Document:

Employment Agreement

 Exhibit 10.10 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (this
“Agreement”), dated as of April 22, 2011 (the “Effective Date”), is between Peter Luckhurst (“Employee”) and Teavana Holdings, Inc., a Delaware corporation (the
“Company”). 
 RECITALS 

A. The Company believes that the future growth, profitability and success of the Business of the Company will be
significantly enhanced by the continued employment of Employee. 
 B. The Company desires to provide Employee
with appropriate incentives and rewards related to the performance by Employee for the Company. 
 Now,
therefore, the parties hereto hereby agree as follows: 
 I DEFINITIONS 

1.1 Definitions. In addition to terms defined elsewhere in this Agreement, for purposes of this Agreement, the
following terms will have the following meanings when used in this Agreement with initial capital letters: 

(a) “Affiliate” with respect to any Person, any other Person directly or indirectly controlling,
controlled by or under common control with such Person. For purposes of this definition, “control,” when used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of any such Person, whether through the ownership of voting securities, by contract or otherwise, and the term “controlled” has the meaning correlative to the foregoing. With respect
to any natural Person, “Affiliate” will include such Person’s parents, any descendants of such Person’s parents, the parents of such Person’s spouse and any descendants of the parents of such Person’s
spouse (in each case, whether by blood, adoption or marriage). 
 (b) “Agreement”: as
defined in the introductory paragraph. 
 (c) “Board”: the Board of Directors of the
Company. 
 (d) “Business”: the business as conducted by Teavana, Company, and their
Affiliates including the retail sale of tea, tea-related merchandise and items ancillary to the sale of tea. 

(e) “Cause”: (i) the failure by Employee to perform his duties in any material
respect after reasonable notice and an opportunity to cure; (ii) the conviction of Employee of any felony or the plea by Employee of nolo contendere to any felony; (iii) personally or on behalf of another Person,
receiving a benefit relating to the Company or its subsidiaries or its funds, properties, opportunities or other assets that the Board considers to be in violation of a policy of the Company, applicable law, or constituting fraud, embezzlement or
misappropriation; (iv) the failure by Employee to comply in any material respect with any written policy of the Company 

 
after reasonable notice and an opportunity to cure; (v) the willful material misstatement of the financial records of the Company or its subsidiaries or complicit actions in respect
thereof; (vi) the willful failure to disclose material financial or other information to the Chief Executive Officer; (vii) the material breach by Employee of any of the terms of this Agreement; or
(viii) disparaging the Company, its subsidiaries or its executives or employees, or engaging in any conduct that would tend to materially harm their reputation. 

(f) “Chief Executive Officer”: the Chief Executive Officer of the Company. 

(g) “Company”: as defined in the introductory paragraph. 

(h) “Company IP”: as defined in Section 3.4(a). 

(i) “Competitive Business”: as defined in Section 3.1. 

(j) “Confidential Information”: as defined in Section 3.3. 

(k) “Disability”: If the Company or Teavana provides long-term disability insurance to its
employees generally, the term “Disability” shall have the meaning set forth in such plan regarding eligibility for long-term disability insurance; otherwise, the term “Disability” means a physical or
mental incapacity as a result of which Employee becomes unable to continue to perform fully his duties hereunder for 60 consecutive calendar days or for shorter periods aggregating 120 or more days in any 12-month period or upon the determination by
a licensed medical doctor practicing as a specialist in the area to which the alleged disability relates selected by the Company that Employee will be unable to return to work and perform his duties on a full-time basis within 30 calendar days
following the date of such determination on account of mental or physical incapacity. The Board’s determination, in its sole discretion, as to whether a Disability exists and the initial date of Disability shall be final and binding upon the
parties. 
 (l) “Effective Date”: as defined in the introductory paragraph. 

(m) “Employee”: as defined in the introductory paragraph. 

(n) “Employment Period”: as defined in Section 2.1. 

(o) “Good Reason”: the occurrence of any of the following events, without the Employee’s
consent: (i) the Company’s material breach of this Agreement; (ii) the assignment of the Employee to a position, responsibilities, or duties of a materially lesser status or degree of responsibility than his position,
responsibilities, or duties as of the Effective Date; or (iii) relocation of Employee’s principal workplace to a location that is more than 50 miles away from the location on the Effective Date. No “Good Reason” exists unless
(x) the Employee notifies the Company in writing within 60 days after the initial existence of any condition listed above, and the Company fails to cure the condition within 60 days after receiving notice, and (y) the Employee terminates
employment by no later than 150 days after the initial existence of any condition listed above. 
 (p)
“Initial Employment Term”: as defined in Section 2.1. 

  
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 (q) “Person”: an individual, a corporation, a
partnership, a limited liability company, an association, a trust, a joint stock company, a joint venture, an unincorporated organization, a business entity or any other entity or any federal, state, county, city, municipal or other local or foreign
government or any subdivision, authority, commission, board, bureau, court, administrative panel or other instrumentality thereof. 
 (r) “Salary”: as defined in Section 2.4. 
 (s) “Teavana”: Teavana Corporation, a Georgia corporation. 
 (t) “Termination Date”: as defined in Section 2.1. 

II TERMS OF EMPLOYMENT 
 2.1 Employment Period. This Agreement and Employee’s employment hereunder will commence on the Effective Date and terminate on the third anniversary of the Effective Date (the
“Initial Employment Term”), unless sooner terminated in accordance with Section 2.7; provided however, that commencing on the first day after the expiration of the Initial Employment Term and on each anniversary
of such date thereafter, Employee’s employment hereunder will automatically be extended for successive one-year periods unless either party gives written notice to the other, not less than 60 calendar days prior to the otherwise scheduled
Termination Date, that such party does not want Employee’s term of employment so to extend. The Initial Employment Term, as renewed by any additional successive one-year periods, is referred to herein as the “Employment
Period,” and the date on which this Agreement terminates pursuant to this Section 2.1 or Section 2.7 is referred to herein as the “Termination Date.” 

2.2 Duties During Employment Period. Employee will be employed by the Company as Executive Vice President,
Operations and will report directly to the Chief Executive Officer. In such capacity, Employee will perform such duties and exercise such powers as are reasonably assigned to Employee by the Chief Executive Officer. Employee agrees that to the best
of his ability and experience he shall at all times conscientiously perform all of the duties and obligations reasonably assigned to him by the Chief Executive Officer under the terms of this Agreement. 

2.3 Activities During Employment Period. Employee will devote his full business time, energy, ability, attention
and skill to his employment hereunder and to the business of the Company as conducted from time to time and, absent the prior written approval of the Chief Executive Officer, Employee will not engage in any other business activity, whether as an
employee, officer, director, consultant, independent contractor or otherwise, that would interfere with his duties and responsibilities pursuant to Section 2.2. Employee agrees to comply with all written policies of the Company throughout the
Employment Period; provided, however, that if any such policy conflicts with the terms of this Agreement, the terms of this Agreement shall prevail. 
 2.4 Compensation; Salary. For Employee’s services under this Agreement, the Company will pay to Employee an annual base salary of $250,000 during the Employment Period, less all previously
authorized or required deductions and withholding (“Salary”). Such Salary will be payable periodically consistent with the normal practices of the Company; 

  
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provided that Salary shall be paid ratably in installments not less than once a month. On the first day of each fiscal year during the Employment Period, Employee’s annual base salary
will be increased by an amount equal to at least three percent (3%) of Employee’s annual base salary for the immediately preceding fiscal year. 
 2.5 Benefits. 
 (a) Benefits. Except as otherwise
addressed in this Section 2.5, during the Employment Period, Employee (and, in the case of medical coverage, his dependents) shall be entitled to participate in any vacation, pension, medical, retirement and other benefit plans and programs
generally available to the Company’s senior officers and directors, provided that Employee and his dependents meet all eligibility requirements under those plans and programs. Employee and his dependents shall be subject to the terms and
conditions of the plans and programs, including, without limitation, the Company’s right to amend or terminate the plans and programs at any time and without advance notice to the participants. Notwithstanding the foregoing, Employee will not
during the Employment Period be entitled to participate in any severance pay plan of the Company. The Employee’s severance benefits are to be solely as set forth in Section 2.7. 

(b) Expenses. Subject to compliance with the Company’s policies as from time to time in effect regarding the
incurrence, substantiation and verification of business expenses, Employee is authorized to incur on behalf of the Company and the Company will pay or reimburse Employee for all reasonable expenses incurred in connection with the performance of
Employee’s duties hereunder or for promoting, pursuing or otherwise furthering the Business of the Company, including Employee’s reasonable expenses for travel, entertainment and similar items. 

2.6 Deductions and Withholdings. All amounts payable or that become payable under this Agreement will be subject
to any deductions and withholdings required by law. 
 2.7 Termination. 

(a) Termination by the Company without Cause. Employee acknowledges and agrees that Employee’s right to
compensation under this Agreement terminates at the end of the Employment Period. The Company may terminate Employee’s employment hereunder without Cause at any time, upon 30 calendar days’ written notice to Employee. The Company may elect
to pay to Employee his portion of Salary for the notice period in lieu of permitting Employee to continue working. In addition, if Employee is terminated by the Company without Cause, the Company will pay to Employee his then-current Salary for
eighteen months from the Termination Date, subject to Section 2.7(g) below. Such Salary will be paid as and at such times as Employee would have otherwise received his Salary had he remained an employee of the Company, subject to
Section 2.7(g) below. In addition, if Employee is terminated by the Company without Cause, the Company will pay to Employee accrued but unpaid Salary through the Termination Date and all unreimbursed expenses incurred by Employee prior to such
termination for which Employee is entitled to reimbursement pursuant to Section 2.5(c), which payments will become due and payable in cash in a lump sum on the Termination Date. The payments to be made in accordance with this
Section 2.7(a) will constitute liquidated damages 

  
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payable as a result of the termination of Employee’s employment by the Company without Cause and Employee will not be entitled to any other compensation from the Company under this Agreement
or otherwise except as provided in this Section 2.7(a). In no event will any payment be made pursuant to this Section 2.7 if the Employee’s employment ceases as a result of either party’s notice to the other party that the term
of employment will not be extended as described in Section 2.1. This Agreement in all other respects will terminate on the termination of Employee’s employment, except as otherwise provided in this Agreement. 

(b) Termination by the Company for Cause. The Company will have the right to terminate Employee’s employment
hereunder for Cause upon written notice to Employee. If Employee’s employment is terminated for Cause, the Company will pay to Employee (i) accrued but unpaid Salary through the Termination Date and (ii) all expenses
incurred by Employee prior to the Termination Date for which Employee is entitled to reimbursement pursuant to Section 2.5(c), which payments will become due and payable in cash in a lump sum on the Termination Date. Upon termination of
Employee’s employment pursuant to this Section 2.7(b), except for the payments required by this Section 2.7(b), the Company will have no additional obligations to Employee hereunder or otherwise, and except as otherwise provided in
this Agreement, this Agreement will terminate. 
 (c) Termination by Death of Employee. If Employee dies
during the Employment Period, the Company will pay to such Person or Persons as Employee may designate in writing or, in the absence of such designation, to the estate of Employee, the sum of (i) accrued but unpaid Salary earned prior to
Employee’s death, and (ii) expenses incurred by Employee prior to his death for which Employee is entitled to reimbursement pursuant to Section 2.5(c). Such payment will be made within 45 calendar days following the date of
Employee’s death. This Agreement in all other respects will terminate upon the death of Employee and all rights of Employee and his heirs, testamentary executors and testamentary administrators regarding compensation and other benefits under
this Agreement shall cease. 
 (d) Termination for Disability. The Company will have the right to
terminate Employee’s employment hereunder at any time upon the Disability of Employee during the Employment Period. If Employee’s employment is terminated because of Employee’s Disability, the Company will pay to Employee the sum of
(i) accrued but unpaid Salary prior to the Employee’s Disability, and (ii) all expenses incurred by Employee prior to his Disability for which Employee is entitled to reimbursement pursuant to Section 2.5(c). Such
payment will be made within 45 days following the date of Employee’s Disability. This Agreement in all other respects will terminate upon the Disability of Employee, except as otherwise provided in this Agreement. 

(e) Resignation by Employee for Good Reason. Employee may resign for Good Reason upon 30 calendar days’
written notice. If Employee resigns for Good Reason, the Company will pay to Employee his then current Salary for eighteen months from the Termination Date, subject to Section 2.7(g) below. Such Salary will be paid as and at such times as
Employee would have otherwise received his Salary had he remained an employee of the Company, subject to Section 2.7(g) below. In addition, if Employee resigns for Good Reason, the Company will pay to Employee accrued but unpaid Salary through
the Termination Date and all unreimbursed expenses incurred by Employee prior to such termination for which Employee 

  
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is entitled to reimbursement pursuant to Section 2.5(c), which payments will become due and payable in cash in a lump sum on the Termination Date. The payments to be made in accordance with
this Section 2.7(e) will constitute liquidated damages payable as a result of Employee’s resignation for Good Reason and Employee will not be entitled to any other compensation from the Company under this Agreement or otherwise except as
provided in this Section 2.7(e). 
 (f) Resignation by Employee for Any Reason other than Good
Reason. Employee may resign for any or no reason upon 30 calendar days’ written notice. If Employee resigns for any reason other than Good Reason, the Company will pay to Employee (i) accrued but unpaid Salary through the
Termination Date, and (ii) all expenses incurred by Employee prior to the Termination Date for which Employee is entitled to reimbursement pursuant to Section 2.5(c), which payments will become due and payable in cash in a lump sum
on the Termination Date. Upon termination of Employee’s employment pursuant to this Section 2.7(f), except for the payments required by this Section 2.7(f), the Company will have no additional obligations to Employee hereunder or
otherwise, and except as otherwise provided in this Agreement, this Agreement will terminate. 
 (g)
Release. To be eligible for severance pay as described in Section 2.7(a) and (e), the Employee must sign a general release of claims in favor of the Company, Teavana, and their Affiliates, and deliver it to the Company such that it
becomes irrevocable within 30 days after Employee’s termination of employment. If the period during which the Employee has discretion to execute or revoke the general release of claims straddles two taxable years of the Employee, then the
Company shall make the severance payments starting in the second of such taxable years, regardless of which taxable year the Employee actually delivers the executed general release of claims to the Company. 

(h) Suspension by the Company for Indictment; Administrative Leave. The Company will have the right to suspend
Employee’s employment and right to Salary and other compensation pursuant to this Agreement upon the indictment of Employee for any felony until the final resolution of all proceedings with respect to such indictment. The Company will have the
right to place Employee on administrative leave during the Employment Period if the Board determines in good faith that circumstances exist that would reasonably be expected to give rise to the Company’s ability to terminate this Agreement for
Cause. While on administrative leave, Employee agrees to fully cooperate with the Company and the Board, and Employee will be entitled to receive his Salary, payable in accordance with Section 2.4. 

III RESTRICTIVE COVENANTS 
 3.1 Noncompetition and Nonsolicitation. 
 (a) The Employee
agrees and acknowledges that, in connection with his employment with the Company, he has been and will continue to be provided with access to and become familiar with confidential and proprietary information and trade secrets belonging to the
Company, Teavana and their Affiliates. The Employee further acknowledges and agrees that, given the nature of this information and trade secrets, it is likely that such information and trade secrets would inevitably be used or revealed, either
directly or indirectly, in any subsequent employment with a Competitive Business in any position comparable to the position he will hold 

  
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with the Company under this Agreement. Accordingly, in consideration of his employment with the Company pursuant to this Agreement, and other good and valuable consideration, the receipt of which
is hereby acknowledged, the Employee agrees that, while he is in the employ of the Company and for two (2) years after the date that the Employee ceases to be an employee of the Company, Employee will not, without the prior written consent of
Company, for his own account or jointly with another, for or on behalf of any person, as principal, agent, shareholder, participant, partner, promoter, director, officer, manager, employee, consultant, sales representative or otherwise: 

(i) provide services the same as or substantially similar to those Employee provided while employed by
Company to any business engaged, or which he reasonably knows is undertaking to become engaged, in a business that is in competition with the Business of the Company, Teavana, or their respective Affiliates (a “Competitive
Business”) anywhere in the United States where the Company does business; provided that Employee may purchase or otherwise acquire up to (but not in excess of) 2% of any class of securities of any Person, including a Competitive
Business (but without otherwise participating in the activities of such Person), if such securities are listed on any national or regional securities exchange or are quoted on Nasdaq. 

(ii) solicit, or assist in the solicitation of, any person or entity to whom the Company, Teavana, or any
Affiliate sold or licensed or provided any products or services on, or during the two (2) year period prior to, the date of termination of employment, and with whom the Employee had contact with, solicited, provided services for, received
services from, or gained substantive knowledge of during the six (6) months immediately prior to the Employee’s last day of employment, for the purpose of obtaining the patronage of such person for the purchase of any competitive products
or services; 
 (iii) solicit, interfere with, disturb, or attempt to solicit, interfere with or
disturb, directly or indirectly, the relationship (contractual or otherwise) with any person who is, as of the date of termination of employment, or was within two (2) years prior to the date of termination of employment, a supplier of the
Company, Teavana, or any Affiliate, including any actively sought prospective supplier of the Company, Teavana, or any Affiliate, and with whom the Employee had contact with, solicited, provided services for, received services from, or gained
substantive knowledge of during the six (6) months immediately prior to the Employee’s last day of employment, for the purpose of inducing such supplier to cease doing business with the Company, Teavana, or any Affiliate; or 

(iv) solicit, or assist in the solicitation of, for the purpose of offering employment to or hiring, any
person employed by the Company, Teavana, or any Affiliate (as an employee, independent contractor or otherwise) unless, prior to any such solicitation, such person is no longer employed or engaged by the Company, Teavana, or any Affiliate.

