Document:

Subsidiary Guaranty

 Exhibit 10-EEE(3) 
  
 PLEDGE AGREEMENT 
  
 PLEDGE AGREEMENT, dated as of July 21, 2005 (as amended, modified, or supplemented from time to time, “this Agreement”),
made by (i) each of the undersigned (each, together with its successors and assigns, a “Pledgor” and collectively, the “Pledgors”), in favor of (ii) NATIONAL CITY BANK OF THE MIDWEST, a national
banking association, as Collateral Agent (herein, together with its successors and assigns in such capacity, the “Collateral Agent”), for the benefit of the Secured Creditors (as defined below): 
  
 PRELIMINARY STATEMENTS: 
  
 (1) Except as otherwise defined herein, terms used herein and defined in the
Credit Agreement (as defined below) shall be used herein as therein defined. Certain terms are defined in section 1 hereof. 
  
 (2) This Agreement is made pursuant to the Revolving Credit Agreement, dated as of the date hereof (herein, as amended or otherwise modified, restated or
replaced from time to time, the “Credit Agreement”), among MEMC Electronic Materials, Inc., a Delaware corporation (herein, together with its successors and assigns, the “Borrower”, the
“Company” or a “Pledgor”), the financial institutions named as lenders therein (herein, together with any other person that becomes a “Lender” under the Credit Agreement and the respective
successors and assigns of such lenders and “Lenders”, the “Lenders”), National City Bank of the Midwest, as a Lender, the Swing Line Lender, the Issuing Bank, the Administrative Agent, the Collateral Agent, book
running manager and Lead Arranger, and U.S. Bank, National Association, as a Lender and the syndication agent. 
  
 (3) The Credit Agreement provides, among other things, for loans or advances or other extensions of credit to or for the benefit of the Borrower of up to
$200,000,000, with such loans or advances being evidenced by the Notes. The Credit Agreement also provides that one or more Issuing Banks may issue Letters of Credit for the benefit of the Borrower and/or any of its Subsidiaries, and that the
Lenders will risk participate in such Letters of Credit. 
  
 (4)
The Company or any of its Subsidiaries may from time to time be party to one or more Designated Hedge Agreements (as defined in the Credit Agreement) and other Designated Hedge Documents (as defined herein). Any institution or other person that
participates, and in each case their successors and assigns, as a counterparty to the Company or any of its Subsidiaries pursuant to any Designated Hedge Document is referred to herein individually as a “Designated Hedge
Creditor” and collectively as the “Designated Hedge Creditors”. 
  
 (5) This Agreement is made for the benefit of the Administrative Agent, the Collateral Agent, each Issuing Bank, the Lenders and the Designated Hedge
Creditors (any or all of the foregoing, together with their respective successors and assigns, individually a “Secured Creditor” and collectively, the “Secured Creditors”). 
  
 (6) Pursuant to the Subsidiary Guaranty, each Subsidiary Guarantor has
jointly and severally guaranteed to the Secured Creditors the payment when due of the Guaranteed Obligations (as defined in the Subsidiary Guaranty). The Subsidiary Guaranty and this Agreement are each a Credit Document. 
  
 (7) It is a condition precedent to the making of Loans and the issuance of,
and participation in, Letters of Credit under the Credit Agreement that each Pledgor shall have executed and delivered to the Collateral Agent this Agreement. 
  

(8) Each Pledgor will obtain benefits from the incurrence of the Credit Document Obligations and the Designated Hedge Document Obligations (as such
terms are hereafter defined) and, accordingly, desires to execute this Agreement in order to satisfy the condition described in the preceding paragraph and to induce the Secured Creditors to extend the Credit Document Obligations and the Designated
Hedge Document Obligations. 
  
 NOW, THEREFORE, in
consideration of the benefit accruing to each Pledgor, the receipt and sufficiency of which are hereby acknowledged, each Pledgor hereby makes the following representations and 

 
warranties to the Collateral Agent and the other Secured Creditors and hereby covenants and agrees with the Collateral Agent and the other Secured Creditors
as follows: 
  

	 	1.	DEFINITIONS AND TERMS. 

  
 1.1 Defined Terms. Except as otherwise defined herein, terms used herein and defined in the Credit Agreement shall be used herein as therein
defined. The following terms shall have the meanings herein specified unless the context otherwise requires: 
  
 “Agreement” shall mean this Pledge Agreement as the same may be modified, supplemented or amended from time to time in accordance
with its terms. 
  
 “Borrower” shall have
the meaning provided in the Preliminary Statements of this Agreement. 
  
 “Class” shall have the meaning provided in section 10.3. 
  
 “Collateral” shall have the meaning provided in section 2.1. 
  
 “Collateral Agent” shall have the meaning specified in the first paragraph of this Agreement. 
  
 “Company” shall have the meaning provided in the
Preliminary Statements of this Agreement. 
  
 “Credit
Agreement” shall have the meaning provided in the Preliminary Statements of this Agreement. 
  
 “Credit Document Obligations” shall mean and include: 
  
 (i) the principal of and interest on the Notes issued by, and the Loans made to, the Borrower under the
Credit Agreement, 
  
 (ii) all reimbursement
obligations and Unpaid Drawings with respect to Letters of Credit issued under the Credit Agreement, and 
  
 (iii) all other obligations and liabilities owing by the Borrower and the other Credit Parties to the Administrative Agent, the Collateral
Agent, any Issuing Bank or any of the Lenders under the Credit Agreement and the other Credit Documents to which the Borrower or any other Credit Party is now or may hereafter become a party (including, without limitation, indemnities, Fees and
other amounts payable thereunder), whether primary, secondary, direct, contingent, fixed or otherwise, 
  
 in all cases whether now existing, or hereafter incurred or arising, including any such interest or other amounts incurred or arising during the pendency of any bankruptcy, insolvency, reorganization, receivership or
similar proceeding, regardless of whether allowed or allowable in such proceeding or subject to an automatic stay under section 362(a) of the Bankruptcy Code. 
  

“Designated Hedge Creditors” shall have the meaning provided in the Preliminary Statements of this Agreement. 
  
 “Designated Hedge Document” shall mean and include
(i) each Designated Hedge Agreement to which the Company or any of its Subsidiaries is now or may hereafter become a party, and (ii) each confirmation, transaction statement or other document executed and delivered in connection therewith to which
the Company or any of its Subsidiaries is now or may hereafter become a party. 
  
 “Designated Hedge Document Obligations” shall mean and include all obligations and liabilities owing by the Company or any of its Subsidiaries under all existing and future Designated Hedge
Documents, in all cases whether now existing, or hereafter incurred or arising, including any such amounts incurred or arising during the 

 
pendency of any bankruptcy, insolvency, reorganization, receivership or similar proceeding, regardless of whether allowed or allowable in such proceeding or
subject to an automatic stay under section 362(a) of the Bankruptcy Code. 
  
 “Equity Interests” shall mean (i) all of the partnership interests in a general or limited partnership at any time owned or held by any Pledgor, (ii) all of the membership interests in a
limited liability company at any time owned or held by any Pledgor, and (iii) all of the equity interests (other than Stock) in any other form of organization at any time owned or held by any Pledgor. 
  
 “Event of Default” shall mean any Event of Default
under, and as defined in, the Credit Agreement, or any payment default, after any applicable grace period, by the Company or any of its Subsidiaries under any Designated Hedge Document. 
  
 “Governing Documents” shall have the meaning provided in section 3.2. 
  
 “Indemnitee” shall have the meaning provided in
section 9.1. 
  
 “Indemnifiable Claims and
Amounts” shall have the meaning provided in section 9.1. 
  
 “Issuer” shall mean the issuer of any Stock or Equity Interests. 
  
 “Lenders” shall have the meaning provided in the Preliminary Statements of this Agreement. 
  
 “Pledged Entity” shall mean the Issuer of any Pledged
Equity Interests. 
  
 “Pledged Equity
Interests” shall have the meaning provided in section 2.1(b). 
  
 “Pledged Stock” shall have the meaning provided in section 2.1(a). 
  
 “Pledgors” shall have the meaning specified in the first paragraph of this Agreement. 
  
 “Requisite Creditors” shall have the meaning provided
in section 10.3. 
  
 “Secured Creditors”
shall have the meaning provided in the Preliminary Statements of this Agreement. 
  
 “Secured Obligations” shall mean and include 
  
 (i) in the case of the Company as one of the Pledgors, (A) its primary obligations in respect of all Credit Document Obligations as to
which it is a primary obligor; (B) its surety obligations as a guarantor in respect of all Credit Document Obligations as to which any of its Subsidiaries or Affiliates is a primary obligor; (C) its primary obligations in respect of all Designated
Hedge Document Obligations as to which it is a primary obligor; and (D) its surety obligations as a guarantor in respect of all Designated Hedge Document Obligation as to which any of its Subsidiaries or Affiliates is a primary obligor; 

 
 (ii) in the case of any Subsidiary Guarantor as one of
the Pledgors, (A) its primary obligations in respect of all Credit Document Obligations as to which it is a primary obligor; (B) its surety obligations as a Subsidiary Guarantor under the Subsidiary Guaranty; and (C) its primary obligations in
respect of all Designated Hedge Document Obligations as to which it is a primary obligor; 
  
 (iii) in the case of any Pledgor, any and all sums advanced by the Collateral Agent in compliance with the provisions of this Agreement or
any of the other Credit Documents in order to preserve the Collateral of such Pledgor or to preserve or protect its Security Interest in such 

 
Collateral, including, without limitation, sums advanced to pay or discharge insurance premiums, taxes, Liens and claims; and 
  
 (iv) in the case of any Pledgor, in the event of any
proceeding for the collection or enforcement of any indebtedness, obligations, or liabilities of such Pledgor referred to in clauses (i), (ii) and (iii) above, after an Event of Default shall have occurred and be continuing, the reasonable expenses
of re-taking, holding, preparing for sale or lease, selling or otherwise disposing of or realizing on the Collateral of such Pledgor, or of any exercise by the Collateral Agent of its rights hereunder in respect of such Pledgor or its Collateral,
together with reasonable attorneys’ fees and court costs. 
  
 “Security Interest” shall mean the security interest granted by a Pledgor and/or by all Pledgors, as applicable, pursuant to section 2.1 hereof. 
  
 “Stock” shall mean all of the issued and outstanding shares of stock of any corporation at any time
directly owned by any Pledgor. 
  
 “UCC”
shall mean the Uniform Commercial Code, as at any time adopted and in effect in any jurisdiction, specifically including and taking into account all amendments, supplements, revisions and other modifications of the Uniform Commercial Code which
hereafter are adopted or otherwise take effect. 
  
 1.2 Terms
Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words
“include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word
“shall”. Unless the context requires otherwise, (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time
amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any person shall be construed to include such person’s successors and
assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, and (d) unless otherwise
specified, all references herein to sections, Annexes and Exhibits shall be construed to refer to sections of, and Annexes and Exhibits to, this Agreement. 
  

