Document:

Amended Certificate of Powers, Designations, Preferences and Rights

 Exhibit 4.11 
 AMENDED CERTIFICATE OF POWERS, DESIGNATIONS, 
 PREFERENCES AND RIGHTS OF THE 
 SERIES A CONVERTIBLE PREFERRED STOCK 
 PAR VALUE $0.0001 PER SHARE 
 OF 
 AXION POWER INTERNATIONAL, INC. 
 Axion Power International, Inc., a corporation organized and
existing under the laws and State of Delaware (the “Corporation”), hereby certifies that the Board of Directors of the Corporation at a meeting thereof duly called and held on October 18, 2006, at which meeting a quorum was present
and acting throughout, duly adopted the following resolutions: 
 WHEREAS, the Board of Directors of the Corporation is authorized,
within the limitations and restrictions stated in the Certificate of Incorporation of the Corporation (“Certificate of Incorporation”), to fix by resolution or resolutions the designation of each series of Preferred Stock, $0.0001 par
value per share (“Preferred Stock”), the number of shares constituting such series and the relative rights, preferences and limitations thereof, including, without limiting the generality of the foregoing, such provisions as may be desired
concerning voting, redemption, dividends, dissolution or the distribution of assets, conversion or exchange, and such other subjects or matters as may be fixed by resolution or resolutions of the Board of Directors under the General Corporation Law
of the State of Delaware (the “GCLD”); 
 WHEREAS, the associated resolutions of the Board of Directors vested management
with the authority to make certain ministerial changes to the rights of holders that do not materially alter (a) the price at which the Preferred Stock will be sold, (b) the value at which the Preferred Stock may be converted into common
stock, or (c) any other terms that might result in the classification of the Preferred Stock as debt rather than equity on the Corporation’s financial statements 
 WHEREAS, it within the scope of the express authority granted by the Board of Directors management wishes to make certain ministerial changes
relating to the timing of certain conversion rights enjoyed by holders of the Corporation’s “Series A Convertible Preferred Stock” set forth in Section 8(a) of the original Certificate of Powers, Designations, Preferences and
Rights dated October 23, 2006. 
 NOW, THEREFORE, BE IT RESOLVED that pursuant to the express authority vested in management by
Board of Directors by the Certificate of Incorporation the Certificate of Powers, Designations, Preferences and Rights of the Series A Convertible Preferred Stock of Axion Power International be and is hereby amended and restated to read in its
entirety as follows: 
 1. Designation, Number of Shares and Stated Value. The designation of the series of Preferred Stock authorized
by this resolution shall be Series A Convertible Series A Preferred Stock (the “Series A Preferred”). The maximum number of shares of the Series A Preferred shall be two million (2,000,000) shares and no more. No more than one million
(1,000,000) shares may be sold for cash and the remaining one million (1,000,000) authorized shares shall be reserved for (i) issuance upon exercise of the conversion rights of holders of the Corporation’s short-term debt, and
(ii) to pay in-kind dividends on the Series A Preferred as provided for herein. The stated value of the Series A Preferred shall be $10 per share (the “Stated Value”). 
 2. Rank. The Series A Preferred shall, with respect to dividend rights, redemption rights and rights upon liquidation, winding up and dissolution,
rank junior to 140,000 issued and outstanding shares of 8% Convertible Senior Preferred Stock issued and outstanding on the date hereof; rank senior to any other series of Preferred Stock established by the Board of Directors after the date hereof,
unless the holders of the Series A Preferred shall agree pursuant to Section 7(b) hereof that such shares shall rank pari passu with or senior to the shares of Series A Preferred; and rank senior to all other equity securities of the
Corporation, including the common stock, par value $0.0001 per share (the “Common Stock”), of the Corporation (all of the securities of the Corporation which rank junior to the Series A Preferred are at times collectively referred to
herein as the “Junior Securities”). From and after the date hereof, the Corporation shall not issue additional securities that have registration rights that are superior to the rights set forth in Section 9 without the consent of the
holders of a majority of the outstanding Series A Preferred. 
  