 (b) The parties agree that the relevant public policy aspects of covenants not to compete and not to solicit
have been discussed, and that every effort has been made to limit the restrictions placed upon the Employee to those that are reasonable and necessary to protect 

  
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the Company’s legitimate interests. The Employee acknowledges that, based upon his education, experience, and training, these non-compete and non-solicit provisions will not prevent him from
earning a livelihood and supporting himself and his family during the relevant time period. The Employee further acknowledges that a narrower geographic limitation on the restrictive covenants than that set forth above would not adequately protect
the Company’s legitimate business interests. 
 (c) If any provision of this Section 3.1, or the
application of such provision to any Person or circumstance is held invalid, illegal or unenforceable in any respect by a court or other tribunal of competent jurisdiction, such provision will, without any actions on the part of the parties to this
Agreement, be modified to the least extent necessary to cause such provision to conform to the law as determined by such court or other tribunal, and such invalidity, illegality or unenforceability will not affect any other provision of this
Agreement. 
 (d) The restrictions contained in Section 3.1 are necessary for the protection of the
business, goodwill, and Confidential Information of the Company, Teavana, and their Affiliates and are considered by the Employee to be reasonable for such purposes. The Employee agrees that any material breach of Section 3.1 will cause the
Company, Teavana, and their Affiliates substantial and irrevocable damage and therefore, in the event of any such breach, in addition to such other remedies which may be available, the Company shall have the right to seek specific performance and
injunctive relief, cease any severance payments being made to the Employee, and/or recover severance payments already made. 
 (e) The existence of a claim, charge, or cause of action by the Employee against the Company shall not constitute a defense to the enforcement by the Company of the foregoing restrictive covenants.

 (f) The provisions of this Section 3.1 shall survive termination of this Agreement and apply regardless
of the reason for the termination of the Employee’s employment. 
 3.2 Permitted Activities. For the
avoidance of doubt, during and after the Employment Period, nothing contained in this Article III shall be construed to prohibit Employee from contacting business associates, customers or suppliers of the Company if such contact is not made for
purposes of, and does not have the effect of, violating any of the provisions of this Article III. 
 3.3
Confidentiality. 
 (a) Employee acknowledges that prior to the effectiveness of the Agreement, Employee
has been given and will continue to have in connection with the conduct of the Business access and exposure to trade secrets and confidential information of the Company, Teavana, and their Affiliates in written, oral, electronic and other form
regarding the businesses, operations, equipment, products and employees of the Company, Teavana, and their Affiliates (“Confidential Information”), including but not limited to: 

(i) the identities of existing and potential customers and key accounts, including, without limitation,
the identity of existing and potential customers and key 

  
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accounts cultivated or maintained by Employee while providing services at the Company, Teavana, or any Affiliate or that Employee cultivates or maintains while providing services at the Company
or its Affiliates using the Company’s, Teavana’s or any Affiliate’s products, names and infrastructure, and the identities of contact persons at those customers and key accounts and potential customers and key accounts; 

(ii) the particular preferences, likes, dislikes and needs of those existing and potential customers and
key accounts and contact persons with respect to product types, pricing, sales calls, timing, sales terms, rental terms, lease terms, service plans, and other marketing terms and techniques; 

(iii) the business methods, practices, strategies, forecasts, pricing, and marketing techniques;

 (iv) the identities of licensors, vendors, brokers, growers and other suppliers and the
identities of contact persons at such licensors, vendors, brokers, growers and other suppliers; 

(v) the identities of key sales representatives, regional and store managers, buyers and other personnel
and employees; 
 (vi) advertising and sales materials, research, technology, intellectual
property rights, training materials and techniques, operating and franchising manuals, computer software and related materials; 
 (vii) other facts and financial and other business information concerning such Persons or relating to their business, operations, financial condition, results of operations and prospects; 

(viii) Company IP (as defined in Section 3.4(a) below); and 

(ix) all other information the Company, Teavana, or their Affiliates try to keep confidential and that has
commercial or competitive value or is of such a nature that its unauthorized disclosure would be detrimental to the Company’s, Teavana’s, or their Affiliates’ interest. 

(b) Confidential Information will not include: (i) information that is already in or subsequently enters the public
domain, other than as a result of any direct or indirect action or inaction by Employee or any of his Affiliates; or (ii) information that is approved for public release by the Company, Teavana, or their Affiliates. 

(c) In the event that the Employee become legally compelled (by deposition, interrogatory, request for documents,
subpoena, civil investigative demand or similar process) to disclose any of the Confidential Information, the Employee shall provide the Company with prompt written notice of such requirement prior to complying therewith so that the Company may seek
a protective order or other appropriate remedy and/or waive compliance with the terms of this Agreement. In the event that such protective order or other remedy is not obtained or the Company waives compliance with the provisions hereof, the
Employee agrees to furnish only 

  
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that portion of the Confidential Information that is legally required and to exercise reasonable efforts to obtain an assurance that confidential treatment will be accorded such Confidential
Information. 
 (d) During the Employment Period and for five (5) years thereafter, the Employee
(i) will not use Confidential Information for any purpose detrimental to the Company, Teavana, or their Affiliates and (ii) will not, except as directed by the Company, use for himself or others, directly or indirectly, any such
Confidential Information, and, except as required by law or as directed by the Company, Employee will not disclose such Confidential Information, directly or indirectly, to any other Person; provided, however, that as the above restrictions relate
to the Employee’s use and disclosure of trade secrets of the Company, Teavana, and their Affiliates, those restrictions shall remain in place during the Employment Period and at any time thereafter. Employee acknowledges that this covenant is
necessary to protect the Company’s, Teavana’s, and their Affiliates’ Confidential Information and trade secrets. 
 (e) All physical property and all notes, memoranda, files, records, writings, documents and other materials of any and every nature, written or electronic, that Employee has or will prepare, develop or
receive in the course of the Employment Period and that relate to or are useful in any manner to the Business or any other business now or hereafter conducted by the Company, Teavana, or their respective Affiliates, are and will remain the sole and
exclusive property of such Persons. Employee will not, without the Chief Executive Officer’s prior written consent, remove from such Person’s premises any such physical property, the original, “soft copy” or any
reproduction of any such materials nor the information contained therein, and all such physical property, materials and information in his possession or under his custody or control will, on the date of termination of any employment or consulting
agreement be immediately turned over to the Company, Teavana, or their respective Affiliates. 
 3.4 Patents,
Inventions and Other Intellectual Property. 
 (a) If at any time during the Employment Period or prior
thereto at any time that Employee was an employee, agent, director or officer of or consultant to the Company, Teavana, or their Affiliates, Employee, whether alone or with any other Person, makes, discovers, produces, conceives or first reduces to
practice any invention, process, development, design or improvement that relates to, affects or, in the opinion of the Board, is capable of being used or adapted for use in or in connection with the Business or any product, process or intellectual
property right of the Company, Teavana, or their Affiliates, (i) Employee acknowledges and agrees that such invention, process, development, design or improvement (collectively, “Company IP”) will be the sole
property of the Company, Teavana, or such Affiliate, as appropriate and are hereby irrevocably assigned by Employee to the Company, Teavana, or such Affiliate, as appropriate, and (ii) Employee will immediately disclose in confidence all
Company IP to the Company in writing. 
 (b) Employee will, if and when reasonably required to do so by the
Company (whether during the Employment Period or thereafter), at the Company’s expense and, if after the expiration of the Employment Period, subject to Employee’s availability and reimbursement by the Company of Employee’s reasonable
out-of-pocket expenses and payment to Employee of a reasonable per diem to compensate Employee for time spent in connection therewith: (i) apply, 

  
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or join with the Company, Teavana, or an Affiliate thereof, as appropriate, in applying, for patents or other protection in any jurisdiction in world for any Company IP; (ii) execute
or procure to be executed all instruments, and do or procure to be done all things, that are necessary or, in the opinion of the Company, advisable for vesting such patents or other protection in the name of the Company, Teavana, or an Affiliate
thereof or any nominee thereof, or subsequently for renewing and maintaining the same in the name of the Company, Teavana, or an Affiliate thereof or its nominees; and (iii) assist in defending any proceedings relating to, or to any
application for, such patents or other protection. 
 (c) Employee irrevocably appoints the Company as his
attorney in his name (with full power of substitution and resubstitution) and on his behalf to execute all documents, and do all things, required in order to give full effect to the provisions of this Section 3.4. 

3.5 Specific Performance. Employee acknowledges that the Company will have no adequate remedy at law if Employee
breaches any of the provisions of Article III. In the event of such a breach, Employee agrees that the Company will have the right, in addition to any other rights it may have, to specific performance of Article III. If legal proceedings
are commenced by the Company against Employee, in connection with Article III, the party that does not prevail in such proceedings shall pay the reasonable out-of-pocket expenses, including, without limitation, reasonable attorneys’ fees,
disbursements, investigation costs and other costs and expenses incurred by the prevailing party in such proceedings, arising out of or in connection with the Company’s claim under Article III. 

3.6 Survival. The provisions contained in this Article III will survive termination of this Agreement
regardless whether such termination is initiated by the Company. 
 IV MISCELLANEOUS 

4.1 Notices. All notices and other communications required or permitted hereunder will be in writing and, unless
otherwise provided in this Agreement, will be deemed to have been duly given when delivered in person or by a nationally recognized overnight courier service or when dispatched if during normal business hours by electronic facsimile transfer
(confirmed in writing by mail simultaneously dispatched) to the appropriate party at the address specified below: 
  

	 	(a)	 If to the Company, to: 

 Teavana Holdings, Inc. 
 3630 Peachtree Rd., NE, Suite 1480

 Atlanta, GA 30326 
 Facsimile No.: (404) 995-8201 
 Attention: Chief Executive
Officer 
 with a copy to: 

  
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 DLA Piper LLP (US) 

One Atlantic Center 
 1201 West Peachtree Street 
 Suite 2800 

Atlanta, GA 30309-3450 
 Facsimile No.: (404) 682-7800 
 Attention: Richard G.
Greenstein, Esq. 
 If to Employee, to the address for the Employee in the Company’s payroll records;
or, in any case, to such other address or addresses as any such party may from time to time designate as to itself by like notice. 
 4.2 Amendments and Waivers, 
 (a) Any provision of this
Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is to be
effective. 
 (b) No failure or delay by any party in exercising any right, power or privilege hereunder will
operate as a waiver thereof nor will any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided will be cumulative and not
exclusive of any rights or remedies provided by law. 
 4.3 Expenses. Except as otherwise provided
elsewhere in this Agreement, each party will pay all of their respective expenses incurred in connection with the negotiation of this Agreement, and, except as otherwise specified in this Agreement, the parties will pay all of their respective
expenses incurred in connection with any legal proceeding concerning a dispute arising out of this Agreement. 

4.4 Successors and Assigns. The provisions of this Agreement will be binding upon and inure to the benefit of the
parties hereto and their respective successors, assigns, heirs and administrators; provided that Employee may not assign, delegate or otherwise transfer any of his rights or obligations under this Agreement without the prior written consent of the
Company. 
 4.5 No Third-Party Beneficiaries. Except as otherwise expressly provided for herein, this
Agreement is for the sole benefit of the parties hereto, and Teavana and its Affiliates, and their permitted assigns and nothing herein expressed or implied will give or be construed to give to any Person, other than the parties hereto and such
permitted assigns any legal or equitable rights hereunder. 
 4.6 Governing Law. This Agreement will be
governed by, and construed in accordance with, the laws of the State of Georgia without regard to the principles of conflicts of laws of such State. 
 4.7 Jurisdiction. Any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement shall be subject to

  
 - 12 -

 
the exclusive jurisdiction and venue of the state and federal courts located in the State of Georgia and each of the parties to this Agreement hereby irrevocably consents to the jurisdiction and
venue of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the
venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding that is brought in any such court has been brought in an inconvenient form. Process in any such suit, action or proceeding may be served on
any party anywhere in the world, whether within or without the jurisdiction of any such court. Without limiting the foregoing, each party to this Agreement agrees that service of process on such party as provided in Section 4.1 of this
Agreement will be deemed effective service of process on such party. 
 4.8 No Limitation of Rights.
Nothing in this Agreement shall limit or prejudice any rights of the Company or Employee under any other laws. 

4.9 WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY
IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

4.10 Counterparts. This Agreement may be signed in any number of counterparts, each of which will be an original,
with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 4.11
Headings. The headings in this Agreement are for convenience of reference only and will not control or affect the meaning or construction of any provisions hereof. 

4.12 Severability. If any provision of this Agreement or the application of any such provision to any Person or
circumstance is held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision hereof. If any provision of this Agreement is finally
judicially determined to be invalid, ineffective or unenforceable, the determination will apply only in the jurisdiction in which such final adjudication is made, and such provision will be deemed severed from this Agreement for purposes of such
jurisdiction only, but every other provision of this Agreement will remain in full force and effect, and there will be substituted for any such provision held invalid, ineffective or unenforceable, a provision of similar import reflecting the
original intent of the parties to the extent permitted under applicable law. 
 4.13 Certain Interpretive
Matters. 
 (a) Unless the context requires otherwise, (i) words in the singular include the plural and
vice versa, (ii) all reference to $ or dollar amounts will be to lawful currency of the United States, (iii) to the extent the term “day” or “days” is used, it will mean calendar days,
(iv) the pronoun “his” refers to the masculine, feminine and neuter, the words “herein,” “hereby,” “hereunder” and other words of similar import
refer to this Agreement as a whole, and (v) the term “including” means “including without limitation.” 

  
 - 13 -

 (b) No provision of this Agreement will be interpreted in favor of, or
against, any of the parties hereto by reason of the extent to which any such party or its counsel participated in the drafting of this Agreement or by reason of the extent to which any such provision is inconsistent with any prior draft of this
Agreement or any provision of this Agreement. 
 4.14 Entire Agreement. This Agreement constitutes the
entire agreement among the parties with respect to the subject matter hereof. This Agreement supersedes all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement.

 4.15 Full Understanding. Employee represents and agrees that Employee fully understands
Employee’s right to discuss all aspects of this Agreement with Employee’s private attorney, and that to the extent, if any, that Employee desired, Employee utilized this right. Employee further represents and agrees that:
(i) Employee has carefully read and fully understands all of the provisions of this Agreement; (ii) Employee is competent to execute this Agreement; (iii) Employee’s agreement to execute this Agreement has
not been obtained by any duress and that Employee freely and voluntarily enters into it; and (iv) Employee has read this document in its entirety and fully understands the meaning, intent and consequences of this document. 

4.16 Section 409A. (a) If the Company determines in good faith that any provision of this Agreement
would cause Employee to incur an additional tax, penalty, or interest under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the applicable guidance thereunder (“Section
409A”), the Company and Employee shall use reasonable efforts to reform such provision, if possible, in a mutually agreeable fashion to maintain to the maximum extent practicable the original intent of the applicable provision without
violating the provisions of Section 409A or causing the imposition of such additional tax, penalty, or interest under Section 409A. The preceding provision, however, shall not be construed as a guarantee by the Company of any particular
tax effect to Employee under this Agreement. 
 (b) “Termination of employment,” or words of similar
import, as used in this Agreement means, for purposes of any payments under this Agreement that are payments of deferred compensation subject to Section 409A, the Employee’s “separation from service” as defined in
Section 409A. For purposes of Section 409A, the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments. 

(c) With respect to any reimbursement of expenses of, or any provision of in-kind benefits to, Employee, as specified
under this Agreement, such reimbursement of expenses or provision of in-kind benefits shall be subject to the following conditions: (1) the expenses eligible for reimbursement or the amount of in-kind benefits provided in one taxable year shall
not affect the expenses eligible for reimbursement or the amount of in-kind benefits provided in any other taxable year, except for any medical reimbursement arrangement providing for the reimbursement of expenses referred to in Section 105(b)
of the Code; (2) the reimbursement of an eligible expense shall be made no later than the end of the year after the year in which such 

  
 - 14 -

 
expense was incurred; and (3) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit. 

(d) If a payment obligation under this Agreement or other compensation arrangement arises on account of Employee’s
separation from service while Employee is a “specified employee” (as defined under Section 409A and determined in good faith by the Company), any payment of “deferred compensation” (as defined under Treasury Regulation
Section 1.409A-1(b)(1), after giving effect to the exemptions in Treasury Regulation Sections 1.409A-1(b)(3) through (b)(12)) that is scheduled to be paid within six (6) months after such separation from service shall accrue without
interest and shall be paid within 15 days after the end of the six-month period beginning on the date of such separation from service or, if earlier, within 15 days after the appointment of the personal representative or executor of Employee’s
estate following his death. 
 {signatures are on the next page} 

  
 - 15 -

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the day and year first above written. 
  

			
	 TEAVANA HOLDINGS, INC.

		
	 By:
	 	 /s/ Daniel P. Glennon

		 	 Name:  Daniel P. Glennon

		 	 Title:    Executive Vice President,

		 	              Chief Financial Officer

	
	 /s/ Peter Luckhurst

	 Peter Luckhurst

  
 - 16 -Agreement of Lease

 Exhibit 10.11 

AGREEMENT of LEASE, made as of this 2nd day of February, 2006, between 500 Long Beach, LLC, a Connecticut limited
liability company with an office at 300 Long Beach Boulevard, Stratford, Connecticut 06615, hereinafter referred to as Owner, and St. Acquisition Company, a Connecticut corporation with an office at 600 Long Beach Boulevard Stratford, Connecticut
06615, hereinafter referred to as Tenant, WITNESSETH: 
 Owner hereby leases to Tenant and Tenant hereby hires
from Owner approximately 35,000 rentable square feet of space in the building known as 500 Long Beach Boulevard which demised premises are more specifically set forth in the floor plan annexed hereto as Exhibit A, for the term of ten (10) years
(or until such term shall sooner cease and expire as hereinafter provided) as set forth in Article 33 hereof at the annual rate specified in Article 63 hereof, which Tenant agrees to pay in equal monthly installments in advance on the first day of
each month during said term, at the office of Owner or such other place as Owner may designate, without any setoff or deduction whatsoever, except that Tenant shall pay the first monthly installment on the execution hereof. 500 Long Beach Boulevard
is currently being constructed. Upon completion the building will be 117,000 square feet on approximately 7.2 acres of land hereafter all of which is referred to as the “Property” and which is owned by 500 Long Beach LLC.