	 	2.	SECURITY INTERESTS, ETC. 

  
 2.1 Pledge and Grant of Security Interest. As security for the prompt and complete payment and performance when due of the Secured Obligations,
each Pledgor hereby pledges and grants to the Collateral Agent, for the benefit of the Secured Creditors, a continuing security interest of first priority in, and as part of such grant and pledge, hereby transfers and assigns to the Collateral Agent
all of the following whether now existing or hereafter acquired (collectively, the “Collateral”): 
  
 (a) Presently Owned and After Acquired Stock: the Stock and the certificates representing the Stock, if any, indicated in Annex A
hereto as being presently owned by such Pledgor, and all additional Stock hereafter from time to time acquired by such Pledgor in any manner, together with all dividends, cash, instruments and other property hereafter from time to time received,
receivable or otherwise distributed in respect of or in exchange for any or all of the foregoing (all of the Stock referred to in this clause (a), collectively, the “Pledged Stock”); 
  
 (b) Presently Owned and After Acquired Equity
Interests: the Equity Interests, if any, indicated in Annex B hereto as being presently owned by such Pledgor, and all additional Equity Interests hereafter from time to time acquired by such Pledgor in any manner (all of the Equity Interests
referred to in this clause (b), collectively, the “Pledged Equity Interests”), and all of such Pledgor’s other rights, title and interests in, or in any way related to, each Pledged Entity to which any of such Equity
Interests relate, including, without limitation: 
  
 (i) all interests in the capital of any Pledged Entity and in all profits, losses and other distributions to which such Pledgor shall at any time be entitled in respect of any such Equity Interest; 

 (ii) all other payments due or to become due to such Pledgor in respect of any such
Equity Interest, whether under any partnership agreement, limited liability company agreement, other agreement or otherwise, whether as contractual obligations, damages, insurance proceeds or otherwise; 
  
 (iii) all of its claims, rights, powers, privileges,
authority, puts, calls, options, security interests, Liens and remedies, if any, under any partnership agreement, limited liability company agreement, other agreement or at law or otherwise in respect of any such Equity Interest; 
  
 (iv) all of such Pledgor’s rights under any partnership
agreement, limited liability company agreement, other agreement or at law to exercise and enforce every right, power, remedy, authority, option and privilege of such Pledgor relating to any such Equity Interest including any power to (1) terminate,
cancel or modify any partnership agreement, limited liability company agreement or other agreement, (2) execute any instruments and to take any and all other action on behalf of and in the name of such Pledgor in respect of any such Equity Interest
and any such Pledged Entity, (3) exercise voting rights or make determinations, (4) exercise any election (including, but not limited to, election of remedies), (5) exercise any “put”, right of first offer or first refusal, or other
option, (6) exercise any right of redemption or repurchase, (7) give or receive any notice, consent, amendment, waiver or approval, (8) demand, receive, enforce, collect or receipt for any of the foregoing, (9) enforce or execute any checks, or
other instruments or orders, (10) file any claims and to take any action in connection with any of the foregoing, and/or (11) otherwise act as if the Collateral Agent were the absolute owner of such Equity Interests and all rights associated
therewith; 
  
 (v) all other property hereafter
delivered in substitution for or in addition to any of the foregoing; 
  
 (vi) all certificates and instruments representing or evidencing any of the foregoing; and 
  
 (vii) all cash, securities, interest, distributions, dividends, rights and other property at any time and from time to time received,
receivable or otherwise distributed in respect of or in exchange for any or all thereof; and 
  
 (c) Proceeds: all proceeds of any and all of the foregoing (regardless of whether such proceeds constitute property of the types
described above); 
  
 TO HAVE AND HOLD unto and be
dealt with by the Collateral Agent, for the benefit of the Secured Creditors, subject, however, to the terms and conditions set forth in this Agreement; 
  
 PROVIDED, HOWEVER, that there is specifically excluded from the Security Interest, and the term Collateral shall not include: 
  
 (1) unless subsequently required to be subjected to the
Security Interest hereof as contemplated by section 8.11(b) and section 8.12 of the Credit Agreement: 
  
 (A) any Stock or Equity Interest in any Foreign Subsidiary that is not a first tier Subsidiary of the Borrower, including without
limitation, any of the Stock or Equity Interest in MEMC Korea Company and MEMC Kulim Electronic Materials, Sdn. Bhd., but only so long as, in the case of each of the foregoing, such Foreign Subsidiary is not a first tier Subsidiary of the Borrower;

 (B) any Stock or Equity Interest in a Foreign Subsidiary to the extent the same
represents, for all Pledgors in the aggregate, more than 65% of the total combined voting power of all classes of capital stock or similar equity interests of such Foreign Subsidiary which are entitled to vote; or 
  
 (C) any Stock or Equity Interest in any first tier Foreign
Subsidiaries which alone or when combined or consolidated with each other would not constitute a Material Subsidiary; or 
  
 (D) any Stock or Equity Interests in any Domestic Subsidiary that is a Non-Material Subsidiary; or 
  
 (2) any Equity Interests in any Issuer which is not a
Subsidiary of a Pledgor, if the terms of the organizational documents of such Issuer do not permit the grant of a security interest in such Equity Interests by the owner thereof and the applicable Pledgor has been unable after using its best efforts
to obtain any approval or consent to the creation of a security interest therein which is required under such organizational documents. 
  
 2.2 Delivery of Certificates for Pledged Stock and Pledged Equity Interests, etc. (a) On or prior to the Closing Date under the Credit Agreement,
each Pledgor will pledge and deposit with the Collateral Agent all certificates, if any, representing any Pledged Stock or Pledged Equity Interests at the time owned by such Pledgor and subject to the Security Interest hereof and accompanied by
undated stock powers duly executed in blank by such Pledgor or such other instruments of transfer as are acceptable to the Collateral Agent. 
  
 (b) If a Pledgor shall acquire (by purchase, conversion, exchange, stock dividend or otherwise) any additional Stock and/or Equity Interests, at any time
or from time to time after the date hereof which is or are intended to be subjected to the Security Interest hereof and which is or are represented by certificates, such Pledgor will (i) forthwith pledge and deposit with the Collateral Agent all
such certificates and accompanied by undated stock powers duly executed in blank by such Pledgor or such other instruments of transfer as are acceptable to the Collateral Agent, and (ii) promptly thereafter deliver to the Collateral Agent a
certificate executed by a responsible officer of such Pledgor describing such Stock and/or Equity Interests and certifying that the same have been duly pledged with the Collateral Agent hereunder. 
  
 2.3 Perfection under the UCC of Security Interest in Uncertificated
Securities and Securities Held in a Securities Account. Without limitation of any other provision of this Agreement, if any of the Stock and/or Equity Interests of a Pledgor (whether or not now owned or hereafter acquired) which are intended to
be subjected to the Security Interest hereof is an “uncertificated security”, as such term is defined in section 8-102 of the UCC, or is held in a “securities account”, as such term is defined in section 8-501 of the UCC, such
Pledgor shall promptly notify the Collateral Agent thereof, and shall promptly take all actions as directed by the Collateral Agent which are required to be taken in order to perfect the Security Interest of the Collateral Agent therein under the
UCC of any applicable jurisdiction. Each Pledgor further agrees to take such actions as the Collateral Agent deems necessary or desirable to effect the foregoing and to permit the Collateral Agent to exercise any of its rights and remedies hereunder
in respect thereof, and agrees to provide an opinion of counsel satisfactory to the Collateral Agent with respect to any such pledge of uncertificated securities, or any securities held in a securities account, promptly upon the request of the
Collateral Agent. 
  
 2.4 Perfection under Foreign Law of
Security Interest in Uncertificated Stock and Equity Interests of Foreign Subsidiary Issuers. Without limitation of any other provision of this Agreement, if any of the Stock and/or Equity Interests of a Pledgor (whether or not now owned or
hereafter acquired) which are intended to be subjected to the Security Interest hereof are issued by an Issuer which is a Foreign Subsidiary and constitute an “uncertificated security” as such term is defined in section 8-102 of the UCC,
such Pledgor shall, if requested by the Collateral Agent, promptly execute and deliver to the Collateral Agent a separate pledge agreement or other pledge document covering such Stock or Equity Interests, conforming to the requirements of the law of
the jurisdiction in which the Foreign Subsidiary is organized and satisfactory in form and substance to the Collateral Agent, and, if requested by the Collateral Agent, an opinion of local counsel as to the perfection of the security interest
provided for therein, whereupon the collateral covered thereby shall be deemed released from this Agreement (and covered by such separate pledge agreement or other pledge document) and no shall longer be considered Collateral hereunder. 

 
Each Pledgor further agrees to take such actions as the Collateral Agent deems necessary or desirable to effect the foregoing and to permit the Collateral
Agent to exercise any of its rights and remedies hereunder in respect thereof or under such separate pledge agreement or other pledge document. 
  
 2.5 No Assumption of Liability, etc. (a) The Security Interest of any Pledgor is granted as security only and shall not subject the Collateral
Agent or any other Secured Creditor to, or in any way alter or modify, any obligation or liability of such Pledgor with respect to or arising out of any of the Collateral. 
  
 (b) Nothing herein shall be construed to make the Collateral Agent liable as a general partner or limited partner of any
Pledged Entity or a shareholder of any corporation, and the Collateral Agent by virtue of this Agreement or any actions taken as contemplated hereby (except as referred to in the following sentence) shall not have any of the duties, obligations or
liabilities of a general partner or limited partner of any Pledged Entity or a stockholder of any corporation. The parties hereto expressly agree that, unless the Collateral Agent shall become the absolute owner of an Equity Interest pursuant
hereto, this Agreement shall not be construed as creating a partnership or joint venture among the Collateral Agent and/or a Pledgor or any other person. 
  
 (c) Except as provided in the last sentence of section 2.5(b), the Collateral Agent, by accepting this Agreement, did not intend to become a general
partner, limited partner or member of any Pledged Entity or a shareholder of any corporation or otherwise be deemed to be a co-venturer with respect to any Pledgor or any Pledged Entity or a shareholder of any corporation either before or after an
Event of Default shall have occurred. The Collateral Agent shall have only those powers set forth herein and shall assume none of the duties, obligations or liabilities of a general partner or limited partner of any Pledged Entity or of a Pledgor.

  
 2.6 Registration of Collateral in the Name of the
Collateral Agent, etc. The Collateral Agent shall have the right, at any time during the existence of an Event of Default, in its discretion and without notice to any Pledgor, to transfer to or to register in the name of the Collateral Agent or
any of its nominees any or all of the Collateral, subject only to the revocable voting and similar rights specified in section 5. In addition, the Collateral Agent shall have the right at any time during the existence of an Event of Default to
exchange certificates or instruments representing or evidencing Collateral for certificates or instruments of smaller or larger denominations. 
  
 2.7 Appointment of Sub-agents; Endorsements, etc. The Collateral Agent shall have the right to appoint one or more sub-agents for the purpose of
retaining physical possession of the instruments and certificates evidencing any of the Collateral, which may be held (in the discretion of the Collateral Agent) in the name of the relevant Pledgor, endorsed or assigned in blank or in favor of the
Collateral Agent or any nominee or nominees of the Collateral Agent or a sub-agent appointed by the Collateral Agent. 
  

	 	3.	REPRESENTATIONS AND WARRANTIES. 

  
 Each Pledgor represents and warrants to the Collateral Agent and the other Secured Creditors, which representations and warranties shall survive execution
and delivery of this Agreement, as follows: 
  
 3.1 Initial
Collateral Comprehensive. At and as of the date hereof, Annexes A and B hereto accurately and completely set forth the only Stock and Equity Interests owned by such Pledgor and required to be subjected to the Security Interest hereof.

  
 3.2 Authority to Pledge; Governing Documents. Such
Pledgor has full power, authority and legal right to pledge all of its Pledged Stock and Pledged Equity Interests. Prior to the effectiveness of the pledge by such Pledgor of any Pledged Stock or Pledged Equity Interests, such Pledgor has delivered
to the Collateral Agent true, correct and complete copies of all agreements evidencing or relating to its investment in, or ownership, voting or disposition of, such Pledged Stock and Pledged Equity Interests, or any future investment or other
obligations with respect thereto (collectively, “Governing Documents”). 
  
 3.3 Title to Collateral. Such Pledgor is the legal, beneficial and record owner of, and has good and marketable title to, all of its Collateral,
subject to no pledge, Lien, mortgage, hypothecation, security interest, charge, option, voting agreement or limitation, pledge or transfer limitation or other encumbrance of any kind or 

 
nature whatsoever, except for (i) the Security Interest created by this Agreement, (ii) Liens specified in clauses (i) and (iv) of the
definition of Standard Permitted Liens and (iii) any voting, option, put, call, first refusal, first offer, pledge or transfer limitation or similar provision which may be contained in the applicable Governing Documents. There is no financing
statement (or similar statement or instrument of registration under the law of any jurisdiction) covering or purporting to cover any interest of any kind of such Pledgor in the Collateral, except for financing statements, continuation
statements and other documents and registrations filed to perfect or continue the perfection of the Security Interest. 
  
