Document:

Mezzanine Loan and Security Agreement, dated September 25, 2015

 Exhibit 10.20 

EXECUTION VERSION 

MEZZANINE LOAN AND SECURITY AGREEMENT 

THIS MEZZANINE LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of September 25, 2015 (the
“Effective Date”) among SG ENTERPRISES II, LLC, a Washington limited liability company (the “Lender”), and IMPINJ, INC., a Delaware corporation (“Borrower”), and provides the terms on which Lender
shall lend to Borrower, and Borrower shall repay Lender. The parties agree as follows: 
 1 ACCOUNTING AND OTHER TERMS

 Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made
following GAAP, provided, however, that (x) any obligations of a Person under a lease (whether existing now or entered into in the future) that is not (or would not be) a capital lease obligation under GAAP as in effect on the Effective
Date shall not be treated as a capital lease obligation solely as a result of the adoption of changes in GAAP. Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section 13. All other terms contained
in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent such terms are defined therein. 

2 LOAN AND TERMS OF PAYMENT 

2.1 Promise to Pay. Borrower hereby unconditionally promises to pay Lender the outstanding principal amount of the Term Loan and
accrued and unpaid interest thereon as and when due in accordance with the terms of the applicable Loan Documents. The Term Loan shall be evidenced by the Note executed by Borrower and payable to the order of Lender, in the total principal amount of
the Loan. 
 2.1.1 Term Loan. 

(a) Availability. On the Effective Date, Lender shall make a term loan to Borrower in an aggregate principal amount equal to Five
Million Dollars ($5,000,000) (the “Term Loan). 
 (b) Repayment. Interest shall be due and payable on the first day of
each month as provided under Section 2.2(c). Principal payments on the Term Loan shall commence on the first day of the twenty-fifth (25th) full month following the Effective Date, and
shall continue on the first day of each subsequent month until the Term Loan Maturity Date. Each principal payment shall be in a principal amount equal to $138,888.88, provided that all outstanding principal amounts of the Term Loan shall be due and
payable in full on the Term Loan Maturity Date. 
 (c) Prepayment. Subject to the terms of any subordination agreement with a Senior
Lender, including the SVB Subordination Agreement, Borrower shall have the option to prepay all or any portion of the Term Loan advanced by Lender under this Agreement, provided Borrower (a) provides written notice to Lender of its
election to prepay the Term Loan at least ten (10) days prior to such prepayment (or such shorter notice period as permitted by the Lender), and (b) pays, on the date of the prepayment (i) all accrued and unpaid interest with respect
to the portion of the Term Loan so prepaid through the date the prepayment is made; (ii) all unpaid principal with respect to the portion of the Term Loan so prepaid; and (iii) all other sums, if any, that shall have become due and payable
hereunder with respect to this Agreement. 
 2.2 Payment of Interest on the Term Loan. 

(a) Interest Rate. 
 (i)
Term Loan. Subject to Section 2.2(b), the principal amount outstanding for the Term Loan shall accrue interest at a fixed per annum rate equal to eighteen percent (18.0%). 

(b) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear interest at
a rate per annum which is five percentage points (5.00%) above the rate 

  
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that is otherwise applicable thereto (the “Default Rate”) unless Lender otherwise elects from time to time in its sole discretion to impose a smaller increase. Fees and expenses
which are required to be paid by Borrower pursuant to the Loan Documents (including, without limitation, Lender Expenses) but are not paid when due shall bear interest until paid at a rate equal to the highest rate applicable to the Obligations.
Payment or acceptance of the increased interest rate provided in this Section 2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or
remedies of Lender. 
 (c) Payment; Interest Computation; Float Charge. Interest is payable monthly on the first calendar day of each
month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 5:00 p.m. Pacific time on any day shall be deemed received at the opening of business on
the next Business Day, and (ii) the date of the making of the Term Loan shall be included and the date of payment shall be excluded; provided, however, that if the Term Loan is repaid on the same day on which it is made, such day shall be
included in computing interest on the Term Loan. 
 2.3 Fees. Borrower shall pay to Lender: 

(a) Term Loan Commitment Fee. A fully earned, non-refundable commitment fee in an amount equal to one and a half percent (1.5%) of
the Term Loan is due on the Effective Date; and 
 (b) Lender Expenses. All Lender Expenses (including reasonable attorneys’
fees and expenses for documentation and negotiation of this Agreement) as of the Effective Date, and incurred through and after the Effective Date, when due. 

2.4 Payments; Application of Payments. All payments (including prepayments) to be made by Borrower under any Loan Document shall be
made in immediately available funds in U.S. Dollars, without setoff or counterclaim, before 12:00 p.m. Pacific time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Pacific time are considered received at the
opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid. 

2.5 Mandatory Prepayment. If Borrower receives a notice of redemption election from the requisite stockholders of Borrower pursuant to
the terms of its certificate of incorporation, as amended (the “Charter”), which requires Borrower to repurchase capital stock of such stockholders pursuant to the terms of its Charter and if Borrower is legally permitted to
repurchase such capital stock under applicable law, then Borrower shall notify Lender of such redemption notice not less than twenty (20) days prior to the required date of repurchase of such capital stock pursuant to the terms of the Charter,
and at Lender’s written election, Lender may require that Borrower be required to prepay all or a portion of the outstanding Obligations under this Agreement five (5) Business Days prior to the required date of repurchase of such capital
stock pursuant to the terms of the Charter. Following notice to Lender of the receipt of a redemption notice by Borrower, Borrower shall provide Lender with such additional information relating to the redemption notice as Lender may reasonably
request. 
 3 CONDITIONS OF LOANS 

3.1 Conditions Precedent to Extension of Term Loan. Lender’s obligation to make the Term Loan is subject to the condition
precedent that Lender shall have received, in form and substance satisfactory to Lender, such documents, and completion of such other matters, as Lender may reasonably deem necessary or appropriate, including: 

(a) duly executed original signatures to the Loan Documents; 

(b) duly executed original signatures to the completed Borrowing Resolutions for Borrower; 

(c) evidence satisfactory to Lender that the insurance policies required by Section 6.4 hereof are in full force and effect, together
with appropriate evidence showing lender loss payable and/or additional insured clauses or endorsements in favor of Lender; 

  
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 (d) no event has occurred that in Lender’s sole judgment, has resulted in a material
adverse effect to Borrower’s business, assets, financial condition, operations, results of operations and prospects; 
 (e) a
certificate duly executed by a Responsible Officer certifying that (i) the representations and warranties of Borrower are accurate in all material respects and (ii) no Event of Default exists; and 

(f) payment of the fees and Lender Expenses then due as specified in Section 2.3 hereof. 

4 CREATION OF SECURITY INTEREST 

4.1 Grant of Security Interest. Borrower hereby grants Lender, to secure the payment and performance in full of all of the Obligations,
a continuing security interest in, and pledges to Lender, the Collateral, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof. 

4.2 Priority of Security Interest. Borrower represents, warrants, and covenants that the security interest granted herein is and shall,
subject to Section 6.5, at all times continue to be a first priority perfected security interest in the Collateral (subject only to Permitted Liens that may have superior priority to Lender’s Lien under this Agreement and Liens granted by
Borrower to Bank pursuant to the SVB Loan Agreement). If Borrower shall acquire a commercial tort claim, Borrower shall promptly notify Lender in a writing signed by Borrower of the general details thereof and grant to Lender in such writing a
security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Lender. 

If this Agreement is terminated, Lender’s Lien in the Collateral shall continue until the Obligations (other than inchoate indemnity
obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations (other than inchoate indemnity obligations), Lender shall, at Borrower’s sole cost and expense, release its Liens in the Collateral and all rights therein
shall revert to Borrower. 
 4.3 Authorization to File Financing Statements. Borrower hereby authorizes Lender to file financing
statements, without notice to Borrower, with all appropriate jurisdictions to perfect or protect Lender’s interest or rights hereunder. 

5 REPRESENTATIONS AND WARRANTIES 

Borrower represents and warrants as follows: 

5.1 Due Organization, Authorization; Power and Authority. Borrower is duly existing and in good standing in its jurisdiction of
formation and is qualified and licensed to do business and is in good standing in any jurisdiction in which the conduct of its business or its ownership of property requires that it be qualified except where the failure to do so could not reasonably
be expected to have a material adverse effect on Borrower’s business. Borrower represents and warrants to Lender that (a) Borrower’s exact legal name is that indicated on the on the signature page hereof; (b) Borrower is a
corporation incorporated under that laws of the state of Delaware; (c) Borrower’s chief executive office as well as Borrower’s mailing address (if different than its chief executive office) is set forth in Section 10 (or is as
otherwise notified by Borrower from time to time in writing); and (d) Borrower (and each of its predecessors) has not, in the past five (5) years, changed its jurisdiction of formation, organizational structure or type, or any
organizational number assigned by its jurisdiction. If Borrower is not now a Registered Organization but later becomes one, Borrower shall promptly notify Lender of such occurrence and provide Lender with Borrower’s organizational
identification number. 
 The execution, delivery and performance by Borrower of the Loan Documents to which it is a party have been duly
authorized, and do not (i) conflict with any of Borrower’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law, (iii) contravene, conflict or violate any
applicable order, writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by,
filing, registration, or qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full 

  
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force and effect) or (v) constitute an event of default, or require consent of any third party that has not already been obtained, under any material agreement by which Borrower is bound,
including, but not limited to, any agreements underlying any Permitted Senior Indebtedness. Each of this Agreement and the other Loan Documents constitutes the valid and binding obligation of the Borrower, enforceable against the Borrower in
accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles
(whether enforcement is sought by proceedings in equity or at law). Borrower is not in default under any agreement to which it is a party or by which it is bound in which the default could reasonably be expected to have a material adverse effect on
Borrower’s business. 
 5.2 Collateral. Borrower has good title to, has rights in, and the power to transfer each item of the
Collateral upon which it purports to grant a Lien hereunder, free and clear of any and all Liens except Permitted Liens. As of the Effective Date, Borrower has no deposit accounts or investment accounts other than the deposit accounts and investment
accounts disclosed on Schedule A, or of which Borrower has given Lender notice and taken such actions as are necessary to give Lender a perfected security interest therein. The Accounts are bona fide, existing obligations of the Account
Debtors. 
 As of the Effective Date, the Collateral is not in the possession of any third party bailee (such as a warehouse) except
as otherwise disclosed on Schedule A. None of the components of the Collateral shall be maintained at locations other than as provided in Schedule A or as permitted pursuant to Section 7.2. 

All Inventory is in all material respects of good and marketable quality, free from material defects. 

As of the Effective Date, Borrower is the sole owner of the Intellectual Property which it owns or purports to own except for
(a) non-exclusive licenses granted to its customers in the ordinary course of business, (b) over-the-counter software that is commercially available to the public, and (c) material Intellectual Property licensed to Borrower and noted
on Schedule A. Each Patent which it owns or purports to own and which is material to Borrower’s business is valid and enforceable, and no part of the Intellectual Property which Borrower owns or purports to own and which is material to
Borrower’s business has been judged invalid or unenforceable, in whole or in part. To the best of Borrower’s knowledge, no claim has been made that any part of the Intellectual Property violates the rights of any third party except to the
extent such claim would not reasonably be expected to have a material adverse effect on Borrower’s business. 
 As of the
Effective Date, Borrower is not a party to, nor is it bound by, any Restricted License. 
 5.3 Litigation. Except as otherwise
disclosed to Lender, there are no actions or proceedings pending or, to the knowledge of the Responsible Officers, threatened in writing by or against Borrower or any of its Subsidiaries involving more than, individually or in the aggregate, Two
Hundred Fifty Thousand Dollars ($250,000). 
 5.4 Financial Statements; Financial Condition. All consolidated financial statements
for Borrower and any of its Subsidiaries delivered to Lender fairly present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material
deterioration in Borrower’s consolidated financial condition since the date of the most recent financial statements submitted to Lender. 

5.5 Solvency. The fair salable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of
its liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is able to pay its debts (including trade debts) as they mature. 

5.6 Regulatory Compliance. Borrower is not an “investment company” or a company “controlled” by an “investment
company” under the Investment Company Act of 1940, as amended. Borrower is not engaged as one of its important activities in extending credit for margin stock (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower
has complied in all material respects with the Federal Fair Labor Standards Act. Neither Borrower nor any of its Subsidiaries is a “holding company” or an “affiliate” of a “holding company”

  
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or a “subsidiary company” of a “holding company” as each term is defined and used in the Public Utility Holding Company Act of 2005. Borrower has not violated any laws,
ordinances or rules, the violation of which could reasonably be expected to have a material adverse effect on its business. None of Borrower’s or any of its Subsidiaries’ properties or assets has been used by Borrower or any Subsidiary or,
to the best of Borrower’s knowledge, by previous Persons, in disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and each of its Subsidiaries have obtained all consents, approvals and
authorizations of, made all declarations or filings with, and given all notices to, all Government Authorities that are necessary to continue their respective businesses as currently conducted. 

5.7 Subsidiaries; Investments. Borrower does not own any stock, partnership interest or other equity securities except for Permitted
Investments. 
 5.8 Tax Returns and Payments; Pension Contributions. Borrower has timely filed all required tax returns and reports,
and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower, except, in each case, where the failure to file such returns or reports, or to pay such taxes, assessments, deposits
and contributions could not reasonably be expected to have a material adverse effect on Borrower’s business. Borrower may defer payment of any contested taxes, provided that Borrower (a) in good faith contests its obligation to pay the
taxes by appropriate proceedings promptly and diligently instituted and conducted, (b) notifies Lender in writing of the commencement of, and any material development in, the proceedings, (c) posts bonds or takes any other steps required
to prevent the governmental authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien”. Borrower is unaware of any claims or adjustments proposed for any of Borrower’s
prior tax years which could result in additional taxes becoming due and payable by Borrower. Borrower has paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and
Borrower has not withdrawn from participation in, and has not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any liability
of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency. 

5.9 Use of Proceeds. Borrower shall use the proceeds of the Term Loan solely as working capital and to fund its general business
requirements and not for personal, family, household or agricultural purposes. 
 5.10 Full Disclosure. No written representation,
warranty or other statement of Borrower in any certificate or written statement given to Lender, as of the date such representation, warranty, or other statement was made, taken together with all such written certificates and written statements
given to Lender, contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or statements not misleading (it being recognized by Lender that any projections and
forecasts provided by Borrower in good faith and based upon reasonable assumptions are not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from any projected or forecasted
results). 
 5.11 Definition of “Knowledge.” For purposes of the Loan Documents, whenever a representation or
warranty is made to Borrower’s knowledge or awareness, to the “best of” Borrower’s knowledge, or with a similar qualification, knowledge or awareness means the actual knowledge, after reasonable investigation, of the Responsible
Officers. 
 6 AFFIRMATIVE COVENANTS 

Borrower shall do all of the following: 

6.1 Government Compliance. 

(a) Maintain its and all its Subsidiaries’ legal existence and good standing in their respective jurisdictions of formation and maintain
qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on Borrower’s business or operations. Borrower shall comply, and have each Subsidiary comply, with all laws,
ordinances and regulations to which it is subject, noncompliance with which could have a material adverse effect on Borrower’s business. 

  
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 (b) Obtain all of the Governmental Approvals necessary for the performance by Borrower of its
obligations under the Loan Documents to which it is a party and the grant of a security interest to Lender in all of its property. Borrower shall promptly provide copies of any such obtained Governmental Approvals to Lender. 

6.2 Financial Statements, Reports, Certificates. Deliver to Lender: 

(a) Quarterly Financial Statements. As soon as available, but no later than forty-five (45) days after the last day of each fiscal
quarter, a company prepared consolidated balance sheet and income statement covering Borrower’s consolidated operations for such fiscal quarter certified by a Responsible Officer and in a form acceptable to Lender (the “Quarterly
Financial Statements”); 
 (b) Quarterly Compliance Certificate. Within forty-five (45) days after the last day of each
fiscal quarter and together with the Quarterly Financial Statements, a duly completed Compliance Certificate signed by a Responsible Officer, certifying that as of the end of such fiscal quarter, Borrower was in full compliance with all of the terms
and conditions of this Agreement, and setting forth calculations showing compliance with the financial covenants set forth in this Agreement and such other information as Lender shall reasonably request; 

(c) Annual Audited Financial Statements. As soon as available, but no later than one hundred eighty (180) days after the last day
of Borrower’s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified opinion (or qualified only for going concern so long as Borrower’s investors provide additional
equity as needed) on the financial statements from an independent certified public accounting firm acceptable to Lender in its reasonable discretion; 

(d) Event of Default. When any Event of Default has occurred and is continuing under this Agreement, Borrower shall deliver to Lender,
in accordance with Section 10, a certificate signed by a Responsible Officer specifying such event, notice or other action within ten (10) days of its occurrence. 

(e) Other Statements. Within ten (10) days of delivery, copies of all statements, reports and notices made available to
Borrower’s security holders or to any holders of Subordinated Debt; 
 (f) Legal Action Notice. A prompt report of any legal
actions pending or threatened in writing against Borrower or any of its Subsidiaries that could result in damages or costs to Borrower or any of its Subsidiaries of, individually or in the aggregate, Two Hundred Fifty Thousand Dollars ($250,000) or
more; 
 (g) Projections. As soon as available, but no later than the earlier of thirty (30) days after the last day of
Borrower’s fiscal year or the date on which the same are delivered to holders of Permitted Senior Indebtedness, a board approved annual operating plan. 

(h) Other Financial Information. Such other budgets, sales projections, operating plans and other financial information reasonably
requested by Lender. 
 6.3 Taxes; Pensions. Timely file, and require each of its Subsidiaries to timely file, all required material
tax returns and reports and timely pay, and require each of its Subsidiaries to timely pay, all material foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower and each of its Subsidiaries, except for
deferred payment of any taxes contested pursuant to the terms of Section 5.8 hereof, and shall deliver to Lender, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to fund all present pension, profit
sharing and deferred compensation plans in accordance with their terms. 
 6.4 Insurance. Keep its business and the Collateral
insured for risks and in amounts standard for companies in Borrower’s industry and location and as Lender may reasonably request. Insurance policies shall be in a form, with companies, and in amounts that are satisfactory to Lender. All
property policies shall have a lender’s loss payable endorsement showing Lender as lender loss payee and waive subrogation against Lender. All liability 

  
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policies shall show, or have endorsements showing, Lender as an additional insured. All policies (or the loss payable and additional insured endorsements) shall provide that the insurer shall
give Lender at least twenty (20) days’ notice before canceling, amending, or declining to renew its policy. At Lender’s request, Borrower shall deliver certified copies of policies and evidence of all premium payments. If Borrower
fails to obtain insurance as required under this Section 6.4 or to pay any amount or furnish any required proof of payment to third persons and Lender, Lender may make all or part of such payment or obtain such insurance policies required in
this Section 6.4, and take any action under the policies Lender deems prudent. During the continuance of an Event of Default, proceeds payable under any policy shall, at Lender’s option, be payable to Lender on account of the Obligations.
Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, Borrower shall have the option of applying the proceeds of any casualty policy toward the replacement or repair of destroyed or damaged property (or the
purchase of other property otherwise useful in the Borrower’s business); provided that any such replaced or repaired property shall be deemed Collateral in which Lender has been granted a first priority security interest (subject only to
Permitted Liens that may have superior priority to Lender’s Lien under this Agreement). 
 6.5 Operating Accounts. Provide
Lender five (5) days prior written notice before establishing any Collateral Account at or with any financial institution. For each Collateral Account that Borrower at any time maintains, Borrower shall, at the request of Lender, cause the
applicable financial institution at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Lender’s Lien in such
Collateral Account in accordance with the terms hereunder which Control Agreement may not be terminated without the prior written consent of Lender. The provisions of the previous sentence shall not apply to deposit accounts exclusively used for
payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Lender by Borrower as such (collectively, the “Excluded Accounts”). 

6.6 Financial Covenants. Maintain as of the last day of each fiscal quarter, on a consolidated basis with respect to Borrower:

 (a) Minimum Revenue. Borrower’s consolidated revenue as determined in accordance with GAAP of not less than 80% of the
board approved plan, measured quarterly on a year-to-date basis. 
 6.7 Protection of Intellectual Property Rights. 

(a) (i) Protect, defend and maintain the validity and enforceability of its Intellectual Property; (ii) promptly advise Lender in writing
of material infringements of its Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s business to be abandoned, forfeited or dedicated to the public without Lender’s written consent. 

(b) Provide written notice to Lender within thirty (30) days of entering or becoming bound by any Restricted License (other than
over-the-counter software that is commercially available to the public). Borrower shall use its commercially reasonable efforts to take such steps as Lender reasonably request to obtain the consent of, or waiver by, any person whose consent or
waiver is necessary for (i) any Restricted License to be deemed “Collateral” and for Lender to have a security interest in it that might otherwise be restricted or prohibited by law or by the terms of any such Restricted License,
whether now existing or entered into in the future, and (ii) Lender to have the ability in the event of a liquidation of any Collateral to dispose of such Collateral in accordance with Lender’s rights and remedies under this Agreement and
the other Loan Documents. 
 6.8 Litigation Cooperation. From the date hereof and continuing through the termination of this
Agreement, make available to Lender, without expense to Lender, Borrower and its officers, employees and agents and Borrower’s books and records, to the extent that Lender may deem them reasonably necessary to prosecute or defend any
third-party suit or proceeding instituted by or against Lender with respect to any Collateral or relating to Borrower. 
 6.9 Access to
Collateral; Books and Records. Allow Lender, or its agents, at reasonable times, on five (5) Business Days’ notice (provided no notice is required if an Event of Default has occurred and is continuing), to inspect the Collateral and
audit and copy Borrower’s Books. Such inspections or audits shall be conducted no more often than once every twelve (12) months unless an Event of Default has occurred and is continuing. 

  
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 6.10 Formation or Acquisition of Subsidiaries. At the time that Borrower forms any
direct or indirect Subsidiary, other than an Excluded Subsidiary, or acquires any direct or indirect Subsidiary, other than an Excluded Subsidiary, after the Effective Date, Borrower shall (a) cause such new Subsidiary to provide to Lender a
joinder to the Loan Agreement to cause such Subsidiary to become a co-borrower hereunder, together with such appropriate financing statements and/or Control Agreements, all in form and substance satisfactory to Lender (including being sufficient to
grant Lender a first priority Lien (subject to Permitted Liens) in and to the assets of such newly formed or acquired Subsidiary), (b) provide to Lender appropriate certificates and powers and financing statements, pledging all of the direct or
beneficial ownership interest in such new Subsidiary, in form and substance satisfactory to Lender, and (c) provide to Lender all other documentation in form and substance satisfactory to Lender which in its opinion is appropriate with respect
to the execution and delivery of the applicable documentation referred to above. Any document, agreement, or instrument executed or issued pursuant to this Section 6.10 shall be a Loan Document. 

6.11 Further Assurances. Execute any further instruments and take further action as Lender reasonably requests to perfect or continue
Lender’s Lien in the Collateral or to effect the purposes of this Agreement. Deliver to Lender, within five (5) days after the same are sent or received, copies of all correspondence, reports, documents and other filings with any
Governmental Authority regarding compliance with or maintenance of Governmental Approvals or Requirements of Law or that could reasonably be expected to have a material effect on any of the Governmental Approvals or otherwise on the operations of
Borrower or any of its Subsidiaries. 
 7 NEGATIVE COVENANTS 

Borrower shall not do any of the following without Lender’s prior written consent: 

7.1 Dispositions. Convey, sell, lease, transfer, assign, or otherwise dispose of (collectively, “Transfer”), or permit
any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of worn-out or obsolete Equipment;
(c) in connection with Permitted Liens and Permitted Investments; (d) of non-exclusive licenses for the use of the property of Borrower or its Subsidiaries in the ordinary course of business and licenses that could not result in a legal
transfer of title of the licensed property but that may be exclusive in respects other than territory and that may be exclusive as to territory only as to discreet geographical areas outside of the United States; and (e) other Transfers that do
not exceed $100,000 per fiscal year. 
 7.2 Changes in Business, Management, Control, or Business Locations. (a) Engage in or
permit any of its Subsidiaries to engage in any business other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably related thereto; (b) liquidate or dissolve; or (c) (i) have a change in
Key Person where the Company’s Board of Directors does not replace such Key Person within ninety (90) days of such change or (ii) consummate any transaction or series of related transactions in which the stockholders of Borrower who
were not stockholders immediately prior to the first such transaction own more than forty percent (40%) of the voting stock of Borrower immediately after giving effect to such transaction or related series of such transactions (other than by
the sale of Borrower’s equity securities in a public offering or to venture capital investors so long as Borrower identifies to Lender the venture capital investors prior to the closing of the transaction and provides to Lender a description of
the material terms of the transaction). 
 Borrower shall not, without at least ten (10) Business Days prior written notice to
Lender: (1) change its jurisdiction of organization, (2) change its organizational structure or type, (3) change its legal name, or (4) change any organizational number (if any) assigned by its jurisdiction of organization. 

7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or
acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except that a Subsidiary may merge or consolidate into another Subsidiary or into Borrower. 

7.4 Indebtedness. Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted
Indebtedness. 

  
 8 

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 7.5 Encumbrance. Create, incur, allow, or suffer any Lien on any of its property or
assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, permit any Collateral not to be subject to the first priority (subject only to
(i) Section 6.5 and (ii) Permitted Liens that may have superior priority to Lender’s Lien under this Agreement) security interest granted herein, or enter into any agreement, document, instrument or other arrangement (except with
or in favor of Lender) with any Person which directly or indirectly prohibits or has the effect of prohibiting Borrower or any Subsidiary from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of
Borrower’s or any Subsidiary’s Intellectual Property in favor of Lender, except with respect to transactions otherwise permitted in Section 7.1 hereof and clauses (c) and (j) of the definition of “Permitted Liens”
herein. 
 7.6 Maintenance of Collateral Accounts. Maintain any Collateral Account except pursuant to the terms of Section 6.5
hereof. 
 7.7 Distributions; Investments. (a) Pay any dividends or make any distribution or payment or redeem, retire or
purchase any capital stock provided that (i) Borrower may convert any of its outstanding convertible securities into other equity securities pursuant to the terms of such convertible securities or otherwise in exchange thereof,
(ii) Borrower may pay dividends solely in shares of common stock; (iii) Borrower may repurchase the stock of former employees, directors or consultants pursuant to stock repurchase agreements so long as an Event of Default does not exist
at the time of such repurchase and would not exist after giving effect to such repurchase, provided such repurchase does not exceed in the aggregate of Two Hundred Fifty Thousand Dollars ($250,000) per fiscal year; and (iv) subject to the
notice and mandatory payment provisions of Section 2.5 hereof, Borrower may repurchase capital stock pursuant to the terms of its Charter; or (b) directly or indirectly make any Investment other than Permitted Investments, or permit any of
its Subsidiaries to do so. 
 7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any
material transaction with any Affiliate of Borrower, except for transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s
length transaction with a non-affiliated Person. 
 7.9 Subordinated Debt. (a) Make or permit any payment on any Subordinated
Debt, except under the terms of the subordination, intercreditor, or other similar agreement with the Lender to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would
increase the amount thereof or adversely affect the subordination thereof to Obligations owed to Lender. 
 7.10 Compliance. Become
an “investment company” or a company controlled by an “investment company”, under the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase or carry margin stock
(as defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of the Term Loan for that purpose; fail to meet the minimum funding requirements of ERISA, permit a Reportable Event or Prohibited Transaction,
as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if the violation could reasonably be expected to have a material adverse effect on Borrower’s business, or permit
any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial or complete termination of, or permit the occurrence of any other event with respect to, any present pension, profit sharing and
deferred compensation plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency. 

8 EVENTS OF DEFAULT 

Any one of the following shall constitute an event of default (an “Event of Default”) under this Agreement:

 8.1 Payment Default. Borrower fails to (a) make any payment of principal or interest on the Term Loan on its due date, or
(b) pay any other Obligations under this Agreement within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day cure period shall not apply to payments due on the Term Loan Maturity Date).
During the three (3) Business Day cure period, the failure to make or pay any payment specified under clause (a) or (b) hereunder is not an Event of Default; 

  
 9 

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 8.2 Covenant Default. 

(a) Borrower fails or neglects to perform any obligation in Sections 6.2, 6.3, 6.4, 6.5, or violates any covenant in Section 7; or 

(b) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this
Agreement or any of the other Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within ten
(10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten (10) day period, and
such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure
to cure the default shall not be deemed an Event of Default. Cure periods provided under this section shall not apply, among other things, to financial covenants or any other covenants set forth in clause (a) above; 

8.3 Attachment; Levy; Restraint on Business. 

(a) (i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or of any entity under the control of
Borrower (including a Subsidiary) on deposit with a financial institution, or (ii) a notice of lien or levy is filed against any of Borrower’s assets by any government agency, and the same under subclauses (i) and (ii) hereof are
not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); or 

(b) (i) any material portion of Borrower’s assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or
(ii) any court order enjoins, restrains, or prevents Borrower from conducting any material part of its business; 
 8.4 Material
Adverse Change. A Material Adverse Change occurs. 
 8.5 Insolvency (a) Borrower is unable to pay its debts (including trade
debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days; 

8.6 Other Agreements. There is, under any agreement to which Borrower or any Guarantor is a party with a third party or parties,
(a) any default resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount individually or in the aggregate in excess of Three Hundred Fifty Thousand Dollars
($350,000), including the Permitted Senior Indebtedness (other than any default with respect to a financial covenant or ratio unless such default results in an acceleration of the applicable Indebtedness); or (b) any default by Borrower or
Guarantor, the result of which could have a material adverse effect on Borrower’s or any Guarantor’s business (other than any default with respect to a financial covenant or ratio unless such default results in an acceleration of the
applicable Indebtedness). 
 8.7 Judgments. One or more final judgments, orders, or decrees for the payment of money in an
amount, individually or in the aggregate, of at least Three Hundred Fifty Thousand Dollars ($350,000) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be rendered against
Borrower and the same are not, within ten (10) days after the entry thereof, discharged or execution thereof stayed or bonded pending appeal, or such judgments are not discharged prior to the expiration of any such stay; 

8.8 Misrepresentations. Borrower or any Person acting for Borrower makes any representation, warranty, or other statement now or later
in this Agreement, any Loan Document or in any writing delivered to Lender or to induce Lender to enter this Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made; 

  
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 8.9 Subordinated Debt. Any document, instrument, or agreement evidencing any
Subordinated Debt shall for any reason be revoked or invalidated or otherwise cease to be in full force and effect, any Person shall be in breach thereof or contest in any manner the validity or enforceability thereof or deny that it has any further
liability or obligation thereunder, or the Obligations shall for any reason be subordinated or shall not have the priority contemplated by this Agreement; or 

8.10 Governmental Approvals. Any Governmental Approval shall have been (a) revoked, rescinded, suspended, modified in an adverse
manner or not renewed in the ordinary course for a full term or (b) subject to any decision by a Governmental Authority that designates a hearing with respect to any applications for renewal of any of such Governmental Approval or that could
result in the Governmental Authority taking any of the actions described in clause (a) above, and in the case of clause (a) or clause (b) such decision or such revocation, rescission, suspension, modification or non-renewal
(i) has, or could reasonably be expected to have, a Material Adverse Change, or (ii) adversely affects the legal qualifications of Borrower or any of its Subsidiaries to hold such Governmental Approval in any applicable jurisdiction and
such revocation, rescission, suspension, modification or non-renewal could reasonably be expected to affect the status of or legal qualifications of Borrower or any of its Subsidiaries to hold any Governmental Approval in any other jurisdiction and
such revocation, rescission, suspension, modification or non-renewal could reasonably be expected to result in a Material Adverse Change. 

9 LENDER’S RIGHTS AND REMEDIES 

9.1 Rights and Remedies. Subject to the terms of any applicable subordination or intercreditor agreement, while an Event of Default
occurs and continues Lender may, without notice or demand, do any or all of the following: 
 (a) declare all Obligations immediately due and
payable (but if an Event of Default described in Section 8.5 occurs all Obligations are immediately due and payable without any action by Lender); 

(b) settle or adjust disputes and claims directly with Account Debtors for amounts on terms and in any order that Lender considers advisable,
notify any Person owing Borrower money of Lender’s security interest in such funds, and verify the amount of such account; 
 (c) make
any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in the Collateral. Borrower shall assemble the Collateral if Lender requests and make it available as Lender designates. Lender
may enter premises where the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses
incurred. Borrower grants Lender a license to enter and occupy any of its premises, without charge, to exercise any of Lender’s rights or remedies; 

(d) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral. Lender is hereby
granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, Patents, Copyrights, mask works, rights of use of any name, trade secrets, trade names, Trademarks, and advertising matter, or any similar
property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Lender’s exercise of its rights under this Section, Borrower’s rights under all licenses and
all franchise agreements inure to Lender’s benefit; 
 (e) deliver a notice of exclusive control, any entitlement order, or other
directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 
 (f) demand and
receive possession of Borrower’s Books; and 
 (g) exercise all rights and remedies available to Lender under the Loan Documents or at
law or equity, including all remedies provided under the Code (including disposal of the Collateral pursuant to the terms thereof). 

  
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 9.2 Power of Attorney. Borrower hereby irrevocably appoints Lender as its lawful
attorney-in-fact, exercisable upon the occurrence and during the continuance of an Event of Default, to: (a) endorse Borrower’s name on any checks or other forms of payment or security; (b) sign Borrower’s name on any invoice or
bill of lading for any Account or drafts against Account Debtors; (c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Lender determines reasonable; (d) make, settle, and
adjust all claims under Borrower’s insurance policies; (e) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to
terminate or discharge the same; and (f) transfer the Collateral into the name of Lender or a third party as the Code permits. Borrower hereby appoints Lender as its lawful attorney-in-fact to sign Borrower’s name on any documents
necessary to perfect or continue the perfection of Lender’s security interest in the Collateral regardless of whether an Event of Default has occurred until all Obligations (other than inchoate indemnity obligations) have been satisfied in
full. Lender’s foregoing appointment as Borrower’s attorney in fact, and all of Lender’s rights and powers, coupled with an interest, are irrevocable until all Obligations (other than inchoate indemnity obligations) have been fully
repaid and performed. 
 9.3 Protective Payments. If Borrower fails to obtain the insurance called for by Section 6.4 or fails
to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document, Lender may obtain such insurance or make such payment, and all amounts so paid by Lender are Lender
Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral. Lender will make reasonable efforts to provide Borrower with notice of Lender obtaining such insurance
at the time it is obtained or within a reasonable time thereafter. No payments by Lender are deemed an agreement to make similar payments in the future or Lender’s waiver of any Event of Default. 

9.4 Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender may apply any
funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender shall determine
in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender for any deficiency. If Lender, in its good faith business judgment, directly or indirectly enters into a
deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the
reduction of the Obligations until the actual receipt by Lender of cash therefor. 
 9.5 Lender’s Liability for Collateral. So
long as Lender complies with reasonable practices and the Code regarding the safekeeping of the Collateral in the possession or under the control of Lender, Lender shall not be liable or responsible for: (a) the safekeeping of the Collateral;
(b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of
the Collateral. 
 9.6 No Waiver; Remedies Cumulative. Lender’s failure, at any time or times, to require strict performance by
Borrower of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Lender thereafter to demand strict performance and compliance herewith or therewith. No waiver hereunder shall be effective
unless signed by the party granting the waiver and then is only effective for the specific instance and purpose for which it is given. Lender’s rights and remedies under this Agreement and the other Loan Documents are cumulative. Lender has all
rights and remedies provided under the Code, by law, or in equity. Lender’s exercise of one right or remedy is not an election and shall not preclude Lender from exercising any other remedy under this Agreement or other remedy available at law
or in equity, and Lender’s waiver of any Event of Default is not a continuing waiver. Lender’s delay in exercising any remedy is not a waiver, election, or acquiescence. 

9.7 Demand Waiver. Borrower waives demand, notice of default or dishonor, notice of payment and nonpayment, notice of any default,
nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Lender on which Borrower is liable. 