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 3. Dividends. (a) The holders of the shares of the Series A Preferred shall receive dividends
at the annual rate of 10% of the Stated Value of the Series A Preferred; provided that in the event the Corporation is not current with respect to its reporting obligations under the Securities Exchange Act of 1934 on any dividend payment date, the
holders of Series A Preferred Stock shall receive dividends for that period only at the annual rate of 20% of the Stated Value of the Series A Preferred. Such dividends shall be payable in equal quarterly payments (or such prorated amount as may be
applicable with respect to the first such payment), on the last day of March, June, September and December of each year commencing December 31, 2006 (each of such dates being a “Dividend Payment Date”), Such dividends shall be paid to
the holders of record at the close of business on the date specified by the Board of Directors of the Corporation at the time the dividend is declared; provided, however, that such date shall not be less than 10 nor more than 30 days prior to the
Dividend Payment Date. Each quarterly dividend shall accrue automatically, whether or not declared, from the first day of the quarter (or, with respect to the first such dividend, from the first closing date for the original issuance and sale of the
shares of Series A Preferred (the “Closing Date”)) in which such dividend may be payable through the Dividend Payment Date with respect to such quarter as herein provided. If the Dividend Payment Date is not a business day, the Dividend
Payment Date shall be the next succeeding business day. When quarterly dividends are declared, each holder of Series A Preferred shall have the option, for a period of 10 days from the dividend declaration date, to elect to receive his dividend in
cash or in fully-paid shares of Series A Preferred which shall, for dividend payment purposes, be valued at $10 per share. 
 (b)
Notwithstanding anything contained herein to the contrary, no cash dividends on shares of the Series A Preferred shall be declared by the Board of Directors or paid or set apart for payment by the Corporation at such time as the terms and provisions
of any agreement of the Corporation, including any agreement relating to its indebtedness, prohibits such declaration, payment or setting apart for payment or provides that such declaration, payment or setting apart for payment would constitute a
breach thereof or a default thereunder, unless the Corporation has obtained the consent of the requisite holders of such indebtedness to the payment of setting apart for payment of such dividends. In the event the Corporation is unable to pay cash
dividends for any reason, including reasons set forth in subsections 3(b) and 3(c), it shall nonetheless be required to declare quarterly dividends at the times set forth in subparagraph 3(a) and pay such dividends in additional shares of Series A
Preferred unless a holder specifically requests accrual of a cash dividend to be paid at a later date. 
 (c) If at any time the Corporation
shall have failed to pay all dividends which have accrued on any outstanding shares of any series of Preferred Stock having cumulative dividend rights ranking pari passu with or senior to the shares of the Series A Preferred at the times such
dividends are payable, no cash dividend shall be declared by the Board of directors or paid or set apart for payment until, (i) all accrued and unpaid dividends on all outstanding shares of any other series of preferred stock having cumulative
dividend rights ranking senior to the Series A Preferred shall have been or be declared, paid or set apart for payment without interest, and (ii) all accrued and unpaid dividends on all outstanding shares of any other series of preferred stock
having cumulative dividend rights ranking pari passu with the Series A Preferred shall have been or be declared, paid or set apart for payment, without interest, pro rata with all accrued and unpaid dividends on all outstanding shares of the
Series A Preferred, so that the amounts of any cash dividends declared, paid or set apart for payment on shares of the Series A Preferred and shares of such other series of Preferred Stock having cumulative dividend rights ranking pari passu with
the Series A Preferred shall in all cases bear to each other the same ratio that, at the time of such declaration, payment or setting apart for payment, all accrued but unpaid cash dividends on shares of the Series A Preferred and shares of such
other series of the Preferred Stock having cumulative dividend rights ranking pari passu with the Series A Preferred bear to each other. 
 (d) (i) Holders of shares of the Series A Preferred shall be entitled to receive the dividends provided for in paragraph 3(a) hereof in preference to and in priority over any dividends upon any of the Junior Securities. 
 (ii) So long as any shares of the Series A Preferred are outstanding, the Corporation shall not declare, pay or set apart for payment any
dividend on any of the Junior Securities or make any payment on account of, or set apart for payment money for a sinking or other similar fund for, the purchase, redemption or other retirement of, any of the Junior Securities or any warrants,
rights, calls or options exercisable for any of the Junior Securities, or make any distribution in respect thereof, either directly or indirectly, and whether in cash, obligations or shares of the Corporation or other property (other than
distributions or dividends in stock to the holders of such stock), and shall not permit any corporation or other entity directly or indirectly 
  

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 controlled by the Corporation to purchase or redeem any of the Junior Securities or any warrants, rights,
calls or options exercisable for any of the Junior Securities, unless prior to or concurrently with such declaration, payment or setting apart for payment, purchase or distribution, as the case may be, all accrued and unpaid cash dividends on shares
of the Series A Preferred not paid on the dates provided for in paragraph 3(a) hereof (including if not paid pursuant to paragraph 3(b), paragraph 3(c) or paragraph 3(d) hereof) shall have been or, concurrently therewith, shall be paid. 