 3.4 Status of Collateral. (a) All of the shares of the Pledged Stock of such Pledgor hereunder have been duly and validly issued and are fully paid
and nonassessable. 
  
 (b) All of the Pledged Equity Interests of
such Pledgor have been duly and validly issued and are fully paid and nonassessable, to the extent such concepts are applicable. Such Pledgor is not in default in the payment of any portion of any mandatory capital contribution, cash call, or other
funding, if any, required to be made under any Governing Document relating to any of the Pledged Equity Interests of such Pledgor, and such Pledgor is not in violation of any other material provisions of any such Governing Document, or otherwise in
default or violation thereunder. No Pledged Equity Interest of such Pledgor is subject to any defense, offset or counterclaim, nor have any of the foregoing been asserted or alleged against such Pledgor by any person. 
  
 3.5 Validity of Security Interest. The Security Interest of such
Pledgor constitutes a legal and valid security interest in all of the Collateral of such Pledgor, securing the payment and performance of the Secured Obligations. 
  
 3.6 Perfection of Security Interest under UCC. All notifications and other actions, including, without limitation,
(1) all deposits of certificates evidencing any Collateral (duly endorsed or accompanied by appropriate instruments of transfer), (2) all notices to and acknowledgments of any bailee or other person, (3) all acknowledgments and agreements respecting
the right of the Collateral Agent to “control” any Collateral, as such term is now or hereafter defined in the UCC, and (4) except as permitted under section 2.4, all filings, registrations and recordings, which are necessary or
appropriate to create, preserve, protect and perfect the Security Interest granted by such Pledgor to the Collateral Agent hereby in respect of its portion of the Collateral have been given, made, obtained, done and accomplished, and the Security
Interest granted by such Pledgor to the Collateral Agent pursuant to this Agreement in and to its portion of the Collateral is perfected, to the extent a security interest in such Pledgor’s portion of the Collateral can be perfected under the
UCC of any applicable jurisdiction. 
  

	 	4.	GENERAL COVENANTS. 

  
 4.1 No Other Liens; Defense of Title, etc. (a) No Pledgor will make or grant, or suffer or permit to exist, any Lien on any of its Collateral,
except for (i) the Security Interest created by this Agreement, and (ii) any voting, option, put, call, first refusal, first offer, pledge or transfer limitation or similar provision which may be contained in the applicable Governing
Documents. 
  
 (b) Each Pledgor, at its sole cost and expense,
will take any and all actions necessary to defend title to its Collateral against any and all persons and to defend the validity, perfection, effectiveness and priority of the Security Interest of the Collateral Agent therein against any Lien not
permitted under section 4.1(a) above. 
  
 4.2 Further
Assurances; Filings and Recordings, etc. (a) Each Pledgor, at its sole cost and expense, will duly execute, acknowledge and deliver all such agreements, instruments and other documents and take all such actions (including, without limitation,
obtaining from other persons lien waivers, agreements evidencing the exclusive control and dominion of the Collateral Agent over any Collateral, and other agreements, instruments and documents), as the Collateral Agent may from time to time
reasonably request in order to better assure, preserve, protect and perfect the Security Interest of the Collateral Agent in the Collateral of such Pledgor, and the rights and remedies of the Collateral Agent hereunder, or otherwise to further
effectuate the intent and purposes of this Agreement and to carry out the terms hereof. 

 (b) Each Pledgor, at its sole cost and expense, will (i) at all times cause this Agreement (and/or proper
notices, financing or other statements in respect hereof, and supplemental collateral assignments or collateral security agreements in respect of any portion of the Collateral) to be duly filed, recorded, registered and published, and re-filed,
re-recorded, re-registered and re-published in such manner and in such places as may be required under the UCC or other applicable law in order to establish, perfect, preserve and protect the rights, remedies and Security Interest of the Collateral
Agent in or with respect to the Collateral of such Pledgor, and (ii) pay all taxes, fees and charges and comply with all statutes and regulations, applicable to such filing, recording, registration and publishing and such re-filing, re-recording,
re-registration and re-publishing. Each Pledgor irrevocably authorizes the Collateral Agent to file any financing statements with respect to the Collateral of such Pledgor without the signature of such Pledgor where the Collateral Agent is permitted
by applicable law to do so. 
  
 4.3 Continuing Obligations of
the Pledgors in Respect of the Collateral. Each Pledgor shall remain liable to, and shall duly pay, observe, perform and satisfy all of the obligations, terms, covenants, provisions and conditions to be paid, observed, performed and satisfied by
it under each contract, agreement and instrument relating to its Collateral, all in accordance with the terms, covenants, provisions and conditions thereof. 
  
 4.4 No Disposition of the Collateral. No Pledgor may sell, assign or otherwise dispose of any of its Collateral, except in compliance
with the applicable requirements of the Credit Agreement. 
  
 4.5 Modification of, and Notices under, Governing Documents, etc. (a) No Pledgor will enter into any modification of the terms or provisions of any of the Governing Documents relating to any of its Collateral, other
than modifications made in the ordinary course of business when no Event of Default is in existence which (i) do not increase the monetary obligations of such Pledgor under such Governing Documents, and (ii) otherwise are not materially adverse to
the interests of the Secured Creditors as creditors of such Pledgor. 
  
 (b) Each Pledgor shall promptly furnish the Collateral Agent with copies of any written claim or other demand, notice or document received by it in connection with any such Governing Document which may have a material adverse effect on the
value of such Collateral. 
  
 (c) No Pledgor shall withdraw as a
partner or member of any Pledged Entity, or file or pursue or take any action which may, directly or indirectly, cause a dissolution or liquidation of or with respect to any Pledged Entity or seek a partition of any property of any Pledged Entity,
except as permitted by the Credit Agreement. 
  
 4.6 Inspections and Verification. The Collateral Agent and such persons as the Collateral Agent may reasonably designate shall have the right, at any Pledgor’s own cost and expense, to inspect the Collateral of such Pledgor, all
books and records related thereto (and to make extracts and copies thereof), to discuss such Pledgor’s affairs with the officers of such Pledgor and its independent accountants, and to verify under reasonable procedures the validity, amount,
quality, quantity, value, condition and status of, or any other matter relating to, such Collateral, including, contacting the Issuers of such Collateral (after, if no Default then exists, not less than two days’ prior notice to the applicable
Pledgor) for the purpose of making such verification. The Collateral Agent shall have the absolute right to share any information it gains from any such inspection or verification or from collateral reports furnished to it by a Pledgor with the
other Secured Creditors (it being understood that any such information shall be subject to the confidentiality provisions of the Credit Agreement). 
  
 4.7 Payment of Taxes and Claims. Each Pledgor will pay and discharge all taxes, assessments and governmental charges or levies imposed upon it or
upon its income or profits, or upon any Collateral or other properties belonging to it, prior to the date on which penalties attach thereto, and all lawful claims which, if unpaid, might become a Lien or charge upon any of its Collateral or any
other properties belonging to it; provided that no Pledgor shall be required to pay any such tax, assessment, charge, levy or claim which is being contested in good faith and by proper proceedings if it has maintained adequate reserves with
respect thereto in accordance with GAAP; and provided, further, that a Pledgor will not be considered to be in default of any of the provisions of this section 4.7 if such Pledgor fails to pay any such amount which, individually or in
the aggregate, is immaterial. 
  
 4.8 Protective Advances by
the Collateral Agent. At its option, but without being obligated to do so, the Collateral Agent may, upon prior notice to any applicable Pledgor, (i) pay and discharge past due taxes, assessments and governmental charges, at any time levied on
or with respect to any of the Collateral of such Pledgor 

 
which such Pledgor has failed to pay and discharge in accordance with the requirements of this Agreement or any of the other Credit Documents, (ii) pay and
discharge any claims of other creditors of such Pledgor, including any such claims which are secured by any Lien on any Collateral which is not permitted under section 4.1(a) hereof, and each Pledgor agrees to reimburse the Collateral Agent, on
demand, for all payments and expenses incurred by the Collateral Agent with respect to such Pledgor or any of its Collateral pursuant to the foregoing authorization, provided, however, that nothing in this section shall be construed as
excusing any Pledgor from the performance of, or imposing any obligation on the Collateral Agent or any other Secured Creditor to cure or perform, any covenants or other agreements of any Pledgor with respect to any of the foregoing matters as set
forth herein or in any of the other Credit Documents. 
  

	 	5.	VOTING, ETC. WHILE NO EVENT OF DEFAULT. 

  
 Unless and until an Event of Default shall have occurred and be continuing, each Pledgor shall be entitled to exercise all voting rights attaching to any
and all Collateral owned by it, and to give consents, waivers or ratifications in respect thereof, provided that no vote shall be cast or any consent, waiver or ratification given or any action taken which would violate, result in
breach of any covenant contained in or be inconsistent with, any of the terms of this Agreement, any other Credit Document or any Designated Hedge Document, or which would have the effect of impairing the position or interests of the Collateral
Agent or any Secured Creditor therein. All such rights of such Pledgor to vote and to give consents, waivers and ratifications shall cease in case an Event of Default shall occur and be continuing. 
  

	 	6.	DIVIDENDS AND OTHER DISTRIBUTIONS. 

  
 6.1 Entitlement of Pledgors to Cash Dividends and Distributions. A Pledgor shall be entitled to receive all cash dividends or distributions payable
in respect of its Collateral, except as otherwise provided in section 6.2. 
  
 6.2 Entitlement of Collateral Agent to Dividends and Distributions. The Collateral Agent shall be entitled to receive, and to retain as part of the Collateral: 
  
 (a) all cash dividends and distributions payable in respect
of the Collateral at any time when an Event of Default shall have occurred and be continuing; and 
  
 (b) regardless of whether or not an Event of Default shall have occurred and be continuing at the time of payment or distribution thereof:

  
 (i) all cash dividends and distributions in
respect of the Collateral which are reasonably determined by the Collateral Agent to represent in whole or in part an extraordinary, liquidating or other distribution in return of capital; 
  
 (ii) all other or additional stock, other securities,
partnership interests, membership interests or property (other than cash to which a Pledgor is entitled under section 6.1) paid or distributed by way of dividend or otherwise in respect of the Collateral; 
  
 (iii) all other or additional stock, other securities,
partnership interests, membership interests or property (including cash) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and 
  
 (iv) all other or additional stock, other securities,
partnership interests, membership interests or property (including cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate, partnership or
limited liability company reorganization. 
  
 6.3 Application
of Dividends and Distributions. If no Event of Default shall have occurred and be continuing at such time, the Collateral Agent will, at the request of the Company (on behalf of any applicable 

 
Pledgor or Pledgors), pay over to the Administrative Agent, for application to the payment or prepayment of any of the Credit Document Obligations, any cash
held by it as Collateral which is attributable to dividends or distributions received by it and then held as part of the Collateral pursuant to this section 6. If an Event of Default shall have occurred and be continuing all dividends and
distributions received by the Collateral Agent and then held by it pursuant to this section 6 as part of the Collateral will be applied as provided in section 7 hereof. 
  
 6.4 Turnover by Pledgors. All dividends, distributions or other payments which are received by any Pledgor contrary
to the provisions of this section 6 or section 7 shall be received in trust for the benefit of the Collateral Agent and shall be forthwith paid over to the Collateral Agent as Collateral in the same form as so received (with any necessary
endorsement). 
  

