agent, its agent or nominee, together with all other necessary documents and effective endorsements to enable the Administrative Agent or its agent or nominee to be registered as the owner of and to transfer or sell or cause to be
transferred or sold such Pledged Property upon any enforcement of the Administrative Agent’s rights and remedies. To the extent that any of the Pledged Securities are uncertificated Securities registered in the name of the Grantor or its
nominee or agent, the Grantor shall immediately: 
  

	 	(a)	cause the issuer of the Pledged Securities to register the Administrative Agent or its agent or nominee, as the Administrative Agent may direct, as the registered owner
of such Pledged Securities; or 

  

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	 	(b)	deliver to the Administrative Agent an irrevocable agreement of the issuer of such Pledged Securities satisfactory to the Administrative Agent that the issuer will
comply with instructions that are originated by the Administrative Agent without the further consent of the Grantor. 

 Notwithstanding the foregoing, the Administrative Agent may, following an Event of Default that is continuing, require that the Pledged Securities be registered in the name of the Administrative Agent or as the Administrative Agent may
direct. 
 ARTICLE 3 
 OBLIGATIONS SECURED 
  

	3.1	Secured Obligations 

 The Security
Interest constitutes and will constitute continuing security for payment and performance of: 
  

	 	(a)	all debts, liabilities and obligations, present or future, direct or indirect, absolute or contingent, matured or unmatured, at any time or from time to time due or
accruing due and owing by or otherwise payable by the Grantor to the Secured Creditors, or any one or more of them, in any currency, under, in connection with or pursuant to the Credit Agreement and any other of the Credit Documents to which the
Grantor is a party, and whether incurred by the Grantor alone or jointly with another or others and whether as principal, guarantor or surety (collectively, and together with the Expenses, the “Secured Obligations”); and

  

	 	(b)	all reasonable out-of-pocket expenses, costs and charges incurred by or on behalf of the Secured Creditors in connection with this Agreement, the Security Interest or
the Pledged Property, including all reasonable legal fees and all court costs, receiver’s or agent’s remuneration and other reasonable out-of-pocket expenses of taking possession of, repairing, protecting, insuring, preparing for
disposition, realizing, collecting, selling, transferring, delivering or obtaining payment for the Pledged Property, and of taking, defending or participating in any action or proceeding in connection with any of the foregoing matters or otherwise
in connection with the Secured Creditors’ interest in any Pledged Property except to the extent such claim, liability or expense is found in a final judgment by a court of competent jurisdiction to have resulted from such Secured
Creditor’s gross negligence, willful misconduct, bad faith or material breach of this Agreement (collectively, the “Expenses”). 

  

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 ARTICLE 4 
 GRANTOR’S REPRESENTATIONS, WARRANTIES AND COVENANTS 
  

	4.1	Representations and Warranties 

 The
Grantor represents and warrants to the Administrative Agent and each other Secured Creditor the matters set out below: 
  

	 	(a)	Place of Business of Grantor — The following is the Grantor’s place of business, chief executive office and registered or head office:

  

	 	(i)	30 Pershing Road, Suite 201 

	 	 	Kansas City, MO 64108 

	 	 	U.S.A. 

  

	 	(b)	No Other Corporate Names or Styles — It does not carry on business under or use any name or style other than the names specified in the signature page of
this Agreement, including any names in the French language. 

  

	 	(c)	Ownership of Pledged Property - 

  

	 	(i)	Schedule 1.2 sets forth all the Pledged Indebtedness of the Grantor; 

  

	 	(ii)	Schedule 4.1(c) sets forth all the Pledged Securities owned by the Grantor and such Pledged Securities constitute the percentage of issued and outstanding shares of
stock, percentage of membership interests, percentage of partnership interests or percentage of beneficial interest of the respective Issuers thereof indicated on such Schedule 4.1(c); 

  

	 	(iii)	The Grantor is the registered and beneficial owner of, and has good title to, the Pledged Property held by the Grantor, subject only to the Security Interest;

  

	 	(iv)	The Pledged Securities represent all of the issued and outstanding securities of the Issuers held by the Grantor as of the date of this Agreement;

  

	 	(v)	The Grantor has not granted nor has it agreed to grant a Lien (other than pursuant to the Credit Documents) in or any right to acquire an interest in any of the Pledged
Property; 

  

	 	(vi)	None of the rights of the Grantor arising as the legal and beneficial owner of the Pledged Property held by the Grantor have been surrendered, cancelled or terminated;

  

	 	(vii)	There is no default or dispute existing in respect of the Pledged Property; and 

  

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	 	(viii)	All of the Pledged Securities are certificated and the partnership agreement, articles of association or other constating documents, as applicable, of each Issuer that
is a partnership or limited liability company expressly states that the Pledged Securities thereof are “securities” for the purposes of the STA. 

  

	 	(d)	The jurisdiction, registered and head offices of the Issuers are as set forth in Schedule 1.1; and 

  

	 	(e)	The Grantor has not given its consent to any agreement whereby any of the Issuers agree to comply with instructions that are originated by any Person other than the
Grantor in respect of any Pledged Securities that constitute uncertificated Securities, other than any such consents given by the Grantor relating to agreements for instructions to be originated by the Administrative Agent. 

All representations and warranties of the Grantor made in this Agreement or in any certificate or other document delivered by or on behalf of the Grantor
to or for the benefit of the Administrative Agent are material, shall survive and shall not merge upon the execution and delivery of this Agreement and shall continue in full force and effect. The Administrative Agent shall be deemed to have relied
upon such representations and warranties notwithstanding any investigation made or lack thereof by or on behalf of the Administrative Agent at any time. 
  

