Document:

exv10w2

Exhibit 10.2

NOTE: PORTIONS OF THIS EXHIBIT INDICATED BY “[****]”
ARE SUBJECT TO A CONFIDENTIAL TREATMENT REQUEST, AND HAVE BEEN OMITTED FROM THIS EXHIBIT.
COMPLETE, UNREDACTED COPIES OF THIS EXHIBIT HAVE BEEN FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION AS PART OF THIS COMPANY’S CONFIDENTIAL TREATMENT REQUEST.

	 	 	 

	

	 	GE
	 

	Capital Solutions
	 
	 

	Commercial Distribution Finance
	 

	5595 Trillium Blvd.
	 

	Hoffman Estates, IL 60192
	 

	USA

PROGRAM TERMS LETTER

June 24, 2010

MarineMax, Inc.

MarineMax East, Inc.

MarineMax Services, Inc.

MarineMax Northeast LLC

Boating Gear Center, LLC

US Liquidators, LLC

Newcoast Financial Services, LLC

18167 US Highway 19 North

Suite 300

Clearwater, FL 33764

Attn: Mike McLamb

RE: Wholesale Marine Products Finance Program

Dear Mike:

This Program Terms Letter outlines the terms of your marine financing program with GE Commercial
Distribution Finance Corporation (“CDF”). This program will apply to all invoices financed by CDF
on or after June 24, 2010.

This Program Terms Letter supplements that certain Inventory Financing Agreement, dated as of June
24, 2010, among CDF and you (the “Inventory Financing Agreement”). Capitalized terms used but not
defined herein shall have the meanings assigned to them in the Inventory Financing Agreement.

The following sets forth the terms of your financing program:

A. Rates and Terms

	 	 	 

	Effective Program
Dates:

	 	Applies to all invoices financed by CDF on or after June 24, 2010.
	 
	 	 
	Subsidy Period:

	 	As determined by manufacturer program (if applicable).
	 
	 	 
	Eligible Products:

	 	New and pre-owned marine products, subject to a perfected first
priority Lien in favor of CDF and free and clear of all other
Liens not permitted by the Inventory Financing Agreement.
Consigned products shall be excluded unless you comply with CDF’s
documentation requirements with respect thereto and CDF otherwise
agrees in writing.

Program
Terms Letter 

 

NOTE: PORTIONS OF THIS EXHIBIT INDICATED BY “[****]”
ARE SUBJECT TO A CONFIDENTIAL TREATMENT REQUEST, AND HAVE BEEN OMITTED FROM THIS EXHIBIT.
COMPLETE, UNREDACTED COPIES OF THIS EXHIBIT HAVE BEEN FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION AS PART OF THIS COMPANY’S CONFIDENTIAL TREATMENT REQUEST.

	 	 	 

	Dealer Rate:

	 	The effective dealer interest rate for any month (after the manufacturer subsidy period
expires, if applicable) shall be the One month LIBOR rate (as defined in the Inventory
Financing Agreement) plus 3.78%.
	 
	 	 
	 

	 	Dealer Rate shall be the same for both new and pre-owned inventory.
	 
	 	 
	 

	 	The Dealer Rate will be recalculated monthly based on changes in the One month LIBOR
rate as outlined above.
	 
	 	 
	Unused Line Fee:

	 	Dealer will be charged a monthly Unused Line Fee in an amount equal to 0.10% multiplied
by the Unused Line, calculated based on the actual number of days in the calendar month
in a year of 360 days. Unused Line is the Maximum Credit Amount, minus the balance of
outstanding Obligations owed to CDF Affiliates as of the end of the applicable month,
minus the average daily balance of outstanding Obligations owed to CDF, plus the
average daily balance of the [****] (as defined below). Billed monthly.
	 
	 	 
	Maturity Period:

	 	Invoices financed for new inventory by CDF are considered due in full at 1081 days from
original invoice date. Invoices financed for pre-owned (trade in or used) inventory by
CDF are considered due in full at 361 days from the date Dealer acquires such unit
(“Acquisition Date”).
	 
	 	 
	Advance Request:

	 	Each advance with respect to pre-owned inventory or re-advance shall be made pursuant
to a completed written advance request in the form attached hereto as Exhibit A
(together with all attachments required thereby, an “Advance Request Form”) or such
other form as CDF and Dealers may agree.
	 
	 	 
	Floorplan Advance Rate:

	 	For new inventory (other than inventory financed by CDF in connection with the Initial
Advances), 100% of invoice amount, including freight (if included on original invoice).
For new inventory financed by CDF in connection with the Payoff Advance, such
percentage, as CDF and Dealers may agree in writing for each such unit of inventory, of
the result of (a) invoice amount, less (b) any curtailment amounts that would have been
required to be made with respect to such units if CDF had financed 100% of the original
invoice amount with respect to such units on or about the applicable invoice date. For
new inventory financed by CDF in connection with the [****], 100% of the result of (1)
invoice amount, less (2) any curtailment amounts that would have been required to be
made with respect to such units if CDF had financed 100% of the original invoice amount
with respect to such units on or about the applicable invoice date. In each case,
subject to the Maximum Credit Amount (as defined in the Inventory Financing Agreement).
	 
	 	 
	 

	 	Pre-owned (trade in or used inventory) advances will be as follows, subject to the
Maximum Credit Amount, the Pre-owned Inventory Sublimit, the Specific Pre-Owned
Sublimit, and the Other Pre-Owned Sublimit (each as defined in the Inventory Financing
Agreement):
	 
	 	 
	 

	 	75% NADA (based on low NADA Value) Day 1 (“Day 1” as used herein shall mean Acquisition
Date) through Day 180 (after Acquisition Date); 67% Day 181 (after Acquisition Date)
through Day 360 (after Acquisition Date); 0% Day 361+ (after Acquisition Date).
	 
	 	 
	 

	 	All models of pre-owned inventory are eligible provided fair market values can be

Program
Terms Letter 

 

NOTE: PORTIONS OF THIS EXHIBIT INDICATED BY “[****]”
ARE SUBJECT TO A CONFIDENTIAL TREATMENT REQUEST, AND HAVE BEEN OMITTED FROM THIS EXHIBIT.
COMPLETE, UNREDACTED COPIES OF THIS EXHIBIT HAVE BEEN FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION AS PART OF THIS COMPANY’S CONFIDENTIAL TREATMENT REQUEST.

	 	 	 

	 

	 	determined via NADA, Yachtworld.com, or survey. 

Internal condition and valuation methodology required on all units > $500,000.00
(“Specific Pre-Owned Items”). If valuation of any Specific Pre-Owned Item exceeds
[****], CDF advances in excess of [****] for such Specific Pre-Owned Item shall be in
CDF’s discretion.
	 
	 	 
	 

	 	Trade in units < $500,000.00 value will be financed on a “borrowing base” calculated
as the aggregate of the pre-owned advance rates multiplied by the applicable low NADA
Values of such pre-owned inventory.
	 
	 	 
	 

	 	Borrowing base certificate in the form attached hereto as Exhibit B required to be
submitted on the date hereof and monthly by the 5th day of the month based
on preceding month end balances of pre-owned inventory. Month-end borrowing base
certificate can be used to borrow up to 80% of eligible borrowing base for that
calendar month, subject to the Maximum Credit Amount, the Pre-Owned Inventory Sublimit
and the Other Pre-Owned Sublimit. Any request for advances > 80% of prior month-end
borrowing base requires submission of an updated borrowing base and such advances shall
be limited to 100% of updated borrowing base, subject to the Maximum Credit Amount, the
Pre-Owned Inventory Sublimit and the Other Pre-Owned Sublimit.
	 
	 	 
	 

	 	If eligible collateral on borrowing base is less than amount borrowed against
collateral, then immediate payment shall be required of amount sufficient to reduce
amount borrowed to amount of borrowing base.
	 
	 	 
	 

	 	If any unit (new or pre-owned) remains at a location other than a Permitted Location
for more than 30 days, then immediate payment shall be required of the full principal
amount of the Obligations owed with respect to such unit. If the aggregate value of
units at locations other than Permitted Locations (excluding boat shows) exceeds
$5,000,000.00 at any time, then immediate payment shall be required of the Obligations
with respect to such units in an aggregate amount equal to such excess. In addition,
if a material adverse change results in the reduction of the value of the Collateral in
an aggregate amount exceeding $250,000, then immediate payment shall be required of the
Obligations with respect to such Collateral in an amount equal to such excess; provided
that, if such reduction of value is the subject of an insurance claim payable to CDF as
loss payee, then immediate payment of such excess amount shall only be required to the
extent it exceeds the claim amount (net of any deductible) and payment of the remainder
of such excess shall not be required until the earlier of (i) receipt of such insurance
proceeds, if any, or the rejection or denial of such claim or any portion thereof and
(ii) 30 days (or such later date as CDF may agree in writing) after such loss or
damage.
	 
	 	 
	Concentration Limits:

	 	If the number of units of inventory (new and pre-owned) financed by CDF which have an
Outstanding Amount > $150,000.00 exceeds [****] of total number of units of
inventory financed by CDF, then immediate payment shall be required and applied to the
oldest units of such inventory financed by CDF to the extent required to reduce the
number of such units to [****] or less. “Outstanding Amount” means the outstanding
amount financed by CDF for such unit, minus any portion of the Required Amount (as
defined in the [****]) funded to the [****] with respect to curtailments for such unit.
For purposes of determining the concentration limits, units of inventory financed by
CDF shall include, without limitation, each unit of pre-owned inventory with a
valuation < $500,000.00 identified on the current borrowing base certificate.

Program
Terms Letter 

3

 

NOTE: PORTIONS OF THIS EXHIBIT INDICATED BY “[****]”
ARE SUBJECT TO A CONFIDENTIAL TREATMENT REQUEST, AND HAVE BEEN OMITTED FROM THIS EXHIBIT.
COMPLETE, UNREDACTED COPIES OF THIS EXHIBIT HAVE BEEN FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION AS PART OF THIS COMPANY’S CONFIDENTIAL TREATMENT REQUEST.

	 	 	 

	 

	 	If the number of units of inventory (new and pre-owned) financed by CDF which have an
Outstanding Amount > $750,000.00 exceed [****] of total number of units of inventory
financed by CDF, then immediate payment shall be required and applied to the oldest
units of such inventory financed by CDF to the extent required to reduce the number of
such units to [****] or less.
	 
	 	 
	Inventory Reporting:

	 	A monthly inventory certificate in the form attached hereto as Exhibit C or in such
other form as Dealers and CDF may agree, together with supporting documentation
requested by CDF, shall be required to be provided by the 5th day of each
month based on preceding month end balances. All inventory to be included (new,
pre-owned). To be provided on ad-hoc basis upon CDF request.
	 
	 	 
	Floorplan
Curtailments:

	 	Curtailment payments on invoices financed by CDF will be due pursuant to the following
schedule:
	 
	 	 
	 

	 	For new inventory, a curtailment payment of ten percent (10%) of the initial amount
financed is due and payable on each item of new inventory at each of the following
points in time: 181, 361, 541, 721 and 900 days from the date of the respective
original invoice and the full remaining balance of the advance is due and payable on
each item of inventory when it is aged 1080 days from the date of the original invoice.
	 
	 	 
	 

	 	For pre-owned (trade in or used) inventory < $500,000.00 low NADA value, a
curtailment payment of 8% of the initial NADA value is due and payable at day 181 after
the Acquisition Date; for pre-owned (trade in or used) inventory > $500,000.00 low
NADA value, a curtailment payment of 10% of the amount financed is due and payable at
day 181 after the Acquisition Date; and the advances with respect to all such items of
inventory will be due in full at day 361 after the Acquisition Date.
	 
	 	 
	 

	 	The failure to remit curtailment payments when due shall be considered a Default under
the terms of the Inventory Financing Agreement and any such late curtailment payments
shall be subject to interest at the Default Rate (as defined in the Inventory
Financing Agreement) until paid in full.
	 
	 	 
	[****]:

	 	[****] can be funded for [****] subject to cap on amount of [****] of [****]; [****]. 

1. Maximum of [****] removal of funds per week 

2. Maximum of [****] contributions of funds per week (unless otherwise needed for
minimum requirements) 

3. Not intended for direct application for unit payoffs
	 
	 	 
	Inventory Re-Advance Capability:

	 	New inventory may be paid down to a minimum floorplan balance of $1000.00 per unit;
permitted to re-advance up to maximum allowable advance rate (original invoice amount
less curtailments due or, if re-advance with respect to inventory financed by CDF as
part of the Initial Advances, less curtailments that would have been due if CDF had
financed the original invoice amount on or about the applicable invoice date) subject
to:
	 
	 	 
	 

	 	1. Request must aggregate at least $100,000.00 (refinance amount) 

2. Maximum ‘re-book’ advance is limited to 25% of Maximum Credit Amount within any 30
day period or, if [****] is terminated at CDF’s option, 50% of Maximum Credit Amount
within any 30 day period (such limit, the “Re-Advance Sublimit”)

Program
Terms Letter 

4

 

NOTE: PORTIONS OF THIS EXHIBIT INDICATED BY “[****]”
ARE SUBJECT TO A CONFIDENTIAL TREATMENT REQUEST, AND HAVE BEEN OMITTED FROM THIS EXHIBIT.
COMPLETE, UNREDACTED COPIES OF THIS EXHIBIT HAVE BEEN FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION AS PART OF THIS COMPANY’S CONFIDENTIAL TREATMENT REQUEST.

	 	 	 

	 

	 	3. Limited to [****] product 

4. Delivery of an Advance Request Form and certification of applicable inventory values
	 
	 	 
	Landlord Lien Waivers:

	 	If any Collateral is held at a location leased by you and you have not delivered to CDF
a landlord lien waiver or subordination in form acceptable to CDF, as an alternative,
you will be required to fund a reserve equal to 3 months of base rent, which will be
placed in the [****] as a “required” minimum amount. With respect to any existing
locations leased by you as of the date of this Program Terms Letter, such reserve shall
not be imposed until the 90th day after the date hereof.
	 
	 	 
	B. General Terms
	 	 
	 
	 	 
	Audit/Inspection Fees:

	 	Actual floorcheck expenses for inventory inspections. Annual Audit actual costs.
Pre-closing audit/floorcheck costs at actual costs.
	 
	 	 
	MSO’s/Titles:

	 	All Pre-owned titles and documentation must show all prior liens released.
	 
	 	 
	Inspection Frequency:

	 	Availability < 25%: 

50% of Total Inventory Cost to be verified monthly; all locations verified at least 1
time every 90 days
	 
	 	 
	 

	 	Availability >25%:

33% of Total Inventory Cost to be verified monthly; all locations verified at least 1
time every 120 days
	 
	 	 
	 

	 	and at any other time at CDF’s discretion
Availability % calculated 1- [(CDF Loan Balance — Required Amount under [****]) /
(Total Eligible Inventory * Advance Rates)]
	 
	 	 
	COMS Non-Usage Fee:

	 	Dealers will be charged $1,000 in the aggregate per month for any month during which
Dealers do not use the CDF COMS on-line payment system for Dealers’ primary method of
payment to CDF.
	 
	 	 
	Floorplan Admin. Fee:

	 	Waived.
	 
	 	 
	Late Payment Fee:

	 	Under the terms of your financing agreement with CDF, you are to remit payment to CDF
immediately upon the earlier of (i) your receipt of the proceeds of any sale or other
disposition of any unit of CDF’s financed collateral, and (ii) 7 calendar days after
such sale or other disposition. If it is discovered that a unit of collateral is sold
or otherwise disposed of without payment remitted to CDF (Sold out of Trust “SOT”),
whether as the result of an inventory collateral inspection or otherwise, CDF will
charge you the following late payment fee on a monthly basis for each SOT item:

	 	 	 	 	 	 	 

	 

	 	Day 1- 7 after the retail sale of the
unit
	 	On the 8th day after the
retail sale of the unit
	 
	 	 	 	 
	 

	 	$0.00	 	 	.25% of the outstanding invoice amount
per unit per month

	 	 	 

	NSF Fee:

	 	You will be charged a fee of $25 for each check or other item that is returned unpaid.

Program
Terms Letter 

5

 

Please note that the fees and charges referred to above such as the Default Rate, Late Payment Fee
and NSF Fee are not intended to be CDF’s sole remedies for those events, and if you fail to meet
any of your obligations under your agreements with CDF, CDF specifically reserves all other rights
and remedies legally available to it.

Customer Online Management System (COMS):

CDF encourages use of COMS, our Internet payment/floorplan system. CDF will assist you in the
installation of the system and provide you with training, free of charge. Internet payments are
processed via an ACH transaction and at no cost to you. You can view the system’s capabilities at
www.gecdf.com/coms.

Application of Terms:

	•	 	The terms set forth in this Program Terms Letter shall apply only to loans with
CDF, and will not apply to any other GE Commercial Distribution Finance platform or joint
venture (i.e. RV, Yamaha, Suzuki, Polaris Acceptance, Brunswick Acceptance Company, LLC, etc.)
or any loans with any CDF Affiliate (as defined in the Inventory Financing Agreement).

