Document:

EX-10.19

 Exhibit 10.19 

Execution Version 
 AMENDED
AND RESTATED OPTION AGREEMENT 
 THIS AMENDED AND RESTATED OPTION AGREEMENT (this “Agreement”) is made as of
September 16, 2013, to amend and restate the Option Agreement dated November 28, 2011 (the “Original Agreement”) between 1400 Broadway Associates L.L.C., a New York limited liability company (“Owner”),
having an office c/o Malkin Holdings LLC, One Grand Central Place, 60 East 42nd Street, New York, New York 10165; Empire State Realty OP, L.P., a Delaware limited partnership (the
“Operating Partnership”); Empire State Realty Trust, Inc., a Maryland corporation (the “Company”), which is the general partner of the Operating Partnership, having an office c/o Malkin Holdings LLC, One Grand
Central Place, 60 East 42nd Street, New York, New York 10165, the Estate of Leona M. Helmsley (including, where the context so requires, any affiliated entities, “Helmsley”), and,
solely with respect to Section 27(b), Peter L. Malkin and Anthony E. Malkin. 
 RECITALS 

A. WHEREAS, in conjunction with the Company’s formation transactions and the initial public offering (the “IPO”) of the
Company’s Class A Common Stock, par value $0.01 per share (the “Class A Common Stock”), the Company desires, among other things, (i) to consolidate the ownership of the Participation Interests (as defined below)
held by the Participants (as defined below) in 23 limited liability companies and limited partnerships (the “Contributing Entities”) and (ii) to have an option to acquire the interests owned by three limited liability
companies, including Owner (the “Option Entities”), which may be exercised only after the final resolution of certain ongoing litigation with respect to the real properties owned by such companies, as described in each Contributing
Entity’s or Option Entity’s Consent Solicitation Statement/Offering Memorandum or the Prospectus/Consent Solicitation Statement included in the registration statement on Form S-4 filed by the Company with the U.S. Securities and Exchange
Commission (the “SEC”), as applicable (each, a “Consent Solicitation”). Such litigation has been finally resolved. Such consolidations into the Company and/or the Operating Partnership will be completed prior to or
concurrently with the completion of the IPO (as more particularly described below and in the Consent Solicitations (collectively and together with the IPO, the “Consolidation Transaction”) pursuant to various contribution agreements
(the “Contribution Agreements”) by and among the Company, the Operating Partnership and the other parties thereto. 
 B.
WHEREAS, the Consolidation Transaction will entail, among other things, a series of contribution transactions, pursuant to which the Contributing Entities and/or their Participants will receive, as applicable, units of limited partnership interests
(the “OP Units”) to be issued by the Operating Partnership, shares of Class A Common Stock, shares of Class B Common Stock of the Company, par value $0.01 per share (the “Class B Common Stock” and, together
with the Class A Common Stock, the “Common Stock”), to be issued, in each case, by the Company in conjunction with the Consolidation Transaction and/or, to a limited extent, as described in the Consent Solicitations, cash,
which, to the extent received by the Contributing 

  
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Entities, will each be distributed to the Participants therein. The holders of a Participation Interest in a Contributing Entity or an Option Entity, as applicable, are referred to individually
as a “Participant” and collectively as the “Participants.” 
 C. WHEREAS, Owner is the ground lessee of
the premises known as 1400 Broadway, New York, New York (the “Property”) pursuant to that certain Indenture of Lease dated December 27, 1962 between The Prudential Insurance Company of America, as lessor (the
“Lessor”), and 1400 Broadway Associates L.L.C., as lessee (the “Ground Lease”), which was recorded in the office of the Register of the City of New York on December 28, 1962 in Liber 5214 at page 61. 

D. WHEREAS, the Operating Partnership agreed to hold an option to acquire the Assets as defined herein, and Owner agreed to grant such option,
on the terms set forth in the Original Agreement. 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein, the
Operating Partnership, the Company, and Owner hereby agree to make certain modifications to the Original Agreement by amending and restating the Original Agreement as follows: 

1. Definitions. 
 (a) The
following definitions shall apply: 
 (i) “Accredited Investor” means a Participant in Owner who is an accredited investor
as defined in Rule 501 of Regulation D under the Securities Act, as in effect at the time of such determination. 
 (ii)
“AEM” means Anthony E. Malkin. 
 (iii) “Affiliate” means, with respect to any Person, a Person that,
directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with the specified Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms
“controlled by” and “under common control with”) as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person,
whether through the ownership of voting securities, by agreement or otherwise. 
 (iv) “Appraiser” means any independent
third party appraiser with experience in valuation matters selected in accordance with Section 2(b) and Exhibit A hereto. 

(v) “Assets” has the meaning ascribed to it in Section 2(a). 

(vi) “Business Day” means any day that is not a Saturday, Sunday or legal holiday in the State of New York. 

  
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 (vii) “Case” means that certain case entitled 112-1400 Trade Properties LLC v.
1400 Broadway Associates L.L.C., commenced in the Supreme Court of the State of New York, County of New York, Index No 110428/08. 
 (viii)
“Claims” means any claims, liabilities, rights, actions, causes of action, allegations, assertions, suits, complaints, demands or requirements. 

(ix) “Closing” means the consummation of the acquisition of the Assets pursuant to the Option. 

(x) “Closing Date” has the meaning ascribed to it in Section 3(a). 

(xi) “Conclusion” means the final settlement, or the final adjudication after expiration of all appeal periods, of the Case,
which is agreed to have occurred for the purpose of this Agreement on July 29, 2013. 
 (xii) “Consideration” has the
meaning ascribed to it in Section 2(b) hereof. 
 (xiii) “Contracts” shall mean any and all brokerage agreements
related to the Subleases, service contracts, collective bargaining agreements and union contracts (but only with respect to personnel employed at the Property), to which the Property or any portion thereof or Owner may be subject, construction
contracts, licenses and permits for the use of any trademarked or copyrighted material, and all other agreements affecting any portion of the Property, which have not been terminated prior to the Closing. 

(xiv) “ERISA” shall mean The Employee Retirement Income Security Act of 1974, as amended. 

(xv) “Excluded Assets” has the meaning ascribed to it in Section 2(a)(ii). 

(xvi) “Existing Loans” has the meaning ascribed to it in Section 4(ee). 

(xvii) “Ground Lease” has the meaning ascribed to it in the Recitals. 

(xviii) “Helmsley” has the meaning ascribed to it in the introductory paragraph hereof. 

(xix) “Independent Director” means a director of the Company who is an independent director as defined under the rules of the
New York Stock Exchange or other national securities exchange on which the Class A Common Stock is listed. 
 (xx)
“IPO” has the meaning ascribed to it in the Recitals. 
 (xxi) “IPO Price” means the price per share of
Class A Common Stock in the IPO. 

  
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 (xxii) “Knowledge” means, with respect to Owner, any Subsidiary of Owner, the
Company or the Operating Partnership, the current actual knowledge of any Principal or Thomas N. Keltner, Jr. without any duty of investigation or inquiry. 

(xxiii) “Lessor” has the meaning ascribed to it in the Recitals. 

(xxiv) “Lien” means all pledges, claims, liens, charges, restrictions, controls, easements, rights of way, exceptions,
reservations, leases, licenses, grants, covenants and conditions, encumbrances and security interests of any kind or nature whatsoever. 

(xxv) “Management Companies” shall mean Malkin Holdings LLC, Malkin Properties, L.L.C., Malkin Properties of New York,
L.L.C., Malkin Properties of Connecticut, Inc. and Malkin Construction Corp. 
 (xxvi) “Material Adverse Effect” means, as
the case may be, a material adverse effect on (i) the assets, business, financial condition or results of operations of Owner taken as a whole (or on the applicable interest in the Property) (as to the representations and warranties
relating to Owner) or (ii) the Company, the Operating Partnership and their Subsidiaries and their properties taken as a whole, after giving effect to the Consolidation Transaction and the IPO (as to the representations and warranties
relating to the Company and the Operating Partnership), as applicable. 
 (xxvii) “Net Working Capital” means current
assets of Owner (excluding cash and cash equivalents, except to the extent required to maintain the normalized level of working capital for Owner) less current liabilities of Owner (excluding the outstanding principal balance under any
Existing Loans). 
 (xxviii) “Non-Accredited Investor” means a Participant who is not an Accredited Investor. 

(xxix) “OP Agreement” means the agreement of limited partnership of the Operating Partnership, as amended and restated and in
effect immediately prior to the closing of the IPO. 
 (xxx) “Operating Partnership” has the meaning ascribed to it in the
introductory paragraph hereof. 
 (xxxi) “Option” has the meaning ascribed to it in Section 2(a)(i) hereof. 

(xxxii) “Option Term” has the meaning ascribed to it in Section 2(a)(iii) hereof. 

(xxxiii) “OP Units” has the meaning ascribed to it in the Recitals. 

  
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 (xxxiv) “Owner” has the meaning ascribed to it in the introductory paragraph
hereof. 
 (xxxv) “Owner’s Appraiser” has the meaning ascribed to it in Section 2(b)(ii) hereof. 

(xxxvi) “Participation Interests” means the limited liability company, general or limited partnership interests in Owner, any
other option entity or any Contributing Entity, as applicable and, to the extent a limited liability company, general or limited partnership interests are held by an agent for the benefit of participants, the beneficial ownership of such interests.

 (xxxvii) “Permitted Encumbrances” means (i) Liens, or deposits made to secure the release of such Liens, securing
taxes, the payment of which is not delinquent or the payment of which is actively being contested in good faith by appropriate proceedings diligently pursued; (ii) zoning laws generally applicable to the districts in which the Property is
located; (iii) easements for public utilities, encroachments, rights of access and/or other non-monetary matters that do not materially interfere with the use of the Property; (iv) Liens securing any financing or credit arrangements
existing as of the Closing Date and assumed by the Operating Partnership; (v) Liens arising under leases entered into in the ordinary course of business; (vi) any exceptions contained in the title policies relating to the Property made
available to the Company and the Operating Partnership at or prior to November 28, 2011 that do not materially detract from the value or the marketability of the Property or the ability of the Property to be financed; (vii) the Liens of
all documents related to the Existing Loans and (viii) any matters that would not have a Material Adverse Effect. 
 (xxxviii)
“Person” means an individual, corporation, partnership, limited liability company, joint venture, association, trust, unincorporated organization or other entity. 

(xxxix) “PLM” means Peter L. Malkin. 

(xl) “Principals” means AEM, Scott D. Malkin and Cynthia M. Blumenthal. 

(xli) “Property” has the meaning ascribed to it in the Recitals. 

(xlii) “Registration Rights Agreement” means that certain registration rights agreement for the benefit of Participants in
the Contributing Entities and the Participants in Owner and the other Option Entities, as applicable, substantially in the form attached to the Consent Solicitations, provided, that if the Closing shall occur at any time following the closing
of the Consolidation Transaction, “Registration Rights Agreement” shall mean a separate registration rights agreement for the benefit of Participants in Owner, substantially in the form of such registration rights agreement for the benefit
of Participants in the Contributing Entities. 

  
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 (xliii) “Requisite Consent” has the meaning ascribed to it in
Section 4.II(z). 
 (xliv) “Securities Act” means the Securities Act of 1933, as amended. 

(xlv) “Subleases” shall mean all leases, subleases, licenses, and other occupancy agreements affecting the Property, except
the Ground Lease. 
 (xlvi) “Subsidiary” means any corporation, partnership, limited liability company, joint venture,
trust or other legal entity which the applicable Person owns (either directly or through or together with another Subsidiary) either (i) a general partner, managing member or other similar interest or (ii)(A) 50% or more of the voting
power of the voting capital stock or other equity interests or (B) 50% or more of the outstanding voting capital stock or other voting equity interests of such corporation, partnership, limited liability company, joint venture or other legal
entity. As used herein, “Subsidiary” or “Subsidiaries” refers to the Subsidiaries of Owner, the Company or the Operating Partnership, as applicable, unless the context otherwise requires. 

(xlvii) “Supervisor” means Malkin Holdings LLC or any of its Affiliates, in such Person’s capacity as the supervisor of
the Owner, the other Option Entities and each of the Contributing Entities, as applicable. 
 (xlviii) “Title Insurance
Company” means any reputable title insurance company licensed to conduct business in the State of New York. 
 (xlix)
“Valuation” means the establishment of the Consideration pursuant to Section 2(b) hereof. 
 (l) “Valuation
Date” means the date as of which the Consideration is determined pursuant to the Valuation or agreement, as applicable, in accordance with Section 2(b) hereof. 

2. Option; Consideration. 

(a) (i) Owner hereby grants to the Operating Partnership an option (the “Option”) to acquire Owner’s interest in the
leasehold estate created by the Ground Lease and all hereditaments thereto and all of Owner’s assets (other than Excluded Assets) as of the Valuation Date (collectively, the “Assets”) for the Consideration determined in
accordance with Section 2(b), subject to closing adjustments as provided herein. 
      (ii) Notwithstanding
the foregoing, the parties expressly acknowledge and agree that all assets and properties of Owner set forth on Schedule 2(a)(ii) shall be deemed “Excluded Assets” and not be contributed, transferred, assigned,
conveyed or delivered to the Operating Partnership pursuant to this Agreement, and the Operating Partnership shall not have any rights or obligations with respect thereto. On or prior to the Closing, Owner must distribute to its Participants all of
its cash (excluding from distributable cash (a) any reserves on deposit 

  
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with lenders for escrow accounts, (b) amounts attributable to prepayments of more than thirty-five (35) days of rent, management fees, other income streams or expense reimbursements,
(c) amounts held by Owner as security deposits or amounts otherwise required to be reserved by Owner pursuant to existing agreements with third parties and (d) cash in addition to the foregoing, if any, required to maintain a normalized
level (as determined in good faith by the Supervisor, or any successor thereto) of Net Working Capital of Owner (determined based on the most recent quarterly financial statement of Owner)) to its Participants in accordance with the provisions of
the applicable organizational documents of Owner (such assets being deemed part of the definition of “Excluded Assets”); provided, however, that other than the distributions by Owner and actions taken in connection with the
Consolidation Transaction, Owner has not since November 28, 2011 taken, and shall not take, any action other than actions in the ordinary course consistent with past practice to increase current assets or reduce current liabilities, including
by increasing long-term liabilities, decreasing long-term assets, changing reserves or otherwise. The Operating Partnership agrees and acknowledges that none of the Excluded Assets, nor any right, title or interest of Owner or any Participant
therein, shall be deemed to constitute a part of the assets and liabilities contributed to the Operating Partnership, and that such assets and liabilities will be retained by Owner at the Closing. The Operating Partnership agrees and acknowledges
that Owner must transfer or distribute the Excluded Assets to its Participants at any time and from time to time prior to or after the Closing and no such transfer or distribution shall be deemed to violate or breach any provision under this
Agreement or any other documents contemplated hereby; provided, that to the extent such distributions occur after Closing and Helmsley is no longer a Participant in Owner, any distributions in respect of Participation Interests in Owner
contributed, directly or indirectly, by any Helmsley entity to the Operating Partnership or its designee as contemplated hereby shall be assigned to such Helmsley entity or its designee. 

      (iii) The Option may be exercised during a term (the “Option Term”) which commenced
on the date of Conclusion and shall expire on the later of (1) twelve months after the Conclusion has occurred, and (2) five months after completion of the Valuation, which completion shall be not later than six months after the date of
the closing of the IPO; provided, however, that the Option Term shall in no event continue past the earlier of (a) December 31, 2014 if the Consolidation Transaction has not closed by such date and (b) the date on which
the Consolidation Transaction is abandoned pursuant to a determination of the pricing committee as described in the Consent Solicitation. Exercise of the Option shall be effected by notice (the “Exercise Notice”) from the Operating
Partnership to Owner provided in accordance with Section 9 hereof, provided such notice is given prior to the expiration of the Option Term, time being of the essence. Any such exercise must be approved by a majority of the Independent
Directors. 
 (b) (i) The dollar value of the consideration to be paid by the Operating Partnership for the Assets
(“Consideration”) shall be determined as follows: 
 (A) Within 60 days after the closing of the IPO, Owner and the
Operating Partnership shall commence the process for determining the value of the Consideration (the “Valuation”) in accordance with Exhibit A hereto and this Section 2(b), the provisions of which shall govern the
Valuation to determine the Consideration; provided, 

  
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however, that if the Option is exercised prior to the IPO, then (in lieu of the Valuation) the Consideration shall be Owner’s “Value” calculated in the manner set forth on
Schedule 2(b)(i)(A) hereto in accordance with the appraisal of Duff & Phelps LLC as described in the Consent Solicitations. The Option hereunder shall remain in force, regardless of how high or low a Consideration is thereby
determined. Contemporaneous with the commencement of the Valuation, Owner shall give the Operating Partnership a notice showing the names and allocable percentage interest in Owner held by each of its Non-Accredited Investors (the “Non-AI
List”) and its Accredited Investors (the “AI List”). The AI List shall state the election made by each Participant of Owner that is an Accredited Investor in the applicable Consent Solicitation for the Consideration to be
paid in OP Units or Common Stock; provided, however, that the form of Consideration payable to Owner and distributed to Participants in Owner shall be as provided in Section 3(a). 

