Document:

EX-10.19

 Exhibit 10.19 

Execution Version 
 SECOND AMENDMENT OF LEASE

 THIS SECOND AMENDMENT OF LEASE (“Second Amendment”) made this      day of
September, 2017, by Somerset Holmdel Development I Urban Renewal, L.P., a New Jersey Limited Partnership with an address of 101 Crawfords Corner Road, Holmdel, NJ 07733 (“Landlord”) and iCIMS, Inc., a New Jersey corporation with an
address of 90 Matawan Road, Matawan, NJ 07747 (“Tenant”). 
 RECITALS 

 

	 	A.	 	Pursuant to a Lease Agreement dated July 8, 2016 between Landlord and Tenant, as amended by that certain First Amendment of Lease dated October 27, 2016 (“First Amendment” and collectively
with the aforementioned Lease Agreement dated July 8, 2016, the “Lease”), Tenant leases the Premises (that is more particularly described in the Lease) from Landlord. 

 

	 	B.	 	Landlord and Tenant now desire to amend and modify certain provisions of the Lease as more particularly set forth in this Second Amendment. 

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the sum of $10 and other good and valuable
consideration, the receipt and sufficiency of which are all hereby acknowledged by each of the parties, Landlord and Tenant agree as follows: 
  

	 	1.	 	Recitals; Definitions. The Recitals set forth above are true and correct and by this referenced are incorporated herein in their entirety. All capitalized terms contained in this Second Amendment
that are not otherwise defined herein will, for the purposes hereof, have the same meanings as are ascribed to them in the Lease. 

  

	 	2.	 	Lease Amendments. The Lease is hereby amended as follows: 

  

	 	a.	 Rentable Square Footage. 

 

	 	i.	 Section 1.3 of the Lease is revised to provide that the RSF of the Premises is changed from 340,449 RSF to
331,378 RSF. 

  

	 	ii.	 Section 1.3(A) of the Lease is revised to provide that the RSF of the Concourse Level Floor Space is
changed from 37,989 RSF to 28,916 RSF. 

  

	 	b.	 First Phase Rent Commencement Date. Section 2.2 of the Lease is deleted in its
entirety and replaced with the following new Section 2.2: 

 “2.2. The “First Phase Rent
Commencement Date of this Lease will be the earlier to occur of: (i) the day upon which Tenant commences business in any portion of the Premises, or (ii) November 20, 2017 subject to any delay in the Completion Date for the Premises
caused by Landlord. 

	 	c.	 Second Phase Rent Commencement Date. Section 2.3 of the Lease is deleted in its
entirety and replaced with the following new Section 2.3: 

 “2.3. The “Second
Phase Rent Commencement Date” will be the earliest to occur of: (i) the day upon which Tenant commences business in any portion of the Second Phase, or (ii) August 1, 2019 subject to any delay in the Completion Date for the
Second Phase caused by Landlord.” 
  

	 	d.	 Third Phase Rent Commencement Date. Section 2.4 of the Lease is deleted in its
entirety and replaced with the following new Section 2.4: 

 “2.4. The “Third Phase Rent Commencement
Date” will be the earliest to occur of: (i) the day upon which Tenant commences business in any portion of the Third Phase, or (ii) February 1, 2021 subject to any delay in the Completion Date for the Third Phase caused by
Landlord.” 
  

	 	e.	 Rent Credit. 

 

	 	i.	 First Phase Rent Credit. The RSF of the First Phase is 186,602 RSF, and the table in
Section 3.6 is replaced with the following table: 

  

																									
	 Month(s)
	 	RSF	 	 	Fixed Rent
(per RSF)	 	 	RSF	 	 	Fixed Rent
(per RSF)	 	 	Monthly
Amount of
First Phase
Rent Credit	 	 	Total Amount of
First Phase Rent
Credit	 
	2- 12	 	 	157,686	 	 	$	24.00	 	 	 	28,916	 	 	$	12.00	 	 	$	344,288.00	 	 	$	3,787,168.00	 
	13	 	 	157,686	 	 	$	24.40	 	 	 	28,916	 	 	$	12.20	 	 	$	350,026.13	 	 	$	350,026.13	 
			 	$	4,137,194.13	 

  

	 	ii.	 Second Phase Rent Credit. Section 3.7 of the Lease is deleted in its entirety and any
reference in the Lease to the Second Phase Rent Credit is deleted in its entirety. 