Confidentiality Agreement:

The rates and terms set forth in this letter are for your benefit and shall be held in the
strictest confidence by you; provided that you may disclose the terms hereof to the extent
required by applicable laws or regulations if you provide CDF with prior written notice of such
disclosure, work with CDF in good faith to redact any information herein requested by CDF, and
provide CDF with an opportunity to seek a protective order with respect to such information.
Subject to the foregoing, you will take all reasonable precautions to assure the confidentiality of
this information is not released to any third party.

PLEASE ACKNOWLEDGE YOUR ACCEPTANCE OF YOUR FINANCING TERMS AND RETURN TO BRUCE VAN WAGONER AT (847)
747-2002.

THANK YOU FOR THE OPPORTUNITY TO FINANCE YOUR INVENTORY NEEDS.

GE COMMERCIAL DISTRIBUTION FINANCE CORPORATION

					
	 	
 	 
	 	By:  	/s/
Waller Blackwell	 
	 	 	Name:  	Waller Blackwell	 
	 	 	Title:  	Wholesale
Risk Underwriting Leader	 

Program
Terms Letter 

 

	 	 	 	 	 

					
	 	

ACCEPTED AS OF JUNE 24, 2010:

MARINEMAX, INC.

 	 
	 	By:  	/s/ Kurt M. Frahn 	 
	 	 	Name:  	Kurt M. Frahn 	 
	 	 	Title:  	Vice President of Finance, Treasurer and Assistant Secretary 	 
	 
	 	MARINEMAX EAST, INC.

 	 
	 	By:  	/s/ Kurt M. Frahn 	 
	 	 	Name:  	Kurt M. Frahn 	 
	 	 	Title:  	Assistant Secretary 	 
	 
	 	MARINEMAX SERVICES, INC.

 	 
	 	By:  	/s/ Kurt M. Frahn 	 
	 	 	Name:  	Kurt M. Frahn 	 
	 	 	Title:  	Assistant Secretary 	 
	 
	 	MARINEMAX NORTHEAST, LLC

 	 
	 	By:  	/s/ Kurt M. Frahn 	 
	 	 	Name:  	Kurt M. Frahn 	 
	 	 	Title:  	Assistant Secretary 	 
	 
	 	BOATING GEAR CENTER, LLC

 	 
	 	By:  	MARINEMAX EAST, INC., the sole member of Boating Gear Center, LLC
 	 
	 	 	 	 

					
	 	
 	 
	 	By:  	/s/ Kurt M. Frahn 	 
	 	 	Name:  	Kurt M. Frahn 	 
	 	 	Title:  	Assistant Secretary 	 
	 

					
	 	

US LIQUIDATORS, LLC

 	 
	 	By:  	/s/ Kurt M. Frahn 	 
	 	 	Name:  	Kurt M. Frahn 	 
	 	 	Title:  	Assistant Secretary 	 
	 
	 	NEWCOAST FINANCIAL SERVICES, LLC

 	 
	 	By:  	/s/ Kurt M. Frahn 	 
	 	 	Name:  	Kurt M. Frahn 	 
	 	 	Title:  	Assistant Secretary 	 

Program
Terms Letter 

7

 

	 	 	 	 	 

Exhibit A

Advance Request Form

Program
Terms Letter —  Exhibit A 

A - 8

 

Exhibit B

Borrowing Base Certificate Form

Program
Terms Letter —   Exhibit B 

B - 1

 

Exhibit C

Monthly Inventory Certificate Form

Program
Terms Letter —   Exhibit C

C - 1exv10w1

Exhibit 10.1

AMENDED AND RESTATED LEASE

     THIS AMENDED AND RESTATED LEASE (this “Lease”) is made this 16th day of April, 2010 by and
between SOUNDVIEW FARMS, LLC, a limited liability company organized and existing under the laws of
the State of Connecticut, located in the City of Stamford, County of Fairfield in said state,
hereinafter called “Landlord” and GARTNER, INC. (f/k/a Gartner Group, Inc.), a corporation
organized and existing under the laws of the State of Delaware and having a place of business in
said Stamford, hereinafter called “Tenant”.

W I T N E S S E T H

     Landlord’s predecessor in interest, Soundview Farms, and Tenant entered into (i) that certain
Lease, dated as of December 29, 1994 (the “Buildings Lease”), whereby Soundview Farms
leased to Tenant certain land and the buildings and other improvements situated thereon; and (ii)
that certain Lease, dated as of March 26, 1997 (the “Parking Lease”), whereby Soundview
Farms leased to Tenant certain land adjacent to the premises under the Buildings Lease to be used
for parking purposes. The premises leased pursuant to the Buildings Lease and the Parking Lease
constitute the Leased Premises (as hereinafter defined).

     Landlord and Tenant desire to amend and restate the terms of both the Buildings Lease and the
Parking Lease in order to, among other things, set forth their agreement respecting the renovation
of the Leased Premises and extend the lease term.

     Landlord and Tenant hereby agree that the terms and provisions of this Lease shall amend,
restate and supersede the terms and provisions of both the Buildings Lease and the Parking Lease.

     NOW, THEREFORE, in consideration of the premises and the mutual covenants and conditions
herein contained, and other good and valuable consideration, the receipt and adequacy of which are
hereby acknowledged by the parties hereto, and intending to be legally bound thereby, Landlord and
Tenant by these presents do covenant and agree as follows:

     Landlord hereby leases to Tenant and Tenant hereby hires from Landlord the following four (4)
certain tracts of land situated in said Stamford:

     FIRST TRACT being known and designated as “Parcel 13, Area = 6.747 AC” on a certain map
entitled “Subdivision of Parcel 12, Map 11500 for Soundview Farms, Stamford, CT”, dated March 26,
1986, now on file in the office of the town clerk of said Stamford and numbered 11645, reference
thereto being had, together with the building thereon known as 56 Top Gallant Road (the “56
Building”), said Parcel 13 and 56 Building together being hereinafter called the “56
Premises”;

     SECOND TRACT being known and designated as “Parcel 9, Area = 5.810 AC” on a certain map
entitled “Subdivision Showing Parcel 9 for Sound View Farms, Stamford, CT”, dated May 14, 1980, now
on file in said town clerk’s office and numbered 10574, reference thereto being had, together with
the building thereon known as 88 Gate House Road (the “88 Building”), said Parcel 9 and 88
Building together being hereinafter called the “88 Premises”; and

 

 

     THIRD TRACT being known and designated as “Parcel 10, Area = 3.286 AC” on a certain map
entitled “Subdivision Showing Parcel 10 for Soundview Farms, Stamford, CT”, dated October 12, 1983,
now on file in said town clerk’s office and numbered 11202, reference thereto be had, together with
the building thereon known as 70 Gate House Road (the “70 Building”), said Parcel 10 and 70
Building together being hereinafter called the “70 Premises”.

     FOURTH TRACT being known and designated as “Parcel 12, Area = 2.106 AC” on a certain map
entitled “Subdivision of Parcel 12, Map 11500 for Soundview Farms, Stamford, CT”, dated March 26,
1986, now on file in said town clerk’s office and numbered 11645, reference thereto being had, said
Parcel 12 being hereinafter called the “Parking Lot”.

     Said 56 Premises, 88 Premises, 70 Premises and Parking Lot being hereinafter collectively
called the “Leased Premises”. Said 56 Building, 88 Building and 70 Building, each a
“Building”, and hereafter collectively called the “Buildings”. The Leased Premises
are leased together with an easement of way and use as appurtenant thereto for all lawful purposes
in, over and upon the roads, drives and rights of way to and from the Leased Premises to and from
the public highway (Landlord represents that Fairfield Avenue and a portion of Top Gallant Road as
shown on said map 11645 are public highways) and Top Gallant Road and Gate House Road; reserving to
Landlord for itself, its successors and assigns, in common with others to whom such right may have
been or may hereinafter be granted by Landlord, the right to use to all lawful purposes those
portions of the Leased Premises which lie within said roads, drives and rights of way, and also
within other portions thereof, as easements of way and use for the installation, repair,
replacement, maintenance and use of utility lines such as water, electric, storm sewer, sanitary
sewer, telephone and gas; reserving also to the Landlord for itself, its successors and assigns as
appurtenant to “Other Land of Soundview Farms” defined as the following parcels of land: Parcel 3
Map 9779 S.L.R.; Parcel 4 Map 9796 S.L.R.; Parcel 5 Map 9911 S.L.R.; Parcel 6 Map 110127 S.L.R.;
Parcel 7 Map 10145 S.L.R.; Parcel 8 map 10183 S.L.R.; Parcel 11 Map 11500 S.L.R.; the right to use
for easements of way and use for all lawful purposes that portion of Parcels 12 and 13 which lies
between the strip of land designated as “30’ wide drive” on said map 11645 and the zone boundary
line between the IP-D zone and RM-1 zone on said map; reserving also to the Landlord the right to
change the location of the rights of way, drives and roads shown on said maps outside the said
Leased Premises but no such change or changes of location shall deny, abridge or diminish any of
the rights hereinabove granted to Tenant and all of such changes shall be approved by the
appropriate authorities of the City of Stamford, including inter alia, appropriate
fire marshals and the like. None of the rights reserved to Landlord shall be used so as to
unreasonably interfere with Tenant’s use and enjoyment of the Leased Premises or with Tenant’s
rights herein granted, and if, in the event repairs, installations and/or maintenance by Landlord,
the Leased Premises or any part thereof or any of said rights are disturbed, they shall be restored
by Landlord to their prior and satisfactory condition.

     Said Leased Premises are subject to restrictions or limitations imposed or to be imposed by
governmental authority including, without limitation, the zoning and planning rules and regulations
of the City of Stamford and the zoning approvals specifically applicable to the 56 Premises, the 70
Premises, the 88 Premises and the Parking Lot to the extent that such zoning approvals do not
interfere with the use of the Leased Premises for office purposes and the Parking Lot for parking
purposes and the quiet enjoyment of the Leased Premises; grants to public utility and service
companies prior to the date hereof; grants from Landlord to the City of

2

 

Stamford of record prior to the date hereof; and the notes, symbols, and designations as shown
on said maps.

     TO HAVE AND TO HOLD, the Leased Premises unto Tenant for a term (as used herein, the
“term”) to commence on the date hereof and to expire on the last day of the calendar month
which occurs fifteen (15) years after the latest Construction Completion Date (as defined in
Article 5(A)) applicable to the 56 Building, the 88 Building and the 70 Building, or on such
earlier date by prior cancellation or termination pursuant to the provisions of this Lease, or on
such later termination date by extension of the Term of this Lease pursuant to the terms of this
Lease.

     IT IS HEREBY mutually covenanted and agreed between Landlord and Tenant as follows:

ARTICLE 1. LANDLORD’S REPRESENTATIONS.

     The Landlord represents and warrants to Tenant:

               (i) that Landlord is the sole owner in fee simple of the Leased Premises,

               (ii) that Landlord has the full right and authority to lease the Leased Premises and to
otherwise enter into this Lease on the terms and conditions set forth herein,

               (iii) that no approval or consent to this Lease of any party is required, except for consents
and approvals obtained on or prior to the date hereof,

               (iv) that Landlord is not in default of its obligations to any mortgagee or ground lessor and
Landlord is current in all its payments to any such mortgagee or ground lessor,

               (v) that the use of the Leased Premises, including, inter alia, the use for
any Specified Use (hereinafter defined) shall be permitted as a matter of right under current
Stamford zoning ordinances and will not breach any applicable covenant, condition, restriction or
easement affecting the Leased Premises,

               (vi) that Landlord has not received any notice of any condemnation proceeding with respect to
any portion of the Leased Premises and to the best of Landlord’s knowledge no proceeding is
contemplated by any governmental authority, and

               (vii) that the Leased Premises are free of all other tenancies, whether oral or written;
except tenancies to Tenant hereunder, and Tenant shall have sole and exclusive possession of the
Leased Premises from the commencement of the term regardless of whether Tenant in fact takes
occupancy of the entire Leased Premises.

ARTICLE 2. INTENTIONALLY OMITTED.

ARTICLE 3. INTENTIONALLY OMITTED.

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ARTICLE 4. TENANT’S IMPROVEMENTS

     Tenant shall perform the Tenant Improvement Work described on, and in accordance with the
terms set forth on, Exhibit A attached hereto and made a part hereof.

ARTICLE 5. RENT

     A. As used in this Lease, the following terms shall have the following definitions:

     “Construction Commencement Date” shall mean, for each Building, the latest of the
following dates: (i) the date a construction permit has been issued by the municipality with
respect to an item of Tenant Improvement Work to be performed in such Building; (ii) the date such
Building has been substantially vacated in preparation for construction; and (iii) the date that
Final Tenant’s Plans (as defined on Exhibit A) have been approved (or deemed approved) with
respect to the Tenant Improvement Work to be performed in such Building.

     “Construction Completion Date” shall mean, for each Building, the later of the
following dates: (i) the date the Tenant Improvement Work to be performed in such Building shall
have been completed in accordance with the terms of this Lease; and (ii) the date a permanent
certificate of occupancy has been issued by the municipality with respect to such Building (as such
Building contains the completed Tenant Improvement Work). Notwithstanding the foregoing and for
all purposes of this Lease, the Construction Completion Date for all Buildings shall occur no later
than June 1, 2012, subject to delays for force majeure causes (as described in Article 39) not to
exceed six (6) months in the aggregate.

     B. During the term hereof Tenant covenants to pay to Landlord for the Leased Premises an
Annual Basic Rent as follows: (i) for each of the 56 Building, the 88 Building and the 70
Building, from the date hereof through the day immediately preceding the applicable Construction
Commencement Date for each such building, the product of $15.00 multiplied by the Rentable Square
Footage of each such building, per annum (prorated for partial years); (ii) for each of the 56
Building, the 88 Building and the 70 Building, from the applicable Construction Commencement Date
for each such building through the day immediately preceding the applicable Construction Completion
Date for each such building, the product of $10.50 multiplied by the Rentable Square Footage of
each such building, per annum (prorated for partial years); and (iii) for each of the 56 Building,
the 88 Building and the 70 Building, from and after the applicable Construction Completion Date for
each such building, the product of $21.50 multiplied by the Rentable Square Footage of each such
building, per annum (prorated for partial years). Annual Basic Rent is payable in equal monthly
installments on the first day of each and every month, in advance, and shall be prorated for
partial months. The amount of Annual Basic Rent payable under clause (iii) of the first sentence
of this Article 5(B), shall be increased on each March 1 from and after March 1, 2013 by two
percent (2%). “Rentable Square Footage” shall mean, throughout the term of this Lease so
long as the footprint of the Building in question shall not have been substantially increased or
decreased, with respect to the 56 Building: 104,324 rentable square feet; with respect to the 88
Building: 62,650 rentable square feet; and with respect to the 70 Building: 46,941 rentable
square feet.

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     Notwithstanding the foregoing, if the aggregate amount of the Tenant Improvement Allowance (as
defined in Exhibit A) has not been distributed to Tenant pursuant to Article 4 on or prior
to the latest Construction Completion Date applicable to the 56 Building, the 88 Building and the
70 Building, the undistributed amount (the “Excess Amount”) shall be received as a rebate
of Annual Basic Rent due from Tenant hereunder such that the Excess Amount shall be fully amortized
in equal monthly installments over the initial term of this Lease, utilizing an interest rate of
seven percent (7%) per annum.

     All of said Annual Basic Rent payments shall be paid at the office of the Landlord, 66 Gate
House Road, Stamford, Connecticut or at such other place Landlord may designate by notice.

     C. Tenant covenants and agrees that all other amounts which Tenant assumes and agrees to pay
or discharge pursuant to this Lease, together with any fine, penalty, interest or cost which may
pursuant to the provisions of this Lease be added for late payment, if late payment is the fault of
the Tenant thereof, shall constitute additional rent hereunder and in case of failure of Tenant to
pay or discharge any of the foregoing, Landlord shall have all of the rights, powers and remedies
provided herein, or by law, in the case of nonpayment of Annual Basic Rent.

ARTICLE 6. TAXES AND UTILITIES.