	 	7.	REMEDIES IN CASE OF AN EVENT OF DEFAULT. 

  
 7.1 Remedies Generally; Obtaining of the Collateral. Each Pledgor agrees that, if any Event of Default shall have occurred and be continuing,
then and in every such case, subject to any mandatory requirements of applicable law then in effect, the Collateral Agent, in addition to any rights now or hereafter existing under applicable law, shall have all rights as a secured
creditor under the UCC in all relevant jurisdictions and may (but shall not be obligated to) exercise any or all of the following rights (all of which each Pledgor hereby agrees is commercially reasonable): 
  
 (a) receive all amounts payable in respect of the Collateral
otherwise payable under section 6.1 to a Pledgor; 
  
 (b) exercise any rights the Collateral Agent may have as an “entitlement holder” in respect of any “financial assets” included in the Collateral, as such terms are defined in the UCC of any applicable jurisdiction;

  
 (c) transfer all or any part of the
Collateral into the Collateral Agent’s name or the name of its nominee or nominees; 
  
 (d) pay and discharge taxes, Liens or claims on or against any of the Collateral; 
  
 (e) pay, perform or satisfy, or cause to be paid, performed
or satisfied, for the benefit of any Pledgor, any of the obligations, terms, covenants, provisions or conditions to be paid, observed, performed or satisfied by such Pledgor under any contract, agreement or instrument relating to its Collateral, all
in accordance with the terms, covenants, provisions and conditions thereof, as and to the extent that such Pledgor fails or refuses to perform or satisfy the same; 
  
 (f) enter into any extension, reorganization, deposit, merger or consolidation agreement, or any other
agreement in any way relating to any of the Collateral; 
  
 (g) make any compromise or settlement the Collateral Agent deems desirable or proper with respect to any of the Collateral; and/or 
  
 (h) vote all or any part of the Collateral (whether or not transferred into the name of the Collateral
Agent) and give all consents, waivers and ratifications in respect of the Collateral and otherwise act with respect thereto as though it were the outright owner thereof (each Pledgor hereby irrevocably constituting and appointing the Collateral
Agent the proxy and attorney-in-fact of such Pledgor, with full power of substitution to do so). 
  
 7.2 Disposition of the Collateral. Upon the occurrence and continuance of an Event of Default, the Collateral Agent, may at any time or from time
to time sell, assign and deliver, or grant options to purchase, all or any part of the Collateral, or any interest therein, at any public or private sale, without demand of performance, advertisement or notice of intention to sell or of the time or
place of sale or adjournment thereof or to redeem or otherwise (all of which are hereby waived by each Pledgor), for cash, on credit or for other property, for immediate 

 
or future delivery without any assumption of credit risk, and for such price or prices and on such terms as the Collateral Agent in its absolute discretion
may determine, provided that at least 10 days’ notice of the time and place of any such sale shall be given to the relevant Pledgor; each purchaser at any such sale shall hold the property so sold absolutely free from any claim or
right on the part of any Pledgor, and each Pledgor hereby waives and releases to the fullest extent permitted by law any right or equity of redemption with respect to the Collateral, whether before or after sale hereunder, all rights, if any, of
marshaling the Collateral and any other security for the Secured Obligations or otherwise, and all rights, if any, of stay and/or appraisal which it now has or may at any time in the future have under rule of law or statute now existing or hereafter
enacted; at any such sale, unless prohibited by applicable law, the Collateral Agent on behalf of all Secured Creditors (or certain of them) may bid for and purchase (by bidding in Secured Obligations or otherwise) all or any part of the Collateral
so sold free from any such right or equity of redemption; and neither the Collateral Agent nor any Secured Creditor shall be liable for failure to collect or realize upon any or all of the Collateral or for any delay in so doing nor shall it be
under any obligation to take any action whatsoever with regard thereto. 
  
 7.3 Waiver of Claims. Except as otherwise provided in this Agreement, EACH PLEDGOR HEREBY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, NOTICE AND JUDICIAL HEARING IN CONNECTION WITH THE COLLATERAL AGENT’S TAKING
POSSESSION OR THE COLLATERAL AGENT’S DISPOSITION OF ANY OF THE COLLATERAL, INCLUDING, WITHOUT LIMITATION, ANY AND ALL PRIOR NOTICE AND HEARING FOR ANY PREJUDGMENT REMEDY OR REMEDIES AND ANY SUCH RIGHT WHICH THE PLEDGOR WOULD OTHERWISE HAVE
UNDER THE CONSTITUTION OR ANY STATUTE OF THE UNITED STATES OR OF ANY STATE, and each Pledgor hereby further waives, to the extent permitted by law: 
  
 (i) all damages occasioned by such taking of possession except any damages which are the direct result of the Collateral Agent’s
gross negligence or wilful misconduct; 
  
 (ii)
all other requirements as to the time, place and terms of sale or other requirements with respect to the enforcement of the Collateral Agent’s rights hereunder; and 
  
 (iii) all rights of redemption, appraisement, valuation, stay, extension or moratorium now or hereafter in
force under any applicable law in order to prevent or delay the enforcement of this Agreement or the absolute sale of the Collateral or any portion thereof, and each Pledgor, for itself and all who may claim under it, insofar as it or they now or
hereafter lawfully may, hereby waives the benefit of all such laws. 
  
 Any sale
of, or the grant of options to purchase, or any other realization upon, any Collateral shall operate to divest all right, title, interest, claim and demand, either at law or in equity, of the relevant Pledgor therein and thereto, and shall be a
perpetual bar both at law and in equity against the relevant Pledgor and against any and all persons claiming or attempting to claim the Collateral so sold, optioned or realized upon, or any part thereof, from, through and under the relevant
Pledgor. 
  
 7.4 Application of Proceeds. All Collateral
and proceeds of Collateral obtained and realized by the Collateral Agent in connection with the enforcement of this Agreement pursuant to this section 7 shall be applied as follows: 
  
 (1) first, to the payment to the Collateral Agent, for application to the Secured Obligations
as provided in section 10.3 of the Credit Agreement; and 
  
 (2) second, to the extent remaining after the application pursuant to the preceding clause (1) and following the termination of this Agreement pursuant to section 10.11 hereof, to the relevant Pledgor or
to whomever may be lawfully entitled to receive such payment. 
  
 7.5 Remedies Cumulative, etc. Each and every right, power and remedy hereby specifically given to the Collateral Agent shall be in addition to every other right, power and remedy specifically given under this Agreement, any
Designated Hedge Agreement or the other Credit Documents or now or hereafter existing at law or 

 
in equity, or by statute and each and every right, power and remedy whether specifically herein given or otherwise existing may be exercised from time to
time or simultaneously and as often and in such order as may be deemed expedient by the Collateral Agent. All such rights, powers and remedies shall be cumulative and the exercise or the beginning of exercise of one shall not be deemed a waiver of
the right to exercise of any other or others. No delay or omission of the Collateral Agent in the exercise of any such right, power or remedy, or partial or single exercise thereof, and no renewal or extension of any of the Secured Obligations,
shall impair or constitute a waiver of any such right, power or remedy or shall be construed to be a waiver of any Default or Event of Default or an acquiescence therein. No notice to or demand on any Pledgor in any case shall entitle it to any
other or further notice or demand in similar or other circumstances or constitute a waiver of any of the rights of the Collateral Agent to any other or further action in any circumstances without notice or demand. In the event that the Collateral
Agent shall bring any suit to enforce any of its rights hereunder and shall be entitled to judgment, then in such suit the Collateral Agent may recover reasonable expenses, including attorneys’ fees, and the amounts thereof shall be included in
such judgment. 
  
 7.6 Discontinuance of Proceedings. In
case the Collateral Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall
have been determined adversely to the Collateral Agent, then and in every such case the relevant Pledgor, the Collateral Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with
respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Collateral Agent shall continue as if no such proceeding had been instituted. 
  
 7.7 Purchasers of Collateral. Upon any sale of any of the Collateral
by the Collateral Agent hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Collateral Agent or the officer making the sale shall be a sufficient discharge to the purchaser
or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be answerable in any way for the
misapplication or nonapplication thereof. 
  

	 	8.	REGISTRATION, ETC. 

  
 8.1 Pledgor to Register Pledged Stock of Subsidiaries under 1933 Act, etc. If an Event of Default shall have occurred and be continuing and the
relevant Pledgor shall have received from the Collateral Agent a written request or requests that such Pledgor cause any registration, qualification or compliance under any Federal or state securities law or laws to be effected with respect to all
or any part of the Stock of its Subsidiaries, such Pledgor as soon as practicable and at its expense will use its best efforts to cause such registration to be effected (and be kept effective) and will use its best efforts to cause such
qualification and compliance to be effected (and be kept effective) as may be so requested and as would permit or facilitate the sale and distribution of such Stock, including, without limitation, registration under the Securities Act of 1933, as
then in effect (or any similar statute then in effect), appropriate qualifications under applicable blue sky or other state securities laws and appropriate compliance with any other governmental requirements, provided that the
Collateral Agent shall furnish to such Pledgor such information regarding the Collateral Agent as such Pledgor may request in writing and as shall be required in connection with any such registration, qualification or compliance. The relevant
Pledgor will cause the Collateral Agent to be kept reasonably advised in writing as to the progress of each such registration, qualification or compliance and as to the completion thereof, will furnish to the Collateral Agent such number of
prospectuses, offering circulars and other documents incident thereto as the Collateral Agent from time to time may reasonably request, and will indemnify the Collateral Agent and all others participating in the distribution of such Stock against
all claims, losses, damages or liabilities caused by any untrue statement (or alleged untrue statement) of a material fact contained therein (or in any related registration statement, notification or the like) or by any omission (or alleged
omission) to state therein (or in any related registration statement, notification or the like) a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same may have been caused
by an untrue statement or omission based upon information furnished in writing to such Pledgor by the Collateral Agent expressly for use therein. 
  
 8.2 Sale of Pledged Stock in Connection with Enforcement. If at any time when the Collateral Agent shall determine to exercise its right to sell
all or any part of the Pledged Stock pursuant to section 7, such 

 
Pledged Stock or the part thereof to be sold shall not, for any reason whatsoever, be effectively registered under the Securities Act of 1933, as then in
effect, the Collateral Agent may, in its sole and absolute discretion, sell such Pledged Stock or part thereof by private sale in such manner and under such circumstances as Collateral Agent may deem necessary or advisable in order that such sale
may legally be effected without such registration, provided that at least 10 days’ notice of the time and place of any such sale shall be given to the relevant Pledgor. Without limiting the generality of the foregoing, in any such
event the Collateral Agent, in its sole and absolute discretion, (i) may proceed to make such private sale notwithstanding that a registration statement for the purpose of registering such Pledged Stock or part thereof shall have been filed under
such Securities Act, (ii) may approach and negotiate with a single possible purchaser to effect such sale and (iii) may restrict such sale to a purchaser who will represent and agree that such purchaser is purchasing for its own account, for
investment, and not with a view to the distribution or sale of such Pledged Stock or part thereof. In the event of any such sale, the Collateral Agent shall incur no responsibility or liability to any Pledgor for selling all or any part of the
Pledged Stock at a price which the Collateral Agent may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might be realized if the sale were deferred until the registration as
aforesaid. 
  

	 	9.	INDEMNITY. 

  
 9.1 Indemnity. (a) The Pledgors jointly and severally agree to indemnify, reimburse and hold the Collateral Agent, each Secured Creditor and their
respective Affiliates, successors, assigns, employees, agents and servants (any or all of the foregoing, individually an “Indemnitee” and collectively. the “Indemnitees”) harmless from and against any
and all liabilities, obligations, losses, costs, expenses (including the reasonable fees and disbursements of counsel), damages, penalties, fines, claims, demands, actions, suits, proceedings, judgments, arbitration awards and appeals of whatsoever
kind and nature (all of the foregoing, collectively “Indemnifiable Claims and Amounts”), at any time imposed on, asserted (whether or not successfully) against, or suffered or incurred by, any of the Indemnitees, in any way
relating to or arising out of or otherwise connected to: 
  
 (i) the execution, delivery or performance by any Pledgor of this Agreement or any of the contracts, agreements or instruments included in its Collateral, including, without limitation, any actual or claimed failure
of any Pledgor to duly pay, observe, perform or satisfy any of the obligations, terms, covenants, provisions or conditions to be paid, observed, performed or satisfied by it under any contract, agreement or instrument included in, or otherwise
related to, its Collateral; 
  
 (ii) any
liabilities or obligations of an Issuer which are imposed on a Pledgor (or its successors or assigns, including pledgees) by reason of its status as (w) a stockholder of an Issuer which is a corporation, (x) a partner in an Issuer which is a
partnership, (y) a member of an Issuer which is a limited liability company, or (z) a holder of Equity Interests in any other form of Pledged Entity; and/or 
  
 (iii) any actual or claimed violation by any Pledgor of, or any liabilities or obligations of a Pledgor arising under, any laws,
regulations, rules, orders or judgments of any country, state or other governmental body, unit, agency or court, whether relating to securities or securities transactions or otherwise, in any way related to any of its Collateral; 
  
 provided that no Indemnitee shall be indemnified pursuant to this section
9.1(a) for Indemnifiable Claims and Amounts to the extent caused by the gross negligence or wilful misconduct of such Indemnitee. 
  