  
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 10 NOTICES 

All notices, consents, requests, approvals, demands, or other communication by any party to this Agreement or any other Loan Document must be
in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt
requested, with proper postage prepaid; (b) upon transmission, when sent by electronic mail or facsimile transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or
(d) when delivered, if hand-delivered by messenger, all of which shall be addressed to the party to be notified and sent to the address, facsimile number, or email address indicated below. Lender or Borrower may change its mailing or electronic
mail address or facsimile number by giving the other party written notice thereof in accordance with the terms of this Section 10. 
  

			
	 If to Borrower:
	 	IMPINJ, INC.
		 	701 N. 34th Street, Suite 300
		 	Seattle, WA 98103
		 	Attn: Evan Fein, CFO
		 	Fax: 
		 	Email: 
		
	 If to Lender:
	 	SG ENTERPRISES II, LLC
		 	155 108th Avenue, NE, Suite 400
		 	Bellevue, Washington 98004
		 	Attn: John Stanton and Theresa Gillespie
		 	Fax: 
		 	Email: 

 11 CHOICE OF LAW, VENUE, JURY TRIAL WAIVER, AND JUDICIAL REFERENCE 

Washington law governs the Loan Documents without regard to principles of conflicts of law. Borrower and Lender each submit to the exclusive
jurisdiction of the State and Federal courts in King County, Washington; provided, however, that nothing in this Agreement shall be deemed to operate to preclude Lender from bringing suit or taking other legal action in any other jurisdiction to
realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Lender. Borrower expressly submits and consents in advance to such jurisdiction in any action or suit commenced in any
such court, and Borrower hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is deemed appropriate by
such court. Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by registered or certified mail
addressed to Borrower at the address set forth in, or subsequently provided by Borrower in accordance with, Section 10 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of Borrower’s actual
receipt thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid. 
 TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, BORROWER AND LENDER EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND
ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 

ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE
UNDER WASHINGTON LAW. 

  
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 12 GENERAL PROVISIONS 

12.1 Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party.
Borrower may not assign this Agreement or any rights or obligations under it without Lender’s prior written consent (which may be granted or withheld in Lender’s discretion). Lender may not assign this Agreement or any of its rights or
obligations under it without Borrower’s prior written consent (which shall not be unreasonably withheld or delayed); provided that Borrower’s prior written consent shall not be required for any assignment to (i) any of Lender’s
Affiliates or for estate planning purposes, and (ii) any third party if, at the time of such assignment, Peter van Oppen is no longer Chairman of Borrower’s board of directors. 

12.2 Indemnification. Borrower agrees to indemnify, defend and hold Lender and its agents, attorneys, or any other Person affiliated
with or representing Lender (each, an “Indemnified Person”) harmless against: (a) all obligations, demands, claims, and liabilities (collectively, “Claims”) claimed or asserted by any other party in connection
with the transactions contemplated by the Loan Documents; and (b) all losses or expenses (including Lender Expenses) in any way suffered, incurred, or paid by such Indemnified Person as a result of, following from, consequential to, or arising
from transactions between Lender and Borrower (including reasonable attorneys’ fees and expenses), except for Claims and/or losses directly caused by such Indemnified Person’s gross negligence or willful misconduct. 

12.3 Time of Essence. Time is of the essence for the performance of all Obligations in this Agreement. 

12.4 Severability of Provisions. Each provision of this Agreement is severable from every other provision in determining the
enforceability of any provision. 
 12.5 Amendments in Writing; Waiver; Integration. No purported amendment or modification of any
Loan Document, or waiver, discharge or termination of any obligation under any Loan Document, shall be enforceable or admissible unless, and only to the extent, expressly set forth in a writing signed by the party against which enforcement or
admission is sought. Without limiting the generality of the foregoing, no oral promise or statement, nor any action, inaction, delay, failure to require performance or course of conduct shall operate as, or evidence, an amendment, supplement or
waiver or have any other effect on any Loan Document. Any waiver granted shall be limited to the specific circumstance expressly described in it, and shall not apply to any subsequent or other circumstance, whether similar or dissimilar, or give
rise to, or evidence, any obligation or commitment to grant any further waiver. The Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings,
representations, warranties, and negotiations between the parties about the subject matter of the Loan Documents merge into the Loan Documents. 

12.6 Reserved. 
 12.7
Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. 

12.8 Survival. All covenants, representations and warranties made in this Agreement continue in full force until this Agreement has
terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) have been paid in full and satisfied. The obligation
of Borrower in Section 12.2 to indemnify Lender shall survive until the statute of limitations with respect to such claim or cause of action shall have run. 

12.9 Confidentiality. In handling any confidential information, Lender shall exercise the same degree of care that it exercises for its
own proprietary information, but disclosure of information may be made: (a) to Lender’s Subsidiaries or Affiliates (such Subsidiaries and Affiliates, together with Lender, collectively, “Lender Entities”); (b) to prospective
transferees or purchasers of any interest in the Term Loans (provided, however, Lender shall use its best efforts to obtain any prospective transferee’s or purchaser’s agreement to the terms of this provision); (c) as required by law,
regulation, subpoena, or other order; (d) as otherwise required in connection with 

  
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 EXECUTION VERSION 

 

 
Lender’s audit; (e) as Lender considers appropriate in exercising remedies under the Loan Documents; and (f) to third-party service providers of Lender so long as such service
providers have executed a confidentiality agreement with Lender with terms no less restrictive than those contained herein or are otherwise under a duty of confidentiality to Borrower or Lender. Confidential information does not include information
that is either: (i) in the public domain or in Lender’s possession when disclosed to Lender, or becomes part of the public domain after disclosure to Lender; or (ii) disclosed to Lender by a third party if Lender does not know that
the third party is prohibited from disclosing the information. 
 12.10 Attorneys’ Fees, Costs and Expenses. In any action or
proceeding between Borrower and Lender arising out of or relating to the Loan Documents, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in addition to any other relief to
which it may be entitled. 
 12.11 Electronic Execution of Documents. The words “execution,” “signed,”
“signature” and words of like import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity and enforceability as a
manually executed signature or the use of a paper-based recordkeeping systems, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions
Act. 
 12.12 Captions. The headings used in this Agreement are for convenience only and shall not affect the interpretation of this
Agreement. 
 12.13 Construction of Agreement. The parties mutually acknowledge that they and their attorneys have participated in
the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist. 

12.14 Relationship. The relationship of the parties to this Agreement is determined solely by the provisions of this Agreement. The
parties do not intend to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties or incidents different from those of parties to an arm’s-length contract. 

12.15 Third Parties. Nothing in this Agreement, whether express or implied, is intended to: (a) confer any benefits, rights or
remedies under or by reason of this Agreement on any persons other than the express parties to it and their respective permitted successors and assigns; (b) relieve or discharge the obligation or liability of any person not an express party to
this Agreement; or (c) give any person not an express party to this Agreement any right of subrogation or action against any party to this Agreement 

12.16 Subordination. The Obligations evidenced by this Agreement are hereby expressly subordinated to the obligations of Borrower under
the SVB Loan Agreement pursuant to the terms set forth in that that certain Subordination Agreement, dated as of the date hereof (the “SVB Subordination Agreement”) by and among, Lender, Silicon Valley Bank and Borrower. Lender
hereby agrees to execute and deliver subordination agreements or intercreditor agreements requested from time to time by holders of Permitted Senior Indebtedness (whether in favor of Silicon Valley Bank or whether in favor of other Persons holding
Permitted Senior Indebtedness), provided that such subordination or intercreditor agreements shall be on terms that are consistent with the terms contained in the SVB Subordination Agreement and are in a form that is reasonably acceptable to Lender.
Notwithstanding anything contained in this Agreement, the rights of Lender under this Agreement shall be subject to the terms of the SVB Subordination Agreement or any other subordination or intercreditor agreement entered into by Lender in favor of
holders of Permitted Senior Indebtedness. 

  
 15 

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 13 DEFINITIONS 

13.1 Definitions. As used in the Loan Documents, the word “shall” is mandatory, the word “may” is permissive, the
word “or” is not exclusive, the words “includes” and “including” are not limiting, the singular includes the plural, and numbers denoting amounts that are set off in brackets are negative. As used in this Agreement, the
following capitalized terms have the following meanings: 
 “Account” is any “account” as defined
in the Code with such additions to such term as may hereafter be made, and includes, without limitation, all accounts receivable and other sums owing to Borrower. 

“Account Debtor” is any “account debtor” as defined in the Code with such additions to such term as
may hereafter be made. 
 “Affiliate” is, with respect to any Person, each other Person that owns or controls
directly or indirectly the Person, any Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability
company, that Person’s managers and members. 
 “Agreement” is defined in the preamble hereof. 

“Lender” is defined in the preamble hereof. 

“Lender Expenses” are all audit fees and expenses, costs, and expenses (including reasonable attorneys’
fees and expenses) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred with
respect to Borrower. 
 “Borrower” is defined in the preamble hereof. 

“Borrower’s Books” are all Borrower’s books and records including ledgers, federal and state tax
returns, records regarding Borrower’s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. 

“Borrowing Resolutions” are, with respect to any Person, those resolutions substantially in the form attached
hereto as Exhibit C. 
 “Business Day” is any day that is not a Saturday, Sunday or a day on
which commercial banks are closed in the State of Washington. 
 “Cash Equivalents” means (a) marketable
direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one
(1) year after its creation and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc.; (c) certificates of deposit maturing no more than one (1) year after issue;
and (d) money market funds at least ninety-five percent (95%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition. 

“Charter” is defined in Section 2.5. 

“Code” is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the
State of Washington; provided, that, to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code, the definition of such term contained in
Article or Division 9 shall govern; provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to, Lender’s Lien on any Collateral is
governed by the Uniform Commercial Code in effect in a jurisdiction other than the State of Washington, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes
of the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions. 

“Collateral” is any and all properties, rights and assets of Borrower described on Exhibit A. 

“Collateral Account” is any Deposit Account, Securities Account, or Commodity Account. 

  
 16 

 EXECUTION VERSION 

 

 “Commodity Account” is any “commodity account” as defined in the
Code with such additions to such term as may hereafter be made. 
 “Compliance Certificate” is that certain
certificate in the form attached hereto as Exhibit B. 
 “Contingent Obligation” is, for any Person,
any direct or indirect liability, contingent or not, of that Person for (a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation, in each case, directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse by that Person, or for which that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and
(c) all obligations from any interest rate, currency or commodity swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange
rates or commodity prices; but “Contingent Obligation” does not include endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the
Contingent Obligation is made or, if not determinable, the maximum reasonably anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support
arrangement. 
 “Control Agreement” is any control agreement entered into among the depository institution at
which Borrower maintains a Deposit Account or the securities intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Lender pursuant to which Lender obtains control (within the
meaning of the Code) over such Deposit Account, Securities Account, or Commodity Account. 
 “Copyrights” are
any and all copyright rights, copyright applications, copyright registrations and like protections in each work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret.

 “Default Rate” is defined in Section 2.2(b). 

“Deposit Account” is any “deposit account” as defined in the Code with such additions to such term as may hereafter
be made. 
 “Dollars,” “dollars” or use of the sign “$” means only lawful money of
the United States and not any other currency, regardless of whether that currency uses the “$” sign to denote its currency or may be readily converted into lawful money of the United States. 

“Effective Date” is defined in the preamble hereof. 

“Equipment” is all “equipment” as defined in the Code with such additions to such term as may hereafter be made,
and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 

“ERISA” is the Employee Retirement Income Security Act of 1974, and its regulations. 

“Event of Default” is defined in Section 8. 

“Excluded Accounts” is defined in Section 6.5. 

“Excluded Subsidiary” is any payroll Subsidiary funded solely to fulfill payroll obligations. 

“GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant segment of
the accounting profession, which are applicable to the circumstances as of the date of determination. 

  
 17 

 EXECUTION VERSION 

 

 “General Intangibles” is all “general intangibles” as defined in
the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all Intellectual Property, claims, income and other tax refunds, security and other deposits, payment intangibles,
contract rights, options to purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation key man, property damage, and
business interruption insurance), payments of insurance and rights to payment of any kind. 
 “Governmental
Approval” is any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental
Authority. 
 “Governmental Authority” is any nation or government, any state or other political subdivision
thereof, any agency, authority, instrumentality, regulatory body, court, central Lender or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities
exchange and any self-regulatory organization. 
 “Indebtedness” is (a) indebtedness for borrowed money
or the deferred price of property or services, such as reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations,
and (d) Contingent Obligations with respect to Indebtedness described in clauses (a) through (c) of this definition. 

“Indemnified Person” is defined in Section 12.2. 

“Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or
any other Bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 

“Intellectual Property” means all of Borrower’s right, title, and interest in and to the following: 

(a) its Copyrights, Trademarks and Patents; 

(b) any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions, know-how, operating
manuals; 
 (c) any and all source, object or programming code and software; 

(d) any and all design rights which may be available to a Borrower; 

(e) any and all published and unpublished works of authorship (including, without limitation, databases and compilations of information); 

(f) any and all internet domain names (including any right related to the registration thereof), trade names, brand names, d/b/a’s,
logos, symbols, and trade dress; 
 (g) any and all claims for damages by way of past, present and future infringement of any of the
foregoing, with the right, but not the obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and 

(h) all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents. 

“Inventory” is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term
as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of
Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 

  
 18 

 EXECUTION VERSION 

 

 “Investment” is any beneficial ownership interest in any
Person (including stock, partnership interest or other securities), and any loan, advance or capital contribution to any Person. 

“Key Person” means each of (i) Even Fein, CFO and (ii) Chris Diorio, CEO. 

“Lien” is a claim, mortgage, deed of trust, levy, charge, pledge, security interest or other encumbrance of any
kind, whether voluntarily incurred or arising by operation of law or otherwise against any property. 
 “Loan
Documents” are, collectively, this Agreement, the Note, any guaranties executed by Borrower or any Guarantor, and any other present or future agreement between Borrower any Guarantor and/or for the benefit of Lender in connection
with this Agreement, all as amended, restated, or otherwise modified. 
 “Material Adverse Change” is
(a) a material impairment in the perfection or priority of Lender’s Lien in the Collateral or in the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of
Borrower; or (c) a material impairment of the prospect of repayment of any portion of the Obligations. 

“Note” means that certain promissory note substantially in the form attached hereto as Exhibit D. 

“Obligations” are Borrower’s obligations to pay when due any debts, principal, interest, Lender Expenses
and other amounts Borrower owes Lender now or later under this Agreement or other the Loan Documents, including, without limitation, interest accruing after Insolvency Proceedings begin. 

“Operating Documents” are, for any Person, such Person’s formation documents, as certified with the
Secretary of State of such Person’s state of formation, and, (a) if such Person is a corporation, its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar
agreement), and (c) if such Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing with all current amendments or modifications thereto. 

“Patents” means all patents, patent applications and like protections including without limitation
improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 
 “Permitted
Indebtedness” is: 
 (a) Borrower’s Indebtedness to Lender under this Agreement and the other Loan Documents; 

(b) other Indebtedness existing on the Effective Date and shown on Schedule A; 

(c) Subordinated Debt; 
 (d)
unsecured Indebtedness to trade creditors incurred in the ordinary course of business; 
 (e) Indebtedness incurred as a result of endorsing
negotiable instruments received in the ordinary course of business; 
 (f) Indebtedness secured by Liens permitted under clauses (a),
(c) and (j) of the definition of “Permitted Liens” hereunder; 
 (g) Permitted Senior Indebtedness; 

(h) other Indebtedness in an aggregate principal amount not to exceed Fifty Thousand Dollars ($50,000) at any time; and 

  
 19 

 EXECUTION VERSION 

 

 (i) extensions, refinancings, modifications, amendments and restatements of any items of
Permitted Indebtedness (a) through (h) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be. 

“Permitted Investments” are: 

(a) Investments (including, without limitation, Subsidiaries) existing on the Effective Date and shown on Schedule A and; 

(b) (i) Investments consisting of Cash Equivalents, and (ii) any Investments permitted by Borrower’s board approved cash management
investment policy, as amended from time to time; 
 (c) Investments consisting of the endorsement of negotiable instruments for deposit or
collection or similar transactions in the ordinary course of Borrower; 
 (d) Investments consisting of deposit accounts in which Lender has
a perfected security interest to the extent required by Section 6.5 and Investments consisting of the Excluded Accounts; 
 (e)
Investments accepted in connection with Transfers permitted by Section 7.1; 
 (f) Investments consisting of (i) travel advances
and employee relocation loans and other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to
employee stock purchase plans or agreements approved by Borrower’s Board of Directors; 
 (g) Investments (including debt obligations)
received in connection with the Bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 

(h) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not
Affiliates, in the ordinary course of business; provided that this paragraph (h) shall not apply to Investments of Borrower in any Subsidiary; 

(i) Investments in an amount not to exceed Fifty Thousand Dollars ($50,000) in any calendar year. 

“Permitted Liens” are: 

(a) Liens existing on the Effective Date and shown on Schedule A or arising under this Agreement or the other Loan Documents; 

(b) Liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or (ii) being contested
in good faith and for which Borrower maintains adequate reserves on its Books, provided that no notice of any such Lien has been filed or recorded under the Internal Revenue Code of 1986, as amended, and the Treasury Regulations adopted
thereunder; 
 (c) purchase money Liens and Liens securing capital lease obligations (i) on Equipment acquired or held by Borrower
incurred for financing the acquisition of the Equipment securing no more than Four Million Five Hundred Thousand Dollars ($4,500,000) in the aggregate amount outstanding, or (ii) existing on Equipment when acquired, if the Lien is
confined to the property and improvements and the proceeds of the Equipment; 
 (d) Liens of carriers, warehousemen, suppliers, or other
Persons that are possessory in nature arising in the ordinary course of business so long as such Liens attach only to Inventory, securing liabilities in the 

  
 20 

 EXECUTION VERSION 

 

 
aggregate amount not to exceed Fifty Thousand Dollars ($50,000) and which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate
proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto; 
 (e) Liens to secure
payment of workers’ compensation, employment insurance, old-age pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 

(f) Liens incurred in the extension, renewal or refinancing of the Indebtedness secured by Liens described in (a) through (c), but
any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the Indebtedness may not increase; 

(g) leases or subleases of real property granted in the ordinary course of Borrower’s business (or, if referring to another Person, in
the ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or sublicenses of personal property (other than Intellectual Property) granted in the ordinary course of Borrower’s business (or, if referring to
another Person, in the ordinary course of such Person’s business), if the leases, subleases, licenses and sublicenses do not prohibit granting Lender a security interest therein; 

(h) non-exclusive license of Intellectual Property granted to third parties in the ordinary course of business, and licenses of Intellectual
Property that could not result in a legal transfer of title of the licensed property that may be exclusive in respects other than territory and that may be exclusive as to territory only as to discreet geographical areas outside of the United
States; 
 (i) Liens arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default under
Sections 8.3 and 8.7; 
 (j) Liens securing Subordinated Debt; 

(k) Liens securing Permitted Senior Indebtedness and Liens securing obligations other than the Permitted Senior Indebtedness up to a maximum
of Four Million Five Hundred Thousand Dollars ($4,500,000) owing by Borrower to Silicon Valley Bank and granted pursuant to the SVB Loan Agreement.; and 

(l) Liens in favor of other financial institutions arising in connection with (i) the Excluded Accounts and (ii) Borrower’s
other deposit and/or securities accounts held at such institutions, provided that in the case of accounts described in clause (ii) above, Lender has a perfected security interest in the amounts held in such deposit and/or securities accounts to
the extent required by Section 6.5. 
 “Permitted Senior Indebtedness” means Indebtedness in an
aggregate principal amount not to exceed Twenty-Five Million Five Hundred Thousand Dollars ($25,500,000), as may be amended, extended, renewed or replaced from time to time, which amount shall include the amount of any Indebtedness outstanding at
any time after the Effective Date under the SVB Loan Agreement, as amended, or any extension or refinancing thereof. 

“Quarterly Financial Statements” is defined in Section 6.2(a). 

“Person” is any individual, sole proprietorship, partnership, limited liability company, joint venture,
company, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 

“Registered Organization” is any “registered organization” as defined in the Code with such additions
to such term as may hereafter be made. 
 “Requirement of Law” is as to any Person, the organizational or governing
documents of such Person, and any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to
which such Person or any of its property is subject. 

  
 21 

 EXECUTION VERSION 

 

 “Responsible Officer” is any of the Chief Executive Officer,
President, Chief Financial Officer, Senior Vice President of Finance and Controller of Borrower. 
 “Restricted
License” is any material license or other agreement with respect to which Borrower is the licensee (a) that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license
or agreement or any other property, or (b) for which a default under or termination of could interfere with the Lender’s right to sell any Collateral. 

“SEC” shall mean the Securities and Exchange Commission, any successor thereto, and any analogous Governmental
Authority. 
 “Securities Account” is any “securities account” as defined in the Code with such additions to such
term as may hereafter be made. 
 “Senior Lender” means any lender providing Permitted Senior Indebtedness.

 “Subordinated Debt” is Indebtedness incurred by Borrower expressly subordinated to Borrower’s
Obligations (pursuant to a subordination, intercreditor, or other similar agreement entered into between Lender and the other creditor in form and substance satisfactory to Lender). 

“Subsidiary” is, as to any Person, a corporation, partnership, limited liability company or other entity of
which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or
other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless the context
otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower. 
 “SVB Loan
Agreement” means that certain Second Amended and Restated Loan and Security Agreement, dated as of March 26, 2014, by and between Borrower and Silicon Valley Bank, as may be amended, restated, extended, renewed or replaced from
time to time. 
 “SVB Subordination Agreement” is defined in Section 12.16. 

“Term Loan Maturity Date” is October 1, 2020. 

“Term Loan” is defined in Section 2.1.1. 

“Trademarks” means any trademark and servicemark rights, whether registered or not, applications to register
and registrations of the same and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 

“Transfer” is defined in Section 7.1. 

[Signature page follows.] 

  
 22 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
Effective Date. 
 BORROWER: 
 IMPINJ, INC. 

 

			
	By:	 	 /s/ Evan Fein

			
	Name:	 	 Evan Fein

			
	Title:	 	 CFO

 LENDER: 
 SG
ENTERPRISES II, LLC 
  

			
	By:	 	 /s/ John Stanton

			
	Name:	 	 John Stanton

			
	Title:	 	 Member/Manager

 [Signature Page to Loan and Security Agreement] 

 EXHIBIT A 

COLLATERAL DESCRIPTION 
 The Collateral
consists of all of Borrower’s right, title and interest in and to the following personal property: 
 All goods, Accounts (including
health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, General Intangibles (except as provided below), commercial tort claims, documents, instruments
(including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by a writing), securities, and all other investment
property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and 
 all
Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and
insurance proceeds of any or all of the foregoing. 
 Notwithstanding the foregoing, the Collateral does not include (i) any
Intellectual Property; provided, however, the Collateral shall include all Accounts and all proceeds of Intellectual Property, or (ii) more than 65% of the issued and outstanding voting capital stock of any Subsidiary that is organized in a
jurisdiction other than the United States or any state or territory thereof. If a judicial authority (including a U.S. Bankruptcy Court) would hold that a security interest in the underlying Intellectual Property is necessary to have a security
interest in any Accounts or other property that are proceeds of Intellectual Property, then the Collateral shall automatically, and effective as of the Effective Date, include the Intellectual Property to the extent necessary to permit perfection of
Lenders’ security interest in such Accounts and such other property of Borrower that are proceeds of the Intellectual Property. If at any time, Borrower shall create, allow, incur or suffer any Liens on any of its Intellectual Property in favor
of any party other than the Lenders (other than as contemplated under item (h) of the definition of Permitted Liens), then the Collateral shall automatically, and effective as of the Effective Date, include the Intellectual Property subject to
such Liens. 

 EXHIBIT B 

COMPLIANCE CERTIFICATE 
  

			
	TO:       SG ENTERPRISES II, LLC	  	Date:                              
	FROM: IMPINJ, INC.	  	

 The undersigned authorized officer of Impinj, Inc. (“Borrower”) certifies that under the
terms and conditions of the Loan and Security Agreement between Borrower and Lender (the “Agreement”): 
 (1) Borrower
is in complete compliance for the period ending                 with all required covenants except as noted below; (2) there are no Events of Default; (3) all
representations and warranties in the Agreement are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that
already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such
date; (4) Borrower, and each of its Subsidiaries, has timely filed all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except
as otherwise permitted pursuant to the terms of Section 5.8 of the Agreement; and (5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits of which Borrower
has not previously provided written notification to Lender. 
 Attached are the required documents supporting the certification. The
undersigned certifies that these are prepared in accordance with GAAP consistently applied from one period to the next except (i) as explained in an accompanying letter or footnotes and (ii) for the absence of footnotes and subject to
year-end adjustments. Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement. 
 Please indicate
compliance status by circling Yes/No under “Complies” column. 
  

					
	 Reporting Covenant
	  	Required	  	Complies
	 Quarterly financial statements with Compliance Certificate
	  	Quarterly within 45 days	  	Yes    No
	 Annual financial statement (CPA Audited) + CC
	  	FYE within 180 days	  	Yes    No
	 10-Q, 10-K and
8-K
	  	Within 5 days after filing with SEC	  	Yes    No
	 Annual Operating Plan
	  	30 days after FYE	  	Yes    No

  

													
	 Financial Covenant
	  	Required	 	  	Actual	 	  	Complies	 
	 Maintain at all times
	  				  				  			
	 Minimum Revenue
	  	 	See Section 6.6	  	  	$	            	  	  	 	Yes    No	  

 The following are the exceptions with respect to the certification above: (If no exceptions
exist, state “No exceptions to note.”) 
  

                 

 

                 

 

                 

 
  

					
	IMPINJ, INC.	  	
			
	By: 	 	  
	  	

					
	Name: 	 	  
	  	

					
	Title: 	 	  
	  	

  
 1 

 EXHIBIT C 

BORROWING RESOLUTIONS 

CORPORATE BORROWING CERTIFICATE 
  

			
	BORROWER:    IMPINJ, INC.	  	DATE:    September     , 2015
	LENDER:          SG ENTERPRISES II, LLC	  	

 I hereby certify as follows, as of the date set forth above: 

1. I am the Secretary, Assistant Secretary or other officer of the Borrower. My title is as set forth below. 

2. Borrower’s exact legal name is set forth above. Borrower is a corporation existing under the laws of the State of Delaware. 

3. Attached to Exhibit C-1 hereto are true, correct and complete copies of Borrower’s Articles/Certificate of Incorporation (including
amendments), as filed with the Secretary of State of the state in which Borrower is incorporated as set forth in paragraph 2 above. Such Articles/Certificate of Incorporation have not been amended, annulled, rescinded, revoked or supplemented, and
remain in full force and effect as of the date hereof. 
 4. Attached to Exhibit C-2 hereto are true, correct and complete copies of resolutions duly
and validly adopted by Borrower’s Board of Directors at a duly held meeting of such directors (or pursuant to a unanimous written consent or other authorized corporate action). Such resolutions are in full force and effect as of the date hereof
and have not been in any way modified, repealed, rescinded, amended or revoked, and Lender may rely on them until Lender receives written notice of revocation from Borrower. 

5. The following persons are on and as of the date hereof, duly elected officers of the Borrower holding the office(s) set opposite their respective names,
and that the signatures set opposite their respective names are the true signatures of said officers: 
  

					
	 Name
	  	 Title
	  	 Signature

	  
	  	  
	  	  

	  
	  	  
	  	  

	  
	  	  
	  	  

	  
	  	  
	  	  

 [Remainder of page intentionally left blank.] 

  
 1 

 IN WITNESS WHEREOF, the undersigned has executed this certificate as of the date first written above. 

 

			
	IMPINJ, INC.
		
	By:	 	  

			
	Name:	 	  

			
	Title:	 	  

  

	*	If the Secretary, Assistant Secretary or other certifying officer executing above is designated by the resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be
signed by a second authorized officer or director of Borrower. 

 I, the
                                        
of Borrower, hereby certify as to paragraphs 1 through 5 above, as of the date set forth above. 

                      [print
title] 
  

			
	By:	 	  

			
	Name:	 	  

			
	Title:	 	  

  
 2 

 Exhibit C-1 
  

  
 3 

 Exhibit C-2 

Mezzanine Loan Financing 

WHEREAS, there has been submitted to the Board of Directors (the “Board”) of the Company the terms and
conditions of a proposed secured loan facility (the “Mezzanine Loan Facility”) with SG Enterprises II, LLC (the “Lender”) relating to a secured mezzanine term loan facility in an aggregate principal amount of
$5,000,000; and this Board has reviewed the terms and conditions of the proposed Mezzanine Loan Facility. 
 WHEREAS, on the
basis of the Board’s review of the terms and conditions of the proposed Mezzanine Loan Facility, the Board deems it advisable and in the best interests of the Company that the Mezzanine Loan Facility be entered into with the Lender in
accordance with the terms and conditions presented to the Board. 
 RESOLVED: That it is in the best interest of the Company
and the stockholders of the Company to negotiate and enter into a mezzanine loan and security agreement, in substantially the form attached hereto as Exhibit A (the “Mezzanine Loan Agreement”), with Lender. 

RESOLVED FURTHER: That the officers of this Company and any designee of such officers (collectively, the “Authorized
Officers”), be, and each of them hereby is, individually authorized and empowered to execute and deliver, in the name and on behalf of the Company, the Mezzanine Loan Agreement and all other documents and agreements required to be executed
pursuant to the terms of the Mezzanine Loan Agreement (together with the Mezzanine Loan Agreement, such documents and agreements shall be referred to herein as the “Mezzanine Credit Documents”), including, without limitation, any
promissory notes, security agreements, pledge agreements, guaranties, account control agreements, and other collateral security documents, and all such other documents which are deemed to be necessary and advisable in order to carry out the terms
and the conditions of the Mezzanine Credit Documents, and that the terms and conditions of the Mezzanine Credit Documents are hereby approved, with such changes as may be approved by any Authorized Officer, such approval to be conclusively evidenced
by the execution and delivery of any Mezzanine Credit Documents by any such Authorized Officer. 
 RESOLVED FURTHER: That the
Authorized Officers be, and each of them hereby is, individually authorized and empowered to grant liens on all of the Company’s property (other than intellectual property, unless a court of competent jurisdiction holds that a security interest
in intellectual property is necessary to have a security interest in any proceeds arising out of, or relating to, any such intellectual property), including, without limitation, equipment, fixtures, inventory, chattel paper, instruments, deposit
accounts, investment accounts, investment property, contract rights, cash, payment intangibles, accounts and other rights of payment, all other property and general intangibles, all proceeds from the sale or licensing of intellectual property and
all proceeds of the foregoing and take such further action to maintain and perfect such liens and otherwise necessary to effect the purposes of the Mezzanine Credit Documents and to execute any and all certificates, financing statements and any
other document in connection therewith. 
 RESOLVED FURTHER: That the Authorized Officers, or any individuals designated by the
Authorized Officers whose names are provided in writing to the Lender, be, and each of them hereby is, authorized and empowered to borrow up to $5,000,000 pursuant to the terms of the Mezzanine Credit Documents. 

RESOLVED FURTHER: That, in order to fully carry out the intent and effectuate the purposes of the foregoing resolutions, the
Authorized Officers be, and each of them hereby is, individually authorized in the name and on behalf of the Company from time to time to take all such additional actions and to execute and deliver such additional certificates, instruments, notices,
financing statements, or other documents, as any Authorized Officer, may deem necessary, advisable or proper in order to carry out and perform the obligations of the Company under the Mezzanine Credit Documents, in the forms executed on behalf of
the Company pursuant to these resolutions, or under any other instrument or document executed pursuant to or in connection with such agreement and from time to time to amend or modify any of the Mezzanine Credit Documents in such manner and form, as
any Authorized Officer shall approve, such Authorized Officer’s approval to be conclusively evidenced by the performance of any such action or the execution and delivery of any such certificate, instrument, notice or document. 

  
 4 

 RESOLVED FURTHER: That any form resolutions proposed by Mezzanine Lender having
substantially the same effect as the foregoing be, and hereby are, adopted and approved and shall be attached to these resolutions and inserted in the minute book of the Company. 

Omnibus Resolutions 

RESOLVED: That the Authorized Officers be, and each of them hereby is, authorized and empowered to take any and all such further
action, to execute and deliver any and all such further agreements, instruments, documents and certificates and to pay such expenses, in the name and on behalf of the Company or such Authorized Officer, as any such Authorized Officer may deem
necessary or advisable to effectuate the purposes and intent of the resolutions hereby adopted, the taking of such actions, the execution and delivery of such agreements, instruments, documents and certificates and the payment of such expenses by
any such Authorized Officer to be conclusive evidence of his or her authorization hereunder and the approval thereof. 
 RESOLVED
FURTHER: That any and all actions taken by the Authorized Officers to carry out the purposes and intent of the foregoing resolutions prior to their adoption are approved, ratified and confirmed. 

RESOLVED FURTHER: That the Secretary and any Assistant Secretary of the Company are each hereby severally authorized and
empowered to certify to the passage of the foregoing resolutions. 

  
 5 

 EXHIBIT D 

PROMISSORY NOTE 
  

			
	$5,000,000	  	September     , 2015

 The undersigned (“Borrower”) promises to pay to the order of SG ENTERPRISES II, LLC, a
Washington limited liability company (“Lender”), at its office at [                    ], or at such other place as Lender may
designate in writing, in lawful money of the United States of America, the principal sum of Five Million Dollars ($5,000,000), with interest thereon from the date hereof until maturity, whether scheduled or accelerated, at a fixed rate per annum
equal to 18.0% in accordance with the terms of the Loan Agreement (as defined below). 
 This Promissory Note (the “Note”)
is the Note referred to in that certain Mezzanine Loan and Security Agreement dated as of September 25, 2015, between Borrower and Lender (as the same has been and may be amended, restated and supplemented from time to time, the “Loan
Agreement”), and is entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided therein. Each capitalized term not otherwise defined herein shall have the meaning set forth in the
Loan Agreement. The Loan Agreement contains provisions for the acceleration of the maturity of this Note upon the happening of certain stated events. Principal of and interest on this Note shall be payable as provided in the Loan Agreement. 

This Note shall be governed by, and construed in accordance with, the laws of the State of Washington, excluding those laws that direct the
application of the laws of another jurisdiction. 
 ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO FORBEAR FROM
ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW. 

  
 1 

 IN WITNESS WHEREOF, the undersigned has caused this Note to be signed as of the day and year first above written.

  

			
	BORROWER:
	
	IMPINJ, INC.
		