  

	 	iii.	 Third Phase Rent Credit. Section 3.8 of the Lease is deleted in its entirety and any
reference in the Lease to the Third Phase Rent Credit is deleted in its entirety. 

  
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	 	f.	 Tenant’s Share. Section 4.1(1) of the Lease is revised to provide that
Tenant’s Share means 15.78% as of the First Phase Rent Commencement Date, 21.90% as of the Second Phase Rent Commencement Date, and 28.02% as of the Third Phase Rent Commencement Date. 

 

	 	g.	 Building Infrastructure Maintenance. The following provision is added at the end of
Section 5.3 of the Lease: 

 “Notwithstanding anything in this Lease to the contrary, Landlord reserves the
right, upon not less than 60 days’ prior notice and not more than 1 time in any calendar year (provided; however, that the preceding notice and frequency requirements will not be applicable in the event of an emergency), to perform a complete
Building shut down for a period not to exceed 24 hours to permit Landlord to perform Building infrastructure maintenance, e.g., electrical, high voltage infrastructure maintenance. Except in the event of an emergency, such shut down will occur on
Saturday and/or Sunday unless not reasonably practicable, in which event, such shut down will occur on such days other than Saturday and Sunday, subject to Tenant’s prior consent, which will not be unreasonably withheld, delayed, or
conditioned, and notice of which may be provided to Landlord in person, telephonically or via email notwithstanding the provisions of Article 23 of the Lease to the contrary.” 

 

	 	h.	 Additional Services or Utilities. Section 5.4 of the Lease is deleted in its entirety
and replaced with “Intentionally omitted”. 

  

	 	i.	 Landlord’s Contribution. Section 20.3(1) of the Lease is revised to provide that
the amount of the Landlord’s Contribution will be equal to $13,464,250, allocated as follows: 

  

	 	i.	 The First Phase Contribution is $8,397,090 ($45 multiplied by 186,602 RSF); 

 

	 	ii.	 The Second Phase Contribution is $2,533,580 ($35 multiplied by 72,388 RSF); and 

 

	 	iii.	 The Third Phase Contribution is $2,533,580 ($35 multiplied by 72,388 RSF). 

 

	 	j.	 Landlord’s Additional Contribution. The following provision is added to the Lease as
Section 20.3(L): 

  
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 “(L) Provided that subject to the terms of Section 10.9 of this
Lease (i) no Default has occurred or (ii) if a Default has occurred, Tenant has previously cured it in full or Landlord has have waived such Default, Landlord will pay Tenant the sum of $1,250,000 (“Landlord’s Additional
Contribution”). Landlord’s Additional Contribution will be paid during the construction of the First Phase in accordance with the provisions set forth in Section 20.3(I) of the Lease.” 

 

	 	k.	 Installation of Tenant Improvements. Landlord and Tenant acknowledge and agree that during
any period that the Rent Credit applies for an applicable Phase, Tenant may install its furniture, fixtures, and equipment in such portion of the Premises included in such Phase. 

 

	 	l.	 Parking. Section 26.1 is amended to provide that Tenant’s parking allotment is
933 spaces for the First Phase (based on the First Phase consisting of 186,602 RSF). Except as set forth in the preceding sentence, Section 26.1 is not amended, modified or replaced in any manner and remains in full force and effect.

  

	 	m.	 Occupancy Date. The reference to “24 months” in the second sentence of
Section 26.2 of the Lease is amended to “30 months”. Except as set forth in the preceding sentence, Section 26.2 is not amended, modified or replaced in any manner and remains in full force and effect. 

 

	 	n.	 Hotel. 