 The parties hereto, for themselves, their heirs, distributees, executors, administrators, legal
representatives, successors and permitted assigns, hereby covenant as follows: 

1.    Peaceful Possession: The Owner covenants that the Tenant, on paying the said rental and
performing the covenants and condition in this lease contained, shall and may peaceably and quietly have, hold and enjoy the demised premises for the term aforesaid. 

2.    Purpose: The Tenant covenants and agrees to use the demised premises for general offices,
warehouse, storage and distribution and for any other lawful use, provided such use is in accordance with the Certificate of Occupancy for the building, and agrees not to use or permit the premises to be used for any other purpose without the prior
written consent of the Owner. 
 3.    Default Payment of Rent: The Tenant shall, without
any previous demand therefore, pay to the Owner, or its agent, the said rent at the times and in the manner above provided. In the event of the non-payment of said rent, or any installment thereof, at the times and in the manner above provided, and
if the same shall remain in default for more than fifteen (15) days after becoming due, or if the Tenant shall be dispossessed for non-payment of rent, or if the leased premises shall be deserted or vacated for more than fifteen (15) days,
the Owner or its agents shall have the right to and may enter the said premises as the agent of the Tenant, either by force or otherwise, without being liable for any prosecution or damages therefore, and may relet the premises as the agent of the
Tenant, and receive the rent therefore, upon such terms as shall be satisfactory to the Owner, and all rights of the Tenant to repossess the premises under this lease shall be forfeited. Such re-entry by the Owner shall not operate to release the
Tenant from any rent to be paid or covenants to be performed hereunder during the full term of this lease. For the purpose of reletting, the Owner shall be authorized to make such repairs or alterations in or to the leased premises as may be
necessary to place the same in good order and condition. The tenant shall be liable to the Owner for the cost of such repairs or alterations, and all expenses of such reletting. 

 If the sum realized or to be realized from the reletting is insufficient to
satisfy the monthly or term rent provided in this lease, the Owner, at its option, may require the Tenant to pay such deficiency month by month, or may hold the Tenant in advance for the entire deficiency to be realized during the term of the
reletting. The Tenant shall not be entitled to any surplus accruing as a result of the reletting. The Tenant agrees to pay, as additional rent, all attorneys’ fees and other expenses incurred by the Owner in enforcing any of the obligations
under this lease. Notwithstanding the aforesaid, Owner will use customary and reasonable efforts to mitigate its damages. 
 4.    Condition of Premises, Repairs and Alterations: The Tenant shall keep the demised premises in good condition, and shall redecorate, paint and renovate said premises as may be
necessary to keep them in repair and good appearance. Tenant shall at its expense, make all repairs of any nature to the demised premises or the building caused by the negligence of Tenant, its servants, employees, invitees or licensees or caused by
the moving of Tenant’s fixtures, furniture or equipment. The Tenant shall quit and surrender the premises at the end of the demised term in as good condition as the reasonable use thereof will permit. The Tenant shall not make any alterations,
additions, or improvements to said premises without the prior written consent of the Owner. Tenant shall, at its expense, prior to making any permitted alterations, obtain all permits, approvals and certificates required by any applicable
governmental entities and upon completion obtain certificates of final approval thereof and develop duplicates of all such permits, approvals and certificates to Owner. All erections, alterations, additions and improvements, whether temporary or
permanent in character, which may be made upon the premises either by the Owner or the Tenant, except furniture or moveable trade fixtures installed at the expense of the Tenant, shall be the property of the Owner and shall remain upon and be
surrendered with the premises as a part thereof at the termination of this lease, without compensation to the Tenant, unless Owner, by notice to Tenant no later than twenty (20) days prior to the date fixed as the termination of this lease,
elects to relinquish Owner’s right thereto and to have all or some of them removed by Tenant, in which event the same shall be removed from the demised premises by Tenant prior to the expiration of this lease, at Tenant’s expense: Tenant
shall repair any damage due to any such removal and all property remaining in the premises at the end of the term after Tenant’s removal shall be deemed abandoned and may, at Owner’s election, either be retained as Owner’s property or
removed from the premises by Owner, at Tenant’s expense. The Tenant further agrees to keep said premises and all parts thereof in a clean and sanitary condition and free from trash, inflammable material and other objectionable matter. If Tenant
fails, after ten (10) business days notice, to proceed with due diligence to make repairs as required hereby, the same may be made by Owner at Tenant’s expense, which shall be collectible as additional rent. Owner shall have no liability
to Tenant with respect to the failure or delay in making repairs to the demised premises or the building or to any fixtures or equipment contained therein. 
 5.    Liability of Owner: The Owner shall not be responsible for the loss of or damage to property, or injury to persons, occurring in or about the demised premises, by reason of any
existing or future condition, defect, matter or thing in said demised premises or the property of which the premises are a part, or for the acts, omissions or negligence of other persons or tenants in and about the said property. The Tenant agrees
to indemnify and save the Owner harmless from all claims and liability for losses of or damage to property, or injuries to persons occurring in or about the demised premises. 

  
 2 

 6.    Services and Utilities: Utilities and services
furnished to the demised premises for the benefit of the Tenant shall be provided and paid for as follows: water, for ordinary lavatory purposes, by the Owner; gas by the Tenant; electricity by the Tenant; heat by the Tenant; refrigeration by the
Tenant; and hot water by the Tenant. The Owner shall not be liable for any interruption or delay in any of the above services for any reason, except unless the delay or interruption of services is as a result of the gross negligence of the Owner,
its agents, servants or employees. 
 7.    Right to Inspect and Exhibit: The Owner, or its
agents, shall have the right to enter the demised premises upon reasonable advanced notice during normal business hours to examine the same, or to run telephone or other wires, or to make such repairs, additions or alterations as it shall deem
necessary for the safety, preservation or restoration of the improvements, or for the safety or convenience of the occupants or users thereof (there being no obligation, however, on the part of the Owner to make any such repairs, additions or
alterations), or to exhibit the same to prospective purchasers and put upon the premises a suitable “For Sale” sign. For six months prior to the expiration of the demised term, the Owner, or its agents, may similarly exhibit the premises
to prospective tenants, and may place the usual “To Let” signs thereon. Tenant shall provide Owner with keys to the demised premises. 
 8.    Damage by Fire, Explosion, The Elements or otherwise: In the event of the destruction of the demised premises or the building containing the said premises by fire, explosion, the
elements or otherwise during the term hereby created, or previous thereto, or such partial destruction thereof as to render the premises wholly untenantable or unfit for occupancy, or should the demised premises be so badly injured that the same
cannot be repaired within one hundred fifty (150) days from the happening of such injury, then and in such case the term hereby created shall, at the option of the Owner or Tenant by sending written notice to the other Party within forty five
(45) days of damage, cease and become null and void from the date of such damage or destruction, and the Tenant shall immediately surrender said premises and all the Tenant’s interest therein to the Owner, and shall pay rent only to the
damage or destruction, in which event the Owner may re-enter and re-possess the premises thus discharged from this lease and may remove all parties therefrom. If neither Party sends written notice to the other Party termination this Lease that the
Owner may enter and repair the same with reasonable speed, and the rent shall abate proportional to the area Tenant is unable to occupy from the date of damage and while repairs are being made, but shall recommence immediately after said repairs
shall be completed. Should the demised premises be rendered untenantable and unfit for occupancy, but yet be repairable within ninety (90) days from the happening of said injury, the Owner may enter and repair the same with reasonable speed,
and the rent shall abate proportional to the area Tenant is unable to occupy from the date of damage and while repairs are being made, but shall recommence immediately after said repairs shall be completed. But if the premises shall be so slightly
injured as not to be rendered untenantable and unfit for occupancy, then the Owner agrees to repair the same with reasonable promptness and in that case the rent accrued and accruing shall not cease or determine. The Tenant shall immediately notify
the Owner in case of fire or other damage to the premises. 
 9.    Observation of Laws,
Ordinances, Rules and Regulations: The Tenant agrees to observe and comply with all laws, ordinances, rules and regulations of the Federal, State, County and Municipal authorities applicable to the business to be conducted by the Tenant in the

  
 3 

 demised premises. The Tenant agrees not to do or permit anything to be done in said
premises, or keep anything therein, which will increase the rate of fire insurance premiums on the improvements or any part thereof, or on property kept therein, or which will obstruct or interfere with the rights of other tenants, or conflict with
the regulations of the Fire Department or with any insurance policy upon said improvements or any part thereof. In the event of any increase in insurance premiums resulting from the Tenant’s occupancy of the premises, or from any act or
omission on the part of the Tenant, the Tenant agrees to pay said increase in insurance premiums on the improvements or contents thereof as additional rent. 
 10.    Subordination to Mortgages and Deeds of Trust: This lease is subject and is hereby subordinated to all present and future mortgages, deeds of trust and other encumbrances
affecting the demised premises or the property of which said premises are a part. The Tenant agrees to execute, at no expense to the Owner, any instrument which may be deemed necessary or desirable by the Owner to further effect the subordination of
this lease to any such mortgage, deed of trust or encumbrance. Owner agrees to use reasonable efforts to provide Tenant with a Subordination, Non-Disturbance Agreement from any future mortgage holder in form and of substance that is reasonably
satisfactory to Owner and Tenant shall attorn to the holder of any mortgage acquiring title by virtue of a conveyance or through foreclosure proceedings. 
 11.    Rules and Regulations of Owner: The rules and regulations regarding the demised premises as set forth in Article 56, hereof, as well as any other and further reasonable rules
and regulations which shall be made by the Owner, shall be observed by the Tenant and by the Tenant’s employees, agents and customers. The Owner reserves the right to rescind any presently existing rules applicable to the demised premises, and
to make such other and further reasonable rules and regulations as, in its judgment, may from time to time be desirable for the safety, care and cleanliness of the premises, and for the preservation of good order therein, which rules, when so made
and notice thereof given to the Tenant, shall have the same force and effect as if originally made a part of this lease. Such other and further rules shall not, however, be inconsistent with the proper and rightful enjoyment by the Tenant of the
demised premises. 
 12.    Violation of Covenants, Forfeiture of Lease, Re-entry by Owner:
In case of violation by the Tenant of any of the covenants, agreements and conditions of this lease, or of the rules and regulations now or hereafter to be reasonably established by the Owner, and upon failure to discontinue such violation within
ten (10) days after notice thereof given to the Tenant or such reasonably longer period, provided Tenant is diligently proceeding to cure such violation, this lease shall thenceforth, at the option of the Owner, become null and void, and the
Owner may re-enter without further notice or demand. The rent in such case shall become due, be apportioned and paid on and up to the day of such re-entry, and the Tenant shall be liable for all loss or damage resulting from such violation as
aforesaid. No waiver by the Owner of any violation or breach of condition by the Tenant shall constitute or be construed as a waiver of any other violation or breach of conditioner shall lapse of time after breach of condition by the Tenant before
the Owner shall exercise its option under this paragraph operate to defeat the right of the Owner to declare this lease null and void and to re-enter upon the demised premises after the said breach or violation. If Tenant shall be in default which
remains uncured under this lease prior to the date fixed for the commencement of any renewal or extension period, Owner may cancel such renewal or extension by written notice to Tenant. 

  
 4 

 13.    Notices: All notices and demands, legal or
otherwise, incidental to this lease, or the occupation of the demised premises, shall be in writing. If the Owner or its agent desires to give or serve upon the Tenant any notice or demand, it shall be sufficient to send a copy thereof by certified
mail, addressed to the Tenant at the demised premises, or to leave a copy thereof with a person of suitable age found on the premises. Notices from the Tenant to the Owner shall be sent by certified mail or delivered to the Owner at the place
hereinbefore designated as Owners current mailing address, or to such party or place as the Owner may from time to time designate in writing. 
 14.    Bankruptcy, Insolvency, Assignment for Benefit of Creditors: It is further agreed that if at any time during the term of this lease the Tenant shall make any assignment for the
benefit of creditors, or be decreed insolvent or bankrupt according to law, or if a receiver shall be appointed for the Tenant, then Tenant shall be deemed in default hereunder and the Owner may, at its option terminate this lease, exercise of such
option to be evidenced by notice to that effect served upon the assignee, receiver, trustee or other person in charge of the liquidation of the property of the Tenant or the Tenant’s estate, but such termination shall not release or discharge
any payment of rent payable hereunder and then accrued, or any liability then accrued by reason of any agreement or covenant herein contained on the part of the Tenant, or the Tenant’s legal representatives. 

15.    Eminent Domain and Condemnation: If the property or any part thereof wherein the demised
premises are located shall be taken by public or quasi-public authority under any power of eminent domain or condemnation, this lease at the option of the Owner, shall forthwith terminate and the Tenant shall have no claim or interest in or to any
award of damages for such taking. 
 16.    Lease Provisions Not Exclusive: The rights and
remedies of Owner set forth herein are not intended to be exclusive but as additional to all rights and remedies the Owner would otherwise have by law. 
 17.    Limitation re: Default in Rent: Notwithstanding anything to the contrary herein (i) Tenant shall not be deemed in default in the payment of fixed annual rent unless Tenant
fails to pay the same when due and thereafter cure such default within ten (10) days after notice of such default from Owner; provided, however, that if Owner shall have given two such notices in any calendar year, any subsequent failure by
Tenant, during such calendar year, to pay fixed annual rent on the due date thereof shall be deemed an immediate default hereunder without any requirement of notice nor opportunity to cure, and (ii) Tenant shall not be deemed in default in the
payment of any additional rent due hereunder unless Tenant fails to pay the same when due and thereafter cure such default within ten (10) days after notice of such default from Owner; provided however, that if Owner shall have given two such
notices in any calendar year, any subsequent failure by Tenant, during such calendar year to pay any additional rent on the due date thereof shall be deemed an immediate default hereunder without any requirement of notice nor opportunity to cure.

 18.    Remedies of Owner: In the case of any default, re-entry, expiration and/or
dispossession by summary proceedings or otherwise, (a) the rent, and additional rent, shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or 

  
 5 

 expiration, (b) Owner may relet the premises or any part or parts thereof, either in
the name of Owner or otherwise, for a term or terms, which may at Owner’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this lease and may grant concessions or free rent or charge a
higher rental than that in this lease, (c) Tenant or the legal representatives of Tenant shall also pay Owner as liquidated damages for the failure of Tenant to observe and perform said Tenant’s covenants herein contained, any deficiency
between the rent hereby reserved and/or covenanted to be paid and the net amount, if any, of the rents collected on account of the subsequent lease or leases of the demised premises for each month of the period which would otherwise have constituted
the balance of the term of this lease. The Owner must make good faith effort to re-let the premises. The failure of Owner to re-let the premises or any part or parts thereof shall not release or affect Tenant’s liability for damages. In
computing such liquidated damages there shall be added to the said deficiency such expenses as Owner may incur in connection with re-letting, such as legal expenses, attorneys’ fees, brokerage, advertising and for keeping the demised premises
in good order or for preparing the same for re-letting. Any such liquidated damages shall be paid in monthly installments by Tenant on the rent day specified in this lease and any suit brought to collect the amount of the deficiency for any month
shall not prejudice in any way the rights of Owner to collect the deficiency for any subsequent month by a similar proceeding. Owner, in putting the demised premises in good order or preparing the same for re-rental may, at Owner’s option, make
such alterations, repairs, replacements, and/or decorations in the demised premises as Owner, in Owner’s sole judgment, considers advisable and necessary for the purpose of re-letting the demised premises, and the making of such alterations,
repairs, replacements, and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. 
 Owner shall in no event be liable in any way whatsoever failure to re-let the demised premises, or in the event that the demised premises are re-let, for failure to collect the rent thereof under such
re-letting, and in no event shall Tenant be entitled to receive any excess, if any, of such net rents collected over the sums payable by Tenant to Owner hereunder. In the event of a breach or threatened breach by Tenant of any of the covenants or
provisions hereof, Owner shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for. Mention in this lease of any particular
remedy, shall not preclude Owner from any other remedy, in law or in equity. 
 Whether or not Owner shall have collected any
monthly deficiencies and expenses as set forth in Article 18 hereof, and provided Owner shall have terminated this Lease evicted Tenant from the demised premises, Owner shall, at its sole option, be entitled to recover from Tenant, and Tenant shall
pay Owner, on demand, as and for liquidated and agreed final damages, a sum equal to the amount by which the fixed annual rental and additional rent, payable hereunder for the period which otherwise would have constituted the unexpired portion of
the term of this lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination or re-entry), exceeds the then fair and reasonable rental value of the demised premises for the same
period, both discounted to present worth at the rate of eight (8%) percent per annum. If, before presentation of proof such liquidated and agreed final damages to any court, commission or tribunal, the demised premises, or any part thereof,
shall have been relet by Owner for the period which otherwise would have constituted the unexpired portion of the term of this lease, or any part thereof, the amount of rent upon such reletting shall 

  
 6 

 be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole
of the demised premises so relet during the term of the reletting. 
 19.    Fees and
Expenses: If Tenant shall default in the observance or performance of any term or covenant on Tenant’s part to be observed or performed under or by virtue of any of the terms or provisions in any article of this lease, then, unless otherwise
provided elsewhere in this lease, Owner may, not less than ten (10) days after notice to Tenant (except in cases of emergency) and Tenant’s failure to cure such default within such ten (10) day period, or at any time thereafter
perform the obligation of Tenant thereunder. If Owner, in connection with the foregoing or in connection with any default by Tenant in the covenant to pay rent hereunder, makes any expenditures or incurs any obligations for the payment of money,
including but not limited to attorney’s fees, in instituting, prosecuting or defending any action or proceedings, then Tenant will reimburse Owner for such sums so paid or obligations incurred with interest and costs. The foregoing expenses
incurred by reason of Tenant’s default shall be deemed to be additional rent hereunder and shall be paid by Tenant to Owner within (15) days of receipt of any bill or statement to Tenant therefore. If Tenant’s lease term shall have
expired at the time of making such expenditures or incurring such obligations, such shall be recoverable by Owner as damages. 
 20.    No Representations by Owner: Neither Owner nor Owner’s agents have made any representations or promises with respect to the physical condition of the building, the land
upon which it is erected or the demised premises, the rents, leases, expenses of operation or any other matter or thing affecting or related to the demised premises or the building except as herein expressly set forth and no rights, easements or
licenses are required by Tenant by implication or otherwise except as expressly set forth in the provisions of this lease. Tenant will inspect the building and the demised premises and will be thoroughly acquainted with their condition and agrees,
subject to inspection to take the same “as is” on the date possession is tendered following the substantial completion of Owner’s Work under Article 63 hereof and acknowledges that the taking of possession of the demised premises by
Tenant shall be conclusive evidence that the said premises and the building of which the same form a part were in good and satisfactory condition at the time such possession was so taken, except as to latent defects and punch list items. 