	By:	 	 

			
	Name:	 	  

			
	Title:	 	  

  
 2Office Lease, dated December 10, 2014

 Exhibit 10.21 

OFFICE LEASE 
 dated as
of December 10, 2014 
 between 

400 FAIRVIEW LLC, 
 as
Landlord 
 and 

IMPINJ, INC., 
 as Tenant

 OFFICE LEASE 

THIS OFFICE LEASE is made as of this 10th day of December, 2014 (the “Effective
Date”), by and between 400 FAIRVIEW LLC, a Delaware limited liability company (“Landlord”), and IMPINJ, INC., a Delaware corporation (“Tenant”). This Lease shall be binding on the parties upon
execution and delivery of the signed Lease by both parties. Landlord is authorized to insert the date of Landlord’s execution in the blank above and if no date is inserted, the date of this Lease shall be the date Landlord’s signature was
notarized. 
 LEASE SUMMARY 
 The
Project 
  

					
	(a) 	  	Project Name:	  	400 Fairview
	(b)	  	Building Address:	  	400 Fairview Avenue North
		  		  	Seattle, WA 98109
	(c)	  	Building Rentable Area:	  	321,932 square feet (estimated) of office space and 17,102 square feet (estimated) of retail space

 The Premises 
  

					
	(a) 	  	Location:	  	A portion of the loading dock level (the “Storage Premises”) and all of Floors 11 and 12 (collectively, the “Initial Premises”)
	(b)	  	Initial Premises Rentable Area:	  	51,662 square feet (estimated)
	(c)	  	Suite Number:	  	1200
	(d)	  	Expansion Space:	  	Approximately 8,000 to 12,000 feet on a floor and location to be selected by Landlord

 Term 
  

					
	(a) 	  	Initial Term:	  	Ten (10) years
	(b)	  	Estimated Commencement Date:	  	January 1, 2016
	(c)	  	Extension Options:	  	Two (2) options for five (5) years each

 Base Rent 
  

			
	 Month(s)
	  	 Annual Rate Per Square Foot of Premises Rentable Area

	1 to 12	  	Thirty-six and 50/100 Dollars ($36.50)
	13 to 24	  	Thirty-seven and 60/100 Dollars ($37.60)
	25 to 36	  	Thirty-eight and 72/100 Dollars ($38.72)
	37 to 48	  	Thirty-nine and 88/100 Dollars ($39.88)
	49 to 60	  	Forty-one and 09/100 Dollars ($41.08)
	61 to 72	  	Forty-two and 31/100 Dollars ($42.31)
	73 to 84	  	Forty-three and 58/100 Dollars ($43.58)
	85 to 96	  	Forty-four and 89/100 Dollars ($44.89)
	97 to 108	  	Forty-six and 24/100 Dollars ($46.24)
	109 to 120	  	Forty-seven and 62/100 Dollars ($47.62)

  
 ii 

 Allowance 

Seventy-five and 00/100 Dollars ($75.00) per square foot of Rentable Area in the Initial Premises 

Security Deposit/Letter of Credit 

$900,000 plus the amount of the Additional Advance under Exhibit C and subject to reduction as provided in Sections 4.2 and
4.3 
 Prepaid Rent 
  

					
	(a) 	  	Prepaid Rent:	  	$202,845.62
	(b)	  	Applied to Month:	  	Month in which the Commencement Date occurs.

 Parking 

1.5 Parking Passes for every 1,000 square feet of Premises Rentable Area, subject to adjustment under Section 7 

Brokers 
  

					
	(a) 	  	Tenant’s Broker:	  	Jones Lang LaSalle (Steve Schwartz)
	(b)	  	Landlord’s Broker:	  	Jones Lang LaSalle (Trevor Clark and Allison Fadden)

 Initial Addresses for Notices 

 

			
	 Landlord:
 400 Fairview LLC

221 Yale Avenue N, Suite 400
 Seattle, WA 98109

 
 with a copy to:
  

Skanska USA Commercial Development Inc.
 Empire State Building

350 Fifth Avenue, 32nd Floor
 New York, NY 10118, USA

Attn: General Counsel
  

Prior to the Commencement Date with a copy to:
  

Davis Wright Tremaine LLP
 1201 Third Avenue, Suite 2200

Seattle, WA 98101-3045
 Attn: Lisa Peterson
	  	 Tenant:
 IMPINJ, Inc.

701 N. 34TH Street
 Seattle, WA 98103

 
 Prior to the Commencement Date with a copy to:

 
 Real Property Law Group, PLLC

1326 5th Avenue., Suite 654
 Seattle WA, 98101

Attn: Vince DePillis

  

							
	   /s/ LP
	  		  		  	   /s/ EF

	Landlord Initials	  		  		  	Tenant Initials

  
 iii 

 TABLE OF CONTENTS 

 

							
	1.	 	 PREMISES
	  	 	1	  
	2.	 	 TERM
	  	 	6	  
	3.	 	 RENT
	  	 	10	  
	4.	 	 LEASE SECURITY
	  	 	18	  
	5.	 	 BUSINESS PURPOSE AND USE
	  	 	20	  
	6.	 	 TENANT’S TAXES
	  	 	23	  
	7.	 	 PARKING
	  	 	23	  
	8.	 	 SERVICES, REPAIRS, MAINTENANCE AND ALTERATIONS
	  	 	24	  
	9.	 	 INSURANCE
	  	 	30	  
	10.	 	 DESTRUCTION AND CONDEMNATION
	  	 	32	  
	11.	 	 CONDEMNATION
	  	 	34	  
	12.	 	 INDEMNITY AND WAIVER
	  	 	34	  
	13.	 	 ASSIGNMENT, SUBLEASE AND SUCCESSION
	  	 	36	  
	14.	 	 TENANT DEFAULT AND REMEDIES
	  	 	40	  
	15.	 	 SURRENDER OF POSSESSION
	  	 	43	  
	16.	 	 ENTRY BY LANDLORD
	  	 	44	  
	17.	 	 SUBORDINATION
	  	 	44	  
	18.	 	 NOTICES
	  	 	46	  
	19.	 	 HAZARDOUS MATERIALS
	  	 	46	  
	20.	 	 SIGNS
	  	 	47	  
	21.	 	 DELAYS
	  	 	48	  
	22.	 	 MISCELLANEOUS
	  	 	49	  

 List of Exhibits: 
  

			
	Exhibit A	  	Floor Plans
	Exhibit B	  	Property Legal Description
	Exhibit C	  	Tenant Improvement Work Letter
	Exhibit D	  	Confirmation Certificate
	Exhibit E	  	Sample Lease Termination Calculation
	Exhibit F	  	Exterior Signage Concept

  
 iv 

 SCHEDULE OF DEFINED TERMS 

 
  

							
	 	 	 Section No.
	  	Page No.	 
	 Acceptance Notice
	 	Section 1.1.3	  	 	3	  
	 ADA
	 	Section 5.5	  	 	19	  
	 Additional Rent
	 	Section 3.4	  	 	14	  
	 Adjusted EBITDA
	 	Section 4.3	  	 	16	  
	 Allowance
	 	Exhibit C, Paragraph 1	  	 	1	  
	 Alterations
	 	Section 8.4	  	 	23	  
	 Antenna
	 	Section 8.9	  	 	24	  
	 Arbiter
	 	Section 3.2.3	  	 	9	  
	 Architect
	 	Exhibit C, Paragraph 1	  	 	1	  
	 Availability Notice
	 	Section 1.1.3	  	 	3	  
	 Base Building
	 	Section 1.3	  	 	5	  
	 Base Parking Allocation
	 	Section 7	  	 	19	  
	 Base Rent
	 	Section 3.1	  	 	8	  
	 Building Hours
	 	Section 8.1.1	  	 	20	  
	 Building Rentable Area
	 	Section 3.3.1	  	 	10	  
	 Building
	 	Section 1.1	  	 	1	  
	 Building Services
	 	Section 8.1	  	 	20	  
	 Building Standard Materials
	 	Exhibit C, Paragraph 1	  	 	1	  
	 CAD
	 	Exhibit C, Paragraph 1	  	 	1	  
	 Commencement Date
	 	Section 2.1	  	 	5	  
	 Common Areas
	 	Section 1.2	  	 	4	  
	 Construction Contract
	 	Exhibit C, Paragraph 1	  	 	1	  
	 Construction Drawings
	 	Exhibit C, Paragraph 1	  	 	1	  
	 Contractor
	 	Exhibit C, Paragraph 1	  	 	1	  
	 Controllable Operating Costs
	 	Section 3.3.6	  	 	13	  
	 Covered Parties
	 	Section 22.1	  	 	40	  
	 day
	 	Section 22.11	  	 	41	  
	 Default Rate
	 	Section 3.6	  	 	14	  
	 Delivery Deadline
	 	Section 2.1.2	  	 	6	  
	 Determination Period
	 	Section 3.2.3	  	 	9	  
	 Early Termination Date
	 	Section 2.4	  	 	8	  
	 Early Termination Right
	 	Section 2.4	  	 	8	  
	 Election Notice
	 	Section 2.2	  	 	7	  
	 environmental condition
	 	Section 19.3	  	 	39	  
	 Environmental Laws
	 	Section 19.1	  	 	38	  
	 Event of Default
	 	Section 14.1	  	 	33	  
	 Executive Order
	 	Section 22.1	  	 	40	  

  
 v 

							
	 Expansion Space Allowance
	 	Section 1.1.2	  	 	2	  
	 Expansion Space Commencement Date
	 	Section 1.1.2	  	 	2	  
	 Expansion Space Delivery Condition
	 	Section 1.1.2	  	 	2	  
	 Expansion Space
	 	Section 1.1.2	  	 	1	  
	 Extension Option
	 	Section 2.2	  	 	7	  
	 Extension Period
	 	Section 2.2	  	 	7	  
	 FF&E
	 	Exhibit C, Paragraph 1	  	 	1	  
	 Force Majeure Causes
	 	Section 21	  	 	40	  
	 Garage
	 	Section 7	  	 	19	  
	 Green Standards
	 	Section 5.2	  	 	18	  
	 Hazardous Materials
	 	Section 19.1	  	 	38	  
	 HVAC
	 	Section 8.1.1	  	 	20	  
	 including
	 	Section 22.9	  	 	41	  
	 Indemnitee
	 	Section 12.1.1	  	 	28	  
	 Indemnitees
	 	Section 12.1.1	  	 	28	  
	 Initial Tenant
	 	Section 1.1.3	  	 	3	  
	 Initial Term
	 	Section 2.3	  	 	7	  
	 Interim Tenant
	 	Section 1.1.2	  	 	1	  
	 Landlord
	 	Lease Summary	  	 	ii	  
	 Landlord’s Contractor
	 	Section 2.1	  	 	5	  
	 Laws
	 	Section 5.4	  	 	18	  
	 Letter of Credit
	 	Section 4.2	  	 	15	  
	 Line Problems
	 	Section 8.8	  	 	24	  
	 Lines
	 	Section 8.8	  	 	23	  
	 List
	 	Section 22.1	  	 	40	  
	 Major Encumbrance
	 	Section 17.1	  	 	37	  
	 Market Rent
	 	Section 3.2.1	  	 	8	  
	 OFAC
	 	Section 22.1	  	 	40	  
	 Offer Space Commencement Date
	 	Section 1.1.3	  	 	3	  
	 Offer Space
	 	Section 1.1.3	  	 	3	  
	 Operating Costs
	 	Section 3.3.2	  	 	10	  
	 Ownership Parties
	 	Section 22.18	  	 	42	  
	 Parking Passes
	 	Section 7	  	 	19	  
	 Permitted Capital Items
	 	Section 3.3.2(f)	  	 	11	  
	 Permitted Materials
	 	Section 5.1	  	 	17	  
	 Permitted Transfer
	 	Section 13.3	  	 	30	  
	 Permitted Transferee
	 	Section 13.3	  	 	30	  
	 person
	 	Section 22.9	  	 	41	  
	 Premises Rentable Area
	 	Section 3.3.1	  	 	10	  

  
 vi 

							
	 Premises
	 	Section 1.1	  	 	1	  
	 Prepaid Rent
	 	Section 4.6	  	 	17	  
	 Property
	 	Section 1.1	  	 	1	  
	 Qualifying Improvements
	 	Section 1.1.2	  	 	2	  
	 Real Property Taxes
	 	Section 3.3.2(g)	  	 	11	  
	 Reconciliation Statement
	 	Section 3.3.5	  	 	12	  
	 Reduced Deposit
	 	Section 4.3	  	 	16	  
	 Rent
	 	Section 3.4	  	 	14	  
	 Rentable Area
	 	Section 3.3.1	  	 	10	  
	 Required Condition
	 	Section 2.1	  	 	6	  
	 Right of First Opportunity
	 	Section 1.1.3	  	 	3	  
	 Sales Tax Deferral
	 	Section 3.7	  	 	14	  
	 Security Deposit
	 	Section 4.1	  	 	15	  
	 Senior Party
	 	Section 17.1	  	 	37	  
	 Service Failure
	 	Section 8.1.7	  	 	22	  
	 SNDA
	 	Section 17.1	  	 	37	  
	 Space Plan
	 	Exhibit C, Paragraph 1	  	 	1	  
	 Tenant Delay
	 	Exhibit C, Paragraph 11	  	 	7	  
	 Tenant Improvements
	 	Section 1.5	  	 	5	  
	 Tenant
	 	Lease Summary	  	 	ii	  
	 Tenant Parties
	 	Section 12.1.1	  	 	29	  
	 Tenant’s Share
	 	Section 3.3.1	  	 	10	  
	 Term
	 	Section 2.3	  	 	7	  
	 Termination Fee
	 	Section 2.4	  	 	8	  
	 Termination Notice
	 	Section 2.4	  	 	8	  
	 Transfer
	 	Section 13.1	  	 	29	  

  
 vii 

 OFFICE LEASE 

1. PREMISES 
 1.1 Premises.
Landlord leases to Tenant and Tenant leases from Landlord, upon the terms and conditions herein, the premises described as the Initial Premises in the Lease Summary and generally shown on the floor plans attached hereto as Exhibit A (together
with any space hereafter added to the Initial Premises, the “Premises”). The Premises will be part of a building (the “Building”) that Landlord is constructing upon the real property situated in the City of Seattle,
County of King, State of Washington, legally described in Exhibit B attached hereto (the “Property”). Each increment of space included in the Premises shall be measured by Landlord in accordance with the standard described in
Section 3.3.1 below. If changes are made during construction that affect the area calculations, Landlord shall provide Tenant with copies of updated area calculations prepared by its architect so that Tenant may verify the Premises
Rentable Area. Tenant, at Tenant’s cost, may retain a qualified architect to review and verify Landlord’s calculations and Landlord shall direct its architect to review its calculations with Tenant’s architect. If Tenant’s
architect believes that it has found errors, Tenant shall provide a full and complete copy of the architect’s calculations and worksheets to Landlord and shall provide an explanation of the claimed errors with references to the relevant BOMA
standard. The two (2) architects and the parties shall then meet to resolve any discrepancies. 
 1.1.1 Right of First Notice.
Until such time as Landlord has identified the Expansion Space under Section 1.1.2 below, if Landlord delivers a term sheet to a third party exclusively covering space on the tenth (10th) floor of the Building, Landlord shall notify
Tenant in writing. This Section shall not apply if Landlord delivers a term sheet to a third party that covers space on the tenth (10th) floor as well as space on another floor. Tenant shall have three (3) business days to notify Landlord
in writing that Tenant has elected to lease the portion of the tenth (10th) floor described in Landlord’s notice on such terms as Landlord and Tenant may agree upon in writing within the time frame described below. If Tenant does not
deliver such written notice within three (3) business days, Tenant shall have no further rights under this Section 1.1.1 until the later of (a) one hundred twenty (120) days after the date of Landlord’s notice, or
(b) the date on which Landlord finalizes a lease with a third party if negotiations of the lease started during such one hundred twenty (120) day period. If Tenant leases any space on the tenth (10th) floor under this Section, the
square footage of space so leased shall be deducted from the Expansion Space under Section 1.1.2 below. If Tenant notifies Landlord that it elects to lease space under this Section and the parties have not executed an amendment to this
Lease within fifteen (15) days after the date of Landlord’s notice, this Section shall be of no further force or effect. The amendment to add any space under this Section shall include a calculation of the Termination Fee payable under
Section 2.4 with respect to such space. The term of the Lease for any space leased under this Section 1.1.1 shall be coterminous with the Term for the balance of Initial Premises. 

1.1.2 Expansion. Effective no later than the first day of the thirty-seventh (37th) month of the Term, Tenant shall lease
additional space consisting of between eight and twelve thousand square feet of Rentable Area (the “Expansion Space”). Landlord shall select the Expansion Space which shall consist of contiguous area on any single floor in the
Building reaching from the Building core to the exterior windows, with access to the elevator lobby, 

 
emergency stairs, and common area restrooms. Landlord may lease the Expansion Space to a third party (the “Interim Tenant”) provided that the lease with the Interim Tenant
requires the Interim Tenant to vacate the Expansion Space prior to the Expansion Space Commencement Date. If Landlord does not lease the Expansion Space to an Interim Tenant, Tenant may elect to lease the Expansion Space prior to the first day of
the thirty-seventh (37th) month of the Term by giving Landlord written notice of such election. 
 (a) Delivery Condition. If
the Expansion Space has been occupied by an Interim Tenant, Landlord shall deliver possession of the Expansion Space to Tenant vacant, clean, free of all personal property, free of damage except for ordinary wear and tear, and legally able to be
occupied. If the Expansion Space has been improved, but not occupied, the Expansion Space shall be delivered to Tenant with the “Qualifying Improvements” (as defined in Section 1.1(b) below) substantially complete and in
undamaged condition, and legally able to be occupied. If the Expansion Space has not been improved, it shall be delivered to Tenant in the “Required Condition” as defined in Section 2.1. The required delivery condition
as set forth in the foregoing three sentences is referred to herein as the “Expansion Space Delivery Condition”. 
 (b)
Improvements. If Landlord elects to construct tenant improvements in the Expansion Space, the tenant improvements in the Expansion Space shall (i) utilize Building Standard Materials (as defined in Exhibit C), (ii) include
building standard and fully operable mechanical, electrical and plumbing systems, and (iii) be configured in a flexible, open floor plan with an appropriate number of interior conference rooms for a space of that size (all of the foregoing
being collectively, the “Qualifying Improvements”). Landlord shall deliver a space plan and finish board to Tenant showing the Qualifying Improvements and Tenant shall have ten (10) days to review and comment thereon.
Tenant’s approval of the space plan and finish board shall not be unreasonably withheld and shall be deemed to have been given unless Tenant notifies Landlord in writing stating reasonable grounds for disapproval within ten (10) days after
Landlord delivers the space plan and finish board to Tenant. If Tenant does not approve the space plan and finish board the parties’ architects shall meet to discuss the objections and Landlord may submit a modified plan for approval, and the
parties shall act reasonably and in good faith to resolve all differences provided that the Landlord is not required to make any changes that increase the cost of construction of the Qualifying Improvements or are not consistent with the definition
of Qualifying Improvements. 
 (c) Expansion Space Commencement Date. If Landlord has not constructed Qualifying Improvements in the
Expansion Space or leased the Expansion Space to an Interim Tenant, Landlord shall deliver the Expansion Space to Tenant on or about the first day of the 33rd month of the Term. The date on which the Landlord delivers possession of the Expansion
Space to Tenant with the appropriate Expansion Space Delivery Condition fully satisfied is referred to herein as the “Expansion Space Commencement Date”. The Expansion Space shall become a part of the Premises for all purposes on
the Expansion Space Commencement Date, except as set forth below. 
 (d) Rent Commencement Date. (i) If Landlord has constructed
Qualifying Improvements in the Expansion Space and the Expansion Space Commencement Date occurs prior to the first day of the 37th month of the Term, Tenant shall begin paying Base Rent and Tenant’s Share of Operating Costs on the Expansion
Space Commencement Date. (ii) 

  
 2 

 
If Landlord has not constructed Qualifying Improvements in the Expansion Space and the Expansion Space Commencement Date occurs prior to the first day of the 37th month of the Term, Tenant shall begin paying Base Rent and Tenant’s Share of Operating Costs on the 120th day following the Expansion Space
Commencement Date or the date on which Tenant begins business operations in the Expansion Space (if earlier). If Landlord has satisfied the Expansion Space Delivery Condition, Tenant shall begin paying Base Rent and Tenant’s Share of Operating
Costs on the Expansion Space no later the first day of the 37th month of the Term or the date on which Tenant begins business operations in the Expansion Space (if earlier). 

(e) Allowance. Landlord shall pay an allowance under one of the following provisions, as applicable (the “Expansion Space
Allowance”). The Expansion Space Allowance shall be disbursed following the Expansion Space Commencement Date in the same manner and subject to the same conditions as provided for the disbursement of the Allowance for the Initial Premises
under Exhibit C except that Tenant shall have two (2) years from the Expansion Space Commencement Date to use the Allowance. The Expansion Space Allowance may be used for the same items as the initial Allowance. 

(i) If Landlord has constructed Qualifying Improvements in the Expansion Space, and the Expansion Space has not been occupied by an Interim
Tenant, the Expansion Space Allowance shall be equal to Ten Dollars ($10.00) per square foot of Rentable Area in the Expansion Space and Tenant shall make any necessary alterations to the Expansion Space under the terms and conditions of
Section 8.4 below. 
 (ii) If Landlord has constructed Qualifying Improvements in the Expansion Space, and the Expansion Space
has been occupied by an Interim Tenant, the Expansion Space Allowance shall be equal to Fifteen Dollars ($15.00) per square foot of Rentable Area in the Expansion Space and Tenant shall make any necessary alterations to the Expansion Space under the
terms and conditions of Section 8.4 below. 
 (iii) If Landlord has not constructed Qualifying Improvements in the Expansion
Space, the Expansion Space Allowance shall be equal to Fifty-two and 50/100 Dollars ($52.50) per square foot of Rentable Area in the Expansion Space and Tenant shall construct improvements in the Expansion Space under the terms and conditions of
Exhibit C attached hereto. 
 1.1.3 Right of First Opportunity. Tenant shall have the right (the “Right of First
Opportunity”) to lease the entirety of either Floor 10 or Floor 14 (the first of such floors to become available to lease shall be the “Offer Space”) on the following terms and conditions. If Landlord elects in its sole
discretion to market either floor included in the Offer Space for lease on less than a full floor basis, the Right of First Opportunity shall apply separately to each increment of space on the first such floor to become available to lease. Floor 10
and Floor 14 are currently available for lease and Tenant has elected not to include either floor in the Initial Premises. The Right of First Opportunity shall take effect when the Offer Space has been leased to a third party (together with its
successors, assigns and subtenants, the “Initial Tenant”) and again becomes available to lease on a direct basis from Landlord. Thereafter, when Landlord determines that either Floor 10 or Floor 14 as identified by Landlord will be
available for leasing to a new tenant, Landlord shall deliver written notice to Tenant (the “Availability Notice”). The 

  
 3 

 
Availability Notice shall identify the Offer Space that is then available for lease. After the first eighteen (18) months of the Term, the Availability Notice shall include the rent schedule
applicable to the Offer Space as well as any incentives or allowances Landlord is offering which shall reflect Landlord’s opinion of the Market Rent (as defined in Section 3.2). Tenant may exercise its Right of First Opportunity for
all of the Offer Space described in the Availability Notice by delivering irrevocable written notice (an “Acceptance Notice”) to Landlord no later than ten (10) days after delivery of the Availability Notice to Tenant. If the
Offer Space described in the Availability Notice is less than a full floor, Tenant may elect to lease the partial floor described in the Availability Notice and the Right of First Offer shall remain in effect for the balance of that floor. Time is
of the essence of this provision and late notice shall not be effective. If Tenant delivers an Acceptance Notice, then Landlord shall prepare and the parties shall execute an amendment to this Lease reflecting the inclusion of the Offer Space as
part of the Premises effective as of the date on which possession of the Offer Space is tendered to Tenant (the “Offer Space Commencement Date”). Tenant’s Share shall be adjusted to include the Rentable Area of the Offer Space
effective as of the Offer Space Commencement Date. All of the terms and conditions of this Lease shall apply to the Offer Space except as provided herein. Tenant will lease the Offer Space in its then-current as-is condition and Landlord shall not
be required to make improvements to or contribute funds toward any improvements in the Offer Space, except as provided herein. 
 (a)
Economic Terms for Offer Space – First 18 Months. If Tenant’s Acceptance Notice is delivered during the first eighteen (18) months of the Term, (i) if the Offer Space is the 10th Floor the Base Rent applicable to the Offer
Space throughout the Term shall be equal to the per square foot Base Rent rate then in effect on the balance of the Initial Premises, (ii) if the Offer Space is the 14th Floor, the Base Rent applicable to the Offer Space throughout the Term
shall be equal to the per square foot Base Rent rate then in effect on the balance of the Initial Premises plus One and 50/100 Dollars ($1.50) per square foot (such increment being added at each rent adjustment for the balance of the Term),
(iii) Landlord will pay (x) a tenant improvement allowance for the Offer Space equal to the Allowance on the Initial Premises, and (y) a brokerage commission to the Tenant’s broker identified in the Lease summary, each of which
shall be multiplied by a fraction equal to the number of days remaining in the Initial Term when Tenant begins paying Base Rent on the Offer Space divided by 3650, and (iv) Tenant shall be entitled to one (1) day of beneficial occupancy
(i.e. possession without the obligation to pay Base Rent or Tenant’s share of Operating Costs) for each month remaining in the Initial Term when Tenant begins paying Base Rent on the Offer Space. The Tenant Improvements shall be constructed and
the allowance shall be paid pursuant to the provisions of Exhibit C. 
 (b) Economic Terms for Offer Space – Subsequent to
First 18 Months. If Tenant’s Acceptance Notice is delivered after the first eighteen (18) months of the Term, the Base Rent and any concessions or allowances payable with respect to the Offer Space shall be the amounts set forth in the
Availability Notice accepted by Tenant except as provided below. Tenant shall be deemed to have accepted the terms set forth in the Availability Notice unless the Acceptance Notice requests that Base Rent for the Available Space be determined in
accordance with the procedures set out in Section 3.2, as modified herein. If Tenant elects to have Base Rent for the Available Space determined in accordance with the procedures set out in Section 3.2, Landlord and Tenant
shall use good faith efforts to agree on Base Rent in writing 

  
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within the thirty (30) calendar day period commencing upon Landlord’s receipt of the Acceptance Notice. Landlord shall not be required to pay any brokerage fee or commission to
Tenant’s Broker identified in the Lease Summary with respect to the Offer Space under this clause (b). The Tenant Improvements shall be constructed and the allowance, if any, shall be paid pursuant to the provisions of Exhibit C.

 (c) Waiver. If Tenant does not deliver an Acceptance Notice within ten (10) days after delivery of the Availability Notice,
Landlord may lease the Offer Space to any third party without providing any additional notice to Tenant and the Right of First Opportunity shall be of no further force and effect except as provided above if the Availability Notice is for a partial
floor. Tenant may not sublease the Offer Space from the Initial Tenant or any of its successors or subtenants and Landlord shall have no obligation to consent to such a sublease. 

(d) Limitations. Landlord may extend or renew the Lease with the Initial Tenant or may execute a new lease with the Initial Tenant
without offering the Offer Space to Tenant. Landlord shall have no obligation to provide an Availability Notice and Tenant’s Right of First Opportunity shall be void during any period when a default is outstanding under this Lease.
Tenant’s Right of First Opportunity shall be void and of no further force and effect if more than two (2) Events of Default (as defined in Section 14.1) occur under this Lease. During the last two (2) years of the Term,
Tenant may not exercise the Right of First Opportunity unless Tenant has the right to and simultaneously exercises an Extension Option under Section 2.2. If Tenant exercises the Right of First Opportunity and an Event of Default by
Tenant occurs prior to Tenant’s occupancy of the Offer Space, Landlord may elect, by written notice to Tenant, to nullify Tenant’s Acceptance Notice, in which event Tenant shall have no further rights with respect to the Offer Space. 

(e) Personal Right. The Right of First Opportunity is personal to the Tenant originally named herein and any transferee who has assumed
all of Tenant’s obligations under this Lease under a Permitted Transfer (as defined in Section 13.2) and may not be exercised by or for the benefit of any other party. 

(f) Termination. The Right of First Opportunity shall terminate if Tenant exercises its early termination right under
Section 2.4 below. 
 1.2 Common Areas. So long as Tenant occupies the Premises and is not in default under the terms of
this Lease, Tenant, its invitees, customers and employees shall have the nonexclusive right to use all areas of the Building and Property designated by Landlord from time to time for common use such as the public parking areas, loading areas, patios
and walkways, landscaped areas, public lobbies, restrooms and corridors (the “Common Areas”) in common with Landlord, other Building tenants, and their respective invitees, customers and employees. The use of the Common Areas shall
be subject to the terms and conditions of this Lease and any reasonable rules and regulations Landlord may promulgate from time to time. 

1.3 Initial Building. Landlord shall construct the Building including those items shown as Landlord’s Work on the chart attached
hereto as Exhibit C-1 in accordance with the permits received from the City of Seattle, subject to such changes and modifications as Landlord may make from time to time during the course of construction (the “Base Building”).
The 

  
 5 

 
internal stair shall be located in the area depicted on Exhibit A. Prior to the date of this Lease, Landlord has completed certain work in connection with Tenant’s proposed stair
opening, including preparation of a design. Landlord shall arrange for the design and construction of the opening required to accommodate Tenant’s internal stair in accordance with the design prepared by Landlord’s engineer. Any costs
incurred by Landlord to complete the design and construction of the stair will be paid in advance by Tenant or deducted from the Allowance under Exhibit C. Landlord shall not make any changes during the course of construction of the Base
Building which (a) materially and adversely affect the vision and functional uses of the retail and restaurant areas proposed for the “Market Hall” area on the ground floor of the Building or the tenant event space, (b) reduce
the amount and accessibility of the parking below that required by code, or (c) reduce the quality of the mechanical systems. Notwithstanding the foregoing, Landlord makes no representation or warranty with respect to the occupancy by any
tenant of the Building, the date on which any tenant will occupy its space or the use to which any other tenant will put its space. 
 1.4
Reserved Rights. After initial construction of the Base Building, Landlord may in its discretion increase, decrease, or change the Common Areas from time to time, provided that such changes do not materially and adversely affect the access to or
use of the Premises and provided that Landlord may not materially reduce or eliminate (but may relocate) the “tenant event space” or reduce the area devoted to retail uses in the ground floor to less than 50% of the retail rentable area on
the ground floor. Notwithstanding the foregoing, Landlord shall not be required to retain a tenant event space if the event space is not being used by Tenant for meetings large enough to require the event space at least once a month. Landlord
reserves the right from time to time to install, use, maintain, repair, relocate and replace pipes, ducts, conduits, wires, meters and other equipment to serve the Premises and other parts of the Building. In exercising its rights under this Section
or other comparable provisions of this Lease, Landlord shall not permanently, materially and unreasonably interfere with Tenant’s use of or access to the Premises. Landlord reserves the right from time to time to change the size, layout and
dimensions of the Building or any part thereof. Landlord may erect scaffolding and other necessary structures where reasonably required by the character of the work to be performed. 

1.5 Improvements Within the Premises. Except as expressly provided in this Lease, Landlord shall have no obligation to make or to
contribute any sum of money toward the cost of any alterations or improvements to the Premises. Initial construction of the improvements in the Premises not provided as part of the Base Building constructed by Landlord under Section 1.3
(the “Tenant Improvements”) shall be governed by Exhibit C attached hereto. Except for any work required to be provided by Landlord under this Lease, Tenant shall be solely responsible for any changes or alterations to the
Premises required in order to accommodate Tenant’s use. Landlord agrees that Tenant may install an internal stair to connect the two floors of the Premises. 

2. TERM 
 2.1 Initial Term. The
“Commencement Date” shall be the later of (a) January 1, 2016, or (b) two hundred sixty (260) days after either (i) if Tenant contracts with Skanska USA Building Inc. (“Landlord’s
Contractor”) to construct the Tenant Improvements, the date on which Landlord’s Contractor determines that it can begin work on the Tenant Improvements; or 

  
 6 

 
(ii) if Tenant does not contract with Landlord’s Contractor to construct the Tenant Improvements, the date on which Landlord notifies Tenant that the Premises are ready for Tenant’s
contractor to start construction of Tenant Improvements. Notwithstanding the foregoing, in no event shall the Commencement Date occur before (i) the Base Building work on each floor of the Premises (except for any elements thereof that cannot
be completed until the Tenant Improvements are completed) has been substantially completed (as that term is used in the construction industry) with only minor punch-list or corrective work remaining that will not materially interfere with
Tenant’s use of the Premises; (ii) the elevators serving the Premises are in working order, (iii) Landlord has obtained a temporary certificate of occupancy for the Base Building and all other material permits and authorizations
required for the occupancy and use of the Base Building (excluding any spaces intended to be occupied by tenants), (iv) all services and utilities that Landlord is required to provide under the terms of this Lease are available to the Premises
and all Base Building systems are operational (subject to normal punch list items and final balancing of mechanical systems that do not materially impact Tenant’s operations within the Premises); and (v) Tenant has access to and use of the
parking required under Section 7 below (all of the foregoing being the “Required Condition”). Landlord and Tenant acknowledge that this Lease is binding upon execution hereof notwithstanding the later Commencement Date.

 2.1.1 Beneficial Occupancy. If Tenant enters the Premises prior to the Commencement Date, Tenant shall be bound by all terms and
conditions of this Lease except that the Term and the obligation to pay Base Rent shall not begin until the Commencement Date. If the Premises are ready for occupancy prior to the Commencement Date, Tenant shall have beneficial occupancy of the
Premises and may commence business operations in the Premises and from that date until the Commencement Date, Tenant shall be required to pay Tenant’s Share of Operating Costs and the parking charges under Section 7 below. 

2.1.2 Delivery Estimate. Landlord estimates that the Premises will be ready for Tenant construction of Tenant Improvements to start
(a) on or about June 16, 2015, if Tenant does not use Landlord’s Contractor, or (b) on or about April 17, 2015, if Tenant uses Landlord’s Contractor. “Ready for construction of Tenant Improvements” means that
construction of the Base Building has progressed to the point that construction of the Tenant Improvements by Landlord’s Contractor or by Tenant’s contractor can proceed while Landlord’s Contractor completes the Base Building. In
addition, if Tenant does not use Landlord’s Contractor then the following items shall have been substantially completed by Landlord’s Contractor in order for the Premises to be ready for construction of Tenant Improvements: (i) a
temporary or permanent roof or other means and methods to control weather is in place and work on the exterior enclosure is in progress; (ii) temporary or permanent stair access to the Premises that complies with OSHA and other governmental
requirements for construction is in place; (iii) shell and core electrical and mechanical equipment have been installed to the Premises, but not fully energized, and services have been stubbed out to the Premises and are available for Tenant to
tie in when the temporary certificate of occupancy for the shell and core has been approved by the City of Seattle; (iv) hoisting mechanism is in place for Tenant’s use in accordance with Landlord and Contractor’s site rules; and
(v) temporary power is available for use by Tenant’s contractor if permanent power is not available. Tenant acknowledges that Landlord has not guaranteed that construction of Tenant Improvements can begin by these dates. If the Premises
are not ready for construction of Tenant Improvements to start by these estimated dates, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage and this Lease shall remain in full force and effect,
except as provided below. 

  
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 (a) If the Premises are not ready for construction of Tenant Improvements by the date
that is thirty (30) days after the applicable estimated date provided above plus the length of any delay for reasons of Tenant Delay or Force Majeure Causes (the “Delivery Deadline” ), then Tenant as its sole and exclusive
remedy for such delay shall be entitled to a credit against the first sums of Base Rent coming due under this Lease in an amount equal to one (1) day of Base Rent for every one (1) day between the Delivery Deadline and the date on which
the Premises are ready for construction of Tenant Improvements provided that such rent credit shall not apply if Tenant commences business in the Premises by November 30, 2015. Tenant shall not be entitled to any rent credit unless Tenant is
required to pay penalty rent or damages or forego bonus payments under its written agreements with its existing landlord and the company which will be taking Tenant’s prior premises and provides a true and correct copy of such agreements to
Landlord. In no event shall the total rent credit for delay in delivery exceed Three Hundred Thousand Dollars ($300,000). 
 (b) In
addition, if the Premises are not ready for construction of Tenant Improvements by November 1, 2015, then, notwithstanding that Landlord has not breached any obligation to Tenant under this Lease, Tenant shall be entitled to terminate this
Lease by written notice to the other party; provided that Tenant may not terminate this Lease if the Premises are not ready for construction of Tenant Improvements because of Tenant Delay; and provided further that Landlord may nullify Tenant’s
termination of this Lease if Landlord causes the Premises to be ready for construction of Tenant Improvements within thirty (30) days after receipt of Tenant’s notice of termination. 

2.1.3 Confirmation of Dates. Upon Landlord’s request, Tenant shall execute a certificate in the form attached hereto as Exhibit
D or any other reasonable form requested by Landlord confirming the date on which the Premises are ready for construction of Tenant Improvements, Commencement Date and certain other information pertaining to this Lease. 