     A. Tenant shall pay as additional rent all real estate taxes, assessments and charges levied
by any governmental authority upon the Leased Premises and personal property taxes levied against
Tenant’s leasehold improvements, as same may be defined by the City of Stamford, together with all
interest and penalties (imposed due to Tenant’s fault) thereon, or upon or against any Annual Basic
Rent or additional rent reserved or payable hereunder, or upon or against this Lease or the
leasehold estate hereby created, or the gross receipts from the Leased Premises, or the earnings
arising from the use thereof, other than (i) franchise, capital stock or similar taxes, if any, of
Landlord, or (ii) income, estate, excess profits or other similar taxes upon Landlord’s receipts,
and/or the receipts of any of the persons who are members of Landlord, if any (unless the taxes
referred to in clauses (i) and (ii) are in lieu of or a substitute for any other tax, assessment or
charge upon, or with respect to the Leased Premises which, if such other tax, assessment or charge
were in effect, would be payable by Tenant, in which event such taxes shall be computed as though
the Leased Premises were the only property of Landlord and/or of each such member and the Annual
Basic Rent payable hereunder the only income of Landlord and/or of each such member). Nothing
above is intended to require that Landlord and/or any of the persons who are members of Landlord
submit any more documentation than is necessary to support the receipts from the Leased Premises.
Landlord shall request that the proper governmental authority send all tax assessment and charge
bills to be paid by Tenant directly to the Tenant, but, if Landlord receives such a bill, it shall
forward same immediately to Tenant. Tenant shall pay said taxes, assessments and charges within
fifteen (15) days after the same becomes due and payable. Tenant shall notify Landlord of such
payment when made which notification shall include copies of the bills paid and evidence of
payment, so as to afford Landlord the opportunity to verify the payment. Notwithstanding the
foregoing, Tenant shall be deemed to have complied with the provisions of this Paragraph if payment
of said taxes, assessments and charges shall be made within any grace period allowed by law or by
the

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governmental authority imposing the same, during which payment is permitted without penalty or
interest.

     B. In the event any governmental authority shall hereafter levy taxes on the Leased Premises
which shall be for the purpose of providing services now provided by the municipality and for which
municipal real estate taxes are now levied (e.g. education); Tenant shall also pay as additional
rent that portion of such taxes which is attributable to such services to the extent the same are
in lieu of, or a substitute for, the aforesaid municipal real estate taxes.

     C. From and after the commencement of the term Tenant shall pay directly to any municipal
authority or to any public service company which shall furnish the same, all the charges for
sewage, water, gas, electricity or power consumed at or supplied to the Leased Premises, and,
subject to Landlord’s maintenance obligations, warranties and representations, will comply with all
public service and/or municipal authority requirements for the maintenance and continuation of said
services.

     D. To the extent that the same may be permitted by law, Tenant shall have the right to apply
for the conversion of any taxes or assessment in order to cause the same to be payable in
installments, and upon such conversion Tenant shall pay and discharge punctually said installments
as they shall become due and payable during the term and shall pay the balance of all such
installments applicable to the term of this Lease prior to the expiration of the term of the Lease.

     E. The customary adjustments and apportionments of real estate taxes, assessments and charges
shall be made between Landlord and Tenant as of the date of the expiration or earlier termination
of this Lease.

ARTICLE 7. USE OF PREMISES

     Tenant may use the Leased Premises for all lawful purposes that are permitted in accordance
with the zoning regulations of the City of Stamford and any exceptions thereto applicable to the
Leased Premises (the “Specified Use”).

ARTICLE 8. REPAIRS

     A. During the term of this Lease, Landlord shall, at its expense, in addition to any
obligations imposed upon Landlord under this Lease, make all repairs to (or damage resulting from
failure to make repairs to) the structural walls (bearing walls), including foundation of the
Buildings and the covered walkways, structural members such as steel columns, beams, floors, and
covered walkways, the parking areas (other than sealing, striping and curbing, but including the
repair of potholes) and any and all repairs to roofs, provided, however, that the Landlord shall
not be liable to make any such repairs which result from negligent or wrongful acts of Tenant, its
agents, visitors, servants and/or employees unless the need for such repair is caused by fire or
other casualty which is covered by insurance. Replacement of broken windows shall not be construed
as a structural repair for purposes of this Article. Landlord shall be liable for any damages
sustained by Tenant resulting from the failure of Landlord to make repairs for which Landlord is
responsible hereunder after notice to Landlord by Tenant of the need for such repairs and the lapse
of a period of time sufficient, with the exercise of reasonable diligence, for

6

 

the making of such repairs. Tenant shall have the right to make emergency repairs which are
the obligation of Landlord and to charge Landlord therefor, provided Landlord has had notice for
the need for such emergency repairs and failed to make same. Landlord shall undertake all repairs,
replacements and restorations of the Leased Premises in a manner that minimizes to the extent
reasonably practicable any interference with Tenant’s use or occupancy of or access to the Leases
Premises. In the event that as a result of such repairs, replacements or restorations of the
Leased Premises any portion of the Leased Premises becomes unsuitable for Tenant’s use or
occupancy, the Annual Basic Rent payable during the period of unsuitability shall be
proportionately abated.

     From and after (i) the first (1st) anniversary of the date hereof with respect to
the 88 Building, (ii) the third (3rd) anniversary of the date hereof with respect to the
56 Building and (iii) the fifth (5th) anniversary of the date hereof with respect to the
70 Building, and on or prior to each anniversary of the date hereof, Landlord shall cause the roof
of each of the 88 Building, the 56 Building and the 70 Building to be inspected by a maintenance
firm selected by Landlord and reasonably acceptable to Tenant, and shall cause such maintenance
firm to provide, within thirty (30) days of such inspection, a report specifying the condition of
each roof, as applicable, and setting forth any repair or replacement work required to maintain
same in good condition and repair, together with a reasonable schedule for completion of same.
Landlord shall perform and complete such repair and replacement work within the time frames set
forth in such schedule.

     B. The Tenant shall, at its own cost and expense, maintain the Buildings in good and safe
condition and in proper repair, other than the repairs which are the responsibility of the
Landlord, during the term hereof. The Tenant shall, at its own cost and expense, maintain the
heating and air conditioning systems, plumbing systems, painting, non-bearing walls, ceilings,
partitions, windows, doors and electrical systems in good and safe condition and in proper repair,
and sealing, striping and curbing of the parking areas on the Leased Premises, during the term
hereof, provided, however, that if any replacement cost in excess of $5,000 is typically
capitalized under generally accepted accounting principles, Tenant may elect (by delivering written
notice to Landlord) to (i) pay the cost thereof or (ii) cause the cost of such replacement to be
borne by Landlord, at its sole expense, and such cost shall then be amortized over the useful life
of such replacement, and Tenant shall be obligated to pay Landlord, as additional rent in each
subsequent year of the Lease, the annual amortized cost of such replacement. The Tenant shall keep
the Leased Premises in good order and condition, including, but not limited to, removing snow and
ice from walks and parking areas used by Tenant or its employees, invitees and agents.

     When used in this Lease, the term “repairs” shall include replacements or renewals, when
necessary. All repairs shall be at least equal in quality and class to the condition on the date
hereof.

     Tenant further covenants to maintain the exterior of the Leased Premises, including the
landscaping, but not limited to the trimming of bushes and mowing of lawn, subject to Landlord’s
obligations as aforesaid. In the event Tenant fails to so maintain the exterior of the Leased
Premises, Landlord reserves the right, upon reasonable notice to Tenant of the need for such
maintenance and the lapse of a period of time sufficient for the performance of such

7

 

maintenance, to enter thereon for the purposes of so maintaining the exterior of the Leased
Premises, whenever Landlord shall deem it necessary, and thereafter shall render a reasonable bill
to Tenant for the cost of undertaking such maintenance, which bill shall be paid within thirty (30)
days after it has been rendered.

     C. For the making of repairs hereunder, either party shall with respect to repairs to be made
by such party have the benefit of any net proceeds of any insurance policies in fact received as a
result of any event which necessitated such repairs. Any sum in excess of the amount required to
pay for such repairs shall belong to Tenant.

ARTICLE 9. CHANGES, ALTERATIONS AND IMPROVEMENTS

     A. Tenant shall not make any changes, alterations and improvements in the Leased Premises
which affect structure of the Buildings or the mechanical systems therein, without the written
consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed,
provided plans of any changes and/or additions to be made have been delivered to Landlord, and
provided further that, except where mandated by government action, such changes and/or additions
shall not reduce the fair market value of the Leased Premises below their fair market value
immediately prior to such changes and/or additions or impair the usefulness of the Leased Premises.
If Landlord claims that such changes and/or additions shall reduce the fair market value of the
Leased Premises below their fair market value immediately prior to such changes or impair the
usefulness of the Leased Premises and Tenant disagrees, then such disagreement shall be resolved by
an independent member of the American Institute of Appraisers chosen by Landlord and reasonably
acceptable to Tenant who shall have at least five (5) years’ experience in appraising commercial
property in Fairfield County, Connecticut. Tenant shall have the right to make any other changes,
alterations and improvements to the Leased Premises that do not affect the structure of the
Buildings or the mechanical systems therein, without Landlord’s consent therefor.

     B. Tenant shall have the right to select contractors, subcontractors, engineers, architects,
construction and project managers and other professionals to perform work in connection with any
changes, alterations and improvements to the Leased Premises; provided, however, that such
contractors, subcontractors, engineers, architects and other professionals shall first be approved
by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed.

     C. Landlord, at no cost to it, shall cooperate with Tenant’s efforts to obtain any permits or
certificates from governmental authorities required or desirable in connection with the making of
any changes, alterations and improvements to the Leased Premises.

     D. Landlord, at no cost to it, shall cooperate with Tenant’s efforts to obtain any
governmental incentives, including, without limitation, any financial assistance provided by the
State of Connecticut Department of Economic and Community Development, respecting its occupancy of
the Leased Premises or its making any changes, alterations or improvements thereto.

8

 

     E. Landlord shall not be entitled to any fees respecting any changes, alterations and
improvements by the Tenant to the Leased Premises, including, without limitation, supervisory or
review fees; provided, however, that Tenant shall reimburse Landlord for its reasonable,
out-of-pocket expenses incurred to third party professionals unaffiliated with Landlord for the
review of plans and specifications required under this Lease for any structural alterations sought
to be made by Tenant and for the supervising of such structural alterations, but such expenses
shall not include any costs or expenses payable to any mortgagee or ground lessor of Landlord, or
any professional engaged on such mortgagee’s or ground lessor’s behalf, said expenses being the
responsibility of Landlord.

     F. Tenant shall have the right, but not the obligation, to remove any changes, alterations or
improvements at any time prior to the expiration of the term of this Lease, provided that Tenant
repairs any damage to the Leased Premises caused by the removal thereof. Landlord shall waive any
priority to claim a lien, interest or other right in or to all of such changes, alterations or
improvements made by, or on behalf of, Tenant to the Leased Premises and the right to install same
on the Leased Premises; provided, however, that Tenant, its assignee and any person, corporation or
other entity installing such property shall agree to be liable for any and all damages to the
Leased Premises caused by or resulting from such installation or any removal thereof.

     G. The terms of Article 9(A), 9(B) and 9(F) shall not apply to the performance of the Tenant
Improvement Work, which shall be governed by the terms of Article 4.

ARTICLE 10. COMPLIANCE WITH LAWS, ETC.

     A. Subject to Landlord’s warranties and representations contained in the Lease, Tenant, at its
own cost and expense, shall comply with all laws and ordinances and the orders, rules, regulations
and requirements of any governmental agency which may be applicable to the Leased Premises
resulting from the Tenant’s use thereof.

     B. Subject to Landlord’s warranties and representations contained in the Lease, the Landlord
and Tenant shall be responsible, after the Construction Completion Date, for compliance with any
change in any law, regulation or rule which requires an alteration, addition or other change or
improvement to be made to the Leased Premises, as follows:

     If at any time during the term, or any extended term, of the Lease, any alteration, addition
or other change or improvement to the Leased Premises shall be required by reason of any change in
any law, regulation or rule (“Required Work”), Landlord shall obtain in good faith an
estimated cost (both hard and soft) for the construction of such Required Work from a reputable
contractor selected by Landlord and reasonably acceptable to Tenant. If the estimated cost is not
in excess of $1,000,000 and the compliance is required during the first ten years of the term, or
the first three years of any renewal term, the Landlord shall be obligated to complete the Required
Work and the Tenant shall be obligated to pay the cost of such Required Work by (i) reimbursing the
Landlord for the cost of such Required Work in equal monthly installments added to the Annual Basic
Rent payments set forth in Article 5 necessary to amortize such cost over the term of this Lease
utilizing an interest rate equal to the Required Rate (defined below), or (ii) paying the cost
directly.

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     If the estimated cost of the Required Work exceeds $1,000,000, or is required after the first
ten (10) years of the term or the first three (3) years of any extension term, Landlord shall be
obligated to commence the Required Work necessary to comply with such law, regulation or rule
promptly and perform same to completion exercising commercially reasonable diligence; provided,
however, that Landlord shall not be obligated to perform such Required Work if the time period
required to complete same exercising reasonable diligence (estimated in good faith by a contractor
reasonably acceptable to Landlord and Tenant) would extend beyond the expiration of the term of
this Lease (as the same may be extended in accordance herewith). Upon the completion of such
Required Work, if and only if such completion occurs during the term of this Lease, the Tenant
shall, at its option (i) pay for the Required Work or (ii) reimburse the Landlord for its share of
the cost of such Required Work, in accordance with the following formula:

     a) the actual total cost of construction of such Required Work, both hard and soft costs,
shall constitute the “Required Cost Base”; and

     b) the Landlord shall then obtain from a recognized lending institution reasonably acceptable
to Tenant the most favorable rate available under maximum mortgage financing secured by the Leased
Premises only, and without personal liability to the Landlord or its members, for financing the
Required Cost Base (the “Required Rate”), which Required Rate shall be the basis for a
constant which would completely amortize (in accordance with generally acceptable accounting
principles (GAAP)) the Required Cost Base by the payment of an annual sum made over the life of the
asset that is the subject of the Required Work, such annual sum (only to the extent applicable to
the remaining term of the Lease) to be an additional annual rent payment, which shall be payable,
commencing upon the completion of such Required Work, in equal monthly installments, and added to
the Annual Basic Rent payments provided in Article 5.

     In all cases, if the Tenant elects to reimburse the Landlord in equal monthly installments as
set forth above, it may prepay such obligation at any time, without penalty, and the Landlord shall
only receive the Required Rate through the actual date of repayment.

ARTICLE 11. NET LEASE; NON-TERMINABILITY

     A. This Lease is a net lease and the Annual Basic Rent, additional rent and other sums payable
hereunder by Tenant shall be paid, except as otherwise expressly provided herein, without notice or
demand.

     B. Except as otherwise expressly provided in this Lease, this Lease shall not terminate, nor
shall Tenant have any right to terminate this Lease, nor shall Tenant be entitled to the abatement
of any rent hereunder or any reduction thereof, nor shall the obligations of Tenant under this
Lease be affected, by reason of damage to all or part of the Leased Premises or the prohibition,
limitation or restriction of Tenant’s use of all or part of the Leased Premises, or the
interference with such use by any person, except Landlord or its agents, or anyone rightfully
claiming by, through or under Landlord, or for any other cause whether similar to or dissimilar
from the foregoing, any present or future law to the contrary notwithstanding, it being the
intention of the parties hereto that the obligations of Tenant hereunder shall be separate and
independent covenants and agreements, that the Annual Basic Rent, additional rent and other

10

 

sums payable by Tenant hereunder shall be payable in all events, and that the obligations of
Tenant hereunder shall continue unaffected, unless the requirement to, pay or perform the same
shall have been terminated or modified pursuant to an express provision of this Lease.

     C. The foregoing provisions of this Article 11 shall not modify or diminish Landlord’s
obligations under this Lease.

ARTICLE 12. ASSIGNMENT

     A. Except as otherwise provided in this Article 12, Tenant shall not assign this Lease or any
right or interest therein without the prior written consent of Landlord, which consent to
assignment Landlord shall not unreasonably withhold, condition or delay. It shall be a condition
of any assignment of Tenant’s interest in the Leased Premises which is permitted by this Lease that
the assignee shall execute an instrument in writing unconditionally assuming and agreeing to
perform and observe all covenants and conditions to be performed and observed by Tenant under this
Lease from and after the effective date of such assignment. Any assignment of this Lease by Tenant
hereunder (except to a subsidiary, affiliate or successor corporation (as each are defined below)
of Tenant) shall not include Tenant’s rights under Article 43 hereof (the option to purchase the
Leased Premises). Upon execution of such instrument and the delivery to Landlord thereof, together
with a true and complete copy of the instrument of assignment, Tenant shall be released from all
liabilities and obligations under this Lease, so long as (i) the Lease is being assigned with
respect to at least one (1) or more of the Buildings comprising the Leased Premises and (ii) the
assignee has a tangible net worth equal to or exceeding the lesser of (x) Tenant’s tangible net
worth at the time of transfer and (y) Tenant’s tangible net worth on the date hereof; provided,
however, that in the event of a partial assignment of this Lease (with respect to less than all of
the Buildings comprising the Leased Premises), Tenant shall only be released with respect to
liabilities and obligations relating to the portion of the Leased Premises being assigned. If the
conditions set forth in the immediately preceding sentence have not been satisfied, Tenant shall
not be so released. For purposes of this Article 12 and except as hereinabove contained, the sole
criteria upon which Landlord may base its decision to grant or deny its consent to any assignment,
which are separate and independent from the conditions required for Tenant’s release as aforesaid,
shall be as follows: (i) the use to be made of the Leased Premises by the proposed assignee, and
(ii) the financial strength of the proposed assignee. With respect to any request by Tenant for
Landlord’s consent to any proposed assignment, the failure by Landlord to notify Tenant of
Landlord’s decision with respect to any such request within thirty (30) days after receipt of the
following shall be deemed to be consent to same, provided Tenant’s request shall include: a
written statement setting forth the identity of the assignee, the use to which the assignee
proposes to occupy the Leased Premises, the most recent year-end financial statements of the
assignee, together with such other financial information as Landlord may reasonably deem relevant.