	4.2	Covenants 

 The Grantor covenants and
agrees that: 
  

	 	(a)	Notification to Administrative Agent of Claims and Liens — It shall as soon as practicable notify the Administrative Agent of any claim or Lien made or
asserted against any of the Pledged Property and the Grantor shall, at its own expense, defend the Pledged Property against any and all such claims or Liens (other than as permitted pursuant to the Credit Documents), including any adverse claim as
defined in the STA, and against any and all such suits, actions or proceedings; 

  

	 	(b)	Delivery of Documents — It shall deliver to the Administrative Agent as soon as practicable upon request: 

  

	 	(i)	Documents — any certificated Securities to be pledged pursuant to this Agreement and any certificates evidencing Pledged Indebtedness, and upon such
delivery, where applicable, duly endorse the same for transfer in blank or as the Administrative Agent may direct; and 

  

	 	(ii)	Other Information — such information concerning the Pledged Property, as the Administrative Agent may reasonably request; 

  

	 	(c)	 Changes and Other Names — It shall not (i) change its name as it appears in official filings in the jurisdiction of its organization;
(ii) change its registered office, head office, chief executive office, principal place of business or corporate offices, or the location of its books and records; (iii) change the type of entity that

  

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it is; (iv) change its jurisdiction of incorporation or organization in each case, (a) without providing the Administrative Agent with 30 days prior notice thereof; and
(b) registering such financing change statements or additional financing statements and executing such further and other documents and taking such further and other actions as may be necessary to ensure the continued validity and perfection of
the Security Interest under applicable personal property and real property security laws, in each case, as agreed to by Counsel to the Administrative Agent; 

  

	 	(d)	No Fraudulent Activity — it does not engage in and will not engage in any type of fraudulent activity; 

  

	 	(e)	No Affecting the Security — It shall not do, permit or suffer to be done anything to adversely affect the ranking, validity or perfection of the Security
Interest; and 

  

	 	(f)	Investment Property — 

  

	 	(i)	Additional Certificates — If the Grantor shall become entitled to receive or shall receive any security certificate, option or right in respect of the
Pledged Property, the Grantor shall accept such security certificates as the Administrative Agent’s agent, hold such security certificates, option or right in trust for the Administrative Agent and immediately deliver them to the Administrative
Agent (or to the Administrative Agent’s agent or nominee, as the Administrative Agent may direct) in the exact form received, together with the documents and effective endorsements to enable the Administrative Agent or its nominee to be
registered as owner, to be held by the Administrative Agent as additional security for the Secured Obligations. Upon the occurrence of an Event of Default which is continuing, any sums paid in respect of the Pledged Property upon the liquidation or
dissolution of the Issuers shall forthwith be paid to the Administrative Agent to be held by it as part of the Pledged Property. Upon the occurrence of an Event of Default which is continuing, any distribution of capital made in respect of the
Pledged Property or any property distributed with respect to the Pledged Property pursuant to the recapitalization, reclassification or reorganization of the capital of the Issuers, the property so distributed shall forthwith be delivered to the
Administrative Agent or its agent or nominee as the Administrative Agent may direct to be held by it as part of the Pledged Property. Upon the occurrence of an Event of Default which is continuing, if any money or property paid or distributed in
respect of the Pledged Property shall be received by the Grantor, the Grantor shall, until such money or property is paid or delivered to the Administrative Agent, hold the money or property in trust for the Administrative Agent, segregated from
other funds of the Grantor, as part of the Pledged Property; 

  

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	 	(ii)	Issuance of Additional Securities — It shall not permit any issuance of additional Securities in the capital of the Issuers unless all such additional
Securities are, immediately upon their issuance, pledged with a first priority security interest in favour of the Administrative Agent and the Grantor does, or causes to be done, all such acts and things and provides such agreements, instruments and
documents necessary for the Administrative Agent to obtain control of such additional Securities within the meaning of the STA; 

  

	 	(iii)	Equity Interests — The Grantor shall not acquire any interest in, or title to, any uncertificated security or any share, participation or other interest of
or in any Issuer, or in property or an enterprise of any Issuer, that is not a security within the meaning of the STA (each an “Equity Interest”) without, prior to obtaining or acquiring such Equity Interest, receiving from the
Administrative Agent confirmation that all agreements, instruments, documents and things have been provided, and all acts and things have been done, that are determined by the Administrative Agent to be necessary or desirable to ensure that the
Administrative Agent has and will continue to have a valid and perfected first priority Lien in such Equity Interest securing the Secured Obligations; 

  

	 	(iv)	No Transfer — It shall not sell, dispose of assign, convey or otherwise transfer any of the Pledged Property, or any rights thereunder other than pursuant
to the Credit Documents; and 

  

	 	(v)	No Granting of Control — It shall not: 

  

	 	(A)	deliver any Pledged Property that constitutes uncertificated Securities to any Person other than the Administrative Agent; or 

  

	 	(B)	consent to any agreement whereby any Issuer agrees to comply with instructions that are originated by any Person other than the Administrative Agent in respect of any
Pledged Property held by the Grantor that constitutes uncertificated Securities. 

 ARTICLE 5 
 RIGHT TO DEAL 
  

	5.1	Rights before Default 

 Until the
occurrence of an Event of Default which is continuing and subject to the terms of this Agreement, the Grantor is entitled to deal with the Pledged Property in the ordinary course of business, provided that no such action shall be taken by the
Grantor or permitted by the Grantor to be taken by another party which would impair the effectiveness of the Security Interests or the value of the Pledged Property or which would be inconsistent with or violate the provisions of this Agreement, any
other Credit Document or any Control Agreement. Upon the occurrence of an Event of Default which is continuing, the Grantor shall and shall be deemed to hold all Proceeds in trust, separate and apart from other money, instruments, investment
property or property, for the benefit of the Administrative Agent. Notwithstanding, the principal amount of the Pledged Property can increase in accordance with the terms of the Subordination Agreement. 
  

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	5.2	Investment Property 

  

	 	(a)	Until the occurrence of an Event of Default which is continuing, the Grantor shall be entitled to exercise all voting rights in respect of the Pledged Property and to
give consents, waivers, directions, notices and ratifications and take other action in respect thereof, provided, however, that no votes shall be cast or consent, waiver, direction, notice or ratification given or action taken which would:

  

	 	(i)	be prejudicial to the Security Interest; 

  

	 	(ii)	impair or reduce the value of in any material respect or restrict the transferability of the Pledged Securities; or 

  

	 	(iii)	be inconsistent with or violate any provisions of this Agreement or any other Credit Document or any other agreement. 

  

	 	(b)	Until the occurrence of an Event of Default which is continuing, if any of the Pledged Securities held by the Grantor are registered in the Administrative Agent’s,
its agent’s or nominee’s name, the Administrative Agent, on the Grantor’s written request, shall execute and deliver or cause its agent or nominee to execute and deliver to the Grantor suitable proxies, voting powers or powers of
attorney in favour of the Grantor or its nominee or nominees for voting or taking any other action the Grantor is permitted to take in respect of such Pledged Securities. 

  

	5.3	Dividends and Distributions 

 Until the
occurrence of an Event of Default which is continuing, the Grantor shall be entitled to receive and deal with (except as restricted by this Agreement, any other Credit Document, any other written agreement between the Administrative Agent and the
Grantor, or any Control Agreement) any interest and regular cash dividends and other distributions at any time payable on or with respect to the Pledged Property held by the Grantor, and the Administrative Agent shall immediately deliver to the
Grantor the interest or regular cash dividends received by the Administrative Agent. 
  