Within thirty (30) days after possession of the demised premises is tendered following substantial completion of Owner’s Work,
Tenant shall provide a punch list to Owner of items of Owner’s Work requiring correction, and Owner shall diligently seek to correct the items appearing on Tenant’s punch list. All understandings and agreements heretofore made between the
parties hereto are merged in this contract, which alone fully and completely expresses the agreement between Owner and Tenant and any executory agreement hereafter made shall be ineffective to change, modify, discharge or effect an abandonment of it
in whole or in part, unless such executory agreement is in writing and signed by the party against whom enforcement of the change, modification, discharge or abandonment is sought. 

21.    End of Term: Upon the expiration or other termination of the term of this lease, Tenant shall
quit and surrender to Owner the demised premises, broom clean, in good order and condition, ordinary wear and damages which Tenant is not required to repair as provided elsewhere in this lease excepted, and Tenant shall remove all its property from
the demised 

  
 7 

 premises. Tenant’s obligation to observe or perform this covenant shall survive the
expiration or other termination of this lease. If the last day of the term of this Lease or any renewal thereof, falls on Sunday, this lease shall expire at noon on the preceding Saturday unless it be a legal holiday in which case it shall expire at
noon on the preceding business day. 
 22.    Failure to Give Possession: If Owner is unable
to give possession of the demised premises on the date of the commencement of the term hereof, because of the holding-over or retention of possession of any tenant, under tenant or occupants or if the demised premises are located in a building being
constructed, because such building has not been sufficiently completed to make the premises ready for occupancy or because of the fact that a certificate of occupancy has not been procured or if Owner has not completed any work required to be
performed by Owner, or for any other reason, Owner shall not be subject to any liability for failure to give possession on said date and the validity of the lease shall not be impaired under such circumstances, nor shall the same be construed in any
way to extend the term of this lease, but the rent payable hereunder shall be abated (provided Tenant is not responsible for Owner’s inability to obtain possession or complete any work required) until after Owner shall have given Tenant notice
that the premises are substantially ready for Tenant’s occupancy. If permission is given to Tenant to enter into the possession of the demised premises or to occupy premises other than the demised premises prior to the date specified as the
commencement of the term of this lease, Tenant covenants and agrees that such occupancy shall be deemed to be under all the terms, covenants, conditions and provisions of this Lease, except as to the covenant to pay rent. 

23.    No Waiver: The failure of Owner to seek redress for violation of, or to insist upon the strict
performance of any covenant or condition of this lease or of any of the Rules or Regulations, set forth or hereafter adopted by Owner, shall not prevent a subsequent act which would have originally constituted a violation from having all the force
and effect of an original violation. The failure of Tenant to seek redress for violation of, or to insist upon the strict performance of any covenant or condition of this lease to be observed or performed by Owner shall not prevent a subsequent act
which would have originally constituted a violation from having all the force and effect of an original violation. The receipt by Owner of rent with knowledge of the breach of any covenant of this lease shall not be deemed a waiver of such breach
and no provision of this lease shall be deemed to have been waived by Owner unless such waiver be in writing signed by Owner. No payment by Tenant or receipt by Owner of a lesser amount than the monthly rent herein stipulated shall be deemed to be
other than on account of the earliest stipulated rent, nor shall any endorsement or statement of any check or any letter accompanying any check or payment as rent be deemed an accord and satisfaction, and Owner may accept such check or payment
without prejudice to Owner’s right to recover the balance of such rent or pursue any other remedy in this lease provided. All checks tendered to Owner as and for the rent of the demised premises shall be deemed payments for the account of
Tenant. Acceptance by Owner of rent from anyone other than Tenant shall not be deemed to operate as an attornment to Owner by the payor of such rent or as a consent by Owner to an assignment or subletting by Tenant of the demised premises to such
payor, or as a modification of the provisions of this lease. No act or thing done by Owner’s agents during the term hereby demised shall be deemed an acceptance of a surrender of said premises and no agreement to accept such surrender shall be
valid unless in writing signed by Owner. No employee of Owner or Owner’s agent shall have any power to accept the keys of said premises prior to the termination of the lease and the delivery of keys to any such agent or employee shall not
operate as a termination of 

  
 8 

 
the lease or a surrender of the premises, except that delivery of keys to Owner’s attorney shall be deemed valid delivery. 

24.    Waiver of Trial by Jury: It is mutually agreed by and between Owner and Tenant that the
respective parties hereto shall and they hereby to waive trial by jury in any action, proceeding or counterclaim brought by either of the parties against the other (except for personal injury or property damage) on any matters whatsoever arising out
of or in any way connected with this lease, the relationship of Owner and Tenant, Tenant’s use of or occupancy of said premises, and any emergency statutory or any other statutory remedy. 

25.    Inability to Perform: This lease and the obligation of Tenant to pay rent hereunder and
perform all of the other covenants and agreements hereunder on the part of Tenant to be performed shall in no way be affected, impaired or excused because Owner is unable to fulfill any of its obligations under this lease or to supply or is delayed
in supplying any service expressly or impliedly to be supplied or is unable to make, or is delayed in making any repairs, additions, alterations or decorations or is unable to supply or is delayed in supplying any equipment or fixtures if Owner is
prevented or delayed from so doing by reason of strike or labor troubles or any cause whatsoever beyond Owner’s sole control including, but not limited to, government preemption in connection with a national emergency or by reason of any rule,
order or regulation of any department or subdivision thereof of any government agency or by reason of the conditions of supply and demand which have been or are affected by war or other emergency. 

26.    Water Charges: If Tenant requires, uses or consumes water for any purpose in addition to
ordinary lavatory purposes (of which fact Tenant constitutes Owner to be the sole judge) Owner may install a water meter and thereby measure Tenant’s water consumption for all purposes. Tenant shall pay Owner for the cost of the meter and the
cost of the installation, thereof and throughout the duration of Tenant’s occupancy Tenant shall keep said meter and installation equipment in good working order and repair at Tenant’s own cost and expense in default of which Owner may
cause such meter and equipment to be replaced or repaired and collect the cost thereof from Tenant, as additional rent. Tenant agrees to pay for water consumed, as shown on said meter as and when bills are rendered, and on default in making such
payment Owner may pay such charges and collect the same from Tenant, as additional rent. Tenant covenants and agrees to pay, as additional rent, the sewer rent, charge or any other tax, rent, levy or charge which now or hereafter is assessed,
imposed or a lien upon the demised premises or the realty of which they are apart pursuant to law, order or regulation made or issued in connection with the use, consumption, maintenance or supply of water, water system or sewage or sewage
connection or system; however, Tenant shall not be required to pay any such amounts with respect to the period of one year from the Commencement Date. Independently of and in addition to any of the remedies reserved to Owner hereinabove or elsewhere
in this lease, Owner may sue for and collect any monies to be paid by Tenant or paid by Owner for any of the reasons or purposes hereinabove set forth. 
 27.    Sprinklers: The sprinkler system originally installed by Owner in the demised premises was installed and will be maintained by Owner in accordance with all applicable laws and
regulations, and anything elsewhere in this lease to the contrary notwithstanding, if any bureau, department or official of the federal, state or local government recommend or require the 

  
 9 

 
installation of a sprinkler system or that any changes, modifications, alterations, or additional sprinkler heads or other equipment be made or supplied in an existing sprinkler system by reason
of Tenant’s business, or the location of partitions, trade fixtures, or other contents of the demised premises, or for any other reason due to Tenant’s operations, or if any such sprinkler system installations, modifications, alterations,
additional sprinkler heads or other such equipment, become necessary to prevent the imposition of a penalty or charge against the full allowance for a sprinkler system in the fire insurance rate set by any said Exchange or by any fire insurance
company, Tenant shall, at Tenant’s expense, promptly make such sprinkler system installations, changes, modifications, alterations, and supply additional sprinkler heads or other equipment as required whether the work involved shall be
structural or non-structural in nature. However, if during the final year of the initial term of this lease, or, if Tenant extends the term of this lease as provided herein, during the final two (2) years of any extension thereof, as the case
may be, Tenant shall be required to perform any work under this Article, Tenant shall not be required to pay the cost thereof in an amount greater than a fraction of such cost, the numerator of which shall equal the number of days remaining in the
term and the denominator of which shall equal 3,650. 
 28.    Services: Owner reserves the
right to stop service of the heating, plumbing and electric systems, when necessary by reason of accident or emergency, for repairs, alterations, replacements or improvements, in the judgment of Owner are necessary to be made, until said repairs,
alterations, replacements or improvements shall have been completed. Should Owner need to interrupt or stop service of the heating, plumbing and electrical systems for any other reasons, these interruptions will be scheduled in advance with Tenant
upon a mutually agreeable schedule and circumstance. 
 29.    Captions: The Captions are
inserted only as a matter of convenience and for reference and in no way define, limit or describe the scope of this lease or the intent of any provision hereof. 

30.    Adjacent Excavation: If an excavation shall be made upon land adjacent to the demised
premises, or shall be authorized to be made, Tenant shall afford to the person causing or authorized to cause such excavation, license to enter upon the demised premises for the purpose of doing such work as said person shall deem necessary to
preserve the wall or the building of which demised premises form a part from injury or damage and to support the same by proper foundations without any claim for damages or indemnity against Owner, or diminution or abatement of rent. 

31.    Estoppel Certificate: Tenant, at any time, and from time to time, upon at least ten
(10) days prior notice by Owner, shall execute, acknowledge and deliver to Owner, and/or to any other person, firm or corporation specified by Owner, a statement certifying that this Lease is unmodified in full force and effect (or, if there
have been modification, that the same is in full force and effect as modified and stating the modifications), stating the dates to which the rent and additional rent have been paid, and stating whether or not there exists any default by Owner under
this Lease, and, if so, specifying each such default. 

  
 10 

 32.    Successors and Assigns: The covenants, conditions
and agreements contained in this Lease shall bind and inure to the benefit of Owner and Tenant and their respective heirs, distributees, executors, administrators, successors, and permitted assigns. 

33.    Commencement and Expiration of Term: (a) The term of this Lease and the fixed annual
rental payable hereunder shall commence on a date (herein called the “Commencement Date”) which shall be the earlier of: (i) the day on which Owner has substantially completed Owner’s work in the demised premises as
required under this Lease, provided the same is completed on or before September 15, 2006 and provided Tenant received at least thirty (30) days prior written notice, or (ii) the date Tenant (or anyone claiming under or through
Tenant) shall occupy the demised premises for the conduct of business and shall end ten (10) years from the Commencement Date, except that if such expiration date shall be on any day other than the last day of the calendar month, the term of
the Lease shall be extended to and shall expire on the last day of such calendar month, which ending date is herein called the “Expiration Date” or shall end on such earlier date upon which said term may expire or be canceled or
terminated pursuant to any of the conditions or covenants of this Lease or pursuant to law. The rent billing date shall be the first of the month. If the Commencement Date falls on a date other than the first of the month, the initial rent invoice
shall be prorated accordingly. Promptly after commencement of the term of this lease the parties shall enter into a supplementary agreement confirming the Commencement Date and Expiration Date of the term of this lease. 

(b)    The Parties agree that the Tenant shall have the right to terminate this
Lease during the period that begins on April 2, 2006 and that ends on April 23, 2006 if Owner does not have the perimeter pre-cast concrete walls of 500 Long Beach Boulevard erected to permit the finished roof installation of
500 Long Beach Boulevard to begin. Tenant’s right to terminate can be confirmed only if Owner receives written notice to that effect via United States Postal Service registered mail with a return receipt dated during the period
April 2, 2006 to April 23, 2006. To the extent that Tenant terminates this Lease as specified above, the Parties shall have no further obligations or liabilities to each other as any rent payments or security deposits paid to Owner shall
be promptly returned to Tenant within five (5) business days of said written notice. To the extent that Owner does not receive any such written notice during the period April 2, 2006 to April 23, 2006 as is contemplated in this
section 33.b., than section 33.b shall have no further or future effect to this Lease. 

34.    Broker: Tenant represents to Owner and Owner represents to Tenant that in the negotiation of
this Lease it dealt with no real estate broker or salesman Each party hereby agrees to indemnify the other party and hold it harmless from any and all losses, damages and expenses arising out of any inaccuracy or alleged inaccuracy of the above
representation, including court costs and attorney’s fees. Owner shall have no liability for brokerage commissions arising out of a permitted sublease by Tenant, and Tenant shall and does hereby indemnify Owner and hold it harmless from any and
all liability for brokerage commissions arising out of any such sublease. 
 35.    Number
of Parking Spaces: Owner agrees to make available to Tenant the following parking spaces: 

  
 11 

 (a)    Forty (40) spaces for cars
as shown on Exhibit “A” 
 These spaces shall be provided in accordance with the terms and conditions of Article 37
herein. 
 36.    Taxes: (a) Tenant agrees to pay as additional rent 29.91 percent of
the amount of real estate taxes, which may be imposed upon the land and building of which the demised premises are a part. The Tax shall be the amount of real estate taxes payable with respect to the land and the building of which the demised
premises are a part for the tax fiscal year in which this lease is executed. The Tax shall be adjusted so that the same shall reflect a fully assessed building. 29.91 percent is the proportion which the rentable area of the demised premises bears
the rentable area of the building of which it is a part. This increase shall be paid whether same results from a higher tax rate, or (except as set forth above) an increase in the assessed valuation of the property of which the demised premises are
a part, or both. A tax bill shall be sufficient evidence of the amount of taxes and for calculations of the amount to be paid by Tenant. Tenant shall pay such additional rent within fifteen (15) days after receipt of bill for such rent from
Owner. Owner shall furnish to Tenant pertinent copies of tax bills which form the basis for such additional rent promptly upon written request of Tenant. 

(b)    In addition to the taxes payable by the Tenant pursuant to the preceding
Article 36 (a), Tenant agrees to pay, as additional rent, any increases in real estate taxes which are based on an increase in the assessed value resulting from physical improvements to the demised premises, which improvements involve
items exceeding the items included in Owner’s Work, as set forth in Article 63 hereof. 
 Such additional taxes shall be
determined by multiplying the invoice value of said additional improvements by the equalization ratio prevailing in the Town at the time such improvement was made, and then multiplying the resulting number by the tax rate in the Town in effect on
the date on which such improvements were completed. The increase in assessed value shall be attributable to Tenant regardless of whether Tenant makes the improvement to the demised premises or whether Owner makes the improvements to the demised
premises for the benefit of the Tenant and at the request of the Tenant. 

(c)    If any other tax or assessment shall be levied by the Town, County or other
Municipal authority in lieu of the aforesaid taxes, or in addition to the aforesaid taxes, and same shall be considered a real estate tax, then the increase payable hereunder shall apply to such new or additional tax. 

(d)    Owner has received a Tax Abatement Agreement signed by the Mayor of Stratford
on December 28, 2005. Owner will provide Tenant copies of all tax bills and information used by the Town of Stratford and Owner to calculate the effect of the Tax Abatement Agreement on the amount of tax due for any bill that has been sent to
Tenant. 
 37.    Parking: The parking areas for trucks and delivery vehicles made available
in front of loading docks or loading areas are not to be considered parking spaces but are provided solely for the efficient loading and unloading of goods. No vehicles may be parked in same 

  
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 longer than necessary, in Owner’s reasonable judgment, for the efficient discharge of
such purposes, except that Tenant may designate one (1) space in the parking area adjacent to its loading dock for the short term overnight parking of vehicles. It is intended that Tenant shall have the right for its own use of not more than
the spaces designated in Article 35 hereof, but if Tenant, its agents, employees, licenses or invitees actually use more than said number of spaces on a regular basis, Owner shall have the option of either requiring Tenant to pay to Owner FORTY-FIVE
DOLLARS ($45.00) per month for each additional space so used during the term hereof, or to cause Tenant to immediately cease and desist from so using said additional spaces. A failure of Tenant to comply herewith shall be a violation of a
substantial obligation of the terms this lease. 
 Tenant, its agents, servants, employees or invitees shall not
cause or permit any of its automobiles, trucks or other motor vehicles to be parked overnight anywhere within Executive Park, except as permitted above. 
 Owner agrees to specifically designate the above described parking spaces if Tenant shall find them unavailable on a repeated basis. It shall be the obligation of Tenant to insure that its officers and
employees will park in the areas so designated and will not obstruct the areas of other tenants nor parking along road sides and other areas not specifically designated for parking. Owner shall have the right to use any lawful means to enforce the
parking regulations which have been promulgated in accordance with the terms of this Lease, including but not limited to, the rules contained herein below. 
 38.    Operating Expenses or Common Area Maintenance: (a) For purposes of this Article 38, “Lease Year” means any calendar year all or any part of which falls
within the Term; the first Lease Year under this Lease shall commence on the Commencement Date and shall end on the 31st day of December following the Commencement Date. 