     B. Tenant, and its successors and assigns, shall have the unrestricted right to sublet the
Leased Premises, in whole or in part, but only for a term or terms which shall expire prior to the
expiration of the term of this Lease or any renewal hereof, and provided that each such sublease
shall be subject and subordinate to the rights of Landlord hereunder.

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     C. Tenant shall not mortgage or pledge this Lease, or any right or interest therein, without
the prior written consent of Landlord, which consent Landlord shall not unreasonably withhold or
delay. Landlord agrees that if such a lien holder shall give written notice to Landlord of its
name and address, together with a copy of the instrument under which such lien holder acquired an
interest in the Lease, then Landlord, in the event of Tenant’s default, shall give notice to such
holder at said address when any notice of default is given to Tenant and shall permit such holder
(i) to cure any default of Tenant hereunder and (ii) to enter into a direct lease with Landlord for
the remainder of the term of this Lease on the same terms as those set forth in this Lease.

     D. Tenant may, without Landlord’s written consent, permit any corporations or other business
entities which control, are controlled by, or are under common control with Tenant (“Related
Corporations”) to use or occupy the whole or any part of the Leased Premises for any of the
purposes permitted to Tenant. Such use or occupancy shall not be deemed to vest in any such
Related Corporation any right or interest in this Lease or in the Leased Premises, nor shall such
use or occupancy release, discharge or modify any of Tenant’s obligations hereunder.

     E. Tenant may, upon written notice to Landlord but without Landlord’s written consent, assign
or transfer its entire interest in this Lease and the leasehold estate hereby created or sublet the
whole or any part of the Leased Premises on one or more occasions to a “subsidiary” or “affiliate”
of Tenant or to a “successor corporation” of Tenant, as such terms are hereinafter defined. A
“subsidiary” of Tenant shall mean any corporation or other business entity not less than
50% of whose outstanding voting stock or beneficial interests shall at the time be owned, directly
or indirectly, by Tenant or by one or more of its subsidiaries. An “affiliate” of Tenant
shall mean any corporation or other business entity which, directly or indirectly, controls or is
controlled by or is under common control with Tenant. A “successor corporation” shall mean
(i) a corporation or other business entity into which or with which Tenant, or its corporate
successors or assigns, is merged or consolidated, in accordance with applicable statutory
provisions for the merger or consolidation of corporations or other business entities, provided
that by operation of law or by effective provisions contained in the instruments for merger or
consolidation the liabilities of the corporations or business entities participating in such merger
or consolidation are assumed by the corporation or business entity surviving such merger or
consolidation; or (ii) a corporation or other business entity acquiring this Lease and the Leased
Premises hereby demised, the good-will and all or substantially all of the other property and
assets of Tenant or its corporate successors or assigns, and assuming all or substantially all of
the liabilities of Tenant or its corporate successors or assigns; or (iii) any successor to a
successor corporation or business entity becoming such by either of the methods described above in
clauses (i) and (ii). Acquisition by Tenant, or its corporate successors or assigns of a
substantial portion of the assets, together with the assumption of all or substantially all the
obligations and liabilities of any corporation or business entity, shall be deemed a merger of such
corporation or business entity into Tenant for purposes of this section. Notwithstanding any
assignment, transfer or assumption of any obligations by a subsidiary, affiliate or successor
corporation, under this Section E, as the case may be, Tenant shall, to the extent it legally
exists, remain liable for the performance of all the terms, conditions and covenants of this Lease,
unless Landlord agrees to the contrary in writing.

ARTICLE 13. INSURANCE

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     A. Tenant shall at all times after the commencement date maintain with respect to the Leased
Premises insurance of the following character:

          1. REAL PROPERTY: Against the perils of “all risk of physical loss or damage” in an amount
not less than one hundred (100) percent of the insurable replacement cost, and additional coverages
and/or endorsements and/or forms providing for “Agreed Amount”, “Contingent Liability from
Operation of Building Laws”, “Demolition and Increased Time to Rebuild” endorsement, and “Increased
Cost of Construction” endorsement. Deductibles, if any, are to be clearly shown on policies and/or
certificates and if there is no deductible the policy shall so state.

          2. COMPREHENSIVE GENERAL LIABILITY: Provide a combined single limit for personal injury and
property damage of Five Million (5,000,000) Dollars.

          3. EXPLOSION: Provide explosion insurance with respect to any boiler or similar apparatus
located on the Leased Premises, in an amount of Five Hundred Thousand (500,000) Dollars.

          4. RENTAL VALUE: Provide rental value insurance payable in case of loss caused by a peril
against which insurance is required to be maintained under Article 13(A)(1) in an amount not less
than the Annual Basic Rent becoming due hereunder during the twelve month period following any
damage or destruction.

     B. All policies and/or certificates of insurance shall be effected under valid and enforceable
policies issued by insurance companies of recognized responsibility and authorized to conduct an
insurance business in the State of Connecticut.

     C. All policies and/or certificates of insurance shall provide for a 30-day written notice of
cancellation to Landlord and Tenant; provide for a waiver of subrogation against all assured
thereunder clause, and name Landlord as an additional named insured as its interest may appear and,
where applicable, shall name any mortgagee of Landlord’s interest in the Leased Premises, as its
interest may appear.

     D. Tenant shall adjust with the insurance company any loss under any policy of insurance
maintained by it; provided, however, that Landlord shall have a prior right to approve an
adjustment reached between Tenant and the insurance company under a policy required by Article
13(A)(1) or 13(A)(3), which approval shall not be unreasonably withheld, conditioned or delayed.

     E. Tenant shall deliver to Landlord, prior to the term hereof, original or duplicate
certificates of insurance reasonably acceptable to Landlord evidencing all the insurance which is
then required to be maintained by Tenant hereunder. Tenant shall, within thirty (30) days prior to
the expiration of any such insurance, deliver the original or duplicate certificates of insurance
reasonably satisfactory to Landlord evidencing the renewal of such insurance. Should Tenant fail
to effect, maintain or renew any insurance provided for in this Article 13 or to pay the premium or
deliver the certificates, Landlord, at its option, but without obligation so to do, may procure
such insurance, and any sum expended by it to procure such insurance shall be repaid by Tenant on
demand of Landlord, as additional rent.

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     F. Tenant shall have the right to carry out any insurance required under this Article in
umbrella policies or blanket policies, provided, however that any such insurance in blanket form
must contain a provision for the payment for real estate loss before other property loss, and
provided further, the terms of subparagraph E above are complied with.

     G. Landlord shall at all times maintain insurance with respect to the private roadways owned
by Landlord in the vicinity of the Leased Premises (and including portions of the Leased Premises
contained therein) in amounts and of quality equal to that being commonly carried by prudent owners
of comparable office parks in Stamford, Connecticut, and name Tenant as an additional insured as
its interest may appear and, where applicable, shall name any leasehold mortgagee of Tenant’s
interest in the Leased Premises, as its interest may appear.

     H. Except where specifically provided in this Lease, Landlord and Tenant hereby each release
the other from any and all liability or responsibility (to the other or anyone claiming through or
under them by way of subrogation or otherwise) for any loss or damage to property caused by fire or
any of the extended coverage or supplementary contract casualties, even if such fire or other
casualty shall have been caused by the fault or negligence of the other party, or anyone for whom
such party may be responsible without limiting the foregoing, each of Landlord’s and Tenant’s
policies of insurance shall contain a clause or endorsement to the effect that such releases are
accepted by the insurers and such releases shall not adversely affect or impair said policies or
prejudice the right of the releasor to recover thereunder. Each of Landlord and Tenant agrees that
its policies will include such a clause or endorsement so long as the same shall be obtainable
without extra cost, or if extra cost shall be charged therefor, so long as the other party pays
such extra cost. If extra cost shall be chargeable therefor, each party shall advise the other
thereof and of the amount of the extra cost, and the other party, at its, election, may pay the
same, but shall not be obligated to do so. Nothing herein contained is intended to affect
Landlord’s and Tenant’s respective obligations to repair, replace or rebuild as provided in this
Lease or to maintain the amount of insurance contained in this Article.

ARTICLE 14.  DAMAGE OR DESTRUCTION

     A. If the Leased Premises or parts thereof shall be damaged or destroyed, Tenant shall
promptly give notice to Landlord of such damage or destruction, generally describing the nature and
extent of such damage or destruction.

     B. If any portion of the occupied square footage of a Building on the Leased Premises shall be
rendered untenantable in connection with damage by fire or other casualty, or any cause covered by
the insurance required to be carried by Tenant hereunder, provided Tenant has maintained the
insurance required in Article 13, Tenant shall be entitled to the insurance proceeds therefor and
shall repair the damages at its expense and the Annual Basic Rent, from the date of such casualty
until such repairs shall be made, shall be equitably apportioned according to the part of the
Building which is usable by Tenant. If one (1) or more Buildings are totally destroyed or
materially damaged such that Tenant’s contractor in good faith estimates that the repair thereof
will require more than nine (9) months to repair, Tenant shall have the right to elect to terminate
the Lease as to said damaged Building(s) or as to the entire Leased Premises (if said damaged
Building is the 56 Building) by notice to Landlord delivered within sixty (60) days of the date of
Tenant’s receipt of such contractor’s estimate and the Lease terms shall be adjusted

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accordingly. If Tenant does not timely elect to terminate the Lease pursuant to the preceding
sentence, Tenant shall repair the damages at its expense as required above. If Tenant does timely
elect to terminate the Lease as provided above, Tenant shall assign to Landlord the insurance
claims and proceeds relating to the casualty in question and shall pay to Landlord the amount of
any deductibles payable under the insurance policies covering such casualty.

ARTICLE 15.  MECHANICS LIENS

     If any mechanic liens shall have been filed against the Leased Premises based upon any act of
Tenant or anyone claiming through Tenant, Tenant, after twenty (20) days notice thereof, shall
forthwith take such action by bonding, deposit, payment or otherwise as will remove or satisfy such
lien. Should Tenant fail to so remove or satisfy such lien, Landlord at its option, but without
obligation so to do, may take such action, and any sums expended by it, including reasonable
attorneys’ fees, shall be repaid by Tenant on demand of Landlord.

ARTICLE 16.  CONDEMNATION

     A. If either party shall learn of the possible condemnation of the whole or any part of the
Leased Premises it shall promptly notify the other party thereof.

     B. Any award or payment by reason of any taking shall belong to Landlord. Tenant may make a
separate claim for its trade fixtures, moving expenses and loss of business.

     C. In the case of taking of a portion of any Building or its parking area, which taking
renders the remainder of such Building or parking area unsuitable for the use of Tenant as
theretofore carried on (unless, in the case of the taking of a parking area, Landlord shall arrange
to provide Tenant with additional parking to compensate for the loss of the parking area within
five hundred (500) feet of the Leased Premises), Tenant shall have the right to elect to terminate
the Lease as to said Building(s) or as to the entire Leased Premises (if said condemned Building is
the 56 Building) by notice to Landlord and the Lease terms shall be adjusted accordingly. The
determination of unsuitability shall be by mutual agreement of the parties, or by arbitration if
they cannot agree.

     D. If this Lease has not been terminated as to the portion of the Leased Premises remaining
after the taking, a just proportion of the Annual Basic Rent shall abate during such period from
the date of the taking if and to the extent that Tenant shall be deprived of possession of any
Building and for such period of restoration that Tenant is so deprived of possession. Thereafter,
a just proportion of the Annual Basic Rent shall be abated according to the nature and extent of
the part of the Building acquired or condemned for the balance of the term of this Lease. Any
dispute as to what constitutes a just proportion herein shall be subject to arbitration as herein
provided.

     E. Landlord shall at its cost and expense, promptly commence and complete restoration of the
Leased Premises to as nearly as practicable their condition and utility immediately prior to the
taking, except for any reduction in area caused by the taking.

ARTICLE 17.  TENANT’S TRADE FIXTURES

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     Tenant’s trade fixtures, as defined below, shall remain the property of Tenant and may be
removed in whole or in part by Tenant, at its discretion, at any time and from time to time during
the term of this Lease. Upon the expiration or earlier termination of this Lease, Tenant shall
remove Tenant’s trade fixtures, if any, from the Leased Premises. Tenant, at its own expense,
shall repair any damage to the Leased Premises caused by such removal.

     The words “Tenant’s trade fixtures” or words of similar import as used in this Lease
shall be construed to mean: all signs, furniture, furnishings, machinery, equipment and other
personal property installed or placed in or on the Leased Premises, after completion of the Tenant
Improvement Work as provided in Article 4, by Tenant in connection with the operation of its
business thereat, whether or not permanently attached to the realty. Upon request of Tenant or
Tenant’s assignees, Landlord shall waive any priority to claim a lien, interest or other right in
or to Tenant’s trade fixtures and the right to install same on the Leased Premises, provided,
however, that Tenant, its assignee and any person, corporation or other entity installing such
property shall agree to be liable for any and all damages to the Leased Premises caused by or
resulting from such installation or any removal thereof; and, provided further that when Tenant or
its assigns vacate the Leased Premises, said trade fixtures shall be immediately removed or any
waiver of priority shall terminate.

ARTICLE 18.  SIGNS

     Subject to the prior written consent of Landlord and any applicable municipal regulations,
which consent of Landlord shall not be unreasonably withheld, conditioned or delayed, Tenant shall
have a right to erect signs on said Leased Premises. Tenant shall have the right to pursue, and
Landlord shall cooperate with Tenant in its efforts to obtain, any variances of local laws, rules
or regulations required to erect the signage on the Leased Premises desired by Tenant.

ARTICLE 19.  INDEMNITY

     A. During the term hereof Tenant shall protect, save and keep Landlord harmless and
indemnified against and from any loss, costs, damage or expense arising out of or from any accident
or other occurrence on the Leased Premises causing injury or damage to any person or property due
to any act or neglect of Tenant, its agents or employees, or failure to comply with and perform any
of the requirements and provisions of this Lease on its part to be performed, or due to any use
made by Tenant on the Leased Premises; and Tenant shall, at its own cost and expense, defend and
indemnify Landlord against all claims based upon death, damage or injury to persons or damage to
property while on the Leased Premises, during the entire term of this Lease, provided, however,
that Landlord shall protect, save and keep Tenant harmless and indemnified against and from, and
any agreement of indemnity by Tenant shall not apply to, any loss, cost, damage or expense arising
out of or from any accident or other occurrence on the Leased Premises causing injury or damage to
any person or property, due to any act or neglect of Landlord, its agents or employees, or failure
to comply with and perform any of the requirements and provisions of this Lease on its part to be
performed.

     B. Landlord shall defend, indemnify and hold Tenant harmless from and against any and all
claims, demands, liabilities and expenses, including reasonable attorney fees arising

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from: (i) the negligence or wrongful act of Landlord, its agents, employees or contractors;
(ii) any breach of this Lease by Landlord; and (iii) any violation by the Leased Premises of
applicable law, including Environmental Law, prior to Tenant’s original occupancy thereof; provided
that Landlord’s obligation under this subparagraph shall not be affected to the extent such claims,
damages, liabilities and expenses (x) arise out of or relate to the negligence or wrongful act of
Tenant, its agents, employees or representatives or (y) relate to losses typically covered by
casualty insurance.

     C. Notwithstanding anything contained in this Lease to the contrary, for purposes of Tenant’s
obligations under Article 8, Article 10 and this Article 19, the term “Leased Premises” shall not
include any portion of the Leased Premises which lies within a traveled way used in common with
Landlord and others, unless the need for repair or loss, cost, damage or expense is directly due to
an act or neglect of Tenant, its agents or employees.

ARTICLE 20.  ADVANCES BY THE LANDLORD; ENTRY BY THE LANDLORD

     A. If Tenant shall fail to make or perform any payment or act on its part required to be made
or performed under this Lease, within the periods of time permitted herein, Landlord may, but shall
not be obligated to, upon reasonable notice to Tenant and without waiving any default or releasing
it from any obligation, make such payment or perform such act for the account and at the cost and
expense of Tenant. All sums so paid by Landlord and all necessary and incidental costs and
expenses (including reasonable attorneys’ fees and expenses) incurred in connection with the
performance of any such act by Landlord, together with interest at a rate two (2) percent per annum
over the prime rate reported in the “Money Rates” column of The Wall Street Journal or in any
successor column, from the date of the making of such payment or of the incurring of such costs and
expenses shall be payable by Tenant on demand of Landlord.