  

	 	i.	 The following provision is added to the Lease as Section 34.20: 

“34.20. Landlord has advised Tenant that a hotel is anticipated to be constructed as a new sixth floor of the Building
(“Hotel”). During construction of the Hotel, Landlord may be required by governmental bodies having jurisdiction over such construction and/or applicable Laws to prohibit occupancy of all or a portion of the Building, including the
Premises, during certain construction periods after 6 pm on weekdays or on weekends. Landlord will give Tenant at least 10 days’ prior written notice of any such prohibition on occupancy, which notice may be provided via email and
telephonically to Tenant’s construction representative (appointed pursuant to Section 20.4 of the Lease). Landlord and Tenant agree to cooperate with each other in the scheduling of the aforementioned prohibition on occupancy so as to
permit Landlord to timely complete the Hotel construction work while accommodating Tenant’s business operations in the Premises. In no event will Landlord be liable to Tenant for 

  
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any (i) loss, injury or damage to property, (ii) loss of income or other business loss, or (iii) other monetary damages (such as, but not limited to, diminution or abatement of
rent or other compensation) nor will this Lease or any of the obligations of Tenant be affected or reduced, as a result of any reasonable interference with occupancy due to Hotel construction (including closure of the Building) in accordance with
this Section 34.20.” 
 ii. Section 38.5 of the Lease is deleted in its entirety and replaced with “Intentionally
omitted”. 
  

	 	o.	 Contingency Deadline. Section 35.3 of the Lease is deleted in its entirety and
replaced with “Intentionally omitted”. 

  

	 	p.	 Landlord Improvements. 

 

	 	i.	 Section 38.3(C) of the Lease is deleted in its entirety and replaced with “Intentionally
omitted”. 

  

	 	ii.	 Section 38.3(E) of the Lease is deleted in its entirety and replaced with “Intentionally
omitted”. 

  

	 	iii.	 The following provision is added to the Lease as new Section 38.10: 

“38.10. As of the Occupancy Date, lunch for at least 800 people will be available in the Building during weekdays
(excluding National Holidays). If such lunch service is not open to the public as of the Occupancy Date, subject to extension due to damage by fire or other casualty, and/or Force Majeure, Tenant, as its sole and exclusive remedy, may avail itself
of the remedies set forth in Section 38.4 of the Lease.” 
  

	 	iv.	 The following provision is added to the Lease as new Section 38.11: 

“38.11. As of the date that is 9 months from the Occupancy Date, a licensed day care facility operating in accordance the
requirements of the State of New Jersey will be open to care for the needs of Tenant. If the day care facility is not open to the public as required pursuant to this Section 38.11, subject to extension due to damage by fire or other casualty,
and/or Force Majeure, Tenant, as its sole and exclusive remedy, may avail itself of the remedies set forth in Section 38.4 of the Lease.” 

  
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	 	q.	 Exhibits. 

 

	 	i.	 Concourse Level Floor Space. The depiction of the Concourse Level Floor Space shown on
Exhibit “A” of the Lease is deleted in its entirety and replaced with the depiction of the Concourse Level Floor Space that is attached as Exhibit
“A-l” to this Second Amendment and made a part hereof. 

  

	 	ii.	 Fixed Rent Schedule. The Fixed Rent Schedule attached to the First Amendment as
Schedule “A-1” is replaced with the Fixed Rent Schedule set forth on Schedule “A-2” attached to this Second
Amendment and made a part hereof. 

  

	 	iii.	 Base Building and Core Improvements Work. Landlord’s Base Building and Core
Improvements Work attached to the Lease as Exhibit “B-2” is amended as follows: 

  

	 	1)	 Premises. Item No. 1g) of Exhibit
“B-2” is deleted in its entirety and replaced with the following new Item 1g): “All sprinkler risers, valve connections and main sprinkler loop and branches shall remain.”

  

	 	2)	 Air Conditioning & Heating Design Standards for Workplace Floors. The first
paragraph of Item No. 10 of Exhibit “B-2” is deleted in its entirety and replaced with the following new paragraph: 

“For the Phase I and II portions of the building, new supply and return condenser water risers will be installed in two
new mechanical room stacks, one at the east end of the space and one at the west end. The mechanical rooms will be configured with condenser water heaters valved to serve up to 4 water-cooled VRF condenser units. New condensers, sized for one
condenser per column bay, will be installed, along with all associated power and controls. All refrigerant trunk lines, branch selector boxes, branch VRF line sets, horizontal concealed terminal units and downstream ductwork and registers will be
part of the tenant fit out cost. Also for the Phase I and II portions of the building, two pairs of new ventilation and exhaust air risers will be installed, one at the east end of the space and one at the west end, with dampered take-offs at each
floor. Constant volume boxes for ventilation air to the exterior perimeter corridors will also be provided. Branch ductwork from the floor take-off to each tenant space or VRF terminal unit will be part of the
tenant fit out cost. For the Phase III portions of the building, supply and return air risers for VAV systems to serve the space are existing. Any existing ductwork will be demolished back to the floor control damper. All new ductwork, VAV boxes,
registers, refrigerant lines, and grills will be part of the tenant fit out cost.” 