(b)    “Operating Expenses” for each Lease Year, means all costs,
expenses, and disbursements of every kind and nature paid or incurred during such Lease Year by or on behalf of Owner (directly or by way of reimbursement by Owner to its agents or contractors) solely with respect to the ownership, operation,
repair, replacement, cleaning, safety, maintenance, management and security of the Property including, without limitations, the following categories or expense, except to the extent specifically excluded below: 

(i)    salaries, wages, fringe benefits of every kind and nature, bonuses and the
cost of any hospitalization, medical, surgical insurance plans, welfare, pension, retirement or life insurance plans, disability or other benefits imposed by law or otherwise with respect to employees and social security, unemployment and other
payroll taxes paid or incurred by Owner (directly or by way of reimbursement by Owner to its agents or contractors) relating to the employees of Owner and Owner’s agents or contractors engaged in the ownership, operation, repair, replacement,
cleaning, safety, maintenance, management or security of the Property; 

  
 13 

 (ii)    the cost of electricity (except
to the extent specificity excluded by Article 38(c)), gas, steam, or other fuel; security systems; heating, cooling, air conditioning and ventilating; hot and cold water, sewer and other utilities; utility taxis, water rates and charges and sewer
rental for the common areas of the Property and not for any specific Tenant; 

(iii)    the cost of cleaning (including windows), cleaning goods and supplies,
painting, security and other services; 
 (iv)    the cost of all
insurance, including: Worker’s Compensation, property, casualty, liability and fidelity insurance and the fees and charges of insurance consultants; the cost of repairs to, and maintenance of the Building and the Property and their respective
systems to the extent same is not the primary obligation of a tenant thereof; the cost landscaping; 
 (v)    the cost of (including interest charges paid by, or allocable to, Owner), or rental charges for, machinery, equipment, tools used in the maintenance, management or security of
the Building (to the extent allocable to the Owner), and any sales and other taxes thereon; 

(vi)    management fees and expense reimbursement fees not in excess of the amount
that would be paid to a property manager for managing a comparable building in Fairfield County, Connecticut; 
 (vii)    fees and charges payable under service agreements on equipment and other service contracts; 

(viii)    telephone for sprinkler alarm monitoring; 

(ix)    accounting and professional fees and disbursements primarily for annual
financial statement production; annual amortization of costs on a straight-line basis over a depreciable life selected by Owner consistent GAAP for any equipment, device, or capital improvement installed by Owner in the Building that are intended to
reduce Operating Expenses or that are required by federal, state, or local laws, ordinances and regulations (law) (whether or not such Law is mandatory) together with the actual costs of financing or leasing the same; 

(x)    fees for costs of licenses, permits and inspections subsequent to original
construction of the Building; 
 (xi)    costs of contesting the validity
or applicability of any Law if a successful contest is likely to reduce Operating Expenses; 

(xii)    those taxes, duties, charges, levies, and assessments that are expended as
a part of the Property’s operation, repair, cleaning, safety, 

  
 14 

 maintenance, management or security, but that are not included within
Taxes, such as sales, use and utility taxes; 
 (xiii)    all expenses and
costs incurred by Owner as a result of or in order to comply with Laws related to the Property (excluding the Premises), including Laws pertaining to (i) energy or natural resource conservation or environmental protection (such as the costs of
securing alternative sources of utilities, energy or other products or services and the costs of making the Building or the Premises compatible with the use of such alternative sources), (ii) indoor air quality and (iii) recycling;

 (xiv)    all charges, taxes, or surcharges imposed by any government
agency or public utility as a means of conserving or controlling the consumption of water-gas, electricity, energy sources or products, natural resources, or other products or services. 

(c)    The following costs and expenses shall be excluded from Operating Expenses:
(i) expenses relating to leasing space in the Building (including tenant improvements, leasing and brokerage commissions and advertising expenses); (ii) legal fees and disbursements incurred for collection of tenant accounts or negotiation
of leases, or relating to disputes between Owner and other tenants and occupants of the Building; (iii) the cost of electricity furnished to any vacant space in the Building (iv) new construction and other capital expenditures not
specifically included in Article 38(b); (v) Taxes; (vi) the cost of repairs and replacements incurred by reason of fire or other casualty or condemnation to the extent to which Owner receives compensation through proceeds of insurance or a
condemnation award; (vii) payments of principal and interests on any mortgages upon either or both of the Land and the Building, (viii) payments f ground rent pursuant to any ground lease covering either or both of the Land and the
Buildings; (ix) the costs of gas, steam or other fuel; operation of elevators and security systems; heating, cooling, air conditioning and ventilating; chilled water, hot and cold water, sewer and other utilities or any other service or
facility, or level or amount thereof, provided to any other tenant or occupant in the Building which either (A) is not supplied or furnished to Tenant or (B) is supplied or furnished to Tenant pursuant to the terms of this Lease with
separate or additional charge; (x) the cost of any work performed for any other tenant or occupant in the Building which either (A) is not performed for Tenant or (B) is performed for Tenant pursuant to the terms of this Lease with
separate or additional charge; (xi) payments made by Owner to a company or other entity affiliated with Owner for goods and services to the extent that such payments exceed the amounts that would have been paid to independent third parties for
goods and services of like kind in connection with the operation. repair, cleaning, maintenance, management and security of the Building; (xii) the cost of any Owner’s Work, (xiii) the Allowance given to Tenant or an allowance or
similar financial incentive given to a tenant of other space in the Building, including without limitation, rent credits; (xiv) fines and penalties assessed against Owner for failing to comply with Laws and (xiv) Initial capital

  
 15 

 
expenditures or repairs and replacements to any areas of the building leased to Tenant or other tenants. 

38.2    Payment of Operating Expenses: Tenant shall pay to Owner as Additional Rent
for each Lease Year or fractional Lease Year during the Term, an amount of money equal to Tenant’s Proportional Share, as described herein, of Operating Expenses as described above, together with the Annual Fixed Rent as stated Article 63(b).
Tenant shall pay Tenant’s Proportionate Share of the Operating Expenses to Owner within twenty-five (25) days after Owner provides Tenant with a statement of Tenant Proportionate Share of the Operating Expenses with the computations of
such Operating Expenses. 
 (a)    On the first business day of February of
each Year during the Term (or, with respect to the Lease Year in which the Commencement Date occurs, before the Commencement Date) or as soon thereafter as is practicable, Owner shall furnish Tenant with a statement of Owner’s reasonable
estimate of Operating Expense, (the “Operating Expense Estimate”) setting forth Owner’s reasonable estimate of Operating Expenses for the forthcoming Lease Year (or the fractional Lease Year in which the Commencement Date
occurs, as the case may be). Owners estimate for 2006 is confirmed to be $1.25 per square foot. 
 (b)    Estimated Statement Payments. On the first day of the month following Tenant’s receipt of an Operating Expense Estimate, but in no event less than 20 days following
Tenant’s receipt of an Operating Expense Estimate, Tenant shall pay to Owner an amount equal to (a) the product of (i) one-twelfth (1/12th) of tenant’s Proportionate Share based on such Operating Expense Estimate multiplied
by (ii) the number of months (and any fractions thereof), to and including the then current month, that have elapsed or commenced since the commencement of such Lease Year less (b) the aggregate of any payments made on account of
Additional Rent for Operating Expenses for such Lease Year pursuant to this Article 38.1. On the first day of each month thereafter until rendition of the next succeeding Operating Expense Estimate, Tenant shall pay to Owner an amount equal to
one-twelfth (1/12th) of Tenant’s Proportionate Share based on the most recent Operating Expense Estimate; provided, however, that if a new Operating Expense Estimate is issued for such Lease Year, the monthly amount shall be changed as
provided in Article 38.1(a). 
 (c)    If the Commencement Date occurs on a
date other than the first day of January, or if the Term ends on a date other than the last day of December, the actual Operating Expenses for the Lease Year in which the Commencement Date or the Expiration Date occurs, as the case may be, shall be
prorated so that Tenant shall pay that portion of Tenant’s Proportionate Share of Operating Expenses for such year represented by a fraction, the numerator of which shall be the number of days during such fractional year falling within the
Term, and denominator of which is 365 (or 366, in the case of a leap year). The provisions of Article 38.1 shall survive the Expiration Date or any sooner termination as may be provided for in This Lease. 

  
 16 

 (d)    By the first business day in
April of each Lease Year during the Term (beginning on the first day of April of the Lease Year following the Lease Year in which the Commencement Date occurs), or as soon thereafter as is practicable, Owner shall furnish Tenant with a
statement of the actual Operating Expenses for the preceding Lease year, certified by Owner. The monthly installments paid or payable shall be adjusted between Owner and Tenant, and each party hereby agrees that Tenant shall pay Owner or Owner shall
credit Tenant’s account (or, if such adjustment is at the end of the Term, pay Tenant), within thirty (30 days of receipt of such statement, the amount of any excess or deficiency in Tenant’s Proportionate Share of Operating Expenses paid
by Tenant to Owner during the preceding Lease Year. 
 (e)    In the event
that the written itemized statement reflecting the actual Operating Expenses for the previous Lease Year is not received within one hundred eighty (180) days after the end of each Lease Year, Tenant shall not be obligated to pay Tenant’s
Share of actual Operating Expenses exceeding the estimated payments made by Tenant for the previous Lease Year. However, Tenant shall still be entitled to receive a reimbursement or credit of Tenant’s Proportionate Share of Operating Expenses
overpaid the previous Lease Year, if any. 
 (f)    Tenant shall have the
right within sixty (60) days of receiving a statement of Operating Expenses and on fifteen (15) business days prior written notice to Owner, to review during normal business hours, the books and records relating to such Operating Expenses
at the office of Owner at which such books and records are routinely maintained. The audit may be conducted at Tenant’s expense by an employee of Tenant or a certified public accountant licensed in the state of Connecticut. If Tenant’s
audit reveals that the Operating Expenses charged to Tenant exceed or were less than Tenant’s Proportionate Share of the actual Operating Expenses, and such variance is confirmed by Owner’s certified public accountant, then Owner will
reimburse Tenant for any overcharge, or Tenant will pay to Owner any undercharge, as applicable promptly after such final determination. In the event of a confirmed overcharge of Operating Expenses to Tenant in excess of five (5%) percent of
Tenant’s Proportionate Share of actual Operating Expenses in such Lease Year, Owner shall also reimburse Tenant for the reasonable costs of Tenant’s audit together with interest on such overcharged amount as the Default Interest Rate as
such term is hereinafter defined. 
 39.     Insurance: (a) Liability Insurance. Tenant
agrees to provide and keep in force comprehensive general public liability insurance against claims arising out of the operation and control of the premises, in limits of not less than $1,000,000.000 per occurrence, $2,000,000 general aggregate and
a $10,000,000 Umbrella Policy for combined bodily injury and property damage. Owner may periodically review, but not more often than once every two years the adequacy of such coverage and shall have the right to require Tenant to increase the
coverage equal to the amount of coverage customarily carried by owners and/or tenants of similar buildings in similar locations in the Stratford/Bridgeport area. The original of any such policy or 

  
 17 

 
certificate thereof shall be delivered to the Owner showing that Owner has been named as an additional insured, and renewals, thereof shall be delivered to the Owner at least five (5) days
before the expiration of any existing policy. All such insurance shall be with companies of recognized responsibility licensed to do business in the State of Connecticut and shall provide that same may not be canceled by the carrier without at least
ten (10) days prior written notice to each insured. If Tenant shall not deliver evidence of the existence of such insurance as required herein, Owner may procure such insurance, at Tenant’s expense, and Tenant shall, on demand, reimburse
owner, as additional rent, for the cost thereof together with interest at the maximum legal rate per annum then chargeable to individuals. 
 (b)    Owner agrees to provide and keep in force during the term of this Lease sufficient casualty insurance to rebuild the building to its original condition in form and of substance
that is customary for similar buildings in this area of Fairfield County Connecticut. 

(c)    Notwithstanding anything contained in Article 9 hereof, the Tenant herein
shall not be obligated to pay any increase in Owner’s insurance premium caused by an increase in rate which has been charged by the insurance company because of the occupancy of any other tenant in the building of which the demised premises are
a part. However, Tenant shall be responsible for any increase caused by any subtenant of Tenant. The preceding sentence shall not be deemed to be an implication that Owner consents to any subleasing of the premises unless otherwise permitted in this
lease. 
 (d)    Intentionally omitted. 

(e)    Any failure on Tenant’s part to promptly dispose of rubbish or
accumulations of flammable material on the premises or adjacent to the premises may have the effect of increasing the insurance rate on the building and involve the Tenant herein with additional liability. 

40.    Owner’s Obligations: (a) Notwithstanding anything contained herein to the contrary
in Article 4 hereof, the Tenant shall not be obligated to make any repairs to the roof, foundation, exterior walls, load-bearing interior walls or any structural defects (collectively, “Structural Repairs”) unless said repairs are
made necessary by the carelessness, omission, neglect or improper conduct of Tenant or Tenant’s servants, employees, invitees or licensees. Owner shall perform all Structural Repairs not required to be made by Tenant under this subparagraph
40(a), Tenant shall notify Owner of the same. If within twenty (20) days after such notice Owner fails to complete such repairs (or, if such repairs are of a nature that they cannot reasonably be completed within such twenty (20) day
period, Owner fails to commence such repairs within such twenty (20) day period and thereafter diligently prosecute the same to completion), then Tenant may cause such repairs to be made at Owner’s reasonable expense. If Owner in good
faith disputes its obligation to make any repair, such dispute shall be resolved by arbitration in Bridgeport, Connecticut under the auspices and rules of the American Arbitration Association. Tenant’s right to cure set forth in the previous
sentence shall be subject to any such arbitration proceeding. 

  
 18 

 (b)    Owner shall light the access
roads and parking areas during the hours between 7: 00 AM and 10: 00 PM, (but not after sunrise or before sunset), Monday through Friday, except on holidays. Tenant shall be responsible for lighting Tenant’s entrances and loading
areas. 
 (c)    Owner shall clean and remove snow and ice from the access
roads and parking areas (or, if the removal of ice is not reasonably possible, sand the same) except that Tenant shall remove snow and ice at Tenant’s entrances and on any paved way solely for Tenant’s use, or on any steps or stoops or
platforms leading to Tenant’s premises. 
 (d)    Owner shall not be
obligated to remove snow from areas in the vicinity of Tenant’s entrances or loading areas which were obstructed by a parked vehicle at the time Owner’s snow removal equipment was servicing the area. Owner shall not be obligated to
institute snow plowing unless the accumulation exceeds three (3) inches. 

(e)    Owner shall not be required, unless otherwise agreed to in writing, to
furnish any service during hours other than those set forth in this Lease. 

(f)    Owner shall maintain the access roads and parking areas in good order and
repair. Tenant shall perform, at its expense, any necessary repairs and maintenance with respect to the loading dock serving the demised premises 

(g)    Owner shall comply, at its expense, with those laws, ordinances, rules and
regulations (collectively, “Laws and Ordinances”) applicable to the building or the use and occupancy thereof, which Laws and Ordinances neither Tenant nor any other tenant or occupant of the building is obligated to comply with.

 41.    Tenant’s Obligations: (a) Tenant agrees not to employ any contractor in
connection with any services, provisions, alterations or maintenance, unless Owner has first consented in writing to the contractor (which consent shall not be unreasonably withheld), it being the intention of Owner to limit the number of such
contractors employed in the Park. 
 Tenant acknowledges that it shall be reasonable for Owner to withhold consent to the
contractor proposed by Tenant if the use of such contractor would tend to cause labor problems at the building. Owner may cause to be revoked any agreements or contracts whether written or oral if no such prior written consent has been obtained and
in such event Tenant shall forthwith cancel such contract as being invalid due to Tenant’s failure to obtain Owner’s prior consent. The categories of services referred to above shall include but not be limited to janitorial and window
cleaning services, extermination of vermin, HVAC maintenance, food services and vending machines. Owner’s disapproval of any contractor selected by Tenant must be accompanied by the designation of one or more contractors acceptable to Owner,
whose prices must be reasonably competitive. In the event Owner does not approve or disapprove Tenant’s contractor within seven (7) business days after receipt of written request therefore, then the contractor so selected by Tenant shall
be deemed to have been approved by Owner. 

  
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 (b)    With respect to any work to be
performed by the Tenant on the demised premises, in addition to any other limitations set forth in this Lease, Owner does not consent to the reservation of any title by any conditional vendor or secured party to any property which may be affixed to
the realty so as to become a part thereof, wholly or in any portion without material injury to the freehold. 
 (c)    Tenant shall promptly remove snow, litter or debris from the walkways, steps, or paved ways leading from the common areas to Tenant’s entrances, exits and loading areas
provided such walkways, steps and paved ways are for the sole use of Tenant. 