     B. Landlord and its authorized representatives shall have the right to enter upon the Leased
Premises at all reasonable times, upon reasonable notice during normal working hours, with minimal
interruption to Tenant and its business, for the purpose of (1) inspecting the Leased Premises, (2)
performing any act required under Article 8 so long as the terms of such Article are complied with,
and (3) showing the Leased Premises to prospective purchasers or mortgagees, or within twelve (12)
months prior to the expiration of the term of this Lease, prospective tenants. No such entry shall
constitute an eviction of Tenant.

     C. If at any time a dispute shall arise as to any amount or sum of money to be paid by one
party to the other under the provisions hereof, the party against whom the obligations to pay the
money is asserted shall have the right to make payment “under protest” and such payment shall not
be regarded as a voluntary payment, and there shall survive the right on the part of said party to
institute arbitration for the recovery of such sum, and if it shall be adjudged that there was no
legal obligation on the part of said party to pay such sum or any part thereof, said party shall be
entitled to recover (in the manner provided in Subparagraph A above) such sum or so much thereof as
it was not legally required to pay under the provisions of this Lease, together with interest at a
rate two (2) percent per annum over the prime rate reported in the “Money Rates” column of The Wall
Street Journal or in any successor column.

ARTICLE 21.  TENANT’S DEFAULT

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     A. If, at any time during the term of this Lease, subject to existing bankruptcy laws, as the
same may be amended from time to time, (1) Tenant shall file in any court a petition in bankruptcy
or insolvency or for reorganization (other than a reorganization not involving the insolvency of
Tenant), or arrangement, or for the appointment of a receiver or trustee of all or a portion of
Tenant’s property, or (2) Tenant shall make a general assignment for the benefit of creditors, or
(3) Tenant shall be adjudicated as bankrupt by any court; then this Lease shall terminate ipso
facto upon the happening of such contingency, and Tenant shall then quit and surrender the Leased
Premises to Landlord. The word “Tenant” as used in this Article shall be deemed to mean Tenant
herein or in the event that this Lease shall have been assigned, such word shall be deemed to mean
only the assignee in possession of the Leased Premises. In any event, the liability of Tenant
shall continue as provided in this Lease, provided, however, that if Tenant had assigned this Lease
Landlord will allow Tenant, if legally permitted to do so, to occupy the Leased Premises upon
compliance with all terms of this Lease including but not limited to the payment of all overdue
rent.

     B. After the same shall become due and payable, if Tenant shall be in default in the payment
of Annual Basic Rent or additional rent or insurance premiums for more than twenty (20) days after
notice by Landlord, then Landlord may, at its election, terminate this Lease; provided, however,
that in the event that Tenant shall have received any such Landlord’s notice twice within any
consecutive twelve (12) month period, then Landlord may, at its election, terminate this Lease if
Tenant shall thereafter fail to pay any installment of Annual Basic Rent or additional rent or
insurance premiums for more than fifteen (15) days following the due date thereof.

     C. If Tenant shall be in default in the performance of any of the other covenants, terms and
conditions of this Lease, Landlord may give Tenant sixty (60) days notice in writing specifying the
default and requiring it to be remedied. If, at the expiration of said sixty (60) days, the
default which is the basis of such notice shall not have been remedied (or if such default cannot
be remedied within such period of sixty (60) days, if Tenant shall not have commenced the remedy
thereof within such period of time and shall not be proceeding with due diligence to remedy it),
Landlord, at its election, may terminate this Lease on fifteen (15) days’ written notice. to such
effect.

     D. In the event this Lease shall terminate pursuant to Sections A, B or C of this Article,
Landlord shall be entitled to recover forthwith from Tenant, as liquidated damages or otherwise, an
amount equal to the maximum allowed by any statute or rule of law in effect at the time when and
governing the proceedings in which such damages are to be proved. In determining the rental value
of the Leased Premises, the rental realized by any bona fide reletting shall be deemed prima facie
evidence of such rental value. Landlord shall make every reasonable effort to relet the Leased
Premises.

     E. After such termination Landlord may re-enter the Leased Premises and have and possess the
same as of Landlord’s former estate, and without such re-entry may recover possession thereof in
the manner prescribed by the statute relating to summary process, without any compliance with
statutory notice to quit, which is specifically waived.

ARTICLE 22.  ADDITIONAL RIGHTS OF PARTIES

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     A. No right or remedy herein conferred upon or reserved to Landlord or Tenant is intended to
be exclusive of any other right or remedy, and every right and remedy shall be cumulative and in
addition to any other right or remedy given hereunder or now or hereafter existing at law. The
failure of Landlord or Tenant to insist at any time upon the strict performance or observance of
any covenant or condition or to exercise any right, power or remedy under this Lease shall not be
construed as a waiver or relinquishment thereof for the future. The receipt by Landlord of any
Annual Basic Rent, additional rent or other amounts payable hereunder with knowledge of the breach
of any covenant or agreement in this Lease shall not be deemed a waiver of such breach, and no
waiver by Landlord or Tenant of any provision of this Lease shall be deemed to have been made
unless expressed in writing by Landlord or Tenant, as the case may be.

     Landlord or Tenant shall be entitled to the extent permitted by applicable law, to injunctive
relief in case of the violation or attempted or threatened violation of any covenant, agreement,
condition or provision of this Lease or to a decree compelling performance of any covenant,
agreement, condition or provision of this Lease, or to any other remedy allowed by law.

     B. If either party shall be in default in the performance of any of its obligations under this
Lease, the defaulting party shall pay to the other party the expenses incurred in connection
therewith, including reasonable attorneys’ fees and expenses. If either party shall without fault
on its part be made a party to any litigation commenced against the other, and if the party against
whom the action is commenced shall not provide the other with counsel reasonably satisfactory to
it, the party against whom the action is commenced shall pay all costs and reasonable attorneys’
fees and expenses incurred or paid by the other in connection with such litigation.
Notwithstanding the above, counsel provided by an insurance carrier shall be considered reasonably
satisfactory unless such counsel shall refuse to act for the party.

     C. Notwithstanding anything to the contrary contained herein, neither party shall be liable
for any consequential, special or punitive damages suffered by the other party as a result of the
former party’s default hereunder or negligence.

ARTICLE 23.  NOTICES, DEMANDS AND OTHER INSTRUMENTS

     All notices demands, consents, approvals, requests or other communications required or
permitted to be given pursuant to this Lease or pursuant to law (“Notices”) shall be in
writing and shall be sent by one of the following means: (i) hand delivery with written receipt
(unless the recipient refuses to give a receipt), (ii) United States certified mail, postage
prepaid, return receipt requested, or (iii) Federal Express or another nationally recognized
overnight express delivery service. Notices to Landlord shall be directed to Landlord at 66 Gate
House Road, Stamford, Connecticut 06902. Notices to Tenant shall be directed to Tenant at 56 Top
Gallant Road, Stamford, Connecticut 06902, Attention: General Counsel. Landlord and Tenant shall
each have the right, from time to time, to specify, as its address for purposes of this Article,
any other address in the United States upon giving notice thereof to the other party. Notices
given by hand delivery shall be deemed given at the time of delivery. Notices given by Federal
Express or such other overnight express service shall be deemed given one business day after
deposit with

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the express company prior to its deadline for overnight delivery. Notices given by U.S.
certified mail shall be deemed given three business days after deposit with the U.S. Postal
Service.

ARTICLE 24.  JURY WAIVER

     Landlord and Tenant hereby waive trial by jury in any action, proceeding or counterclaim
involving any matter whatsoever arising out of or in any way connected with this Lease, the
relationship of Landlord and Tenant, Tenant’s use or occupancy of the Leased Premises, the right to
any statutory relief or remedy, or any claim or injury or damage.

ARTICLE 25.  SURRENDER

     Upon the expiration or earlier termination of this Lease, Tenant shall surrender the Leased
Premises to Landlord in good order, condition and repair, ordinary wear and tear and damage by the
elements, any other cause beyond Tenant’s reasonable control, and Landlord’s uncorrected
responsibilities excepted, and, in the case of termination pursuant to Article 16, the condemned
portion excepted. Tenant, upon thirty (30) days notice to Landlord, shall remove from the Leased
Premises on or prior to such expiration or earlier termination Tenant’s trade fixtures (as defined
in Article 17), if any, situated thereon, and at Tenant’s cost and expense shall repair any damage
caused by such removal. Tenant’s trade fixtures not so removed shall become the property of
Landlord, who may thereafter cause such property to be removed from the Leased Premises and
disposed of, but the cost of any such removal and disposition as well as the cost of repairing any
damage caused by such removal shall be borne by Tenant.

ARTICLE 26.  BROKER

     Each of Landlord and Tenant represents and warrants to the other that it has not dealt with
any broker in connection with this Lease other than Cushman & Wakefield of Connecticut, Inc. (the
“Broker”) and that, to the best of its knowledge and belief, no other broker, finder or
like entity procured or negotiated this Lease or is entitled to any fee or commission in connection
herewith. Each of Landlord and Tenant shall indemnify, defend, protect and hold the other party
harmless from and against any and all claims, liabilities, losses, costs, damages and expenses
which the indemnified party may incur by reason of any claim of or liability to any broker, finder
or like agent (other than Broker) arising out of any dealings claimed to have occurred between the
indemnifying party and the claimant in connection with this Lease, or the above representation
being false. Landlord shall be responsible for the commission due and payable to Broker pursuant
to a separate agreement. The provisions of this Article 26 shall survive the expiration or earlier
termination of this Lease.

ARTICLE 27.  SEPARABILITY

     Each covenant and agreement in this Lease shall be construed to be a separate and independent
covenant and agreement. If any term or provision of this Lease or any application thereof shall be
invalid or unenforceable, the remainder of this Lease and any other application of such term shall
not be affected thereby.

ARTICLE 28.  BINDING EFFECT

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     This Lease may not be changed, modified or discharged except by a writing signed by Landlord,
Tenant and fee mortgagee. All covenants, obligations and conditions contained in this Lease shall
be binding upon and inure to the benefit of the successors and assigns of Landlord and the
permitted successors and assigns of Tenant to the same extent as if each such successor and assign
were named as a party to this Lease.

ARTICLE 29.  MORTGAGE AND SUBORDINATION

     A. This Lease shall, at such mortgagee’s option, be subject and subordinate to the lien of any
mortgage or mortgages which may now or hereafter affect or become a lien upon the Leased Premises,
provided that the mortgagee shall be an insurance company, a real estate investment trust, a bank,
a savings and loan association or a pension fund or trust or a combination of the foregoing, and
provided further the conditions in paragraph C are met.

     B. Tenant shall execute any instruments which may be required to effectuate such
subordination, consistent with the provisions of this Article, including, but not limited to, an
acknowledgment that the commencement of the Term has occurred and the execution of an Estoppel
Certificate as specified in Article 38, if required by the mortgagee, but in no event shall the
execution of said Estoppel Certificate release Landlord from any of its obligations under this
Lease.

     C. The subordination of this Lease to the lien of mortgage or mortgages as aforesaid or to any
ground lease is subject to the express condition (and Landlord agrees in all events with respect to
any mortgage or ground lease affecting the Leased Premises) that Landlord shall provide to Tenant,
at no charge to Tenant, a Subordination, Non-disturbance and Attornment Agreement, executed by the
applicable mortgagee or ground lessor (the “Agreement”) to provide as follows:

          1. Subject to the terms, provisions and conditions of the Agreement, this Lease and any
extensions, renewals, replacements or modifications thereof, and all of the right, title and
interest of Tenant thereunder, in and to the Leased Premises are and shall be subject and
subordinate to the mortgage or ground lease and to all of the terms and conditions contained
therein, and to any renewals, modifications, replacements, consolidations and extensions thereof.

          2. The mortgagee or ground lessor consents to this Lease and, in the event such mortgagee or
ground lessor comes into possession of or acquires title to the Leased Premises as a result of the
foreclosure or other enforcement of the mortgage or ground lease or the note secured by the
mortgage, or as a result of any other means, such mortgagee or ground lessor agrees that, so long
as Tenant is not then in default beyond any applicable grace period under the Agreement or under
this Lease, such mortgagee or ground lessor will not name Tenant as a part to such foreclosure or
enforcement action, will recognize Tenant’s leasehold estate and will not disturb Tenant in its
possession of the Leased Premises for any reason other than one which would entitle Landlord to
terminate this Lease under terms of this Lease or would cause, without any further action by
Landlord, the termination of this Lease due to any act by Tenant or would entitle Landlord to
dispossess Tenant from the Leased Premises.

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          3. Tenant agrees with such mortgagee or ground lessor that if the interests of Landlord in the
Leased Premises shall be transferred to and owned by such mortgagee or ground lessor by reason of
foreclosure or other proceedings brought by or on behalf of such mortgagee or ground lessor, or any
other manner, or shall be conveyed thereafter by such mortgagee or ground lessor or shall be
conveyed pursuant to a foreclosure sale of the Leased Premises, Tenant shall be bound to such
mortgagee or ground lessor and such mortgagee or ground lessor shall be bound to Tenant under all
of the terms, covenants and conditions of this Lease for the balance of the term hereof remaining,
with the same force and effect as if such mortgagee or ground lessor were the landlord under this
Lease, and Tenant will thereby attorn to such mortgagee or ground lessor as its landlord, said
attornment to be effective and self-operative without the execution of any further instruments, on
the part of any of the parties thereto immediately upon such mortgagee or ground lessor succeeding
to the interest of Landlord in the Leased Premises. Tenant agrees, however, upon the election of
and written demand by such mortgagee or ground lessor, within 20 days after such mortgagee or
ground lessor receives title to the Leased Premises, to execute an instrument in confirmation of
the foregoing provisions, reasonably satisfactory to such mortgagee or ground lessor, in which
Tenant shall acknowledge such attornment, such mortgagee or ground lessor shall acknowledge
Tenant’s tenancy and leasehold interest in the Leased Premises, and each shall agree that this
Lease sets forth the terms and conditions of Tenant’s tenancy.

          4. Tenant agrees with such mortgagee or ground lessor that if such mortgagee or ground lessor
shall succeed to the interest of Landlord under this Lease, such mortgagee or ground lessor shall
not be (a) liable for any action or omission of any prior landlord under this Lease, unless such
action or omission is of a continuing nature, or (b) subject to any offsets or defenses which
Tenant might have against any prior landlord unless specifically provided for in this Lease, or (c)
bound by any rent or additional rent Tenant might have paid for more than that which is due and
payable for the current month to any prior landlord (excluding taxes or insurance), or (d) bound by
any security deposit which Tenant may have paid to any prior landlord, unless such deposit is in an
escrow fund available to or has been paid to such mortgagee or ground lessor, provided that Tenant
shall be relieved of any further obligation under this Lease to reestablish any such security
deposit unless and until Tenant receives same from such prior landlord, or (e) bound by an
amendment or modification of this Lease that changes any of the rental terms made without such
mortgagee’s or ground lessor’s written consent, or (f) personally liable under this Lease and such
mortgagee’s or ground lessor’s liability under this Lease shall be limited to the interest of such
mortgagee or ground lessor in the Leased Premises. Tenant further agrees with such mortgagee or
ground lessor that Tenant will not voluntarily subordinate the Lease to any lien or encumbrance
without such mortgagee’s or ground lessor’s written consent.

          5. So long as no event has occurred, which has continued to exist for such period of time
(after notice and lapse of time to cure, if any required by this Lease) as would entitle the
Landlord under the Lease to terminate this Lease or would cause, without any further action of the
Landlord, the termination of this Lease or would entitle the Landlord to dispossess Tenant
thereunder, then (a) all proceeds of insurance shall be applied in the manner provided for in this
Lease; and (b) Tenant’s rights to alter the Leased Premises, as set forth in this Lease, shall be
recognized and consented to by such mortgagee or ground lessor.

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          6. The Agreement shall bind and inure to the benefit of the parties thereto, their successors
and assigns. As used therein the term “Tenant” shall include Tenant, its successors and assigns;
the words “foreclosure” and “foreclosure sale” as used therein shall be deemed to include the
acquisition of Landlord’s estate in the Leased Premises by voluntary deed (or assignment) in lieu
of foreclosure; and the word “mortgagee or ground lessor” shall include such mortgagee or ground
lessor therein specifically named and any of their respective successors, participants and assigns,
including anyone who shall have succeeded to Landlord’s interest in the Leased Premises by, through
or under foreclosure of the mortgage or ground lease and/or the transfer, sale or conveyance or the
Leased Premises to any third party, that said third party shall agree to be bound by, and shall be
bound by, the terms, conditions and obligations set forth in the Agreement as if such third party
were the mortgagee or ground lessor.