  
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	 	3)	 Air Conditioning & Heating Design Standards for Concourse Level Conference Floor.
The first paragraph of Item No. 11 of Exhibit “B-2” is deleted in its entirety and replaced with the following new paragraph: 

“For the Phase I and II portions of the building, new supply and return condenser water risers will be installed in two new mechanical
room stacks, one at the east end of the space and one at the west end. The mechanical rooms will be configured with condenser water heaters valved to serve up to 4 water-cooled VRF condenser units. New condensers, sized for one condenser per column
bay, will be installed, along with all associated power and controls. All refrigerant trunk lines, branch selector boxes, branch VRF line sets, horizontal concealed terminal units and downstream ductwork and registers will be part of the tenant fit
out cost. Also for the Phase I and II portions of the building, two pairs of new ventilation and exhaust air risers will be installed, one at the east end of the space and one at the west end, with dampered take-offs at each floor. Constant volume
boxes for ventilation air to the exterior perimeter corridors will also be provided. Branch ductwork from the floor take-off to each tenant space or VRF terminal unit will be part of the tenant fit out cost.
For the Phase III portions of the building, supply and return air risers for VAV systems to serve the space are existing. Any existing ductwork will be demolished back to the floor control damper. All new ductwork, VAV boxes, registers, refrigerant
lines, and grills will be part of the tenant fit out cost.” 
  

	 	iv.	 Tenant’s Tax Projections. Tenant’s Tax Projections attached to the First
Amendment as Exhibit “D-1” is replaced with Tenant’s Tax Projections set forth on Exhibit “D-2”
attached to this Second Amendment and made a part hereof. 

  

	 	3.	 	Invoices. The Parties acknowledge and agree that any architectural or engineering invoices received by Tenant as of the date of this Second Amendment which pertain to the Concourse Level Floor Space
and/or modifications to the construction documents for the Premises arising from discrepancies between the aforementioned construction documents and the Building plans provided by Landlord, will be paid solely by Tenant without contribution by
Landlord. 

  

	 	4.	 	No Defaults. The parties do hereby mutually agree and acknowledge that no default under, and no breach of any term and condition of the Lease has occurred or is continuing as of the date of this
Second Amendment. 

  
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	 	5.	 	No Other Amendments. The Lease includes this Second Amendment and all of the terms, covenants, and conditions set forth in the Lease will remain unmodified and in full force and effect. In the event
of any inconsistencies between the balance of the Lease and this Second Amendment, the terms of this Second Amendment will govern. 

  

	 	6.	 	Authority. 

  

	 	a.	 Tenant represents and warrants to Landlord that Tenant has the power and authority to enter into this Second
Amendment and modify the Lease as set forth herein and Tenant does not need to obtain the consent of any other third party with respect to the foregoing. 

  

	 	b.	 Landlord represents and warrants to Tenant that such party has the power and authority to enter into this
Second Amendment and modify the Lease as set forth herein and Landlord has obtained the consent of Landlord’s mortgagee with respect to the foregoing. 

  

	 	7.	 	Binding. This Second Amendment will be binding upon the parties hereto and their respective successors and assigns and may not be modified except by a writing signed by the parties who are then
Landlord and Tenant under the Lease. 

  

	 	8.	 	Counterparts. This Second Amendment may be executed in multiple counterparts, each of which will be an original and all of which together will constitute one and the same Second Amendment. It will
not be necessary that each party execute each counterpart, or that any one counterpart be executed by more than one party, so long as each party executes at least one counterpart. A facsimile or electronically transmitted copy of this Second
Amendment and any signatures hereon will be considered for all purposes as originals. 

 SIGNATURE PAGE FOLLOWS 

  
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 IN WITNESS WHEREOF Landlord and Tenant have caused this Second Amendment to Lease to
be executed the day and year first above written. 
  