(B) At any time when the Conclusion has occurred or is reasonably anticipated and subject to the first proviso in Section 2(b)(i)(A),
Owner and the Operating Partnership may engage in negotiations to agree mutually on the Consideration, it being understood that such agreement shall be subject to the approval of both Malkin (as defined below) and Helmsley on behalf of Owner. If at
any time Owner and the Operating Partnership shall agree upon the Consideration and other terms of sale of the Assets in a fully signed unconditional purchase agreement, they shall then jointly instruct the termination of any then pending Valuation
process. 
 (ii) The Appraiser designated by Owner pursuant to Exhibit A hereto (“Owner’s
Appraiser”) shall be selected jointly by PLM and AEM or their survivor (“Malkin”) so long as such designee meets the qualifications described in Section (b) of Exhibit A hereto and receives the prior
written approval of Helmsley, not to be unreasonably withheld or delayed; provided, however, that no Helmsley approval shall be required if the Appraiser selected by Malkin is one of the firms listed on Exhibit B hereto or any
successor to such firms, it being understood that any Malkin designation of CB Richard Ellis as Appraiser shall be effective only if permitting CB Richard Ellis to continue to serve as Helmsley’s adviser in respect of the Consolidation
Transaction on terms acceptable to Helmsley. 
 The Supervisor may provide information on behalf of Owner to Owner’s Appraiser,
provided that such information shall be limited to (x) historical financial and operating information and reports, signed leases and contracts, and real estate tax records, and (y) subject to Helmsley’s prior written approval, third
party reports relating to the Property which were generated prior to the Conclusion, the then current year’s operating and capital budgets for the Assets, any information provided to Duff & Phelps, LLC in connection with its valuation
and allocation report and its fairness opinion prepared for the Consent Solicitations and other information relating to the Property from the files of Owner, the Supervisor and its managing agent. All such information provided by the Supervisor to
Owner’s Appraiser shall be shared contemporaneously with Helmsley; provided that any materials provided pursuant to clause (y) shall be provided first to Helmsley in connection with obtaining its approval. In any event, the
Appraisers shall be given a copy of this Agreement. 
 (iii) Each of Owner and the Operating Partnership shall refrain from communication
with the involved professionals at the other’s Appraiser. AEM shall recuse himself from acting on behalf of the Operating Partnership or the Company in any negotiation and Valuation process. 

  
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 3. Closing. 

(a) By notice to Owner within 15 days after delivery of the Exercise Notice, the Operating Partnership shall designate (1) the place of
Closing in the City of New York, (2) the date of the Closing (the “Closing Date”) to be not sooner than 60 days, and not later than 90 days, after such notice, except that the Closing shall not in any event be sooner than the
date of the closing of the IPO and shall be conditioned on consummation of the IPO (provided, that, the foregoing shall in no way preclude the Operating Partnership from exercising the Option at any time during the Option Term) and (3) the form
of payment of the Consideration, subject to the following: 
 (i) If the Closing occurs following the IPO, (A) the Operating
Partnership must pay the same percentage of the Consideration in cash as the percentage share of Owner held by (1) Helmsley and (2) the Non-AI List, subject to any update of such List received by the Operating Partnership at least 30 days
prior to the designated Closing Date, and (B) the Operating Partnership shall pay the balance of the Consideration in accordance with the elections made by Accredited Investors (other than Helmsley) in Owner, as shown on the AI List;
provided, however, the Operating Partnership may elect to pay solely or partly in cash in lieu of OP Units and Common Stock as to all such Accredited Investors on a pro rata basis, if the average trading price of the Class A
Common Stock on the New York Stock Exchange or other national securities exchange on which the Class A Common Stock is listed for the 20 consecutive days preceding the date that is 10 days prior to the Closing Date, is below the IPO Price. The
aggregate number of OP Units and/or shares of Common Stock to be paid by the Operating Partnership to Owner shall equal the balance of the Consideration not paid in cash pursuant to this Section 3(a)(i) divided by the average trading price of
the Class A Common Stock on the New York Stock Exchange or other national securities exchange on which the Class A Common Stock is listed for the 20 consecutive days preceding the date that is 10 days prior to the Closing Date. 

(ii) If the Closing occurs simultaneously with the Consolidation Transactions and the IPO, then the Operating Partnership shall pay the
Consideration in the same manner as the consideration to be paid in the Consolidation Transaction as described in the Consent Solicitations in accordance with the elections made by Accredited Investors in Owner (including Helmsley), as shown on the
AI List. Non-Accredited Investors shall receive all cash. 
 (iii) All Consideration paid to Owner shall be distributed by Owner to its
Participants in accordance with the foregoing as soon as practicable after Closing. 
 (b) At the Closing, Owner shall convey marketable
title to the Assets (other than Excluded Assets), including the Ground Lease subject only to the Permitted Encumbrances and in connection therewith, deliver: 

  
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 (i) a Title Policy issued by a Title Insurance Company to the Operating Partnership or a
Subsidiary thereof, as ground lessor of the Property, effective as of the Closing, with respect to the Property containing exceptions only for Permitted Encumbrances; 

(ii) an estoppel certificate for the benefit of the Operating Partnership from the Lessor (or otherwise from Owner) to the effect that
the Ground Lease is in full force and effect without default, only to the extent received after Owner uses commercially reasonable efforts to obtain such estoppel certificates; 

(iii) certificate required under Section 1445 of the Internal Revenue Code of 1986, as amended, certifying that Owner is not a
“foreign person;” 
 (iv) an assignment of each of the Contracts to the Operating Partnership, without representation or warranty
except as expressly contained herein, in a form to be agreed between the Operating Partnership and Owner; provided, however the Operating Partnership shall assume Owner’s obligations under such Contracts, from and after the Closing Date; 

(v) (A) an assignment and assumption agreement in recordable form, conveying Owner’s estate in the Ground Lease to the Operating
Partnership, together with New York City and New York State real estate transfer tax forms duly executed and acknowledged; and (B) and an assignment, to the extent assignable, of each license and permit respecting the operation of the systems,
equipment and apparatus situated at the Property in Owner’s possession without representation or warranty except as expressly contained herein, provided, however, that the Operating Partnership shall assume Owner’s obligations under such
licenses and permits, from and after the Closing Date, in each case, in a form to be agreed between the Operating Partnership and Owner; 

(vi) an assignment and assumption of the Owner’s right, title and interest in the Subleases to the Operating Partnership, without
representation or warranty, and in the in a form to be agreed between the Operating Partnership and Owner, provided however, that the Operating Partnership shall assume Owner’s obligations under the Subleases from and after the Closing Date;

 (vii) originals of all Subleases in the possession of Owner or its managing agent as then are in effect and copies of all other Subleases
certified by Owner that to the best of its knowledge each such copy is a true and complete copy of the Sublease that such copy purports to be; 

(viii) [Intentionally Omitted.]; 

(ix) the Property’s managing agent’s records pertaining to the Subleases being assumed by the Operating Partnership or its designee
(excluding those deemed to be confidential by reason of any attorney-client privilege asserted by Owner) pertaining to the operation of the Property; 

  
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 (x) any estoppel certificates from each tenant at the Property occupying at least 10% of the
rentable square footage at the Property in the form required under such tenants’ respective lease or any other form reasonably satisfactory to the Operating Partnership, to the extent received after Owner uses commercially reasonable efforts to
obtain such estoppel certificates; 
 (xi) the Registration Rights Agreement; 

(xii) [Intentionally Omitted.] 

(xiii) A standard owner’s affidavit executed by Owner to the extent necessary to enable the Title Company to issue to the Operating
Partnership or its Subsidiary, effective as of the Closing, with respect to the Property, either (i) an ALTA extended coverage owner’s or leasehold policy of title insurance (in current form), with such endorsements thereto as the
Operating Partnership may reasonably request (including, without limitation, non-imputation endorsements) or (ii) such endorsements to the currently held owner’s or leasehold policy of title insurance for the Property as the Operating
Partnership may reasonably request (including, without limitation, date-down, “Fairway” and co-insurance endorsements), in either event with coverage for the Property equal to the an amount reasonably acceptable to the Operating
Partnership, and with a tie-in endorsement with respect to all Contributed Properties located in any state for which such tie-in endorsements can be issued for an owner’s or leasehold policy of title insurance, and levels of reinsurance for the
Property as reasonably acceptable to the Operating Partnership, insuring fee simple and/or leasehold title (as applicable) to all real property and improvements comprising the Property in the name of the Operating Partnership (or a Subsidiary
thereof, as the Operating Partnership may designate), subject only to the Permitted Encumbrances (collectively, the “Title Policies”); and 

(xiv) Lessor’s written consent to the conveyance of Owner’s estate under the Ground Lease as required under the Ground Lease. 

(c) At the Closing, the Company or the Operating Partnership, as the case may be, shall deliver the following documents to Owner and pay the
Consideration as provided in Sections 2(b) and 3(a): 
 (i) New York City and New York State real estate transfer tax forms duly executed
and acknowledged; 
 (ii) a duly executed and acknowledged counterpart of the assignment and assumption agreement, in a form to be agreed
between the Operating Partnership and Owner; 
 (iii) an assumption by Operating Partnership of the Owner’s obligations under the
Subleases, in a form to be agreed between the Operating Partnership and Owner; 
 (iv) an assumption of Owner’s obligations under the
Contracts in a form to be agreed between the Operating Partnership and Owner; 

  
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 (v) an assumption of Owner’s obligations under the licenses and permits respecting the
operation of systems, equipment and apparatus situated at the Property assigned to Operating Partnership, in a form to be agreed between the Operating Partnership and Owner; 

(vi) the OP Agreement and the Amendment (as defined in Section 5(e)) and the Articles of Amendment and Restatement of the Company; 

(vii) Evidence of the DTC Registered REIT Stock (as defined in Section 5(e)), which shall bear substantially the legend set forth in the
Articles of Amendment and Restatement of the Company or a written statement of information that the Company will furnish a full statement about certain restrictions on transferability to a stockholder as set forth in the Articles of Amendment and
Restatement of the Company on request and without charge 
 (viii) the Registration Rights Agreement; 

(ix) evidence of the authority of the Company and the Operating Partnership to consummate this transaction and proof of its legal subsistence
as an entity; 
 (x) an agreement in the form reasonably acceptable to Owner and Operating Partnership pursuant to which Operating
Partnership shall agree to perform the covenants hereunder intended to survive the Closing; 
 (xi). a release executed by Operating
Partnership and the Company in favor of the employees and Affiliates of the Supervisor in the form attached as Exhibit C hereto; and 

(xii) an assignment of Excluded Assets from the Company, the Operating Partnership or a Subsidiary thereof, as applicable, in favor of Owner,
to the extent not distributed prior to Closing, to achieve the distributions contemplated under Section 2(a)(ii), if applicable. 
 (d)
On the Closing Date: 
 (i) Consideration shall be increased by the amount of any Net Working Capital (determined based on the most recent
quarterly financial statement of Owner) remaining after the cash distributions to Participants in Owner described in Section 2(a)(ii) in excess of the normalized level of Net Working Capital for Owner, as determined in good faith by the
Supervisor. 
 (ii) The Consideration shall be decreased by the amount of any Net Working Capital (determined based on the most recent
quarterly financial statement of Owner) remaining after the cash distributions to Participants in Owner described in Section 2(a)(ii) that is less than the normalized level of Net Working Capital for Owner, as determined in good faith by the
Supervisor. 
 (e) [Intentionally Omitted.] 

  
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 (f) If any party shall discover any error in the computation of any closing adjustment, such
error shall be corrected promptly following notification thereof by the discovering party to the other (provided, that such notification shall be given within thirty (30) days following the discovery thereof but not later than one (1) year
following the Closing Date) and an appropriate payment to correct the same shall then be made. 
 (g) The Operating Partnership shall use
commercially reasonable efforts (including billing any unbilled rents which shall have accrued prior to the Closing Date) to collect all rents due for any period prior to the Closing Date and shall promptly after collection of the same, pay them
(less reasonable costs of collection) to Owner to the extent that the same have not theretofore been otherwise paid to Owner. Owner may, after the Closing, pursue any legal action or proceeding (except for eviction proceedings) against any
tenant who shall be in arrears of any rent as of the Closing Date or which shall not then be in arrears but shall thereafter be due with respect to any such period. The Operating Partnership shall deliver to Owner, monthly, for a period of two
(2) years following the Closing Date, reasonably detailed reports setting forth the status of the Operating Partnership’s collection efforts. 

(h) If there shall be pending as of the Closing Date real estate tax certiorari or other proceedings or protests to reduce the real estate
taxes, assessments, valuations or other impositions on the Property or any portion thereof, the Operating Partnership shall assume at Owner’s election and Operating Partnership’s cost the prosecution of such proceedings for the benefit of
Owner and the Operating Partnership, as attributable to the respective ownership period of each. Owner may prosecute such proceedings or protests using counsel, if any, retained by Owner in connection with such proceedings or protests until a final
determination has been rendered. If such determination shall result in a refund or credit, then the net amount of such refund or credit shall be adjusted in accord with the provisions of this Section 3(h); 

(i) At the Closing, Owner shall, as appropriate, (i) at the option of Owner (x) deliver one or more official bank checks payable to
the order of the Operating Partnership in the amount of the security deposits under the Subleases and the interest earned thereon or (y) credit the Operating Partnership with the amounts thereof and (ii) assign to the Operating Partnership
at the Closing all non-cash security deposits under the Subleases. If any of such security deposits shall be in the form of certificates of deposit, letters of credit or other non-cash instruments, Owner shall bear any transfer fees that may be
levied in connection with any such assignment. Owner shall use commercially reasonable efforts to deliver at Closing all completed and signed forms, which shall be required by the issuer of such non-cash instruments. For the purposes of this
Section 3(i), the amount of any such security deposits (whether in cash or other form) shall be that amount still retained by Owner after applying any such security deposit in accordance with the relevant Lease to the extent permitted
thereunder and retention by Owner of any portion of interest earned any security deposit which under law a landlord under any lease may have retained as a service fee or otherwise. 

(j) Owner shall pay the State of New York and New York City transfer taxes imposed in connection with the conveyance of the leasehold estate
under the Ground Lease pursuant to this Agreement; provided, that Helmsley shall be given reasonable opportunity to avail itself of any exemption therefrom including by way of the transfer of the equity interests in

  
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the Helmsley entity that holds the Participation Interest in Owner or such Participation Interest directly to the Operating Partnership, all on the basis that any resulting savings shall be for
the account of Helmsley, which shall indemnify Owner and its successors from any liability in respect of any underpayment of tax arising in respect of such exemption. To the extent Helmsley elects to transfer such equity interests or its
Participation Interest in Owner to the Operating Partnership, the Company, the Operating Partnership and the applicable Helmsley entities shall enter into a contribution agreement, on substantially the same terms as set forth in the Helmsley
Contribution Agreement attached as Exhibit D to be entered into in connection with the Consolidation Transaction (including with respect to indemnification) but reflecting the Consideration distributable to Helmsley pursuant to this
Agreement. 
 (k) The Operating Partnership shall pay the following expenses: 

(i) premiums and costs for any endorsements to an Owner’s ALTA title insurance policy and any lender’s title insurance policy
including any endorsements; 
 (ii) the cost of obtaining any update to any existing survey or a new survey of the Property; 

(iii) the premium for any gap insurance; 

(iv) all costs relating to any financing obtained by the Operating Partnership to consummate the transactions contemplated by this Agreement;
and 
 (v) all other costs and expenses it and Owner have incurred in connection with the transactions contemplated hereby, the
Consolidation Transaction or the IPO and all costs and expenses incident to this Agreement, the other documents contemplated by this Agreement and the documents and transactions contemplated hereby or thereby, and not specifically described above,
in each case, only if (i) the Consolidation Transaction has closed and (ii) the Requisite Consent (as defined below) of the Participants in Owner to approve this Agreement has been received. 

(l) In the event that the Consolidation Transaction does not close, each party hereto shall bear its own attorney’s legal charges with
respect to the transactions to be consummated pursuant hereto. 
 (m) Owner shall request that the lenders holding the mortgages encumbering
the Property on the Closing Date be assigned to the Operating Partnership’s lender, and any resulting savings in mortgage recording tax shall be divided equally between Owner and the Operating Partnership. 

Any or all of the foregoing conditions may be waived by the Owner or the Operating Partnership (on its behalf and on behalf of the Company),
as the case may be, in its sole and absolute discretion. 

  
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 4. Representations. 