ARTICLE 30.  PERMITTED CONTEST

     Tenant, at its cost and expense, and if legally required in the name of Landlord, may contest
by appropriate legal proceedings conducted in good faith and with due diligence, the amount,
validity, or application, in whole or in part, or any assessment upon which a tax will be based, of
any tax assessment or charge required to be paid hereunder, or any legal requirement or insurance
requirement, provided that neither the Leased Premises nor any part thereof or interest therein
would be in any danger of being sold, forfeited or lost by reason of such proceedings, and provided
further in the case of a legal requirement, Landlord would not be in any imminent danger of any
civil or criminal liability for failure to comply therewith, and the Leased Premises would not be
subject imminently to the imposition of any lien as a result of such failure. Landlord shall
promptly furnish to Tenant all notices received by it regarding increases in taxes, assessments,
legal and insurance requirements and shall reasonably cooperate with Tenant so long as Tenant pays
all out of pocket expenses incurred by reason of such cooperation. Each such contest shall be
promptly prosecuted to a final conclusion, and Tenant shall pay and save Landlord harmless against
all losses, judgments, decrees and costs, including reasonable attorneys’ fees and expenses in
connection therewith, and shall promptly, after the final determination of such contest, pay and
discharge the amounts which shall be levied, assessed or imposed and deemed to be payable therein,
together with all penalties, fines, interest, costs and expenses thereon or in connection
therewith. Tenant shall be entitled to all refunds received as a result of such contests, provided
Tenant shall have been liable for the payment of such tax, assessment, legal or insurance
requirement.

ARTICLE 31.  LANDLORD DEFAULT

     If (i) at any time or times during the term of this Lease Landlord shall default in the
performance of any of its obligations hereunder, (ii) Tenant shall deliver to Landlord a notice
setting forth such default, and (iii) Landlord shall fail to cure such default within the period of
thirty (30) days following the delivery of such notice, then, and in each such case, Tenant, at any
time after the expiration of such thirty (30) day period and prior to such default being cured, may
deliver to Landlord a second notice setting forth such default and indicating Landlord’s failure to
cure the same within the aforesaid thirty (30) day period. If, in any case where Tenant delivers
such a second notice of a default, Landlord shall fail to cure the default set forth therein within
the period of thirty (30) days following the delivery of such second notice (or, if such default
cannot be reasonably cured within such thirty (30) day period, Landlord shall fail to commence

23

 

in good faith the cure thereof within such thirty (30) day period or Landlord shall thereafter
fail to prosecute the same with reasonable diligence to completion), then, in each such case, the
following provision shall apply: Tenant, at any time after the expiration of such second thirty
(30) day period (or, as the case may be, after Landlord’s failure to prosecute a cure with
reasonable diligence) and without any further notice to Landlord, may (but shall not be obligated
to) cure the default in question, and if Tenant, in connection with any such cure, makes any
expenditure or incurs any obligation for the payment of money, the Landlord, within ten (10) days
after written demand therefor, shall reimburse Tenant an amount equal to all sums so paid or
incurred (together with interest on such sums at a rate two (2) percent per annum over the prime
rate reported in the “Money Rates” column of The Wall Street Journal or in any successor column,
from the date Tenant pays or incurs such sums to the date Landlord reimburses Tenant therefor). If
Landlord fails to so reimburse Tenant, then Tenant shall be entitled to deduct the amount owed from
its monthly installments of Annual Basic Rent (up to a maximum of 25% of the amount of such monthly
installment, each month) until the sum due Tenant from Landlord is recovered.

ARTICLE 32.  QUIET ENJOYMENT

     Tenant, upon paying the rental herein reserved and performing the terms, covenants and
condition of this Lease, shall and may peaceably and quietly have, hold, occupy, possess and enjoy
the Leased Premises during the term of this Lease subject to the provisions hereof.

ARTICLE 33.  NOTICE OF LEASE

     Both Landlord and Tenant agree, at the request of the other of them, promptly to execute,
without charge, a notice of lease fully complying with Section 47-19 of the Connecticut General
Statutes, as amended, and stating that a copy of this Lease is on file at the office of Landlord.
Said notice of lease may be recorded by either party.

ARTICLE 34.  COUNTERPART EXECUTION

     This Lease may be executed in two or more counterparts, each of which shall be deemed an
original, and it shall not be necessary in making proof of this Lease to produce or account for
more than one counterpart.

ARTICLE 35.  HEADINGS

     Headings used herein are merely for the convenience of the parties and are not intended to
affect in any way the validity or construction of any provision hereof.

ARTICLE 36.  FURTHER ASSURANCES

     Each of the parties hereto shall execute and deliver any and all additional papers, documents,
and other assurances, and shall do any and all acts and things reasonably necessary in connection
with the performance of their obligations hereunder and to carry out the intent of the parties
hereto.

ARTICLE 37.  APPROVALS

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     Whenever the consent or approval of either party is required or provided for in this Lease,
such consent or approval, as the case may be, shall not be unreasonably withheld, conditioned or
delayed, unless otherwise expressly permitted herein. Unless otherwise explicitly provided for
herein, with respect to any written request by Tenant for consent or approval, the failure by
Landlord to notify Tenant of its decision with respect to such request within forty-five (45) days
after such request shall be deemed to be approval of same.

ARTICLE 38.  ESTOPPEL CERTIFICATE

     Each party shall, within thirty (30) days after request from the other, execute, acknowledge
and deliver a written statement certifying the following: that this Lease is unmodified and in
full force and effect (or if there have been modifications, stating them and that this Lease as
modified is in full force and effect); and that there are no known defaults in either event, or if
there are defaults, specifying them and all offset, counterclaims and defenses being claimed and
the dates to which the rent and other charges have been paid. It is intended that any such
statement delivered under this Article may be relied upon by all prospective purchasers of
Landlord’s interest in the Leased Premises or of a mortgage, and by all other properly interested
parties. However, the execution, acknowledgement and delivery of the statement shall not affect
any claim or right of action of the party executing, acknowledging or delivering it as against the
other party or any other person, firm or corporation and the statement may contain a reservation
that the claim or right of action is not waived or released thereby.

ARTICLE 39.  FORCE MAJEURE

     Whenever a day is appointed herein on which, or a period of time is appointed within which,
either party hereto is required to do or complete any act, matter or thing, the time for doing or
completion therefor shall be extended by a period of time equal to the number of days on or during
which such party is prevented from, or is unreasonably interfered with, the doing or completion of
such act, matter or thing as a result of strike, labor troubles, agreed upon additional work or
delays resulting from arbitration, governmental preemption in connection with a national emergency,
any rule, order or regulation of any governmental agencies, conditions of supply and demand which
are affected by war or other national, state or municipal emergency, or other cause, in all cases
occurring without the fault and beyond the reasonable control of such party (but excluding price
increases and causes resulting from such party’s failure to pay money).

ARTICLE 40.  ARBITRATION

     Any controversies or claims arising between the parties with respect to this Lease, unless
other provision is made herein shall be settled, by arbitration in Stamford, in accordance with the
laws of Connecticut, pursuant to the rules of the American Arbitration Association, and conducted
in accordance with the rules of said Association. The party desiring arbitration shall do so by
giving notice to that effect to the other party; said notice shall contain a specific description
of the subject matter in dispute. All expenses of arbitration, including the expenses of
witnesses, shall be paid as awarded by the arbitrator(s) who shall be requested to include the
payment of such expenses in the decision. Judgment upon the award rendered by the arbitrator may
be entered in any court having jurisdiction thereof.

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ARTICLE 41.  OPTION TO RENEW

     A. Provided Tenant is not in default in the payment of rent, additional rent or other material
term of this Lease beyond any applicable cure period, Tenant shall have the option of renewing the
term of this Lease (the “First Option to Renew”) for an additional term of five (5) years
(the “First Renewal Term”), by sending to Landlord written notice that it is extending the
term on or before the date that is six months prior to the expiration date of the initial term of
this Lease. The premises during the First Renewal Term (the “First Renewal Premises”)
shall be the Leased Premises except that in said written notice exercising said First Option to
Renew, Tenant may limit the First Renewal Premises to any of the 56 Premises, 88 Premises, 70
Premises and the Parking Lot or any combination thereof; provided, however, that if such written
notice does not contain any limitation by Tenant, the Leased Premises shall be the First Renewal
Premises. If the First Renewal Premises is less than all of the Leased Premises, Landlord and
Tenant shall enter into a parking easement agreement, and record same in the land records for
Stamford, Connecticut, which agreement shall allocate the use of parking spaces in, and the
maintenance expenses of, the Parking Lot to the owner of each of the 56 Premises, the 88 Premises
and the 70 Premises in proportion to the rentable square footage of each Building located thereon
and taking into account parking spaces already located thereon or appurtenant thereto. Such
agreement shall run with the land comprising all of the Leased Premises for the term of this Lease
(as the same may be extended or otherwise modified from time to time). Upon receipt of such
written notice the parties shall attempt to agree upon a fair Annual Basic Rent which shall be
based upon the fair market rental of the First Renewal Premises. The “fair market rental”,
as used in this Article, shall mean the fixed base rent per rentable square foot per annum which a
willing landlord under no compulsion to rent would agree to accept from a tenant having the
creditworthiness of Tenant under no compulsion to rent would agree to pay for a lease of such space
for such period on all of the terms and conditions of this Lease to be applicable thereto (taking
into consideration all relevant facts, including, without limitation, any construction allowance
and/or free rent period and/or other concessions to which Tenant will be entitled with respect
thereto, or the absence thereof if such be the case; but excluding from consideration tenant’s line
of business). When determining the “fair market rental”, as used in this Article, for any
space for any period by reference to comparable transactions, the base rents provided for in such
comparable transactions shall be adjusted to reflect the differences between the other terms of
such comparable transactions and the other terms of the deal to which the aforesaid fair market
rental is to be applied, as well as other differences that are relevant, including differences in
age, location, quality and size of the spaces and buildings. “Fair market rental”, as used
in this Article, shall exclude from its determination the value of all changes, alterations and
improvements made to the Leased Premises by, or on behalf of, Tenant. In the event the parties
cannot agree on such fair market rental for the First Renewal Premises by at least one hundred
forty-five (145) days before the expiration date of the initial term of this Lease, then Landlord
and Tenant shall each appoint a member of the American Institute of Appraisers (an “MAIA”)
who shall have at least ten (10) years experience in appraising commercial property in Fairfield
County, Connecticut. Such appointments shall be made in writing by each party to the other and to
the appraisers so appointed. Said appointments shall be made at least one hundred twenty-five
(125) days before the expiration date of the initial term of this Lease. In the event said
appraisers do not agree upon the fair market rental at least sixty (60) days before said expiration
date, they shall promptly appoint a third appraiser with similar qualifications, and said three
appraisers shall determine the fair market rental for the First Renewal Premises at least thirty
(30) days

26

 

before said expiration date. If said three appraisers are unable jointly to agree prior to
said expiration date on the fair market rental for the First Renewal Premises, then the average of
each of the values proposed by each appraiser shall be utilized as the fair market rental, provided
that the variation between the highest and lowest value does not exceed five percent (5%). In the
event of the failure of the appraisers to agree upon a third appraiser aforesaid, or in the event
the variation between the highest and lowest value exceeds five percent (5%), or in the event
either Landlord or Tenant shall fail to appoint an appraiser as aforesaid within the time frame set
forth above, then either Landlord or Tenant shall make an application to the American Arbitration
Association for the appointment of an appraiser, and such appraiser, after receiving advice from
the other appraisers, shall determine the fair market rental as soon as possible after his
appointment. Except for said Annual Basic Rent change, all of the other covenants and agreements
contained herein shall remain in force and effect on the First Renewal Premises during such First
Renewal Term. The fees of the appraisers and the costs of any arbitration proceeding shall be
borne equally by Landlord and Tenant. Notwithstanding the foregoing, Tenant shall have the right
to rescind its election to renew the term of this Lease, which rescission must be made prior to the
expiration date of the initial term of this Lease. If Tenant shall so rescind its election to
renew, the lease of the First Renewal Premises shall terminate six (6) months after said expiration
date of the initial term of this Lease, during which six month period Tenant shall pay Annual Basic
Rent at the new rate fixed by the process above described and shall reimburse Landlord for all
reasonable costs and expenses incurred by Landlord in connection with Tenant’s exercise of the
First Option to Renew.

     B. Provided Tenant is not in default in the payment of rent, additional rent or other material
term of this Lease beyond any applicable cure period, Tenant shall have the option of renewing the
term of this Lease (the “Second Option to Renew”) for an additional term of five (5) years
(the “Second Renewal Term”), by sending to Landlord written notice that it is extending the
term on or before the date that is six months prior to the expiration date of the First Renewal
Term. The premises during the Second Renewal Term (the “Second Renewal Premises”) shall be
the First Renewal Premises except that in said written notice exercising said Second Option to
Renew, Tenant may further limit the Second Renewal Premises to any of the 56 Premises, 88 Premises,
70 Premises and the Parking Lot, or any combination thereof, as were contained in the First Renewal
Premises; provided, however, if such written notice does not contain any limitation by Tenant, the
Second Renewal Premises shall be the First Renewal Premises. If the Second Renewal Premises is
less than all of the Leased Premises, Landlord and Tenant shall enter into a parking easement
agreement (if they have not done so previously), and record same in the land records for Stamford,
Connecticut, which agreement shall allocate the use of parking spaces in, and the maintenance
expenses of, the Parking Lot to the owner of each of the 56 Premises, the 88 Premises and the 70
Premises in proportion to the rentable square footage of each Building located thereon and taking
into account parking spaces already located thereon or appurtenant thereto. Such agreement shall
run with the land comprising all of the Leased Premises for the term of this Lease (as the same may
be extended or otherwise modified from time to time). Upon receipt of such written notice the
parties shall attempt to agree upon a fair Annual Basic Rent, which shall be based upon the fair
market rental of the Second Renewal Premises. In the event the parties cannot agree on such fair
market rental for the Second Renewal Premises by at least one hundred forty-five (145) days before
the expiration date of the First Renewal Term, then Landlord and Tenant shall each appoint a MAIA
who shall have at least ten (10) years experience in appraising commercial property in Fairfield
County,

27

 

Connecticut. Such appointments shall be made in writing by each party to the other and to the
appraisers so appointed. Said appointments shall be made at least one hundred twenty-five (125)
days before the expiration date of the First Renewal Term. In the event said appraisers do not
agree upon the fair market rental at least sixty (60) days before said expiration date, they shall
promptly appoint a third appraiser with similar qualifications, and said three appraisers shall
determine the fair market rental for the Second Renewal Premises at least thirty (30) days before
said expiration date. If said three appraisers are unable jointly to agree prior to said
expiration date on the fair market rental for the Second Renewal Premises, then the average of each
of the values proposed by each appraiser shall be utilized as the fair market rental, provided that
the variation between the highest and lowest value does not exceed five percent (5%). In the event
of the failure of the appraisers to agree upon a third appraiser aforesaid, or in the event the
variation between the highest and lowest value exceeds five percent (5%), or in the event either
Landlord or Tenant shall fail to appoint an appraiser as aforesaid within the time frame set forth
above, then either Landlord or Tenant shall make an application to the American Arbitration
Association for the appointment of an appraiser, and such appraiser, after receiving advice from
the other appraisers, shall determine the fair market rental as soon as possible after his
appointment. Except for said Annual Basic Rent change, all of the other covenants and agreements
contained herein shall remain in force and effect during such Second Renewal Term. The fees of the
appraisers and costs of any arbitration proceeding shall be borne equally by Landlord and Tenant.
Notwithstanding the foregoing, Tenant shall have the right to rescind its election to renew the
term of this Lease, which rescission must be made prior to the expiration date of the First Renewal
Term. If Tenant shall so rescind its election to renew, the lease of the Second Renewal Premises
shall terminate six (6) months after said expiration date of the First Renewal Term, during which
six month period Tenant shall pay Annual Basic Rent at the new rate fixed by the process above
described and shall reimburse Landlord for all reasonable costs and expenses incurred by Landlord
in connection with Tenant’s exercise of the Second Option to Renew.

     C. Provided Tenant is not in default in payment of rent, additional rent or other material
term of this Lease beyond any applicable cure period, Tenant shall have the option of renewing the
term of this Lease (the “Third Option to Renew”) for an additional term of five (5) years
(the “Third Renewal Term”), by sending to Landlord written notice that it is extending the
term on or before the date that is six months prior to the expiration date of the Second Renewal
Term. The premises during the Third Renewal Term (the “Third Renewal Premises”) shall be
the Second Renewal Premises except that in said written notice exercising said Third Option to
Renew, Tenant may further limit the Third Renewal Premises to any of the 56 Premises, 88 Premises,
70 Premises and the Parking Lot, or any combination thereof, as were contained in the Second
Renewal Premises; provided, however, if such written notice does not contain any limitation by
Tenant, the Third Renewal Premises shall be the Second Renewal Premises. If the Third Renewal
Premises is less than all of the Leased Premises, Landlord and Tenant shall enter into a parking
easement agreement (if they have not done so previously), and record same in the land records for
Stamford, Connecticut, which agreement shall allocate the use of parking spaces in, and the
maintenance expenses of, the Parking Lot to the owner of each of the 56 Premises, the 88 Premises
and the 70 Premises in proportion to the rentable square footage of each Building located thereon
and taking into account parking spaces already located thereon or appurtenant thereto. Such
agreement shall run with the land comprising all of the Leased Premises for the term of this Lease
(as the same may be extended or otherwise modified from time to time).