							
	WITNESS:	 		 	 TENANT:
 ICIMS, INC., a New Jersey
corporation

				
	  
	 		 	By:	 	   /s/ Colin Day

		 		 	Name: Colin Day
		 		 	Title: CEO
			
	WITNESS:	 		 	 LANDLORD:
 SOMERSET HOLMDEL
DEVELOPMENT I URBAN RENEWAL, L.P., a New Jersey limited partnership

		 		 	By: Somerset Holmdel, LLC, its general partner
				
	  
	 		 	By:	 	   /s/ Raphael Zucker

		 		 	Name: Raphael Zucker
		 		 	Its: Managing Member

 EXHIBIT “A-1” 

PLAN OF PREMISES 

Concourse Level Floor Space 
  

 

 SCHEDULE “A-2” 

FIXED RENT SCHEDULE 
  

 

 

 

  
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 EXHIBIT “D-2” 

TENANT’S TAX PROJECTIONSEX-10.20

 Exhibit 10.20 

THIRD AMENDMENT OF LEASE 

THIS THIRD AMENDMENT OF LEASE (“Third Amendment”) made this 10th day of May, 2019, by Bell Works Master Tenant, LLC
(“Landlord”), successor in interest to Somerset Holmdel Development I Urban Renewal, L.P. (“Somerset”), and iCIMS, Inc., (“Tenant”). 

RECITALS 
  

	 	A.	 	Pursuant to a Lease Agreement dated July 8, 2016 between Landlord and Tenant, as amended by that certain First Amendment of Lease dated October 27, 2016 and that certain Second Amendment of Lease dated
September 15, 2017 (collectively, the “Lease”), Tenant leases the Premises (that is more particularly described in the Lease) from Landlord. 

 

	 	B.	 	Landlord succeeded to Somerset’s interest as landlord under the Lease pursuant to that certain Assignment and Assumption of Leases Agreement dated December 14, 2017, by and between Somerset and Landlord.

  

	 	C.	 	The Lease contemplated that an underground parking lot would be constructed under the Building. 

  

	 	D.	 	Landlord and Tenant agree that such underground parking lot will not be constructed, and in lieu of such construction Landlord will provide Tenant with certain other consideration subject to the terms and conditions set
forth in this Third Amendment. 

  

	 	E.	 	Landlord and Tenant now desire to amend and modify certain provisions of the Lease as more particularly set forth in this Third Amendment. 

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the sum of $10 and other good and valuable
consideration, the receipt and sufficiency of which are all hereby acknowledged by each of the parties, Landlord and Tenant agree as follows: 
  

	 	1.	 	Recitals; Definitions. The Recitals set forth above are true and correct and by this referenced are incorporated herein in their entirety. All capitalized terms contained in this Third Amendment
that are not otherwise defined herein will, for the purposes hereof, have the same meanings as are ascribed to them in the Lease. 

  

	 	2.	 	Lease Amendments. The Lease is hereby amended as follows: 

  

	 	a.	 Landlord’s Contribution. Section 20.3(1) is revised to provide that
Landlord’s Contribution will be equal to $14,188,130.00, allocated as follows: 

  

	 	i.	 The First Phase Contribution is $8,397,090.00 ($45.00 multiplied by 186,602 RSF); 

	 	ii.	 The Second Phase Contribution is $3,257,460.00 ($45.00 multiplied by 72,388 RSF); 

 

	 	iii.	 The Third Phase Contribution is $2,533,580.00 ($35.00 multiplied by 72,388 RSF). 

 

	 	b.	 Underground Parking. 

 

	 	i.	 Section 38.6 of the Lease is deleted. 

 

	 	ii.	 In the first sentence of Section 26.1 of the Lease, the following words are deleted: “provided,
however, at such time as the underground parking garage is completed, the aforementioned 70 exclusive parking spaces will be reduced to 50 exclusive parking spaces.” 

 

	 	iii.	 The second sentence of Section 26.2 is deleted. 

 

	 	iv.	 The first sentence of Section 26.4 is deleted and replaced with the following: At least 6 electric vehicle
charging stations will be provided in the parking area adjoining the Building. 

  

	 	v.	 Landlord shall provide car parking for no more than 3 Tenant-designated vehicles indoors within Bell Works or
via valet. 