I. Representations and Warranties with Respect to the Company and the Operating Partnership. The Operating Partnership and the Company
hereby jointly and severally represent and warrant to Owner, as of November 28, 2011, as set forth below in this Section 4, which representations and warranties are true and correct as of November 28, 2011: 

(a) Organization; Authority. 

(i) The Company is a corporation duly incorporated, validly existing and in good standing under the Laws of its jurisdiction of incorporation
and has all requisite power and authority to enter into this Agreement and each agreement or other document contemplated by this Agreement and to carry out the transactions contemplated hereby or thereby, and to own, lease and/or operate its
property, as applicable, and its other assets, and to carry on its business as presently conducted. The Company, to the extent required under applicable Laws, is qualified to do business and is in good standing in each jurisdiction in which the
nature of its business or the character of its property make such qualification necessary, other than such failures to be so qualified as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(ii) The Operating Partnership is a limited partnership duly formed, validly existing and in good standing under the Laws of its jurisdiction
of formation and has all requisite power and authority to enter into this Agreement and each agreement or other document contemplated by this Agreement and to carry out the transactions contemplated hereby or thereby, and to own, lease and/or
operate its property, as applicable, and its other assets, and to carry on its business as presently conducted. The Operating Partnership, to the extent required under applicable Laws, is qualified to do business and is in good standing in each
jurisdiction in which the nature of its business or the character of its property make such qualification necessary, other than such failures to be so qualified as would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
 (b) Due Authorization. The execution, delivery and performance by the Company and the Operating
Partnership of this Agreement and each other agreement or document contemplated by this Agreement to which it is a party have been duly and validly authorized by all necessary actions required of the Company and the Operating Partnership,
respectively. This Agreement and each other agreement or document contemplated by this Agreement executed and delivered by or on behalf of the Company and the Operating Partnership constitutes, or when executed and delivered will constitute, the
legal, valid and binding obligation of the Company and the Operating Partnership, respectively, each enforceable against the Company and the Operating Partnership, respectively, in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium and similar Laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 (c) Litigation. There is no action, suit or proceeding pending or, to the Company’s or the Operating Partnership’s
Knowledge, threatened against the Company, the Operating Partnership or any of its Subsidiaries which, if adversely determined, would, 

  
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individually or together with all such other actions, reasonably be expected to have a Material Adverse Effect. As of November 28, 2011, there was no action, suit or proceeding pending or,
to the Company’s or the Operating Partnership’s Knowledge, threatened against the Company, the Operating Partnership or any of its Subsidiaries which challenges or impairs the ability of the Company, the Operating Partnership or any of its
Subsidiaries to execute, deliver or perform its obligations under any of the Closing Documents or to consummate the transactions contemplated hereby and thereby. 

(d) Consents and Approvals. Assuming the accuracy of the representations and warranties of Owner made hereunder, no consent, order,
waiver, approval or authorization of, or registration, qualification, designation, declaration or filing with, any Person or Governmental Authority or under any applicable Laws (each, a “Consent”) is required to be obtained by
the Company, the Operating Partnership or any of their Subsidiaries in connection with the execution, delivery and performance of this Agreement or any other agreement or document contemplated by this Agreement to which the Company or the Operating
Partnership is a party, or any agreements or transactions contemplated hereby or thereby, except for those consents, orders, waivers, approvals, authorizations, registrations, qualifications, designations, declarations or filings, the failure of
which to obtain or to file, would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (e)
No Violation. Assuming the accuracy of the representations and warranties of Owner made hereunder, none of the execution, delivery or performance by the Company or the Operating Partnership of this Agreement or any other agreement or document
contemplated by this Agreement to which the Company or the Operating Partnership is a party, or any agreement or transaction contemplated hereby or thereby or the consummation of the Consolidation Transaction does or will, with or without the giving
of notice, lapse of time, or both, violate, conflict with, result in a breach of, or constitute a default under or give to others any right of termination, acceleration, cancellation or other right under, (i) the organizational documents of the
Company and the Operating Partnership, (ii) any material agreement, document or instrument to which the Company or the Operating Partnership is a party or (iii) any material term or provision of any judgment, order, writ, injunction, or
decree binding on the Company or the Operating Partnership, except for, in the case of clause (ii) or (iii), any such breaches or defaults that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect. 
 (f) OP Units and Common Stock. The OP Units and the Common Stock, when issued and delivered in accordance with the terms of
this Agreement for the consideration described in this Agreement, will have been (i) duly authorized by the Company or the Operating Partnership, as applicable, and when issued against the consideration therefor, will be validly issued by the
Company or the Operating Partnership, respectively, (ii) fully paid and non-assessable (with respect to the Common Stock), (iii) not subject to preemptive or similar rights created by statute or any agreement to which the Company or the
Operating Partnership is a party or by which it is bound and (iv) free and clear of all Liens created by the Company or the Operating Partnership (other than Liens created by the OP Agreement or the Company’s Articles of Amendment and
Restatement). In addition, upon such issuance of OP Units, Owner will be admitted as a limited partner of the Operating Partnership and, following distribution by Owner of OP Units to its Participants, such Participants will be admitted as limited
partners of the Operating Partnership in accordance with the OP Agreement. 

  
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 (g) OP Agreement and Articles. Attached hereto as Exhibit E are true and
correct copies of the OP Agreement and the Articles of Amendment and Restatement of the Company in substantially final form. 
 (h)
Taxes. 
 (i) At the effective time of the Closing, the Company shall be organized in a manner so as to qualify for taxation as a
REIT pursuant to Sections 856 through 860 of the Code. The Company intends to elect to be taxed and to operate in a manner that will allow it to qualify as a REIT for U.S. federal income tax purposes commencing with its taxable year ending
December 31 of the year in which the Closing takes place. 
 (ii) At the effective time of the Closing, the Operating Partnership shall
be classified as a partnership and not an association or publicly-traded partnership taxable as a corporation for U.S. federal income tax purposes. 

(i) Bankruptcy. No bankruptcy or similar insolvency proceeding has been filed or is currently contemplated with respect to the Company,
the Operating Partnership or any of its Subsidiaries. 
 (j) Limited Activities. Except for activities in connection with the IPO and
Consolidation Transaction, neither the Company nor the Operating Partnership has engaged in any material business or incurred any material obligations. 

(k) No Broker. None of the Company, the Operating Partnership, any of their Subsidiaries, or any of their officers, directors or
employees, to the extent applicable, has entered into any agreement with any broker, finder or similar agent or any Person or firm that will result in the obligation of Owner or any of its Affiliates to pay any finder’s fee, brokerage fees or
commissions or similar payment in connection with the transactions contemplated by this Agreement. 
 (l) The Operating Partnership is not
and shall not be as of the Closing Date an employee benefit plan as defined in Section 3(30) of ERISA, which is subject to Title I of ERISA, nor a plan as defined in Section 4975(e)(1) of the Internal Revenue Code of 1986, as
amended, and neither the assets of the Company nor those of the Operating Partnership shall not constitute “plan assets” of one or more of such plans within the meaning of Department of Labor Regulation Section 2510.3-101. 

(m) No Other Representations or Warranties. Other than the representations and warranties expressly set forth in this Section 4.I,
neither the Company nor the Operating Partnership shall be deemed to have made any other representation or warranty in connection with this Agreement or the transactions contemplated hereby. 

All representations and warranties of the Company and the Operating Partnership contained in this Agreement shall expire at Closing. 

  
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 II. Representations and Warranties of Owner. Owner hereby represents and warrants to the
Company and the Operating Partnership, as of November 28, 2011, as set forth below in this Section 4.II, which representations and warranties are true and correct as of November 28, 2011 (or such other date specifically set forth
below), except as disclosed in the Consent Solicitations or the disclosure letter delivered from Owner to the Company and the Operating Partnership simultaneously with the execution of this Agreement (the “Disclosure Letter”), as
may be amended from time to time prior to the Closing Date with Consent of the Company and the Operating Partnership. 
 (n) Organization;
Authority. Owner is a limited liability company, duly organized and validly existing and in good standing under the laws of its jurisdiction of organization and has all requisite power and authority to enter into this Agreement and each
agreement or other document contemplated by this Agreement and to carry out the transactions contemplated hereby and thereby, and to own, lease and/or operate its Property, as applicable, and its other assets, and to carry on its business as
presently conducted. Owner, to the extent required under applicable laws, is qualified to do business and is in good standing in each jurisdiction in which the nature of its business or the character of its Property make such qualification
necessary, other than such failures to be so qualified as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(o) Section 4.II(o) of the Disclosure Letter sets forth as of November 28, 2011 with respect to Owner (A) each Subsidiary of
Owner, if applicable, (B) the ownership interest in each such Subsidiary and (C) if not wholly owned by Owner, the identity and ownership interest of each of the other owners of such Subsidiary. Owner is the ground lessee of the Property
pursuant to the Ground Lease. Each Subsidiary of Owner has been duly organized and is validly existing and in good standing under the Laws of its jurisdiction of organization, and has all power and authority to own, lease and/or operate its real
properties and its other assets, and to carry on its business as presently conducted. Each Subsidiary of Owner, to the extent required under applicable Laws, is qualified to do business and is in good standing in each jurisdiction in which the
nature of its business or the character of its Property make such qualification necessary, other than such failures to be so qualified as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(p) Due Authorization. The execution, delivery and performance by Owner of this Agreement and each other agreement or document
contemplated by this Agreement to which it is a party has been duly and validly authorized by all necessary actions required of Owner. This Agreement and each other agreement or document contemplated by this Agreement executed and delivered by or on
behalf of Owner constitutes, or when executed and delivered will constitute, the legal, valid and binding obligation of Owner, each enforceable against Owner in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium and similar laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity). 

(q) Capitalization. Section 4.II(q) of the Disclosure Letter sets forth as of November 28, 2011 a true, correct and complete
description of the capitalization of Owner as provided in the books and records of Owner, including the override interests of the Supervisor. 

  
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All of the issued and outstanding equity interests of Owner are validly issued and, to Owner’s Knowledge, are not subject to preemptive rights or appraisal, dissenters or similar rights.
There are no outstanding rights to purchase, subscriptions, warrants, options or any other security convertible into or exchangeable for equity interests in Owner or any Subsidiary. 

(r) Licenses and Permits. To Owner’s Knowledge, all notices, licenses, permits, certificates and authorizations required for the
continued use, occupancy, management, leasing and operation of its Property, and for the continued conduct and operation of the business of Owner have been obtained or can be obtained without unreasonable cost, and to the extent the same have been
obtained, are in full force and effect and (to the extent required in connection with the transactions contemplated by this Agreement) are assignable to Company or the Operating Partnership or a Subsidiary thereof, except in each case for items
that, if not so obtained, obtainable, effective and/or assigned, would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. To Owner’s Knowledge, none of Owner, any if its Subsidiaries or any third
party has taken any action that (or failed to take any action the omission of which) would result in the revocation of any such notice, license, permit, certificate or authorization where such revocation or revocations would, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 (s) Litigation. Except for the Case, there is no action, suit
or proceeding pending or, to Owner’s Knowledge, threatened against Owner or any if its Subsidiaries which, if adversely determined, would, individually or together with all such other actions, reasonably be expected to have a Material Adverse
Effect. As of November 28, 2011, there was no action, suit or proceeding pending or, to Owner’s Knowledge, threatened against Owner or any of its Subsidiaries which challenges or impairs the ability of Owner or any of its Subsidiaries to
execute, deliver or perform its obligations hereunder or to consummate the transactions contemplated hereby. To Owner’s Knowledge, there is no outstanding order, writ, injunction or decree of any Governmental Authority against it or affecting
all or any portion of the Assets, which in any such case would reasonably be expected to have a Material Adverse Effect or that would impair Owner’s ability to execute, deliver or perform its obligations under this Agreement. Owner has not
received any written notice of any pending or threatened proceedings for the rezoning (i.e., as opposed to the current zoning) of the Property or any portion thereof which would substantially and materially impair the current or proposed use
thereof. 
 (t) Compliance with Laws. Owner and its Subsidiaries have conducted their respective businesses and maintained the
Property in compliance with all applicable Laws, except for such failures that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Neither Owner nor any of its Subsidiaries has Knowledge of, or has
been informed in writing of, any continuing violation of any laws relating to the conduct of the business of Owner and/or any of its Subsidiaries or the commencement of any investigation respecting any such possible violation, except in each case
for violations that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. To Owner’s Knowledge, as presently conducted, none of the operation of the buildings, fixtures and other improvements
comprising a part of the Property is in violation of any applicable building code, zoning ordinance or other “land use” law, except for such violations that would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 

  
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 (u) Property Interest. 

(i) Owner is the holder of a valid ground leasehold estate in the Property pursuant to the Ground Lease, free and clear of all Liens, except
for Permitted Encumbrances. 
 (ii) With respect to the Ground Lease and each lease under which Owner was a landlord or sublandlord at
November 28, 2011 that is material to the Property, (A) such lease is valid and binding against Owner, and to Owner’s Knowledge, the other parties thereto, and in full force and effect, (B) neither Owner nor any Subsidiary party
thereto, and to the Owner’s Knowledge, no other party thereto is in material violation of, or material default under, such lease, (C) Owner has not granted an option or a right of first refusal or offer, (D) to Owner’s Knowledge,
no event has occurred and is pending, which, after the giving of notice, with lapse of time, or otherwise, would constitute a material breach or material default by Owner or any of its Subsidiaries or the applicable lessor under the relevant lease
and (E) complete (in all material respects) copies of all such leases have been made available to the Operating Partnership. 
 (v)
Leases. Except for matters that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, each of the leases to which Owner or any of its Subsidiaries is a party or by which Owner or any of its
Subsidiaries or the Property is bound or subject, is in full force and effect, and constitutes the legal, valid and binding obligation of Owner or any of its Subsidiaries, and to Owner’s Knowledge, the other parties thereto, enforceable against
each such party in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity
(regardless of whether enforcement is sought in a proceeding at law or in equity). To Owner’s Knowledge, no tenant under any such Lease is presently the subject of any voluntary or involuntary bankruptcy or insolvency proceedings, except for
matters that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (w) Insurance.
Owner has in place the public liability, casualty and other insurance coverage with respect to the Property by such Owner as Owner reasonably deems necessary, including in all cases, such coverage as is required under the terms of any Existing Loan
or the Ground Lease. To Owner’s Knowledge, each such insurance policy is in full force and effect and all premiums currently due and payable thereunder have been fully paid. To Owner’s Knowledge, Owner has not received from any insurance
company any written notices of cancellation or intent to cancel any insurance which remain outstanding. 
 (x) Environmental Matters.
Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect: (i) Owner is not in violation of, and has not failed to comply with, any applicable environmental laws, (ii) neither Owner nor
any of its Subsidiaries has received any written notice from any governmental authority or any other written notice or written claim from any other party alleging that Owner is not in compliance with applicable environmental laws with respect to the
Property (which non-compliance, if any, has not been remedied or resolved or is not being remedied or resolved), (iii) Owner or its Subsidiaries, as applicable, has all permits, authorizations and approvals

  
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required under any applicable environmental laws and is in compliance with their principal terms and conditions and (iv) there has not been a release of a hazardous substance on the Property
that would require investigation or remediation under applicable environmental laws. The representations and warranties contained in this subsection constitute the sole and exclusive representations and warranties made by Owner concerning
environmental matters. 
 (y) Eminent Domain. There is no existing or, to Owner’s Knowledge, threatened in writing condemnation,
eminent domain or similar proceeding which would affect the Property. 
 (z) Consents and Approvals. The requisite consent of the
Participants in Owner to approve this Agreement is as set forth on Section 4.II(z) of the Disclosure Letter (the “Requisite Consent”). Assuming the accuracy of the representations and warranties of the Company and the Operating
Partnership made hereunder, and except (i) for the Requisite Consent of the Participants in Owner to approve this Agreement, (ii) for the consent of Lessor contemplated in Section 3(b)(xiv) above and (iii) as shall have been
satisfied on or prior to the Closing Date, no consent is required to be obtained by Owner in connection with the execution, delivery and performance of this Agreement or any other agreement or document contemplated by this Agreement to which Owner
is a party and the transactions contemplated hereby, except for those consents, the failure of which to obtain or to file, would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect (it being agreed that
the failure to obtain either (A) the consent of any mortgage lender or (B) the foregoing Requisite Consent of Participants in Owner would be expected to have a Material Adverse Effect). 