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Upon receipt of such written notice the parties shall attempt to agree upon a fair Annual
Basic Rent which shall be based upon the fair market rental of the Third Renewal Premises. In the
event the parties cannot agree on such fair market rental for the Third Renewal Premises by at
least one hundred forty-five (145) days prior to the expiration date of the Second Renewal Term,
then Landlord and Tenant shall each appoint a MAIA who shall have at least ten (10) years
experience in appraising commercial property in Fairfield County, Connecticut. Such appointments
shall be made in writing by each party to the other and to the appraisers so appointed. Said
appointments shall be made at least one hundred twenty-five (125) days before the expiration date
of the Second Renewal Term. In the event said appraisers do not agree upon the fair market rental
at least sixty (60) days before said expiration date, they shall promptly appoint a third appraiser
with similar qualifications, and said three appraisers shall determine the fair market rental for
the Third Renewal Premises at least thirty (30) days before said expiration date. If said three
appraisers are unable jointly to agree prior to said expiration date on the fair market rental for
the Third Renewal Premises, then the average of each of the values proposed by each appraiser shall
be utilized as the fair market rental, provided that the variation between the highest and lowest
value does not exceed five percent (5%). In the event of the failure of the appraisers to agree
upon a third appraiser aforesaid, or in the event the variation between the highest and lowest
value exceeds five percent (5%), or in the event either Landlord or Tenant shall fail to appoint an
appraiser as aforesaid within the time frame set forth above, then either Landlord or Tenant shall
make an application to the American Arbitration Association for the appointment of an appraiser,
and such appraiser, after receiving advice from the other appraisers, shall determine the fair
market rental as soon as possible after his appointment. Except for said Annual Basic Rent change,
all of the other covenants and agreements contained herein shall remain in force and effect during
such Third Renewal Term. The fees of the appraisers and costs of any arbitration proceeding shall
be borne equally by Landlord and Tenant. Notwithstanding the foregoing, Tenant shall have the
right to rescind its election to renew the term of this Lease, which rescission must be made prior
to the expiration date of the Second Renewal Term. If Tenant shall so rescind its election to
renew, the lease of the Third Renewal Premises shall terminate six (6) months after said expiration
date of the Second Renewal Term, during which six month period Tenant shall pay Annual Basic Rent
at the new rate fixed by the process above described and shall reimburse Landlord for all
reasonable costs and expenses incurred by Landlord in connection with Tenant’s exercise of the
Third Option to Renew.

     Notwithstanding anything herein contained to the contrary, if in any renewal term Tenant
elects not to renew for contiguous properties, Landlord shall have the right to remove connecting
pedestrian walkways to buildings for which no lease renewal is had.

ARTICLE 42.  INTENTIONALLY OMITTED

ARTICLE 43.  OPTION TO PURCHASE

     A. If this Lease shall be in effect and Tenant shall not be in default beyond the period given
to cure such default at the time of the exercise of this option to purchase, Tenant (but not any
assignee of this Lease other than a subsidiary, affiliate or successor corporation to Tenant) shall
have the option to purchase the Leased Premises, or the 56 Premises, or the 70 Premises or the 88
Premises, or the Parking Lot, or any combination thereof, on the expiration date if the initial
term of this Lease or, in the event Tenant has exercised its First Option to Renew and has

29

 

not rescinded same, to purchase the First Renewal Premises on the expiration date of the First
Renewal Term, or in the event Tenant has exercised its Second Option to Renew and has not rescinded
same, to purchase the Second Renewal Premises on the expiration date of the Second Renewal Term, or
in the event Tenant has exercised its Third Option to Renew and has not rescinded same, to purchase
the Third Renewal Premises on the expiration date of the Third Renewal Term. All of said
expiration dates are hereinafter called “Option Date” and the particular Option Date being
then exercised is hereinafter called the “Applicable Option Date”. If the property to be
purchase is less than all of the Leased Premises, Landlord and Tenant shall enter into a parking
easement agreement (if they have not done so previously), and record same in the land records for
Stamford, Connecticut, which agreement shall allocate the use of parking spaces in, and the
maintenance expenses of, the Parking Lot to the owner of each of the 56 Premises, the 88 Premises
and the 70 Premises in proportion to the rentable square footage of each Building located thereon
and taking into account parking spaces already located thereon or appurtenant thereto. Such
agreement shall run with the land comprising all of the Leased Premises.

     B. Written notice of intent to exercise the option contained in this Article shall be sent by
Tenant to Landlord on or prior to one hundred eighty (180) days prior to the Applicable Option
Date. The purchase price to be paid by Tenant in connection with its exercise of this option to
purchase shall be the fair market value of the property to be purchased as of a date which is one
hundred eighty (180) days before the Applicable Option Date. At any time within one hundred eighty
(180) days before such Applicable Option Date, the parties, upon written request of Tenant, shall
attempt to agree upon the purchase price which shall be based upon the fair market value of the
property to be purchased. If the parties cannot agree, the same shall be determined by appraisal
as hereinafter set forth. The “fair market value”, as used in this Article, shall mean the
purchase price which a willing seller under no compulsion to sell would agree to accept from a
purchaser under no compulsion to buy would agree to pay for such space (taking into consideration
all relevant factors, but excluding from consideration purchaser’s line of business). When
determining the “fair market value”, as used in this Article, for any space by reference to
comparable transactions, the prices provided for in such comparable transactions shall be adjusted
to reflect the differences between the other terms of such comparable transactions and the other
terms of the deal to which the aforesaid fair market value is to be applied, as well as other
differences that are relevant, including differences in age, location, quality and size of the
spaces and buildings. “Fair market value”, as used in this Article, shall exclude from its
determination the value of all changes, alterations and improvements made to the Leased Premises
by, or on behalf of, Tenant.

     C. In the event the parties cannot agree on the fair market value of the property to be
purchased by at least one hundred forty five (145) days prior to the Applicable Option Date, then
Landlord and Tenant shall each appoint a MAIA who shall have at least ten (10) years experience in
appraising commercial property in Fairfield County, Connecticut. Such appointments shall be made
in writing by each party to the other and to the appraisers so appointed. Said appointments shall
be made at least one hundred twenty-five (125) days before the Applicable Option Date. In the
event said appraisers do not agree upon the fair market value at least sixty (60) days before said
Applicable Option Date, they shall promptly appoint a third appraiser with similar qualifications,
and said three appraisers shall determine the fair market value for the property at least thirty
(30) days before said Applicable Option Date. If said three

30

 

appraisers are unable jointly to agree prior to said Applicable Option Date on the fair market
value for the property, then the average of each of the values proposed by each appraiser shall be
utilized as the fair market value, provided that the variation between the highest and lowest value
does not exceed five percent (5%). In the event of the failure of the appraisers to agree upon a
third appraiser aforesaid, or in the event the variation between the highest and lowest value
exceeds five percent (5%), or in the event either Landlord or Tenant shall fail to appoint an
appraiser as aforesaid within the time frame set forth above, then either Landlord or Tenant shall
make an application to the American Arbitration Association for the appointment of an appraiser,
and such appraiser, after receiving advice from the other appraisers, shall determine the fair
market value as soon as possible after his appointment. The fees of the appraisers and costs of
any arbitration proceeding shall be borne equally by Landlord and Tenant. Notwithstanding the
above, Tenant shall have the right to rescind its election to purchase the Premises at any time
prior to the 90th day before the Applicable Option Date. If Tenant shall so rescind its election
to purchase, it shall reimburse Landlord for all reasonable costs and expenses incurred by Landlord
in connection with Tenant’s exercise of the Option to Purchase and Tenant shall continue to pay
Annual Basic Rent and additional rent for a period of three months after said Applicable Option
Date.

     D. On the Applicable Option Date Landlord shall convey good and marketable fee simple title to
the property to be purchased to Tenant free and clear of all liens and encumbrances except as
provided herein or authorized by the terms of this Lease, and together with all appurtenances
(e.g., easements and rights of way) and Tenant shall pay to Landlord the Purchase Price. Landlord
shall convey the property to be purchased (including, without limitation, said appurtenances) by
full covenant warranty deed in the usual Connecticut form. Landlord shall pay applicable
conveyance taxes at closing.

     E. Notwithstanding anything above to the contrary, Landlord shall have the right to choose the
form and structure of the transfer of the property so as to minimize its tax liability under the
then existing tax laws provided Tenant in its sole and absolute judgment does not incur any
additional tax liability, and Tenant shall cooperate with such form and structure even to entering
into a tax free exchange of the property to be purchased for its fair market value, provided,
however, that Tenant shall not be obligated to take title to any exchange property, and provided
further, all costs, including legal fees, relating to Tenant’s cooperation as described in this
paragraph shall be paid by Landlord.

ARTICLE 44.  ENVIRONMENTAL REPRESENTATIONS

     A. Landlord warrants and represents (i) that when Tenant first occupied the Leased Premises,
the Leased Premises were free from any hazardous, toxic or dangerous substance or material
(collectively, “Hazardous Material”) defined as such (or meeting criteria so as to be
defined as such) in any federal, state, local or municipal law, ordinance, code, decree or
requirement regulating, relating to or imposing liability or standards of conduct concerning any
Hazardous Material, as now or at any time hereafter may be in effect (collectively,
“Environmental Law”); (ii) that the Premises at such time were free of any asbestos or
asbestos containing substance; (iii) that Landlord has never received any notice of any violation
of or non-compliance with any Environmental Law regarding the Leased Premises; and (iv) that
Landlord has never caused or permitted any Hazardous Material, asbestos or asbestos-containing
substance

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to be placed, held, located or disposed of on, under or at the Leased Premises or any part
thereof. Landlord shall indemnify and hold Tenant harmless from and against any and all loss,
damage, cost or expense (including but not limited to clean-up costs and losses relating to
interruption or cessation of operations) arising out of or relating to any breach of any of the
foregoing warranties and representations.

     B. Tenant shall have no responsibility whatsoever for, and Landlord shall indemnify and hold
Tenant harmless from and against, any and all loss, damage, cost or expense (including but not
limited to clean-up costs and losses relating to interruption or cessation of operations) arising
out of or relating to (i) any pre-existing contamination of the Leased Premises by Hazardous
Material, or asbestos or asbestos-containing substances; (ii) any contamination by Hazardous
Materials, asbestos or asbestos-containing substances emanating from outside the Premises; or (iii)
any contamination by Hazardous Materials, asbestos or asbestos-containing substances not caused by
the act or omission of Tenant, its employees, agents or contractors or by Tenant’s breach of this
Lease.

     C. Tenant shall not (either with or without negligence) cause or permit the spill, discharge,
escape, disposal or release of any hazardous or toxic substances, wastes or materials at or about
the Leased Premises in violation of Environmental Law, or the treatment, storage or use of such
substances or materials in any manner in violation of Environmental Law.

     D. Tenant warrants and represents (i) that Tenant has never received any notice of any
violation of or non-compliance with any Environmental Law regarding the Leased Premises; and (ii)
that Tenant has never caused or permitted any Hazardous Material, asbestos or asbestos-containing
substance to be placed, held, located or disposed of on, under or at the Leased Premises or any
part thereof in violation of Environmental Law. Tenant shall indemnify and hold Landlord harmless
from and against any and all loss, damage, cost or expense (including but not limited to clean-up
costs and losses relating to interruption or cessation of operations) arising out of or relating to
any breach of any of the foregoing warranties and representations.

ARTICLE 45. HOLDOVER

     If vacant and exclusive possession of the Leased Premises is not surrendered to Landlord as
required by the terms of this Lease upon the expiration or earlier termination of the term of this
Lease, Tenant shall be deemed to be in default hereunder as a result thereof, and Tenant shall pay
to Landlord on account of the use and occupancy of the Leased Premises for each month during which
Tenant holds over in the Leased Premises after the expiration or earlier termination of the term of
this Lease: 150% of the Annual Basic Rent and additional rent (at the rate payable during the last
month of the term of this Lease) that would be payable during the first sixty (60) days of such
holdover period; and 200% of the Annual Basic Rent and additional rent (at the rate payable during
the last month of the term of this Lease) that would be payable during such holdover period
thereafter.

ARTICLE 46. ROOFTOP INSTALLATIONS

     A. Subject to the terms of Article 9 hereof and provided that Tenant shall furnish Landlord
with an engineer’s report stating that the installation of Tenant’s Telecommunications

32

 

Equipment is not likely to have a material adverse effect on the integrity of the roof of the
subject Building, Tenant shall have the right to (i) install on the roof of the Buildings antennae,
communications dishes (or other communications devices) and all equipment relating thereto
(collectively, “Tenant’s Telecommunications Equipment”) and (ii) connect Tenant’s
Telecommunications Equipment to the interior of the Leased Premises through the building systems
and shafts. Tenant shall be responsible to repair any adverse condition to the roof caused by the
installation of Tenant’s Telecommunications Equipment. There shall be no rent or other payments
due from Tenant for the roof space occupied by Tenant for Tenant’s Telecommunications Equipment.
Any such equipment installed by Tenant shall constitute Tenant’s trade fixtures (as defined in
Article 17). Landlord shall cooperate with Tenant’s efforts to obtain any permit required or
desirable in connection with the installation of any Tenant’s Telecommunications Equipment.

     B. Subject to the terms of Article 9 hereof, and provided that Tenant shall furnish Landlord
with an engineer’s report stating that the installation and connection of Tenant’s Supplemental
Equipment is not likely to have a material adverse effect on the integrity of the roof, building
systems and structure of the subject Building, Tenant shall have the right to (i) install on the
roof of the Buildings HVAC equipment, generators, an uninterrupted power supply system and related
equipment (collectively, “Tenant’s Supplemental Equipment”), and (ii) connect Tenant’s
Supplemental Equipment to the interior of the Leased Premises through the building systems and
shafts, as appropriate. There shall be no rent or other payments due from Tenant for the portion
of the Buildings occupied by Tenant for Tenant’s Supplemental Equipment. Any such equipment
installed by Tenant shall constitute Tenant’s trade fixtures (as defined in Article 17). Landlord
shall cooperate with Tenant’s efforts to obtain any permit required or desirable in connection with
the installation of any Tenant’s Supplemental Equipment.

     C. Subject to the terms of this Lease, Tenant shall have the right to access the roof and
other portions of the Buildings 24 hours a day, 7 days a week, for purposes of installing,
maintaining, repairing and replacing Tenant’s Telecommunications Equipment and Tenant’s
Supplemental Equipment and the risers and cables necessary therefor.

ARTICLE 47. COMMON AREAS

     Landlord shall maintain all private roadways and landscaping on properties owned by Landlord
in the vicinity of the Leased Premises (except to the extent same are required hereunder to be
maintained by Tenant) in good repair and condition consistent with first class office parks located
in Stamford, Connecticut.

[Remainder of page intentionally left blank]

33

 

     IN WITNESS WHEREOF, the parties have hereunto set their names and seals the day and year first
above written.

	 	 	 	 	 	 	 

	Signed, Sealed and Delivered
in the presence of:	 	SOUNDVIEW FARMS, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	By:	 	/s/ Herbert M. Meyer	 	 
	 
	 	 	 	 

Herbert M. Meyer
	 	 
	 
	 	 	 	a duly authorized Manager	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	GARTNER, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	By:	 	/s/ Christopher J. Lafond	 	 
	 
	 	 	 	 

Name: Christopher J. Lafond
	 	 
	 

	 	 
	 	Title: EVP, Chief Financial Officer	 	 

	 	 	 	 	 	 	 	 	 

	STATE OF CONNECTICUT)
	 	 	 	 	 	 	 	 
	 
	 	 	)	 	 	ss. April 16, 2010	 	 
	COUNTY OF FAIRFIELD
	 	 	)	 	 	 	 	 

     Personally appeared SOUNDVIEW FARMS, LLC, by Herbert M. Meyer, a manager, hereunto duly
authorized, signer and sealer of the foregoing instrument and acknowledged the same to be his free
act and deed and the free act and deed of said SOUNDVIEW FARMS, LLC, before me.

	 	 	 	 	 	 	 	 	 

	 
	 	 	 	 	 	/s/ Cathy J. Klein 

Notary Public
	 	 
	STATE OF CONNECTICUT)
	 	 	 	 	 	 	 	 
	 
	 	 	)	 	 	ss. April 15, 2010	 	 
	COUNTY OF FAIRFIELD
	 	 	)	 	 	 	 	 

     Personally appeared GARTNER, INC., by Christopher J. Lafond, its Executive Vice President and
Chief Financial Officer, hereunto duly authorized, signer and sealer of the foregoing instrument
and acknowledged the same to be his free act and deed and the free act and deed of said GARTNER,
INC., before me.