(d)    Tenant agrees, at it’s sole cost and expense, and throughout the term of
this Lease, to maintain in good working order (including changing of filters at least four (4) times per year), repair and replace where necessary, the heating and air conditioning units and systems by using reputable heating and air
conditioning contractors on a systematic basis, reasonably acceptable to Owner. Tenant shall submit on demand evidence of its maintenance contracts, as aforesaid. Tenant’s obligations under this subparagraph (d) shall be conditioned upon
Owner’s initial installation of heating and air conditioning equipment meeting the criteria of Exhibits B and C hereto. 
 (e)    Tenant agrees to purchase gas and electricity or any other fuel or source of energy at any time being supplied to the demised premises from the public utility company or the
appropriate vendor servicing the demised premises and shall pay directly to the applicable utility company or the appropriate vendor the consumption of electricity and gas or other fuel referred to above provided that Tenant’s usage is
separately metered. Owner shall not in any way be liable or responsible to Tenant for any loss or damage or expense which Tenant may sustain or incur if either the quantity or character of electrical or other such service is changed or is no longer
available or suitable for Tenant’s requirements, where such change is due to circumstances beyond Owner’s control. Owner’s responsibility shall be solely limited to the repair of any lines or pipes outside of the demised premises, the
repair of which may be the responsibility of Owner under the terms of this lease. In no event shall Owner be held responsible for any failure on the part of the utility company to repair or service its lines if such repair is not the Owner’s
responsibility or involves the line or property of the utility company. 

(f)    Owner shall have the right to purchase energy or energy sources other than
those available for the public utility company or companies serving the premises provided that such changes are mandated by public authority. Owner may apportion the cost of such energy sources reasonably among tenants, including the debt service
costs for any additional equipment required in connection with the distribution and use of such energy. Where such allocation is not on a metered basis, but on a rent inclusion basis, the allocation payable by Tenant shall be established by
Owner’s duly qualified professional engineer. In 

  
 20 

 the event Tenant disputes any such allocation, Tenant may employ a
reputable consultant to make a survey of the cost of such energy to the demised premises. The determination of such consultant shall be promptly submitted to Owner. If Owner’s and Tenant’s consultants cannot mutually agree as to the cost
of such energy, the matter shall be submitted to arbitration in accordance with the rules of the American Arbitration Association. Pending determination of such consultants’ reports Tenant shall continue to pay the charges as billed by Owner.
Each party shall pay the cost of its own consultant. Any final adjustment shall be made at the time of the arbitration award. Owner shall not in any way be liable or responsible to Tenant for any loss or damage or expense which Tenant may sustain or
incur if either the quantity or character of the energy to the building is changed or is no longer available or suitable for Tenant’s requirements, except that Owner shall diligently pursue such remedies as are reasonably consistent with other
terms of this Lease, and as are reasonably within Owner’s control. 

(g)    Tenant shall, at Tenant’s expense, keep the demised premises clean and
in order, to the reasonable satisfaction of Owner, and for that purpose shall employ the person or persons, or corporations approved by Owner in accordance with subparagraph 41 (a) hereof. 

(h)    In addition to the provisions of subparagraph 41 (c), Tenant shall pay the
cost of removal of any of Tenant’s refuse and rubbish from the building. Tenant shall independently contract for the removal of such refuse and rubbish. Owner reserves the right to select a refuse disposal contractor to serve the entire
Executive Park. The name of such contractor shall be available from the Owner upon request, and Tenant shall employ no other refuse removal or carting contractor without specific written prior approval from Owner. The removal of such refuse and
rubbish shall be subject to such rules and regulations as in the judgment of Owner are necessary for the proper operation of the building or buildings of which demised premises form a part, and of the Executive Park. 

(i)    Window coverings are for the Tenant’s account and are discretionary
except where the demised premises front onto a roadway facing the front entranceway of Tenant’s premises. Where Tenant’s industrial, as opposed to office uses, are visible from the outside, then in the event Tenant shall, throughout the
term of this Lease, provide draperies, blinds, or other suitable coverage satisfactory to Owner on any windows so located, except along the rear drive. 

(j)    Tenant shall keep all windows in premises clean at all times. However, Tenant
shall not be required to clean windows more often than once every three (3) months. 

(k)    Tenant shall replace, at the expense of Tenant, any and all plate and other
glass damaged or broken from any cause whatsoever in and/or around the demised premises, and insure and keep insured at Tenant’s expense all plate 

  
 21 

 and other glass in the demised premises for and in the name of Owner. If
such insurance cannot be obtained at reasonable rates, Tenant may self-insure. 

(l)    Tenant will make application for telephone service directly to the telephone
company. Owner does not initiate or provide said service. 
 42.    Notwithstanding any
other provisions contained in the instant Lease herein to the contrary, Owner shall have the right, at any time (when, in Owner’s reasonable judgment,) the demised premises become substantially vacant for in cases of emergency otherwise, if the
demised premises become substantially vacant more than fifteen (15) days, to enter upon same for the purposes of preventative maintenance or otherwise, whether or not Tenant has furnished the Owner with a key to the demised premises prior
thereto. If no key has been furnished by Tenant to Owner, and Owner is required to break the existing lock or locks and insert new locks therein, Tenant shall reimburse Owner for the cost thereof and same shall be deemed additional rent due
hereunder. 
 Owner shall furnish Tenant with keys to the demised premises at or prior to lease commencement.

 Tenant shall continue to maintain the demised premises so as to prevent damage thereto until the later of
lease expiration or the date Tenant vacates and surrenders the demised premises. Without limiting the foregoing Tenant shall continue to supply heat to the demised premises, together with all other utilities as reasonably determined by Owner.

 GENERAL 
 43.    It is understood and agreed that this Lease is submitted to the Tenant for signature with the understanding that it shall not bind the Owner unless and until it has been
executed by the Owner and delivered to the Tenant or Tenant’s attorney. 

44.    Tenant agrees within a reasonable time after being requested to submit such financial
information as may be reasonably required by Owner’s institutional first mortgagee. 

45.    Any striking out or deletion of any portion of this Lease was done as a matter of convenience
for the purpose of execution, and the language omitted is not to be given any effect whatsoever in construing this Lease. 
 46.    Notwithstanding anything to the contrary contained herein, the demised premises shall not be used in any manner nor shall any hazard be permitted therein that exceeds the
requirements of Section 301, Use Group B and use Group S-1, of the Connecticut Basic Building Code. 

47.    Preparation for Occupancy and Possession: (a) The demised premises shall be completed and
initially prepared for Tenant’s occupancy in the manner, and subject to the provisions of Article 63 hereto. Tenant and its contractor shall be entitled to access to the demised premises prior to the completion of Owner’s work only so long
as Tenant, its contractor and subcontractors work in conformity with and do not materially interfere, in Owner’s reasonable judgment, with Owner, its contractors or subcontractors in the completion of Owner’s 

  
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 work and provided Tenant’s subcontractors accept the administrative supervision of
Owner’s representatives. 
 Owner may withdraw the license granted to Tenant to perform any work within the demised
premises pursuant to this subparagraph upon twenty-four (24) hours written notice to Tenant in the event the Tenant’s work interferes with Owner’s work and provided that Tenant does not cause a cessation of such interference within
such 24 hour period. Worker’s Compensation, public liability insurance and property damage insurance, all in amounts and with companies reasonably satisfactory to the Owner shall be maintained by Tenant and/or its contractors and subcontractors
and certificates of such insurance shall be furnished to the Owner prior to the commencement of any Tenant work. Tenant’s selection of all contractors and subcontractors must be in conformance with Article 41. 

(b)    The demised premises shall be deemed to be substantially completed on the
date on which Owner’s work in the demised premises has been completed and the offices and warehouse are in move-in condition and ready for the normal conduct business, notwithstanding the fact that minor or insubstantial details of
construction, mechanical adjustment or decoration remain to be performed, the noncompletion of which would not materially interfere with Tenant’s use of the demised premises. 

(c)    If the substantial completion of the demised premises is delayed by reason
of: (i) any act or omission of Tenant or any of its employees, agents or contractors, including the failure of Tenant to comply with any of its obligations under the work specifications; or (ii) any failure (not due to any act or omission
of Owner or any of its employees, agents or contractors) to plan or execute Tenant’s work with reasonable speed and diligence; or (iii) any changes by Tenant in its drawings or specifications or any changes or substitutions requested by
Tenant, then the demised premises shall be deemed substantially completed on the date when they would have been substantially completed but for such delay. 

(d)    Pending the determination of any dispute with respect to the tax and common
charge rent escalations under Article 36 and 38 hereof, respectively, Tenant shall pay the rent as billed by Owner. 
 48.    Owner may bill to Tenant, and Tenant shall pay for the reasonable cost of directional signage as Tenant may desire or authorize and as first approved by Owner. Tenant may apply
to Owner for the installation of additional signage. Such requests shall be accompanied by a sketch showing the sign desired, its size, type and manner of mounting specifying the materials and finishes employed in the manufacture of same. Approval
by Owner shall not constitute approval for purposes of complying with rules and regulations of any public agencies applicable. It shall be Tenant’s obligation to secure such permissions or permits at Tenant’s expense. 

49.    Whenever reference is made herein to public halls, elevators, corridors, etc. and if none such
are present on or about the premises demised herein then such references shall have no relevance to the terms herein. 

  
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 50.    Wherever reference is made in this Lease to
“business days”, such business days shall exclude also all days observed by unions having jurisdiction over employees of Owner, Owner’s managing agent, or Owner’s cleaning contractor as legal holidays. 

51.    The terms and provisions of this lease shall be construed in accordance with and governed by
the laws of the State of Connecticut. 
 52.    Intentionally Omitted. 

53.    Mechanic’s Liens: Tenant will not permit, during the term hereby granted, any
mechanic’s or other lien or order for payment of work, labor, services, or materials furnished or to be furnished to, attach to or affect the demised premises or any portion thereof, and agrees that no such lien or order shall under any
circumstances attach to or affect the fee, leasehold or other estate of the Owner herein, or the building. The Tenant’s obligation to keep the demised premises in repair, and its right to make alterations therein, if any, shall not be construed
as the consent of the Owner to the furnishing of any such work, labor or materials within the meaning of any present or future lien law. Notice is hereby given that the Tenant has no power, authority or right to do any act or to make any contract
which may create, or be the foundation for, any lien upon the fee or leasehold estate of the Owner in the demised premises or upon the land or building of which they are a part of the improvements now erected or hereafter to be erected upon the
demised premises or the land or building of which the demised premises are a part; and if any such mechanic’s or other lien or order shall be filed against the demised premises or the land or building of which the demised premises are a part,
the Tenant shall, within thirty (30) days thereafter, discharge said lien or order by payment, deposit or by bond fixed in a proper proceeding according to law. If the Tenant shall fail to take such action, or shall not cause such lien or order
to be discharged within thirty (30) days after the filing thereof, the Owner may pay the amount of such lien or discharge the same by deposit or bond or in any other manner according to law, and pay any judgment recovered in any action to
establish or foreclose such lien or order, and any amount so paid, together with the expenses incurred by the Owner, including all reasonable attorney’s fees and disbursements incurred in any defense of any such action, bonding or other
proceeding, shall be deemed additional rent. 
 54.    Wherever reference is made to the
building or the Executive Park, it shall mean the building or the Executive Park in which the demised premises are located. 
 55.    Work Specifications. The plans prepared by Owner in accordance with Article 63 hereof are subject to revision based on the rules and regulations of such reviewing agencies as
the local board of inspectors, the state labor department, OSHA and related agencies. Any changes in door swings, arrangements of exits and/or passages mandated by such agencies shall be binding on Owner and Tenant as if they had been incorporated
into the original plans as attached hereto. In the case of any common foyers or exit passages mandated by such regulations and used by more than one tenant, the size of such areas or passages and the rent therefore shall be apportioned among the
parties in relation to the total square footage which they proportionately occupy, and such charges shall be payable as additional rent hereunder. 
 Owner shall have the right to add exits, entrances or passageways whenever necessary to comply with present or future regulation by applicable public authority. Tenant shall pay the 

  
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 cost thereof where the requirement for such addition is due solely to Tenant’s special
use of Premises 
 56.    Rules and Regulations: 

A.    Owner shall have the right to make reasonable changes to the shape and
location of parking areas and the use of same, but no action by Owner shall materially affect access to the leased premises, nor shall Owner do anything which would prevent the availability to the Tenant of the parking spaces described above. Tenant
and its officers, employees, agents, customers and invitees shall have the right, in common with Owner and all others to whom Owner has granted or may hereafter grant rights, to use the common areas as designated from time to time by Owner subject
to such reasonable rules and regulations as Owner may, from time to time, impose including the designation of special areas in which cars, trucks and other vehicles owned by the Tenant, its officers, employees, agents, customers and invitees
(including customers, shippers, etc.) must be parked. Tenant shall, upon request, promptly furnish to Owner the license number of the cars and trucks operated by Tenant, its officers and employees. Tenant shall not at any time interfere with the
rights of Owner and other occupants of the building or buildings, their officers, employees, agents, customers and invitees to use any part of the parking areas and other common areas not specifically allocated to Tenant. 

B.    In any location where the use of one loading dock interferes with the use of
another, such as on or near interior corners, the tenant occupying the larger space shall have priority in case of conflict but shall have no right to unreasonably obstruct access to the tenant occupying the smaller space, or, in no event to block
such access or any one period exceeding fifteen (15) minutes in duration. 

C.    Without limiting the provisions of Paragraph 35, Owner may promulgate such
rules and regulations with regard to the use of common areas as in its judgment may be desirable to improve the convenience thereof, and may close off such areas temporarily for the purposes of making repairs, alterations, to discourage unauthorized
parking, or to prevent the loss to Owner of exclusive control over said area. 

D.    It shall be Tenant’s responsibility to keep the loading areas free of all
refuse and debris and to arrange promptly for removal of any such materials which are not removed as part of Tenant’s regular refuse removal contract. If Tenant fails to remove substances such as, but not limited to miscellaneous lumber,
pallets, crates, packing materials, barrels or drums, etc. Owner shall have the right upon three (3) days written notice to remove or to arrange for the removal of such substances, and to charge Tenant the reasonable cost thereof, which shall
constitute additional rent under the terms of this Lease. Tenant shall promptly repair any damages to structures, paved areas and other common areas which have been damaged by Tenant, its agents, employees, servants or licensees. 

  
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 E.    Tenant shall not store any goods
outside of the building. 
 F.    Upon vacating the premises, Tenant shall
surrender to Owner originals or duplicate copies of all contracts and invoices in Tenant’s possession for mechanical maintenance, Services for heating and air conditioning equipment, including dates of service and nature of service performed.
No security deposit (if then on deposit with Owner) shall be returnable until Tenant has complied with the conditions hereinabove. Nothing contained in this paragraph, however, shall be deemed to give Tenant the right to bind Owner in any way, and
no service contract shall run beyond the term of this Lease as same may be terminated hereunder unless consented to in writing by Owner. 
 G.    Intentionally omitted. 

H.    Tenant shall, subject to the other applicable terms of this Lease, remove, on
vacating the premises, any private telephone systems, communicating systems or security systems unless Owner has specifically consented in writing to their remaining on the premises. 

I.    Wherever Tenant shall have affixed wall coverings, wall fixtures such as wall
shelving, hooks, pictures, etc. to the walls and shall have covered, obscured or penetrated Owners standard painted finish, Tenant shall be responsible, upon removal from premises, to leave behind a wall surface that is intact, generally acceptable
in color or type, and if not easily repaintable, shall be removed and the surface restored to a paintable condition. Where such wall coverings are serviceable or repairable they may be left in place, at Owner’s discretion. 

J.    Tenant shall, upon vacating the premises, promptly surrender to Owner any and
all keys to the premises. If keys have not been returned, Tenant shall be liable for the cost to Owner of replacing locks and keys. 
 K.    No pictures, bulletin boards, notices, etc. shall be affixed to any wall except by ordinary nail or picture hanger, and shall in no way be glued or otherwise permanently affixed
in such a manner as to cause damage to the wall surface upon removal. 

L.    Notwithstanding anything contained in Article 4 hereof, Tenant may, if
approved by Owner in writing, which approval shall not be unreasonably withheld, make interior nonstructural alterations provided Tenant complies with all of the following conditions with respect to any such alteration costing in excess of
$25,000.00. 
 1.    Tenant furnishes Owner a plan of the proposed
alterations prior to construction for Owner’s prior written approval; 

2.    Tenant furnished Owner with an “as built” plan upon completion of
alterations; 

  
 26 

 3.    Tenant will obtain all
governmental permits and pay all applicable governmental fees; 

4.    Tenant will use only contractors duly licensed and insured for such work where
applicable; 
 5.    Tenant will perform all alterations in a good and
workmanlike manner in accordance with standards at least equivalent to the standard prevailing in the building or buildings of which the demised premises form a part. Any failure partitions fronting on open ceiling space shall be taken to the
underside of the roof; 
 6.    Tenant accepts full responsibility for any
changes in sprinklers, passages, Legal exits, etc. which may be necessitated by such alterations and shall not do any work which shall adversely affect the remainder of the building of which the demised premises form a part; 

7.    Should such alterations result in any change in assessment due to the
improvements made, Tenant will pay all such additional taxes as may become due on account of such alterations or improvements as set forth in Article 36 (c); 

8.    Upon vacating the space, Tenant agrees to remove such alterations and to
reconstitute the premises to the condition in which they were delivered, normal wear and tear excepted, if so requested by Owner unless Owner has waived this requirement in writing; 

9.    In the event Tenant shall be authorized by Owner to remove any partitions,
Tenant shall be responsible for any repairs to be specifically authorize to remove said partitions, whether installed by Owner or Tenant. Such partitions shall be deemed part of the realty and shall not be removed. Nothing herein contained shall
prevent Owner, however, from requiring Tenant to remove any installation installed by or on behalf of Tenant of whatever nature whatsoever; 
 10.    Tenant shall not make any installation on or through the roof, nor shall Tenant or Tenant’s agents enter upon the roof or place objects thereon without the specific written
permission of Owner’s Maintenance Department which shall specify the time and conditions under which such entry may be obtained. Owner’s Maintenance Department may make such rules and regulations as they deem appropriate to govern
Tenant’s use or access to the roof for any purpose whatsoever. Owner makes no representation, implied or expressed, as to the load bearing capacity of the roof at any one point, and Tenant shall be responsible for any construction,
reconstruction or reinforcement necessary to make the roof suitable for Tenant’s purposes. 