(aa) No Violation. Assuming the accuracy of the representations and warranties of the Company and the Operating Partnership made
hereunder, none of the execution, delivery or performance by Owner of this Agreement or any other agreement or document contemplated by this Agreement to which Owner is a party, or any agreement or transaction contemplated hereby or thereby or the
consummation of the Consolidation Transaction contemplated hereby between the parties to this Agreement does or will, with or without the giving of notice, lapse of time, or both, violate, conflict with, result in a breach of, or constitute a
default under or give to others any right of termination, acceleration, cancellation or other right under, (i) the organizational documents of Owner, (ii) any material agreement, document or instrument to which Owner or its assets or
properties are bound or (iii) any material term or provision of any judgment, order, writ, injunction, or decree binding on Owner, except for, in the case of clause (ii) or (iii), any such breaches or defaults that would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (bb) Taxes. Except as would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect: 
 (i) Owner has timely filed all tax returns and reports required
to be filed by it with a governmental authority (after giving effect to any filing extension properly granted). All such tax returns and reports are accurate and complete in all material respects, and Owner has paid (or had paid on its
behalf) all taxes shown thereon as owing. No deficiencies for any taxes have been proposed, asserted or assessed in writing against Owner, and no requests for waivers of the time to assess any such Taxes are pending. 

  
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 (ii) There are no liens for taxes (other than statutory liens for taxes not yet due and payable)
upon any of the assets of Owner. 
 (iii) Owner is and has been since its formation treated as a partnership or an entity disregarded as an
entity separate from its owner for U.S. federal income tax purposes, and no governmental authority responsible for the assessment or collection of tax has challenged such treatment. 

(iv) There are no pending or, to Owner’s Knowledge, threatened audits, assessments or other actions for or relating to any liability in
respect of income or material non-income Taxes of Owner or any of its Subsidiaries, or any matters under discussion with any Tax authority with respect to income or non-income Taxes that are likely to result in an additional liability for Taxes with
respect to Owner or its Subsidiaries, and neither Owner nor its Subsidiaries is, or has ever been, a party to or bound by any Tax indemnity agreement, Tax sharing agreement, Tax protection, Tax allocation agreement or similar contract. 

(cc) Non-Foreign Status. Owner (or, if Owner is a disregarded entity within the meaning of Section 1.1445-2(d)(2)(iii), its sole
owners for U.S. federal income tax purposes) is not a foreign person (within the meaning of Section 1445(f)(3) of the Code). No amount is required to be withheld by the Company or the Operating Partnership (or any of their respective
Affiliates) in respect of consideration treated for U.S. federal income tax purposes as paid to Owner pursuant to this Agreement. 

(dd) Contracts and Commitments. Except as set forth in Section 4.II(dd) of the Disclosure Letter, neither Owner nor any of its
Subsidiaries is a party to: 
 (i) any agreement pursuant to which Owner or any of its Subsidiaries provides property management,
construction management, asset management, leasing or other real-estate related services to any Person other than a Contributing Entity or a Management Company; 

(ii) any agreement pursuant to which Owner or any of its Subsidiaries would be required to pay severance to any member, managing member,
partner, general partner, director, officer or employee, to the extent applicable, of Owner, any of its Subsidiaries or the Supervisor; 

(iii) any agreement with another Person limiting or restricting in any material respect the ability of Owner or any of its Subsidiaries to
enter into or engage in any market or line of business (other than agreements with tenants entered into in the ordinary course of business relating to the business that can be conducted at the leased premises and the covenants in any Existing Loan
document); 
 (iv) any agreement for the sale of any of the assets of Owner or any of its Subsidiaries other than in the ordinary course of
business, or for the grant to any person or entity of any Liens on or preferential rights to purchase (or buy-sell or similar rights with respect to) any of the assets of Owner or any of its Subsidiaries other than Liens or any such rights granted
to tenants or other third parties for non-material portions of the Property (e.g., outparcels); 

  
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 (v) any agreement involving any joint venture, partnership, strategic alliance,
shareholders’ agreement, co-marketing, co-promotion, joint development or similar arrangement, except for the Owner’s organizational documents, any agreement with any other Contributing Entity or Management Company and any such agreements
that are terminable upon thirty (30) days’ or less notice without penalty or premium; or 
 (vi) any other agreement (or group of
related agreements) the performance of which presently requires aggregate payments be made from Owner or any of its Subsidiaries in excess of $1,000,000 per year other than to its Affiliates. 

With respect to each of the contracts to which Owner or any of its Subsidiaries is a party and which is required to be set forth on Section 4.II(dd) of
the Disclosure Letter (the “Material Contracts”), such Material Contract is in full force and effect and is the legal, valid and binding obligation of Owner or its Subsidiaries, and, to Owner’s Knowledge, the other parties
thereto, as applicable, enforceable against them in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors’ rights generally and subject, as to enforceability, to
general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity). Complete (in all material respects) copies of the Material Contracts have been made available to the Operating Partnership. With
respect to each Material Contract, neither Owner nor any of its Subsidiaries that is party thereto nor, to Owner’s Knowledge, any other party, is in material breach or material violation of, or material default under, any such Material
Contract, and to Owner’s Knowledge, no event has occurred and is pending which after the giving of notice, with lapse of time or otherwise would constitute a material breach or material default by Owner, any of its Subsidiaries or any other
party to such Material Contract. 
 (ee) Existing Loans. Section 4.II(ee) of the Disclosure Letter sets forth financings
encumbering the properties (the “Existing Loans”), including in each case the names of the lender and borrower thereunder and the outstanding principal balance as of the date that is six months prior to the Closing Date. With
respect to each Existing Loan, (i) the lender has not declared in writing a default or event of default, (ii) the lender has not brought any claim in writing under any guaranty and (iii) to Owner’s Knowledge, no event has
occurred which, after the giving of notice, with lapse of time, or otherwise, would constitute a monetary default or a material non-monetary default by the borrower thereunder or give rise to any material claims by the lender under any guaranties
provided with respect thereto. Complete (in all material respects) copies of the Existing Loan Documents have been made available to the Operating Partnership. 

(ff) Bankruptcy. No bankruptcy or similar insolvency proceeding has been filed or is currently contemplated with respect to Owner or any
of its Subsidiaries. 
 (gg) Employees. Owner has no employees. 

(hh) Investment. 

  
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 (i) Owner is acquiring Common Stock and/or OP Units solely for its own account for the purpose
of investment and not as a nominee or agent for any other person or entity and with a view to, or for offer or sale in connection with, any distribution of any thereof in violation of U.S. federal securities laws, except for distributions of Common
Stock and OP Units to Participants in Owner who Owner reasonably believes, which shall be based on representations made by such Participants to Owner, are Accredited Investors. Owner agrees and acknowledges that, except as set forth in the preceding
sentence, it will not, directly or indirectly, offer, transfer, sell, assign, pledge, hypothecate or otherwise dispose of (hereinafter, “Transfer”) any of the Common Stock or OP Units, unless (i) the Transfer is pursuant to an
effective registration statement under the Securities Act (or an exemption from such registration in accordance with clause (ii) below) and qualification or other compliance under applicable blue sky or state securities laws,
(ii) counsel for the transferor (which counsel shall be reasonably acceptable to the Company or and/or the Operating Partnership, as the case may be) shall have furnished the Company and/or the Operating Partnership with an opinion, reasonably
satisfactory in form and substance to the Company and/or the Operating Partnership, as the case may be, to the effect that no such registration is required because of the availability of an exemption from registration under the Securities Act and
(iii) the Transfer otherwise is permitted by the amendment and restatement of the Company and/or the Operating Partnership’s Partnership Agreement. The term “Transfer” shall not include any redemption or exchange of the
OP Units for Common Stock pursuant to the Operating Partnership’s Partnership Agreement. Notwithstanding the foregoing, no Transfer shall be made unless it is permitted under the Operating Partnership’s Partnership Agreement. 

(ii) Owner is knowledgeable, sophisticated and experienced in business and financial matters and fully understands the limitations on transfer
imposed by the federal securities laws. Owner is able to bear the economic risk of holding the Common Stock and/or OP Units for an indefinite period and is able to afford the complete loss of its investment in the Common Stock and/or OP Units. Owner
has received and reviewed all information and documents about or pertaining to the Operating Partnership and the business and prospects of the Operating Partnership and the issuance of the Common Stock and/or OP Units as Owner deems necessary or
desirable, and has been given the opportunity to obtain any additional information or documents and to ask questions and receive answers about such information and documents, the Company, the Operating Partnership and the business and prospects of
the Company and the Operating Partnership which Owner deems necessary or desirable to evaluate the merits and risks related to its investment in the Common Stock and/or OP Units; and Owner understands and has taken cognizance of all risk factors
related to the purchase of the Common Stock and/or OP Units. Owner is relying upon its own independent analysis and assessment (including with respect to taxes), and the advice of Owner’s advisors (including tax advisors), and not upon that of
the Company or the Operating Partnership or any of the Company’s or the Operating Partnership’s Affiliates, for purposes of evaluating, entering into, and consummating the transactions contemplated hereby. 

(ii) Holding Period. Owner acknowledges that it has been advised that (i) the OP Units are not redeemable or exchangeable for
Common Stock for a minimum of twelve (12) months, (ii) the OP Units and Common Stock issued pursuant to this Agreement, and any Common Stock issued in exchange for, or in respect of a redemption of, the OP Units, are “restricted
securities” (unless registered in accordance with applicable U.S. securities laws) under applicable federal securities laws and may be Transferred only in accordance with Section 4.II(hh)(i) above and Owner understands that the
Operating Partnership has no 

  
 - 24 - 

 
obligation or intention to register any OP Units, except to the extent set forth in the Registration Rights Agreement. Accordingly, Owner and the Participants may have to bear indefinitely, the
economic risks of an investment in such OP Units, and a notation shall be made in the appropriate records of the Operating Partnership indicating that the OP Units (and any Common Stock for which OP Units may, in certain circumstances, be exchanged
or redeemed) and are subject to restrictions on transfer. 
 (jj) Accredited Investor. Owner is an “accredited
investor” under the Securities Act and shall reasonably believe, which shall be based on representations made by its Participants to Owner, that each of its Participants to whom OP Units or Common Stock will be distributed are Accredited
Participants. Owner previously has provided the Operating Partnership and the Company with an Accredited Investor Questionnaire duly executed by Owner. No event or circumstance has occurred since delivery of such Questionnaire to make the statements
contained therein false or misleading. Owner acknowledges that in issuing any shares of Common Stock or OP Units pursuant to the terms of this Agreement, the Company and the Operating Partnership are relying on the representations made by each of
its Participants electing to receive shares of Common Stock or OP Units, which representations were set forth in the consent form enclosed with Consent Solicitation and returned by such investor. 

(kk) No Broker. Neither Owner nor any of its Subsidiaries nor any of their members, managing members, partners, general partners,
directors, officers, employees or its Supervisor, to the extent applicable, has entered into any agreement with any broker, finder or similar agent or any Person or firm that will result in the obligation of the Company, the Operating Partnership or
any of their Affiliates to pay any finder’s fee, brokerage fees or commissions or similar payment in connection with the transactions contemplated by this Agreement. 

(ll) No Other Representations or Warranties. Other than the representations and warranties expressly set forth in this
Section 4.II, Owner shall not be deemed to have made any other representation or warranty in connection with this Agreement or the transactions contemplated hereby. 

All representations and warranties of Owner contained in Section 4.II (as qualified by the Disclosure Letter) or in any Schedule, Exhibit, certificate or
affidavit delivered pursuant to the Agreement shall survive the Closing. 
 Notwithstanding anything to the contrary in this Agreement, following the
Closing and issuance of OP Units, Common Stock and/or cash to Owner, neither Owner nor any member, managing member, partner, general partner, director, officer or employee, to the extent applicable, of Owner shall be liable under this Agreement for
monetary damages (or otherwise) for breach of any of its representations, warranties, covenants and obligations contained in this Agreement or in any Schedule, Exhibit, certificate or affidavit delivered by it pursuant thereto. 

  
 - 25 - 

 5. Payment of Consideration. 

(a) On the Closing Date, the Operating Partnership shall, in exchange for the transfer of the Assets and the other deliveries from Owner at
Closing, pay to Owner a number of OP Units, shares of Class A Common Stock, shares of Class B Common Stock and/or cash with an aggregate value equal to the Consideration. The number of OP Units, shares of Class A Common Stock, shares
of Class B Common Stock and/or cash to be allocated to Owner shall be determined pursuant to Section 3(a), and Owner shall distribute such Consideration to its Participants, as contemplated thereby, as soon as practicable after the Closing
Date. 
 (b) Only Participants in Owner who Owner reasonably believes, based on representations made by such Participants to Owner or other
evidence, are Accredited Investors may receive OP Units or Common Stock hereunder. 
 (c) No fractional OP Units or shares of Common Stock
shall be issued to a Participant pursuant to this Agreement. If aggregating all OP Units or shares of Common Stock that a Participant would otherwise be entitled to receive hereunder would require the issuance of a fractional OP Unit or a fractional
share of Common Stock, in lieu of such fractional OP Unit or fractional share of Common Stock, such Participant shall be entitled to receive one OP Unit or one share of Common Stock for each fractional OP Unit or share of Common Stock of 0.50 or
greater. Neither the Operating Partnership nor the Company will issue an OP Unit or share of Common Stock, respectively, for any fractional share of OP Unit or Common Stock, respectively, of less than 0.50. 

(d) As soon as practicable following the determination of the Consideration and prior to the Closing, all calculations relating to
Consideration shall be performed in good faith by, or under the direction of, the Company and the Operating Partnership, and, absent manifest error, shall be final and binding upon Owner and its Participants. 

(e) The parties acknowledge that the transfer to Owner (for distribution to its Participants) pursuant to this Agreement of (i) OP
Units shall be evidenced by an amendment to the Operating Partnership’s Partnership Agreement admitting Participants receiving OP Units pursuant to the terms hereof as limited partners (the “Amendment”) and
(ii) Common Stock shall be evidenced through the electronic registration of such Common Stock with the Depository Trust Company, a New York corporation (“DTC Registered REIT Stock”) (except that the Class B Common Stock may be
evidenced in a different form to be determined by the Company) in such names as Owner shall direct, based on instructions from Participants receiving Common Stock. Each Participant in Owner receiving OP Units shall be instructed to execute, in
connection with its consent to the transactions contemplated by this Agreement, an agreement to become a party to and be bound by such Partnership Agreement. Owner may withhold distribution of any OP Units to any investor until such investor
executes such an agreement. 
 6. Risk of Loss. 

(a) The risk of loss relating to Owner’s Property Interest and the underlying Property prior to the Closing shall be borne by Owner. If,
prior to the Closing, (a) the Property is materially or totally destroyed or damaged by fire or other casualty or (b) the Property is materially or totally taken by eminent domain or through condemnation proceedings, then the Operating
Partnership may, at its option (such election to be made as soon as reasonably practicable following such occurrence and in any event prior to the Closing), determine not to acquire the leasehold estate under the Ground Lease. Owner shall not have
any obligation to 

  
 - 26 - 

 
repair or replace any such damage, destruction or taken property. Unless the Operating Partnership elects not to acquire the leasehold estate under the Ground Lease, at the Closing, Owner shall
pay or cause to be paid to the Operating Partnership any sums collected (directly or indirectly) by Owner, if any, under any policies of insurance or award proceeds relating to such casualty or condemnation, if any, and otherwise assign to the
Operating Partnership all rights (directly or indirectly) of Owner to collect such sums as may then be uncollected except to the extent required for collection costs or repairs by Owner prior to the Closing Date, and provided that Owner shall retain
any insurance proceeds attributable to lost rents or other items applicable to any period prior to the Determination Date, and all rights thereto. As used in this Section 6, “materially” destroyed, damaged or taken refers to any
casualty loss or damage or any loss due to condemnation, in either case, to the Property or any portion thereof if (a) the cost of repairing or restoring the premises in question to substantially the same condition which existed prior to the
event of damage would be, in the opinion of an architect or other qualified expert selected by Owner and reasonably approved by the Operating Partnership, or the amount of the proposed condemnation award is, equal to or greater than ten percent
(10%) of the Consideration for the Property, (b) such loss or damage would entitle tenants occupying more than ten percent (10%) of the total rentable square footage at the Property, in the aggregate, to terminate their Subleases or
(c) such loss or damage otherwise materially impairs the current use or square footage of such Property (including parking, if material to such use) or access thereto. This Section 6 is an express agreement to the contrary under
Section 5-1311 of the New York General Obligation Law. 
 7. Management Services. 

The parties intend that this Section 7 shall survive any termination of this Agreement. 

(a) Following the date of the closing of the IPO and during any remaining Option Term, the Company shall perform on behalf of Owner the same
asset management services as now provided by the Supervisor in consideration of (i) a monthly fee equal to one percent (1%) of gross collections at the Property, with respect to asset management services which constituted basic supervisory
services and (ii) a payment, on a monthly basis, of an amount equal to the allocable cost of the time spent by the Company’s staff in performing such services with respect to asset management services which constituted special supervisory
services. The asset management fee, with respect to asset management services which constituted basic supervisory services, shall be payable in equal monthly installments on the first day of each month. The Company shall include with each invoice
for payment with respect to asset management services which constituted special supervisory services such written detail as Owner may reasonably request to support the determination of Owner’s share of such costs and payment shall be made on a
monthly basis within thirty (30) days after presentation of such invoice. 
 (b) Following the date of the closing of the IPO and during
any remaining Option Term, the Company may, subject to Section 7(c) below, instruct Owner to terminate that certain management agreement between Owner and Newmark Knight Frank attached as Schedule 7(b)(i) hereto or that
certain leasing agreement between Owner and Newmark Knight 

  
 - 27 - 

 
Frank attached as Schedule 7(b)(ii) hereto, in which case the Company, or a Subsidiary of the Company, shall perform on behalf of Owner the property management, leasing,
construction and other services on the fee formulas currently in effect as described in the terminated agreement, as applicable (or on any other market terms approved by a majority of the Independent Directors and by Helmsley). 