 (b) Without limitation of the foregoing, if any action, suit or proceeding is commenced against any Indemnitee which such Indemnitee believes is subject
to indemnification hereunder, such Indemnitee shall promptly notify the Company (who shall receive such notice on behalf of all Pledgors), and such Indemnitee may, and if requested by the Company (on behalf of all Pledgors) shall (so long as
reimbursement by the Pledgors to such Indemnitee of all costs and expenses (including fees and disbursements of counsel) related thereto is assured to the reasonable satisfaction of such Indemnitee), in good faith, contest the validity,
applicability and amount of such action, suit or proceeding with counsel selected by such Indemnitee, and shall permit the Company (on behalf of all Pledgors) to participate in such contest, subject to the overall control and direction of such
Indemnitee and its counsel. In addition, in connection with the defense of any action, suit or proceeding covered by this section 9.1 against more than one Indemnitee, all such Indemnitees shall be represented by the same legal counsel selected by
such Indemnitees; provided, however, that if such legal counsel determines in good faith that representing all such 

 
Indemnitees would or could result in a conflict of interest under the laws or ethical principles applicable to such legal counsel or that a defense or
counterclaim is available to an Indemnitee that is not available to all such Indemnitees, then to the extent reasonably necessary to avoid such a conflict of interest or to permit unqualified assertion of such defense or counterclaim, each
Indemnitee shall be entitled to separate representation by a legal counsel selected by that Indemnitee. 
  
 (c) The Pledgors, jointly and severally, agree that upon written notice by any Indemnitee of the incurrence or sufferance by such Indemnitee of any
Indemnifiable Claims and Amounts, the Pledgors will pay, on demand, all Indemnifiable Claims and Amounts, from time to time incurred or suffered by such Indemnitee. Each Indemnitee agrees to use its best efforts to promptly notify the Company (on
behalf of all Pledgors) of any written assertion of any Indemnifiable Claims and Amounts of which such Indemnitee has actual knowledge. 
  
 (d) Without limitation of the foregoing, the Pledgors jointly and severally agree to pay, or reimburse the Collateral Agent for (if the Collateral Agent
shall have incurred fees, costs or expenses because a Pledgor shall have failed to comply with its obligations under this Agreement or any Credit Document), any and all out-of-pocket fees, costs and expenses of whatever kind or nature incurred in
connection with the creation, preservation or protection of the Security Interest of the Collateral Agent in the Collateral, including, without limitation, all fees and taxes in connection with the recording or filing of instruments and documents in
public offices, payment or discharge of any taxes or Liens upon or in respect of the Collateral, and all other fees, costs and expenses in connection with protecting, maintaining or preserving the Collateral and the Collateral Agent’s interest
therein, whether through judicial proceedings or otherwise, or in defending or prosecuting any actions, suits or proceedings arising out of or relating to the Collateral. 
  
 (e) In addition, and without limitation of the foregoing, the Pledgors jointly and severally agree to pay, indemnify and
hold each Indemnitee harmless from and against any loss, costs, damages and expenses which such Indemnitee may suffer, expend or incur in consequence of or growing out of any material misrepresentation by a Pledgor in this Agreement, or in any
statement or writing contemplated by or made or delivered pursuant to or in connection with this Agreement. 
  
 (f) If and to the extent that the obligations of any Pledgor under this section 9.1 are unenforceable for any reason, each Pledgor hereby agrees to make
the maximum contribution to the payment and satisfaction of such obligations which is permissible under applicable law. 
  
 9.2 Indemnity Obligations Secured by Collateral; Survival. Any amounts paid by any Indemnitee as to which such Indemnitee has the right to
reimbursement shall constitute Secured Obligations secured by the Collateral. The indemnity obligations of the Pledgors contained in this section 9 shall continue in full force and effect notwithstanding the full payment of all the Notes and all of
the other Secured Obligations and notwithstanding the discharge thereof. 
  

	 	10.	MISCELLANEOUS. 

  
 10.1 Notices; Effectiveness; Electronic Communication. (a) Except as otherwise expressly provided herein, all notices and other communications
provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopier as follows, (i) if to the Company, at its address specified in or pursuant to the
Credit Agreement, (ii) if to any other Pledgor, to it c/o the Company at its address specified in or pursuant to the Credit Agreement, (iii) if to the Collateral Agent, to it at the Notice Office of the Administrative Agent, (iv) if to any Lender,
at its address specified in or pursuant to the Credit Agreement, and (v) if to any Designated Hedge Creditor, at such address as such Designated Hedge Creditor shall have specified in writing to each Pledgor and the Collateral Agent. Notices sent by
hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business
hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices delivered through electronic communications to the extent provided in paragraph (b) below, shall be effective
as provided in said paragraph (b). 

 (b) Electronic Communications. Notices and other communications to the Secured Creditors and the
Collateral Agent hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Collateral Agent. The Collateral Agent and each Pledgor may, in its
discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or
communications. 
  
 Unless the Collateral Agent otherwise
prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as
available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been
sent at the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet web site shall be deemed received upon the deemed receipt by the intended recipient at its e-mail
address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the web site address therefor. 
  

(c) Change of Address, etc. Any party hereto may change its address or telecopier number for notices and other communications hereunder by
notice to the other parties hereto. 
  
 10.2 Entire
Agreement. This Agreement, the other Credit Documents and any Designated Hedge Documents represent the final agreement among the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements among the
parties. There are no unwritten oral agreements among the parties. 
  
 10.3 Amendments and Waivers. None of the terms and conditions of this Agreement may be changed, waived, modified or varied in any manner whatsoever unless in writing duly signed by: (i) each Pledgor affected thereby (it being
understood that the addition or release of any Pledgor hereunder shall not constitute a change, waiver, modification or variance affecting any Pledgor other than the Pledgor so added or released); and (ii) the Collateral Agent (acting with the
consent of the Required Lenders or, to the extent required by section 12.12 of the Credit Agreement, all of the Lenders, or all of the Lenders (other than any Defaulting Lender), as applicable), provided, however, that 
  
 (a) no such change, waiver, modification or variance shall
be made to section 7.4, section 9, section 10.11 or this section 10.3 which adversely affects any Secured Creditor without the written consent of such Secured Creditor; 
  
 (b) any change, waiver, modification or variance which adversely affects the rights and benefits of a single
Class of Secured Creditors (and not all Secured Creditors in a like or similar manner) shall require the written consent of the Requisite Creditors of such Class of Secured Creditors; and 
  
 (c) any change, waiver, modification or variance which
adversely affects the rights and benefits of less than all of the members of a single Class of Secured Creditors (and not all Secured Creditors, nor all Secured Creditors of the same Class, in a like or similar manner) shall require the written
consent of each of such members which is adversely affected thereby. 
  
 For the
purpose of this Agreement, the term “Class” shall mean each class of Secured Creditors, i.e., whether (x) the Administrative Agent, the Collateral Agent, the Issuing Bank and the Lenders as holders of the Credit
Document Obligations or (y) the Designated Hedge Creditors as holders of the Designated Hedge Obligations. For the purpose of this Agreement, the term “Requisite Creditors” of any Class shall mean (x) with respect to the
Credit Document Obligations, the Required Lenders and (y) with respect to the Designated Hedge Obligations, the holders of at least 51% of all Designated Hedge Obligations outstanding from time to time under the Designated Hedge Documents.

  
 10.4 Obligations Absolute. The obligations of each
Pledgor under this Agreement shall be absolute and unconditional and shall remain in full force and effect without regard to, and shall not be released, suspended, discharged, terminated or otherwise affected by, any circumstance or occurrence
whatsoever, other than indefeasible 

 
payment in full of, and complete performance of, all of the Secured Obligations and the termination of this Agreement pursuant to section 10.11 hereof,
including, without limitation: 
  
 (a) any
renewal, extension, amendment or modification of, or addition or supplement to or deletion from other Credit Documents or any Designated Hedge Document, or any other instrument or agreement referred to therein, or any assignment or transfer of any
thereof; 
  
 (b) any waiver, consent, extension,
indulgence or other action or inaction under or in respect of any such agreement or instrument or this Agreement except as expressly provided in such renewal, extension, amendment, modification, addition, supplement, assignment or transfer;

  
 (c) any furnishing of any additional security
to the Collateral Agent or its assignee or any acceptance thereof or any release of any security by the Collateral Agent or its assignee; 
  
 (d) any limitation on any person’s liability or obligations under any such instrument or agreement or any invalidity or
unenforceability, in whole or in part, of any such instrument or agreement or any term thereof; 
  
 (e) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other like proceeding relating to a
Pledgor or any Subsidiary of a Pledgor, or any action taken with respect to this Agreement by any trustee or receiver, or by any court, in any such proceeding, whether or not a Pledgor shall have notice or knowledge of any of the foregoing; or

  
 (f) any other event or circumstance which,
but for this provision, might release or discharge a guarantor or other surety from its obligations as such. 
  
 10.5 Successors and Assigns. This Agreement shall be binding upon each Pledgor and its successors and assigns and shall inure to the benefit of the
Collateral Agent and the other Secured Creditors and their successors and assigns, provided that no Pledgor may transfer or assign any or all of its rights or obligations hereunder without the written consent of the Collateral Agent.
All agreements, statements, representations and warranties made by each Pledgor herein or in any certificate or other instrument delivered by such Pledgor or on its behalf under this Agreement shall be considered to have been relied upon by the
Secured Creditors and shall survive the execution and delivery of this Agreement, the other Credit Documents and any Designated Hedge Document regardless of any investigation made by the Secured Creditors on their behalf. 
  
 10.6 Headings Descriptive. The headings of the several sections of
this Agreement are inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement. 
  
 10.7 Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction. 
  
 10.8 Governing Law; Venue. (a)
THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK, NOTWITHSTANDING ITS CONFLICTS OF LAWS RULES. Any legal action or proceeding with
respect to this Agreement may be brought in the Courts of the State of New York sitting in New York County, or of the United States of America for the Southern District of New York, and, by execution and delivery of this Agreement, each Pledgor
hereby irrevocably accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. Each Pledgor hereby irrevocably consents to the service of process out of any of the aforementioned courts
in any such action or proceeding by the mailing of copies thereof by registered mail, return receipt requested, to such Pledgor at its address provided herein, such service to become effective 30 days after such mailing, or such earlier time as may
be provided by applicable law. Nothing herein shall affect the right of the Collateral Agent or any of 

 
the other Secured Creditors to serve process in any other manner permitted by law or to commence legal proceedings or otherwise proceed against each Pledgor
in any other jurisdiction. 
  
 (b) Each Pledgor hereby irrevocably
waives any objection which it may now or hereafter have to the laying of venue of any of the aforesaid actions or proceedings arising out of or in connection with this Agreement or any other Credit Document brought in the courts referred to in
section 10.8(a) above and hereby further irrevocably waives and agrees not to plead or claim in any such court that such action or proceeding brought in any such court has been brought in an inconvenient forum. 
  
 10.9 Enforcement Expenses, etc. The Pledgors hereby jointly and
severally agree to pay, to the extent not paid pursuant to section 12.1 of the Credit Agreement, all out-of-pocket costs and expenses of the Collateral Agent and each other Secured Creditor and their respective Affiliates in connection with the
enforcement of this Agreement, the preservation of the Collateral, the perfection of the Security Interest, and any amendment, waiver or consent relating hereto (including, without limitation, the fees and disbursements of counsel employed by the
Collateral Agent or any of the other Secured Creditors). 
  