	5.4	Rights and Duties of the Administrative Agent 

 Upon the occurrence of an Event of Default which is continuing, all of the Grantor’s rights pursuant to Sections 5.1, 5.2 and 5.3 shall cease and the Administrative Agent may enforce the Grantor’s rights with respect to the
Pledged Property held by the Grantor. Upon the occurrence of an Event of Default which is continuing, the Grantor shall and shall be deemed to hold all Pledged Property not under the control of the Administrative Agent in trust, separate and apart
from other property and assets of the Grantor, for the benefit of the Administrative Agent, and shall forthwith transfer control of such Pledged Property to the Administrative Agent, or its nominee or agent, as the Administrative Agent may direct.
The Administrative Agent and its nominee shall not have any duty of care with respect to the Pledged Property other than to use the same care in the custody and preservation of the Pledged Property as it would with its own property. The
Administrative Agent or its nominee may take no steps to defend or preserve the

  

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Grantor’s rights against the claims or demands of others. The Administrative Agent or its nominee, however, shall use its reasonable best efforts to give the Grantor notice of any claim or
demand of which it becomes aware to permit the Grantor to have a reasonable opportunity to defend or contest the claim or demand. 
 ARTICLE 6 
 REMEDIES 
  

	6.1	Administrative Agent’s Rights and Remedies 

 If any Event of Default shall occur and be continuing, the Administrative Agent may, in its discretion and in accordance with the Credit Agreement, proceed to enforce payment and performance of all or any part of the Secured Obligations and
to exercise any or all of the rights and remedies contained in this Agreement and the Credit Agreement, or otherwise afforded by applicable Law, in equity or otherwise. The Administrative Agent shall have the right to enforce one or more remedies
successively or concurrently in accordance with applicable Law and the Administrative Agent expressly retains all rights and remedies not inconsistent with the provisions in this Agreement including all the rights it may have under the PPSA. Without
limitation, the Administrative Agent may, upon the occurrence of an Event of Default which is continuing and to the extent permitted by applicable Law: 
  

	 	(a)	Appointment of Receiver — Appoint by instrument in writing a receiver (which term shall include a receiver and manager or agent) of the Grantor and of all
or any part of the Pledged Property and remove or replace such receiver from time to time or may institute proceedings in any court of competent jurisdiction for the appointment of a receiver. Any such receiver appointed by the Administrative Agent,
with respect to responsibility for its acts, shall, to the extent permitted by applicable Law, be deemed the agent of the Grantor and not of the Administrative Agent. Where the “Administrative Agent” is referred to in this Article 6
the reference includes, where the context permits, any receiver so appointed and the officers, employees, servants or agents of such receiver; 

  

	 	(b)	Retain the Pledged Property — Retain and administer the Pledged Property in the Administrative Agent’s sole and unfettered discretion, which discretion
the Grantor acknowledges is commercially reasonable; 

  

	 	(c)	Dispose of the Pledged Property — Dispose of any of the Pledged Property by public auction, private tender or private contract with or without notice,
advertising or any other formality, all of which are waived by the Grantor to the extent permitted by applicable Law. The Administrative Agent may, to the extent permitted by applicable Law, at its discretion, establish the terms of such
disposition, including terms and conditions as to credit, upset, reserve bid or price. All payments made pursuant to such dispositions shall be credited against the Secured Obligations only as they are actually received. The Administrative Agent
may, to the extent permitted by applicable Law, enter into, rescind or vary any contract for the disposition of any Pledged Property and may dispose of any Pledged Property again without being answerable for any related loss. Any such disposition
may take place whether or not the Administrative Agent has taken possession of the Pledged Property; 

  

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	 	(d)	Investment Property — 

  

	 	(i)	Exercise of Rights — Direct, by written notice to the Grantor and to an officer of the issuer of the Pledged Property or to any securities intermediary or
futures intermediary in respect of the Pledged Property, as may be applicable, that all or part of the rights of the Grantor in the Pledged Securities, including, as applicable, the right to vote, give consents, entitlement orders, instructions,
directions, waivers or ratifications and take other actions and receive interest or regular cash dividends, payments or other distributions shall cease, and upon such election all such rights shall become vested in the Administrative Agent or as it
may direct; 

  

	 	(ii)	Rights as Owners — Exercise any or all of the rights and privileges attaching to the Pledged Property and deal with the Pledged Property as if the
Administrative Agent were the absolute owner of the Pledged Property (including the right to exchange at its discretion, any and all of the investment property upon the issuer’s amalgamation, merger, consolidation, reorganization,
recapitalization, restructuring or other readjustment or upon the issuer’s exercise of any right, privilege or option pertaining to any of the Pledged Securities and to deposit and deliver any and all of the Pledged Securities with any
committee, depositary, transfer agent, registrar, securities intermediary, futures intermediary, clearing agency or other designated agency upon such terms and conditions as it may determine) and collect, draw upon, receive, appropriate and sell all
or any part of the Pledged Property, as applicable; and 

  

	 	(iii)	Application to Debt — Apply any dividends, interest, distributions and other payments payable to the Administrative Agent in respect of the Pledged Property
to the Secured Obligations, in any manner as the Administrative Agent, in its absolute discretion, shall deem appropriate; 

  

	 	(e)	Bankruptcy Claims — File proofs of claims or other documents as may be necessary or desirable to have its claim lodged in any bankruptcy, winding-up,
liquidation, arrangement, dissolution or other proceedings (voluntary or otherwise) relating to the Grantor; 

  

	 	(f)	Enforcing Third Party Obligations — In the Grantor’s name, perform, at the Grantor’s expense, any and all of the Grantor’s obligations or
covenants relating to the Pledged Property and enforce performance by any other parties of their obligations in relation to the Pledged Property and settle any disputes with other parties upon terms that the Administrative Agent deems appropriate,
in its absolute discretion; 

  

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	 	(g)	Payment of Deficiency — If the proceeds of realization are insufficient to pay all monetary Secured Obligations, the Grantor shall forthwith pay or cause to
be paid to the Administrative Agent any deficiency and the Administrative Agent may sue the Grantor to collect the amount of such deficiency; and 

  

	 	(h)	Dealing with Pledged Property — Subject to applicable Law, seize, collect, realize, borrow money on the security of, release to third parties, sell (by way
of public or private sale), lease or otherwise deal with the Pledged Property in such manner, upon such terms and conditions, at such time or times and place or places and for such consideration as may seem to the Administrative Agent advisable and
without notice to the Grantor. The Administrative Agent may charge on its own behalf and pay to others sums for expenses incurred and for services rendered (expressly including legal, consulting, broker, management, receivership and accounting fees)
in or in connection with seizing, collecting, realizing, borrowing on the security of, selling or obtaining payment of the Pledged Property and may add all such sums to the Secured Obligations. 