(c) All the foregoing services referenced in this Section 7 are subject to a right of termination by Malkin on behalf of Owner on the
basis that upon any such termination they shall engage as property manager the firm selected from among Cushman & Wakefield, Newmark Knight Frank, and CB Richard Ellis (or any successor of any such firm) whose proposal Malkin
reasonably determines to the most economically favorable to Owner. 
 8. Assignment. 

This Agreement shall be binding upon, and shall be enforceable by and inure to the benefit of, the parties hereto and their permitted
respective heirs, legal representatives, successors and assigns; provided, however, that this Agreement may not be assigned (except by operation of law) by any party without the prior written consent of the other parties, and any attempted
assignment without such consent shall be null and void and of no force and effect, except that the Operating Partnership may designate assignees and otherwise may assign its rights and obligations hereunder to a wholly-owned subsidiary of the
Operating Partnership. For the avoidance of doubt, any reference to an acquisition by the Operating Partnership shall also be deemed to refer to an acquisition by any of its Subsidiaries. 

9. Notices. 
 All notices
and other communications under this Agreement shall be in writing and shall be deemed given when (a) delivered personally, (b) five (5) Business Days after being mailed by certified mail, return receipt requested and postage prepaid,
(c) one (1) Business Day after being sent by a nationally recognized overnight courier or (d) transmitted by facsimile or e-mail to the parties at the following addresses (or at such other address for a party as shall be specified by
notice from such party). A copy of each notice to Owner shall be sent to Helmsley. 
 To Owner: 

1400 Broadway Associates L.L.C. 

c/o Malkin Holdings LLC 
 One
Grand Central Place 
 60 East 42nd Street 

New York, NY 10165 
 Facsimile:
(212) 986-8795 
 Attn: Anthony E. Malkin 

with a copy to: 

  
 - 28 - 

 Proskauer Rose LLP 

1585 Broadway, Room 2256 
 New
York, NY 10036 
 Facsimile: (212) 969-2900 

Attn: Arnold S. Jacobs 
 To
the Company or the Operating Partnership: 
 c/o Malkin Holdings LLC 

One Grand Central Place 
 60 East
42nd Street 
 New York, NY 10165 

Attn: Anthony E. Malkin 
 with a
copy to: 
 Clifford Chance US LLP 

31 West 52nd Street 
 New York, NY
10019 
 Facsimile: (212) 878-8375 

Attn: Larry P. Medvinsky 
 To
Helmsley: 
 c/o Helmsley Enterprises, Inc. 

230 Park Avenue—Suite 659 

New York, NY 10169 
 Facsimile:
(212) 867-7570 
 Attn: General Counsel 

Skadden, Arps, Slate, Meagher & Flom LLP 

4 Times Square, 38th Floor 

New York, NY 10036 
 Facsimile:
(917) 777-2600 
 Attn: Benjamin F. Needell 

10. Descriptive Headings. 

The descriptive headings in this Agreement are inserted for convenience only and are not intended to be part of or to affect the meaning or
interpretation of this Agreement. 
 11. No Recording. 

Neither this Agreement nor any memorandum or short form hereof may be recorded. 

  
 - 29 - 

 12. Entire Agreement. 

This Agreement and the Closing Documents, including, without limitation, the exhibits hereto and thereto, constitute the entire agreement and
supersede each prior agreement and understanding, whether written or oral, among the parties regarding the subject matter of this Agreement and the Closing Documents. This Agreement is not intended to confer any rights or remedies on any Person
other than the parties hereto, other than the Estate of Leona M. Helmsley and its Affiliates and Malkin Holdings LLC in respect of the following sentence. Nothing herein shall be deemed to affect the rights of the Estate of Leona M. Helmsley or any
of its Affiliates, or Malkin Holdings LLC pursuant to (a) a separate agreement, of even date herewith, between Malkin Holdings LLC and the Estate of Leona M. Helmsley in respect of the Committee or (b) the separate agreement, dated
January 14, 2011, by and among Malkin Holdings LLC, LMH 34 LLC, LMH 1333 LLC, LMH 1350 LLC, LMH Equities LLC, Supervisory Management Corp., LMH EBC, LLC, LMH 1400 LLC, LMH Fisk LLC and LMH Lincoln LLC, and in the event of a conflict between
either such agreement and this Agreement, the terms of such separate agreement shall control. 
 13. Amendment; Waiver. 

Any amendment hereto shall be in writing and signed by all parties hereto. No waiver of any provisions of this Agreement shall be valid unless
in writing and signed by the party against whom enforcement is sought. This Agreement may be amended without the consent of any Participant that is not a party hereto, provided that such amendment does not adversely affect the economic benefits to
the Participants (taking into account the tax treatment). 
 14. Severability. 

Each provision of this Agreement will be interpreted so as to be effective and valid under applicable Law, but if any provision is held
invalid, illegal or unenforceable under applicable Law in any jurisdiction, then such invalidity, illegality or unenforceability will not affect any other provision, and this Agreement will be reformed, construed and enforced in such jurisdiction as
if such invalid, illegal or unenforceable provision never had been included in this Agreement. 
 15. Governing Law. 

This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, regardless of any laws that might
otherwise govern under applicable principles of conflict of laws thereof. 
 16. Counterparts. 

This Agreement may be executed in counterparts, all of which shall be considered one and the same agreement and shall become effective when one
or more counterparts have been signed by each party and delivered to each other party. 

  
 - 30 - 

 17. Jurisdiction. 

The parties hereby (a) submit to the exclusive jurisdiction of any state or federal court sitting in New York County, New York with
respect to any dispute arising out of this Agreement or any transaction contemplated hereby to the extent such courts would have subject matter jurisdiction with respect to such dispute and (b) irrevocably waive, and agree not to assert by way
of motion, defense, or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above named courts, that its property is exempt or immune from attachment or execution, that the action is brought in an
inconvenient forum or that the venue of the action is improper. 
 18. Dispute Resolution. 

The parties intend that this Section 18 will be valid, binding, enforceable, exclusive and irrevocable and that it shall survive any
termination of this Agreement. 
 (a) Upon any dispute, controversy or Claim arising out of or relating to this Agreement or the enforcement,
breach, termination or validity thereof (“Dispute”), the party raising the Dispute will give written notice to the other parties to the Dispute describing the nature of the Dispute following which the parties to such Dispute shall
attempt for a period of ten (10) Business Days from receipt by the parties of notice of such Dispute to resolve such Dispute by negotiation between representatives of the parties hereto who have authority to settle such Dispute. All such
negotiations shall be confidential and any statements or offers made therein shall be treated as compromise and settlement negotiations for purposes of any applicable rules of evidence and shall not be admissible as evidence in any subsequent
proceeding for any purpose. The statute of limitations applicable to the commencement of a lawsuit shall apply to the commencement of an arbitration hereunder, except that no defense based on the running of the statute of limitations will be
available based upon the passage of time during any such negotiation. Regardless of the foregoing, a party shall have the right to seek immediate injunctive relief pursuant to clause (c) below without regard to any such 10-day negotiation
period. 
 (b) Any Dispute (including the determination of the scope or applicability of this agreement to arbitrate) that is not resolved
pursuant to clause (a) above shall be submitted to final and binding arbitration in New York before one neutral and impartial arbitrator, in accordance with the Laws of the State of New York for agreements made in and to be performed in that
State. The arbitration shall be administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures, as in effect on November 28, 2011. The parties hereto shall appoint one arbitrator within fifteen (15) days of a demand
for arbitration. If an arbitrator is not appointed within such 15-day period, the arbitrator shall be appointed by JAMS in accordance with its Comprehensive Arbitration Rules and Procedures, as in effect on November 28, 2011. The arbitrator
shall designate the place and time of the hearing. The hearing shall be scheduled to begin as soon as practicable and no later than fifteen (15) days after the appointment of the arbitrator (unless such period is extended by the arbitrator for
good cause shown) and shall be conducted as expeditiously as possible, in any event not to exceed forty-five (45) days. The award, which shall set forth the arbitrator’s findings of fact and conclusions of law, shall be filed with JAMS and
mailed to the parties no later than thirty (30) days after the close of the arbitration hearing. The arbitration award shall be final and binding on the parties and not subject to collateral attack. Judgment upon the arbitration award may be
entered in any federal or state court having jurisdiction thereof. 

  
 - 31 - 

 (c) Notwithstanding the parties’ agreement to submit all Disputes to final and binding
arbitration before JAMS, the parties shall have the right to seek and obtain temporary or preliminary injunctive relief in any court having jurisdiction thereof pursuant to Section 7.8. Such courts shall have authority to, among other things,
grant temporary or provisional injunctive relief in order to protect any party’s rights under this Agreement. Without prejudice to such provisional remedies as may be available under the jurisdiction of a court, the arbitral tribunal shall have
full authority to grant provisional remedies and to direct the parties to request that any court modify or vacate any temporary or preliminary relief issued by such court, and to award damages for the failure of any party to respect the arbitral
tribunal’s orders to that effect. 
 (d) The prevailing party shall be entitled to recover its costs and reasonable attorneys’
fees, and the non-prevailing party shall pay all expenses and fees of JAMS, all costs of the stenographic record, all expenses of witnesses or proofs that may have been produced at the direction of the arbitrator and the fees, costs and expenses of
the arbitrator. The arbitrator shall allocate such costs and designate the prevailing party or parties for these purposes. 
 19. Rules
of Construction. 
 (a) The parties agree that they have been represented by counsel during the negotiation, preparation and execution of
this Agreement and, therefore, waive the application of any law, regulation, holding or rule of construction providing that ambiguities in an agreement or other document will be construed against the party drafting such agreement or document. 

(b) The words “hereto,” “hereof,” “herein” and “herewith” and words of similar import shall, unless
otherwise stated, be construed to refer to this Agreement as a whole and not to any particular provision of this Agreement, and article, section, paragraph, exhibit and schedule references are to the articles, sections, paragraphs, exhibits and
schedules of this Agreement unless otherwise specified. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without
limitation.” All terms defined in this Agreement shall have the defined meanings contained herein when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein. The definitions contained in
this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. Any agreement, instrument or statute defined or referred to herein or in any
agreement or instrument that is referred to herein means such agreement, instrument or statute as from time to time, amended, qualified or supplemented, including (in the case of agreements and instruments) by waiver or consent and (in the case of
statutes) by succession of comparable successor statutes and all attachments thereto and instruments incorporated therein. References to a Person are also to its permitted successors and assigns. 

  
 - 32 - 

 20. Time of the Essence. 

Time is of the essence with respect to all obligations under this Agreement. 

21. No Personal Liability Conferred. 

This Agreement shall not create or permit any personal liability or obligation on the part of the Supervisor or any Participant, shareholder,
managing member, general partner, director, officer or employee of Owner, the Supervisor, the Company or the Operating Partnership, to the extent applicable, in their capacities as such; provided that nothing in this Section 21 shall be deemed
to affect any liability or obligation of any Person pursuant to the Representation, Warranty and Indemnity Agreement among among the Principals, the Company and the Operating Partnership. 

22. Changes to Form Agreements. 

Owner agrees and confirms that the terms of the OP Units and Common Stock and the Consent Solicitation are not final and may be modified
depending on the prevailing market conditions at the time of the IPO. By executing this Agreement, Owner hereby authorizes the Company or the Operating Partnership to, and understands and agrees that the Company or the Operating Partnership may make
changes (including changes that may be deemed material) to the Consent Solicitation, and Owner agrees to receive OP Units, shares of Common Stock and/or cash, as the case may be, with such final terms and conditions as the Operating Partnership and
the Company shall determine, provided that such changes do not affect Owner in a manner materially different from the Contributing Entities. In addition, Owner acknowledges that (a) it understands that the information presented in the
Consent Solicitation and the attachments thereto will be preliminary and is subject to change (particularly management’s discussion and analysis of financial condition and results of operation, the financial statements and footnotes thereto,
the preliminary pro forma financial statements and footnotes thereto, the property information, the IPO Price and the assumed range of shares estimated to be offered in the IPO) in connection with the completion of the audit, the review and comments
of the SEC and the investor feedback received during the course of the IPO, (b) the Consolidation Transactions may be consummated even if less than all of the Contributing Entities and the Public Entities participate in the Consolidation
Transactions, (c) except for Empire State Building Associates L.L.C. and Empire State Building Company L.L.C., the Consolidation Transaction is not conditioned on the participation of any Contributing Entity, (d) there is likely to be an
extended period of time before the Consolidation Transaction is completed and the terms of the Consolidation Transaction as described in the Consent Solicitations, including the Values, may be significantly different than described in such documents
existing as of November 28, 2011 and (e) notwithstanding the foregoing differences, this Agreement will be binding. 
 23.
Further Assurances. 
 Owner on the one hand and the Company and the Operating Partnership on the other hand shall take such other
actions and execute such additional documents prior to and following the Closing as the other may reasonably request in order to effect the transactions contemplated hereby. 

  
 - 33 - 

 24. Reliance. 

Each party to this Agreement acknowledges and agrees that it is not relying on tax advice or other advice from the other party to this
Agreement, and that it has consulted with or will consult with its own advisors. The Operating Partnership shall not be liable for any damages resulting from a successful challenge of the treatment or characterization by any taxing authority of the
transactions contemplated in this Agreement. 
 25. Survival. 

The covenants and agreements in this Agreement or in any instrument delivered pursuant to this Agreement shall not survive the Closing, except
for those covenants and agreements contained herein and therein which by their terms apply in whole or in part after the Closing and then only to such extent. 

26. Equitable Remedies; Limitation on Damages. 

The parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in
accordance with the specific terms hereof or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and
provisions hereof in any federal or state court located in New York (as to which the parties agree to submit to jurisdiction for the purpose of such action), this being in addition to any other remedy to which the parties are entitled under this
Agreement; provided, however, that nothing in this Agreement shall be construed to permit Owner to enforce consummation of the IPO. 
 27.
Special Provisions. 
 (a) Notwithstanding any contrary provision herein, any special rights for Helmsley hereunder (including rights
of approval and rights to require sale of the Property pursuant to Section 27(b) hereof), shall be in effect as of any date only if Helmsley (or its permitted transferees as contemplated in Section 3(j)) then retains 80% of the
interest in Owner as it holds on the date of this Agreement. 
 (b) If no purchase of the Assets is made hereunder prior to the expiration of
the Option Term for any reason or if a third-party portfolio transaction as described in the Consent Solicitations is consummated prior to the Conclusion, then at Helmsley’s request, the Supervisor shall make reasonable and diligent efforts,
including engaging a third-party broker acceptable to Helmsley, to effect a sale of the Assets with 36 months thereafter on the basis that such sale shall be concluded prior to the expiration of such 36 months; and during such sale process, Helmsley
shall have full access to such broker engaged for such purpose. Any such sale shall require the requisite consent of the Participants in Owner at the time of such sale in accordance with Owner’s organizational documents. 

  
 - 34 - 

 (c) At any time that a Valuation is commenced in accord with Exhibit A, and so long
as such Valuation is being conducted, Helmsley shall be provided copies of all correspondence and appraisals and shall be provided the opportunity to participate in any calls with the Owner’s appraiser or any meeting during the such appraisal
process. 

  
 - 35 - 

 IN WITNESS WHEREOF, Owner, the Company, the Operating Partnership, and Helmsley have executed
this Agreement as of the day and year first above written. 
  

			
	EMPIRE STATE REALTY TRUST, INC.
		
	By:	 	 /s/ Thomas N. Keltner, Jr.

	Name:	 	Thomas N. Keltner, Jr.
	Title:	 	Executive Vice President and General Counsel

  

			
	EMPIRE STATE REALTY OP, L.P.
	
	By: Empire State Realty Trust, Inc., its general partner
		
	By:	 	 /s/ Thomas N. Keltner, Jr.