	 	 	 	 	 

	 
	 	Clare A. Kretzman
 

Commissioner of the Superior Court
	 	 

34

 

EXHIBIT A

PROVISIONS GOVERNING TENANT IMPROVEMENT WORK

     A. Definitions. The following terms shall have the following meanings:

     “Approval Criteria” shall mean the following: (i) the desired improvements do not
materially and adversely affect the structural integrity of one or more of the Buildings; (ii) the
desired improvements will not cause a violation of other provisions of this Lease; and (iii) the
desired improvements are in compliance with applicable laws, regulations and ordinances of
governmental authorities.

     “Tenant Improvement Work” shall include all work, equipment and improvements which, in
Tenant’s opinion, are necessary or desirable to renovate the Leased Premises into first-class
office space for Tenant’s occupancy, which work, equipment and improvements are more specifically
described on Exhibit A-1 attached hereto, together with such changes thereto which Tenant
may propose from time to time.

     B. Preparation and Approval of Tenant’s Plans. (a) Prior to commencing any portion
of the Tenant Improvement Work, Tenant shall submit to Landlord (i) architectural and engineering
drawings of such portion of the Tenant Improvement Work and (ii) specifications for such portion of
the Tenant Improvement Work (all of the foregoing, collectively, “Tenant’s Plans”). Within
fourteen (14) days after Landlord’s receipt of Tenant’s Plans, Landlord (i) shall give its written
approval thereto or (ii) if Landlord reasonably believes that Tenant’s Plans do not comply with the
Approval Criteria, shall request revisions or modifications to Tenant’s Plans (but only to the
extent same fail to comply with the Approval Criteria). Within five (5) days following receipt by
Landlord of any such revisions or modifications, Landlord shall give its written approval thereto
or shall request other revisions or modifications thereto (but only to the extent Tenant has failed
to comply with Landlord’s earlier requests). If Landlord shall fail to respond to Tenant’s Plans
with its approval or request for revisions or modifications within the time periods provided above,
such failure shall be deemed Landlord’s approval of Tenant’s Plans. The Tenant’s Plans as approved
(or deemed approved) by Landlord are referred to herein as the “Final Tenant’s Plans”.

     C. Construction Schedule. Tenant intends to perform the Tenant Improvement Work one
Building at a time, in succession. Tenant hereby agrees to provide to Landlord on or prior to
April 1, 2010 any documentation relating to the Tenant Improvement Work reasonably requested by
Landlord’s lender of the Tenant Improvement Allowance, including, without limitation, proposed
budgets and Tenant’s Plans, in order that such lender and Landlord may close the construction loan
that is required to fund the Tenant Improvement Allowance. At any time after any Construction
Commencement Date or any Construction Completion Date, Landlord and Tenant shall, promptly upon
written request by either of them, execute and acknowledge an instrument in a form reasonably
satisfactory to each of them, confirming such Construction Commencement Date or such Construction
Completion Date; provided, however, that the execution and acknowledgment of such an instrument
shall not be a prerequisite to the existence of such Construction Commencement Date or Construction
Completion Date.

 

 

     D. Performance of Tenant Improvement Work. (a) Prior to performing the Tenant
Improvement Work, Tenant shall solicit three (3) proposals from construction managers mutually
acceptable to Landlord and Tenant to manage the performance of the Tenant Improvement Work. Based
on such proposals, Landlord and Tenant shall jointly select the construction manager to manage the
performance of the Tenant Improvement Work. Tenant, with Landlord’s approval (which shall not be
unreasonably withheld, conditioned or delayed), shall have the right to select the architect,
engineers, consultants, general contractor, trades and the project manager of its choice to perform
the Tenant Improvement Work. Within ten (10) days after Landlord’s receipt of a request for its
approval to any proposed architect, engineer, consultant, general contractor, trades or project
manager, Landlord shall either (i) give its written approval to such proposed architect, engineer,
consultant, general contractor, trades or project manager, or (ii) acting reasonably, refuse to
approve same, setting forth the reasons for such refusal. If Landlord fails to respond within such
ten (10) day period, then Landlord shall be deemed to have approved such architect, engineer,
consultant, general contractor, trades or project manager. Tenant shall contract directly with all
architects, engineers, consultants, general contractors, trades and project managers and shall
perform the Tenant Improvement Work (or such portion thereof in question) in accordance with (i)
the Final Tenant’s Plans (subject to subparagraph (b) below), (ii) good construction practices, and
(iii) all applicable laws, regulations and ordinances of government authorities.

          (b) At any time after the Final Tenant’s Plans are approved (or deemed approved) by Landlord,
Tenant shall be permitted to direct changes in the Tenant Improvement Work (each, a “Tenant
Change Order”); provided that Tenant obtain Landlord’s consent to any Tenant Change Order that
materially affects the structure of one or more of the Buildings or the mechanical systems therein
(each, a “Material Tenant Change Order”). Within seven (7) days after its receipt of any
proposed Material Tenant Change Order, Landlord (i) shall give its written approval thereto or (ii)
If Landlord reasonably believes that such Material Tenant Change Order does not comply with the
Approval Criteria, shall request revisions or modifications to such Material Tenant Change Order
(but only to the extent the same fails to comply with the Approval Criteria). Within five (5) days
following receipt by Landlord of any such revisions or modifications, Landlord shall give its
written approval thereto or shall request other revisions or modifications thereto (but only to the
extent Tenant has failed to comply with Landlord’s earlier requests). If Landlord shall fail to
respond to any Material Tenant Change Order with its approval or request for revisions or
modifications within the time periods provided above, such failure shall be deemed Landlord’s
approval of such Material Tenant Change Order. Once approved or deemed approved by Landlord, a
Material Tenant Change Order shall become part of the Final Tenant’s Plans and the work described
in such Material Tenant Change Order shall become part of the Tenant Improvement Work.

          (c) Landlord shall reasonably cooperate with Tenant’s efforts to obtain any permits,
certificates or final approvals in connection with any portion of the Tenant Improvement Work
including, without limitation, executing and delivering any documents or instruments that Landlord
is required to sign and which are reasonably required by Tenant in connection therewith.

          (d) Landlord shall cooperate with Tenant’s efforts to obtain any governmental incentives,
including, without limitation, any financial assistance provided by the State of

36

 

Connecticut Department of Economic and Community Development or the Connecticut Development
Authority, respecting its performance of the Tenant Improvement Work. Specifically, in order to
obtain a sales tax exemption with assistance from the Connecticut Development Authority, upon the
request of Tenant, Landlord shall cause disbursements of the Tenant Improvement Allowance to be
paid to a joint checking account held by Tenant and the Connecticut Development Authority. Such
disbursements will be used to pay the costs of Tenant Improvement Work in accordance with the terms
of this Lease and in accordance with procedures prescribed by the Connecticut Development
Authority.

          (e) Landlord shall not be entitled to any fees respecting the Tenant Improvement Work,
including, without limitation, supervisory or review fees; provided, however, that Tenant shall
reimburse Landlord for its reasonable, out-of-pocket expenses incurred to third party professionals
unaffiliated with Landlord for the review of Tenant’s Plans and for the supervising of the Tenant
Improvement Work, but such expenses shall not include any costs or expenses payable to any
mortgagee or ground lessor of Landlord, or any professional engaged on such mortgagee’s or ground
lessor’s behalf, said expenses being the responsibility of Landlord.

     E. Tenant Improvement Allowance. Subject to the terms of this Section E, Landlord
shall reimburse Tenant for an aggregate amount of up to Twenty Five Million and No/100 Dollars
($25,000,000) (“Tenant’s Improvement Allowance”) for the hard and soft costs incurred by
Tenant in connection with the Tenant Improvement Work performed in accordance with the terms of
this Lease, including, without limitation, costs for labor, materials, architectural services,
engineering services, expediting and consulting fees, project management services and necessary
permits and approvals. So long as there exists no default by Tenant under this Lease beyond
applicable notice and/or cure periods, Landlord shall disburse from time to time (but not more
often than one (1) time per calendar month) to Tenant within ten (10) days of Tenant’s requisition
therefor a portion of Tenant’s Improvement Allowance equal to the amount set forth in Tenant’s
requisition. Tenant’s requisition shall include: (i) a certificate signed by Tenant and Tenant’s
architect setting forth (A) an itemized account of the sums paid by Tenant to all contractors,
subcontractors, materialmen, engineers, architects and other persons rendering services or
furnishing materials in connection with the Tenant Improvement Work, (B) that the portion of the
Tenant Improvement Work in question has been substantially completed in accordance with Final
Tenant’s Plans, (C) that Tenant has not received notice of the filing of any mechanic’s or other
liens arising out of such Tenant Improvement Work which have not been discharged of record and (D)
that Tenant has complied with all of the terms of this Lease and all applicable laws, regulations
and ordinances of governmental authorities; and (ii) partial lien waivers, receipted invoices or
other proof of payment as Landlord shall reasonably require for all work done and materials
supplied which are the subject of the requisition. Upon completion of all of the Tenant
Improvement Work with respect to each Building, Tenant shall deliver to Landlord (i) a certificate
signed by Tenant and Tenant’s architect certifying that the Tenant Improvement Work for such
Building has been substantially completed in accordance with Final Tenant’s Plans, (ii) a permanent
certificate of occupancy and all other municipal sign-offs, inspection certificates and any and all
permits required to be issued in accordance with applicable laws, regulations and ordinances of
governmental authorities and (iii) a general release from all contractors and subcontractors
performing the Tenant Improvement Work for such Building, releasing Landlord and Tenant from any
and all liability for any work and

37

 

materials. If the aggregate amount of the Tenant Improvement Allowance has not been
distributed to Tenant on or prior to the latest Construction Completion Date applicable to the 56
Building, the 88 Building and the 70 Building, the Excess Amount shall be received as a rebate of
Annual Basic Rent due from Tenant under this Lease such that the Excess Amount shall be fully
amortized in equal monthly installments over the initial term of this Lease, utilizing an interest
rate of seven percent (7%) per annum.

     F. Termination Right; Option to Purchase; Leasehold Mortgage. In the event that on or
prior to April 1, 2010 Landlord has not entered into loan documents with a lender sufficient to
fund, or has not otherwise provided to Tenant, the Tenant Improvement Allowance pursuant to the
terms of this Lease, Tenant shall have the following rights:

          (a) the right to terminate this Lease with respect to the entire Leased Premises, or the 56
Premises, or the 70 Premises or the 88 Premises, or any combination thereof, to be exercised by
delivery of written notice thereof to Landlord on or prior to October 1, 2010, which termination
shall be effective as of a date specified in such notice that is between 180 and 270 days following
the date notice of such termination has been sent to Landlord;

          (b) the right to exercise the option to purchase set forth in Article 43 by delivery of
written notice thereof to Landlord on or prior to October 1, 2010, as if the Option Date as defined
in Article 43 were 180 days following the date such notice is delivered to Landlord; or

          (c) the right to fund some or all of the Tenant Improvement Allowance, as Tenant shall
determine, with financing secured by a leasehold mortgage pursuant to the terms of Article 12(C);
provided, however, that in such case, the amount “$21.50” set forth in clause (iii) of Article 5(C)
shall instead be the amount “$15.00”.

     G. Tax Treatment. Landlord and Tenant intend to treat the Tenant Improvement Work as
owned by Landlord for tax purposes, including but not limited to those designations set forth on
Exhibit A-1. The amounts set forth on Exhibit A-1 as of the date of this Lease are
estimates only and actual amounts may vary. Landlord and Tenant agree that as such costs are
finally determined, tax ownership of such categories of costs as set forth on Exhibit A-1
will be based upon actual amounts expended.

     H. Removal. Notwithstanding anything to the contrary contained herein, all changes,
alterations or improvements constituting the Tenant Improvement Work that exist upon the expiration
or earlier termination of the Term of this Lease will revert to the Landlord.

     I. Intended Beneficiary. Landlord and Tenant hereby acknowledge and agree that based
on the terms set forth in Section E above, Tenant is the primary beneficiary of the sales and use
tax relief being provided by the Connecticut Development Authority with respect to the Tenant
Improvement Work.

38

 

EXHIBIT A-1

SCHEDULE OF TENANT IMPROVEMENT WORK

Estimated as of April
                    , 2010

	 	 	 
	Expense Category	 	Estimated Cost ($)
	Base Building Work:
	 	 
	HVAC
	 	$2,994,810
	Code Up-grades
	 	$855,660
	Restroom Up-grades
	 	$500,561
	Façade and Window Repairs
	 	$250,281
	Parking Lot Repair
	 	$250,281
	Consultants
	 	$149,741
	 
	 	Subtotal:  $5,001,334
	 
	 	 
	Base Interior Fit-Up
	 	$12,062,500
	 
	 	 
	Insurance/Permits/Fees
	 	$1,539,778
	 
	 	 
	Consultant Fees
	 	$2,070,606
	 
	 	 
	Telephone/Data/Security
	 	$595,000
	 
	 	 
	Furniture/Fixtures/Moving
	 	$3,717,900
	 
	 	 
	TOTAL:
	 	$24,987,118

 

 

TABLE OF CONTENTS

	 	 	 	 	 

	ARTICLE 1. LANDLORD’S REPRESENTATIONS
	 	 	3	 
	ARTICLE 2. INTENTIONALLY OMITTED
	 	 	3	 
	ARTICLE 3. INTENTIONALLY OMITTED
	 	 	3	 
	ARTICLE 4. TENANT’S IMPROVEMENTS
	 	 	4	 
	ARTICLE 5. RENT
	 	 	4	 
	ARTICLE 6. TAXES AND UTILITIES
	 	 	5	 
	ARTICLE 7. USE OF PREMISES
	 	 	6	 
	ARTICLE 8. REPAIRS
	 	 	6	 
	ARTICLE 9. CHANGES, ALTERATIONS AND IMPROVEMENTS
	 	 	8	 
	ARTICLE 10. COMPLIANCE WITH LAWS, ETC
	 	 	9	 
	ARTICLE 11. NET LEASE; NON-TERMINABILITY
	 	 	10	 
	ARTICLE 12. ASSIGNMENT
	 	 	11	 
	ARTICLE 13. INSURANCE
	 	 	12	 
	ARTICLE 14. DAMAGE OR DESTRUCTION
	 	 	14	 
	ARTICLE 15. MECHANICS LIENS
	 	 	15	 
	ARTICLE 16. CONDEMNATION
	 	 	15	 
	ARTICLE 17. TENANT’S TRADE FIXTURES
	 	 	15	 
	ARTICLE 18. SIGNS
	 	 	16	 
	ARTICLE 19. INDEMNITY
	 	 	16	 
	ARTICLE 20. ADVANCES BY THE LANDLORD; ENTRY BY THE LANDLORD
	 	 	17	 
	ARTICLE 21. TENANT’S DEFAULT
	 	 	17	 
	ARTICLE 22. ADDITIONAL RIGHTS OF PARTIES
	 	 	18	 
	ARTICLE 23. NOTICES, DEMANDS AND OTHER INSTRUMENTS
	 	 	19	 
	ARTICLE 24. JURY WAIVER
	 	 	20	 
	ARTICLE 25. SURRENDER
	 	 	20	 
	ARTICLE 26. BROKER
	 	 	20	 
	ARTICLE 27. SEPARABILITY
	 	 	20	 
	ARTICLE 28. BINDING EFFECT
	 	 	20	 
	ARTICLE 29. MORTGAGE AND SUBORDINATION
	 	 	21	 
	ARTICLE 30. PERMITTED CONTEST
	 	 	23	 
	ARTICLE 31. LANDLORD DEFAULT
	 	 	23	 
	ARTICLE 32. QUIET ENJOYMENT
	 	 	24	 
	ARTICLE 33. NOTICE OF LEASE
	 	 	24	 
	ARTICLE 34. COUNTERPART EXECUTION
	 	 	24	 
	ARTICLE 35. HEADINGS
	 	 	24	 
	ARTICLE 36. FURTHER ASSURANCES
	 	 	24	 
	ARTICLE 37. APPROVALS
	 	 	24	 
	ARTICLE 38. ESTOPPEL CERTIFICATE
	 	 	25	 
	ARTICLE 39. FORCE MAJEURE
	 	 	25	 
	ARTICLE 40. ARBITRATION
	 	 	25	 
	ARTICLE 41. OPTION TO RENEW
	 	 	26	 
	ARTICLE 42. INTENTIONALLY OMITTED
	 	 	29	 
	ARTICLE 43. OPTION TO PURCHASE
	 	 	29	 
	ARTICLE 44. ENVIRONMENTAL REPRESENTATIONS
	 	 	31	 

 

 

	 	 	 	 	 

	ARTICLE 45. HOLDOVER
	 	 	32	 
	ARTICLE 46. ROOFTOP INSTALLATIONS
	 	 	32	 
	ARTICLE 47. COMMON AREAS
	 	 	33	 

41

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