  

	6.2	Allocation of proceeds 

 All monies
collected or received by the Administrative Agent in respect of the Pledged Property shall be applied by the Administrative Agent in accordance with this Agreement and the Credit Agreement. 
  

	6.3	Waivers and Extensions 

 Subject to the
terms of the Credit Agreement, the Administrative Agent may waive default or any breach by the Grantor of any of the provisions contained in this Agreement pursuant to the Credit Agreement. No waiver shall extend to a subsequent breach or default,
whether or not the same as or similar to the breach or default waived and no act or omission of the Administrative Agent shall extend to or be taken in any manner whatsoever to affect any subsequent breach or default of the Grantor or the rights of
the Administrative Agent resulting therefrom. Any such waiver must be in writing and signed by the Administrative Agent as required pursuant to the terms of the Credit Agreement to be effective. 
 Subject to the terms of the Credit Agreement, the Administrative Agent may also grant extensions of time, forbearance, indulgences or other accommodations,
take and give up Securities, accept compositions, grant releases and discharges, release the Pledged Property to third parties and otherwise deal with the Grantor’s guarantors or sureties and others and with the Pledged Property and other
Securities (collectively, the “Waivers”) as the Administrative Agent may see fit without prejudice to the liability of the Grantor to the Secured Creditors, or the Administrative Agent’s rights, remedies and powers under this
Agreement. No extensions of any Waiver now, heretofore or hereafter given by the Administrative Agent to the Grantor shall operate as a waiver, alteration or amendment of the rights of the Administrative Agent or otherwise preclude the
Administrative Agent from enforcing such rights. 
  

 14 

	6.4	Remedies Cumulative and Waivers 

 For
greater certainty, it is expressly understood and agreed that the rights and remedies of the Administrative Agent under this Agreement are cumulative and are in addition to and not in substitution for any rights or remedies provided by applicable
Law or equity; and any single or partial exercise by the Administrative Agent of any right or remedy for a default or breach of any term, covenant, condition or agreement contained in this Agreement shall not be deemed to be a waiver of, or to
alter, affect or prejudice, any other right or remedy to which the Administrative Agent may be lawfully entitled for such default or breach. Any waiver by the Administrative Agent of the strict observance, performance or compliance with any term,
covenant, condition or other matter contained in this Agreement and any indulgence granted, either expressly or by course of conduct by the Administrative Agent shall be effective only in the specific instance and for the purpose for which it was
given and shall be deemed not to be a waiver of any right or remedy of the Administrative Agent under this Agreement as a result of any other default or breach under this Agreement. 
  

	6.5	Effect of Possession or Receiver 

 Upon
the occurrence of an Event of Default which is continuing, all powers, functions, rights and privileges of the Grantor and the directors and officers of the Grantor with respect to the Pledged Property shall cease, unless specifically continued by
the written consent of the Administrative Agent or the receiver. Where the “Administrative Agent” is referred to in this Article 6 the reference includes, where the context permits, any receiver so appointed and the officers,
employees, servants or agents of such receiver. 
  

	6.6	Sale of Pledged Property 

 The
Administrative Agent shall give to the Grantor notice of any sale pursuant to Section 6.1. Any sale pursuant to this Section 6.6 may be made, whether commercially reasonable or not, with or without any special condition as to the upset
price, reserve bid, title or evidence of title or other matter and may be made from time to time as the Administrative Agent in its sole discretion deems fit, with power to vary or rescind any sale or buy in at any public sale and resell without
being answerable for any loss. The Administrative Agent may sell the Pledged Property for a consideration payable by installments either with or without taking security for the payment of the installments and may make and deliver to any purchaser
good and sufficient conveyances of the Pledged Property and give receipts for the purchase money, and the sale shall be a perpetual bar, both at law and in equity, against the Grantor and all those claiming an interest by, from, through or under the
Grantor. If there is a sale pursuant to this Section 6.6, the Grantor agrees to provide all information, certificates and consents required under applicable securities laws or under the rules, by-laws or policies of the exchanges on which any
of the Pledged Property may be listed and posted for trading to permit the sale of the Pledged Property in compliance with applicable Laws, rules, by-laws or policies. 
 Without limiting the generality of Section 6.1, the Grantor acknowledges that when disposing of any of the Pledged Property, the Administrative Agent may be unable to effect a public sale of any or
all of the Pledged Property, or to sell any or all of the Pledged Property as a control block sale at more than a stated premium to the “market price” of any Securities forming part of the

  

 15 

 
Pledged Property, by reason of certain provisions contained in the Securities Act (Ontario) and applicable securities laws of other jurisdictions but may be compelled to resort to one or
more private sales to a restricted group of purchasers who will be obligated to agree, among other things, to acquire the Pledged Property as principal and to comply with any other resale restrictions provided for in the Securities Act
(Ontario) and other applicable securities laws. The Grantor acknowledges and agrees that any private sale may result in prices and other terms less favourable to the seller than if the sale were a public sale or a control block sale and,
notwithstanding such circumstances, agrees that any private sale shall not be deemed to have been made in a commercially unreasonable manner solely by reason of its being a private sale. The Administrative Agent shall be under no obligation to:
(i) delay a sale of any of the Pledged Property for the period of time necessary to permit the issuer of the Pledged Property to qualify the Pledged Property for public sale under the Securities Act (Ontario) or under applicable
securities laws of other jurisdictions even if the issuer would agree to do so, or (ii) permit a prospective purchaser to make a formal offer to all or substantially all holders of any class of Securities forming any part of the Pledged
Property. 
 In addition, since United States federal and state securities laws may impose certain restrictions on the method by which a sale of
the Pledged Property may be effected, the Grantor agrees that the Administrative Agent may attempt to sell in the United States all or any part of the Pledged Property by a private placement. In so doing, the Administrative Agent may solicit offers
to buy all or any part of the Pledged Property for cash, from a limited number of investors deemed by the Administrative Agent, in its sole discretion, to be responsible parties who might be interested in purchasing the Pledged Property. If the
Administrative Agent shall solicit offers from not less than five investors, then the acceptance by the Administrative Agent of the highest offer obtained shall be deemed to be a commercially reasonable method of disposition of the Pledged Property.