2.2 Options to Extend. Tenant shall have the right (each an “Extension Option”) to extend the Term for two
(2) consecutive periods of five (5) years (each an “Extension Period”) on the following terms and conditions. If Tenant wishes to exercise an Extension Option it shall give Landlord written notice (the “Election
Notice”) no later than twelve (12) months prior to commencement of the Extension Period. Time is of the essence and late notice shall not be effective. The Election Notice shall be irrevocable. 

2.2.1 Size of Premises During Extension. Tenant may elect to extend for less than all of the Premises provided that the Premises during
each Extension Period shall consist of contiguous full floors and the Rentable Area of the Premises during the Extension Period may not be less than seventy-five percent (75%) of the Rentable Area of the Premises at the end of the Initial Term.
The Election Notice must specify which floors will be included in the Premises during the Extension Period and if the Election Notice does not so specify then the Term will be extended for the entire Premises. If Tenant does not extend the Term for
the entire Premises, Tenant must vacate and surrender possession of the balance of the Premises in the condition required under Section 15.1 by the last day of the Initial Term or the first Extension Period (as applicable) and if it does
not vacate in a timely manner, the terms of Sections 15.1 and 15.2 will apply to the space. 

  
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 2.2.2 Conditions. If (a) a default is outstanding at the time the Extension Option is
exercised and/or at the time the Extension Period is to commence; or (b) two (2) or more Events of Default have occurred during the twelve (12) month period immediately preceding delivery of the Election Notice, even if the Event of
Default was subsequently cured, Landlord shall not be required to give effect to Tenant’s Election Notice. If the above conditions are satisfied with respect to the exercise of the Extension Option or if Landlord elects in its discretion to
recognize the Election Notice even though the conditions are not satisfied, then the Term shall be extended on the same legal terms and conditions contained in this Lease except that Base Rent for the Extension Period shall be determined under
Section 3.2 below and the Extension Option thus exercised may not be exercised again. Tenant may not exercise the second Extension Option unless the first Extension Option was validly exercised. 

2.3 Term. For the purposes of this Lease, the word “Term” shall mean the initial period specified in the Lease Summary
(the “Initial Term”) commencing on the Commencement Date and, if Tenant validly exercises an Extension Option, shall include the Extension Period. For purpose of calculating the Term and the dates for rental adjustments, if the
Commencement Date is not the first day of a calendar month, the first year (or twelve (12) month period) of the Term shall include the partial month in which the Commencement Date occurs and the next twelve (12) full calendar months so
that the rent adjustments occur on the first day of a calendar month and the Term ends on the last day of a calendar month. Thereafter, each year (or twelve (12) month period) shall mean the succeeding twelve (12) month period. 

2.4 Early Termination Option. Provided that (a) Tenant has not leased any Offer Space, (b) no Event of Default is outstanding
at the time of the Termination Notice, and (c) no portion of the Premises has been subleased for a term extending beyond the Early Termination Date, Tenant shall have the right to terminate this Lease in its entirety effective as of
December 31, 2022 (the “Early Termination Date”), on the terms and conditions set forth in this Section (the “Early Termination Right”). In order to exercise the Early Termination Right, by no later than
December 31, 2021, Tenant must (i) deliver to Landlord an irrevocable written notice clearly exercising the Early Termination Right (the “Termination Notice”), and (ii) pay Landlord a fee in the amount calculated
pursuant to Exhibit E (the “Termination Fee”), and (iii) if the Additional Advance is advanced under Exhibit C, pay Landlord the entire outstanding balance of the Additional Advance including all principal and
interest accrued through the payment date. Upon request from Tenant any time after November 1, 2021, Landlord will provide an estimated calculation of the Termination Fee. Tenant shall pay the amount set forth in such estimate when it delivers
the Termination Notice and when the actual amount of the Termination Fee is calculated, any overpayment shall be credited or refunded back to Tenant or Tenant shall make an additional payment, as applicable. Time is of the essence of this provision
and neither late notice nor late payment shall be effective. If Tenant does not deliver a Termination Notice and the Termination Fee by the above deadline, Tenant’s Early Termination Right shall immediately terminate and shall be of no further
force or effect. Tenant acknowledges that this provision was specifically negotiated by the parties and is a material term of this Lease and Tenant hereby waives all equitable claims and defenses that might extend the period within which Tenant may
exercise the Early Termination Right or pay the Termination Fee. If Tenant does not pay all 

  
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sums due under this Lease in a timely manner any time after delivering a Termination Notice, then in addition to any other remedies available to Landlord, Landlord shall, in its sole discretion,
have the right to void the Termination Notice and the Early Termination Right shall not take effect. If Tenant exercises its Early Termination Right, the Extension Options and the Right of First Opportunity shall immediately terminate and shall be
of no further force and effect. 
 3. RENT 

3.1 Base Rent. Tenant shall pay to Landlord the Base Rent specified in the Lease Summary (“Base Rent”). Annual Base
Rent shall be payable in equal monthly installments, on or before the first day of each month of the Term beginning on the Commencement Date. The monthly installment of Base Rent for any partial month shall be prorated based upon the actual number
of days in that partial month. 
 3.2 Base Rent for Offer Space and Extension Periods. If Tenant leases any Offer Space and objects to
the Base Rent set out in the Availability Notice, Base Rent for the Offer Space for the remainder of the then-current Term shall be the Market Rent for the Offer Space. If Tenant exercises an Extension Option, Base Rent for the Extension Period
shall be the Market Rent for the Premises during the Extension Period. 
 3.2.1 “Market Rent” means the prevailing
market rental rate, including any periodic increases, that a willing tenant would pay and a willing landlord would accept in an arm’s length bona fide negotiation for a direct lease of space of comparable quality, design and permitted use,
located in the South Lake Union submarket in Seattle, Washington, and having an amount of space comparable to the amount then leased by Tenant, a comparable term, and taking into consideration all other relevant factors including the extent of
service provided or to be provided, the means of reimbursing Landlord for operating costs, and the time the particular rate under consideration became or is to become effective. Comparable transactions in which the rent for a renewal was discounted
to a rate below the fair market rate shall be adjusted to reflect the fair market rate before the discount was applied. Transactions in which the renewal or expansion rent was established more than a year before the first day of the Extension Period
or the date of the Acceptance Notice (as applicable) shall not be considered in establishing Market Rent. Sublease and expansion transactions shall not be considered in establishing Market Rent. Landlord cannot be compelled to pay any concessions or
allowances to Tenant but market rate quantifiable cash concessions and allowances for renewals of second generation space may be considered in establishing Market Rent. For purposes of determining comparable quality and design, the Premises shall be
considered in its then “as is” condition, it being the intent of Landlord and Tenant that the Base Rent for the Extension Period shall be the same as for comparable premises with improvements that have been customized for the occupant.
Market Rent shall include annual increases, if and to the extent commensurate with then market conditions. 
 3.2.2 If Tenant
exercises an Extension Option, each party shall provide to the other party its written opinion of Market Rent approximately ten (10) months before the first day of the Extension Period. If Landlord and Tenant do not come to a mutually agreed
upon Base Rent within thirty (30) days after the parties exchange such written opinions, Market Rent shall be determined as provided in Section 3.2.3 below. 

  
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 3.2.3 Within ten (10) days after expiration of the thirty (30) day negotiating
period, each party, at its own cost and by giving notice to the other party, shall appoint a real estate broker with substantial experience in office leasing in the South Lake Union submarket or an appraiser with at least ten (10) years
full-time commercial real estate experience in Seattle, Washington, to determine Market Rent. Each party shall advise the other in writing of the name and address of the advising party’s representative within said ten (10) day period. If a
party does not appoint a representative within ten (10) days after the other party has given written notice of the name of its representative, the single representative appointed shall be the sole representative and shall set the Market Rent.
If each party appoints a representative, the two representatives shall meet promptly and attempt to establish Market Rent (including annual increases). If the two representatives are unable to agree within thirty (30) days after the second
representative has been appointed (the “Determination Period”), Market Rent shall be determined using the following procedures. 

(a) The two representatives shall attempt to select a third broker or appraiser (the “Arbiter”) who meets the
qualifications provided herein within ten (10) days after the last day of the Determination Period. If the two representatives are unable to agree on the Arbiter within such ten (10) day period, either of the parties to this Lease, by
giving five (5) days’ notice to the other party, may apply to the then presiding judge of the Superior Court of King County for the selection of a third broker or appraiser meeting the qualifications stated herein. In any event, the
Arbiter, however selected, shall be a person who has not previously acted in any capacity for either party. Within ten (10) days after the appointment of the Arbiter, each party or its representative shall submit its final schedule of Market
Rent (including annual increases if any) to the Arbiter who shall provide a copy to the other party only after both submissions are received. If Landlord elects not to pay concessions or allowances in a lump sum, the value of market rate concessions
and allowances shall be factored into the Market Rent and each party’s proposal shall identify their proposed concessions and the method of factoring the concessions into the schedule of Market Rent. Each party may submit supporting evidence
that it deems relevant to the fair market rent analysis, but excluding any prior negotiations with the other party. The Arbiter shall consider all written materials submitted and may, in the presence of both parties, request additional information
be submitted in writing but shall not hold a hearing or take oral testimony. 
 (b) Within thirty (30) days after the selection
of the Arbiter, he or she shall set the Market Rent for the Extension Period or the Offer Space, as applicable. The Arbiter shall select the proposed rent schedule that most closely approximates his or her determination of Market Rent. The Arbiter
shall have no right to propose a middle ground or any modification of either of the proposed rent schedule. The rent schedule he or she chooses as most closely approximating his or her determination of Market Rent shall be final and binding upon the
parties. 
 (c) Each of the parties shall bear all of the costs and expenses of its representative together with one-half
(1/2) of the costs of the Arbiter. If Base Rent has not been finalized prior to the first day of the Extension Period or by the date on which the Offer Space is 

  
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delivered to Tenant, until Base Rent is determined Tenant will pay Base Rent at the rate then in effect for the Premises until Base Rent is determined. The amount of the new Base Rent and all
other charges payable hereunder for the Extension Period will be applied retroactively to the beginning of the Extension Period, and any adjustment will be made with the next installment of Base Rent due, after Base Rent is determined. Landlord and
Tenant shall within thirty (30) days after the determination of the Market Rent, execute an amendment to this Lease, documenting the new termination date and the Base Rent for the Extension Period (or Offer Space if applicable). 

3.3 Operating Costs. In addition to Base Rent, Tenant shall pay Tenant’s Share of Operating Costs on a monthly basis in estimated
payments on or before the first of each month. Operating Costs shall be prorated for partial calendar years. 
 3.3.1 Calculation of
Tenant’s Share. “Tenant’s Share” shall be computed by dividing the Premises Rentable Area by the Building Rentable Area, as modified from time to time. As used in this Lease, the term “Rentable Area”
shall mean the square footage of space calculated using the “Office Buildings: Standard Methods of Measurement” Legacy Method A adopted by BOMA International (ANSI/BOMA Z65.1 – 2010). Notwithstanding the estimates shown in the Lease
Summary, Landlord shall calculate the “Premises Rentable Area” and “Building Rentable Area” and the Tenant’s Share upon completion of construction and shall provide the calculations to Tenant. Tenant
acknowledges that the Premises Rentable Area includes an allocation of Common Areas and that the allocation and Tenant’s Share may change from time to time. Tenant’s Share shall be increased or decreased based on the Rentable Area of the
Premises from time to time. The Premises are part of a mixed use building and Landlord may, in its reasonable discretion, equitably allocate responsibility for payment of specific expenses among individual tenants or categories of tenants benefited
by such expenses and may designate separate Common Areas or cost pools for retail, office and restaurant users, which may affect the amount of Operating Costs paid by Tenant. 

3.3.2 Operating Costs Definition. “Operating Costs” shall mean all costs, expenses and other charges incurred by
Landlord in connection with the ownership, operation, repair and maintenance of the Property, the Building and the Premises, and performing Landlord’s obligations under this Lease, including but not limited to: 

(a) All supplies, materials, and rental equipment used in the operation, repair and maintenance of the Building and the Property in a
manner commensurate with the operation of a Class A office project in Seattle, Washington; 
 (b) Costs of water, sewer, trash,
recycling, power, gas and electricity, and of heating, cooling, lighting, and ventilating the Building, except that if electric service to the Premises is measured by submeter or checkmeter and paid by Tenant based on the meter readings, Operating
Costs shall include only the cost of electrical service to the Common Areas of the Building and to Building systems; 
 (c) Costs of
maintenance, repair, depreciation and replacement of machinery, tools and equipment (if owned by Landlord) and for rent paid for such machinery, tools and equipment (if rented) used in connection with the operation, repair or maintenance of

  
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the Building or the Property; provided that any replacements of a capital nature shall be amortized over the useful life of the applicable replacement item and the annual amortization amount
(together with interest equal to the Prime Rate as published by the Wall Street Journal as of the last day the month in which the first payment of such cost was made by Landlord plus two and one half percent [2.5%]) shall be included in Operating
Costs for each calendar year within the Term; 
 (d) All premiums and deductibles on insurance policies including but not limited to
liability, property damage (including flood, earthquake and terrorism), automobile, rental loss and any other policies of insurance maintained by Landlord, in its discretion, with respect to the Property, Building or any insurable interest therein
or Landlord’s personal property used in connection therewith; 
 (e) Costs of janitorial and courtesy patrol services,
landscaping services, repairs and general maintenance; 
 (f) Cost of any capital improvements or replacements (i) made or
installed for purposes of saving labor or otherwise reducing Operating Costs or to comply with state or city energy requirements applicable to the Building, (ii) required by applicable Laws, or (iii) incurred to replace items that Landlord
repairs or maintains (all capital improvements under this subparagraph are referred to as “Permitted Capital Items”). Permitted Capital Items shall not include replacement of the foundation, structural elements of the Building, the
roof structure, or portions of the exterior enclosure of the Building other than glass. Permitted Capital Items shall be amortized over the useful life of such improvements, as determined by Landlord in accordance with generally accepted accounting
principles and practices in effect at the time of acquisition of the Permitted Capital Item and the annual amortization amount (together with interest equal to the Prime Rate as published by the Wall Street Journal as of the last day the month in
which the first payment of such cost was made by Landlord plus two and one half percent [2.5%]) shall be included in Operating Costs for each calendar year within the Term; 

(g) Real and personal property taxes, assessments, local improvement or special benefit district charges and other governmental
charges, special and general, known and unknown, foreseen and unforeseen, of every kind and nature whatsoever (i) attributable to or levied or assessed against the Property or the Building, or any portion thereof, or interest therein;
(ii) attributable to or levied upon Landlord’s personal property located in, or used in connection with the Building; (iii) surcharges and all local improvement or special benefit and other assessments levied with respect to the
Property, and all other property of Landlord used in connection with the operation of the Building; (iv) any taxes levied or assessed in lieu of, in whole or in part, or in addition to any real or personal property taxes in effect and applied
to Landlord upon the date hereof including, but not limited to, leasehold taxes, business and occupation taxes and taxes or license fees upon or measured by the leasing of the Building or the rents or other income collected therefrom; (v) any
and all costs, expenses and attorneys’ fees paid or incurred by Landlord in connection with any proceeding or action to contest in whole or in part, formally or informally, the imposition, collection or validity of any of the foregoing taxes,
assessments, charges or fees (collectively, “Real Property Taxes”). If under any applicable Law any Real Property Taxes may be paid in installments at the option of the taxpayer, then Landlord shall include within Real Property
Taxes for any calendar year only 

  
 13 

 
those installments (including interest, if any) which would become due by exercise of such option. Real Property Taxes shall not include (A) transfer, inheritance or estate taxes imposed
upon or assessed against the Property, or (B) federal income taxes computed upon the basis of the Landlord’s net income; 

(h) To the extent directly related to services provided to the Building, compensation (including wages and benefits) of employees and
contractors engaged in the operation and maintenance of the Property and/or the Building; employer’s Social Security taxes, unemployment taxes or insurance, and any other taxes which may be levied against Landlord on those wages and salaries,
and the cost of disability, accidental death, medical and hospitalization insurance and pension, retirement or other employee fringe benefits; 

(i) Accounting, legal and other professional fees incurred in connection with the operation of the Property and/or the Building,
excluding professional fees arising from disputes with tenants, or arising out of or in connection with the original construction of the Building; and provided further that any refund of fees previously included in Operating Costs shall be deducted
from Operating Costs in the year received; 
 (j) Cost of replacing lamps, bulbs, starters and ballasts used in the Building or
Premises, other than those for which the cost is billed directly to a tenant; and 
 (k) A property management fee, not to exceed 3%
of gross rents which may be payable to Landlord or a third-party property manager, and any expenses associated with operating and maintaining an on-site management office (including fair market rental value for any rentable space devoted to such
use). 
 Notwithstanding the foregoing, Operating Costs shall not include: costs of operating the Garage such as a garage attendant or fees
to a garage operator (but utilities, repairs, maintenance and taxes shall be included in Operating Costs); expenses for which Landlord is reimbursed outside of Operating Costs; expenses incurred in leasing or procuring tenants (including, without
limitation, marketing costs, lease commissions, legal expenses, and expenses of renovating space for tenants); legal expenses arising out of disputes with tenants or the enforcement of the provisions of any lease of space in the Building; interest
or amortization payments on any mortgage or other loan secured by the Property; rent under any ground or underlying lease; costs of any work or service performed for or facilities furnished to any particular tenant or group of tenants, and not
available to all tenants as part of Basic Services; costs of capital improvements and depreciation and amortization (except as otherwise provided in Subsections 3.3.2(c) and (f) above); amounts paid to subsidiaries or affiliates
of Landlord except to the extent that the cost of the subject services, supplies or materials do not exceed the cost that would have been provided by unaffiliated parties on a competitive basis for a comparable level and quality of service; costs of
design or construction of the Base Building or repairs of design or construction defects therein (provided that no repairs shall be considered design or construction defects after the first seven (7) years of the Initial Term); except for any
commercially reasonable deductible or self insured retention, the cost of repairs or other work (including rebuilding) occasioned by fire, windstorm or other casualty or condemnation; interest and penalties for late payment of taxes; expenses for
which the Landlord is or will be reimbursed by another source including (without limitation) amounts reimbursed pursuant to a warranty or insurance; contributions for political or charitable 

  
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or other special interest purposes, including (without limitation) lobbying; structural repairs and replacements; the costs of initial stock of tools and equipment for the operation, maintenance
or repair of the Building; or costs that duplicative of any other charges included in Operating Costs. 
 3.3.3 Adjustment. For
purposes of calculating Operating Costs for any period in which the Building is less than one hundred percent (100%) occupied or if all tenants do not receive the same services, an adjustment may be made in computing Operating Costs for such
period so that Operating Costs are computed as though the Building had been one hundred percent (100%) occupied and all tenants provided with the same services during such period so that Tenant pays the amount it would have paid had the
Building been so occupied. This adjustment shall apply only to Operating Costs that vary with occupancy or service level. The foregoing adjustment shall not apply to Taxes. 

3.3.4 Estimates. Prior to the Commencement Date, Landlord shall provide Tenant with an estimate of Tenant’s Share of Operating
Costs for the first partial calendar year. Within a reasonable period of time after the end of each calendar year, Landlord shall provide Tenant with a statement showing the actual Operating Costs incurred during the prior calendar year and an
estimate of Operating Costs for the then current calendar year. Tenant shall pay to Landlord, monthly in advance, one-twelfth (1/12) of Landlord’s estimate of Tenant’s Share of Operating Costs for each calendar year. Landlord may from
time to time during any calendar year update its estimate of Operating Costs (and its estimate of Tenant’s Share of Operating Costs) based on anticipated changes in costs and expenses in which case Tenant shall make its estimated payments in
accordance with the revised estimate. 
 3.3.5 Reconciliation. Within a reasonable period of time after the end of each calendar year,
Landlord shall provide Tenant with a written statement of the actual Operating Costs for that calendar year (the “Reconciliation Statement”). If the actual Operating Costs exceed the estimated amount paid by Tenant with respect to
such calendar year, then Tenant shall pay Landlord the additional amount due to Landlord within thirty (30) days of receipt of the Reconciliation Statement and, if actual Operating Costs are less than the estimated Operating Costs for that
calendar year, then Landlord shall credit against future Additional Rent, the amount of any overpayment by Tenant. Landlord’s determination of Operating Costs for any calendar year shall be deemed final and binding on Tenant unless Tenant
timely exercises its rights under Section 3.3.7 below with respect to that Reconciliation Statement. 
 3.3.6 Cap On
Controllable Operating Costs. Notwithstanding anything to the contrary contained herein, Tenant’s Share of Controllable Operating Costs during the Initial Term and each Extension Period shall not increase by more than five percent
(5%) per year on a cumulative, compounding basis over the then-expired portion of the Initial Term or the applicable Extension Period (with the cap resetting on the first day of each Extension Period). “Controllable Operating
Costs” shall mean expenses for which Landlord, acting individually, has the ability to control the timing and the price paid through bidding or other procedures. Controllable Operating Costs shall not include Real Property Taxes or any
other taxes and assessments, government imposed charges, utility charges, insurance premiums or deductibles, payments that do not recur each year (such as, but not limited to, snow and ice removal), the cost of any contract the price of which is
dependent on union labor, management fees that are stated as a percentage of revenue, or amortization of capital items permitted hereunder. 

  
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 3.3.7 Tenant’s Inspection and Audit Rights. If Tenant is not in default under this
Lease, Tenant (but not any subtenant or assignee except for a Permitted Transferee who has assumed all of Tenant’s obligations under this Lease), at its sole cost and expense may audit Landlord’s records relating to Operating Costs for the
year covered by any Reconciliation Statement. The audit shall be limited solely to confirming that the Operating Costs charged to Tenant are consistent with the terms of this Lease. The audit must be performed by a nationally or regionally
recognized certified public accountant reasonably acceptable to Landlord and no portion of the auditor’s compensation shall be based directly or indirectly upon a percentage of the savings found or the results of the audit. Tenant must deliver
written notice to Landlord of the dispute within one hundred twenty (120) days after Landlord’s delivery of the Reconciliation Statement. The audit shall take place during regular business hours at a time reasonably acceptable to Landlord
at the office where Landlord or its property manager maintains the applicable records, but the Landlord shall promptly on request furnish the auditor with electronic copies of any records requested by the auditor (provided that the auditor agrees to
destroy such electronic records upon completion of the audit). Tenant’s objection to Landlord’s determination of Operating Costs shall be deemed withdrawn unless Tenant completes the audit within one hundred twenty (120) days after
the date Tenant delivers its dispute notice to Landlord, provided that such period shall be extended on a day for day basis if Landlord delays in providing access to the records necessary to complete the audit. Landlord shall have a reasonable
opportunity to meet with Tenant’s auditor to explain its calculation of Operating Costs. If Tenant’s auditor believes that it has found errors or overcharges, Tenant shall provide a full and complete copy of the audit to Landlord and shall
advise Landlord in writing of the claimed errors and overcharges with specific reference to the relevant Lease provisions disqualifying such expenses. If Landlord and the auditor do not agree on proper treatment of the contested costs, Landlord
shall engage its own auditor to review the findings of Tenant’s auditor and Landlord’s books and records. The two (2) auditors and the parties shall then meet to resolve any difference between the audits. If the parties have not
reached agreement within two (2) weeks thereafter, then the auditors shall together select a third auditor (who is not affiliated with and who does not perform services for either party or their affiliates) to whom they shall each promptly
submit their explanations of the basis of their opinion. Within two (2) weeks after receipt of such explanations, the third auditor shall determine the final treatment of the contested items which shall be binding on both parties. The cost of
the third auditor shall be split between the parties. The auditor shall not have the authority to review any other items of Operating Costs. If the final audit results show that the amount Landlord charged Tenant was greater than the amount Tenant
is obligated to pay, Landlord will credit the overpayment to the next Rent due under this Lease or shall refund the excess to Tenant if this Lease has terminated. If the audit shows that the amount Landlord charged Tenant for Operating Costs was
less than the amount Tenant is obligated to pay, Tenant will pay to Landlord the difference between the amount Tenant paid and the amount determined in the audit within thirty (30) days after it receives the final audit results. Pending
resolution of any audit under this Section, Tenant will continue to pay to Landlord the estimated amounts of Tenant’s Share of Operating Costs as billed by Landlord. Tenant and Tenant’s auditors and accountants will keep all information
obtained in any audit strictly confidential and may only use such information for the limited purpose this Section describes and for Tenant’s own account. 

  
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 3.4 Rent. As used in this Lease, the term “Additional Rent,” shall mean
Tenant’s Share of Operating Costs under Section 3.3 and any other sums described in this Lease as Additional Rent. The term “Rent” as used in this Lease shall include all amounts to be paid hereunder by Tenant
whether or not those sums are designated as Base Rent or Additional Rent. Failure by Tenant to pay any sum due under this Lease shall entitle Landlord to pursue any or all remedies specified in this Lease, as well as those remedies specified in RCW
Chapter 59.12 or otherwise allowed by law or in equity. 
 3.5 Place of Payment. Except as otherwise specified in this Lease, all Rent
shall be paid to Landlord on or before the first day of each calendar month at the address set forth in the Lease Summary to which payments are to be made (as the same may be changed by written notice from Landlord to Tenant). Landlord may designate
any other manner or method of paying Rent in its reasonable discretion provided that Landlord must provide written notice of any changes to Tenant. All Rent payments shall be made without deduction, setoff, prior notice or demand by Landlord, except
as expressly provided in this Lease. Landlord may accept and apply any payment made by Tenant to any sums then due under this Lease and shall not be bound by any notations or instructions contained on any payment, check, draft, or other order to
pay, or on vouchers, letters, memoranda, or statements attached to or accompanying such payment. Landlord’s acceptance of any partial payment of Rent shall not waive Landlord’s rights with regard to the remaining portion of the Rent that
is due, regardless of any endorsement or other statement on any instrument delivered in payment of Rent or any writing delivered in connection therewith and Landlord’s acceptance of a partial payment of Rent shall not constitute an accord and
satisfaction of the full amount of the Rent that is due. 
 3.6 Late Charges; Interest. Tenant acknowledges that late payment by
Tenant to Landlord of any Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, and the exact amount of the costs include, but are not limited to, processing and accounting charges, and late charges which may be
imposed upon Landlord by the terms of any mortgage or deed of trust covering the Premises. If Tenant fails to pay any Rent within five (5) days after such payment is due, Tenant shall pay to Landlord, as Additional Rent, a late charge equal to
five percent (5%) of such late payment or the sum of $250.00, whichever is greater. A $50.00 charge will be paid by the Tenant to the Landlord for each returned check and if more than two checks are returned for nonpayment, Landlord may require
Tenant to thereafter pay sums due hereunder by wire transfer or by certified or cashier’s check. In addition, for any sum not paid within five (5) days after the due date, Tenant shall pay Landlord interest on the unpaid balance at an
annual interest rate equal to the prime rate of interest published in the Wall Street Journal or another comparable publication selected by Landlord plus eight percent (8%) (the “Default Rate”) from the due date until paid in
full. If the Default Rate is higher than the maximum commercial interest rate permitted by applicable Law, the Default Rate shall be decreased to the maximum commercial interest rate permitted by applicable Law. If Landlord pays any sum or incurs an
expense on behalf of Tenant or as a result of any Tenant default, such sums shall bear interest at the Default Rate from the date of Landlord’s expenditure until Tenant has repaid the amount to Landlord. 

3.7 Sales Tax Deferral. 

3.7.1 Application. Retail sales tax otherwise applicable to portions of construction of the Tenant Improvements may be eligible for
deferral pursuant to RCW 82.63 (the “Sales Tax Deferral”) as a result of uses of the Premises intended by Tenant. If Tenant elects to seek the Sales Tax Deferral, Landlord will reasonably cooperate with Tenant’s 

  
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application for the same at Tenant’s sole cost and expense and Landlord shall, as part of such application, state that the economic benefit of such Sales Tax Deferral shall accrue solely to
Tenant. If the retail sales tax for the eligible work is deferred, and if, for any reason, any part of the retail sales tax so deferred is subsequently required to be repaid, Tenant shall promptly pay the same, together with any interest, penalties,
or other charges that are or become due in connection therewith. Tenant shall prepare and file the annual surveys required by the Washington Department of Revenue’s regulations, including reporting the nature of Tenant’s use of the
Premises and the extent to which such use does not qualify for the Sales Tax Deferral. Tenant shall provide Landlord with a copy of all such reports and other documents exchanged with the Washington Department of Revenue regarding the Sales Tax
Deferral. Tenant shall pay any tax resulting from any non-qualifying use. 
 3.7.2 Challenges. Landlord will reasonably cooperate with
and assist Tenant, at Tenant’s sole cost and expense, in any challenges or audits to the Sales Tax Deferral benefit. In any contest regarding the Sales Tax Deferral benefit, Tenant shall be the sole contact with the Washington Department of
Revenue. Tenant shall have the right to contest or review any proceedings regarding the Sales Tax Deferral benefit, which may be instituted either during or after the Term of this Lease. Landlord will, within a reasonable time after receipt of
Tenant’s written request, execute all reasonably necessary instruments in connection with any such protest, appeal or other proceedings. Tenant shall provide Landlord with copies of all written documents pertaining to any such challenge, audit,
contest, appeal, or other proceedings. Tenant shall be entitled to any resulting refund obtained by reason of any such proceeding or otherwise, whether obtained during or after the expiration of the Term and whether obtained by Landlord or Tenant.
All of Landlord’s acts, and the acts of Landlord’s consultants, attorneys and agents, under this section for the purpose of preserving for Tenant the Sales Tax Deferral shall be at Tenant’s sole cost and expense and Tenant shall
promptly reimburse Landlord for any such costs, including, without limitation, reimbursement to Landlord for the time spent by their direct employees for such purpose. 

3.7.3 Limited Landlord Obligation. Landlord shall have no obligations whatsoever to undertake any actions to establish or maintain the
Sales Tax Deferral other than the reasonable cooperation obligations set forth in this Section 3.7. Tenant acknowledges that Landlord has not warranted that the Sales Tax Deferral will be available and this Lease shall be binding even if
the Tenant does not receive the Sales Tax Deferral. 
 4. LEASE SECURITY 

4.1 Security Deposit. Tenant shall pay to Landlord the sum set forth as the Security Deposit in the Lease Summary as security for the
full and faithful performance of this Lease by Tenant (the “Security Deposit”). Tenant shall pay the Security Deposit to Landlord in two separate increments each of which shall be for one half of the Security Deposit. The first half
of the Security Deposit shall be delivered to Landlord within thirty (30) days after the date of this Lease and the second half of the Security Deposit shall be delivered to Landlord before construction begins on the Tenant Improvements under
Exhibit C. If Tenant does not deliver the full Security Deposit to Landlord when due, Landlord may, in its sole discretion, elect to delay construction of the Tenant Improvements until the full Security Deposit has been received (in which
case any delay in completion shall be Tenant Delay) or Landlord may withhold the unpaid amount from the Allowance until the full Security Deposit has been received. 

  
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 4.2 Letter of Credit. Tenant may elect to post an irrevocable standby letter of credit
(the “Letter of Credit”) in lieu of a cash security deposit provided that (a) the Letter of Credit must be issued by Silicon Valley Bank or another financial institution reasonably approved in advance by Landlord, (b) the
Letter of Credit must be on a form reasonably approved in advance by Landlord, (c) draw requests must be presentable electronically or at an office in the greater Seattle Metropolitan area, (d) the Letter of Credit must have a final
expiration date no earlier than sixty (60) days after the last day of the Term and if not for a fixed term must automatically renew each year unless at least sixty (60) days prior to its expiration date the issuing bank notifies Landlord
in writing that the Letter of Credit will not be renewed, and (e) the only condition to payment of a draw on the Letter of Credit shall be presentation of a draw request stating that Landlord is entitled to draw on the Letter of Credit. Tenant
must reimburse Landlord for all costs incurred by Landlord in connection with the Letter of Credit. Landlord may draw on the Letter of Credit in whole or in part upon the occurrence of any default by Tenant under this Lease, without notice to
Tenant. 
 4.3 Reduction Based on Adjusted EBITDA. If Tenant’s audited financial statements demonstrate that Tenant’s
Adjusted EBITDA in each of any three consecutive fiscal years commencing on or after fiscal year 2013 are greater than one hundred fifty percent (150%) of the total of annualized Base Rent and Operating Costs payable by Tenant under this Lease
in each of the three fiscal years, then the amount of the Security Deposit or the Letter of Credit, as applicable, shall be reduced to an amount equal to Base Rent and estimated Operating Costs payable by Tenant under this Lease for the final month
of the Term (the “Reduced Deposit”). As used herein, “Adjusted EBITDA” means a calculation from audited financials prepared in accordance with generally accepted accounting principles consistently applied
representing earnings before interest, taxes, depreciation & amortization, where (a) earnings is the net income (loss) on the income statement, (b) Interest is the interest income (expense) on the income statement, (c) taxes
is the income tax expense on the income statement, and (d) depreciation & amortization is the depreciation and amortization of intangible assets on the cash flow statement. In calculating Adjusted EBITDA, stock-based compensation shown
on the cash flow statement shall not be treated as an expense or otherwise deducted in the calculation. If the foregoing condition is met then Tenant shall deliver to Landlord cash in the amount of the Reduced Deposit or a new Letter of Credit in
the amount of the Reduced Deposit and upon receipt thereof Landlord shall return the Letter of Credit to Tenant or shall cancel the Letter of Credit pursuant to the issuing bank’s cancellation procedures. 

4.4 Annual Reductions. Provided Tenant is not in default under this Lease and has not been in default more than once in any twelve
(12) month period at any time during the Term, the amount of the Security Deposit (or the Letter of Credit, as applicable) may be reduced on each anniversary of the Commencement Date by the sum of Ninety Thousand Dollars ($90,000) plus the
amount of all principal payments made by Tenant toward the Additional Advance during the prior year. If the foregoing conditions have been satisfied, Landlord shall either (a) if the deposit is a cash deposit, apply the annual reduction against
Rent, or (b) execute an amendment to the Letter of Credit in form and substance satisfactory to Landlord and the issuing bank reducing the amount of the Letter of Credit. In no event shall the Security Deposit or the Letter of Credit be reduced
below the amount of the Reduced Deposit. 

  
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 4.5 Use of Deposit. If Tenant defaults under any provision of this Lease, including but
not limited to the provisions relating to the payment of Rent, Landlord may use, apply or retain all or any part of the Security Deposit (or draw on the Letter of Credit as applicable) to be applied to the unpaid Rent, for the payment of any amount
which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is
so used or applied or Landlord draws on the Letter of Credit, Tenant shall, within ten (10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount or shall
provide a new letter of credit for the required amount and Tenant’s failure to do so shall be a material breach of this Lease. Landlord shall not be required to keep Tenant’s Security Deposit or any Letter of Credit proceeds separate from
its general funds, and Tenant shall not be entitled to interest on the Security Deposit or Letter of Credit proceeds. If Tenant fully and faithfully performs its obligations under this Lease, the Security Deposit or any balance thereof shall be
returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within a reasonable period of time after the expiration of the Term and final determination of any sums due hereunder. 

4.6 Prepaid Rent. Contemporaneously with Tenant’s execution of this Lease, Tenant shall pay to Landlord the sum set forth as
Prepaid Rent in the Lease Summary (the “Prepaid Rent”), which shall be applied to Base Rent for the month(s) specified in the Lease Summary. If Tenant defaults under the terms of this Lease prior to the application of the Prepaid
Rent, such sums shall not be applied as prepaid rent but shall be held and added to the Security Deposit. 
 5. BUSINESS PURPOSE AND USE 

5.1 Permitted Uses. Tenant shall use the Premises solely for general office use consistent with a Class A office building including
ancillary use for a research and development lab and quality assurance testing relating to radio-frequency identification technologies, shipping & receiving and any other lawful office-related purpose in keeping with the class and character
of a first class downtown office building, and for no other business or purpose without the prior written consent of Landlord. The Storage Premises shall be used for storage purposes only. The foregoing does not permit manufacturing or general
laboratory use including medical laboratory uses. Tenant may, at Tenant’s sole risk, store and use the materials listed below, and substitutes for the listed materials (reasonably approved by Landlord), to the extent the listed materials
becomes obsolete (the “Permitted Materials”) in the research and development lab and quality assurance testing portions of the Premises. 