	Name:	 	Thomas N. Keltner, Jr.
	Title:	 	Executive Vice President and General Counsel

  

			
	 1400 BROADWAY ASSOCIATES L.L.C.

By: Malkin Holdings LLC, Supervisor

		
	By:	 	/s/ Thomas N. Keltner, Jr.
	 Name:
	 	Thomas N. Keltner, Jr.
	 Title:
	 	Executive Vice President and General Counsel

  

			
	 THE ESTATE OF LEONA M. HELMSLEY

		
	By:	 	/s/ Sandor Frankel
	 Name:
	 	Sandor Frankel
	 Title:
	 	Executor
		
	 By:
	 	 /s/ John Codey

	 Name:
	 	John Codey
	 Title:
	 	Executor

  
 Signature page to
Amended and Restated Option Agreement for 1400 Broadway 

	
	AGREED SOLELY AS TO SECTION 27 (b):
	 /s/ Peter L. Malkin

	 Peter L. Malkin

	
	 /s/ Anthony E. Malkin

Anthony E. Malkin

  
 Signature page to
Amended and Restated Option Agreement for 1400 Broadway Associates 

 SCHEDULE 2(b)(i)(A) 

CALCULATION OF OWNER VALUE 

For the purposes of the Agreement, the “Value” of Owner shall be calculated pursuant to the formula set forth below.
Capitalized terms used in this Schedule 1.8 shall have the meanings set forth below and capitalized terms used in this Schedule 1.8 without definition shall have the meanings assigned to such terms in the Agreement. 

Number of OP Units and/or shares of Common Stock = V/IPO Price 

V = AP x TIV 
 where: 

V = Value 
 AP = Allocable Percentage 

TIV = Total Inside Value 
 “Allocable
Percentage” shall mean the percentage calculated as a fraction, the numerator of which is Owner’s Exchange Value and the denominator of which is the aggregate Exchange Value of the Contributing Entities plus the Management
Companies plus Owner plus any other Option Entity to the extent consolidated simultaneously with the Formation Transactions on the Closing Date. 

“Exchange Value” shall mean the final exchange value determined in accordance with the valuation described in the
Prospectus/Consent Solicitation Statement included in the registration statement on Form S-4 for the Company, as the same may be amended or supplemented. 

“Public Equity” shall mean the product of: (i) the aggregate number of shares of Common Stock sold to the public in the
IPO (excluding the over-allotment option, if any) times (ii) the IPO Price. 
 “Total Equity” shall mean the
product of: (i) the sum of (A) the aggregate number of shares of Common Stock to be outstanding immediately following the IPO Closing (excluding the over-allotment option, if any) and (B) the aggregate number of OP Units to be
outstanding immediately following the IPO Closing other than OP Units held by the Company times (ii) the IPO Price. 

“Total Inside Value” shall mean the sum of Total Equity minus Public Equity.EX-10.1

 Exhibit 10.1 
  

 
 EXECUTION COPY 

September 24, 2013 

Confirmation of Forward Stock Sale Transaction 
  

			
	To:	  	Westar Energy, Inc.
		  	818 South Kansas Avenue
		  	Topeka, Kansas 66612
		
	From:	  	JPMorgan Chase Bank, National Association
		  	125 London Wall
		  	London EC2Y 5AJ
		  	England
		
	From:	  	J.P. Morgan Securities LLC,
		  	Solely as Agent
		  	tel: (212) 622-5270
		  	fax: (212) 622-0105

 Dear Sir/Madam: 
 The purpose of
this letter agreement (this “Confirmation”) is to confirm the terms and conditions of the Transaction entered into between JPMorgan Chase Bank, National Association, London Branch (“Party A”) and Westar Energy, Inc.
(“Party B”) on the Trade Date specified below (the “Transaction”). This confirmation constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. 

The definitions and provisions contained in the 2002 ISDA Equity Derivatives Definitions (as published by the International Swaps and Derivatives Association,
Inc. (“ISDA”)) (the “Equity Definitions”) are incorporated into this Confirmation. In the event of any inconsistency between the Equity Definitions and this Confirmation, this Confirmation will govern. Any reference
to a currency shall have the meaning contained in Annex A to the 1998 ISDA FX and Currency Option Definitions, as published by ISDA. 
  

	1.	This Confirmation evidences a complete and binding agreement between Party A and Party B as to the terms of the Transaction to which this Confirmation relates. This Confirmation shall supplement, form a part of, and be
subject to an agreement in the form of the 2002 ISDA Master Agreement (the “Agreement”) as if Party A and Party B had executed an agreement in such form on the Trade Date (but without any Schedule except for the election of the laws
of the State of New York as the governing law), and provided that in no event shall Party B be required to pay an additional amount to Party A under Section 2(d)(i)(4) of the Agreement in respect of any distribution or deemed
distribution with respect to Shares. In the event of any inconsistency between provisions of that Agreement and this Confirmation, this Confirmation will prevail for the purpose of the Transaction to which this Confirmation relates. The parties
hereby agree that no Transaction other than the Transaction to which this Confirmation relates shall be governed by the Agreement. For purposes of the Equity Definitions, the Transaction is a Share Forward Transaction. 

 

	2.	The terms of the particular Transaction to which this Confirmation relates are as follows: 

 GENERAL
TERMS: 
  

			
	Trade Date:	 	September 24, 2013
		
	Effective Date:	 	September 30, 2013
		
	Base Shares:	 	4,000,000 Shares. On each Settlement Date, the Base Shares shall be reduced by the number of Settlement Shares for such Settlement Date.

			
	Maturity Date:	 	September 30, 2015 (or, if such date is not a Scheduled Trading Day, the next following Scheduled Trading Day), subject to extension if a Settlement Date on such date is deferred as provided below in clause (ii) of the
proviso to the definition of Settlement Date; provided that if the Maturity Date is a Disrupted Day, then the Maturity Date shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day.
		
	Forward Price:	 	On the Effective Date, the Initial Forward Price, and on any other day, the Forward Price as of the immediately preceding calendar day, multiplied by the sum of (i) 1 and (ii) the Daily Rate for such day;
provided that on each Forward Price Reduction Date, the Forward Price in effect on such date shall be the Forward Price otherwise in effect on such date, minus the Forward Price Reduction Amount for such Forward Price Reduction
Date.
		
	Initial Forward Price:	 	USD 30.05975
		
	Daily Rate:	 	For any day, (i)(A) USD-Federal Funds Rate for such day, minus (B) the Spread, divided by (ii) 360.
		
	USD-Federal Funds Rate:	 	For any day, the rate set forth for such day opposite the caption “Federal funds”, as such rate is displayed on the page “FedsOpen <Index> <GO>” on the BLOOMBERG Professional Service, or any
successor page; provided that if no rate appears on any day on such page, the rate for the immediately preceding day on which a rate appears shall be used for such day.
		
	Spread:	 	0.60%
		
	Forward Price Reduction Date:	 	Each of the dates set forth under the heading “Forward Price Reduction Date” on Schedule I.
		
	Forward Price Reduction Amount:	 	For each Forward Price Reduction Date, the Forward Price Reduction Amount set forth opposite such date on Schedule I.
		
	Shares:	 	Common stock, $5.00 par value per share, of Party B (also referred to herein as the “Issuer”) (Exchange identifier: “WR”).
		
	Exchange:	 	The New York Stock Exchange
		
	Related Exchange(s):	 	All Exchanges
		
	Clearance System:	 	The Depository Trust Company (or its successor)
		
	Calculation Agent:	 	Party A. Upon request, the Calculation Agent shall provide Party A and Party B with a schedule of all calculations, adjustments and determinations in reasonable detail and in a timely manner.
		
	Determining Party:	 	Party A
		
	Exchange Act:	 	The Securities Exchange Act of 1934, as amended from time to time.
		
	SETTLEMENT TERMS:	 	
		
	Settlement Date:	 	Subject to the provisions under “Acceleration Events” and “Termination Settlement” below, any Scheduled Trading Day following the Effective Date and up to, and including, the Maturity Date, as designated by
Party B in a

  
 2 

			
		 	written notice (a “Settlement Notice”) that satisfies the Settlement Notice Requirements and that (a) if related to any Cash Settlement or Net Share Settlement, is delivered to Party A at least 30 Scheduled Trading
Days prior to such Settlement Date and (b) if related to Physical Settlement, may be delivered at any time and settlement will be completed as promptly as practicable thereafter; provided that (i) subject to clause (ii) below, the Maturity
Date shall be a Settlement Date if on such date the Base Shares is greater than zero; (ii) if Cash Settlement or Net Share Settlement applies, any Settlement Date, including a Settlement Date on the original Maturity Date, shall, if Party A is
unable to completely unwind its hedge during the Unwind Period due to (A) the restrictions applicable in connection with compliance with Rule 10b-18 under the Exchange Act as if such rule were applicable to Party A’s (or its affiliate’s)
purchases during the Unwind Period, (B) the existence of any Suspension Day or Disrupted Day, or (C) the inability of Party A, in its commercially reasonable judgment, to unwind its hedge during the Unwind Period, be deferred until the third
Scheduled Trading Day following the date on which Party A is able to completely unwind its hedge; provided that such deferral shall not extend beyond the 45th Scheduled Trading Day after the Settlement Date designated in the Settlement
Notice, such 45th Scheduled Trading Day being a Settlement Date to which (x) Cash Settlement or Net Share Settlement, as applicable, will apply with respect to the portion of such Settlement Shares as to which Party A reasonably determines that it
has unwound its hedge during the Unwind Period, and (y) Physical Settlement will apply with respect to the remainder of such Settlement Shares, and (iii) no more than six Settlement Dates other than the Maturity Date may be designated by Party B;
provided further that if Party A shall fully unwind its hedge during an Unwind Period by a date that is more than three Scheduled Trading Days prior to a Settlement Date specified above, Party A may, by written notice to Party B, specify any
Scheduled Trading Day prior to such original Settlement Date as the Settlement Date; provided further that if any Settlement Date specified above is not a Scheduled Trading Day (or, in the case of Physical Settlement, a Clearance System
Business Day), the Settlement Date shall instead be the next Scheduled Trading Day (or Clearance System Business Day, as applicable).
		
		 	Party A will be deemed to have completely unwound its hedge upon such time that Party A shall have acquired a number of Shares (i) in the case of Cash Settlement, equal to the number of Settlement Shares, and (ii) in the
case of Net Share Settlement, that has an aggregate purchase price equal to (1) the product of (A) the number of Settlement Shares, and (B) the arithmetic average of the Forward Price over the applicable Unwind Period
(calculated assuming no reduction to the Forward Price for any Forward Price Reduction Date that occurs during the Unwind Period, except as set forth in clause (2) below), minus (2) the product of (A) the Forward Price
Reduction Amount for any Forward Price Reduction Date that occurs during such Unwind Period, and (B) the number of Shares with respect to which Party A has not unwound its hedge as of such Forward Price Reduction Date.
		
	 Settlement Shares:
	 	Subject to the provisions under “Acceleration Events” and “Termination Settlement” below, with respect to any Settlement Date, a number of Shares, not to exceed the Base Shares, designated as such by Party B in
the related Settlement Notice; provided that, on the Maturity Date, the number of Settlement Shares shall be equal to the Base Shares on such date; provided further that if a Settlement Date has been specified for a number of Shares
equal to the Base Shares on or prior to the Maturity Date and such Settlement Date has been deferred as described above until a date later than the original Maturity Date, the number of Settlement Shares on the original Maturity Date shall be
zero.

  
 3 

			
	Settlement:	 	Subject to the provisions under “Settlement Date” above and “Acceleration Events” and “Termination Settlement” below, Physical Settlement, Cash Settlement or Net Share Settlement, at the election of
Party B as set forth in a Settlement Notice that satisfies the Settlement Notice Requirements; provided that Physical Settlement shall apply if no Settlement Method is selected.
		
	Settlement Notice Requirements:	 	Notwithstanding any other provisions hereof, a Settlement Notice delivered by Party B that specifies Cash Settlement or Net Share Settlement will not be effective to establish a Settlement Date or require Cash Settlement or Net
Share Settlement (as applicable) unless Party B delivers to Party A with such Settlement Notice a representation signed by Party B substantially in the following form: “As of the date of this Settlement Notice, Westar Energy, Inc. is not aware
of any material nonpublic information concerning itself or the Shares and is designating the date contained herein as a Settlement Date in good faith and not as part of a plan or scheme to evade compliance with the federal securities
laws.”
		
	Unwind Period:	 	The period from, and including, the first Scheduled Trading Day following the date on which Party B elects Cash Settlement or Net Share Settlement in respect of a Settlement Date to, and including, the third Scheduled Trading Day
preceding such Settlement Date.
		
	Unwind Daily Share Amount:	 	On each Scheduled Trading Day during the Unwind Period, other than a Suspension Day or a Disrupted Day, Party A (or its affiliate) will, in accordance with the principles of best execution, use good faith efforts to purchase a
number of Shares equal to the lesser of (i) 100% of the applicable volume limitation of Rule 10b-18 for the Shares on such Scheduled Trading Day, without reference to any block purchases, (ii) 25% of the daily trading volume for the Shares on the
Exchange on such Scheduled Trading Day and (iii) the number of Shares necessary to complete the purchases required to calculate the Cash Settlement Amount or the Net Share Settlement Shares, as the case may be.
		
	Physical Settlement:	 	On any Settlement Date in respect of which Physical Settlement applies, Party B shall deliver to Party A a number of Shares equal to the Settlement Shares for such Settlement Date, and Party A shall deliver to Party B, by wire
transfer of immediately available funds to an account designated by Party B, an amount in cash equal to the Physical Settlement Amount for such Settlement Date, on a delivery versus payment basis.
		
	Physical Settlement Amount:	 	For any Settlement Date in respect of which Physical Settlement applies, an amount in cash equal to the product of the Forward Price on such Settlement Date, and the number of Settlement Shares for such Settlement
Date.
		
	Cash Settlement:	 	On any Settlement Date in respect of which Cash Settlement applies, if the Cash Settlement Amount is a positive number, Party A will pay the Cash Settlement Amount to Party B. If the Cash Settlement Amount is a negative number,
Party B will pay the absolute value of the Cash Settlement Amount to Party A. Such amounts shall be paid on the Settlement Date.
		
	Cash Settlement Amount:	 	For any Settlement Date in respect of which Cash Settlement applies, an amount determined by the Calculation Agent equal to: (1) the product of (i) (A) the arithmetic average of the Forward Price over the applicable Unwind Period
(calculated assuming no reduction to the Forward Price for any Forward Price Reduction Date that occurs during the Unwind Period, except as set forth in

  
 4 

			
		 	clause (2) below), minus (B) the weighted average price at which Party A is able to purchase Shares during the Unwind Period applicable to Cash Settlement to unwind its hedge in compliance with Rule 10b-18 under the
Exchange Act as if it applied to Party A during the Unwind Period, and (ii) the number of Settlement Shares for such Settlement Date, minus (2) the product of (i) the Forward Price Reduction Amount for any Forward Price Reduction Date
that occurs during such Unwind Period, and (ii) the number of Settlement Shares with respect to which Party A has not unwound its hedge as of such Forward Price Reduction Date.
		
	Net Share Settlement:	 	On any Settlement Date in respect of which Net Share Settlement applies, if the number of Net Share Settlement Shares is a (i) positive number, Party A shall deliver a number of Shares to Party B equal to the Net Share Settlement
Shares, or (ii) negative number, Party B shall deliver a number of Shares to Party A equal to the absolute value of the Net Share Settlement Shares; provided that if Party A determines in its good faith judgment that it would be required to
deliver Net Share Settlement Shares to Party B, Party A may elect to deliver a portion of such Net Share Settlement Shares on one or more dates prior to the applicable Settlement Date.
		
	Net Share Settlement Shares:	 	On any Settlement Date in respect of which Net Share Settlement applies, an amount equal to (A) the number of Shares acquired by Party A (or an affiliate thereof) in the Unwind Period applicable to Net Share Settlement for such
Settlement Date, minus (B) the number of Settlement Shares for such Settlement Date.
		
	Settlement Currency:	 	USD
		
	Failure to Deliver:	 	Not Applicable
	
	SUSPENSION OF CASH OR NET SHARE SETTLEMENT:
		
	Suspension Day:	 	Any day on which Party A determines based on the advice of counsel that Cash or Net Share Settlement may violate applicable securities laws. Party A shall notify Party B if it receives such advice from its counsel.
		
	ADJUSTMENTS:	 	
		
	Method of Adjustment:	 	Calculation Agent Adjustment. Notwithstanding anything in the Equity Definitions to the contrary, the Calculation Agent may make an adjustment pursuant to Calculation Agent Adjustment to any one or more of the Base Shares, the
Forward Price and any other variable relevant to the settlement or payment terms of the Transaction.
		
	Additional Adjustment:	 	If, in Party A’s commercially reasonable judgment, the actual cost to Party A, over any 30 consecutive calendar day period, of borrowing a number of Shares equal to the Base Shares to hedge its exposure to the Transaction
exceeds a weighted average rate equal to 60 basis points per annum, then, at Party B’s election, either (1) the Calculation Agent shall reduce the Forward Price in order to compensate Party A for the amount by which such cost exceeded a
weighted average rate equal to 60 basis points per annum during such period or (2) the Borrow Cost Threshold (as defined herein) shall thereafter be reduced to 60 basis points per annum. The Calculation Agent shall notify Party B prior to making any
such adjustment to the Forward Price pursuant to clause (1) above or any reduction to the Borrow Cost Threshold pursuant to clause (2) above, as the case may be, and, upon the request of Party B, Party A shall provide an itemized list of its stock
loan costs for the applicable 30 consecutive calendar day period.