  

	6.7	Limitation of Liability 

 The
Administrative Agent shall not be liable or accountable: 
  

	 	(a)	by reason of taking possession of all or any of the Pledged Property, to account as mortgagee in possession or for anything except actual receipts, or for any loss on
realization or any act or omission for which a Secured Creditor in possession might be liable, except where any failure to do so is as a result of gross negligence or wilful misconduct of the Administrative Agent; or 

  

	 	(b)	for any failure to (i) exercise or exhaust any of its rights and remedies, (ii) take possession of, seize, collect, realize, sell, lease or otherwise dispose
of or obtain payment for the Pledged Property, or (iii) protect the Pledged Property from depreciating in value or becoming worthless, absent gross negligence or wilful misconduct, and shall not, in each case, be bound to institute proceedings
for such purposes or for the purpose of preserving any rights, remedies or powers of the Administrative Agent, the Grantor or any other Person in respect of same; except where any failure to do so is as a result of gross negligence or wilful
misconduct of the Administrative Agent. 

  

 16 

 The Administrative Agent shall not by virtue of this Agreement be deemed to be a mortgagee in possession of
the Pledged Property. The Grantor releases and discharges the Administrative Agent and the receiver from every claim of every nature, whether sounding in damages or not, which may arise or be caused to the Grantor or any Person claiming through or
under the Grantor by reason or as a result of anything done or not done by the Administrative Agent or any successor or assign claiming through or under the Administrative Agent or the receiver under the provisions of this Agreement unless such
claim be the result of dishonesty, wilful misconduct or gross negligence. 
 ARTICLE 7 
 POWER OF ATTORNEY 
  

	7.1	Grant 

 The Grantor hereby irrevocably
constitutes and appoints the Administrative Agent (and any officer of the Administrative Agent) the true and lawful attorney of the Grantor with effect only while an Event of Default is continuing. As the attorney of the Grantor, the Administrative
Agent has the power, upon the occurrence and during the continuance of an Event of Default (but not prior to such occurrence and continuance of an Event of Default), to exercise for and in the name of the Grantor with full power of substitution any
of the Grantor’s right (including the right of disposal), title and interest in and to the Pledged Property including the execution, endorsement, delivery and transfer of the Pledged Property to the Administrative Agent, its nominees or
transferees, and the Administrative Agent and its nominees or transferees are hereby empowered to exercise all rights and powers and to perform all acts of ownership with respect to the Pledged Property to the same extent as the Grantor might do.
This power of attorney is irrevocable, is coupled with an interest, has been given for valuable consideration (the receipt and adequacy of which is acknowledged) and survives, and does not terminate upon, the bankruptcy, dissolution, winding up or
insolvency of the Grantor. This power of attorney extends to and is binding upon the Grantor’s successors and permitted assigns. The Grantor authorizes the Administrative Agent to delegate in writing to any receiver appointed by the
Administrative Agent (and to one or more officers, directors and employees of such receiver) any power and authority of the Administrative Agent under this power of attorney as may be necessary or desirable in the opinion of the Administrative
Agent, and to revoke or suspend such delegation. 
 ARTICLE 8 
 GENERAL 
  

	8.1	Expenses 

 The Grantor shall pay all
reasonable expenses, disbursements and advances (including the reasonable fees and disbursements of legal counsel and all other advisors, agents and assistants) incurred by the Administrative Agent and the Secured Creditors in connection with the
negotiation, preparation and execution of this Agreement and the perfection, protection of and enforcement under this Agreement, advice with respect to this Agreement, and those arising in connection with the delivery, control, realization,
disposition, retention, protection or collection of any Pledged Property and the protection or enforcement of the rights, remedies and powers of

  

 17 

 
the Administrative Agent, the Secured Creditors or any receiver and those incurred for perpetual registration of any financing statement registered in connection with the Security Interests. All
amounts for which the Grantor is required under this Agreement to reimburse the Administrative Agent, the Secured Creditors or any receiver shall (a) if funded by a Secured Creditor, bear interest from time to time at the rate of interest per
annum equal to the highest rate of interest applicable to any other Secured Obligations owed to such Secured Creditor and denominated in the same currency, from the date incurred, made or borrowed until paid in full, and (b) if funded by the
Administrative Agent, bear interest from time to time at a rate per annum equal to the then current rate of interest charged by the Administrative Agent to its corporate clients from 30 days after the issuance of the invoice from the Administrative
Agent to the Grantor until paid in full. 
  

	8.2	Demand Obligations 

 The fact that this
Agreement provides for events of default and rights of acceleration shall not derogate from the nature of any Secured Obligation which is payable on demand. 
  

	8.3	Notices 

 Any notice, consent or approval
required or permitted to be given in connection with this Agreement shall be in writing and shall be sufficiently given if delivered pursuant to the Credit Agreement. 
  

	8.4	Continuing Security 

 The Security
Interest is not in substitution for any other security for the Secured Obligations or for any other agreement between the parties creating a security interest in all or part of the Pledged Property, whether made before or after this Agreement, and
such security and such agreements shall be deemed to be continuing and not affected by this Agreement unless the Administrative Agent and the Grantor expressly provide to the contrary in writing. 
  

	8.5	Amendment 

 No amendment, supplement,
modification or waiver or termination of this Agreement and, unless otherwise specified, no consent or approval by any party, shall be binding unless executed in writing by the Grantor and the Administrative Agent. 
  

	8.6	Assignment and Enurement 

 This Agreement
may be assigned by the Administrative Agent to a successor as permitted under the Credit Agreement and any such assignee shall be entitled to exercise any and all discretions, powers and rights of the Administrative Agent under this Agreement. The
Grantor may not assign this Agreement or any of its rights or obligations under this Agreement. All of the Administrative Agent’s rights under this Agreement shall enure to the benefit of its successors and assigns and all of the Grantor’s
obligations under this Agreement shall bind the Grantor and its successors and assigns. 
  

 18 

	8.7	Further Assurances 

 The Grantor shall at
all times do all such things and provide all such reasonable assurances as may be required to consummate the transactions contemplated by this Agreement, and shall provide such further documents or instruments required by the Administrative Agent as
may be reasonably necessary or desirable (i) to effect the purpose of this Agreement and carry out its provisions, and (ii) for improving the granting, transferring, assigning, charging, setting over, assuring, confirming or perfecting the
Security Interest and the priority accorded to them by applicable Law or under this Agreement. 
  