  
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 M.    Any equipment installed by Tenant
or by Owner on behalf of Tenant which generates noise or vibrations shall be first approved by Owner and shall be installed by Tenant only in locations approved by Owner in writing, and provided such equipment shall be mounted and maintained on
shock absorbing pads of a size and material suitable for the equipment so installed. Notwithstanding such approval, Tenant shall be fully liable for the correction of any condition which causes the transmission of sound, noise or vibration through
the floor or structure of the building in such a manner as to interfere with the reasonable comfort and enjoyment of other space in the building by other tenants, as determined by Owner. 

N.    Owner will give credit for the omission of carpeting in the office area to
Tenant. If carpeting is furnished by Owner and if credit has been given towards such carpeting for the omission of the standard vinyl composite floor tile, then, in that event, even though Tenant may have contributed toward the cost of the
carpeting, the carpeting will remain the property of the Owner. Where Tenant has paid for carpeting in full, and where such carpeting is installed on the top of standard vinyl composite tile, Tenant may remove carpeting upon vacating the premise
provided all tackless installation strips are removed, all floor tile has been repaired or replaced as necessary, and all vinyl base other floor base has been reset to the level of the tile floor, repairing whatever wall or floor damage or
repainting may be necessary. Wherever carpeting is installed by the Tenant, by Tenant’s contractors or at Tenant’s direction, no carpeting shall be installed with an integral foam rubber backing, nor shall carpeting be installed by gluing
or other forms of cementing directly to the floor. Where such carpeting is installed in contravention to this provision, Tenant shall be liable for the costs of removing such glues or cements and reconstituting the floor to its original condition,
and recovering with acceptable carpet installed in an acceptable manner, or with 1/8” vinyl composite tile satisfactory to Owner. 
 O.    The water and wash closets and plumbing fixtures shall not be used for any purpose other than those for which they were designed or constructed and no sweepings, rubbish, rags,
acids or other substances shall be deposited therein, and the expense of any breakage, stoppage or damage resulting from the violation of this rule shall be borne by the tenant who, or whose clerks, agents, employees or visitors, shall have caused
it. 
 P.    No tenant shall sweep or throw or permit to be swept or thrown
from the demised premises any dirt or other substances out of the doors or windows or stairways or loading docks of the building, and Tenant shall not use, keep or permit to be used or kept any foul or noxious gas or substance in the demised
premises, or permit or suffer the demised premises to be occupied or used in a manner offensive or objectionable to Owner or other occupants of the building by reason of noise, odors and/or vibrations, or interfere in a way with other tenants of
those having business there, nor shall any animals or birds be kept in or about the building. 

  
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 Tenant shall not bring or permit to be brought or kept in or on the demised
premises any illegal amounts of inflammable, combustible or explosive fluid, material, chemical or substance, or cause or permit any odors of cooking or other processes, or any unusual or other objectionable odors to permeate in or emanate from the
demised premises. 
 Q.    No awnings or other projections shall be
attached to the outside walls of the building without the prior written consent of Owner. 

R.    No sign, advertisement, notice or other lettering shall be exhibited,
inscribed, painted or affixed by any Tenant on any part of the outside of the demised premises or the building or on the inside of the demised premises if the same is visible from the outside of the premises without the prior written consent of the
Owner, except that the name of Tenant may appear on the entrance door of the premises. In the event of the violation of the foregoing by any tenant, Owner may remove same without any liability, and may charge the expense incurred by such removal to
Tenant or Tenants violating this rule. Signs on doors shall be of a size, color and style acceptable to Owner. 
 S.    Tenant’s use of electrical current shall not exceed the capacity of the then existing feeders to the building or the risers or wiring installation and Tenant may not use any
electrical equipment which, in Owner’s reasonable opinion, will overload such installations or interfere with the use thereof by other tenants of the building. 

57.    If the Tenant intends to remain in the possession of the premises beyond the termination of
the Lease term herein, the Tenant shall give written notice, by Certified Mail, Return Receipt Requested, to the Owner to such effect at least ninety (90) days prior to the date on which Tenant expect to vacate the premises. For the time period
which constitutes the holdover tenancy, the monthly rental shall be one hundred and fifty percent (150%) of the total monthly rent paid during the last month of the Lease term herein. Subsequent to the first ninety (90) days of the
holdover period the rental shall be that which the Owner shall determine from time to time. 
 If the Tenant fails to give
written ninety (90) days notice as set forth above, and if the Tenant remains in the premises for more than seven (7) days past the expiration of the Lease term herein, then Tenant shall pay to Owner at least three (3) months rent as
defined above, from the date on which the Tenant first notifies Owner that it intends to remain on the premises as a holdover tenant whether or not Tenant actually remains in possession of the premises for the full three (3) months subsequent
to such notification. If the Tenant remains on the premises as a holdover tenant without having given Owner any notice, Tenant shall pay to Owner rent for a period of three (3) months from the time Tenant vacates the premises. For the period
from the expiration of the term until Tenant vacates, the rent shall be as determined above. All rent herein shall be due on the first day of the month. The acceptance of any rent as set forth herein by Owner shall not be deemed to prevent the Owner
from commencing a summary proceeding to remove the Tenant as a holdover tenant and collect the aforesaid rent for use and occupancy of said premises. 

  
 29 

 58.    Tenant shall look solely to the interest of the
Owner in the building for the satisfaction of Tenant’s remedies, and no other property or assets of the Owner shall be subject to levy, execution or other enforcement procedure for the satisfaction of Tenant’s remedies. For the purposes of
this Article 58, “the interest of the Owner in the building” shall be deemed to include Owner’s interest in the proceeds of a sale of the building or in insurance proceeds arising out of a casualty to the building. 

59.    Intentionally Omitted. 

60.    Any provision of this lease which requires Owner not to unreasonably withhold its consent or
approval shall never be the basis for an award of damages or give rise to a right of setoff or termination to Tenant, but may be the basis for a declaratory judgment or specific injunction with respect to the matter in question. 

61.    If Tenant shall fail to pay when due any installment of fixed annual rental or any additional
rent Tenant shall pay on the fifth day after the due date thereof a late charge equal to five (5%) percent of the unpaid amount. In addition, if Tenant shall fail to pay within ten (10) days after the due date, any installment of fixed
annual rental or any additional rent, Tenant shall pay interest thereon at an annual rate equal two percent above the rate designated as its prime rate by JP Morgan Chase Bank (or its successor) as of the due date, such interest being payable for
the period from the due date to the date of payment. Such interest shall be deemed additional rent. 

62.    (a)    On or before April 24, 2006 Tenant shall deliver to Owner
cash, in the amount of $28,300.00, as security for the faithful performance and observance by Tenant of the terms, conditions and provisions of this Lease, including without limitation the surrender of possession of the demised premises to
Owner as herein provided. Tenant’s failure to deliver the cash within such ten (10) day period shall be deemed a default by Tenant hereunder. If Tenant defaults in respect of any of the terms, conditions or provisions of this Lease
including, but not limited to, the payment of fixed annual rental or additional rent, and Tenant fails to cure any such default within any applicable cure period hereunder (i) Owner may, at the option of Owner (but Owner shall not be required
to) apply or retain the whole or any part of such sum so paid to it by Tenant to the extent required for the payment of any fixed annual rental and additional rent or any other sum as to which Tenant is in default, and (ii) Owner shall hold the
remainder of such sum paid to it by the Tenant, if any, as security for the faithful performance and observance by Tenant of the terms covenants, and conditions of this Lease on Tenant’s part to be observed and performed, with the same rights
as hereinabove set forth to apply or retain the same in the event of any further default by Tenant under this Lease. If owner applies or retains any part of the proceeds of the cash amount deposited by Tenant, Tenant, within five (5) days of
demand, shall deposit with Owner the amount so applied or retained so that Owner shall have the full deposit on hand at all times during the term of this Lease (and any extension). Tenant’s failure to do so within five (5) days of receipt
of such demand shall constitute a breach of this Lease. 
 (b)    In the
event of a sale or lease of Owner’s interest in the Building and/or the demised premises, Owner shall transfer the cash, together with any other sums then held by Owner as such security, to the vendee or lessee, and Owner thereupon shall be
released by Tenant from all liability under this 

  
 30 

 
Paragraph. Tenant agrees to look solely to the new Owner for the return of the cash or any sums collected thereunder and any other security, and it is agreed that the provisions hereof shall
apply to every transfer or assignment made of any sums collected thereunder and any other security to a new Owner. Tenant further covenants that it shall not assign or encumber or attempt to assign or encumber any part of such security and that
neither Owner nor its successors or assigns shall be bound by any such assignments, encumbrances, attempted assignment, or attempted encumbrance. Owner shall not be required to exhaust its remedies against Tenant before having recourse to such
security held by Owner. Recourse by Owner to such security shall not affect any remedies Owner which are provided in this Lease or which are available to Owner in law or equity. 

(c)    Within ten (10) days after the expiration or earlier termination of this
Lease and Tenant’s surrender of the demised premises as required herein, Owner shall return to Tenant the cash proceeds thereof and/or any sums held as security hereunder that Owner has not applied in accordance with this Article 62.

 63.    Owner’s Work and Fixed Rent: (a) Upon execution of this Lease by Tenant,
Owner shall prepare or cause to be prepared plans for fit-up work to be performed by Owner in the demised premises (“Plans”), which Plans shall be consistent with Tenant’s drawings previously submitted to Owner. Tenant’s
drawings are identified as Exhibit D. The Plans shall be subject to Tenant’s approval, which shall not be unreasonably withheld. If Tenant has not disapproved by notice to Owner (with specifics) the Plans within ten (10) business days
after receipt thereof, the Plans shall be deemed approved by Tenant. Owner shall perform the work called for in the Plans, and shall complete the same no later than September 15, 2006. Owner’s work shall be performed in accordance with the
specifications and conditions set forth in Exhibits B and C hereto. Upon substantial completion of Owner’s work, Tenant shall promptly remit to Owner payment therefore in the amount of $0.00, which shall be deemed additional rent
hereunder. 
 (b)    The annual fixed rent payable hereunder shall be as
follows, with the first lease year commencing on the Commencement Date and each subsequent lease year commencing on the first day of the thirteenth month thereafter: 
  

			
	 Annual Fixed Rent
	  	 Lease Year(s)

	 $250,250.00
	  	1-2
	 $253,750.00
	  	3-4
	 $262,500.00
	  	5
	 $270,900.00
	  	6-10

  

	*plus	any additional rent due per Articles 36 and 38. 

 Upon signing this Lease, Tenant will pay to Owner $24,500.00, which represents Tenant’s first monthly rent obligation for the first lease year of the initial term hereof. This includes the
rent due per article 63.b and article 38. Taxes, per article 36 are billed to Tenant upon occupancy and thereafter every June and December. 

  
 31 

 64.    Intentionally Omitted 

65.    If the demised premises are totally damaged or rendered wholly unusable by fire or other
casualty within the last year of the initial term or any extended term, Tenant may elect to terminate this lease by notice to Owner written fifteen (15) days after such casualty; whereupon this lease shall expire as if the termination date had
occurred and Tenant shall forthwith quit, surrender and vacate the demised premises without prejudice, however, to Owner’s rights and remedies against Tenant hereunder prior to such termination and any rent owing shall be paid to such date.

 66.    In the event that Tenant shall desire to sublet the demised premises or to permit
the same to be occupied by any person other than Tenant, officers or employees in its entirety, Tenant shall submit in writing to Owner the name of the proposed subtenant or occupant, the nature of and character of its business, the terms and
conditions of the proposed subletting, information as to the financial responsibility and standing of the proposed subtenant and such other information as Owner may reasonably request. Simultaneously with such submission, Tenant shall also deliver
to Owner a written agreement fully executed and acknowledged by Tenant surrendering the demised premises to Owner. If Owner shall not execute the surrender agreement within fifteen (15) days after receipt thereof, then Owner shall not
unreasonably withhold its consent to the proposed subletting. No such consent by Owner to Tenant’s subletting shall constitute a release by Owner of Tenant’s obligations under this Lease, and no such consent shall be deemed to permit
subtenant to further sublet any or all of the demised premises. In no event shall Tenant be permitted to advertise the demised premises at a rental less than the prevailing or reasonable rental for similar space at the time of the execution of such
sublease. Tenant shall have the herein right to sublet the demised premises provided Tenant is not then in default beyond any applicable cure period under the terms and conditions of this lease. The word “surrender” as used above
shall imply that if Owner accepts such surrender, Tenant shall thereafter be relived of any further obligations under this Lease. Tenant shall not sublet any portion of the premises nor assign, mortgage or encumber this lease without the prior
written consent of Owner in each instance. Notwithstanding the foregoing, without Owner’s consent and without Owner’s right to recapture the Premises but upon ten (10) days’ prior notice to Owner, this Lease may be assigned, or
the Premises may be sublet, to any entity which is an Affiliate, or Successor of Tenant. Within ten (10) days after the execution of any such assignment or sublease, Tenant shall deliver a complete copy of the documentation to Owner. For the
purposes of this Section, an “Affiliate” means any entity controlling, controlled by or under common control with Tenant. A “Successor” means any entity which acquires all or substantially all of the assets of
Tenant or which survives a statutory merger or consolidation which Tenant, provided that such entity has assets and a net worth at least equal to that of Tenant on the date of such acquisition or corporate transaction. If thereafter the transferee
shall no longer be an Affiliate of Tenant, that shall be deemed a new assignment or sublease, as the case may be, subject to this paragraph. 
 67.    Except in case of emergency, any entry by Owner into the demised premises as permitted hereunder shall be made upon reasonable prior notice to Tenant, which may include notice
by telephone. 

  
 32 

	 	68.    ENVIRONMENTAL	 REQUIREMENTS FOR HAZARDOUS WASTE AND MATERIALS: 

A.    No activity shall be undertaken on the demised premises or property of which
it is a part (“Premises”) which would cause (i) the premises to become a hazardous waste treatment, storage or disposal facility in violation of the Solid Waste Disposal Act, as amended, 42 U.S.C. 6901 et seq., as the same may
be amended, from time to time (“RCRA”), or any similar state laws, regulations or local ordinances, (ii) a release or threatened release of any hazardous substance from the premises which would cause Owner to incur response
costs under the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. 9601-9657, as the same may be amended from time to time (“CERCLA”), or any similar state laws, regulations or local
ordinances, (iii) the discharge of pollutants into any waters of the United States, or the emission of any air pollutant, in violation of either the Clean Water Act, as amended, 33 U.S.C. 1251 et seq., or the Clean Air Act, as amended, 42
U.S.A. 7401, et seq., or any similar state laws, regulations or local ordinances, or (iv) the manufacture, processing, distribution in commerce, use, or disposal of any chemical substance or mixture in violation of the Toxic Substances Control
Act, 15 U.S.C. Section 2601, et seq. (the “Act”); 

B.    Tenant shall comply strictly and in all respects with the requirements of the
Environmental Laws and shall notify Owner promptly in the event of any violation upon the Premises, and shall promptly forward to Owner copies of all orders, notices, permits, applications or other communications and reports in connection with any
such violation or any other matters relating to the Environmental Laws as they may affect the Premises; 
 C.    Tenant shall indemnify Owner and hold Owner harmless from and against all loss, liability, damage and expenses, including attorney’s fees, suffered or incurred by Owner, its
successors or assigns (i) under or on account of the Environmental Laws, including the assertion of any lien thereunder; (ii) with respect to any violation affecting the premises; and (iii) with respect to any other matters affecting
the premises or any interest therein and governed by the provisions of the Environmental Laws or involving directly or indirectly, the use, generation, treatment or storage or disposal of any hazardous or toxic chemical, material substance or waste;

 D.    In the event of any violation affecting the premises, if Tenant
shall fail to comply with any of the requirements of the Environmental Laws, Owner may at its election, but without the obligation to do so, give such notices and/or cause such work to be performed at the premises and/or take any and all other
actions as Owner shall deem necessary to advisable in order to remedy said violation or cure said failure of compliance, and any amounts paid as a result thereof, together with interest thereon at the interest rate after default set forth in the
Lease from the date of payment by Owner, shall be immediately due and payable by Tenant to Owner as additional rent and shall to the extent permitted by 

  
 33 

 
law have the benefit of any lien hereby created as a part of this Lease. The occurrence, presence or discharge of any pollutants or hazardous waste shall not constitute an Event of Default under
this Lease so long as Tenant complies with the requirements of Environmental Laws as provided above. 
 Wherever
the Environmental Law statute or regulation requires the “owner or operator” to do any act, or obtain a permit, Tenant shall do such act or obtain such permit at its sole cost and expense, it being the intention of the parties hereto that
Owner shall be free of all expenses and obligations arising from or in connection with compliance therewith and that Tenant shall fulfill all such obligations and pay all such expenses. 

The Tenant shall promptly notify the Owner in writing of any order or pending or threatened action by any regulatory
agency or other governmental body, or any claims made by any third party, relating to Hazardous Materials on, or emanations from, the premises, and shall promptly furnish the Owner with copies of any correspondence of legal pleadings in connection
therewith. 
 In addition, the Owner shall have the right, but shall not be obligated, to notify any state,
federal or local governmental authority of information which may come to its attention with respect to Hazardous Materials on or emanating from the premise and Tenant irrevocably releases Owner from any claims of loss, damage, liability, expense or
injury relating to or arising from, directly or indirectly, any such disclosure. 
 Following (i) any spill
affecting the premises, (ii) any claim of any violation of the Environmental Laws with respect to the premises, (iii) any order, action or threatened action by any regulatory agency or other governmental body, or any claim made by any
third party, relating to Hazardous Materials on, or emanations from the premises, (iv) or at such other time or times as may under the circumstances be reasonable during the term of this Lease, or at any time following the occurrence of an
Event of Default, the Owner may require the Tenant to provide the Owner, at the expense of the Tenant, an inspection or audit of the premises, prepared by a qualified consultant approved by Owner, certifying as to the presence or absence of
Hazardous Materials, or to permit the Owner to so inspect or audit the premises at the Tenant’s expense, and Tenant hereby grants Owner, its employees, agents, and independent contractors, the right to enter upon the premises for the purpose of
conducting tests, soil borings, the installation of monitoring wells and such other tests as Mortgagee deems necessary or desirable. 
 E.    Survival of Lease Expiration. Tenant agrees that each and every provision of these provisions shall survive the expiration or earlier termination of the terms of this lease, the
parties hereto expressly acknowledging and agreeing that Owner would not enter into this lease but for the provisions of these provisions and the aforesaid survival thereof. 