  
 5 

			
	EXTRAORDINARY EVENTS:	 	
		
	Extraordinary Events:	 	In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any applicable Extraordinary Event shall be as specified under “Acceleration Events” and “Termination
Settlement” below.
		
	Tender Offer:	 	Not Applicable
		
	Borrow Cost Threshold:	 	200 basis points per annum (subject to reduction pursuant to the provisions set forth opposite the caption “Additional Adjustment” above).
		
	ACCOUNT DETAILS:	 	
		
	Payments to Party A:	 	To be advised under separate cover or telephone confirmed prior to each Settlement Date.
		
	Payments to Party B:	 	To be advised under separate cover or telephone confirmed prior to each Settlement Date.
		
	Delivery of Shares to Party A:	 	To be advised.
		
	Delivery of Shares to Party B:	 	To be advised.

  

	3.	Other Provisions: 

 Conditions to Effectiveness: 

The effectiveness of this Confirmation on the Effective Date shall be subject to (i) the condition that the representations and warranties
of Party B contained in Section 3(a) of the Agreement and the Underwriting Agreement dated the date hereof among Party B and J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Citigroup Global Markets Inc. and UBS Securities LLC, as
representatives of the underwriters, and the other underwriters named therein (the “Underwriting Agreement”), and any certificate delivered pursuant to the Underwriting Agreement by Party B be true and correct on the Effective Date
as if made as of the Effective Date, (ii) the condition that the representations and warranties of Party A contained in Section 3(a) of the Agreement be true and correct on the Effective Date as if made as of the Effective Date,
(iii) the condition that Party B have performed all of the obligations required to be performed by it under the Underwriting Agreement on or prior to the Effective Date, (iv) the satisfaction of all of the conditions set forth in
Section 5 of the Standard Provisions to the Underwriting Agreement and (v) the condition that the Underwriting Agreement has not been terminated pursuant to Section 10 thereof. In addition, if Party A (or its affiliate), in Party
A’s commercially reasonable judgment, is unable to borrow and deliver for sale a number of Shares equal to the Base Shares on the Effective Date or if, in Party A’s commercially reasonable judgment, borrowing such number of Shares would
entail a stock loan cost of more than 60 basis points per annum with respect to all or any portion of such Shares, the effectiveness of this Confirmation shall be limited to the number of Shares Party A (or its affiliate) may borrow on the Effective
Date at a cost of not more than 60 basis points per annum. 
 Additional Representations and Warranties of Party B: Party B hereby represents and
warrants to Party A (each of such representations to be deemed part of Section 3(a) of the Agreement) as of the date hereof and on the Effective Date, and, in the case of clause (b), on such dates and on the Settlement Date, that: 

 

	 	(a)	 The execution, delivery and the performance by Party B of this Confirmation (including, without limitation, the issuance and delivery of Shares on any
Settlement Date) and compliance by Party B with its obligations hereunder (i) has been duly authorized by all necessary corporate action and does not and will not result in any violation of the provisions of the articles of incorporation or
by-laws of 

  
 6 

	 	
Party B or any applicable law, statute, rule, regulation, judgment, order, writ or decree of any government instrumentality or court, domestic or foreign, having jurisdiction, over Party B or any
of its assets, properties or operations and (ii) will not conflict with or result in a breach or any of the terms or provisions of, or constitute a default under, (I) any material indenture, mortgage, deed of trust or other material
agreement or instrument, in each case, filed as an exhibit to Party B’s most recent 10-K or Party B’s 8-Ks dated as of March 22, 2013 or August 14,
2013 to which Party B or any of its subsidiaries is a party or by which Party B or any of its subsidiaries or any of their respective properties is bound. 

  

	 	(b)	No filing with, or authorization, approval, consent, license, order, registration, qualification or decree of, any court or governmental authority or agency is necessary or required for the execution, delivery and
performance by Party B of this Confirmation and the consummation of the Transaction (including, without limitation, the issuance and delivery of Shares on any Settlement Date) except (i) such as have been obtained under the Securities Act of
1933, as amended (the “Securities Act”) and (ii) as may be required to be obtained under state securities law. 

  

	 	(c)	Party B is as of the date hereof, and after giving effect to the transactions contemplated hereby will be, Solvent. As used in this paragraph, the term “Solvent” means, with respect to a particular date, that
on such date (A) the present fair market value (or present fair saleable value) of the assets of Party B is not less than the total amount required to pay the liabilities of Party B on its total existing debts and liabilities (including
contingent liabilities) as they become absolute and matured, (B) Party B is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and commitments as they mature and become due in the normal course of
business, (C) assuming consummation of the transactions as contemplated by this Agreement, Party B is not incurring debts or liabilities beyond its ability to pay as such debts and liabilities mature, (D) Party B is not engaged in any
business or transaction, and does not propose to engage in any business or transaction, for which its property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which Party B is
engaged and (E) Party B is not a defendant in any civil action that could reasonably be expected to result in a judgment that Party B is or would become unable to satisfy. 

 

	 	(d)	Neither Party B nor any “affiliated purchaser” of Party B (as defined in Rule 10b-18 under the Exchange Act) shall take any action (including, but not limited to, effecting “Cash Settlement” or
“Net Share Settlement” (as such terms are defined in the Master Confirmation for Forward Stock Sale Transactions, dated as of March 21, 2013, between Party B and The Bank of New York Mellon (the “BNYMTC Forward”)) of
any transaction under the BNYMTC Forward) that would cause any purchases of Shares by Party A (or any of its affiliates) during any Unwind Period relating to any Cash Settlement or Net Share Settlement of the Transaction not to comply with Rule
10b-18 under the Exchange Act, as if such rule were applicable to such purchases. 

  

	 	(e)	Party B is an “eligible contract participant” (as such term is defined in Section 1a(18) of the Commodity Exchange Act, as amended) and the Transaction was subject to individual negotiation.

  

	 	(f)	The representations and warranties of Party B contained in the Underwriting Agreement and any certificate delivered pursuant thereto by Party B shall be true and correct on the Effective Date as if made as of the
Effective Date. 

  

	 	(g)	Party B is not and has not been the subject of any civil proceeding of a judicial or administrative body of competent jurisdiction that could reasonably be expected to impair materially Party B’s ability to perform
its obligations hereunder. 

  

	 	(h)	Party B (A) is capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities; (B) will exercise
independent judgment in evaluating the recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing; and (C) has total assets of at least USD 50,000,000 as of the date hereof.

 Covenants of Party B: Party B hereby agrees that, so long as either party has or may have any obligation under the Transaction,
that: 
  

	 	(a)	Any Shares, when issued and delivered in accordance with the terms of the Transaction, will be duly authorized and validly issued, fully paid and nonassessable, and the issuance thereof will not be subject to any
preemptive or similar rights. 

  
 7 

	 	(b)	Party B has reserved and will keep available, free from preemptive rights, out of its authorized but unissued Shares, solely for the purpose of issuance upon settlement of the Transaction as herein provided, the full
number of Shares as shall then be issuable upon settlement of the Transaction. 

  

	 	(c)	Prior to any Settlement Date, the Settlement Shares with respect to that Settlement Date shall have been approved for listing or quotation on the Exchange, subject to official notice of issuance. 

 

	 	(d)	Party B agrees not to repurchase any Shares if, immediately following such repurchase, the Base Shares would be equal to or greater than 15% of the number of then-outstanding Shares. 

 

	 	(e)	Party B will not engage in any “distribution” (as defined in Regulation M under the Exchange Act) other than distributions permitted under Rule 102(b) of Regulation M under the Exchange Act during any Unwind
Period. 

  

	 	(f)	In addition to any other requirements set forth herein, Party B agrees not to elect Cash Settlement or Net Share Settlement if such settlement would result in a violation of the U.S. federal securities laws or any other
federal or state law or regulation applicable to Party A or Party B. 

  

	 	(g)	Party B will, by the fifth succeeding Exchange Business Day, notify Party A upon obtaining knowledge of the occurrence of any event that would constitute an Event of Default, a Potential Event of Default or a Potential
Adjustment Event. 

  

	 	(h)	The parties acknowledge and agree that any Shares delivered by Party B to Party A on any Settlement Date will be newly issued Shares and when delivered by Party A (or an affiliate of Party A) to securities lenders from
whom Party A (or an affiliate of Party A) borrowed Shares in connection with hedging its exposure to the Transaction will be freely saleable without further registration or other restrictions under the Securities Act in the hands of those securities
lenders, irrespective of whether such stock loan is effected by Party A or an affiliate of Party A to hedge Party A’s exposure under the Transaction. Accordingly, Party B agrees that the Settlement Shares that it delivers to Party A on each
Settlement Date shall not bear a restrictive legend and that such Settlement Shares will be deposited in, and the delivery thereof shall be effected through the facilities of, the Clearance System. 

Covenants and Representation of Party A: 
  

	 	(a)	Unless the section labeled “Restricted Shares” below is applicable, Party A shall use any Settlement Shares delivered by Party B to Party A to return to securities lenders to close out borrowings created by
Party A (or an affiliate of Party A) in connection with its hedging activities related to exposure under the Transaction. 

  

	 	(b)	In connection with bids and purchases of Shares in connection with any Cash Settlement or Net Share Settlement of the Transaction, Party A shall comply, or cause compliance, with the provisions of Rule 10b-18 (other
than Rule 10b-18(b)(1)) under the Exchange Act, as if such provisions were applicable to such purchases. 

  

	 	(c)	Party A is an “eligible contract participant” (as such term is defined in Section 1a(18) of the Commodity Exchange Act, as amended), and the Transaction was subject to individual negotiation.

  

	 	(d)	Party A shall deliver to Party B a properly executed Internal Revenue Service (“IRS”) Form W-9 or similar documentation establishing an exemption from backup withholding under the Internal Revenue Code
of 1986, as amended (the “Code”). 

 Extraordinary Dividends: 

If a record date for an Extraordinary Dividend occurs on or after the Effective Date, but prior to the Maturity Date (such date subject to
deferral by up to 45 Scheduled Trading Days in connection with any deferral of a Settlement Date beyond the originally scheduled Maturity Date pursuant to the provisions opposite the caption “Settlement Date” above), Party B shall pay an
amount, as determined by the Calculation Agent, in cash equal to the product of (a) such Extraordinary Dividend, and (b) the number of Base Shares on such record date (in the case of any such record date that occurs during an Unwind
Period, subject to reduction by the Calculation Agent by a number of Shares equal to the number of Settlement Shares relating to such Unwind Period for 

  
 8 

 
which Party A has unwound its hedge), to Party A on the earlier of (i) the date on which such Extraordinary Dividend is paid by the Issuer to holders of record of the Shares and
(ii) the Maturity Date (such date subject to deferral by up to 45 Scheduled Trading Days in connection with any deferral of a Settlement Date beyond the originally scheduled Maturity Date pursuant to the provisions opposite the caption
“Settlement Date” above). “Extraordinary Dividend” means the per Share amount of any cash dividend or distribution declared by the Issuer with respect to the Shares that is specified by the board of directors of the Issuer
as an “extraordinary” dividend. 
 Acceleration Events: An Acceleration Event shall occur if: 

 

	 	(a)	Stock Borrow Events. Notwithstanding any other provision hereof, if in its commercially reasonable judgment Party A (or its affiliate) is unable to hedge Party A’s exposure to the Transaction (a
“Stock Borrow Event”) because (i) of the lack of sufficient Shares being made available for Share borrowing by lenders or (ii) it (or its affiliate) would incur a stock loan cost of more than the Borrow Cost Threshold,
Party A shall have the right to designate any Scheduled Trading Day to be a Settlement Date on at least three Scheduled Trading Days’ notice and to select the number of Settlement Shares for such Settlement Date; provided that
(x) prior to the effectiveness of the designation of a Stock Borrow Event under this paragraph (a), Party B may refer Party A to a lending party reasonably acceptable to Party A that will lend Party A (or its affiliate) Shares within such three
Scheduled Trading Day period, on terms reasonably acceptable to Party A and at a stock loan cost of no more than the Borrow Cost Threshold and (y) the number of Settlement Shares for any Settlement Date so designated by Party A shall not exceed
the number of Shares as to which such inability to, or cost limitation with respect to, borrow exists; or 

  

	 	(b)	Dividends and Other Distributions. Notwithstanding any other provision hereof, if on any day occurring after the Trade Date Party B declares a distribution, issue or dividend to existing holders of the Shares of
(i) any cash dividend (other than an Extraordinary Dividend) to the extent all cash dividends (excluding Extraordinary Dividends) having an ex-dividend date during the period from and including any Forward Price Reduction Date (with each of the
Trade Date and the Maturity Date and each date after the Maturity Date being a Forward Price Reduction Date for purposes of this clause (b) only) to but excluding the next subsequent Forward Price Reduction Date exceeds, on a per Share basis,
the Forward Price Reduction Amount set forth opposite the first date of any such period on Schedule I or (ii) share capital or securities of another issuer acquired or owned (directly or indirectly) by Party B as a result of a spin-off or other
similar transaction or (iii) any other type of securities (other than Shares), rights or warrants or other assets, which distribution, issue or dividend has a record date on or prior to the final Settlement Date, then Party A shall have the
right to designate any Scheduled Trading Day to be a Settlement Date for the entire Transaction on at least three Scheduled Trading Days’ notice and to select the number of Shares for such Settlement Date; or 

 

	 	(c)	ISDA Early Termination Date. Notwithstanding anything to the contrary herein, in the Agreement or in the Definitions, if Party A has the right to designate an Early Termination Date pursuant to Section 6 of
the Agreement, Party A shall have the right to designate any Scheduled Trading Day to be a Settlement Date for the entire Transaction on at least three Scheduled Trading Days’ notice; or 

 

	 	(d)	Board Approval of Merger. Notwithstanding any other provision hereof, if on any day occurring after the Trade Date the board of directors of Party B votes to approve, or there is a public announcement of, in
either case any action that, if consummated, would constitute a Merger Event (as defined in the Equity Definitions), Party B shall notify Party A of any such vote or announcement within three Scheduled Trading Days (and, in the case of any such
vote, Party B also covenants and agrees to publicly announce the occurrence of such vote within three Scheduled Trading Days thereof). Thereafter, Party A shall have the right to designate any Scheduled Trading Day to be a Settlement Date for the
entire Transaction on at least three Scheduled Trading Days’ notice; or 

  

	 	(e)	 Other Events. Notwithstanding anything to the contrary herein, in the Agreement or in the Equity Definitions, if an Insolvency, an Insolvency
Filing, a Nationalization, a Delisting (as provided further in the next sentence) or a Change in Law (other than as specified in clause (Y) of the definition thereof) occurs (provided that the definition of “Change in Law”
shall be amended by addition of clause (C) to read as follows: “(C) due to the effectiveness or implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010”), Party A shall have the right to designate any

  
 9 

	 	
Scheduled Trading Day to be a Settlement Date for the entire Transaction on at least three Scheduled Trading Days’ notice and Party A shall be the Determining Party. In addition to the
provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of The New York Stock
Exchange, NYSE MKT, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any such exchange, such exchange shall be deemed to be the Exchange.

 Termination Settlement: 

If a Settlement Date is specified following an Acceleration Event (a “Termination Settlement Date”), Physical Settlement shall
apply with respect to such Termination Settlement Date as set forth above, subject to the provisions described under “Limit on Beneficial Ownership” below. If, upon designation of a Termination Settlement Date by Party A, Party B fails to
deliver the Settlement Shares relating to such Termination Settlement Date when due or otherwise fails to perform its obligations in connection therewith, it shall be an Event of Default with respect to Party B and Section 6 of the Agreement
shall apply. If an Acceleration Event occurs during an Unwind Period relating to a number of Settlement Shares to which Cash Settlement or Net Share Settlement applies, then on the Termination Settlement Date relating to such Acceleration Event,
notwithstanding any election to the contrary by Party B, Cash Settlement or Net Share Settlement shall apply to the portion of the Settlement Shares relating to such Unwind Period as to which Party A has unwound its hedge and Physical Settlement
shall apply in respect of (x) the remainder (if any) of such Settlement Shares and (y) the Settlement Shares designated by Party A in respect of such Termination Settlement Date. 