	8.8	Filings 

 The Grantor covenants and agrees
with the Administrative Agent that to the extent possible prior to, and otherwise immediately after, the execution of this Agreement it shall register, file or record, or cause to be registered, filed or recorded, this Agreement in all registry
offices in all registration divisions where such registration, filing or recording is necessary or of advantage in relation to the creation, perfection, preservation, enforcement or priority of the Liens granted or created thereby as determined by
counsel or the Administrative Agent. The Grantor shall cause, at the Grantor’s expense, this Agreement to be registered, filed, recorded and renewed in all offices in all jurisdictions where such registration, filing or recording is necessary
or desirable for the creation, enforceability, perfection, priority, preservation and maintenance of this Agreement or as the Administrative Agent may from time to time reasonably require. The Grantor agrees that it shall pay, or indemnify the
Administrative Agent and the Secured Creditors against, any and all stamp duties, registration, filing and recordation fees and similar taxes or charges which may be payable or determined to be payable by the Administrative Agent or the Secured
Creditors in connection with the execution, delivery, performance, registration or enforcement of this Agreement or any action taken under or transaction contemplated by this Agreement. The Administrative Agent is, however, authorized, at its
option, but shall have no obligation, to make such registrations, filings or recordings or such re-registrations, re-filings or re-recordings against the Grantor as it may deem necessary or appropriate to perfect, maintain or protect the Security
Interest created under this Agreement. 
  

	8.9	Execution and Delivery 

 This Agreement
may be executed by the parties in counterparts and may be executed and delivered by facsimile or other electronic means and all such counterparts, facsimiles or other electronic means shall together constitute one and the same agreement. This
Agreement shall become effective when it has been executed by the Administrative Agent and when the Administrative Agent has received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of
an executed counterpart of a signature page of this Agreement by telecopy, facsimile or by sending a scanned copy by electronic mail shall be effective as delivery of a manually executed counterpart of this Agreement. 
 The Grantor acknowledges receiving a copy of this Agreement, and further agrees that a carbon, photographic, photostatic or other reproduction of this
Agreement or of a financing statement is sufficient as a financing statement. 
  

 19 

	8.10	Security Interests Effective Immediately 

 Neither the execution of, nor any filing with respect to, this Agreement shall obligate any Secured Creditor to make any advance or loan or further advance, or bind any Secured Creditor to grant or extend any credit to the Grantor, but the
Security Interests shall take effect forthwith upon the execution of this Agreement by the Grantor. 
  

	8.11	Reasonableness 

 To the fullest extent
permitted by Law, the Grantor acknowledges that the provisions of this Agreement and, in particular, those respecting rights, remedies and powers of the Secured Creditors and any receiver against the Grantor and any Pledged Property upon the
occurrence of an Event of Default, are not manifestly unreasonable. 
  

	8.12	Attornment 

 Each of the parties
irrevocably submits to the non-exclusive jurisdiction of any court in the Province of Ontario for the purposes of any legal or equitable suit, action or proceeding in connection with this Agreement. 
  

	8.13	Administrative Agent 

 The Administrative
Agent shall have all of the rights, benefits, immunities, privileges and indemnities set forth in the Credit Agreement, all of which are incorporated by reference herein mutatis mutandis. All of the provisions incorporated herein pursuant to
this Section 8.13 and stated to survive the termination of the Credit Agreement and repayment of the Secured Obligations shall survive the termination of the Credit Agreement and repayment of the Secured Obligations and remain incorporated
herein. 
 Without limiting the generality of the foregoing, the Grantor and the Issuers each confirm and agree that any subordination
provisions contained in any documents evidencing any subordinated indebtedness which constitutes Pledged Indebtedness shall be for the benefit of the Administrative Agent and that the Administrative Agent may enforce such provisions as if it was a
party to such documents. 
  

	8.14	Security Document 

 This document is a
Credit Document as such term is defined in the Credit Agreement. 
 [signature pages follow] 
  

 20 

 IN WITNESS OF WHICH the Grantor and the Administrative Agent have duly executed this Agreement as of
the date first written above. 
  

			
	ENTERTAINMENT PROPERTIES TRUST, as Grantor
		
	By:	 	/s/ Mike Hirons
		 	 Name: Mike Hirons
 Title:
Vice President Finance

  

			
	ROYAL BANK OF CANADA, as Administrative Agent
		
	By:	 	/s/ Susan Khokher
		 	 Name: Susan Khokher
 Title:
Manager, Agency

		
	By:	 	 
		 	 Name:
 Title:

 Acknowledged and agreed to: 
  

			
	EPR METROPOLIS TRUST
		
	By:	 	/s/ Mike Hirons
		 	 Name:  Mike Hirons
 Title:  Signatory Trustee

	
	 I have authority to bind the Trust.
  
 YONGEDUNDAS SIGNAGE TRUST

		
	By:	 	/s/ Mike Hirons
		 	 Name:  Mike Hirons
 Title:  Signatory Trustee

	
	I have authority to bind the Trust.

 SCHEDULE 1.1 
 ISSUERS 
  

					
	 Issuer
	  	 Jurisdiction
	  	 Registered and head office

	EPR Metropolis Trust	  	Delaware	  	 Rodney Square North
 1100
North Market
 Street Wilmington,
 Delaware 19890-0001
 U.S.A.

			
	YongeDundas Signage Trust	  	Delaware	  	 Rodney Square North
 1100
North Market
 Street Wilmington,
 Delaware 19890-0001
 U.S.A.

 SCHEDULE 1.2 
 PLEDGED INDEBTEDNESS 
 1. Amended and Restated Subordinated
Promissory Note No. 1 of EPR Metropolis Trust dated March 4, 2010 in favour of Entertainment Properties Trust with an initial maturity date of March 4, 2015 and an extended maturity date of March 4, 2020. 
 2. Subordinated Promissory Note No. 1 of YongeDundas Signage Trust dated March 4, 2010 in favour of Entertainment Properties Trust with an initial
maturity date of March 4, 2015 and an extended maturity date of March 4, 2020. 