  

	 	vi.	 Notwithstanding subsections i, ii, iii, iv or v above, if Landlord makes an underground parking garage
available to any tenant, then Tenant shall be entitled to all of the rights and benefits in and related to that underground parking garage as set forth in the Lease immediately prior to amendment by this Third Amendment, provided that such benefits
shall not be deemed to reduce or diminish any rights of Tenant with respect to other parking then in effect under the Lease. By way of example, the parties agree that if Landlord provides underground parking, then Tenant will be entitled to the
number of underground parking spaces provided for in Section 26.2 prior to amendment by this Third Amendment, but the number of other parking spaces reserved for exclusive use by Tenant shall not be reduced, notwithstanding Section 26.1.

  

	 	c.	 Entertainment Center. If Landlord makes an entertainment center available to any tenant,
then Tenant shall be entitled to the following benefits: Landlord will ensure such vendor provides Tenant and its employees and invitees with: (1) free access / no cover charge (exclusive of dates or events which are reserved for the exclusive
use of parties other than Tenant); and (2) the free, exclusive use of the entertainment center by Tenant up to 12 times per calendar year; provided that such exclusive use will occur not more frequently than 1 time per calendar month and will
only occur during non-peak days, as determined by Landlord or the 

  
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operator provided that the non-peak days shall include at least one weekday. Further, subject to any restrictions or limitations placed unilaterally by a
third party entertainment center vendor, Landlord will use good faith effort to ensure such vendor provides Tenant and its employees and invitees with a 10% discount on all food, beverages and games; provided that in the event of a dispute as to
whether the Landlord used good faith efforts, the maximum potential liability of Landlord, or remedy to Tenant, in such dispute is a monthly credit of $ 1,000 to be paid by Landlord and applied to Tenant (or at Tenant’s discretion, its
employees’ and invitees’) purchases of food, beverages, or games, said credit not to exceed 36 months. 

  

	 	3.	 No Defaults. The parties do hereby mutually agree and acknowledge that no default under,
and no breach of any term and condition of the Lease has occurred or is continuing as of the date of this Third Amendment. 

  

	 	4.	 No Other Amendments. The Lease includes this Third Amendment and all of the terms,
covenants, and conditions set forth in the Lease will remain unmodified and in full force and effect. In the event of any inconsistencies between the balance of the Lease and this Third Amendment, the terms of this Third Amendment will govern.

  

	 	5.	 Authority. 

 

	 	a.	 Tenant represents and warrants to Landlord that Tenant has the power and authority to enter into this Third
Amendment and modify the Lease as set forth herein and Tenant does not need to obtain the consent of any other third party with respect to the foregoing. 

  

	 	b.	 Landlord represents and warrants to Tenant that such party has the power and authority to enter into this Third
Amendment and modify the Lease as set forth herein and Landlord has obtained the consent of Landlord’s mortgagee with respect to the foregoing. 

  

	 	6.	 Binding. This Third Amendment will be binding upon the parties hereto and their respective
successors and assigns and may not be modified except by a writing signed by the parties who are then Landlord and Tenant under the Lease. 

  

	 	7.	 Counterparts. This Third Amendment may be executed in multiple counterparts, each of which
will be an original and all of which together will constitute one and the same Third Amendment. It will not be necessary that each party execute each counterpart, or that any one counterpart be executed by more than one party, so long as each party
executes at least one counterpart. A facsimile or electronically transmitted copy of this Third Amendment and any signatures hereon will be considered for all purposes as originals. 

SIGNATURE PAGE FOLLOWS 

  
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 IN WITNESS WHEREOF Landlord and Tenant have caused this Third Amendment to Lease to be executed the
day and year first above written. 
  

							
	WITNESS	 		 	 TENANT:
 iCIMS, Inc., a New Jersey
corporation

	 /s/ Alicia Lawson 
	 		 	By:	 	 /s/ Ronald Kasner

		 		 	Name: Ronald Kasner
		 		 	Title: President
			
	WITNESS	 		 	 LANDLORD:
 BELL WORKS MASTER TENANT,
LLC

	 /s/ Helene L. Josovitz
	 		 	By:	 	 /s/ Raphael Zucker

	Helene L. Josovitz	 		 	Name: Raphael Zucker
		 		 	Title: Managing Member

  
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