Solvents: 
 Acetone –
maximum of 2 1-Qt. containers 
 Flux Remover: maximum of 6 10-oz. containers 

Isopropyl Alcohol: maximum of 6 16-oz. containers 

  
 20 

 Adhesives: 

RTV Silicon: maximum of 2 11-oz. containers 

General purpose Epoxy: maximum of 2 1-oz. containers 

Silver Epoxy: maximum of 3 2-oz. containers 

Thermal Adhesive: maximum of 2 1-oz. containers 

Other: 
 Thermal Compound:
maximum of 2 8-oz. containers 
 Freeze Mist: maximum of 6 12-oz. containers 

Compressed Air: 80 psi (1 small compressor) 

Vacuum Air: (3 small vacuum pumps) 

Static Mats on the floor in the lab work space 

Liquid Nitrogen 
 Dry Nitrogen

 All Permitted Materials must be kept in an approved chemical locker when not in use. Tenant may use Permitted Materials in the Premises
only if Tenant (a) provides adequate ventilation so that indoor air quality is not affected, (b) retains a licensed fire protection engineer approved by Landlord to prepare any necessary safety plans and procedures and abides by such plans
and procedures throughout the Term, (c) installs and maintains any fire protection systems or equipment deemed necessary by Landlord’s environmental consultant, and (d) complies with all applicable Laws, including all requirements of
the City of Seattle Fire Department, and best industry practices with respect to the storage, use and disposal of the Permitted Materials. Tenant may not use any Permitted Materials if such use would impact any other occupant of the Building. Tenant
shall provide Landlord with copies of any manuals, policies and procedures established by Tenant with respect to the use, storage and disposal of Permitted Materials. Tenant shall indemnify, defend and hold Landlord and all Indemnitees harmless from
all loss, damage, costs and expenses incurred in connection with the storage, use and disposal of the Permitted Materials in the Premises, including but not limited to claims of property damage, personal injury and adverse health effects. Tenant may
not store or use any other hazardous materials or use any processes that present a risk of injury to persons or property or require enhanced fire protection equipment or procedures. 

5.2 Sustainability. Tenant acknowledges that the Building will be developed and operated in a sustainable and resource efficient manner.
Tenant shall comply with all of Landlord’s sustainability practices and procedures as the same may change from time to time. Tenant acknowledges that Landlord has designed the Building to qualify for and intends to seek LEED Gold certification
and may apply for any other third-party rating system concerning the environmental compliance or sustainability of the Building or the Premises as the same may change from time to time (collectively, “Green Standards”). Provided it
can be done without material adverse operational or fiscal impact to Tenant, (i) Tenant shall use reasonable business efforts to comply with all requirements imposed on the Building from time to time as a result of or in connection with any
applicable Green Standard, and (ii) shall use reasonable efforts to avoid any action that could cause the Building to lose its certification or status under any applicable Green Standard. Tenant shall operate windows and use window coverings as
directed by Landlord to minimize heat gain or loss in the Building. Landlord shall be responsible for any reporting required under any certification or rating system and the cost shall be included in 

  
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Operating Costs. Tenant shall accurately respond to all requests from Landlord with respect to Tenant’s sustainability practices and as required to comply with or report on the Green
Standards or for Landlord to compile reports for any governmental agency or certifying body. Tenant shall comply with all Landlord requirements regarding the collection, sorting, separation, and recycling of garbage and recyclable materials.
Landlord may refuse to collect or accept from Tenant any waste that is not separated and sorted, and to require Tenant to arrange for such collection at Tenant’s sole cost and expense, utilizing a contractor satisfactory to Landlord. Tenant
acknowledges that these requirements are a material term of this Lease. Tenant shall reimburse Landlord upon demand for any damages, penalties or additional costs incurred by Landlord if Tenant fails to comply with the terms of this Section after
reasonable notice that Landlord believes that Tenant has breached this Section and has failed to cure such breach. 
 5.3 Prohibited
Uses. Tenant shall not do or permit anything to be done in or about the Premises, nor bring or keep anything in the Premises, which will: (a) increase the existing rate of or affect any policy of fire or other insurance upon the Building
and/or Property or any of its contents, or cause a cancellation of any insurance policy covering any part thereof or any of its contents; or (b) obstruct or interfere in any way with the rights of other tenants or occupants of the Building or
injure or unreasonably annoy any of them. Tenant shall not use or allow the Premises to be used for any improper, unlawful or objectionable purposes. Tenant shall not cause, maintain or permit any nuisance in, on or about the Premises, or allow
odors reasonably objectionable to other tenants to be released from the Premises, nor shall Tenant commit or suffer to be committed any waste in, on or about the Premises or the Property. Tenant shall not place upon or install in windows or other
openings in the Premises any signs, symbols, window coverings, or other material without written approval of Landlord. Tenant shall not place any object or barrier within, or otherwise obstruct, any of the Common Areas. 

5.4 Compliance With Laws. Tenant shall at all times comply with all laws, ordinances and any regulations promulgated by any governmental
authority (“Laws”) having jurisdiction over the Building and/or the Premises and with the requirements of any board of fire underwriters or other similar body now or hereafter constituted, to the extent that such matters relate to
the manner and method of Tenant’s use, construction, or operations within the Premises or improvements made by or on behalf of Tenant. Landlord shall use commercially reasonable efforts to maintain the Building in compliance with all applicable
Laws to the extent such matters relate to the Building generally as opposed to the operation of Tenant’s business or its use or improvement of the Premises. Landlord warrants that the Base Building will comply with Laws in effect and as applied
to the Base Building at the time of permitting. The judgment of any court of competent jurisdiction, the finding of any competent administrative body, or the admission of Tenant in any action against Tenant (whether or not Landlord is a party
thereto) that Tenant is in violation of any Applicable Law or any such requirement, order or directive now in force or which may hereafter be enacted or promulgated relating to or affecting the condition, use or occupancy of the Premises shall be
conclusive of such violation as between Landlord and Tenant, without prejudice to Landlord’s right to allege such a violation in the absence of such a judgment, finding or admission. If Landlord is required to institute a transportation
management plan or to maintain carpooling or public transit programs or commute trip reduction programs or any similar requirement, Tenant shall cooperate in the implementation and use of these programs by and among Tenant and Tenant’s
employees at Tenant’s expense. Tenant shall fully participate in the transportation management plan which, among other matters, 

  
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requires Tenant to provide an emergency ride home to certain employees who commute during morning rush hour and a transit subsidy to employees who work a minimum of twenty (20) hours a week
and commute during morning rush hour at least three times a week. 
 5.5 Americans With Disabilities Act. Notwithstanding any other
provision of this Lease to the contrary, Tenant shall, at its cost, comply with The Americans with Disabilities Act of 1990 as the same may be amended from time to time and all regulations issued thereunder and all similar state or local laws
(collectively, the “ADA”) within the Premises. Landlord shall comply with the ADA with respect to the Base Building and the Common Areas. If, as a result of Tenant’s use and occupancy of the Premises or any alterations, additions, or
improvements made by Tenant, any additions, alterations or improvements shall be required in any other part of the Building to comply with any requirements of the ADA, Tenant shall reimburse Landlord on demand, as Additional Rent, for all costs
incurred by Landlord to effect such compliance. 
 5.6 Odors and Noise. Tenant shall design its improvements and operate its business
so that odors, emissions, fumes and unreasonable amount of noise from the Premises are not detectible outside the Premises. If Landlord determines that Tenant is violating this clause, Tenant, at Tenant’s sole cost and expense, shall undertake
mitigating measures to bring its operations into compliance. The type and adequacy of such mitigating measures shall be determined by Landlord acting reasonably and communicated to Tenant by written notice. 

6. TENANT’S TAXES 
 Tenant shall pay
before delinquency all license fees, public charges, property taxes and assessments on the furniture, fixtures, Tenant Improvements, Alterations, equipment and other property owned or being used by Tenant at any time situated on or installed in the
Premises. To the extent that any such taxes are not separately assessed or billed to Tenant, Tenant shall pay the amount thereof as invoiced to Tenant by Landlord. Tenant shall pay before delinquency all taxes and assessments or license fees levied,
assessed or imposed by law or ordinance, by reason of the use of the Premises for the specific purposes set forth in this Lease and/or the operation of Tenant’s business within the Premises. 

7. PARKING 
 The Building includes a
subsurface parking garage (the “Garage”). Tenant shall purchase parking passes (the “Parking Passes”) equal to the number of parking passes set forth in the Lease Summary (the “Base Parking
Allocation” ). No later than the later of (a) July 1, 2016, or (b) 180 days following the Commencement Date, Tenant may reduce the Base Parking Allocation by written notice to Landlord to a ratio of Parking Passes per 1,000
feet of Rentable Area in the Premises deemed sufficient by Tenant. Parking Passes in excess of the Base Parking Allocation may be available from time to time on a month to month basis and Landlord shall maintain a waiting list for parking in the
Garage. Tenant’s Base Parking Allocation includes Tenant’s share (based on parking allocations in the Garage) of any carpool spaces, charging station parking spaces and spaces reserved for fuel efficient or low emission vehicles. Tenant
shall pay the monthly fee for each Parking Pass at the rate established by Landlord from time to time for the applicable type of permit for comparable users, plus any tax or assessment imposed by any governmental authority in connection with such
parking privileges. All parking fees shall 

  
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be payable in advance on the first day of the month together with the payment of Base Rent. Each Parking Pass shall entitle the holder to park a single vehicle to park in the Garage. Landlord
shall have exclusive control over the day-to-day operations of the Garage; provided that Landlord shall not oversell the parking to such an extent as to materially impair availability for Parking Pass holders. if the holders of its Parking Passes
cannot find any parking in the Garage Tenant shall notify Landlord promptly of the date and time of the problem so that Landlord may effectively manage the Garage. Landlord may designate spaces for short term parking and carpools and may create
charging station parking spaces and spaces reserved for fuel efficient or low emission vehicles. Unless the Lease Summary specifies that Tenant is entitled to reserved parking and Tenant pays an additional reserved parking fee, no specific spaces in
the Garage shall be assigned to Tenant. Landlord may make, modify and enforce reasonable rules and regulations relating to parking and Tenant shall abide by such rules and regulations and shall cause its employees and invitees to abide by such rules
and regulations. Landlord may use any reasonable means of identifying and controlling vehicles authorized to be parked in the Garage. Landlord may designate areas within the Garage for short term or guest parking only and Landlord may change such
designations from time to time. Landlord reserves the right to alter the configuration of parking spaces and driveways in the Garage. Landlord may make all or a portion of the parking spaces reserved or institute other measures, including but not
limited to valet, assisted or tandem parking, that Landlord determines are necessary or desirable to meet parking requirements. Landlord may operate the Garage or, in its discretion, may arrange for the Garage to be operated by a third party and the
operator shall be entitled to exercise any rights granted to Landlord under this Section. Upon request, Tenant will execute and deliver a parking agreement with the operator of the Garage on the operator’s standard form of agreement. If
Landlord hires a third party to operate the Garage then Landlord may direct that the monthly parking fees must be paid to such operator at such place as the operator may direct but the parking fees shall be considered Additional Rent hereunder.
Tenant shall participate in all programs run by Landlord or any governmental agency to reduce commute trips and to encourage its employees to use public transportation. 

8. SERVICES, REPAIRS, MAINTENANCE AND ALTERATIONS 

8.1 Building Services. So long as Tenant is occupying the Premises, Landlord shall provide the following services throughout the Term
(“Building Services”) in a manner consistent with a Class A office building and in accordance with any applicable Green Standard. 

8.1.1 HVAC. Landlord shall furnish heating, ventilation and cooling (“HVAC”) to the Premises 24-hours-a-day,
7-days-a-week, at such temperatures and in such amounts as are reasonably considered by Landlord to be standard for a customary density and office layout for the Building or as may be limited or controlled in time or amount by applicable Laws or the
Green Standards. HVAC service shall be subject to periodic maintenance, repair or other minor interruptions in service for safety or health reasons. HVAC and lighting shall be provided as part of Operating Costs from 7:00 a.m. until 6:00 p.m.,
Monday through Friday (excluding holidays regularly observed by comparable office buildings in the market) and on Saturday from 8:00 a.m. to 1:00 p.m. (“Building Hours”). HVAC and lighting will be available outside of Building Hours
through the Building’s automated web-based controls system. If Tenant requires HVAC or lighting during hours or on days not included in Building Hours, Tenant may activate such services through the Building’s web-based controls system. If
Tenant 

  
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activates such services Tenant shall pay Landlord its customary hourly charge for providing after-hours services which shall be based on Landlord’s reasonably estimated costs of providing
such services including Landlord’s reasonable allocation of the costs for electricity, natural gas, water, sewer, water treatment, labor, metering, filtration, equipment depreciation, wear and tear and repairs and maintenance to provide such
services. Landlord shall invoice Tenant on a monthly basis for the prior month’s consumption and the payment shall be due on the first day of the following month. If Tenant’s layout or particular use of the Premises requires modifications
to the Building’s HVAC system provided as part of the Base Building as described in Exhibit C-1, or requires a supplemental HVAC system to enable the Building’s HVAC system to maintain the
Premises at the appropriate temperature, Tenant shall be responsible for the full cost of such modifications and/or supplemental HVAC system. All changes to the Building’s HVAC system shall be subject to Landlord’s approval and shall be
designed and installed by Landlord’s designated contractors. If Tenant installs any equipment in the Premises (including server rooms or data centers) or uses a layout or density that requires additional HVAC above and beyond the level Landlord
determines is standard for office users in the Building, Landlord may require Tenant, at Tenant’s own expense, to install supplemental HVAC equipment to service the Premises. Tenant shall operate, maintain, repair and replace when necessary any
supplemental HVAC equipment installed in the Building to serve the Premises. 
 8.1.2 Access. Subject to Landlord’s customary
access control procedures, Tenant and its employees shall have access to the Premises and Common Areas 24-hours-a-day, 7-days-a-week. Landlord shall provide nonattended passenger elevator service 24-hours-a-day, 7-days-a-week, in common with all
other tenants. Use of the freight elevator must be scheduled with Landlord in advance and will be restricted during hours when it will be used for primary access to the roof top retail premises. The Elevators may be operated on a controlled access
basis except during Building Hours. All elevator service shall be subject to periodic maintenance, repair or interruptions in service for safety and health reasons. Tenant, at Tenant’s cost, may install, operate and maintain its own security
and card access system for the Premises provided that (a) such system must be coordinated with the access control system for the Building, and (b) Tenant must provide Landlord with access cards for the Premises, and (c) the work to
install the system shall be performed by Tenant as part of the Tenant Improvements subject to Exhibit C or as an Alteration subject to Section 8.4. Tenant must maintain any such system in good working order at all times and must
remove the system on Lease termination. 
 8.1.3 Electricity. As part of the Building infrastructure, Landlord shall provide
electrical service to operate Building systems and transformed power to the Premises for an available connected load of up to 4.0 watts per square foot for Tenant’s equipment and 1.0 watts per square foot for lighting 24 hours per day, 7 days
per week, 365 days per year. Operating Costs include electrical power for normal office lighting and customary quantities of office equipment (including desktop computers, copiers, and fax machines) provided that Tenant’s demand load does not
exceed 1.5 watts per square foot for equipment and 0.9 watts per square foot for lighting. Additional electrical capacity (up to an additional 3.0 watts per square foot) may be made available to the Premises if Tenant installs additional equipment
including but not limited to a buss plug and transformer in the Premises, at Tenant’s expense. Landlord may require installation of new equipment, meters or supplemental HVAC. Tenant shall reimburse Landlord for all costs incurred by Landlord
for electricity consumed by Tenant’s supplemental HVAC equipment or other equipment that individually or collectively draws more power than 

  
 25 

 
that set forth above. Tenant’s electrical usage shall be based on estimates by qualified engineers based on rated capacity of such equipment or Landlord may require Tenant to install meters
to measure such usage at Tenant’s expense. If Tenant’s electrical usage, as reasonably determined by Landlord, exceeds the foregoing standard or exceeds the consumption level allowed under any Green Standard, Tenant shall reimburse
Landlord on demand for such excess usage and shall implement measures to reduce consumption to levels that satisfy the Green Standards and are consistent with Building standards. 

8.1.4 Water. Landlord shall furnish water at designated supply points shown on Landlord’s plans, including cold water for Common
Area drinking fountains, if any, and hot and cold water in Building standard bathrooms. Hot water in any other areas within the Premises shall be provided by Tenant 

8.1.5 Janitorial Service. Landlord shall furnish Building standard janitorial service to the Premises and Common Areas five
(5) days per week (excluding holidays). If any Tenant Improvements are not consistent in quality and quantity with improvements customarily installed by Landlord for other tenants in the Building or require special cleaning or if Tenant’s
use of the Premises requires janitorial service in excess of the service provided as part of Operating Costs, Tenant shall pay any additional cleaning and janitorial cost upon demand as Additional Rent. 

8.1.6 Property Management Services. Landlord shall provide directly or shall retain an experienced property manager to provide property
management services consistent with the level of service provided in comparable class A office buildings in the general area. 
 8.1.7
Interruption of Services. If any Building equipment or machinery ceases to function properly for any cause within Landlord’s control, Landlord shall use commercially reasonable efforts to repair the same promptly. Landlord shall have no
liability and Tenant shall not be entitled any damages or rent abatement for any interruption of Building Services (a “Service Failure” ) except as expressly set forth herein. Notwithstanding anything to the contrary in this Lease,
if Service Failure occurs and the means of correcting the Service Failure is solely within Landlord’s control, and (a) the Service Failure materially interferes with Tenant’s use of the Premises or any portion thereof to such a degree
that Tenant is unable to use, and actually ceases use of, the affected portion of the Premises, and (b) Tenant has given Landlord written notice describing the Service Failure and identifying the portion of the Premises rendered unusable by
such Service Failure, then, as Tenant’s sole and exclusive remedy for such interruption, Tenant shall be entitled to an abatement of Base Rent in proportion to the area of the Premises affected if the interruption or failure continues for a
continuous period of more than three (3) consecutive business days after Tenant’s written notice to Landlord. The Base Rent abatement shall continue until the earlier to occur of (i) the restoration of the utility or service, or
(ii) the date on which such Service Failure no longer prevents Tenant from engaging in the Permitted Use in such portion of the Premises. Tenant shall not be entitled to any rent abatement if the Service Failure is the result of any act or
omission by Tenant or if the means of correcting the Service Failure is outside Landlord’s control or is caused by Force Majeure Causes. 

  
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 8.1.8 Excess Service. Landlord may charge Tenant separately for Building Services provided
to Tenant in excess of the service level generally provided to Building tenants as part of Operating Costs. 
 8.2 Landlord’s Repair
and Maintenance. Landlord shall repair and maintain in good working order and condition, consistent with Class A office standards, all parts of the Building (excluding the items for which Tenant is responsible under Section 8.3
below or for which any other tenant is responsible under the terms of its lease), including without limitation: (a) the structural portions of the Building; (b) the exterior walls, including glass and glazing and sealing thereof;
(c) the roof structure and roof membrane; (d) the HVAC system for the Building (including all components and HVAC distribution equipment within the Premises) and the mechanical, electrical, plumbing, and access control systems for the
Building (but not those elements thereof installed by or on behalf of Tenant or exclusively serving the Premises), elevators, fire stairwells (but not stairwells installed by Tenant) and Building life safety systems; and (e) Common Areas.
Landlord shall obtain and enforce industry standard warranties and service contracts. All costs incurred under this Section shall be Operating Costs except as expressly excluded in Section 3.3; provided that if a cost is incurred to
correct damage caused by a negligent or intentionally wrongful act or omission of Tenant or any Tenant Party (as defined in Section 11.1), to the extent the damage is not covered by insurance, Landlord may charge Tenant for such cost and
Tenant shall reimburse Landlord for such cost upon demand. 
 8.3 Tenant’s Repair and Maintenance. Tenant shall maintain the
Premises at all times in good condition and repair in a manner consistent with tenant spaces in other class A office buildings and shall make all repairs, replacements or additions of any kind whatsoever to the Premises, the Tenant Improvements, and
all personal property located within the Premises and to all trade fixtures, furnishings, personal property and carpet located within the Premises to satisfy such obligation. Tenant shall follow a program of regular maintenance and repair of the
Premises to minimize deterioration by ordinary wear and tear. Tenant’s obligation includes without limitation maintenance and repair of any supplemental HVAC equipment installed by or on behalf of Tenant and exclusively serving the Premises.

 8.4 Premises Alterations. Following completion of the initial Tenant Improvements, except for purely cosmetic work such as paint
and carpet, Tenant shall not make any additional improvements or alterations to the Premises (“Alterations”) without Landlord’s prior written approval. Any Alterations by Tenant shall be done in conformity with plans and
specifications approved by Landlord and shall be performed by a licensed contractor approved by Landlord. If at the time the Alterations are made a Security Deposit or Letter of Credit is required under Article 4, upon request by Landlord,
Tenant shall post a bond or other security satisfactory to Landlord to protect Landlord against liens arising from work performed for Tenant. All work performed by or on behalf of Tenant shall be completed in a good and workmanlike manner using
materials suitable for a building subject to the Green Standards. In performing any Alterations (including purely cosmetic work such as paint and carpet), Tenant and its contractor and all subcontractors shall comply with Landlord’s rules and
procedures governing construction in the Building, including insurance requirements. Upon completion of any Alterations, Tenant shall provide Landlord with hard copies and electronic copies of updated “as built” plans in a format approved
by Landlord. All improvements and Alterations made by Tenant to the Premises shall become a part of the Premises and shall become the property of Landlord upon expiration or earlier termination of this Lease, except as otherwise provided in
Section 15 below. 

  
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 8.5 Liens. Tenant shall keep the Premises and the Property free from any liens arising out
of any work performed, material furnished, or obligations incurred by Tenant. If any lien shall be filed for work or materials furnished to Tenant, then Tenant shall, at its expense, within ten (10) days after it receives notice of the filing
either (a) discharge or bond over the lien, or (b) provide Landlord adequate security for the lien and take steps to contest the lien in good faith by appropriate proceedings that operate to stay its enforcement provided that Tenant must
pay promptly any final adverse judgment entered in any such proceeding. If Tenant does not comply with these requirements, Landlord may discharge the lien, and the amount paid, as well as Landlord’s reasonable attorneys’ fees and other
expenses incurred by Landlord together with interest thereon at the Default Rate, shall become Additional Rent payable by Tenant on demand. 

8.6 Utilities. Tenant shall be responsible for payment for all utilities which are separately metered or billed to the Premises. To the
extent utilities are separately metered or billed to the Premises, Tenant shall pay such utility charges directly to the utility companies. To the extent any utilities are shared with other tenants of the Building, Tenant shall pay its allocable
share of such utility charges, as reasonably determined by Landlord, or at Landlord’s option, as an Operating Cost. 
 8.7 Disclaimer
of Warranties. Tenant acknowledges that except as specifically provided herein neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the Premises or the Building or with respect to the suitability of
the Premises or the Building for the conduct of Tenant’s business. Tenant shall obtain and keep in force all licenses and permits necessary for the operation of Tenant’s business. Landlord’s obligations under this Lease shall not be
enlarged by reason of conditions imposed upon Tenant pursuant to any such licenses or permits. Except as specifically provided herein, Tenant’s obligations under this Lease shall not be contingent in any way upon the availability, affordability
or conditions of any such licenses or permits, and the Commencement Date shall not be delayed by reason of the unavailability or conditions of any such licenses or permits. 

8.8 Telecommunications. Tenant is solely responsible for installing and maintaining telecommunications or computer wires, cables and
related devices in or serving the Premises (collectively the “Lines”) from the point the Lines exit the main telecommunications closet for the floor on which the Premises are located. Only providers approved in advance by Landlord
shall be permitted access to the telecommunications closet on the floor on which the Premises are located, to the risers in the Building or to the demarcation room serving the Building and all work in those areas shall be coordinated by Landlord.
Tenant shall reimburse Landlord for the actual cost of such work on demand. Tenant may install, maintain, replace, remove or use Tenant’s Lines, provided work related thereto shall be considered an Alteration subject to the terms of
Section 7.4 above. Tenant shall not interfere with the use of any other Lines in the Building. If Tenant uses any equipment that may create an electromagnetic field exceeding the normal insulation ratings of ordinary twisted pair riser
cable or cause radiation higher than normal background radiation, the Lines therefor (including riser cables) shall be appropriately insulated to prevent emission of such excessive electromagnetic fields or radiation. As a condition to permitting
the installation of new Lines, Landlord may require that Tenant remove 

  
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existing Lines located in or serving the Premises, to the extent practically feasible without demolishing walls. Landlord reserves the right to require that Tenant remove any Lines (whether such
Lines were installed by Tenant or any other party) located in or serving the Premises (a) upon termination of this Lease; or (b) during the Term if the Lines are installed in violation of this Lease, have been abandoned, violate any
applicable Laws, or represent a dangerous or potentially dangerous condition, but only to the extent practically feasible without demolishing walls. Tenant shall complete such removal in a good and workmanlike manner in accordance with applicable
Laws within three (3) days after written notice. Any Lines not required to be removed pursuant to this Section shall, at Landlord’s option, become the property of Landlord (without payment by Landlord). Neither Landlord nor its employees,
property manager or affiliates has made any representation with respect to any Lines and shall not have any liability for damages arising from Tenant’s use of any Lines or any Line Problems. “Line Problems” means
(i) eavesdropping or wiretapping by unauthorized parties; or (ii) failure of any Lines to satisfy Tenant’s requirements; or (iii) shortages, failures, variations, interruptions, or disconnections in service; or (iv) loss or
damage caused by the installation, maintenance, replacement, use or removal of Lines by or for other tenants or occupants in the Building; or (v) failure of the power supply for the Building to conform to any requirements for the Lines or any
associated equipment; or (vi) other problems associated with any Lines by any other cause. Under no circumstances shall any Line Problems be deemed an actual or constructive eviction of Tenant, render Landlord liable to Tenant, result in
abatement of Rent, or relieve Tenant from performance of Tenant’s obligations under this Lease. 
 8.9 Roof Top Equipment. Tenant
shall have the nonexclusive right to use a portion of the roof of the Building (such portion to be no greater than Tenant’s Share of the available space on the roof for tenant operated equipment) to install, maintain, repair, and replace
satellite dishes or antenna and related equipment (the “Antenna”) at Tenant’s sole cost and expense. Tenant may also install, maintain, remove and replace cables or lines within the Building outside the Premises (at locations
designated by Landlord) to connect any Antenna to the Premises. Tenant may use the Antenna only for Tenant’s general business purposes and may not grant any other party any right to use the Antenna for any purpose whatsoever. The Antenna may
not be used for providing cellular phone service or commercial broadcasts. The Antenna may not interfere with the operation of any equipment used by Landlord or its service providers, or any equipment used by other occupants of the Building that is
in place prior to the placement of the Antenna. If any interference occurs Landlord may immediately revoke Tenant’s right to use the Antenna determined to be causing such interference. The design, appearance, size, location and method of
installation of the Antenna, and the use thereof shall be subject to all applicable Laws and Landlord’s prior approval, which approval shall not be unreasonably withheld or conditioned provided that all terms and conditions of this Section have
been satisfied. Tenant shall ensure that installation and maintenance of the Antenna do not void or limit any warranty Landlord may have on the roof or roof membrane. Tenant shall provide Landlord with full plans and specifications for any Antenna
for Landlord’s approval prior to installation thereof including details regarding Tenant’s proposed method of installation. Tenant shall ensure that the Antenna is designed, installed and operated in a manner that complies with all Laws
and in a manner that is compatible with the design of the Building and other equipment located on the roof of the Building and including appropriate screening as may be required by Law or by Landlord to protect the integrity of the Building design.
Prior to commencement of any work under this Section, Tenant shall obtain and deliver to Landlord all necessary governmental permits. 

  
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Landlord makes no representation or warranty concerning (i) the use of the roof by Tenant, or (ii) the safety thereof, or (iii) that the installation of the Antenna will be
permitted under applicable Laws, or (iv) that such use or Antenna will function as intended. If Tenant’s use of the roof or the Antenna ceases to be permitted under applicable Laws, Tenant’s rights under this Section shall terminate
and be of no further force or effect. Upon termination of Tenant’s rights under this Section or upon Lease termination, Tenant at its sole cost and expense shall promptly remove the Antenna and all related improvements, wiring, plumbing, and
equipment from the Building and shall restore the Building to its condition existing prior to such installation. Tenant acknowledges and agrees that Landlord has not represented or warranted that Tenant will have unlimited access to riser space or
other space outside the Premises to accommodate Tenant’s needs. Tenant shall indemnify and hold harmless Landlord from any claims, liabilities, suits, losses, loss of rents, liens, damages, penalties, costs or expenses, including reasonable
attorneys’ and consultants’ fees and court costs, demands, causes of action, or judgments, directly or indirectly relating to or arising out of or in connection with any use by Tenant of the roof and in connection with Tenant’s
installation, maintenance, use or removal of any improvement, including any Antenna and related equipment in the Building, except to the extent arising from the gross negligence or willful misconduct of Landlord. If Landlord needs to do any work on
the roof, Tenant shall relocate its Antenna as directed by Landlord at Tenant’s cost. 
 9. INSURANCE 

9.1 Use; Rate. Tenant shall not conduct or permit to be conducted any activity, or place any equipment in or about the Premises or the
Building which will in any way increase the rate of fire insurance or other insurance on the Building beyond normal office use. If any increase in the rate of fire insurance or other insurance is stated by any insurance company or by the applicable
Insurance rating bureau to be due to any activity or equipment of Tenant in or about the Premises or the Building, such statement shall be conclusive evidence that the increase in such rate is due to such activity or equipment and, as a result
thereof, Tenant shall be liable for the amount of such increase. Tenant shall reimburse Landlord for such amount upon written demand from Landlord and such sum shall be considered additional rent payable hereunder. In no event shall Tenant do
anything that invalidates any insurance coverage maintained by Landlord. 
 9.2 Tenant’s Insurance. Commencing on the date Tenant
first accesses the Property for any purpose and throughout the Term, Tenant shall obtain and maintain (1) commercial general liability insurance (written on an occurrence basis) including contractual liability coverage under which this Lease
qualifies as an insured contract, premises and operations coverage, broad form property damage coverage and independent contractors coverage, personal injury and products and completed operations, (2) all-risk or special form cause of loss or
cause of loss special form property insurance, (3) business interruption insurance (in an amount no less than the Base Rent and Additional Rent then in effect during any year), (4) commercial automobile liability insurance (covering any
automobiles owned or operated by Tenant, if any), (5) worker’s compensation insurance, and (6) employer’s liability insurance. Such commercial general liability insurance shall be in an amount (which may include umbrella or
excess liability insurance) of no less than Two Million Dollars ($2,000,000) combined single limit per occurrence with a Five Million Dollar ($5,000,000) annual aggregate per location. Such all-risk or special form cause of loss property insurance
shall be in an amount not less than that required 

  
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to replace (without coinsurance) all of the Tenant Improvements installed in the Premises pursuant to Exhibit C, all Alterations and all other contents of the Premises (including, without
limitation, Tenant’s trade fixtures, decorations, furnishings, equipment and personal property) including coverage for any damage caused by water leaking from Tenant’s equipment (including icemakers, coffee makers and water fountains) or
pipes. Such commercial automobile liability insurance shall be in an amount not less than One Million Dollars ($1,000,000) for each accident. Such worker’s compensation insurance shall carry minimum limits as defined by the law of the
jurisdiction in which the Building is located (as the same may be amended from time to time). Such employer’s liability insurance shall be in an amount not less than Five Hundred Thousand Dollars ($500,000) for each accident, Five Hundred
Thousand Dollars ($500,000) disease-policy limit, and Five Hundred Thousand Dollars ($500,000) disease-each employee. 
 9.3 Additional
Insurance Requirements. All insurance Tenant is required to carry under this Article shall: (1) be issued by a company that is licensed to do business in the jurisdiction in which the Building is located and that has a rating equal to or
exceeding A:VII from the then current Best’s Key Rating Guide; (2) in the case of the commercial general liability insurance, name Landlord, the property manager and/or managing agent of the Building and each Senior Party (as defined in
Section 15.1) and any other party reasonably designated by Landlord, as additional insureds; (3) in the case of the all-risk or special form cause of loss property insurance and business interruption insurance require that such policy
shall remain in full force and effect notwithstanding that the insured may have waived its right of action against any party prior to the occurrence of a loss; (4) be reasonably acceptable in form and content to Landlord; (5) be primary
and noncontributory with respect to the Landlord and the additional insureds; (6) contain an endorsement, prohibiting cancellation, failure to renew, reduction of amount of insurance or material reduction in coverage without the insurer first
providing Landlord thirty (30) days prior written notice (ten [10] days prior written notice for nonpayment of premiums) of such proposed action; and (7) not contain any deductible provision that is not commercially reasonable. Landlord
reserves the right from time to time to require Tenant to obtain higher minimum amounts of commercial general liability insurance, if and to the extent inflation or other market factors have rendered the prior applicable insurance limit inadequate;
provided that Landlord shall not make such adjustments more frequently than once every five (5) years unless required to do so by a lender. Tenant shall deliver a certificate of all such insurance and receipts evidencing payment therefor (and,
upon request, copies of all required insurance policies, including endorsements and declarations) to Landlord no later than the date on which Tenant first accesses the Property for any purpose and at such other times as Landlord may request. Until
Landlord receives the insurance certificate, Landlord may deny Tenant access to the Building including access under Exhibit C and any delay in completion as a result thereof shall be a Tenant Delay. 

9.4 Failure to Provide Coverage. If Tenant fails to procure and maintain insurance as required by this Lease, Landlord solely to protect
its own interests may obtain such insurance and Tenant shall pay to Landlord the premium cost thereof upon demand and as Additional Rent, with interest at the Default Rate from the date of payment by Landlord to the date of repayment by Tenant. 

  
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 9.5 Limits. The limits of any insurance to be maintained by Tenant hereunder shall in no
way limit the liability of Tenant under this Lease. Tenant is advised to obtain any additional coverage Tenant deems necessary to desirable to protect its interests. 

9.6 Landlord’s Insurance. Landlord shall insure the Building against loss due to fire and other casualties in the form and with
coverage reasonably determined by Landlord. Such insurance need not cover (a) Tenant’s furniture, fixtures, equipment or other personal property of Tenant on the Premises, or (b) any portion of the Tenant Improvements. Throughout the
Term, Landlord shall maintain commercial general liability insurance (written on an occurrence basis) covering the common areas of the Building. Landlord may also carry rent insurance and any other form or forms of insurance as Landlord or its
lenders may require from time to time, in form, amounts and for insurance risks and with any such deductibles as Landlord may from time to time reasonably determine. Any insurance provided for in this Section may be affected by a policy or policies
of blanket insurance, covering additional items or locations or insureds. Landlord may elect to self-insure all or any part of such required insurance coverage. All costs and all commercially reasonable deductibles or self insured retentions
relating to Landlord’s insurance shall be included in Operating Costs. Tenant shall have no rights in any policy or policies maintained by Landlord and shall not, by reason of payment by Tenant of Tenant’s Share of the premium for such
insurance be entitled to be a named or additional insured thereunder. Landlord’s insurance is solely to protect Landlord’s interests and Landlord is not required to carry any coverage for the benefit of Tenant. 

9.7 Waiver of Subrogation. Tenant hereby waives and releases Landlord and the holder of any mortgage from any and all liabilities,
claims and losses for damage to property for which Landlord is or may otherwise be held liable to the extent Tenant either is required to maintain property insurance pursuant to this Article with respect to the property so damaged, or receives
insurance proceeds on account thereof. Landlord hereby waives and releases Tenant from any and all liabilities, claims and losses for damage to property for which Tenant is or may be otherwise held liable to the extent Landlord either is required to
maintain property insurance pursuant to this Article with respect to the property so damaged, or receives insurance proceeds on account thereof. In either case, any deductible amount paid by either party shall be viewed as included in the insurance
requirements or recovery—i.e. may not be recovered from the other party under an indemnification claim, but in the case of Landlord, may be included in the Operating Costs to the extent permitted by the applicable Section of this Lease. In the
case of the all-risk or special form cause of loss property insurance, both parties shall secure waiver of subrogation endorsements from their respective insurance carriers as to the other party. 