 SCHEDULE 4.1(C) 
 PLEDGED SECURITIES 
  

						
	 Grantor
	  	 Issuer
	  	Percentage of
Economic Interest	 
	Entertainment Properties Trust	  	EPR Metropolis Trust	  	100	% 
	Entertainment Properties Trust	  	YongeDundas Signage Trust	  	100	%Form of Restricted Stock Unit Agreement under the 2000 Equity Incentive Plan

 Exhibit 10.6 
 EXELIXIS, INC. 
 2000
EQUITY INCENTIVE PLAN 
 RESTRICTED STOCK
UNIT AGREEMENT 
 Pursuant to the Restricted Stock Unit Grant Notice (“Grant
Notice”) and this Restricted Stock Unit Agreement and in consideration of your services, Exelixis, Inc. (the “Company”) has awarded you a Restricted Stock Unit Award (the “Award”) under
its 2000 Equity Incentive Plan (the “Plan”). Your Award is granted to you effective as of the Date of Grant set forth in the Grant Notice for this Award. This Restricted Stock Unit Award Agreement shall be deemed to be agreed
to by the Company and you upon the signing by you of the Restricted Stock Unit Grant Notice to which it is attached. Capitalized terms not explicitly defined in this Restricted Stock Unit Agreement shall have the same meanings given to them in the
Plan. In the event of any conflict between the terms in this Restricted Stock Unit Agreement and the Plan, the terms of the Plan shall control. The details of your Award, in addition to those set forth in the Grant Notice and the Plan, are as
follows. 
 1. GRANT OF THE AWARD. This Award represents the
right to be issued on a future date the number of shares of the Company’s Common Stock as indicated in the Grant Notice. As of the Date of Grant, the Company will credit to a bookkeeping account maintained by the Company for your benefit (the
“Account”) the number of shares of Common Stock subject to the Award. This Award was granted in consideration of your services to the Company. Except as otherwise provided herein, you will not be required to make any payment
to the Company (other than past and future services to the Company) with respect to your receipt of the Award, the vesting of the shares or the delivery of the underlying Common Stock. 
 2. VESTING. Subject to the limitations contained herein, your Award will vest, if at all, in accordance with the
vesting schedule provided in the Grant Notice, provided that vesting will cease upon the termination of your Continuous Service. Upon such termination of your Continuous Service, the shares credited to the Account that were not vested on the date of
such termination will be forfeited at no cost to the Company and you will have no further right, title or interest in or to such underlying shares of Common Stock. 
 3. NUMBER OF SHARES. 
 (a)
The number of shares subject to your Award may be adjusted from time to time for capitalization adjustments, as provided in Section 11 of the Plan. 
 (b) Any shares, cash or other property that becomes subject to the Award pursuant to this Section 3, if any, shall be subject, in a manner determined by the Board, to the same forfeiture
restrictions, restrictions on transferability, and time and manner of delivery as applicable to the other shares covered by your Award. 
 (c) Notwithstanding the provisions of this Section 3, no fractional shares or rights for fractional shares of Common Stock shall be created pursuant to this Section 3. The Board shall, in
its discretion, determine an equivalent benefit for any fractional shares or fractional shares that might be created by the adjustments referred to in this Section 3. 
  

 1. 

 4. SECURITIES LAW COMPLIANCE. You may
not be issued any shares under your Award unless either (i) the shares are registered under the Securities Act; or (ii) the Company has determined that such issuance would be exempt from the registration requirements of the Securities Act.
Your Award also must comply with other applicable laws and regulations governing the Award, and you will not receive such shares if the Company determines that such receipt would not be in material compliance with such laws and regulations.

 5. LIMITATIONS ON TRANSFER. Your Award is not transferable, except by
will or by the laws of descent and distribution. In addition to any other limitation on transfer created by applicable securities laws, you agree not to assign, hypothecate, donate, encumber or otherwise dispose of any interest in any of the shares
of Common Stock subject to the Award until the shares are issued to you in accordance with Section 6 of this Agreement. After the shares have been issued to you, you are free to assign, hypothecate, donate, encumber or otherwise dispose of any
interest in such shares provided that any such actions are in compliance with the provisions herein and applicable securities laws. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company,
you may designate a third party who, in the event of your death, shall thereafter be entitled to receive any distribution of Common Stock to which you were entitled at the time of your death pursuant to this Agreement. 
 6. DATE OF ISSUANCE. 
 (a) The Company will deliver to you a number of shares of the Company’s Common Stock equal to the number of vested shares subject
to your Award, including any additional shares received pursuant to Section 3 above that relate to those vested shares on the applicable vesting date(s). However, if a scheduled delivery date falls on a date that is not a business day, such
delivery date shall instead fall on the next following business day. 
 (b) Notwithstanding the foregoing, in the event
that (i) you are subject to the Company’s policy permitting officers and directors to sell shares only during certain “window” periods, in effect from time to time or you are otherwise prohibited from selling shares of the
Company’s Common Stock in the public market and any shares covered by your Award are scheduled to be delivered on a day (the “Original Distribution Date”) that does not occur during an open “window period”
applicable to you, as determined by the Company in accordance with such policy, or does not occur on a date when you are otherwise permitted to sell shares of the Company’s common stock on the open market, and (ii) the Company elects not
to satisfy its tax withholding obligations by withholding shares from your distribution, then such shares shall not be delivered on such Original Distribution Date and shall instead be delivered on the first business day of the next occurring open
“window period” applicable to you pursuant to such policy (regardless of whether you are still providing continuous services at such time) or the next business day when you are not prohibited from selling shares of the Company’s
Common Stock in the open market, but in no event later than the fifteenth (15th) day of the third calendar month of the calendar year following the calendar year in which the Original Distribution Date occurs. The form of such delivery
(e.g., a stock certificate or electronic entry evidencing such shares) shall be determined by the Company. 
  

 2. 

 7. DIVIDENDS. You shall receive no benefit or adjustment to your Award
with respect to any cash dividend, stock dividend or other distribution that does not result from a Capitalization Adjustment as provided in the Plan; provided, however, that this sentence shall not apply with respect to any shares of Common Stock
that are delivered to you in connection with your Award after such shares have been delivered to you. 
 8.
RESTRICTIVE LEGENDS. The shares issued under your Award shall be endorsed with appropriate legends determined by the Company. 
 9. AWARD NOT A SERVICE CONTRACT. 
 (a) Your Continuous Service with the Company or an Affiliate is not for any specified term and may be terminated by you or by the Company or an Affiliate at any time, for any reason, with or
without cause and with or without notice. Nothing in this Restricted Stock Unit Agreement (including, but not limited to, the vesting of your Award pursuant to the schedule set forth in Section 2 herein or the issuance of the shares
subject to your Award), the Plan or any covenant of good faith and fair dealing that may be found implicit in this Restricted Stock Unit Agreement or the Plan shall: (i) confer upon you any right to continue in the employ of, or
affiliation with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or
condition of employment or affiliation; (iii) confer any right or benefit under this Restricted Stock Unit Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Agreement or Plan; or
(iv) deprive the Company of the right to terminate you at will and without regard to any future vesting opportunity that you may have. 
 (b) By accepting this Award, you acknowledge and agree that the right to continue vesting in the Award pursuant to the schedule set forth in Section 2 is earned only by continuing as an
employee, director or consultant at the will of the Company (not through the act of being hired, being granted this Award or any other award or benefit) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or
more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a “reorganization”). You further acknowledge and agree that such a reorganization could result in the termination of your Continuous
Service, or the termination of Affiliate status of your employer and the loss of benefits available to you under this Restricted Stock Unit Agreement, including but not limited to, the termination of the right to continue vesting in the Award. You
further acknowledge and agree that this Restricted Stock Unit Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of
them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Agreement, for any period, or at all, and shall not interfere in any way with your right or the Company’s right to
terminate your Continuous Service at any time, with or without cause and with or without notice. 
  