 10.10 Release of Portions of Collateral. (a) So long as no Event of Default is in existence or would exist after the application of proceeds as provided below, the Collateral Agent shall, at the request of a Pledgor, release any or
all of the Collateral of such Pledgor, provided that (x) such release is permitted by the terms of the Credit Agreement (it being agreed for such purposes that a release will be deemed “permitted by the terms of the Credit
Agreement” if the proposed transaction constitutes an exception contained in section 9.2 of the Credit Agreement) or otherwise has been approved in writing by the Required Lenders (or, to the extent required by section 12.12 of the
Credit Agreement, all of the Lenders, or all of the Lenders (other than any Defaulting Lender), as applicable) and (y) the proceeds of such Collateral are to be applied as required pursuant to the Credit Agreement or any consent or waiver entered
into with respect thereto. 
  
 (b) At any time that a Pledgor
desires that the Collateral Agent take any action to give effect to any release of Collateral pursuant to the foregoing section 10.10(a), it shall deliver to the Collateral Agent a certificate signed by a principal executive officer of such Pledgor
stating that the release of the respective Collateral is permitted pursuant to section 10.10(a). In the event that any part of the Collateral is released as provided in section 10.10(a), the Collateral Agent, at the request and expense of a Pledgor,
will duly release such Collateral and assign, transfer and deliver to such Pledgor (without recourse and without any representation or warranty) such of the Collateral as is then being (or has been) so sold and as may be in the possession of the
Collateral Agent and has not theretofore been released pursuant to this Agreement. The Collateral Agent shall have no liability whatsoever to any Secured Creditor as the result of any release of Collateral by it as permitted by this section 10.10.
Upon any release of Collateral pursuant to section 10.10(a), none of the Secured Creditors shall have any continuing right or interest in such Collateral, or the proceeds thereof. 
  
 10.11 Termination. After the termination of the Total Commitment and all Designated Hedge Documents, when no Note nor
Letter of Credit is outstanding and when all Loans and other Secured Obligations (other than unasserted indemnity obligations) have been indefeasibly paid in full, this Agreement shall terminate, and the Collateral Agent, at the request and expense
of the Pledgors, will execute and deliver to the relevant Pledgor a proper instrument or instruments (including UCC termination statements on form UCC-3) acknowledging the satisfaction and termination of this Agreement, and will duly assign,
transfer and deliver to the relevant Pledgor (without recourse and without any representation or warranty) such of the Collateral as may be in the possession of the Collateral Agent and as has not theretofore been sold or otherwise applied or
released pursuant to this Agreement. 
  
 10.12 Collateral
Agent. The Collateral Agent will hold in accordance with this Agreement all items of the Collateral at any time received under this Agreement. The acceptance by the Collateral Agent of this Agreement, with all the rights, powers, privileges and
authority so created, shall not at any time or in any event obligate the Collateral Agent to appear in or defend any action or proceeding relating to the Collateral to which it is not a party, or to take any action hereunder or thereunder, or to
expend any money or incur any expenses or perform or discharge any obligation, duty or liability under the Collateral. By accepting the benefits of this Agreement, each Secured Creditor acknowledges and agrees that the rights and obligations of the
Collateral Agent shall be as set forth in section 11 of the Credit Agreement. Notwithstanding anything to the contrary contained in section 10.3 of this 

 
Agreement or section 12.12 of the Credit Agreement, this section 10.12, and the duties and obligations of the Collateral Agent set forth in this section
10.12, may not be amended or modified without the consent of the Collateral Agent. 
  
 10.13 Only Collateral Agent to Enforce on Behalf of Secured Creditors. The Secured Creditors agree by their acceptance of the benefits hereof that this Agreement may be enforced on their behalf only by the
action of the Collateral Agent, acting upon the instructions of the Required Lenders (or, after all Credit Document Obligations have been paid in full, instructions of the holders of at least 51% of the outstanding Designated Hedge Obligations) and
that no other Secured Creditor shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon the security to be granted hereby, it being understood and agreed that such rights and remedies may be exercised by
the Collateral Agent, for the benefit of the Secured Creditors, upon the terms of this Agreement. 
  
 10.14 Other Creditors, etc. Not Third Party Beneficiaries. No creditor of any Pledgor or any of its Affiliates, or other person claiming by,
through or under any Pledgor or any of its Affiliates, other than the Collateral Agent and the other Secured Creditors, and their respective successors and assigns, shall be a beneficiary or third party beneficiary of this Agreement or otherwise
shall derive any right or benefit herefrom. 
  
 10.15
Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto on separate counterparts, including by way of facsimile transmission capable of authentication, each of which when so executed and
delivered shall be an original, but all of which shall together constitute one and the same agreement. A set of counterparts executed by all the parties hereto shall be lodged with the Company and the Collateral Agent. 
  
 10.16 WAIVER OF JURY TRIAL. EACH PLEDGOR, THE COLLATERAL AGENT AND EACH
OTHER SECURED CREDITOR (BY THEIR ACCEPTANCE OF THE BENEFITS HEREOF) HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE OTHER CREDIT DOCUMENTS
(INCLUDING, WITHOUT LIMITATION, ANY AMENDMENTS, WAIVERS OR OTHER MODIFICATIONS RELATING TO ANY OF THE FOREGOING), OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PLEDGOR AND EACH OTHER SECURED CREDITOR (BY THEIR ACCEPTANCE OF THE BENEFITS
HEREOF) HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY SECURED CREDITOR OR ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH SECURED CREDITOR OR OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER, AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PERSONS PARTY HERETO OR BENEFITED HEREBY HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

  
 [Remainder of page intentionally left blank.] 

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

			
	PLEDGORS
	 
	MEMC ELECTRONIC MATERIALS, INC.
		
	By:	 	/s/ THOMAS E. LINNEN

			
	Name:	 	Thomas E. Linnen
	Title:	 	 Senior Vice President and
 Chief Financial
Officer

	 
	MEMC HOLDINGS CORPORATION
	 
		
	By:	 	/s/ THOMAS E. LINNEN

			
	Name:	 	Thomas E. Linnen
	Title:	 	President and Assistant Secretary
	 
	MEMC INTERNATIONAL, INC.
	 
		
	By:	 	/s/ THOMAS E. LINNEN

			
	Name:	 	Thomas E. Linnen
	Title:	 	President and Assistant Secretary
	 
	MEMC PASADENA, INC.
	 
		
	By:	 	/s/ THOMAS E. LINNEN

			
	Name:	 	Thomas E. Linnen
	Title:	 	Chief Financial Officer and Assistant Secretary
	 
	MEMC SOUTHWEST, INC.
	 
		
	By:	 	/s/ THOMAS E. LINNEN

			
	Name:	 	Thomas E. Linnen
	Title:	 	Chief Financial Officer and Assistant Secretary
	 
	COLLATERAL AGENT:
	 
	NATIONAL CITY BANK OF THE MIDWEST
	 
		
	By:	 	/s/ ERIC HARTMAN
	Name:	 	Eric Hartman
	Title:	 	Vice PresidentSixth Amendment to Lease

 Exhibit 10.27 
  
 SIXTH AMENDMENT TO LEASE 
  
 THIS SIXTH AMENDMENT TO LEASE (“Amendment”) is made and entered into as of the
             day of June, 2005 by and between WXI/SAN REALTY, L.L.C., a Delaware limited liability company (“Landlord”), and PLUMTREE SOFTWARE INC., a Delaware
corporation (“Tenant”). 
  
 R E
C I T A L S : 
  
 A. BPG
Sansome, L.L.C., a Delaware limited liability company (“Original Landlord”), and Tenant entered into that certain Office Lease dated as of April 7, 1999 (the “Original Lease”), as amended by that certain First
Amendment to Lease dated as of May 31, 2000 by and between Landlord and Tenant (“First Amendment”), that certain Second Amendment to Lease dated September 20, 2000 (“Second Amendment”), that certain Third Amendment
to Lease dated November 22, 2000 (“Third Amendment”), that certain Fourth Amendment to Lease dated July 31, 2002 (“Fourth Amendment”) and that certain Fifth Amendment to Lease dated July 21, 2003 (“Fifth
Amendment”), whereby Tenant leased certain office space in the building located at 500 Sansome Street, San Francisco, California. The Original Lease, as amended by the First Amendment, Second Amendment, Third Amendment, Fourth Amendment and
Fifth Amendment, is referred to herein as the “Lease.” Landlord is the successor-in-interest to Original Landlord. 
  
 B. By this Amendment, Landlord and Tenant desire to extend the Lease Term and to otherwise modify the Lease as provided herein. 
  
 C. Unless otherwise defined herein, capitalized terms as used herein shall
have the same meanings as given thereto in the Lease. 
  
 NOW,
THEREFORE, in consideration of the foregoing recitals and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

  
 A G R E E M E
N T : 
  
 1. The Premises. Landlord currently
leases to Tenant the Premises, which the parties agree contain 41,030 rentable square feet located within Suites 100, 101, 102, 200, 310, M-4 and M100 on the first (1st), second (2nd), third
(3rd) and mezzanine floors of the Building. 
  
 2. Extended Lease Term. The Lease Term shall be extended such that the Lease shall terminate on October 31, 2008
(“Revised Termination Date”). The period from July 1, 2005 through the Revised Termination Date is referred to herein as the “Extended Term.” Tenant shall only have the right to extend the Lease beyond the Extended
Term pursuant to Section 6 below; consequently, Section 9 of the First Amendment shall be null and void and of no further force or effect. 
  
 3. Monthly Base Rent. During the Extended Term, Tenant shall pay monthly Base Rent for the Premises as follows: 
  

							
	 Period

	  	Monthly Installment
of Base Rent

	  	Annual Base Rent
Per Rentable
Square Foot

	 Extended Term
	  	$	149,862.07	  	$	43.83

  
 4. Base Year.
Effective as of November 1, 2006, the Base Year shall be the calendar year 2007. 

 5. Refurbishment of Improvements in the Premises. Subject to compliance with the provisions of
Article 7 of the Original Lease (as amended pursuant to Section 8 below), Tenant shall be entitled to renovate the bathrooms in the first (1st) and mezzanine levels of the Premises. In connection therewith, Tenant shall be entitled to a one-time refurbishment allowance (the “Refurbishment Allowance”) in an amount equal to Forty Thousand and 00/100
Dollars ($40,000.00) to reimburse Tenant for the third party costs incurred by Tenant relating to the design and construction of such renovations (the “Refurbished Improvements”). Landlord shall deliver the Refurbishment Allowance
to Tenant promptly following Landlord’s receipt of evidence of the lien free completion of the Refurbished Improvements in compliance with the plans therefor approved by Landlord and an itemized invoice identifying the costs sought to be
reimbursed from the Refurbishment Allowance; provided, however, in no event will Landlord be obligated to disburse the Refurbishment Allowance (i) at any time Tenant is in default under the Lease or any circumstance exists that, with the giving of
notice, the passage of time, or both, would constitute a default under the Lease, or (ii) if Tenant has not completed the Refurbished Improvements within one (1) year following the date hereof. In no event shall Landlord be obligated to make
disbursements under this Section 5 in a total amount which exceeds the Refurbishment Allowance. In no event shall Tenant be entitled to any credit for any unused portion of the Refurbishment Allowance. 
  
 5.1 No Rent Abatement. Tenant acknowledges that the work contemplated
pursuant to this Section 5 above shall be performed during the Lease Term and/or the Extended Term, that Tenant shall be entitled to (but shall not be obligated to) conduct business throughout the course of construction of such renovations and that
Tenant shall not be entitled to any abatement of rent as a result of the construction of such renovations. 
  