10. DESTRUCTION AND CONDEMNATION 
 10.1
Total Destruction. In the event of total destruction of the Building, this Lease shall terminate as of the date of such total destruction. 

10.2 Partial Destruction. If the Building is partially damaged by fire or other perils and Landlord reasonably concludes that the
Building can be repaired, reconstructed or restored within ninety (90) days from the date of such casualty, and if Landlord will receive insurance proceeds sufficient to cover the cost of repairs for which it is responsible, then Landlord shall
commence and proceed diligently with the work of repair, reconstruction and restoration and this 

  
 32 

 
Lease shall continue in full force and effect. If the Building is partially damaged by fire or other perils and Landlord reasonably concludes that the Building cannot be repaired, reconstructed
or restored within ninety (90) days from the date of such casualty, or that Landlord will not receive insurance proceeds sufficient to cover the cost of repairs for which it is responsible, Landlord may elect to restore the Building or to
terminate this Lease. If Landlord elects to keep this Lease in effect and to complete the repairs for which it is responsible, Landlord shall commence such work as soon as reasonably possible following receipt of insurance proceeds and any necessary
permits and shall prosecute the same diligently to completion, in which event this Lease shall remain in full force and effect. Landlord shall give Tenant written notice of its intention as soon as reasonably possible after the extent of the damage
is determined. If Landlord elects not to restore the Building, this Lease shall be deemed to have terminated as of the date Tenant is required to vacate the Premises as set forth in Landlord’s notice to Tenant. 

10.3 Effect of Termination. Upon any termination of this Lease under any of the provisions of this Article, the parties shall be
released without further obligation to the other from the date possession of the Premises is surrendered to Landlord except for items which have therefore accrued and are then unpaid or which survive termination. 

10.4 Rent Abatement. In the event of damage to the Premises such that a portion of the Premises is rendered untenantable or to the
Building such that access to the Premises is not possible, Base Rent and Operating Costs shall be abated proportionately based on the square footage that is untenantable from the date of such damage until Landlord’s restoration is complete;
provided that there shall be no abatement if such damage is the result of Tenant’s or its agent’s, contractor’s or employee’s negligence or intentional wrongdoing or if rent loss insurance proceeds are not available. Except for
such rent abatement, Tenant shall not be entitled to any compensation or damages for loss in the use of the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration.
Tenant shall not be released from any of its obligations under this Lease except to the extent and upon the conditions expressly stated in this Article. 

10.5 Delay in Restoration. Notwithstanding anything to the contrary contained herein, if as of the date that is nine (9) months
after the receipt of insurance proceeds and necessary permits Landlord has not completed the restoration for which it is responsible and use of or access to the Premises continues to be materially impacted, Tenant may terminate this Lease, whereupon
Landlord shall be relieved of its obligation to make such repairs or restoration and Tenant shall be released from its obligations under this Lease effective as of the date of such election or the date Tenant surrenders possession, if later. If
damage is due to any cause other than fire or other peril paid in full by Landlord’s insurance or if Landlord’s lender will not permit the insurance proceeds to be used for restoration, Landlord may elect to terminate this Lease. 

10.6 Restoration Obligation. If Landlord is obligated to or elects to repair or restore following any casualty, Landlord shall not be
obligated to repair or restore those portions of the Premises which Tenant is obligated to insure. Tenant shall repair and restore all Tenant Improvements and Alterations so as to restore the Premises to their condition prior to the casualty event
and Landlord shall disburse insurance proceeds received from Tenant’s insurer for that purpose. 

  
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 10.7 Damage at End of Term. Notwithstanding anything to the contrary contained in this
Article, if any material damage occurs as a result of any casualty during the last twelve (12) months of the Term, Landlord shall not have any obligation to repair, reconstruct or restore the Premises and either Landlord or Tenant may terminate
this Lease by written notice within sixty (60) days after such date of damage or destruction. 
 10.8 Waivers. Tenant waives the
provisions of any statutes or court decisions which relate to the abatement of rent or termination of leases when leased property is damaged or destroyed and agrees that such events shall be exclusively governed by the terms of this Lease. 

11. Condemnation. 
 If the whole of
the Property, Building or the Premises shall be taken by virtue of any condemnation or eminent domain proceeding, this Lease shall automatically terminate as of the date of the condemnation, or as of the date possession is taken by the condemning
authority, whichever is later. If a portion of the Common Areas required for Tenant’s reasonable use of the Premises shall be taken under the power of eminent domain then this Lease shall not terminate unless Landlord is unable to provide
alternate facilities within a reasonable period of time. Base Rent and Operating Costs shall be apportioned as of the date of the termination. In case of a taking of a part of the Premises or a part of the Property not required for the reasonable
use of the Premises, then this Lease shall continue in full force and effect and the Base Rent and Operating Costs shall be proportionally reduced based upon the reduction in Premises Rentable Area, effective on the date of the partial taking. No
award, settlement in lieu of an award, for any partial or entire taking shall be apportioned between the parties. Tenant waives any right to participate in the eminent domain proceeding and assigns to Landlord all of Tenant’s interest in any
award or settlement in lieu of an award which may be made in the taking or condemnation proceeding. Notwithstanding the foregoing, Tenant may make a claim in a separate proceeding against the condemning authority for the taking of Tenant’s
personal property and/or moving costs so long as such claim in no way affects the award to be received by Landlord. A sale by Landlord to any authority having the power of eminent domain, either under threat of condemnation or while condemnation
proceedings are pending, shall be deemed to be a taking under the power of eminent domain for all purposes under this Section. 
 12. INDEMNITY AND
WAIVER 
 12.1 Indemnity. 

12.1.1 Tenant Responsibility. Subject to Section 12.1.2 and the waiver of subrogation in Section 9.11 above,
Tenant agrees to defend, indemnify, and hold Landlord and its property manager and lenders and each of their affiliates and each of their respective partners, directors, officers, employees, shareholders, agents, contractors and each of their
respective successors and assigns (individually an “Indemnitee” and collectively, “Indemnitees”) harmless from and against any and all claims, costs, and liabilities, including reasonable attorneys’ fees and
costs (including costs and fees associated with any lawsuit or appeal), to the extent arising by reason of any injury or claim of injury to person or property, of any nature and howsoever caused, occurring within the Premises or arising out of the
acts or omissions of Tenant, its agents, contractors, sublessees, licensees and assignees and each of their invitees and employees 

  
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(individually a “Tenant Party” and collectively, “Tenant Parties”), or any violation of any governmental or insurance requirements by Tenant or any Tenant Party;
provided, however, that Tenant shall not be required to indemnify any Indemnitee for the Indemnitee’s gross negligence or willful misconduct. 

12.1.2 Landlord Responsibility. Subject to the waiver of subrogation in Section 9.11 above, Landlord agrees to defend,
indemnify, and hold Tenant harmless from and against any and all claims, costs, and liabilities, including reasonable attorneys’ fees and costs (including costs and fees associated with any lawsuit or appeal), to the extent arising by reason of
any injury or claim of injury to person or property arising out of the gross negligence or willful misconduct of Landlord or its property manager or either of their employees; provided, however, that Landlord shall not be required to
indemnify Tenant for any matter that is subject to the Tenant’s indemnity under Section 12.1.1. 
 12.1.3 Concurrent
Negligence. If and to the extent RCW 4.24.115 is applied to this Lease, the indemnities herein shall be limited so that (i) neither party is indemnifying the other against liability arising out of the sole negligence of the indemnified
party or its agents or employees; and (ii) Tenant will indemnify the Landlord Parties to the maximum extent permitted under RCW 4.24.115. 

12.1.4 Waiver of Immunity. Solely for the purpose of effectuating the parties’ indemnification obligations under this Lease, and
not for the benefit of any third parties (including but not limited to employees of Tenant), each party specifically and expressly waives any immunity that may be granted it under the Washington State Industrial Insurance Act, Title 51 of the
Revised Code of Washington. Furthermore, the indemnification obligations under this Lease shall not be limited in any way by any limitation on the amount or type of damages, compensation or benefits payable to or for any third party under Worker
Compensation Acts, Disability Benefit Acts or other employee benefit acts. This waiver has been specifically negotiated by the parties and each party has had the opportunity to, and has been encouraged, to consult with independent counsel regarding
this waiver. 
 12.2 Waiver of Claims. All property kept, stored or maintained on the Premises shall be so kept, stored or maintained
at the sole risk of Tenant. Landlord shall not be liable, and Tenant waives all claims against Landlord, for damages to persons or property sustained by Tenant or by any other person or firm resulting from the Building or the Premises or any
equipment located therein becoming out of repair, or through the acts or omissions of any persons present in the Building (including the Common Areas) or renting or occupying any part of the Building (including the Common Areas), or for loss or
damage to any property resulting from burst, stopped or leaking sprinklers, sewers, pipes, conduits, or plumbing fixtures, or for interruption of any utility services, or from any failure of or defect in any electric line, circuit, or facility, or
any other type of improvement or service on or furnished to the Premises or the Common Areas or resulting from any accident in, on, or about the Premises or the Common Areas. In no event shall Landlord be liable to Tenant for business losses or
consequential damages. 

  
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 13. ASSIGNMENT, SUBLEASE AND SUCCESSION 

13.1 Consent Required. Tenant shall not assign this Lease or any interest under this Lease, sublet, license, grant any concession, or
otherwise give permission to any other person to use or occupy all or any part of the Premises (each a “Transfer”) without the prior written consent of Landlord. Landlord shall not unreasonably withhold its consent to a direct
sublease or an assignment of all of Tenant’s rights under this Lease provided that Tenant is not in default beyond applicable cure periods at the time Tenant requests such consent. No subtenant shall be permitted to further sublease or assign
its sublease and Landlord may give or deny consent to any such transaction in its sole discretion. In agreeing to act reasonably, Landlord may act in a manner consistent with other institutional owners of class A office properties and may consider
the financial terms of the Transfer and the impact of the Transfer on Landlord’s own leasing efforts and the value of the Property. Without limiting the generality of the foregoing and without limitation on any other factors that Landlord may
consider, Landlord may consider whether (a) the proposed transferee’s tangible net worth and credit standing, calculated in accordance with generally accepted accounting principles consistently applied, is comparable to the tangible net
worth and credit standing of tenants then being considered by Landlord as direct tenants for comparable amounts of space or is otherwise reasonably satisfactory to Landlord, (b) the number of years of business experience or the business
reputation of the proposed transferee is comparable to that of tenants then being considered by Landlord as direct tenants, (c) a default by Tenant beyond applicable cure periods is outstanding under this Lease, (d) the proposed transferee
or an affiliate thereof is or has been, within the six month period prior to the date Tenant requests Landlord’s consent, in discussions with Landlord regarding a direct lease, or (e) the proposed transferee is a governmental agency or
proposes to change the use of the Premises to a use that is inconsistent with the character of the Building as a class A office project and/or is not consistent with Landlord’s existing or desired tenant mix for the Building. 

13.2 Ownership Transactions. Except for Permitted Transfers (defined below), unless Tenant is a corporation that is publicly traded on a
reputable United States stock exchange, the sale, assignment, transfer, sublease or disposition, whether for value, by operation of law, in a single transaction or a series of related transactions or within any twelve (12) month period, of:
(a) fifty percent (50%) or more of the issued and outstanding stock of Tenant, or (b) fifty percent (50%) of the total interest of Tenant, if Tenant is a partnership, joint venture, or limited liability company or any other type
of legal entity, shall constitute a Transfer subject to Section 12.1. Any change in ownership of Tenant’s parent of the type described above shall also constitute a Transfer of this Lease. 

13.3 Permitted Transfers. Notwithstanding anything to the contrary in this Lease, the following Transfers shall not require advance
consent from Landlord: (a) issuance of shares in in Tenant in a public offering; (b) issuance of shares in Tenant in a private venture funding; (c) merger or consolidation of tenant with another entity; (d) assignment of the
Lease in connection with a sale of substantially all of Tenant’s assets; (e) a sublease of the entire Premises or an assignment of its entire interest in this Lease to a corporation or other type of legal entity that directly controls, is
controlled by or is under common control with Tenant; (f) direct or indirect purchase of shares by any person or entity which immediately prior to such purchase is a shareholder, director, officer or employee of Tenant; and (g) transfer of
shares in Tenant incident to a death or for estate planning purposes (each of the foregoing is referred to as a “Permitted  

  
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Transfer” and the transferee under any Permitted Transfer is a “Permitted Transferee”) but only if immediately following the events enumerated above, the Permitted
Transferee can demonstrate that it satisfies the Adjusted EBITDA test in Section 4.3 (the “EBITDA Hurdle”). Tenant may not engage in a Permitted Transfer if an Event of Default is outstanding under this Lease unless the
default is cured simultaneously with the closing on the Permitted Transfer. Tenant shall notify Landlord in writing of any Permitted Transfer prior to the effective date thereof and the notice shall include documentation demonstrating that the
Transfer qualifies as a Permitted Transfer. If Tenant engages in a Permitted Transfer under clause (e) above, such Transfer shall be a Permitted Transfer only so long as the Transferee continues to be an entity that directly controls, is
controlled by or is under common control with Tenant. Following any Permitted Transfer which results in a sublease of the Premises, an assignment of the Lease, or a change in the name of Tenant, Tenant shall deliver to Landlord copies of all
relevant transaction documents evidencing the identity of the parties and the assumption of liabilities, redacted if necessary to reserve confidential information. No Permitted Transfer shall relieve Tenant of its liability under this Lease and
Tenant shall remain liable to Landlord for the payment of all Base Rent, Operating Costs and Additional Rent and the performance of all covenants and conditions of this Lease applicable to Tenant. If a Transfer would be a Permitted Transfer but for
failure to meet the EBITDA Hurdle, Landlord shall nevertheless be required to review such Transfer under the provisions of Section 13.1. 

13.4 Landlord’s Rights. Tenant shall pay all expenses incurred by Landlord, including without limitation attorneys’ fees, in
connection with its review and handling of any request for consent to a Transfer. Tenant shall pay a deposit equal to One Thousand Dollars ($1,000.00) at the time Tenant requests consent. If Landlord’s costs exceed the deposit, Tenant shall pay
the balance upon demand and if the costs are less than the deposit, Landlord shall credit the excess to the next payment of Rent falling due. If Tenant requests consent to a Transfer and the Transfer when combined with all prior Transfers will cover
more than seventy-five percent (75%) of the Premises, Landlord shall have the option, exercisable by written notice within twenty (20) business days after receipt of Tenant’s written request for Landlord’s consent, to terminate
this Lease with respect to the portion of the Premises to which the proposed Transfer applies, provided that Tenant may render Landlord’s notice of termination void by withdrawing its request for consent by written notice to Landlord within
five (5) business days after Tenant’s receipt of Landlord’s notice of termination. Landlord may condition its consent to any proposed Transfer (other than a Permitted Transfer) on such conditions as Landlord may require including
receipt of an additional security deposit or lease guaranty, construction of improvements reasonably deemed necessary or appropriate by Landlord by reason of the Transfer, changes to the floor plan of the subleased space to ensure that the subleased
premises consist of a leasable increment of space, and reaffirmation of any guaranty by any guarantor of Tenant’s obligations. 

13.5 General Conditions. Following any Transfer including a Permitted Transfer, Tenant shall remain primarily liable hereunder unless
released in writing by Landlord. In the event of any assignment, the assignee shall agree in writing to perform and be bound by all of the covenants of this Lease required to be performed by Tenant. Each Transfer (excluding Permitted Transfers under
Subsections 13.3(a), (b), (f) or (g)) shall be evidenced by an instrument in writing reasonably approved by Landlord and an executed original of such instrument shall be delivered to Landlord before the transferee occupies any portion of
the Premises. Consent to any Transfer shall not be deemed to be consent to any subsequent Transfer. Tenant shall not be 

  
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entitled to receive monetary damages based upon a claim that Landlord wrongfully withheld its consent to a proposed Transfer and Tenant’s sole remedy shall be an arbitration action under
Section 13.10. Any Transfer in violation of this Article shall, at Landlord’s option, be void. Landlord’s acceptance of Rent from any other person shall not waive any provision of this Article and shall not constitute consent.
If Tenant’s assignee defaults under this Lease, Landlord may proceed directly against Tenant without pursuing remedies against the transferee. Landlord may consent to subsequent assignments or modifications of this Lease by Tenant’s
assignee, without notifying Tenant or obtaining its consent. Such action shall not relieve Tenant of any liability under this Lease. 

13.6 Excess Payments. If Tenant enters into any Transfer (other than a Permitted Transfer) and receives any consideration which is
explicitly, directly and solely applicable to the Transfer, in excess of the pro-rata portion of Base Rent and Operating Costs applicable to the space subject to the transaction, then Tenant shall pay to Landlord, as Additional Rent, fifty percent
(50%) of such excess consideration. Excess consideration shall be determined after deducting the reasonable costs and expenses actually paid by Tenant for broker fees, legal fees and tenant improvement costs, if any, in connection with the
transaction. Tenant’s costs shall be prorated over the term of the sublease or assignment and the excess consideration shall be calculated and paid on a monthly basis. Landlord shall be entitled to the full amount of any consideration paid by
the assignee or subtenant during any period when Tenant is in default under this Lease. 
 13.7 Succession. Subject to the limitations
on assignment and subletting set forth above, all the terms and provisions of this Lease shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto. 

13.8 No Leasehold Financing. Notwithstanding anything to the contrary contained herein, Tenant shall not encumber, pledge or mortgage
the whole or any part of the Premises or Tenant’s leasehold interest or title to the Premises (including any leasehold improvements, alterations, or additions thereto), nor shall this Lease or any interest thereunder be assignable or
transferable by operation of law or by any process or proceeding of any court or otherwise without the prior written consent of Landlord. If Tenant obtains a debt facility which requires a grant of a security interest in all assets of Tenant,
Landlord shall grant its consent to such security interest as it applies to Tenant’s personal property in the Premises, but not Tenant’s leasehold interest or any leasehold improvements, fixtures, alterations, additions, or improvements in
the Premises. Landlord will execute a commercially reasonably form of consent provided that Tenant must pay all out-of-pocket costs incurred by Landlord including its legal fees and any fees payable to Landlord’s lender, if any. 

13.9 No Merger. The voluntary or other surrender or termination of this Lease by Tenant, or a mutual cancellation thereof shall not work
a merger, but, at Landlord’s sole option, shall either terminate all existing subleases or subtenancies or shall operate as an assignment to Landlord of all such subleases or subtenancies. 

13.10 Dispute Resolution. Certain disputes arising out of or in connection with this Section 13 shall be resolved by binding
arbitration conducted in accordance with this Section. The arbitrator’s jurisdiction shall be limited to (i) deciding whether an issue is subject to this 

  
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arbitration clause, and (ii) determining either that (a) the Transfer in question qualifies as a Permitted Transfer, or (b) the requirements for Landlord to act reasonably with
respect to a proposed Transfer were satisfied and it would unreasonable for Landlord to withhold its consent to the proposed Transfer. No other matters shall be subject to arbitration under this provision and any award determining any other matter
may be set aside. 
 13.10.1 Administration and Rules. Any dispute subject to arbitration shall be instituted within sixty
(60) days after the date on which Tenant submits a proposed Transfer to Landlord for its approval or notifies Landlord that a Permitted Transfer has been completed or is proposed. Arbitration may be commenced only after a party gives written
notice to the other party describing the matter to be submitted to arbitration. The arbitration shall be held in Seattle, Washington, shall be arbitrated by the applicable arbitrator selected pursuant to the following paragraph and shall be
administered by the American Arbitration Association under its Commercial Arbitration rules modified as set forth below. The parties knowingly and voluntarily waive their rights to have disputes within the above described scope of arbitrable issues
adjudicated by a judge or jury. The arbitrator shall make its decision and award according to the terms and provisions of this Lease and the applicable law, and shall briefly set forth the basis for the decision with reference to the language of
this Lease and the applicable law. 
 13.10.2 Arbitrator. Unless the parties otherwise agree within five (5) business days of the
filing of a notice of arbitration, the arbitrator shall be appointed by the American Arbitration Association, based on criteria which it deems relevant in light of the matter at issue. The arbitrator shall be a lawyer who has not less than 10 years
of experience arbitrating landlord / tenant matters, and shall have no past relationship with either party, individually or through an entity with which the arbitrator is or has been associated. The arbitrator appointed as provided above shall hear
and determine all matters subject to arbitration under this provision (subject to replacement with the next specified arbitrator in case of unavailability). 

13.10.3 Procedure. The arbitration shall be concluded within ten (10) business days after the appointment of the arbitrator and the
parties shall use diligence and commercially reasonable efforts to complete the arbitration in a timely manner, however, a delay in completing the arbitration within such time shall not void the arbitration process nor cause the arbitration to be
discontinued. There shall be no discovery except at the discretion of arbitrator. The arbitrator’s decision shall be based on briefs and documentary evidence submitted by the parties, any discovery, and a hearing at a time mutually acceptable
to the parties and the arbitrator. 
 13.10.4 Failure to Cooperate. If a party fails to timely pay its share of the arbitration
expense or deposit or otherwise materially or unreasonably fails to cooperate (including failure to appear at the time scheduled by the arbitrator), and fails to cure such default within one business day of notice from the other party, the other
party may pay such cost, and the arbitrator shall render its decision based on the materials submitted and the language of this Lease and applicable law. 

13.10.5 Award and Relief Authorized. The arbitrator shall have no authority to issue orders for payment of money damages and shall be
limited to orders in the nature of declaratory judgment, and orders for equitable remedies, including specific performance, except that the arbitrator may award attorneys’ fees and arbitration fees and costs to the substantially prevailing
party as provided in Section 22.13. 

  
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 13.10.6 Judicial Enforcement of Award. Judgment upon the arbitrator’s award/decision
may be entered in King County Superior Court. Provided that award/decision is within the scope of the arbitrator’s authority, the award and the judgment based thereon shall be final, binding and nonappealable. 

14. TENANT DEFAULT AND REMEDIES 
 14.1
Events of Default. The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by Tenant (an “Event of Default”): 

14.1.1 Rent. Failure by Tenant to make any payment required as and when due provided, however, that with respect to the
first late payment in any calendar year only, the late payment shall not be an Event of Default unless the payment is not received within five (5) days after delivery of written demand; 

14.1.2 Insolvency. Tenant or any guarantor makes an assignment for the benefit of creditors, or admits in writing that it cannot meet
its obligations as they become due or the making by Tenant or any guarantor of any general assignment or general arrangement for the benefit of creditors; the filing by or against Tenant or any guarantor of a petition in bankruptcy, including
reorganization or arrangement, unless, in the case of a petition filed against Tenant or the guarantor, the petition is dismissed within ninety (90) days; or the appointment of a trustee or receiver to take possession of substantially all of
Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease; 
 14.1.3 Guarantors. Any guarantor of
Tenant’s obligations hereunder ceases to exist as an ongoing business with assets comparable to the guarantor’s assets at the time the guaranty is signed, unless within ten (10) days after written demand, Tenant provides a substitute
guaranty from an entity approved by Landlord in its discretion or if any person who guaranties Tenant’s obligations dies or becomes incapacitated and Tenant fails to provide an affirmation of the guaranty by such person’s estate or a new
guaranty from a person or entity approved by Landlord in its discretion; 
 14.1.4 Estoppels/SNDAs. Failure to deliver any
subordination or attornment agreement or estoppel certificate within 5 business days after notice that such document was not received within the time period specified below; and 

14.1.5 Nonmonetary Obligations. Failure by Tenant to observe or perform any of the covenants, conditions or provisions of this Lease,
other than those covered above, where that failure shall continue for a period of twenty (20) days after Landlord gives written notice to Tenant of that failure or if such failure is not reasonably capable of being cured within such twenty
(20) day period, then failure of Tenant to commence the cure within such period and diligently pursue the cure to completion within sixty (60) days thereafter. 

  
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 14.2 Remedies. 

14.2.1 Termination. If any Event of Default occurs, Landlord shall have the right, with or without notice or demand except as required
by Applicable Law, immediately to terminate this Lease, and Tenant’s right to possession in which case Tenant shall promptly surrender possession of the Premises to Landlord. If Tenant fails to surrender possession Landlord at any time
thereafter may recover possession of the Premises or any part thereof and expel and remove Tenant and any other person occupying the Premises, by any lawful means, and repossess and enjoy the Premises without prejudice to any of the remedies that
Landlord may have under this Lease or at law or in equity by reason of Tenant’s default or of such termination. 
 14.2.2
Continuation After Default. If any Event of Default occurs, this Lease shall continue in effect so long as Landlord does not terminate this Lease pursuant to Section 13.2.1 above, and Landlord may enforce all its rights and remedies
under this Lease, including the right to recover Rent as it becomes due. Landlord, without terminating this Lease, may exercise all of the rights and remedies of a landlord under any applicable Laws. Landlord may enter the Premises and relet it, or
any part of it, to third parties for Tenant’s account, and any rent received in excess of the Rent due hereunder shall belong to Landlord. Tenant shall be liable to Landlord for all costs Landlord incurs in reletting the Premises, including,
without limitation, brokers’ commissions, legal fees, expenses of cleaning and redecorating or remodeling the Premises. Reletting may be for a period shorter or longer than the remaining Term of this Lease. Tenant shall pay to Landlord the Rent
and other sums due under this Lease on the dates the Rent is due, less the actual rent Landlord receives from any reletting. Acts of maintenance, preservation or efforts to lease the Premises or the appointment of a receiver upon application of
Landlord to protect Landlord’s interest under this Lease shall not constitute an election to terminate Tenant’s right to possession. 

14.2.3 Right to Cure Defaults. If Tenant fails (a) to pay any sum of money required to be paid by Tenant hereunder other than Base
Rent or Operating Costs, or (b) to perform any act required to be performed by Tenant hereunder, and if such failure continues for ten (10) days after notice thereof by Landlord, Landlord may, but shall not be obligated, and without
waiving any rights hereunder or releasing Tenant from any obligations hereunder, make any such payment or perform any such act as provided by this Lease. All sums so paid by Landlord and all costs relating thereto (including attorneys’ fees),
together with interest thereon at the Default Rate, from the date of such payment by the Landlord, shall be Additional Rent payable by Tenant to Landlord upon demand, and Landlord shall have the same rights or remedies with respect thereto as in the
case of default in the payment of Base Rent. 
 14.3 Damages Upon Termination. Should Landlord terminate this Lease, Landlord shall
have all rights and remedies available at equity or under applicable Laws. Upon such termination, in addition to any other rights and remedies to which Landlord may be entitled under applicable Laws, Landlord shall be entitled to recover from
Tenant: (a) the worth at the time of award of the unpaid Rent and other amounts which had been earned at the time of termination; (b) the worth at the time of award of the amount by which the unpaid Rent which would have been earned after
termination until the time of award exceeds the amount of such Rent loss that the Tenant proves could have been reasonably avoided; (c) the worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the
time of award exceeds the amount of such Rent loss that the Tenant proves could be reasonably avoided; 

  
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and (d) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which, in the
ordinary course of things, would be likely to result therefrom including but not limited to the expense of recovering possession of the Premises, renovation or alteration of the Premises, and other costs of reletting, Landlord’s legal fees,
brokerage commissions and tenant improvements costs and allowances paid in connection with this Lease (all prorated over the remaining Term. The “worth at the time of award” of the amounts referred to in (a) and (b) shall be
computed with interest at the Default Rate. The “worth at the time of award” of the amount referred to in (c) shall be computed by reference to competent appraisal evidence and using the discount rate of the Federal Reserve Bank of
San Francisco at the time of the award plus one percent (1%). 
 14.4 Computation of Rent for Purposes of Default. For purposes of
computing unpaid Rent which would have accrued and become payable under this Lease pursuant to the provisions of Section 13.3, unpaid Rent shall consist of the aggregate of (a) the total Base Rent for the balance of the Term; plus
(b) any other amounts which Tenant has agreed to pay or which Tenant owes to Landlord for the balance of the Term, including parking charges and Landlord’s good faith estimate of Additional Rent. 

14.5 Remedies Cumulative. The rights and remedies provided to Landlord under this Lease shall be cumulative and shall be in addition to
every other right or remedy provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise, including, but not limited to, suits for injunctive relief and specific performance. The exercise or beginning of the
exercise by Landlord of any one or more of the rights or remedies provided for in this Lease or now or hereafter existing at law or in equity, or by statute or otherwise shall not preclude the simultaneous or later exercise by Landlord for any or
all other rights or remedies provided for in this Lease or now or hereafter existing at or in equity or by statute or otherwise. 
 14.6
No Waiver. The waiver by Landlord of any breach of a covenant, term or condition hereof or Landlord’s failure to declare any default immediately upon occurrence thereof, or delay in taking any action in connection therewith, shall not waive
such default or such covenant, term or condition or any subsequent breach thereof. The subsequent acceptance of any Rent by Landlord shall not be deemed a waiver of any preceding default by Tenant, regardless of Landlord’s knowledge of such
default at the time of Landlord’s acceptance of the Rent. 
 14.7 Waiver of Jury Trial. Landlord and Tenant waive their rights to
trial by jury of any cause of action, claim, counterclaim or cross-complaint in any action, proceeding and/or hearing brought by either Landlord against Tenant or Tenant against Landlord on any matter whatsoever arising out of, or in any way
connected with, this Lease, the relationship of Landlord and Tenant, Tenant’s use or occupancy of the Premises, or any claim of injury or damage, or the enforcement of any remedy under any law, statute, or regulation, emergency or otherwise,
now or hereafter in effect. 

  
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 15. SURRENDER OF POSSESSION 

15.1 Lease Termination. At the expiration or early termination of this Lease, Tenant shall surrender the Premises to Landlord in the
condition required by this Lease. Prior to surrender: (a) Tenant shall remove all Alterations, Tenant Improvements and cabling designated by Landlord to be removed pursuant to the following paragraph and shall restore the Premises and the
Building to the condition existing immediately prior to the installation of such Alterations, Tenant Improvements or cabling; (b) Tenant shall remove all personal property and trade fixtures from the Premises and all of its signs from the
Building; and (c) Tenant shall repair all damage caused by the installation or removal of any such Alterations, Tenant Improvements, cabling, personal property, signage or trade fixtures. Tenant shall deliver the Premises to Landlord broom
clean and in good condition, subject to reasonable wear and tear (consistent with Tenant’s repair and maintenance obligations under this Lease) and damage by casualty that is not required to be repaired by Tenant pursuant to this Lease. 

If Tenant’s cover letter requesting Landlord’s approval of Alterations or Tenant Improvements includes a conspicuous written request
(using all bold font or all capital letters) that Landlord determine which elements of the proposed Alterations or Tenant Improvements will be subject to removal and restoration, Landlord’s notice of approval will identify which portions of the
approved Alterations or Tenant Improvements are subject to removal and restoration on the termination of this Lease (“Required Restoration Items”) provided that Required Restoration Items may only include items that are not
consistent with a customary class A office build out. Provided that Tenant constructs Tenant Improvements consistent with the plans reviewed by Landlord prior to Lease execution, with regard to the initial Tenant Improvements, Tenant’s
restoration obligation shall consist of the following: (i) removal of all cabling (except as provided below), equipment (including supplementary cooling and environmental control equipment), cabinetry and partitions comprising the research and
development lab and quality assurance testing area, and (ii) removal of the interior stairway in the Premises and replacing the floor slab in the stairway opening. Tenant shall leave all such areas in broom clean condition, but shall not be
obligated to repaint, replace finish materials, reconfigure partitions, or reconfigure MEPT systems. With respect to any other Tenant Improvements or Alterations, Required Restoration Items may also include any cafeteria, any data center or server
rooms that are larger than those customarily located within general office space in a class A downtown office building, high density storage areas, locker rooms, tenant stairs and associated openings, and fitness centers and the areas impacted by
such removal shall be restored to a condition consistent with an open floor plan office. Landlord may at any time waive the duty to remove any Required Restoration Items in which case Tenant shall leave the Required Restoration Items in place at
surrender. Any Alterations made without Landlord approval are deemed to be Required Restoration Items. Notwithstanding the foregoing, Tenant shall have no obligation to remove cabling, to the extent if removal would not be practical without removing
wallboard or other permanent improvements, except that any cabling in the ceiling area or other areas required by code must be removed. 

15.2 Holding Over. This Lease shall terminate without further notice at the expiration of the Term. Any holding over by Tenant without
the express written consent of Landlord shall not constitute the renewal or extension of this Lease or give Tenant any rights in or to the Premises. If Tenant holds over without the express written consent of Landlord, the monthly Base Rent payments
to be paid by Tenant shall be increased to an amount equal to one hundred fifty percent (150%) of the then applicable Base Rent rate; provided, however, payment of such Base Rent by Tenant shall not be deemed to extend or renew
the Term. If Landlord consents in writing to permit Tenant to occupy the Premises beyond the expiration of the Term, that 

  
 43 

 
occupancy shall be construed to be a month-to-month tenancy upon all the terms and conditions of this Lease except that Base Rent during the hold over period shall be the amount stated in
Landlord’s consent to the hold over. During any hold over period, Tenant shall pay all other sums due hereunder including Additional Rent and parking charges. 