 3. 

 10. WITHHOLDING OBLIGATIONS. 
 (a) On or before the time you receive a distribution of the shares subject to your Award, or at any time thereafter as requested by
the Company, you hereby authorize any required withholding from the Common Stock issuable to you and/or otherwise agree to make adequate provision in cash for any sums required to satisfy the federal, state, local and foreign tax withholding
obligations of the Company or any Affiliate which arise in connection with your Award (the “Withholding Taxes”). Additionally, the Company may, in its sole discretion, satisfy all or any portion of the Withholding Taxes
obligation relating to your Award by any of the following means or by a combination of such means: (i) withholding from any compensation otherwise payable to you by the Company; (ii) causing you to tender a cash payment; or
(iii) withholding shares of Common Stock from the shares of Common Stock issued or otherwise issuable to you in connection with the Award with a Fair Market Value (measured as of the date shares of Common Stock are issued to you pursuant to
Section 6) equal to the amount of such Withholding Taxes; provided, however, that the number of such shares of Common Stock so withheld shall not exceed the amount necessary to satisfy the Company’s required tax withholding obligations
using the minimum statutory withholding rates for federal, state, local and foreign tax purposes, including payroll taxes, that are applicable to supplemental taxable income. 
 (b) Unless the tax withholding obligations of the Company and/or any Affiliate are satisfied, the Company shall have no obligation to
deliver to you any Common Stock. 
 (c) In the event the Company’s obligation to withhold arises prior to the
delivery to you of Common Stock or it is determined after the delivery of Common Stock to you that the amount of the Company’s withholding obligation was greater than the amount withheld by the Company, you agree to indemnify and hold the
Company harmless from any failure by the Company to withhold the proper amount. 
 11. UNSECURED
OBLIGATION. Your Award is unfunded, and as a holder of a vested Award, you shall be considered an unsecured creditor of the Company with respect to the Company’s obligation, if any, to issue shares pursuant to this Agreement.
You shall not have voting or any other rights as a stockholder of the Company with respect to the shares to be issued pursuant to this Agreement until such shares are issued to you pursuant to Section 6 of this Agreement. Upon such issuance,
you will obtain full voting and other rights as a stockholder of the Company. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship
between you and the Company or any other person. 
 12. OTHER DOCUMENTS. You hereby
acknowledge receipt or the right to receive a document providing the information required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Plan prospectus. In addition, you acknowledge receipt of the Company’s policy
permitting officers and directors to sell shares only during certain “window” periods and the Company’s insider trading policy, in effect from time to time. 
 13. NOTICES. Any notices provided for in your Award or the Plan shall be given in writing and shall be deemed
effectively given upon receipt or, in the case of notices delivered by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company. Notwithstanding
the foregoing, the Company may, in its sole discretion, decide to deliver any documents related to

  

 4. 

 
participation in the Plan and this Award by electronic means or to request your consent to participate in the Plan by electronic means. You hereby consents to receive such documents by electronic
delivery and, if requested, to agree to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company. 
 14. MISCELLANEOUS. 
 (a) The rights and obligations of the Company under your Award shall be transferable to any one or more persons or entities, and all covenants and agreements hereunder shall inure to the benefit
of, and be enforceable by the Company’s successors and assigns. Your rights and obligations under your Award may only be assigned with the prior written consent of the Company. 
 (b) You agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of the
Company to carry out the purposes or intent of your Award. 
 (c) You acknowledge and agree that you have reviewed your
Award in its entirety, have had an opportunity to obtain the advice of counsel prior to executing and accepting your Award, and fully understand all provisions of your Award. 
 (d) This Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental
agencies or national securities exchanges as may be required. 
 (e) All obligations of the Company under the Plan and
this Agreement shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets
of the Company. 
 15. GOVERNING PLAN DOCUMENT. Your Award is subject to all
the provisions of the Plan, the provisions of which are hereby made a part of your Award, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan.
Except as expressly provided herein, in the event of any conflict between the provisions of your Award and those of the Plan, the provisions of the Plan shall control. 
 16. SEVERABILITY. If all or any part of this Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall
not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid. Any Section of this Agreement (or part of such a Section) so declared to be unlawful or invalid shall, if possible, be construed in a manner which will
give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid. 
  

 5. 

 17. EFFECT ON OTHER EMPLOYEE
BENEFIT PLANS. The value of the Award subject to this Agreement shall not be included as compensation, earnings, salaries, or other similar terms used when calculating the Employee’s benefits under any employee
benefit plan sponsored by the Company or any Affiliate, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the Company’s or any Affiliate’s employee benefit
plans. 
 18. CHOICE OF LAW. The interpretation, performance and enforcement
of this Agreement will be governed by the law of the state of California without regard to such state’s conflicts of laws rules. 
 19. AMENDMENT. This Agreement may not be modified, amended or terminated except by an instrument in writing, signed by you and by a duly authorized representative of the Company. Notwithstanding the foregoing, this
Agreement may be amended solely by the Board by a writing which specifically states that it is amending this Agreement, so long as a copy of such amendment is delivered to you, and provided that no such amendment adversely affecting your rights
hereunder may be made without your written consent. Without limiting the foregoing, the Board reserves the right to change, by written notice to you, the provisions of this Agreement in any way it may deem necessary or advisable to carry out the
purpose of the grant as a result of any change in applicable laws or regulations or any future law, regulation, ruling, or judicial decision, provided that any such change shall be applicable only to rights relating to that portion of the Award
which is then subject to restrictions as provided herein. 
  

 6.

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