 6. Option Term. Landlord hereby grants to the Tenant one (1) option to extend the Extended Term for a period of three (3) years (“Option
Term”), which option shall be exercisable only by written notice (“Option Notice”) delivered by Tenant to Landlord as provided in Section 6.2 below. Tenant shall not have the rights contained in this Section 6 if, as of the
date of the Option Notice or, at Landlord’s option, as of the commencement of the Option Term, Tenant is in default under the Lease after any applicable notice and cure periods, Tenant or an Affiliate (as defined in Section 9 below) does not
physically occupy the entire Premises, if any portion of the Premises is subject to a sublease (other than to an Affiliate), if the Lease has been assigned (other than to an Affiliate), or if any portion of the Premises has been recaptured pursuant
to Section 13.3 of the Original Lease. 
  
 6.1
Option Rent. The Rent payable by Tenant during the Option Term (the “Option Rent”) shall be equal to the fair market rent for the Premises as of the commencement date of the Option Term. The fair market rent shall be the
rental rate, including all escalations, at which tenants, as of the commencement of the Option Term, are leasing non-sublease, non-encumbered space comparable in size, location and quality to the Premises for a term of three (3) years, which
comparable space is located in other comparable office buildings in the “CBD” of San Francisco, taking into consideration (i) annual rental rates per rentable square foot, (ii) intentionally omitted, (iii) the type of escalation clauses
(including, without limitation, whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), (iv) rental abatement
concessions reflecting free rent and/or no rent, (v) tenant improvement allowances, if any, and (vi) all other monetary and non-monetary concessions, if any, being granted to new (i.e., non-renewal) tenants in connection with comparable space.
However, for purposes of determining the fair market rent, rental rates paid by tenants leasing comparable space that have been discounted to a rate below fair market rent, whether by application of a percentage to fair market rent or otherwise,
shall not be taken into consideration (unless such rentals rates are adjusted appropriately to reflect the fair market rate prior to applying the discount) nor shall rental rates paid by tenants leasing comparable space pursuant to a fixed rental
rate (or predetermined minimum or maximum rental rate) renewal option. 
  
 6.2 Exercise of Option. The option contained in this Section 6 shall be exercised by the Tenant, if at all, only in the following manner: (i) Tenant shall deliver written notice (“Interest
Notice”) to Landlord no sooner than twelve (12) months and no later than ten (10) months prior to the expiration of the Extended Term, stating that Tenant is interested in exercising its option; (ii) Landlord, after receipt of the Interest
Notice, shall deliver notice (the “Option Rent Notice”) to Tenant setting forth Landlord’s determination of the Option Rent; and 

  

 -2- 

 
(iii) if Tenant wishes to exercise such option, Tenant shall, within thirty (30) days after Tenant’s receipt of the Option Rent Notice, exercise the
option by delivering the Option Notice to Landlord and upon, and concurrent with, such exercise, Tenant may, at its option, object to the Option Rent determined by Landlord. If Tenant exercises the option to extend but objects to the Option Rent
contained in the Option Rent Notice, then the Option Rent shall be determined as set forth in Section 6.3 below. Failure of Tenant to deliver the Interest Notice to Landlord on or before the date specified in (i) above or to deliver the Option
Notice to Landlord on or before the date specified in (iii) above shall be deemed to constitute Tenant’s failure to exercise its option to extend. If Tenant timely and properly exercises its option to extend, the Extended Term, subject to
Section 6.3 below, shall be extended for the Option Term upon all of the terms and conditions set forth in the Lease, except that the Rent shall be as indicated in the Option Rent Notice or as determined in accordance with Section 6.3, as
applicable, and all references herein to the Extended Term shall include the Option Term. 
  
 6.3 Determination of Option Rent. In the event Tenant exercises its option to extend but objects to Landlord’s determination
of the Option Rent concurrently with its exercise of the option to extend, Landlord and Tenant shall attempt to agree in good faith upon the Option Rent. If Landlord and Tenant fail to reach agreement within twenty (20) days following Tenant’s
delivery of the Option Notice (the “Outside Agreement Date”), then each party shall make a separate determination of the Option Rent, within five (5) business days after the Outside Agreement Date, concurrently exchange such
determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3(a) through 2.2.3(g) below. 
  
 (a) Landlord and Tenant shall each appoint one arbitrator who shall by profession be a real estate broker who shall have been active over
the five (5) year period ending on the date of such appointment in the leasing of office space in comparable office buildings in the “CBD” of San Francisco. The determination of the arbitrators shall be limited solely to the issue of
whether Landlord’s or Tenant’s submitted Option Rent is the closest to the actual fair market rent, as determined by the arbitrators, taking into account the requirements of Section 6.1 of this Amendment. Each such arbitrator shall be
appointed within fifteen (15) business days after the applicable Outside Agreement Date. 
  
 (b) The two (2) arbitrators so appointed shall within five (5) days of the date of the appointment of the last appointed arbitrator agree
upon and appoint a third arbitrator who shall be qualified under the same criteria set forth hereinabove for qualification of the initial two (2) arbitrators. 
  

(c) The three (3) arbitrators shall within five (5) days of the appointment of the third arbitrator reach a decision as to whether the
parties shall use Landlord’s or Tenant’s submitted Option Rent and shall notify Landlord and Tenant thereof. 
  
 (d) The decision of the majority of the three (3) arbitrators shall be binding upon Landlord and Tenant. 
  
 (e) If either Landlord or Tenant fails to appoint an
arbitrator within fifteen (15) business days after the applicable Outside Agreement Date, the arbitrator appointed by one of them shall reach a decision, notify Landlord and Tenant thereof, and such arbitrator’s decision shall be binding upon
Landlord and Tenant. 
  
 (f) If the two (2)
arbitrators fail to agree upon and appoint a third arbitrator, or both parties fail to appoint an arbitrator, then the appointment of the third arbitrator or any arbitrator shall be dismissed and the Option Rent to be decided shall be forthwith
submitted to arbitration under the provisions of the American Arbitration Association, but subject to the instruction set forth in this Section 6.3. 
  
 (g) The cost of arbitration shall be paid by Landlord and Tenant equally. 
  
 7. Operating Expenses. Notwithstanding anything to the contrary contained in the Lease, Landlord agrees that (i)
Landlord will not collect or be entitled to collect Operating Expenses from all of its tenants in an amount which is in excess of one hundred percent (100%) 

  

 -3- 

 
of the Operating Expenses actually accrued or paid by Landlord for any given year in connection with the operation of the Project. Additionally,
notwithstanding anything to the contrary contained in Section 4.4(i) of the Original Lease, all costs incurred by Landlord that would be categorized as capital expenditures, as reasonably determined by Landlord in accordance with sound accounting
and property management principles consistently applied, shall be amortized (including interest on the unamortized cost) over its useful life and only the amortized portion applicable to any calendar year shall be included in Operating Expenses for
such calendar year. 
  
 8. Alterations. Notwithstanding
anything to the contrary contained in the Lease, (i) Landlord shall not unreasonably withhold, condition or delay consent to any Alterations, (ii) Tenant may use any construction managers, project managers, designers or consultants in connection
with the Alterations and Landlord shall have no approval rights with respect to such managers, designers or consultants, (iii) the general contractor and the mechanical, electrical, plumbing and lifesafety engineers and subcontractors utilized by
Tenant in connection with the Alterations shall be subject to Landlord’s reasonable approval or selected by Tenant from a list of Landlord approved general contractors and mechanical, electrical, plumbing and lifesafety engineers and
subcontractors, (iv) Landlord shall charge Tenant a construction supervision fee in connection with any Alterations, which fee shall be an amount equal to three percent (3%) of the cost of such Alterations, only if the Alterations require (a) a
building permit, (b) changes to the Building structure or Building’s systems and equipment, or (c) plans, specifications and working drawings which Landlord must approve, and (v) Tenant shall have no obligation to remove any Alterations from
the Premises upon the expiration or earlier termination of the Lease unless Landlord requires the removal of such Alterations as a condition to Landlord’s consent to such Alterations. 
  
 9. Affiliate Transfers. Notwithstanding anything to the contrary
contained in the Lease, an assignment or subletting of all or a portion of the Premises to an affiliate (“Affiliate”) of Tenant (an entity which is controlled by, controls, or is under common control with, Tenant or any corporation
or other business entity that succeeds to the business of Tenant in the Premises as a result of a merger, consolidation, sale of assets, or other business reorganization), shall not be deemed a Transfer under Article 13 of the Original Lease,
provided that (i) Tenant notifies Landlord of any such assignment or sublease prior to the effective date thereof and promptly supplies Landlord with any documents or information requested by Landlord regarding such assignment or sublease or such
Affiliate (including, in the event of an assignment, evidence of the assignee’s assumption of Tenant’s obligations under the Lease or, in the event of a sublease, evidence of the sublessee’s assumption, in full, of the obligations of
Tenant with respect to the portion of the Premises so subleased, other than the payment of rent), (ii) such assignment or sublease is not a subterfuge by Tenant to avoid its obligations under the Lease, (iii) such assignment or sublease does not
cause Landlord to be in default under any existing lease at the Project, (iv) the net worth of such Affiliate is at least equal to the net worth of Tenant and any guarantor hereof as of the date of the Lease, and (v) with respect to a subletting
only, Tenant and such Affiliate execute Landlord’s standard consent to sublease form. An assignee of Tenant’s entire interest in the Lease pursuant to the immediately preceding sentence may be referred to herein as an “Affiliated
Assignee.” “Control,” as used in this Article 14, shall mean the ownership, directly or indirectly, of greater than fifty-one percent (51%) of the voting securities of, or possession of the right to vote, in the ordinary
direction of its affairs, of greater than fifty-one percent (51%) of the voting interest in, an entity. 
  
 10. Transfer Premium. Effective as of the date hereof, Section 13 of the First Amendment is hereby deleted in its entirety and shall have no
further force or effect; consequently, Tenant shall pay to Landlord fifty percent (50%) of any Transfer Premium. 
  
 11. Tenant’s Sublease from Ambassadors. Pursuant to that certain Consent to Sublease dated May 7, 2004 (“Consent”), between
Landlord, Ambassadors Technology Corporation, a Delaware corporation (“Ambassadors”), and Tenant, Landlord consented to Tenant’s sublease of space from Ambassadors. Notwithstanding anything to the contrary contained in the
Consent, in the event of a termination of Landlord’s lease with Ambassadors, Landlord hereby agrees (i) not to terminate Tenant’s sublease of such space, and (ii) to elect to succeed to Ambassador’s interest in such sublease and cause
Tenant to attorn to Landlord, subject to the terms and conditions of Section 3.2 of the Consent.  
  

 -4- 

 12. Letter of Credit. Promptly after Tenant’s execution of this Amendment, Tenant shall have
the right deliver to Landlord an unconditional, irrevocable, renewable and transferable letter of credit (“Letter of Credit”) in favor of Landlord in a form reasonably approved by Landlord, issued by a bank reasonably satisfactory
to Landlord with a branch located in Southern California at which Landlord can present and draw upon the Letter of Credit, in the principal amount specified below (“Stated Amount”), to be held by Landlord in accordance with the
terms, provisions and conditions of this Section 12. Upon Tenant’s delivery of such Letter of Credit to Landlord, Landlord shall surrender Tenant’s letter of credit in favor of Landlord currently in Landlord’s possession, in which
case the provisions of Section 7 of the First Amendment and Section 8 of the Second Amendment shall be deemed null and void and of no further force or effect and the provision of this Section 12 shall control with respect to the Letter of Credit.
Tenant shall pay all expenses, points and/or fees incurred by Tenant in obtaining the Letter of Credit satisfying all terms, covenants and provisions of this Section 12. In no event shall the issuing bank have total assets of less than One Billion
Dollars and capital less than six percent (6%) of its total assets (in each case as defined by the applicable federal regulator of the respective bank). If at any time the issuing bank does not satisfy such criteria, Tenant shall immediately deliver
to Landlord a replacement Letter of Credit issued by a bank that satisfies such criteria. The Stated Amount shall be equal to Four Hundred Thousand Dollars ($400,000.00). 
  