15.3 Failure to Surrender. If Tenant fails to surrender the Premises in the condition required by Section 15.1 upon the expiration
or termination of this Lease, Tenant shall indemnify and hold Landlord harmless from loss and liability resulting from that failure, including, without limiting the generality of the foregoing, any claims made by or damages or penalties payable to
any succeeding tenant. 
 16. ENTRY BY LANDLORD 

Tenant shall designate a person at the Premises with whom Landlord may coordinate entry and access. Landlord reserves, and shall at any and all
times have, the right to enter the Premises to inspect the same, to show the Premises to prospective purchasers, to post notices of nonresponsibility, to repair or maintain the Premises and any portion of the Building that Landlord may deem
necessary or desirable, without abatement of Rent. At any time when Tenant is in default hereunder, during the last year of the Term or at any time when Tenant requests consent to a Transfer, Landlord or its property manager or broker may enter the
Premises to show the Premises to prospective tenants. Except in emergencies or for regularly scheduled purposes (such as janitorial) Landlord shall give reasonable advance notice to Tenant’s designated representative (which may be email or
telephonic notice) before entering the Premises. Tenant waives any claim for damages, injury or inconvenience to or interference with Tenant’s business, any loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned by
Landlord’s exercise of its rights pursuant to this Article or any comparable provision in this Lease. Landlord shall at all times have and retain a key, security card or other access device with which to unlock all of the doors in, upon and
about the Premises, excluding Tenant’s vaults, safes and files, and Landlord shall have the right to use any and all means which Landlord may deem proper to open the doors to or in the Premises in an emergency, in order to obtain entry to the
Premises without liability to Tenant. Any entry to the Premises obtained by Landlord by any of these means, or otherwise, shall not under any circumstances be construed or deemed to be a forcible or unlawful entry into, or a detainer of, the
Premises, or an eviction of Tenant from the Premises or any portion thereof. 
 17. SUBORDINATION 

17.1 Lease Subordinate to Mortgages. Landlord represents that there is no lien of any mortgages, deeds of trust or ground lease
(“Major Encumbrance” ) in effect against the Property, the Building and/or the Premises as of the Effective Date. Upon request from Landlord or any ground lessor, mortgagee or beneficiary of a deed of trust (“Senior
Party”), Tenant, within ten (10) days of presentation, shall subordinate its interest under this Lease to any Major Encumbrance and all renewals, modifications, consolidations, replacements or extensions thereof, on condition that such
subordination shall be effectuated by execution and delivery of a commercially reasonable subordination agreement (“SNDA” ) which grants to Tenant the right not to be disturbed in its tenancy in the event of a foreclosure or ground
lease termination, and requires the Senior Party to perform the obligations of the Landlord under this Lease arising after 

  
 44 

 
the Senior Party takes title to and possession of the Property (subject to customary carevouts). Notwithstanding the foregoing, any Senior Party may at its sole election subordinate or cause to
be subordinated its Major Encumbrance to this Lease. In the event of the foreclosure or lease termination by voluntary agreement or otherwise, or the commencement of any judicial action seeking such foreclosure or termination, Tenant will attorn to
and recognize the Senior Party or any purchaser in foreclosure as Tenant’s landlord under this Lease. Upon request by such successor in interest, Tenant will execute and deliver a reasonable instrument confirming such attornment, and Senior
Party’s assumption of obligations under the Lease arising thereafter (subject to any carveouts contained in the SNDA). 
 17.2
Estoppel Certificates. Tenant shall, within ten (10) days of presentation, execute and deliver to Landlord any estoppel certificate requested by Landlord from time to time certifying, if such be true: (a) that Tenant is in occupancy;
(b) that this Lease is unmodified and in full force and effect, or if there have been modifications, that this Lease as modified is in full force and effect, and stating the modifications; (c) the dates to which the Rent and other charges
shall have been paid, (d) that there are no Rent offsets or claims; (e) that there exists no breach or default on the part of either Tenant or Landlord under this Lease; and (f) the answers to such other factual matters as may be
reasonably requested by the addressee thereof. 
 17.3 Default of Landlord. Landlord shall not be in default unless Landlord fails to
perform its obligations under this Lease within thirty (30) days after written notice by Tenant to Landlord and any Senior Party, or if such failure is not reasonably capable of being cured within such thirty (30) day period, Landlord
shall not be in default unless Landlord has failed to commence the cure and diligently pursue the cure to completion. In no event shall Landlord be liable for damages by reason of loss of profits, business interruption or other consequential damage.
Tenant waives all rights to terminate this Lease or to make repairs at the expense of Landlord or to offset against Rent, or exercise any right of self-help granted under any Applicable Law now or hereafter in effect except that, if Tenant obtains a
final judgment which Landlord fails to pay within thirty (30) days after the judgment becomes final, Tenant may offset the amount of such judgment against Base Rent payable to the entity against whom Tenant obtained the judgment. No such offset
right may be asserted against any successor or assign of the entity against whom Tenant obtained the judgment. 
 17.4 Mortgagee
Protection. In the event of any uncured default on the part of Landlord, Tenant shall not exercise any right to abate or offset rent or claim constructive eviction under this Lease unless Tenant has given each Senior Party, whose address shall
have been furnished to Tenant, at least sixty (60) days’ notice. During the sixty (60) day period, the Senior Party shall be entitled to commence to cure the default. If the default is not capable of being cured with due diligence
within the sixty (60) day period, the Tenant shall not exercise any remedy if the Senior Party shall have commenced to cure the default within the sixty (60) day period and shall pursue the cure with due diligence thereafter. If the
default is one which is not capable of cure by the Senior Party within the sixty (60) day period because the Senior Party is not in possession of the Building or Property, the sixty (60) day period shall be extended to include the time
needed to obtain possession of the Premises by the Senior Party by power of sale, judicial foreclosure, or other legal action required to recover possession. 

  
 45 

 18. NOTICES 

Any notice required or desired to be given under this Lease shall be in writing with copies directed as indicated herein and shall be
hand-delivered (by a party or by messenger) or by overnight courier or given by United States mail, certified mail, return receipt requested, postage prepaid. Any notice given by mail shall be deemed to have been given upon the earlier of
(a) receipt or refusal of delivery; or (b) three (3) days after such notice was deposited in the United States mail, certified mail, return receipt requested, postage prepaid, and properly addressed to the party. Any notice
hand-delivered or sent by courier shall be deemed given when delivered or refused. As of the Commencement Date, the addresses of Landlord and Tenant are as specified in the Lease Summary. Each party may change its notice address by notice given in
accordance with this Section. Notwithstanding the foregoing, legal notices and service of process may be given in accordance with applicable law for service of process. 

19. HAZARDOUS MATERIALS 
 19.1 Presence
and Use of Hazardous Materials. Except for Permitted Materials used in compliance with Section 5.1, Tenant shall not cause, or permit any Tenant Party to cause, any Hazardous Materials to be brought upon, stored, manufactured,
generated, blended, handled, recycled, treated, disposed, released or used on, under or about the Premises or the Property. Notwithstanding the foregoing, Tenant may use and store small quantities of routine office and janitorial supplies as
necessary to conduct its business activities on the Premises; provided, however, that with respect to any such Hazardous Materials (including all Permitted Materials): (a) upon request Tenant shall give Landlord notice of the
specific types and quantities of Hazardous Materials that Tenant uses and a description of how Tenant uses such Hazardous Materials, and (b) Tenant shall comply with all applicable Environmental Laws relating to their use, storage and disposal.
“Hazardous Materials” means any chemical, compound, substance, material, mixture, controlled substance, object, condition, waste, living organism or combination thereof which is now or may be in the future, (i) listed, defined,
characterized or regulated as “hazardous,” “extremely hazardous,” “dangerous,” “toxic,” or as a “pollutant” due to its radioactivity, ignitability, corrosivity, reactivity, explosivity, toxicity,
carcinogenicity, mutagenicity, phytotoxicity, infectiousness or other harmful or potentially harmful properties or effects on human health or the environment, or (ii) subject to notification, investigation, removal, remediation, closure,
monitoring, response actions or other similar requirements under applicable Environmental Laws. Hazardous Materials shall include without limitation, petroleum and petroleum products, asbestos, radon and polychlorinated biphenyls (PCBs).
“Environmental Laws” means any and all federal, state and local environmental, health and/or safety-related laws, statutes, regulations, common law, standards, judgments, injunctions, ordinances, rules, codes, orders, decrees,
directives, guidelines, permits or permit conditions, demands or requirements of any governmental agency, currently existing and as amended, enacted, issued or adopted in the future which are or may become applicable to Tenant, the Premises or the
Property. Tenant shall immediately notify Landlord of any investigation, claim, notice of violation or enforcement proceeding made or instituted against Tenant, the Premises or the Property concerning a Hazardous Material (including all Permitted
Materials) or any alleged violation by Tenant or any Tenant Party of any Environmental Law. 

  
 46 

 19.2 Default and Indemnification. Tenant shall indemnify, protect, defend (by counsel
reasonably acceptable to Landlord) and hold harmless the Indemnitees from and against any and all claims, causes of action, damages, penalties, obligations, demands, judgments, awards, settlements, deficiencies, suits, proceedings, fines, taxes,
costs, liabilities, losses, costs and expenses (including without limitation, the fees and disbursements of attorneys and consultants) of any kind or nature, whether or not accrued or fixed, absolute or contingent, due or to become due, which are
assessed against or incurred by any Indemnitee by reason of or arising out of or in connection with (a) Tenant’s and/or any Tenant Party’s breach of any representation, warranty or covenant in this Section or in
Section 5.1 or (b) any actual or alleged presence, release or disposal of Hazardous Materials (including all Permitted Materials) by Tenant or any Tenant Party on, under or about the Premises, the Property or other nearby property
during the Term. This indemnity shall include, without limitation, (i) the cost of any required or necessary notification, inspection, repair, removal, remediation, detoxification or other response action, and the preparation of any closure or
other required plans, whether such action is required or necessary prior to or following the termination of this Lease, (ii) any diminution in the value of the Premises, the Building or the Property, and (iii) any increased marketing costs
for the Premises or the Building. Neither the written consent by Landlord to the presence of Hazardous Materials (including Permitted Materials) on, under or about the Premises, nor the strict compliance by Tenant with all Environmental Laws shall
excuse Tenant from Tenant’s indemnification obligation. Tenant’s indemnity shall survive the termination of this Lease. 
 19.3
Inspections. Landlord and its designees may, from time to time, enter and inspect the Premises and conduct any tests and investigations necessary or desirable to determine Tenant’s compliance with this Article. If such tests indicate the
presence of any environmental condition that Landlord reasonably believes was caused by Tenant or first occurred during the Term, Tenant shall reimburse Landlord for the cost of conducting such tests. The phrase “environmental
condition” shall mean any adverse condition relating to any Hazardous Materials (including Permitted Materials) or the environment, including surface water, groundwater, drinking water supply, land, surface or subsurface strata or the
ambient air and includes air, land and water pollutants, noise, vibration, light and odors. In the event of any such environmental condition, Tenant shall promptly take any and all steps necessary to rectify the same or shall, at Landlord’s
election and without relieving Tenant of its primary liability and obligation hereunder and under applicable Laws, reimburse Landlord or its designee, upon demand, for the cost to Landlord or its designee of performing rectifying work. 

20. SIGNS 
 20.1 Initial Signage.
Landlord shall provide the following signs in Building standard format (a) Tenant’s initial identifying information on the Building directory, and (b) Tenant’s name on the Building entry sign and shall deduct the cost from the
Allowance. Revisions to such directory information and signage shall be at Tenant’s sole cost and expense. For each whole floor included in the Premises, Tenant may install custom signage with its logo in the elevator lobby. For each floor on
which Tenant leases at least half of the floor, Tenant may install prominent lobby signage approved by Landlord. If Tenant expands in the Building, for each floor on which on which Tenant leases less than half of the floor, Landlord shall provide
Building standard lobby directory signage. 

  
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 In addition, so long as Tenant leases and occupies the entire Initial Premises, Tenant shall have
the right, at Tenant’s cost, to install signage on north side of the Building provided that the signage may not distract from or interfere with visibility of the ground floor retail signage. For purposes of the foregoing, Tenant shall not be
deemed to occupy any space that has been sublet unless the sublessee qualifies as a Permitted Transferee. The right to exterior signage is personal to the Tenant originally named herein and any Permitted Transferee who has assumed all of
Tenant’s obligations under this Lease whose name is acceptable to Landlord in its reasonable discretion and may not be used by or for the benefit of any other party. All exterior signage shall be contingent on receipt of permits and approvals
from the City of Seattle. 
 20.2 Additional Signage. Except as provided in Section 20.1, Tenant shall not, without
obtaining the prior written consent of Landlord install, paint, display, inscribe, place, affix or otherwise attach any sign, fixture, advertising material, notice, lettering or direction on any part of the outside of the Premises or on any part of
the inside of the Premises which is visible from the outside of the Premises or on or about any other portion of the Building. If Landlord consents to the installation of any sign (including the signage under Section 20.1) or other
advertising material, the location, size, design, color and other physical aspects thereof shall be subject to Landlord’s prior written approval and shall be in accordance with any sign program applicable to the Building. Landlord has approved
the signage conceptually shown on Exhibit F attached hereto provided that Tenant must obtain Landlord’s approval of the actual plans and specification prior to installation of such signage. In addition to any other requirements of this
Section, the installation of any sign or other advertising material by or for Tenant must comply with all applicable Laws and any covenants, conditions or restrictions affecting the Property, if any. With respect to any permitted sign installed by
or for Tenant, Tenant shall maintain such sign or other advertising material in good condition and repair and shall remove such sign or other advertising material on the expiration or earlier termination of the Term and restore any damage caused by
the installation or removal thereof (including restoration of discolored surfaces to match adjacent areas and patching of holes). The cost of any sign or advertising material and all costs associated with the installation, maintenance and removal
thereof shall be paid for solely by Tenant. If Tenant fails to properly maintain or remove any sign or other advertising material, Landlord may do so at Tenant’s expense. Any cost incurred by Landlord in connection with such maintenance or
removal shall be deemed Additional Rent and shall be paid by Tenant to Landlord within ten (10) days following notice from Landlord. Landlord may remove any unpermitted sign or advertising material without notice to Tenant, and the cost of such
removal shall constitute Additional Rent and shall be paid by Tenant within ten (10) days following notice from Landlord. Landlord shall not be liable to Tenant for any damage, loss or expense resulting from Landlord’s removal of any sign
or advertising material in accordance with this Section. The provisions of this Section shall survive the expiration or earlier termination of the Term. Landlord may remove any signage as and when necessary to perform repairs and maintenance. 

21. DELAYS 
 If either party is delayed in
the performance of any covenant of this Lease (excluding Tenant’s obligation to make any payment of Rent) because of any Force Majeure Causes, performance of that covenant shall be excused for the period of such delay. Force Majeure Causes
shall not affect Tenant’s obligation to pay Rent or the length of the Term. Force Majeure 

  
 48 

 
Causes that delay completion of the Base Building shall not extend the date of Tenant’s right to terminate under Section 2.1.2. The term “Force Majeure Causes”
shall mean and include: acts of the other party, earthquakes, floods, weather and the elements, war, riot, labor disputes (excluding disputes with such party’s own employees), governmental actions or inaction (including permitting time),
inability to procure or general shortage of labor or materials in the normal channels of trade, delay in transportation, delay in inspections, and any other cause beyond the reasonable control of the party so obligated, whether similar or dissimilar
to the foregoing. 
 22. MISCELLANEOUS 

22.1 USA Patriot Act Disclosures. Pursuant to United States Presidential Executive Order 13224 signed on September 24, 2001, and
entitled “Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism” (“Executive Order”), Landlord is required to ensure that it does not transact business with
persons or entities determined to have committed, or to pose a risk of committing or supporting, terrorist acts and those identified on the list of Specially Designated Nationals and Blocked Persons (“List”), generated by the Office
of Foreign Assets Control of the U.S. Department of the Treasury. Tenant represents to Landlord that (i) neither Tenant nor any person or entity that directly owns ten percent (10%) or greater equity interest in it nor any of its officers
or directors or managing member (collectively the “Covered Parties”) is a person or entity with whom U.S. persons or entities are restricted from doing business under regulations of the Office of Foreign Asset Control
(“OFAC”) of the Department of the U.S. Treasury (including those named on the List) or under the Executive Order or other governmental action, and (ii) that throughout the Term, Tenant and each of the Covered Parties shall
comply with the Executive Order. If Landlord determines that Tenant or any Covered Person is on the List and Tenant cannot remedy such situation within thirty (30) days following notice from Landlord (or such longer period as may be reasonably
necessary in order to remedy such situation, provided that Tenant promptly commences and thereafter diligently prosecutes its efforts to remedy the situation), Landlord reserves the right to declare such failure as default hereunder and/or take all
other actions necessary to comply with the requirements of the Executive Order. The provisions of this paragraph will survive termination of this Lease. 

22.2 Financial Statements. If Tenant is not a publicly traded company whose financial statements are readily available, Tenant shall,
within ten (10) days of Landlord’s written request, furnish Landlord with Tenant’s most recent financial statements, dated no earlier than one (1) year before such request, certified as accurate by Tenant, or, if available,
audited financial statements prepared by an independent certified public accountant with copies of the auditor’s statement, reflecting Tenant’s then current financial condition, in Tenant’s customary form. If the financial statements
are not available to the general public, Landlord shall make commercially reasonable efforts to keep such financial statements confidential; provided, however, Landlord may disclose such information to its officers, directors,
employees, attorneys, accountants, and other consultants and advisors to the extent such persons need to know such information and to any actual or prospective partners or members, investors, purchasers, and lenders provided such parties are first
informed of the confidential nature of such information and bound by a duty of confidentiality. In addition, the financial statements may be divulged by Landlord if required by law or in any administrative or judicial proceeding in which Landlord is
required to divulge such information. 

  
 49 

 22.3 Contingency. Intentionally omitted. 

22.4 Building Development. Tenant acknowledges that some portion of the Building or Common Areas may be under construction after the
Term commences. Tenant shall have no claim against Landlord for any loss or damage relating to such construction or lack of construction except as provided in Section 2.1.2 above. 

22.5 Headings. The headings used in this Lease are for convenience only. They shall not be construed to limit or to extend the meaning
of any part of this Lease. 
 22.6 Amendments. Any amendments or additions to this Lease shall be in writing by the parties hereto,
and neither Tenant nor Landlord shall be bound by any verbal or implied agreements. 
 22.7 Time of the Essence. Time is expressly
declared to be of the essence of this Lease. 
 22.8 Entire Agreement/No Recording. This Lease contains the entire agreement of the
parties hereto with respect to the matters covered hereby, and no other agreement, statement or promise made by any party hereto, or to any employee, officer or agent of any party hereto shall be binding or valid. Neither this Lease nor a memorandum
of this Lease may be recorded without the prior written consent of Landlord. 
 22.9 Language. The word “person”
whenever used shall include individuals, firms, associations and corporations and any other legal entity, as applicable. The word “including” shall mean “including but not limited to.” The language in all parts of this
Lease shall in all cases be construed as a whole and in accordance with its fair meaning, and shall not be construed strictly for or against Landlord or Tenant. In any instance in which Landlord has agreed to act reasonably under this Lease,
Landlord is agreeing to act in a manner consistent with the standards followed by large institutional owners of commercial real estate and may consider its own subjective interests, including the impact of the requested action on the value of the
Building or on Landlord’s income. Except where a different standard is specifically stated, Landlord may act or refuse to act in its sole and subjective discretion. 

22.10 Invalidity. If any provision of this Lease shall be deemed to be invalid, void or illegal, it shall in no way affect, impair or
invalidate any other provision hereof. 
 22.11 Computation of Time. Unless business day is specified, the word “day”
means “calendar day”, and the computation of time shall include all Saturdays, Sundays and holidays for purposes of determining time periods under this Lease. Business days shall mean Monday through Friday of each week, excluding national
holidays or other holidays designated by Landlord that are commonly recognized by other office buildings in the area where the Building is located. Where a time period is stated as a number of days or months following a certain event, the day on
which the triggering event occurs shall not be included when calculating the time period. 

  
 50 

 22.12 Applicable Law. This Lease shall be interpreted and construed under and pursuant to
the laws of the State of Washington. 
 22.13 Attorneys’ Fees. If either party requires the services of an attorney in connection
with enforcing the terms of this Lease or if suit is brought for the recovery of any Rent due under this Lease for the breach of any covenant or condition of this Lease, or for the restitution of the Premises to Landlord, and/or eviction of Tenant
during the Term or after the expiration thereof, the prevailing party will be entitled to a reasonable sum for attorneys’ fees, witness fees, and other court costs, both at trial and on appeal. Landlord shall also be entitled to recover from
Tenant any legal fees incurred in connection with any bankruptcy proceeding affecting Tenant or any Guarantor. 
 22.14 Broker’s
Commission. Tenant represents and warrants that it has incurred no liabilities or claims for brokerage commissions or finder’s fees in connection with the negotiation and/or execution of this Lease and that it has not dealt with or has any
knowledge of any real estate broker/agent or salesperson in connection with this Lease except for those identified in the Lease Summary whose commission will be paid for by Landlord in accordance with a separate written agreement between Landlord
and the brokers. Tenant agrees to indemnify, defend, and hold Landlord harmless from and against, any other claim for a commission in connection with this Lease arising out of a relationship with Tenant. 

22.15 Substitution of Premises. Intentionally omitted. 

22.16 Advertising. Except as an identifying address for the Premises, Tenant shall not use photographs, drawings, or other renderings of
the Building or the Landlord’s logo or trade name, or any other proprietary name, mark or symbol of Landlord without first obtaining Landlord’s prior written consent. 

22.17 Transfer of Landlord’s Interest. If Landlord sells, conveys or transfers its interest in the Property, and the successor
assumes all of Landlord’s future obligations hereunder in writing, Landlord shall automatically be released from any future liability to Tenant under this Lease and Tenant agrees to look solely to Landlord’s successor in interest for
performance of Landlord’s covenants. If Tenant provides any security to secure Tenant’s performance of this Lease, Landlord shall transfer or credit such security to Landlord’s successor in interest, and thereupon Landlord shall be
discharged from any further liability for the return of such security. 
 22.18 Limitation of Landlord’s Liability. None of the
direct or indirect members, managers, partners, shareholders, directors or officers of Landlord (collectively, the “Ownership Parties”) shall be personally liable for the performance of Landlord’s obligations under this Lease.
Tenant shall look solely to Landlord to enforce Landlord’s obligations hereunder and shall not seek any damages against any of the Ownership Parties because of any breach of Landlord’s obligations hereunder. Landlord’s liability under
this Lease shall be limited to Landlord’s interest in the Building and the proceeds of any applicable liability insurance coverage carried by or for Landlord and Tenant shall not look to any other property or assets of Landlord or the property
or assets of any of the Ownership Parties in seeking either to enforce Landlord’s obligations under this Lease or to satisfy a judgment against Landlord. Any judgment taken against any Ownership Party may be vacated and set aside at any time
and no writ of execution may be levied against the assets of any Ownership Party. These covenants and agreements are enforceable by Landlord and also by any Ownership Party. 

  
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 22.19 Counterparts. This Lease may be executed by the parties in counterparts, and each
counterpart Lease shall be deemed to be an original hereof. 
 22.20 Quiet Enjoyment. Subject to the provisions of this Lease and
conditioned upon performance of all of the provisions to be performed by Tenant hereunder, Landlord shall secure to Tenant during the Term the quiet and peaceful possession of the Premises. 

22.21 Authority. Each party hereto warrants that it has the authority to enter into this Lease and that the signatories hereto have the
authority to bind Landlord and Tenant, respectively. 
 22.22 Rules and Regulations. Tenant agrees to abide by and adhere to any rules
and regulations for the Building, and all amendments thereto, which may be promulgated from time to time by Landlord which do not materially change the provisions of this Lease. 

22.23 Lease Summary and Exhibits. The Lease Summary and all Exhibits to this Lease are incorporated herein by reference. 

22.24 Survival. Those provisions of this Lease which, in order to be given full effect, require performance by either Landlord or Tenant
following the termination of this Lease shall survive termination of this Lease, including all indemnities and remedies contained herein. 

IN WITNESS WHEREOF, this Office Lease is executed on the day and year first written above. 

 

			
	LANDLORD:
	
	400 FAIRVIEW LLC,
	a Delaware limited liability company
		
	By:	 	/s/ Lisa Picard
	 Name:
	 	Lisa Picard
	 Title:
	 	Manager
	
	TENANT:
	
	IMPINJ, INC.,
	a Delaware corporation
		
	By:	 	/s/ Evan Fein
	 Name:
	 	Evan Fein
	 Title:
	 	CFO

  
 52 

 LANDLORD ACKNOWLEDGEMENT 

 

					
	STATE OF WASHINGTON	  	)	  	
		  	) ss.	  	
	COUNTY OF KING	  	)	  	

 On this 10th day of December, 2014, before me, a Notary
Public in and for the State of Washington, personally appeared Lisa Picard, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed this instrument, on oath stated that he/she was authorized to
execute the instrument, and acknowledged it as the Manager of 400 Fairview LLC, to be the free and voluntary act and deed of said limited liability company for the uses and purposes mentioned in the instrument. 

IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day and year first above written. 

 

					
	

	 		  	 /s/ Marlene S. Bailey

Notary Public in and for the State of Washington, residing
 at
Seattle, WA
 My commission expires: 4/18/2016
  

Marlene Bailey

     

[Type or Print Notary Name]

  
 53 

 TENANT ACKNOWLEDGEMENT 

 

					
	STATE OF WASHINGTON	  	)	  	
		  	) ss.	  	
	COUNTY OF KING	  	)	  	

 On this 9th day of December, 2014, before me, a Notary
Public in and for the State of Washington, personally appeared Evan Fein, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed this instrument, on oath stated that he/she was authorized to
execute the instrument, and acknowledged it as the CFO of IMPINJ, INC., to be the free and voluntary act and deed of said corporation for the uses and purposes mentioned in the instrument. 

IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day and year first above written. 

 

					
	

	 		  	 /s/ Stacy L. Jones

Notary Public in and for the State of Washington, residing

at Seattle, WA
 My commission expires: 3/17/18

 
 Stacy L. Jones

 
 [Type or Print
Notary Name]

  
 54 

 Exhibit A 

FLOOR PLAN 
  

 

  
 A-1 

 

 

  
 A-2 

 

 

  
 A-3 

 

 

  
 A-4 

 Exhibit B 

PROPERTY LEGAL DESCRIPTION 
 LOTS 1
THROUGH 5, BLOCK 4, FAIRVIEW HOMESTEAD ASSOCIATION, FOR THE BENEFIT OF MECHANICS AND LABORERS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 1 OF PLATS, PAGE(S) 119, IN KING COUNTY, WASHINGTON, AND LOT 12, BLOCK 4, SORENSON’S ADDITION TO THE
CITY OF SEATTLE, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 1 OF PLATS, PAGE(S) 218, IN KING COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS: 
 BEGINNING AT
A POINT ON THE EAST MARGIN OF FAIRVIEW AVENUE NORTH, SAID POINT BEING THE SOUTHWEST CORNER OF LOT 5, BLOCK 4, FAIRVIEW HOMESTEAD ASSOCIATION, FOR THE BENEFIT OF MECHANICS AND LABORERS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 1 OF PLATS,
PAGE(S) 119, RECORDS OF KING COUNTY, WASHINGTON, AND BEARING NORTH 00°54’01” EAST A DISTANCE OF 30.00 FEET FROM THE CENTERLINE OF HARRISON STREET; THENCE NORTH 00°54’01” EAST ALONG SAID EAST MARGIN A DISTANCE OF 360.00
FEET TO THE SOUTH MARGIN OF REPUBLICAN STREET; THENCE SOUTH 89°06’14” EAST ALONG SAID MARGIN A DISTANCE OF 119.67 FEET TO THE WEST MARGIN OF AN ALLEY; THENCE SOUTH 00°53’23” WEST ALONG SAID MARGIN A DISTANCE OF 360.00
FEET TO THE SOUTHEAST CORNER OF SAID LOT 5; THENCE NORTH 89°06’15” WEST ALONG THE SOUTH LINE OF SAID LOT 5 A DISTANCE OF 119.75 FEET TO THE TRUE POINT OF BEGINNING; 

EXCEPT THAT PORTION THEREOF CONVEYED TO THE CITY OF SEATTLE BY WARRANTY DEED RECORDED UNDER RECORDING NUMBER 20090318001278. 

SUBJECT TO ALL MATTERS OF RECORD FROM TIME TO TIME 

  
 B-1 

 Exhibit C 

TENANT IMPROVEMENT WORK LETTER 

TENANT BUILDS 
 1. Work
Letter Definitions. Capitalized Terms used in this Work Letter and not defined herein shall have the meanings given in the Lease. The following terms, as used in this Exhibit C and elsewhere in the Lease, shall have the following
meanings: 
 (a) “Allowance” has the meaning given in Paragraph 3 below. 

(b) “Architect” means an architect or space planner selected by Tenant and approved by Landlord which approval shall not be
unreasonably withheld. 
 (c) “Building Standard Materials” means materials that are consistent in terms of quantity and
quality with the standards established by Landlord for interior improvements in the Building from time to time. All Tenant Improvements must be equal to or better than the Building Standard Materials. 

(d) “CAD” means a computer assisted design format reasonably acceptable to Landlord. 

(e) “Construction Contract” means the contract between the Tenant and the Contractor. 

(f) “Construction Drawings” has the meaning given in Paragraph 5 below. 

(g) “Contractor” means the contractor selected by Tenant to complete the Tenant Improvements and approved by Landlord which
approval shall not be unreasonably withheld. The Contractor must be bondable and have experience with green building techniques and requirements. 

(h) “FF&E” means Tenant’s furniture, fixtures and equipment including workstations, demountable partitions, office
equipment, telecommunications equipment and cabling. 
 (i) “Space Plan” has the meaning given in Paragraph 4 below.

 2. Architect. Tenant shall retain the Architect and shall cause the Architect to design the Tenant Improvements, to complete the
Space Plan and the Construction Drawings and to obtain all required building or other permits to allow construction of the Tenant Improvements in the Premises. Tenant or Architect, on Tenant’s behalf, shall retain the consultants designated by
Landlord to design and engineer any changes to the Building’s structural, mechanical, electrical, plumbing, life safety, sprinkler, and HVAC systems included in the Tenant Improvements. Tenant and Architect are solely responsible for ensuring
that the Tenant Improvements comply with all applicable Laws and are consistent with existing conditions in the 

  
 C-1 

 
Premises and the Base Building and comply with any applicable fire-safety and insurance requirements. Landlord shall provide Tenant and its Architect with draft plans for the Base Building and
will direct Landlord’s architect to coordinate with the Architect in connection with preparation of the Space Plan and Construction Drawings. All fees payable to Landlord’s architect to coordinate with Architect shall be deducted from the
Allowance. 
 3. Payment for Tenant Improvements. 

(a) Tenant’s Responsibility. Tenant shall pay for all costs designing, permitting and constructing the Tenant Improvements except
that Landlord shall contribute the amount of the Allowance as provided below. Landlord shall not be required to advance any of Landlord’s funds to pay the cost of Tenant Improvements except as provided below. If any lien is filed against the
Property or the Premises relating to the Tenant Improvements, Landlord may require Tenant to suspend or terminate construction of the Tenant Improvements until such lien is resolved, by bond or payment. Landlord may elect to disburse the Allowance
directly to the Contractor, subcontractors, architects or engineers. 
 (b) Reimbursement and Compensation for Landlord Expenses.
Tenant shall reimburse Landlord for all out-of-pocket costs incurred by Landlord in connection with the design and review of the Space Plan and Construction Drawings and for coordination and oversight of Tenant’s construction and installation
of the Tenant Improvements. If Tenant retains Landlord’s Contractor to construct the Tenant Improvements, Landlord shall not charge Tenant any administrative or oversight fee in connection with the Tenant Improvements. If Tenant does not retain
Landlord’s Contractor to construct the Tenant Improvements, Tenant shall pay Landlord an administrative and oversight fee equal to two percent (2%) of the cost of the Tenant Improvements. Landlord may obtain any reimbursement or payment
required hereunder by deducting such amount from the Allowance. 
 (c) Cost of the Tenant Improvements. The cost of the Tenant
Improvements shall include all out of pocket costs associated with the design, permitting and construction of the Tenant Improvements, including, without limitation, building permit fees, payments to Architect and any other engineering or design
consultants for services, premiums for insurance and bonds, permit costs, inspection fees, labor and materials, and sales tax (“collectively, the “Tenant Improvement Costs”). Prior to commencing work on the Tenant Improvements,
Landlord and Tenant, both acting reasonably, shall prepare an agreed estimate of the Tenant Improvement Costs. If the Tenant Improvement Costs are reasonably anticipated to exceed the Allowance, Landlord may withhold authorization for work to
proceed until Tenant has furnished Landlord with reasonable evidence that Tenant has made suitable provision to pay all of the Tenant Improvements Costs in excess of the Allowance and to discharge any liens that may arise therefrom. 

(d) Allowance. After Tenant has paid all costs of the Tenant Improvements in excess of the Allowance, Landlord shall pay to or on behalf
of Tenant an improvement allowance in the amount set forth in the Lease Summary (the “Allowance”) to reimburse Tenant for a portion of the costs incurred by Tenant in connection with its initial Tenant Improvements to the Premises.
In addition to the Allowance, if not paid prior to execution of this Lease, Landlord shall pay a space planning allowance in the amount of Ten Thousand Two Hundred 

  
 C-2 

 
Seventy-five Dollars ($10,275) to Weaver Architects for work on test fits and initial space planning. Tenant must spend the Allowance and request disbursement within one (1) year after the
Commencement Date. The Allowance may only be spent on Tenant Improvement Costs; provided, however, if the entire Allowance is not used on Tenant Improvement Costs and Tenant Improvements have been completed in all of the Initial
Premises, Tenant may use up to Seven and 00/100 Dollars ($7.00) per square foot of the Initial Premises of the remaining Allowance to install cabling and to purchase and install FF&E. If the cost of the Tenant Improvements exceeds the Allowance,
all additional costs shall be Tenant’s responsibility. 
 (e) Disbursement. The Allowance shall be paid by Landlord to Tenant or
its contractor in multiple draws (but not more frequently than once a month) based on work completed and expenses incurred prior to the date of a draw request. Each disbursement shall be equal to the total costs incurred to date for which the
supporting documentation described below has been submitted multiplied by a percentage equal to the Allowance divided by the total anticipated cost of the Tenant Improvements, less a five percent (5%) retainage. 

Each disbursement will be processed and paid to Tenant or its Contractor, subcontractors or suppliers within thirty (30) days after all
of the following conditions have been satisfied: (a) completion of Tenant Improvements to be paid for by the draw proceeds substantially in accordance with the plans approved by Landlord, (b) Landlord’s receipt of invoices for the
costs and expenses for which payment is sought, including such appropriate back-up documentation as Landlord may reasonably request, (c) Landlord’s receipt of conditional lien releases from all contractors, subcontractors and suppliers
with respect to the work to be paid for from the draw request, and (d) Landlord’s receipt of final lien releases from all contractors, subcontractors and suppliers with respect to the work covered by the prior draw request. 

The final draw request including the retainage shall not be disbursed until all of the following conditions have been satisfied:
(i) completion of Tenant Improvements in the entire Initial Premises substantially in accordance with the plans approved by Landlord, (ii) Landlord’s receipt of invoices for all costs and expenses for which reimbursement is sought,
including such appropriate backup documentation as Landlord may reasonably request, (iii) Landlord’s receipt of final lien releases from all contractors, subcontractors and suppliers, and (iv) Landlord’s receipt of as-built plans
for the improvements, the O&M manual, and a copy of Tenant’s certificate of occupancy or other evidence that the City of Seattle has signed off on all construction and has authorized Tenant to occupy the Premises 

(f) Restrictions. Notwithstanding anything to the contrary contained in this Lease, Landlord shall not be obligated to disburse any
portion of the Allowance during the pendency of any of the following: (i) Landlord has received written notice of any unpaid claims relating to any portion of the work or materials in connection therewith, other than claims which will be paid
in full from such disbursement, (ii) there is an unbonded lien outstanding against the Property or the Premises or Tenant’s interest therein as a result of the work performed by Tenant, (iii) the conditions to the advance of the
Allowance are not satisfied, or (iv) there is an Event of Default by Tenant then outstanding under this Lease. 

  
 C-3 

 (g) Additional TI Costs. If Tenant uses the entire Allowance on Tenant Improvement Costs
then Landlord shall, at Tenant’s option, provide an additional cash allowance (the “Additional Advance”) in the amount of up to Fifteen Dollars ($15.00) per square foot of Rentable Area in the Premises, to be amortized and
repaid over the Initial Term of the Lease on a straight-line basis, together with interest at a rate of ten percent (10.00%) per annum. If Tenant elects to use the Additional Advance, Tenant shall notify Landlord in writing and the parties
shall execute at Landlord’s option, an amendment to this Lease to memorialize the new rent schedule including the amortization of the Additional Advance or a promissory note in the amount of the Additional Advance. Landlord shall have no
obligation to disburse the Additional Advance until such amendment or promissory note is executed and delivered. The Additional Advance may only be used for Tenant Improvements in the Initial Premises and may not be used for FF&E or later
Alterations. The Additional Advance may be prepaid at any time, in which case the parties shall execute such documentation as is reasonably required to evidence and reflect such prepayment. 

4. Completion of Plans. 

(a) Space Plan. Tenant shall cause the Architect to develop a space plan showing the layout of the Tenant Improvements with a
designation of all offices, rooms and other partitioning, their intended use, and a general description of the equipment to be contained therein (the “Space Plan”). Landlord shall, review, comment on and return the Space Plan to
Tenant. Landlord’s failure to respond to the Space Plan shall not constitute approval by Landlord of the design or specifications shown thereon. After the Space Plan is approved by Landlord, Tenant shall cause Architect to complete the
Construction Drawings pursuant to the following paragraph. If the Space Plan is returned to Tenant with corrections or comments, Tenant shall cause Architect to revise the Space Plan, taking into account Landlord’s reasonable corrections and
comments, and shall resubmit a revised Space Plan to Landlord. The same procedure shall be repeated until Landlord approves the Space Plan. 