69.    Guaranty. On February 2, 2006, the Owner received a Guaranty from Teavana Holdings, Inc a
Delaware corporation. This Guaranty is attached to the Lease as Exhibit “G”. This Guaranty is hereby ratified and confirmed to be in full force and effect. 

  
 34 

 IN WITNESS WHEREOF, Owner and Tenant have respectively signed and sealed this Lease as of
the day and year first above written. 
  

											
	 FOR:
	 	500 LONG BEACH, LLC	 		  	
				
		 	 BY:
	 	 Stratford Land Development Company Limited Partnership
	  	
		 		 	 Its:
	 	 Managing Member
	 		  	
				
		 	 BY:
	 	 The Stratford Industrial Corporation
	  	
		 		 	 Its:
	 	 General Partner
	 		  	
					
		 	 BY:
	 	 /s/ James R. Caissy
	 		  	
		 		 	 James R. Caissy
	 		  	
		 		 	 Its:
	 	 Vice President
	 		  	
			
	 FOR:
	 	 St Acquisition Company
	  	
					
		 	 BY:
	 	 /s/ Juergen Link

Juergen Link
	 		  	
		 		 	 Its:
	 	 President
	 		  	

  

			
	 STATE OF CONNECTICUT
	  	 )

		  	 )

	 COUNTY OF FAIRFIELD
	  	 )

 The foregoing
instrument was acknowledged before me this 9th day of February 2006 by Juergen Link,                      [title] on behalf of St. Acquisition
Company a Connecticut corporation, on behalf of the corporation. 
  

	
	 /s/ Yolanda Mitchell

Notary Public
 My
Commission Expires:6/30/06

  

			
	 STATE OF CONNECTICUT
	  	 )

		  	 )

	 COUNTY OF FAIRFIELD
	  	 )

 The foregoing
instrument was acknowledged before me this      day of February 2006 by James R. Caissy, manager on behalf of 500 Long Beach, LLC a Connecticut limited liability company, on behalf of the company. 

 

	
	 /s/ Yolanda Mitchell

Notary Public
 My
Commission Expires:6/30/06

  
 35 

 Exhibit A 
 2/9/06 

 

 

  
 A-1

 EXHIBIT B 
 STRATFORD EXECUTIVE PARK 
 BUILDING STANDARD WORK LETTER 

STRATFORD EXECUTIVE PARK consists of attractive campus-type office and flexible use buildings. Glass front entrance doors are provided as
necessary. Discretely concealed loading docks and delivery doors are provided in the rear of the building. Parking in provided along the front elevation and in the rear delivery areas. The entire perimeter is attractively landscaped. Grounds and the
building roof and structure will be maintained by the Owner. 
 Some of the following items are already existing and in place.
Owner agrees at its sole expense and without charge to Tenant to do the work shown on Exhibit “D” (Owner’s Work) per the following Standard Work Letter in the demised premises within 500 Long Beach Boulevard. 

 

			
	 WINDOWS:
	  	Tinted double-glazed insulating glass set in square tubing.
		
	 FLOOR SLAB:
	  	Concrete slab on grade with wire mesh reinforcement. Load capacity 350 lbs/psf +/-.
		
	 INTERIOR:
	  	As per agreed by lessor & lessee. See Exhibit D, PARTITIONS.
		
	 DOORS:
	  	Solid core 3’0” x 7’0” doors (lesser widths for closets, rest rooms and other special areas. Doors shall be provided as per exhibit D. Doors to be paint grade
and undercut for air movement.
		
	 CEILINGS:
	  	Office areas: 5/8” acoustical mineral board, 2’x4” tiles in a suspended T-grid system. Unfinished areas will have open ceilings.
		
	 LIGHTING:
	  	Office area: recessed 2’ x 4”, 4 lamp, 40 watt fluorescent fixtures with acrylic lenses, approximately one fixture for each 80 square feet of ceiling area. Unfinished
area: 400 watt metal halide fixtures set on bar joists, approximately one fixture for each 750 square feet of floor space.
		
	 OUTLETS:
	  	In the office areas, duplex convenience outlets will be supplied at the rate of approximately one outlet for each 125 square feet.
		
	 SWITCHES:
	  	Wall switches will be provided in each private office and at entrance to open areas.
		
	 PLUMBING:
	  	Copper water lines. Plastic storm drains and plastic sanitary sewer lines.

  
 B-1

			
	 FLOORS:
	  	Office areas, carpeting or 1/8” 12 x 12 vinyl composite floor tile. Other areas, concrete.
		
	 COLUMNS:
	  	Structural steel. Average bay size: 38’6” x 49’.
		
	 LAVATORIES:
	  	As per Exhibit “D”. Semigloss paint on walls and VCT flooring. Multiple W.C.’s enclosed in floor mounted metal partitions. Standard white fixtures include: water
closets, urinals, sinks, flushometers, miscellaneous toilet accessories, mirrors, and exhaust fans.
		
	 HVAC:
	  	Office areas: combination rooftop heating and air conditioning units with full ducted delivery system. Heating is gas fired. Unfinished areas are furnished with gas fired unit
heaters.
		
	 PAINTING:
	  	All partitions will be painted with eggshell finish latex paint. Exposed metal surfaces, such as convector enclosure, metal doors and bucks will be pained with semi-gloss enamel.
Colors to be selected from Owner’s standard Color Chart.
		
	 ELECTRIC SERVICE:
	  	4 wire, 3 phase, 277/480 volt service. Separate meter or sub-meter installed on premises.
		
	 GAS SERVICE:
	  	Heat supplied by gas unit; separate meter or sub-meter installed on premises.
		
	 HOT WATER:
	  	Individual electrical hot water heater.
		
	 SPRINKLER SYSTEM:
	  	Automatic wet pipe system installed throughout.
		
	 CEILING HEIGHT:
	  	Office area hung ceiling: approximately 9’. Unfinished areas: to joists, 24’ clear +/-.
		
	 DELIVERY SYSTEM:
	  	Two 8’ x 10’ loading dock doors with seals as per Exhibit D.
		
	 EXTERIOR CONCRETE
 PAD:
	  	One concrete pad for reuse container as shown on Exhibit D.
		
	 ENTRANCES:
	  	Individual aluminum glass entry door in office area.
		
	 ROOFING:
	  	Exposed metal decking with a equivalent R-19 insulation, Certainteed Black Diamond base and APP modified bitumen smooth surfaced membrane.
		
	 SUBSTITUTIONS:
	  	Tenant may substitute like items for Building Standard items but no credits for building items so substituted. No credit will be given for building items not utilized by
Tenant.

  
 B-2

 The following items pertinent to tenant’s space are not furnished by Owner and will be
at Tenant’s initiative and expense. 
  

			
	 TELEPHONES:
	  	Tenant shall make arrangements for installation of telephone service. Owner will not provide or initiate such service.
		
	 ENTRY ALARM SYSTEM:
	  	Tenant shall make arrangements for installation of alarm system, or use of any existing one already on the premises.
		
	 OPTIONAL ITEMS:
	  	Wall, ceiling and floor finishes other than standard, including accent colors, and more than one color per room. Glass and sound conditioned partitions. Extra width and full
heighted doors. Dedicated electric circuits and electric outlets other than in office areas.

  
 B-3

 EXHIBIT C 
 WORK SPECIFICATIONS 
 Utility-Warehouse Area 

Heating is provided by means of gas-fired suspended warm air furnaces, to maintain 60-degree F. when outside temperature is zero degrees
F. with a maximum wind velocity of 15 MPH, providing tenant is not exhausting heater air in which case tenant shall provide fresh air make-up heater. At truck bay, heating system will maintain 50-degrees F. (at 0-degree outside with a 15 MPH wind
velocity) based on intermittent use of outside doors. 
 Office Area 

Entire office area is heated and air conditioned by a roof-mounted combination heating/cooling unit and a duct system to maintain, for
heating, 70’F. inside when outside temperature is 0’F., with a maximum wind velocity of 15 MPH and, for cooling inside 80’F. dry bulb with a 50% relative humidity when outside temperature is 95’F dry bulb and 75’F. wet bulb.
Air conditioning specifications are designed on the basis of doors and windows being closed, as well as all areas in the air conditioned premises being provided with Venetian blinds, shades or drapes which shall be closed, depending on the position
of the sun. 
 Electric Service 
 Electric Service furnished to the premises shall be 400 Amperes 277/480V, 3 phase 4 wire. 

Floor Load 
 Floors are
rated for a maximum load of 350 lbs. per square foot. 
 Rest Rooms 

Office: 2 rest rooms with 1 lavatory and 1 water closet. Warehouse: 1 rest room with two lavatories and one water closet. 1 rest room
with one water closet, two urinals and two lavatories. (w.c. enclosed in flush-type floor-mounted metal compartment). Plumbing fixtures to be white. 
 All selections or designations to be made by tenant are to be made within five (5) business days after request by Owner. If tenant has not made designations or selections within said period, the
Owner shall be authorized to do so on behalf of the tenant. 

  
 C-1

 Exhibit D 
 2/9/06 

 

 

  
 D-1

 EXHIBIT G 
 GUARANTY 
 GUARANTY made this 2nd day of February, 2006, by
Teavana Holdings, Inc., a Delaware corporation with its principal office at One Live Oak Center, 3475 Lenox Road, Suite 960, Atlanta, GA 30326 (“Guarantor”), to 500 Long Beach LLC, a Connecticut limited liability company with its
principal office at 300 Long Beach Boulevard, Stratford, CT 06615 (“Owner”). 
 PRELIMINARY STATEMENT

 In order to induce Owner to enter into a lease dated the date hereof (the “Lease”) with
ST Acquisition Company (“Tenant”), a wholly-owned subsidiary of Guarantor, covering the premises at 500 Long Beach Boulevard, Stratford, Connecticut, and for other good and valuable consideration, receipt of which is hereby
acknowledged, Guarantor agrees as follows: 
  

	1.	 Guaranty. 

 Guarantor guarantees that all sums stated in the Lease to be payable by Tenant will be promptly paid in full when due, whether at maturity, by acceleration of otherwise, in accordance with the provisions
thereof, and that Tenant will perform and observe each and every covenant, agreement, term and condition in the Lease to be performed or observed by Tenant. Guarantor also guarantees those representations made by Tenant in the Lease. Anything in
this Guaranty to the contrary notwithstanding, if (a) Tenant shall default under the Lease beyond any applicable cure period, (b) Owner shall terminate the Lease and (c) Tenant shall promptly vacate the leased premises in accordance
with the requirements of the Lease, then Guarantor’s liability under this Guaranty shall not exceed $293,000 plus collection from Guarantor. 
  

	2.	 Absolute Nature; Costs of Collection. 

This Guaranty stall be irrevocable, unconditional and absolute, and if for any reason any such sums or any part thereof,
shall not be paid by Tenant promptly when due, Guarantor shall immediately pay the same to Owner pursuant to and in accordance with the provisions of the Lease, regardless of any defenses or rights of set-off or counterclaim which Tenant may have or
assert; regardless of whether Landlord shall have taken any steps to enforce any rights against Tenant or any other person to collect such, or any part thereof; and regardless of any other condition or contingency. Guarantor shall also pay to
Landlord such further amount as shall be sufficient to cover the reasonable cost and expense of collecting such sums, or part thereof, or of otherwise enforcing the Lease or this Guaranty, including without limitation, in any case, reasonable
counsel fees, court costs and other litigation expenses. Upon Tenant’s failure to perform or observe any covenant agreement, term or condition in the Lease to be performed or observed by Tenant Guarantor will promptly perform and observe the
same or cause the same promptly to be performed or observed. 

  
 G-1

	3.	 No Release; Bankruptcy. 

 (a)    The obligations, covenants, agreements and duties of Guarantor under this Guaranty shall in no way be affected or impaired by reason of the happening from time to time of any of
the following, although without notice to or the further consent of Guarantor: 

(i)    the waiver by Owner of the performance or observance by Tenant or Guarantor of
any of the agreements, covenants, terms or conditions contained in the Lease or this Guaranty; 

(ii)    the extension, in whole or in part, of the time for payment by Tenant or
Guarantor of any sums owning or payable under the Lease or this Guaranty, or of any other sums or obligations under or arising out of or on account of the Lease or this Guaranty; 

(iii)    any assignment of the Lease or subletting of the demised premises thereunder
or any part thereof; 
 (iv)    the modification or amendment (whether
material or otherwise) of any of the obligations of Tenant or Guarantor under the Lease or this Guaranty; 
 (v)    the renewal, extension or renegotiation of the term of the Lease; 
 (vi)    any failure, omission or delay on the part of Owner to enforce, assert or exercise any right, power or remedy conferred on or available to it in or by the Lease or this
Guaranty, or any action on the part of Owner granting indulgence or extension in any form whatsoever; 
 (vii)    the voluntary or involuntary liquidation, dissolution, sale of all or substantially all of the assets, marshaling of assets and liabilities, receivership, conservatorship,
insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, composition or readjustment of, or other similar proceedings affecting, Tenant or any of its assets; 

(viii)    the release of Tenant from the performance or observation of any of the
agreements, covenants, terms or conditions contained in the Lease by operation of law; 

(ix)    the inability of Owner to enforce any provision of the Lease for any reason;

 (x)    the disposition by Guarantor of part or all of the outstanding
stock of Tenant; or 
 (xi)    the death, disability or termination of
partnership status of one or more of the persons constituting Guarantor. 

(b)    Owner’s recovery against Guarantor hereunder shall not be affected by the amount of any
allowable claim in a bankruptcy proceeding involving Tenant or any other 

  
 G-2

 proceeding of the type described in subparagraph (a)(vii) herein and involving Tenant
(except to the extent of any amount actually recovered in such a proceeding). 
  

	4.	 Assumption of Obligations. 

 In the event of the rejection or disaffirmance of the Lease by Tenant or Tenant’s trustee in bankruptcy pursuant to the federal bankruptcy law or any other law affecting creditors’ rights,
Guarantor will, and does hereby (without the necessity of any further agreement or act), assume all obligations and liabilities of Tenant under the Lease, to the same extent as if (a) it were originally named Tenant under the Lease, and
(b) there had been no such rejection or disaffirmance. Guarantor will confirm such assumption in writing, at the request of Owner, upon or after such rejection or disaffirmance, and Guarantor shall upon such assumption (to the extent permitted
by law) have all rights of Tenant under the Lease. 
  

	5.	 Waiver of Rights to Subrogation and Reimbursement. 

Following any payment or payments made by Guarantor hereunder, or any application by Owner of any security deposit under
the Lease, Guarantor shall not assert or exercise any rights of Owner against Tenant to recover the amount of any such payment by such Guarantor hereunder or the value of any such collateral by way of subrogation, reimbursement, contribution,
indemnity or otherwise arising by contract or operation of law; and Guarantor shall not have any right of recourse to or any claim against assets or property of Tenant, whether or not the obligations hereunder have been satisfied, all of such rights
being herein expressly waived by Guarantor. If any amount shall nevertheless be paid to Guarantor by Tenant, such amount shall be held in trust for the benefit of Owner and shall forthwith be paid to Owner to be credited and applied to the
obligations hereunder, whether matured or unmatured. The provisions of this Paragraph shall survive the termination of this Guaranty and any satisfaction and discharge of Tenant by virtue of any payment, court order or any federal or state law.

  

	6.	 Separate Action. 

 Guarantor agrees that all of its obligations under this Guaranty are independent of the obligations of Tenant under the Lease and that a separate action may be brought against it, whether or not an action
is commenced against Tenant under the Lease. 
  

	7.	 Applicable Law; Jurisdiction. 

 This Guaranty shall be construed in accordance with the laws of the State of Connecticut. Guarantor hereby consents that suit may be bought against it under this Guaranty in any federal, state or local
court in the State of Connecticut. Guarantor hereby submits to personal jurisdiction in the State of Connecticut and hereby waives any immunity from jurisdiction, process or attachment, with respect to itself or its property. Guarantor consents that
service of process in any action or proceeding may be made by personal service upon Guarantor wherever Guarantor may be then located or by certified or registered mail directed to Guarantor at Guarantor’s last known address. 

  
 G-3

	8.	 Miscellaneous. 

 This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors, assigns, heirs and personal representatives. This Guaranty may not be modified or
amended except by a written agreement duly executed by Guarantor and Owner. 

  
 G-4

 IN WITNESS WHEREOF, Guarantor has caused this Guaranty to be executed by its
officer thereunto duly authorized. 
  
  

					
	 For:
	 		 	 Teavana Holdings, Inc.

		 		 	  

		 		 	 Andrew Mack
 Its CEO

  
  

					
	 STATE OF
	  	  
	    	)
		  		    	)
	 COUNTY OF
	  	  
	    	)

 The foregoing instrument
was acknowledged before me this                                  by Andrew
Mack, its                             on behalf of Teavana Holdings, Inc. a Delaware corporation,
on behalf of the corporation. 
  

	
	  

	 Notary Public

My Commission Expires:

  
 G-5

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