Certain Changes In Law: 
 Upon the
occurrence of any Change In Law specified in clause (Y) of the definition thereof, Party A and Party B agree to negotiate in good faith for at least 20 calendar days to amend this Confirmation to take account of the resulting “materially
increased cost” as such phrase is used in clause (Y) of the definition of “Change In Law.” Such amendment may, if agreed by Party A and Party B, result in a Change In Law specified in clause (Y) of the definition thereof
being treated as if it were a Change In Law specified in clause (X) of the definition thereof, as described in clause (e) under the heading “Acceleration Events” above. If, after negotiating in good faith for at least 20 calendar
days to so amend this Confirmation, Party A and Party B do not agree on such an amendment, the relevant Change In Law specified in clause (Y) of the definition thereof shall be treated as if it were a Change In Law specified in clause
(X) of the definition thereof, as described in clause (e) under the heading “Acceleration Events” above. 
 Rule 10b5-1: 

It is the intent of Party A and Party B that the purchase of Shares by Party A during any Unwind Period comply with the requirements of Rule
10b5-1(c)(1)(i)(B) of the Exchange Act and that this Confirmation shall be interpreted to comply with the requirements of Rule 10b5-1(c). 

Party B acknowledges that, except as otherwise provided herein, (i) during any Unwind Period Party B does not have, and shall not attempt
to exercise, any influence over how, when or whether to effect purchases of Shares by Party A (or its agent or affiliate) in connection with this Confirmation and (ii) Party B is entering into the Agreement and this Confirmation in good faith
and not as part of a plan or scheme to evade compliance with federal securities laws including, without limitation, Rule 10b-5 promulgated under the Exchange Act. 

Party B hereby agrees with Party A that during any Unwind Period Party B shall not communicate, directly or indirectly, any Material Non-Public
Information (as defined herein) to any Equity Personnel (as defined below). For purposes of the Transaction, “Material Non-Public Information” means information relating to Party B or the Shares that (a) has not been
widely disseminated by wire service, in one or more newspapers of general 

  
 10 

 
circulation, by communication from Party B to its shareholders or in a press release, or contained in a public filing made by Party B with the Securities and Exchange Commission and (b) a
reasonable investor might consider to be of importance in making an investment decision to buy, sell or hold Shares. For the avoidance of doubt and solely by way of illustration, information should be presumed “material” if it relates to
such matters as dividend increases or decreases, earnings estimates, changes in previously released earnings estimates, significant expansion or curtailment of operations, a significant increase or decline of orders, significant merger or
acquisition proposals or agreements, significant new products or discoveries, extraordinary borrowing, major litigation, liquidity problems, extraordinary management developments, purchase or sale of substantial assets, or other similar information.
For purposes of the Transaction, “Equity Personnel” means any employee on the trading side of the Equity Derivatives Group of J.P. Morgan Securities LLC but does not include Messrs. David Aidelson, Elliot Chalom, Tim Oeljeschlager,
Steven Seltzer and Santosh Sreenivasan (or any other person or persons reasonably designated from time to time by the Compliance Group of Party A, subject to written notice of such designation being delivered by Party A to Party B). 

Interpretive Letter: 
 The parties intend
for this Confirmation to constitute a “Contract” as described in the letter dated October 6, 2003 submitted by Robert W. Reeder and Leslie N. Silverman to Paula Dubberly of the staff of the Securities and Exchange Commission (the
“Staff”) to which the Staff responded in an interpretive letter dated October 9, 2003. 
 Restricted Shares: 

If Party B is unable to comply with clause (h) of “Covenants of Party B” above in this Section 3 because of a change in law
or a change in interpretation or the policy of the Securities and Exchange Commission or its staff, or Party A otherwise determines in its reasonable, good faith opinion based on the advice of outside counsel that any Shares to be delivered to Party
A by Party B may not be freely returned by Party A to securities lenders as described in clause (h) of “Covenants of Party B” above in this Section 3, then the Calculation Agent may, in consultation with Party B, make adjustments
to the terms of the Transaction to preserve the economic intent of the parties, including adjustments to the Forward Price to reflect any lack of liquidity in restricted Shares, and the parties shall work together in good faith to effect settlement
of the Transaction in a commercially reasonable manner and in compliance with applicable law and regulations. 
 Maximum Share Delivery: 

Notwithstanding any other provision of this Confirmation, in no event will Party B be required to deliver in settlement of this Transaction on
any Settlement Date, whether pursuant to Physical Settlement, Net Share Settlement or Termination Settlement, more than the number of Base Shares to Party A. 

Assignment: 
 Party A may assign or
transfer any of its rights or delegate any of its duties hereunder to any affiliate of Party A without the prior written consent of Party B, so long as the senior unsecured debt rating (the “Credit Rating”) of such affiliate (or any
guarantor of its obligations under the Transaction) is equal to or greater than the Credit Rating of the ultimate parent of Party A, as specified by Standard and Poor’s Rating Services or Moody’s Investor Service, Inc., at the time of such
assignment or transfer. In connection with any assignment or transfer pursuant to the immediately preceding sentence, (i) the guarantee of any guarantor of the relevant transferee’s obligation shall constitute a Credit Support Document
under the Agreement and (ii) the assignee or transferee shall deliver to Party B a properly executed IRS Form W-9 or Form W-8 (together with all necessary attachments) establishing an exemption from backup withholding under the Code.
Notwithstanding any other provision of this Confirmation to the contrary requiring or allowing Party A to purchase or receive any Shares from Party B, Party A may designate any of its affiliates to purchase or receive such Shares or otherwise to
perform Party A’s obligations in respect of the Transaction and any such designee may assume such obligations, and Party A shall be discharged of its obligations to Party B only to the extent of any such performance. Any affiliate of Party A
designated as described in the immediately preceding sentence shall deliver to Party B a properly executed IRS Form W-9 or Form W-8 (together with all necessary attachments) establishing an exemption from backup withholding under the Code. 

  
 11 

 Matters Relating to Agent: 

Each party agrees and acknowledges that (i) J.P. Morgan Securities LLC, as agent, (the “Agent”) acts solely as agent on a
disclosed basis with respect to the transactions contemplated hereunder, and (ii) the Agent has no obligation, by guaranty, endorsement or otherwise, with respect to the obligations of either Party B or Party A hereunder, either with respect to
the delivery of cash or Shares, either at the beginning or the end of the transactions contemplated hereby. In this regard, each of Party A and Party B acknowledges and agrees to look solely to the other for performance hereunder, and not to the
Agent. 
 Indemnity: 
 Party B agrees to
indemnify Party A and its affiliates and their respective directors, officers, agents and controlling parties (Party A and each such affiliate or person being an “Indemnified Party”) from and against any and all losses, claims,
damages and liabilities, joint and several, incurred by or asserted against such Indemnified Party arising out of, in connection with, or relating to, any breach of any covenant or representation made by Party B in this Confirmation or the
Agreement. In addition, Party B will reimburse any Indemnified Party for all reasonable expenses (including reasonable legal fees and reasonable expenses) in connection with the investigation of, preparation for, or defense of any pending or
threatened claim or any action or proceeding arising therefrom (whether or not such Indemnified Party is a party thereto) at the time, and only to the extent that the relevant loss, claim, damage, liability or expense is found in a final and
nonappealable judgment by a court of competent jurisdiction to have resulted from a breach of a covenant or representation made by Party B in this Confirmation or the Agreement. For the avoidance of doubt, Party B will not be liable under this
Indemnity paragraph to the extent that any loss, claim, damage, liability or expense is found in a final and nonappealable judgment by a court of competent jurisdiction to have resulted from Party A’s gross negligence, fraud, bad faith and/or
willful misconduct or a breach of any representation or covenant of Party A contained in this Confirmation or the Agreement. 
 Miscellaneous: 

 

			
	    Non-Reliance:	  	Applicable
		
	    Additional Acknowledgements:	  	Applicable
		
	    Agreements and Acknowledgments Regarding	  	
	    Hedging Activities:	  	Applicable

  

	4.	The Agreement is further supplemented by the following provisions: 

 Agreement Regarding Set-off and
Collateral: 
 Notwithstanding Section 6(f) or any other provision of the Agreement or any other agreement between the parties to
the contrary, the obligations of Party B hereunder are not secured by any collateral. Obligations under the Transaction shall not be set off against any other obligations of the parties, whether arising under the Agreement, this Confirmation, under
any other agreement between the parties hereto, by operation of law or otherwise, and no other obligations of the parties shall be set off against obligations under the Transaction, whether arising under the Agreement, this Confirmation, under any
other agreement between the parties hereto, by operation of law or otherwise, and each party hereby waives any such right of setoff. In calculating any amounts under Section 6(e) of the Agreement, notwithstanding anything to the contrary in the
Agreement, (a) separate amounts shall be calculated as set forth in such Section 6(e) with respect to (i) the Transaction and (ii) all other Transactions, and (b) such separate amounts shall be payable pursuant to
Section 6(d)(ii) of the Agreement. 

  
 12 

 Delivery of Cash: 

For the avoidance of doubt, nothing in this Confirmation shall be interpreted as requiring Party B to deliver cash in respect of the settlement
of the Transaction, except (i) as set forth under “Extraordinary Dividends” above or (ii) in circumstances where the cash settlement thereof is within Party B’s control (including, without limitation, where Party B so elects
to deliver cash or fails timely to deliver Shares in respect of such settlement). For the avoidance of doubt, the preceding sentence shall not be construed as limiting any damages that may be payable by Party B as a result of a breach of or an
indemnity under this Confirmation or the Agreement. 
 Status of Claims in Bankruptcy: 

Party A acknowledges and agrees that this confirmation is not intended to convey to Party A rights with respect to the transactions
contemplated hereby that are senior to the claims of common stockholders in any U.S. bankruptcy proceedings of Party B; provided, however, that nothing herein shall limit or shall be deemed to limit Party A’s right to pursue
remedies in the event of a breach by Party B of its obligations and agreements with respect to this Confirmation and the Agreement; and provided further that nothing herein shall limit or shall be deemed to limit Party A’s rights in
respect of any transaction other than the Transaction. 
 Limit on Beneficial Ownership: 

Notwithstanding any other provisions hereof, Party A shall not have the “right to acquire” (within the meaning of NYSE Rule
312.04(g)) Shares hereunder and Party A shall not be entitled to take delivery of any Shares deliverable hereunder (in each case, whether in connection with the purchase of Shares on any Settlement Date or any Termination Settlement Date) to the
extent (but only to the extent) that, after such receipt of any Shares hereunder, (i) the Share Amount would exceed the Applicable Share Limit, or (ii) Party A and each person subject to aggregation of Shares with Party A under
Section 13 or Section 16 of the Exchange Act and rules promulgated thereunder (the “Party A Group”) would directly or indirectly beneficially own (as such term is defined for purposes of Section 13 or Section 16
of the Exchange Act and rules promulgated thereunder) in excess of the lesser of (A) 7.5% of the then outstanding Shares or (B) 6,226,133 Shares (the “Threshold Number of Shares”). Any purported delivery hereunder shall be
void and have no effect to the extent (but only to the extent) that, after such delivery, (i) the Share Amount would exceed the Applicable Share Limit or (ii) the Party A Group would directly or indirectly so beneficially own in excess of
the Threshold Number of Shares. If any delivery owed to Party A hereunder is not made, in whole or in part, as a result of this provision, Party B’s obligation to make such delivery shall not be extinguished, and Party B shall make such
delivery as promptly as practicable after, but in no event later than one Exchange Business Day after, Party A gives notice to Party B that, after such delivery, (i) the Share Amount would not exceed the Applicable Share Limit and (ii) the
Party A Group would not directly or indirectly so beneficially own in excess of the Threshold Number of Shares. 
 The “Share
Amount” as of any day is the number of Shares that Party A and any person whose ownership position would be aggregated with that of Party A (Party A or any such person, a “Party A Person”) under any law, rule, regulation,
regulatory order or organizational documents or contracts of Party B that are, in each case, applicable to ownership of Shares (“Applicable Restrictions”), own, beneficially own, constructively own, control, hold the power to vote
or otherwise meet a relevant definition of ownership of under any Applicable Restriction, as determined by Party A in its reasonable discretion. The “Applicable Share Limit” means a number of Shares equal to (A) the minimum
number of Shares that could give rise to reporting or registration obligations or other requirements (including obtaining prior approval from any person or entity) of a Party A Person, or could result in an adverse effect on a Party A Person, under
any Applicable Restriction, as determined by Party A in its reasonable discretion, minus (B) 1% of the number of Shares outstanding. 
 Other
Forward: 
 Party A acknowledges that Party B has entered into a substantially identical forward transaction for the Shares on the date
hereof (the “Other Forward”) with an affiliate of Wells Fargo Securities, LLC. Party A and Party B agree that if Party B designates a Settlement Date with respect to the Other Forward and for which Cash Settlement or Net Share
Settlement is applicable, and the resulting Unwind Period for the Other Forward coincides for any period of time with an Unwind Period for the Transaction (the “Overlap Unwind Period”),

  
 13 

 
Party B shall notify Party A prior to the commencement of such Overlap Unwind Period of the first Exchange Business Day and length of such Overlap Unwind Period, and Party A shall only be
permitted to purchase Shares to unwind its hedge in respect of the Transaction on every other Exchange Business Day that is not a Suspension Day during such Overlap Unwind Period, commencing on the first day of such Overlap Unwind Period. 

Severability: 
 If any term, provision,
covenant or condition of this Confirmation, or the application thereof to any party or circumstance, shall be held to be invalid or unenforceable in whole or in part for any reason, the remaining terms, provisions, covenants, and conditions hereof
shall continue in full force and effect as if this Confirmation had been executed with the invalid or unenforceable provision eliminated, so long as this Confirmation as so modified continues to express, without material change, the original
intentions of the parties as to the subject matter of this Confirmation and the deletion of such portion of this Confirmation will not substantially impair the respective benefits or expectations of parties to this Agreement; provided,
however, that this severability provision shall not be applicable if any provision of Section 2, 5, 6 or 13 of the Agreement (or any definition or provision in Section 14 to the extent that it relates to, or is used in or in connection
with any such Section) shall be so held to be invalid or unenforceable. 
 Miscellaneous: 

 

	 	(a)	Addresses for Notices. For the purpose of Section 12(a) of the Agreement: 

Address for notices or communications to Party A: 
  

					
		 	Address:	  	JPMorgan Chase Bank, National Association
		 		  	4 New York Plaza, Floor 18
		 		  	New York, NY 10004-2413
		 	 Attention:
	  	Mariusz Kwasnik
		 	 Title:
	  	Operations Analyst, EDG Corporate Marketing
		 	 Telephone No:
	  	(212) 623-7223
		 	 Facsimile No:
	  	(212) 623-7719
			
		 	 With a copy to:
	  	
			
		 	 Address:
	  	JPMorgan Chase Bank, National Association
		 		  	245 Park Avenue, Floor 11
		 		  	New York, NY 10167
		 	 Attention:
	  	Elliot Chalom
		 	 Title:
	  	Vice President, Assistant General Counsel
		 	 Telephone No:
	  	(212) 648-0252
		 	 Facsimile No:
	  	(917) 456-3370

 Address for notices or communications to Party B: 

					
		  		 	
		  	Address:	 	Westar Energy, Inc.
		  		 	818 South Kansas Avenue
		  		 	Topeka, Kansas 66612
			
		  		 	Attn: General Counsel
		  		 	Tel: 785-575-1625
		  		 	Fax: 785-575-8136
		
		  	Party B payment instructions:
			
		  		 	To Be Advised.

  
 14 

	 	(b)	Waiver of Right to Trial by Jury. Each party waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any suit, action or proceeding relating to this
Confirmation or any Agreement. Each party (i) certifies that no representative, agent or attorney of the other party has represented, expressly or otherwise, that such other party would not, in the event of such a suit action or proceeding,
seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party have been induced to enter into this Confirmation by, among other things, the mutual waivers and certifications in this Section. 

London Branch: 
 Party A is entering into
this Confirmation and the Agreement through its London branch. Notwithstanding the foregoing, Party A represents to Party B that the obligations of Party A are enforceable against it to the same extent as if it had entered into this Confirmation and
the Agreement through its head or home office in New York. 
 Withholding Tax Imposed on Payments to Non-US Counterparties Under the United States
Foreign Account Tax Compliance Act: 
 “Indemnifiable Tax” as defined in Section 14 of the Agreement shall not include any
U.S. federal withholding tax imposed or collected pursuant to Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or
any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code (a “FATCA Withholding Tax”). For the
avoidance of doubt, a FATCA Withholding Tax is a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of the Agreement. 

  
 15 

 

 
 Please confirm that the foregoing correctly sets forth the terms of our agreement by signing and returning this
Confirmation. 
  

			
		 	Yours faithfully,
		
		 	J.P. MORGAN SECURITIES LLC,
		 	as agent for JPMorgan Chase Bank, National Association
		
	 By:
	 	 /s/ Tim Oeljeschlager

		 	 Name: Tim Oeljeschlager

		 	 Title:   Vice President

  

					
	Confirmed as of the date first written above:
	
	 WESTAR ENERGY, INC.

		
	By:	 	/s/ Anthony D. Somma
		 	Name:	 	Anthony D. Somma
		 	Title:	 	Senior Vice President, Chief
		 		 	Financial Officer and Treasurer

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