(b) Construction Drawings. Tenant shall cause Architect to prepare a final and complete set of plans (including architectural,
structural, mechanical, electrical and plumbing) and specifications describing all finishes in a form which is sufficiently detailed to submit for permits, and serve as the basis for a contractor to complete the Tenant Improvements (the
“Construction Drawings”). The Construction Drawings shall be consistent with and a logical extension of the Space Plan approved by Landlord. Tenant shall deliver to Landlord two (2) sets of full size prints of the Construction
Drawings. Tenant shall also deliver to Landlord the Construction Drawings in an electronic format acceptable to Landlord. Landlord shall review, comment on, and return the Construction Drawings to Tenant. Landlord’s failure to respond to the
Construction Drawings shall not constitute approval by Landlord of the design or specifications shown thereon. If the Construction Drawings are returned to Tenant with comments or corrections, Architect shall revise the Construction Drawings, taking
into account Landlord’s reasonable comments and corrections and shall resubmit revised plans to Landlord for review. The same procedure shall be repeated until Landlord approves the Construction Drawings. When the Construction Drawings are
approved by Landlord and Tenant, the parties shall each acknowledge their approval by signing or initialing each sheet of one copy of Construction Drawings. Tenant shall provide Landlord with a sufficient number of copies to allow Landlord to price
the Landlord’s Work. Tenant shall submit the approved Construction Drawings to the City of Seattle for permitting. 

  
 C-4 

 (c) Tenant Modifications. If necessary, Tenant shall cause Architect to update the
Construction Drawings to address any reasonable comments or concerns raised by Landlord during the review and permitting process, to obtain permits and to correct any omissions or inconsistencies identified during the bidding or construction
process. Tenant shall not modify the Tenant Improvements specified in the approved Construction Drawings without first obtaining Landlord’s prior written consent, which shall be subject to the terms of Paragraph 5 below. If Tenant
desires to or is required by any governmental authority to change or revise the Tenant Improvements specified by the approved Construction Drawings, Tenant shall submit such change in writing for Landlord’s approval, which shall be subject to
the terms of Paragraph 5 below. Any request for a change shall be accompanied by plans, specifications and details as may be required to fully identify and quantify such changes. If Landlord approves such changes, then Tenant shall provide
Landlord with a revised set of Construction Drawings incorporating the changes. Tenant shall be responsible for all costs of such changes and the time needed to prepare revised plans and institute the changes shall be Tenant Delay. The actual cost
of any approved changes shall be paid by Tenant to Landlord upon demand, unless the Allowance is sufficient to pay such costs. 
 5.
Landlord’s Responsibilities; Standard for Approvals. Landlord shall not be required to provide any services in connection with the Tenant Improvements except as described in this Work Letter. Except as provided herein, any equipment or work
provided by Landlord for or at the request of Tenant shall be at the expense of Tenant. Landlord shall respond to each submission of plans or any requested change to previously approved plans within ten (10) calendar days. In any instance in
which Landlord’s approval of any plans or changes is required, such approval shall not be unreasonably withheld except that Landlord reserves the right to approve in its sole discretion any elements of the Space Plan, Construction Drawings or
modifications thereto that (a) affect the structural portions of the Building or its electrical, plumbing, mechanical, HVAC, security, communications and life safety systems; (b) affect the exterior appearance of the Building; (c) are
visible from outside the Premises; (d) do not comply with applicable Laws, (e) trigger any requirement for upgrades or code compliance in any other part of the Building, or (f) are not consistent with the Green Standards. Tenant
acknowledges and agrees that Landlord’s review and approval of the Space Plan and Construction Drawings are solely for the benefit of Landlord and to protect the interests of Landlord in the Building and the Premises, and Landlord shall not be
the guarantor of, nor in any way or to any extent responsible for, the correctness or accuracy of the Space Plan or Construction Drawings or of the compliance of the Space Plan or Construction Drawings with applicable Laws or of the conformance or
compatibility of the Space Plan or Construction Drawings with existing conditions or the base Building. 
 6. Completion of Tenant
Improvements. The Tenant Improvements shall be designed, constructed, installed or provided by Tenant in accordance with this Exhibit and the construction rules, regulations and procedures adopted by Landlord from time to time with respect to
construction in the Building. Tenant shall be solely responsible for bidding the Tenant Improvement work. Landlord’s Contractor shall be included on Tenant’s bid list for the Tenant Improvements. 

  
 C-5 

 (a) Existing Conditions. Prior to commencement of construction of the Tenant Improvements,
Tenant shall require and be solely responsible for ensuring that its Contractor or the Architect, and its engineers and contractors verify all readily apparent existing conditions in the Building, insofar as they are relevant to, or may affect,
construction of the Tenant Improvements. Tenant shall be solely responsible for the completeness of all plans for the Tenant Improvements and for conformity of the plans with the Base Building and applicable Laws. Notwithstanding that the
Construction Drawings may be reviewed or approved by Landlord and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s agents or representatives, Landlord shall not be responsible for any omissions
or errors contained in the Construction Drawings. Tenant shall be solely responsible for, and Landlord specifically reserves the right to require Tenant to make at any time and from time to time during the construction of the Tenant Improvements,
any changes to the Space Plan and/or the Construction Drawings necessary (i) to obtain any permit, (ii) to comply with all applicable Laws, (iii) to achieve the compatibility, as reasonably determined by Landlord, with the Base
Building, (iv) to avoid impairing or voiding any third-party warranties, (v) to respond to existing conditions, or (vi) to comply with the terms of this Lease. 

(b) Contract. Tenant shall enter into a commercially reasonable form of Construction Contract with Contractor for construction of the
Tenant Improvements containing industry standard warranties and remedies. Tenant shall not agree to any substantial change orders without Landlord’s prior written consent (which shall be subject to the standards set forth in Paragraph 5
above). Prior to entering into the Construction Contract, Tenant shall submit to Landlord a list of proposed subcontractors by trade together with a draft of the Construction Contract. Landlord may require Tenant to contract with Landlord’s
base building subcontractors for any mechanical, electrical, plumbing, life safety, structural, and HVAC work in the Premises. Landlord shall review and approve or provide comments on the draft Construction Contract, subcontracts and the list of
proposed subcontractors, within a 10 days’ time after Landlord’s receipt thereof but silence shall not be deemed to be approval. Neither Tenant nor Contractor shall use subcontractors other than those on the list approved by Landlord
without Landlord’s consent. 
 (c) Construction Meetings. Prior to commencing work in the Premises, Tenant shall schedule a
meeting with Landlord and its architect, Contractor and Architect to review in detail the scope of work, schedule, and procedures and other details to ensure that the work may proceed without material disturbance to Landlord or other tenants working
on improvements in their premises. Thereafter, the same representatives shall meet as needed to plan and discuss progress. Landlord shall be entitled to participate in the regularly scheduled meetings with Tenant’s construction team. 

(d) Access. Landlord shall provide Tenant with access and entry to the Premises only after Tenant has provided (i) proof of all
insurance required hereunder by Tenant and the Contractor and its subcontractors, (ii) copies of all permits necessary for construction of the Tenant Improvements, and (iii) copies of the final Construction Drawings and the executed
Construction Contract. Landlord may immediately suspend Tenant’s right of access at any time if a default occurs under the Lease. Upon and following any entry into the Premises by Tenant prior to the commencement of the Term, Tenant shall
perform all of the obligations of Tenant applicable under the Lease during the Term except for the obligation to pay Rent which shall 

  
 C-6 

 
commence as stated in the Lease. In addition to the indemnity obligations of Tenant under the Lease, Tenant shall indemnify, defend and protect Landlord and hold Landlord harmless from and
against any and all claims, proceedings, losses, costs, damages, fines, penalties, causes of action, liabilities, injuries or expenses arising out of or related to claims of injury to or death of persons or damage to property occurring or resulting
directly or indirectly from the presence in the Premises or the Building of Tenant’s contractors, subcontractors, materialmen, or representatives or the activities of Tenant or its contractors, subcontractors, materialmen, or representatives in
or about the Premises or Building during the construction period, such indemnity to include, without limitation, the obligation to provide all costs of defense against any such claims. This indemnity shall survive the expiration or sooner
termination of the Lease. 
 (d) Site Rules. Tenant shall ensure that all the provisions and conditions contained or imposed in this
Exhibit C are observed and performed by all designers, contractors and trades engaged by Tenant. All contractors, subcontractors and materialmen shall be subject to prior approval by Landlord and shall be subject to the administrative
supervision of Landlord and any construction rules or regulations imposed by Landlord. All Tenant Improvements shall be handled in such a manner so as not to interfere with or delay any other work occurring in the Building. All contractors,
subcontractors and materialmen shall take all necessary steps to insure, so far as may be possible, the progress of the work without interruption on account of strikes, work stoppage or similar causes for delay. If Tenant’s contractors or
subcontractors do not promptly cause any pickets to be withdrawn and any other disruptions to the operations of the Building promptly to cease, or if Landlord notifies Tenant that Landlord has in good faith concluded that picketing or other
disruptive activities are an imminent threat, Tenant shall immediately cause the withdrawal from the job of all its contractors, subcontractors or materialmen involved in the dispute. 

(e) Insurance. Tenant shall cause Tenant’s contractor and all subcontractors to maintain all insurance required by Landlord for
contractors working in the Building. 
 (f) Security. Tenant shall be entirely responsible for the security of the Premises during
construction and Landlord shall not be liable for any loss or damage suffered by Tenant. 
 (g) Fire Safety During Construction.
Safeguards shall be implemented to provide reasonable safety to life and property from fire during construction, alteration and demolition operations. These safeguards shall comply with all applicable fire codes. 

7. Landlord’s Access. Landlord shall have the right to observe the construction of the Tenant Improvements and to inspect the
Tenant Improvements. Tenant shall notify Landlord of all construction meetings relating to the Tenant Improvements and Landlord has the right, but not the obligation, to attend all such meetings. Tenant shall provide Landlord with a copy of all
minutes taken at such meetings. Tenant shall cause any party performing any part of the Tenant Improvements to cooperate fully and promptly with Landlord. If Tenant fails to comply with Landlord’s requests for cooperation then Landlord may
require Tenant to cease work in the Premises. Landlord’s failure to inspect the Tenant Improvements shall not waive any of Landlord’s rights hereunder nor shall Landlord’s inspection of the Tenant Improvements constitute
Landlord’s approval of the same. If Landlord disapproves any portion of the Tenant Improvements, Landlord shall notify Tenant in writing of such disapproval and shall specify the items disapproved. Any defects or deviations in, and/or
disapproval by Landlord of, the Tenant Improvements shall be promptly corrected by Tenant at no expense to Landlord. 

  
 C-7 

 8. Designation of Construction Representatives. Tenant hereby designates
            as its representative in connection with the design and construction of the Tenant Improvements and Landlord shall be entitled to rely upon the decisions and agreements made by
such representative as binding upon Tenant. Landlord hereby appoints Cathy Dempsey to act on its behalf and represent its interests with respect to all matters requiring Landlord action in this Work Letter. Either party may change its construction
representative hereunder upon delivery of at least five (5) days prior written notice thereof to the other party. Tenant acknowledges and agrees that no other person claiming to act on behalf of Landlord is authorized to do so. Tenant further
acknowledges that Landlord’s construction representative is authorized to approve plans and make decisions regarding construction but is not authorized to amend or modify the Lease or to increase the amount of the Allowance or contribute any
additional Landlord funds toward the cost of the Tenant Improvements. No consent, authorization or other action shall bind Landlord unless in writing and signed by Landlord’s construction representative. If Tenant complies with any request or
direction presented to it by anyone else claiming to act on behalf of Landlord, such compliance shall be at Tenant’s sole risk and responsibility and shall not in any way alter or diminish the obligations and requirements created and imposed by
this Exhibit and Landlord shall have the right to enforce compliance with this Exhibit without suffering any waiver, dilution or mitigation of any of its rights hereunder. 

9. Obligation to Provide As-Built Plans. Within thirty (30) days after completion of the Tenant Improvements, Tenant shall cause
Architect to provide Landlord with a complete set of reproducible plans and specifications reflecting the actual conditions of the Tenant Improvements and Tenant’s Work as constructed in the Premises, together with an electronic copy of such
plans in the CAD format. Tenant shall also cause Contractor to provide a complete O&M manual for the Tenant Improvements to Landlord. 

10. Schedule. Tenant acknowledges that if Tenant does not retain Landlord’s Contractor as the Contractor, Tenant is solely
responsible for completing its Tenant Improvements in a timely manner and that Landlord’s only obligations are those set forth in this Work Letter and in the Lease and that Tenant shall be solely responsible for ensuring that design and
construction of the Tenant Improvements progresses on schedule. If Tenant retains Landlord’s Contractor as the Contractor, the Tenant Improvements shall be deemed to be substantially complete when Tenant would be legally permitted to occupy the
Premises but for the need to complete installation of Tenant’s FF&E, but in any event no later than the date on which Tenant takes occupancy and begins operations in the Premises. Substantial completion shall have occurred even though minor
details of construction, balancing decoration, and mechanical adjustments remain to be completed by Landlord. No part of the FF&E shall be considered in determining whether the Tenant Improvements are substantially complete. If substantial
completion of the base Building or the Tenant Improvements is delayed as a result of any of the following causes, such delay shall be considered a “Tenant Delay”: 

(a) Tenant’s failure to submit Construction Drawings to Landlord by December 31, 2014; 

  
 C-8 

 (b) Tenant’s failure to obtain any required permits to allow construction of the Tenant
Improvements on or before April 17, 2015; 
 (c) Changes requested by Tenant after approval of the Construction Drawings by Landlord and
changes required due to deficiencies in the Construction Drawings; 
 (d) Any delays in starting construction due to Tenant’s
disapproval of any contractor’s or subcontractor’s bids or the need to revise bids or Construction Drawings to reduce costs or Tenant’s failure to pay any sum when due hereunder; 

(e) Tenant’s request for materials, finishes or installations which have a long lead time or that take longer to install or complete than
Building Standard Materials; 
 (f) Tenant’s failure to comply with its obligations under the Lease or this Exhibit; 

(g) An Event of Default by Tenant under the Lease or the existence of any event or condition which, with the passage of time or the giving of
notice or both would constitute an Event of Default; 
 (h) Any changes to the base Building required by the Construction Drawings; or 

(i) Delays caused by any acts or omissions of Tenant or its agents or employees. 

If any Tenant Delay occurs, the date of substantial completion shall be the date on which substantial completion would have occurred but for
the Tenant Delay. Tenant acknowledges that the length of any Tenant Delay is to be measured by the duration of the delay in substantial completion caused by the event or conduct constituting Tenant Delay, which may exceed the duration of such event
or conduct due to the necessity of rescheduling work or other causes. 
 11.Reasonable Cooperation. Landlord may permit Tenant to
construct portions of the Tenant Improvements at the same time as Landlord is constructing portions of the Base Building. If Landlord permits such early access, Tenant shall cooperate fully and promptly with Landlord. 

  
 C-9 

 Exhibit C-1 

LANDLORD’S WORK 

“Base Building” 
 400 Fairview
LLC 
  

							
	 BUILDING

COMPONENT
	  	 DESCRIPTION
	  	LANDLORD’S
WORK	  	TENANT’S
WORK
	 HEALTH AND ENVIRONMENT

				
	 LEED Certification
	  	LEED Gold	  	X	  	Optional
	
	 GARAGE

				
	 Bicycle Storage
	  	Card access to chain-link fenced area (3 sides chain link 1 GWB). Parking for 128 bicycles.	  	X	  	—  
				
	 Locker Rooms
	  	Fully finished men’s and women’s locker rooms including sinks, showers, and sauna	  	X	  	—  
				
	 Garage Elevators
	  	Two (2) MRL passenger elevators; Manufacturer standard finishes. 3500# elevator capacity, 200fpm	  	X	  	—  
				
	 Garage Elevator Lobbies
	  	Glazed aluminum entrance doors. Concrete floors. Painted GWB walls.	  	X	  	—  
				
	Parking Ratio (Subject to City of Seattle approval)	  	 Office Ratio: 1.3/1000 rsf
 Retail Ratio:
2.0/1000 rsf
	  	X 
Office: 417 stalls
Retail: 45 stalls	  	—  
	
	 GROUND FLOOR

				
	Secured Level 1 Office Elevator Lobby	  	Mix of wood, stone, tile, GWB and/or metal	  	X	  	—  
				
	Passenger Elevators	  	(5) 3500# MRL high-rise passenger elevators. 500 fpm. Custom elevator finishes. Destination dispatch. Provide elevator doors, frames, plus call buttons and lanterns. Landlord to install fire/smoke doors if required by code. Provide
card readers in all passenger elevator cabs.	  	X	  	—  
				
	Landlord Service Elevator / Tenant Swing Elevator	  	(1) 4500# MRL high-rise ‘swing’ elevator. 350 fpm. Standard elevator finishes	  	X	  	—  
				
	Mail room	  	Located on Level One	  	X	  	—  
				
	Fully finished restrooms	  		  	X	  	—  
				
	 Floors
	  	Polished concrete	  	X	  	—  
				
	 Walls
	  	Ceramic tile wainscot/GWB	  	X	  	—  

  
 C-1 

							
	 BUILDING

COMPONENT
	  	 DESCRIPTION
	  	LANDLORD’S
WORK	  	TENANT’S
WORK
	 Ceilings
	  	ACT	  	X	  	—  
				
	 Toilet partitions
	  	Painted, floor mounted	  	X	  	—  
				
	 Accessories
	  	Stainless steel	  	X	  	—  
				
	 Countertops
	  	Solid Surface	  	X	  	—  
				
	 Mirrors
	  	Full width	  	X	  	—  
				
	Exit Stairs	  		  	X	  	—  
				
	 Stairs
	  	Metal Stairs—treads concrete filled	  	X	  	—  
				
	 Walls
	  	Painted GWB	  	X	  	—  
				
	 Lighting
	  	To meet code	  	X	  	—  
				
	Core doors and hardware	  	Painted wood doors & hollow metal frames	  	X	  	—  
				
	Card Readers	  	Card readers at South Vestibule Entry Door, West Vestibule Entry Door, Office Elev. Lobby Entry Door. All other areas doors to non-public areas will have card reader compatible frames and hardware	  	X 
Card reader or
compatible
frames &
hardware	  	X 
Card readers into
nonpublic
areas
				
	Loading Dock	  	One (1) 35’ loading dock off alley w/ access to service elevator. Trash & recycling compactor located in loading area.	  	X	  	—  
				
	Alley Loading Berths	  	Four (4) 25’ loading berths located in-line adjacent to alley.	  	X	  	—  
				
	OFFICE TENANT FLOORS	  		  		  	
				
	Tenant Floor Elevator Lobbies	  	Full floor tenant will build out lobby finishes	  	—	  	X
				
	Floor to Floor Heights	  	12-0”	  	X	  	—  
				
	Exit Stairs	  	Metal Stairs—treads concrete filled	  	X	  	—  
				
	Perimeter Walls & Ceilings	  	Provide perimeter walls complete with required framing, vapor barrier insulation and fire-safing. Perimeter gyp board—fire taped—and window sills installed. Concrete core walls and columns do not require stud
framing—finish will be “as cast” with removal of form fins	  	X	  	—  

  
 C-2 

							
	 BUILDING

COMPONENT
	  	 DESCRIPTION
	  	LANDLORD’S
WORK	  	TENANT’S
WORK
	Core walls	  	Core stud walls will receive drywall to structure and rated walls will be fire-taped if required by code. Concrete core walls will be left as exposed concrete—finish will be “as cast” with removal of form fins	  	X	  	—  
				
	Cast Concrete Ceiling Finish	  	As cast with removal of form “fins”. Ceilings (underside of floor deck above) may be left as cast concrete unless otherwise required by code. All permanent building elements will be held as tight as possible to the
structural ceiling above to allow the Tenant’s installation of an acoustical ceiling at 9’-0”. Ceiling heights in the side core at DOAS unit locations will be 8’-6”	  	X	  	—  
				
	Lighting	  	At all shell & core rooms, garage and stairwells	  	X	  	—  
				
		  	At all Tenant spaces	  		  	X
				
	Elevator doors finish Office Elevators	  	Satin steel finish doors and frames	  	X 
Primed only	  	X 
Painted
				
	Fully finished restrooms	  	Fixture quantities will be per code requirements.	  	X 
Core restrooms
per original
design	  	—  
				
	 Doors
	  	Restroom door orientation to be ingress=push and egress=pull.	  	X	  	—  
				
	 Floors
	  	Ceramic tile	  	X	  	—  
				
	 Walls
	  	Ceramic tile wainscot/GWB painted	  	X	  	—  
				
	 Ceilings
	  	ACT	  	X	  	—  
				
	 Toilet partitions
	  	Painted steel, floor mounted	  	X	  	—  
				
	 Accessories
	  	Stainless steel	  	X	  	—  
				
	 Countertops
	  	Solid Surface	  	X	  	—  
				
	 Mirrors
	  	Full width at counter top	  	X	  	—  
				
	 Janitor Hose bibb
	  	Under sink. Landlord to provide hose bib in men’s restroom on any floors without dedicated janitor closet	  	X	  	—  
				
	Non-concrete areas	  	Fire tape per code at non-perimeter walls	  	X	  	—  

  
 C-3 

							
	 BUILDING

COMPONENT
	  	 DESCRIPTION
	  	LANDLORD’S
WORK	  	TENANT’S
WORK
	Columns / shear walls	  	Concrete core walls and columns will be left as exposed concrete. Finish will be “as cast’ with removal of form fins	  	X	  	—  
				
	Perimeter framing / drywall	  	Exterior sills / walls	  	Fire taped	  	
				
	Aluminum Sill	  	At perimeter windows	  	X	  	
				
	Electrical & telephone rooms	  	 Provide at each floor with:
 - Walls taped and
primed.
 - Concrete walls unfinished.
 - Concrete floors
sealed.
 - Hollow metal doors and hollow metal frames primed both sides
	  	X	  	X 
Paint hollow
metal doors and
frames
				
	Interior shades/blinds	  	Tenant will furnish and install mechoshade type window coverings, as needed. Final spec and color to be approved by LL.	  	--	  	X
			
	GRAPHICS & SIGNAGE	  		  	
				
	Code required signage	  	—	  	X 
for Shell & Core	  	X 
For TI
				
	Interior way-finding	  	Lobby directory, retail market hall, & parking garage	  	X 
for Shell & Core	  	—  
				
	Exterior building identity signage and wayfinding	  		  	X 
for Shell & Core	  	--
				
	STRUCTURAL	  		  		  	
				
	Floor loading	  	Perimeter & field: 50 psf live, 20 psf dead. See structural drawings load maps for more specific load designations.	  	X	  	—  
			
	MECHANICAL & PLUMBING SYSTEMS	  		  	
				
	Rooftop & central plant equipment	  	—	  	X	  	—  
				
	Energy management system (DDC)	  	—	  	X 
for Shell & Core	  	—  
				
	HVAC System	  	—	  	—	  	—  

  
 C-4 

							
	 BUILDING

COMPONENT
	  	 DESCRIPTION
	  	LANDLORD’S
WORK	  	TENANT’S
WORK
				
	 Base Building Office Cooling Infrastructure Design Loads
	  	 Equipment Load-2.5 W/5F @ 85% Diversity

Lighting load = 0.9 W/SF

People = 142/SF
 Level 2 -
49 Tons
 Level 3 - 57 Tons

Level 4 - 37 Tons
 Level 5
- 37 Tons
 Level 6 - 42 Tons

Level 7 - 42 Tons
 Level 8
- 42 Tons
 Level 9 - 42 Tons

Level 10 - 42 Tons
 Level
11 - 42 Tons
 Level 12 - 42 Tons

Level 13 - 37 Tons
	  	X	  	X 
Supplemental
Cooling
(if any)
				
	 Vertical distribution (hydronic)
	  	Vertical risers for heating, chilled, and condenser water from central plant. Single set of piping stubbed out at ea. floor with shut-off. Heating and chilled water to flrs 2-13	  	X	  	—
				
	 Horizontal distribution (hydronic)
	  	Heating and chilled beam piping mains including chilled beam pump and mixing valves distributed on Floors 2-13 per shell & core plans	  	X 
Main only	  	X 
All other piping
				
	 Dedicated outside air system
	  	Ceiling mounted air handling units with heat recovery delivering 100% outside air. Outside air system provides core restroom exhaust and has capcity for tenant general exhaust or additional tenant restroom	  	X	  	—
				
	 HVAC horizontal ductwork
	  		  	X 
Backbone only	  	X 
TI air
distribution
				
	 HVAC Controls
	  	Current design consistent of current state of the art (2013), BACNET compatible with web interface, limitless users, fully programmable, scalable system.	  	X	  	X 
Control valves to
connect
to LL
installed
HVAC
controls
system
				
	 Hydronic chilled Beams
	  	10’ chilled beams provided based on 284 USF/beam Chilled beam provided is Barcol 450	  	X	  	
				
	Plumbing	  	Waste and vent and vent risers available at gridlines 3 & 10. Water riser available at restroom core. Tenant shall provide domestic hot water heaters as required.	  	X	  	X 
Hot
water
heaters
for non-
care
bathrooms
if
needed

  
 C-5 

							
	 BUILDING

COMPONENT
	  	 DESCRIPTION
	  	LANDLORD’S
WORK	  	TENANT’S
WORK
	ELECTRICAL SYSTEM	  		  		  	
				
	Baseline: Electrical Busway with Hydronic Heating	  	To support floors 2 through 13 a 2400A tenant bus	  	X 
2400A	  	—
				
	Power Backbone	  	 Provided for Tenant use:
 - 480/277 volt
busway
 - Level 2: Bus plugs are 175A, transformer is 112.5 kVA

- Levels 3-12: Bus plugs are 110A, transformer is 75 kVA
 - Level
13: Bus plugs are 70A, and transformer is 45 kVA
	  	X	  	—
				
	Transformed power for tenant plug load	  	 Demand Load: 1.5 w/sf
 Infrastructure: 4.0
w/sf
	  	X	  	—
				
	Power for lighting	  	Demand .9 w/sf infrastructure: 1.0 w/sf	  	X 
Per Code	  	—
				
	Additional capacity at riser (not transformed)	  	670A spare Capacity on Office Busway; 550kW capacity available on Office Riser, to be allocated across all tenants. Spare capacity can be accessed from any office floor.	  	X 
Vertical Pathway
Only	  	X 
Bus Plugs,
Transformers
				
	Lighting at Common Areas	  	 Provide the following:
 Common area lighting and
related controls, including: Level 1 common lobbies, rooms and corridors; loading dock berths, platform and corridors; restrooms, electrical rooms; stairs, elevators, terraces, and exterior. Restrooms and stairwells to be controlled by occupancy
sensors. Exit signs as required at common areas and at garage.
	  	X	  	—
				
	Lighting at Office Floors	  	 Provide the following:
 Code required emergency
and exit lighting for Shell and Core.
	  	X
For S&C	  	X 
For TI per LL
Spec
				
	Branch circuit power distribution per floor for lighting and plug load	  	 Level 2-13: Bus plug, transformer and electrical panel are provided in the main electrical room (south) including a feeder to a panel in the
north electrical room.
 Level 2-12: 2 panels are provided, one in each electrical room. Each panel has provisions for a second, identical, adjacent panel to
be provided by tenant if desired.
 Level 13: Only 1 panel is provided in the south electrical room
	  	—	  	X

  
 C-6 

							
	 BUILDING

COMPONENT
	  	 DESCRIPTION
	  	LANDLORD’S
WORK	  	TENANT’S
WORK
	Fire alarm system and control panels per code	  	 Provide the following:
 - Base building fire
alarm system complete and approved by inspection agency.
 - Code required fire alarm panel and connection of the main system to a 24 hour monitoring
service.
 - Provide all fire alarm devices for shell & core condition

- Fire panel with adequate capacity for tie-in of future Tenant’s devices.

Tenant’s fire alarm devices, distribution and connection to the Shell & Core fire alarm panel are the Tenant’s responsibility as part of the
Tenant’s Work.
	  	X 
for Shell & Core	  	X 
for TI
				
	Metering	  		  	X 
for Shell & Core	  	X 
for TI
				
	Digital Lighting Control	  		  	X 
for Shell & Core	  	X 
for TI
				
	Telecoms/data systems	  		  	X 
Vertical
Pathway Only	  	X 
for TI
				
	LIFE SAFETY/SECURITY	  		  		  	
				
	Sprinkler System	  	Mains and branch lines installed through or below bottom of floor framing. Upturned quick response heads providing required coverage to obtain shell TCO and meeting NFPA 13 requirements. Tenant is responsible for modifications to
the fire sprinkler system to meet the code requirements for Tenant improvements.	  	X 
for Shell & Core	  	X 
for TI
				
	Emergency generator	  	As part of Shell & core, additional capacity for Tenant use is available, however tenant’s use of emergency generator power will be load shed if and when the fire pump is operating with emergency power. Tenant agrees to
indemnify Landlord for any and all connections to Landlords emergency generator which will be further described in the lease	  	X 
for Shell & Core	  	X 
To the extent
 extra
capacity
is
available

				
	Monitored access system for building entrances, stairwells, elevator cabs, and parking entry	  	Provide conduit, pathway, and door locking hardware at all stairwells (stairwell side only)	  	X	  	—  

  
 C-7 

							
	 BUILDING

COMPONENT
	  	 DESCRIPTION
	  	LANDLORD’S
WORK	  	TENANT’S
WORK
	OTHER	  		  		  	
				
	Landscaping	  	Site, podium terraces, rooftop terraces	  	X	  	--
				
	ADA	  	Per code at time of building permit	  	X 
for Shell & Core	  	X 
for TI
				
	IT Pathway and vaults	  	Provide the following:	  	—	  	—  
				
		  	Shared Garage Level communications/demark room.	  	X	  	—  
				
		  	Major telecommunication providers will have access to the building.	  	X	  	—  

  
 C-8 

 Exhibit D 

CONFIRMATION CERTIFICATE 

This Confirmation of Lease is made as of             ,
20            , by             , a
            (“Landlord”), and             , a
            (“Tenant”), who agree as follows: 
 1. Landlord and
Tenant entered into a lease dated             , 201    , in which Landlord leased to Tenant and Tenant leased from Landlord the premises described in the Lease
(“Premises”). All capitalized terms herein are as defined in the Lease. 
 2. Pursuant to the Lease, Landlord and Tenant
agreed to and do hereby confirm the following matters as of the date hereof: 
  

	 	a.	Commencement Date:             , 20            ; 

 

	 	b.	Termination Date:             , 20            ; 

 

	 	c.	The initial monthly Base Rent under the Lease, subject to adjustments as provided in the Lease, is $            .00. Base Rent and Operating Cost payments will
commence on             , 20            ; 

  

	 	d.	Premises Rentable Area:             ; 

  

	 	e.	Building Rentable Area:             : 

  

	 	f.	Tenant’s Share:             ; 

  

	 	g.	Date on which the Premises were ready for construction of Tenant Improvements:             . 

3. Tenant confirms that it has accepted possession of the Premises as provided in the Lease and the improvements required to be furnished by
Landlord under the Lease have been completed to Tenant’s satisfaction (subject to any punch list items of which Tenant has notified Landlord in writing in accordance with the Lease and a copy of which is attached hereto). 

 

									
	Landlord:	 		 	Tenant:
					
	By:	 	 	 		 	By:	 	 
					
	 Its:
	 	 	 		 	Its:	 	 

  
 D-1 

 EXHIBIT E 

TERMINATION FEE CALCULATION 
  

	I.	Assuming that Tenant does not lease any space under Section 1.1.1 of the Lease, the Termination Fee shall be equal to the sum of each item (A-H) included in the table below and further described in the
associated schedule below: 

 Early Termination Fee Table: 
  

									
	 Termination Fee Item
	  	Unamortized
Cost of TI’s
or Allowance
@ 8.5%	  	Unamortized Cost
of Brokerage
Commissions @
8.5%	  	Four (4) Months
Base Rent
Following Lease
Termination	  	Four (4) Months
Operating Costs
Following Lease
Termination
	 Initial Premises
	  	A: $1,521,820	  	B: $291,682	  	C: $772,991	  	D
	 Expansion Space
	  	E	  	F	  	G	  	H

 Early Termination Fee Schedule: 
  

	 	A.	Initial Premises: The unamortized amount (as of the end of month 84) of the Allowance ($75.00 per square foot of Rentable Area) at 8.5% over the 10 year Term equaling $1,521,820. 

 

	 	B.	Initial Premises: The unamortized cost (as of the end of month 84) of brokerage commissions at 8.5% over the 10 year Term equaling $291,682. 

 

	 	C.	Initial Premises: The four (4) months of scheduled Base Rent in months 85-89 ($44.89 per square foot of Rentable Area) equaling $772,991. 

 

	 	D.	Initial Premises: The four (4) months of Operating Costs at the rate payable in months 85-89 of the Initial Term. (amount not yet known) 

 

	 	E.	Expansion Space: The unamortized amount (as of the end of month 84) of the Expansion Space Allowance paid by Landlord in connection with the Expansion Space, amortized with 8.5% annual interest over the period from the
Expansion Space Commencement Date to the end of the Initial Term. (amount not yet known) 

  

	 	F.	Expansion Space: The unamortized amount (as of the end of month 84) of the brokerage commissions paid by Landlord in connection with the Expansion Space, amortized with 8.5% annual interest over the period from the
Expansion Space Commencement Date to the end of the Initial Term. For purposes of the foregoing calculation, brokerage commissions on the Expansion Space shall be Nine and 88/100 Dollars ($9.88) per square foot of Rentable Area in the Expansion
Space, which shall be proportionately increased if Tenant leases the Expansion Space prior to month 37. (amount not yet known) 

  
 E-1 

	 	G.	Expansion Space: The four (4) months Base Rent on the Expansion Space at the rate payable in months 85-89 of the Initial Term. (amount not yet known) 

 

	 	H.	Expanded Premises: Four (4) months of Operating Costs at the rate payable in months 85-89 of the Initial Term. (amount not yet known) 

For Example, if the Initial Premises contains 51,662 square feet of Rentable Area, and if the Expansion Premises contains 12,000 square feet
of Rentable Area, and if the scheduled Operating Costs are $12.50 per square foot in Months 85-89, and if Expansion Space Commencement Date is the first day of Month 37 of the Initial Term, then the Termination Fee would be calculated as follows:

 Example Termination Fee Table: 
  

																	
	 Termination Fee Item
	  	Unamortized
Cost of TI’s
or Allowance
@ 8.5%	 	 	Unamortized Cost
of Brokerage
Commissions @
8.5%	 	 	Four (4) Months
Base Rent
Following Lease
Termination	 	 	Four (4) Months
Operating Costs
Following Lease
Termination	 
	 Initial Premises
	  	$	1,521,820	  	 	$	291,682	  	 	$	772,991	  	 	$	215,258	* 
	 Expansion Space
	  	$	247,441	** 	 	$	46,566	*** 	 	$	179,560	**** 	 	$	50,000	  
	 Subtotals:
	  	$	1,769,221	  	 	$	338,248	  	 	$	952,541	  	 	$	265,258	  
		  				 				 	 
 
 	Total Example
Termination
Fee:	  
  
  	 	$	3,325,308	  

  

	*	The product of 51,662 rentable square feet (Initial Premises) multiplied by annual Operating Costs of $12.50 per square foot of Rentable Area, divided by 3 (i.e. four months Operating Costs). 

	**	The unamortized amount (as of the end of month 84) of $630,000 ($52.50 multiplied by 12,000 square feet of Rentable Area) 

	***	The unamortized amount (as of the end of month 84) of $118,560 ($9.88 multiplied by 12,000 square feet of Rentable Area) 

	****	The product of 12,000 square feet of Rentable Area multiplied by $44.89, divided by 3 (ie. four months of Expansion Space Rent). 

	****	The product of 12,000 square feet of Rentable Area (Expansion Space) multiplied by annual Operating Costs of $12.50 rentable square foot, divided by 3 (i.e. four months Operating Costs). 

  
 E-2 

	II.	If Tenant leases any space under Section 1.1.1 of the Lease, the Termination Fee shall also include the elements (A to H) relating to the space so leased subject to amortization as provided above.

  
 E-3 

 EXHIBIT F 

EXTERIOR SIGNAGE CONCEPT 
  

 

  
 E-4

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