 12.1 The Letter of Credit shall state that an authorized officer or other representative of Landlord may
make demand on Landlord’s behalf for the Stated Amount of the Letter of Credit, or any portion thereof, from time to time, and that the issuing bank must immediately honor such demand, without qualification or satisfaction of any conditions,
except the proper identification of the party making such demand (the foregoing requirement will be satisfied with language to the following effect in the Letter of Credit: “Beneficiary is entitled to draw upon the Letter of Credit in
accordance with that certain Office Lease dated April 7, 1999, as amended, between Beneficiary and Applicant”). In addition, the Letter of Credit shall indicate that it is transferable in its entirety by Landlord as beneficiary and that upon
receiving written notice of transfer, and upon presentation to the issuing bank of the original Letter of Credit, the issuer or confirming bank will reissue the Letter of Credit naming such transferee as the beneficiary. Tenant shall be responsible
for the payment to the issuing bank of any transfer costs imposed by the issuing bank in connection with any such transfer. If (A) the term of the Letter of Credit held by Landlord will expire prior to thirty (30) days following the last day of the
Term and the Letter of Credit is not extended, or a new Letter of Credit for an extended period of time is not substituted, at least thirty (30) days prior to the expiration of the Letter of Credit, or (B) Tenant commits a default beyond any
applicable notice and cure period, with respect to any provision of this Lease, or (C) Tenant files a voluntary petition under Title 11 of the United States Code (i.e., the Bankruptcy Code), or otherwise becomes a debtor in any case or proceeding
under the Bankruptcy Code, as now existing or hereinafter amended, or any similar law or statute, or (D) Tenant does not deliver a substitute Letter of Credit as required above in the event the issuing bank fails to satisfy the financial criteria
set forth above, Landlord may (but shall not be required to) draw upon all or any portion of the Stated Amount of the Letter of Credit, and the proceeds received from such draw shall constitute Landlord’s property (and not Tenant’s
property or the property of the bankruptcy estate of Tenant) and Landlord may then use, apply or retain all or any part of the proceeds for (1) the payment of any sum which is in default, (2) for the payment of any other amount which Landlord may
spend or become obligated to spend by reason of Tenant’s default, (3) to compensate Landlord for any loss or damage which Landlord may suffer by reason of Tenant’s default or (4) as prepaid rent to be applied against Tenant’s Base
Rent obligations for the last month of the Lease Term and the immediately preceding month(s) of the Lease Term until the remaining proceeds are exhausted. If any portion of the Letter of Credit proceeds are so used or applied, Tenant shall, within
ten (10) days after demand therefor, post an additional Letter of Credit in an amount to cause the aggregate amount of the unused proceeds and such new Letter of Credit to equal the Stated Amount. Landlord shall not be required to keep any proceeds
from the Letter of Credit separate from its general funds. Should Landlord sell its interest in the Premises during the Lease Term and if Landlord deposits with the purchaser thereof the Letter of Credit or any proceeds of the Letter of Credit,
thereupon Landlord shall be discharged from any further liability with respect to the Letter of Credit and said proceeds and Tenant shall look solely to such transferee for the return of the Letter of Credit or any proceeds therefrom. The Letter of
Credit or any remaining proceeds of the Letter of Credit held by Landlord after expiration of the Lease Term, after any deductions 

  

 -5- 

 
described above, shall be returned to Tenant or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder, within thirty (30) days
following the expiration of the Lease Term. 
  
 12.2 The use, application or retention of the Letter of Credit, the proceeds or any portion thereof, shall not prevent Landlord from exercising any other rights or remedies provided under the Lease, it being intended that Landlord shall not
be required to proceed against the Letter of Credit, and such use, application or retention of the Letter of Credit shall not operate as a limitation on any recovery to which Landlord may otherwise be entitled. No trust relationship is created
herein between Landlord and Tenant with respect to the Letter of Credit. 
  
 12.3 Landlord and Tenant acknowledge and agree that in no event or circumstance shall the Letter of Credit, any renewal thereof or substitute therefor or the proceeds thereof be (i) deemed to be or treated as a
“security deposit” within the meaning of California Civil Code Section 1950.7, (ii) subject to the terms of such Section 1950.7, or (iii) intended to serve as a “security deposit” within the meaning of such Section 1950.7. The
parties hereto (A) recite that the Letter of Credit is not intended to serve as a security deposit and such Section 1950.7 and any and all other laws, rules and regulations applicable to security deposits in the commercial context (“Security
Deposit Laws”) shall have no applicability or relevancy thereto and (B) waive any and all rights, duties and obligations either party may now or, in the future, will have relating to or arising from the Security Deposit Laws. 
  
 12.4 The provisions of this Section 12 shall survive the
expiration or earlier termination of this Lease. 
  
 13.
Mezzanine Improvements. Effective as of the date hereof, all rights and/or obligations of Tenant under the Lease regarding the construction of improvements in the portion of the Premises located on the mezzanine level of the Project shall be
null and voice and have no further force or effect, including, the second paragraph of Section 2.1 of Exhibit B to the Second Amendment. 
  
 14. Right of First Negotiation. At any time during the Lease Term that space in the Project becomes available for lease (“Available
Space”) and Landlord intends to market the Available Space, Landlord shall deliver written notice to Tenant identifying the Available Space to Tenant (the “Availability Notice”). Within five (5) days of Tenant’s
receipt of The Availability Notice, Tenant shall have the right, by delivering written notice to Landlord (the “Offer Notice”), to offer to lease the Available Space from Landlord on the terms and conditions proposed by Tenant in
the Offer Notice. Upon Landlord’s receipt of the Offer Notice, Landlord and Tenant shall, for a period of fifteen (15) days after Landlord’s receipt of the Offer Notice, negotiate in good faith to reach agreement as to the terms upon which
Tenant may lease the Available Space. Notwithstanding the foregoing, nothing in this Section 14 shall give Tenant any right to lease such the Available Space or obligate Landlord to lease the Available Space to Tenant. If Tenant does not timely
deliver the Offer Notice, or, if Tenant timely delivers the Offer Notice and if Landlord and Tenant are thereafter unable to reach agreement on such terms within said fifteen (15) day period, then Landlord shall be free to lease the Available Space
to anyone to whom Landlord desires. Notwithstanding anything to the contrary contained herein, Landlord shall have no obligation to deliver the Availability Notice after October 31, 2007, unless, as of such date, the Extended Term has been extended
by exercise of the option to extend in Section 6 above or otherwise. 
  
 14.1 Lease of Available Space. If Tenant timely delivers the Offer Notice and the parties agree upon the terms of Tenant’s lease of the Available Space, Landlord and Tenant shall execute an amendment
adding the Available Space to the Lease upon the same non-economic terms and conditions as applicable to the initial Premises, and the economic terms agreed upon by the parties. 
  
 14.2 Termination of Right of First Negotiation. The right of first negotiation granted herein shall
terminate as to a particular Available Space upon the failure by Tenant to timely deliver the Offer Notice or if Landlord and Tenant are unable to agree on the terms on which Tenant may lease the Available Space, but shall remain in effect for any
subsequent availability of all or any portion of the remaining Available Space. Landlord shall not have any obligation to deliver the Availability Notice if, as of the date Landlord would otherwise deliver the Availability Notice to Tenant, Tenant
is in default under the Lease after any applicable notice and cure periods, Tenant or an Affiliate does not physically occupy the entire Premises, if any 

  

 -6- 

 
portion of the Premises is subject to a sublease (other than to an Affiliate), if the Lease has been assigned (other than to an Affiliate), or if any portion
of the Premises has been recaptured pursuant to Section 13.3 of the Original Lease. In addition, at Landlord’s option, if Tenant has previously delivered Offer Notice and Landlord and Tenant have agreed upon terms on which Tenant may lease the
Available Space in accordance with Section 14 and, as of the scheduled date of delivery of such Available Space to Tenant, Tenant is in default under the Lease after any applicable notice and cure periods, Tenant or an Affiliate does not physically
occupy the entire Premises, if any portion of the Premises is subject to a sublease (other than to an Affiliate), if the Lease has been assigned (other than to an Affiliate), or if any portion of the Premises has been recaptured pursuant to Section
13.3 of the Original Lease, Tenant shall not have the right to lease the Available Space. 
  
 15. Right of First Offer. Effective as of the date hereof, Section 10 of the First Amendment shall be deleted in its entirety and shall have no further force or effect. 
  
 16. Brokers. Each party represents and warrants to the other that no
broker, agent or finder, other than Cushman and Wakefield of California, Inc. and Jones Lang LaSalle (collectively, “Brokers”), negotiated or was instrumental in negotiating or consummating this Amendment. Each party further agrees
to defend, indemnify and hold harmless the other party from and against any claim for commission or finder’s fee by any person or entity, other than Brokers, who claims or alleges that they were retained or engaged by the indemnifying party or
at the request of such party in connection with this Amendment. 
  
 17. Defaults. Tenant hereby represents and warrants to Landlord that, as of the date of this Amendment, Tenant is in full compliance with all terms, covenants and conditions of the Lease and that there are no breaches or defaults
under the Lease by Landlord or Tenant, and that Tenant knows of no events or circumstances which, given the passage of time, would constitute a default under the Lease by either Landlord or Tenant. 
  
 18. Tenant Representations. Each person executing this Amendment on
behalf of Tenant represents and warrants to Landlord that: (a) Tenant is properly formed and validly existing under the laws of the state in which Tenant is formed and Tenant is authorized to transact business in the state in which the Building is
located; (b) Tenant has full right and authority to enter into this Amendment and to perform all of Tenant’s obligations hereunder; and (c) each person (and both persons if more than one signs) signing this Amendment on behalf of Tenant is duly
and validly authorized to do so. 
  
 19. No Further
Modification. Except as set forth in this Amendment, all of the terms and provisions of the Lease shall apply during the Extended Term and shall remain unmodified and in full force and effect. Effective as of the date hereof, all references to
the “Lease” shall refer to the Lease as amended by this Amendment. 
  
 20. Counterparts and Fax Signatures. This Amendment may be executed in counterparts, each of which shall be deemed an original, but such counterparts, when taken together, shall constitute one agreement. This
Amendment may be executed by a party’s signature transmitted by facsimile (“fax”), and copies of this Amendment executed and delivered by means of faxed signatures shall have the same force and effect as copies hereof executed
and delivered with original signatures. All parties hereto may rely upon faxed signatures as if such signatures were originals. Any party executing and delivering this Amendment by fax shall promptly thereafter deliver a counterpart signature page
of this Amendment containing said party’s original signature. All parties hereto agree that a faxed signature page may be introduced into evidence in any proceeding arising out of or related to this Amendment as if it were an original signature
page. 
  

 -7- 

 IN WITNESS WHEREOF, this Amendment has been executed as of the day and year first above written.

  

					
	“Landlord:”
	
	 WXI/SAN REALTY, L.L.C.,
 a Delaware limited
liability company

		
	By:	 	 MRC Properties VI, L.L.C.,
 a Delaware
limited liability company

			
	 	 	By:	 	 
	 	 	Name:	 	 
	 	 	Title:	 	 
	
	“Tenant”*:
	
	 PLUMTREE SOFTWARE, INC.,
 a Delaware
corporation

		
	By:	 	 
	 	 	Print Name:	 	 
	 	 	Title:	 	 
		
	By:	 	 
	 	 	Print Name:	 	 
	 	 	Title:	 	 

  
 *NOTE: 
  
 If Tenant is a California corporation, then one of the following alternative
requirements must be satisfied: 
  
 (A) This Amendment must be signed by two (2)
officers of such corporation: one being the chairman of the board, the president or a vice president, and the other being the secretary, an assistant secretary, the chief financial officer or an assistant treasurer. If one (1) individual is
signing in two (2) of the foregoing capacities, that individual must identify the two (2) capacities. 
  
 (B) If the requirements of (A) above are not satisfied, then Tenant shall deliver to Landlord evidence in a form reasonably acceptable to Landlord that the signatory(ies) is (are) authorized to execute this Amendment.

  
 If Tenant is a corporation incorporated in a state other than
California, then Tenant shall deliver to Landlord evidence in a form reasonably acceptable to Landlord that the signatory(ies) is (are) authorized to execute this Amendment. 
  

 -8-

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