(iii) Subject to the foregoing provisions of this paragraph 3(d), the Board of Directors may declare and the Corporation may pay or set
apart for payment dividends and other distributions on any of the Junior Securities, and may purchase or otherwise redeem any of the Junior Securities or any warrants, rights or options exercisable for any of the Junior Securities, and the holders
of the shares of the Series A Preferred shall not be entitled to share therein. 
 4. Liquidation Preference. (a) In the event of
any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary, the holders of shares of the Series A Preferred then outstanding shall be entitled to be paid out of the assets
of the Corporation available for distribution to its stockholders, for each share held, an amount in cash equal to the Stated Value of the Series A Preferred plus an amount in cash equal to all accrued but unpaid dividends thereon from the last
Dividend Payment Date through the date fixed for liquidation (“Liquidation Value”), before any payment shall be made or any assets distributed to the holders of the Junior Securities. If the assets of the Corporation are not sufficient to
pay in full the Liquidation Value payable to the holders of outstanding shares of Series A Preferred or any other series of Preferred Stock having liquidation rights ranking pari passu with the shares of Series A Preferred, then the holders of all
such shares shall share ratably in such distribution of assets in accordance with the respective amounts which would be payable on such distribution if the amounts to which the holders of outstanding shares of Series A Preferred and of such other
series of Preferred Stock are entitled were paid in full. 
 (b) For the purposes of this Section 4, the voluntary sale, conveyance,
exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all the property or assets of the Corporation or the consolidation or merger of the Corporation with one or more other corporations shall be
deemed to be a voluntary liquidation, dissolution or winding up of the Corporation. 
 5. Optional Redemption. (a) To the extent
the Corporation shall have funds legally available for that purpose; the Corporation may partially redeem shares of the Senior Preferred at a redemption price of $11 per share according to the following schedule: 
 (i) if for any 30 trading days within a period of 45 consecutive trading days immediately preceding the notice of redemption, the Market
Price (as defined below) of a share of Common Stock equals or exceeds $5.00 per share, then twenty percent (20%) of the shares of Series A Preferred initially issued to a particular holder may be redeemed by the Corporation; 
 (ii) if for any 30 trading days within a period of 45 consecutive trading days immediately preceding the notice of redemption, the Market
Price (as defined below) of a share of Common Stock equals or exceeds $7.50 per share, then an additional twenty percent (20%) of the shares of Series A Preferred initially issued to a particular holder may be redeemed by the Corporation;

 (iii) if for any 30 trading days within a period of 45 consecutive trading days immediately preceding the notice of
redemption, the Market Price (as defined below) of a share of Common Stock equals or exceeds $10.00 per share, then an additional twenty percent (20%) of the shares of Series A Preferred initially issued to a particular holder may be redeemed
by the Corporation; 
 (iv) if for any 30 trading days within a period of 45 consecutive trading days immediately preceding
the notice of redemption, the Market Price (as defined below) of a share of Common Stock equals or exceeds $12.50 per share, then an additional twenty percent (20%) of the shares of Series A Preferred initially issued to a particular holder may
be redeemed by the Corporation; 
 (v) if for any 30 trading days within a period of 45 consecutive trading days immediately
preceding 
  

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 the notice of redemption, the Market Price (as defined below) of a share of Common Stock equals or
exceeds $15.00 per share, then an additional twenty percent (20%) of the shares of Series A Preferred initially issued to a particular holder may be redeemed by the Corporation; 
 The term “Market Price” with respect to a share of Common Stock shall mean for each trading day the reported closing sale price, or, if there
were no sales on such day, the average of the reported closing bid and asked prices, as reported by the principal national securities exchange on which the Common Stock is listed or admitted to trading or the National Association of Securities
Dealers Automated Quotation (“Nasdaq”) System or, if the Common Stock is not listed or admitted to trading on any national securities exchange or quoted on the Nasdaq System, the average of the closing bid and asked prices in the
over-the-counter market as reported by the NASD OTC Bulletin Board. “Trading day” shall mean a day on which a national securities exchange or the Nasdaq System, as the case may be, is open for the transaction of business or the reporting
of trades. 
 (b) Shares of Senior Preferred which remain unissued on the Closing Date, and shares of Senior Preferred which have been issued
and reacquired in any manner, including shares purchased or redeemed, shall (upon compliance with any applicable provisions of the laws of the State of Delaware) have the status of authorized and unissued shares of preferred stock undesignated as to
series and may be redesignated and reissued as part of any series of the preferred stock; provided, however, that no such issued and reacquired shares of Senior Preferred shall be reissued or re-sold as Senior Preferred. 
 (c) The Corporation shall not be required to make any sinking fund payments in connection with the redemption of the Senior Preferred pursuant to this
Section 5. 
 6. Procedure for Redemption. (a) In the event that fewer than all of the then outstanding shares of the Series
A Preferred are to be redeemed, the shares of Series A Preferred to be redeemed shall be determined by lot or pro rata as may be determined by the Board of Directors or any other method selected by the Board of Directors which is not inconsistent
with applicable law. 
 (b) In the event the Corporation shall redeem shares of the Series A Preferred, notice of such redemption shall be
given by first class mail, postage prepaid, mailed not less than 30 days nor more than 60 days prior to the redemption date, to each holder of record of the shares to be redeemed at such holder’s address as the same appears on the stock
register of the Corporation. Each such notice shall state: (i) the redemption date; (ii) the number of shares of the Series A Preferred to be redeemed and, if less than all the shares held by such holder are to be redeemed from such
holder, he number of shares to be redeemed from such holder; (iii) the redemption price; (iv) the place or places where certificates for such shares are to be surrendered for payment of the redemption price; and (v) that dividends on
the shares to be redeemed will cease to accrue on such redemption date (unless default shall be made by the Corporation in providing money for the payment of the redemption price of the shares called for redemption). 
 (c) Notice having been mailed as provided in Section 6(b), from and after the redemption date (unless default shall be made by the Corporation in
providing money for the payment of the redemption price of the shares called for redemption) dividends on the shares of Series A Preferred so called for redemption shall cease to accrue, and such shares shall no longer be deemed to be outstanding
and shall have the status of authorized but unissued shares of Preferred Stock, unclassified as to series, and all rights of the holders thereof as stockholders of the Corporation (except the right to receive from the Corporation the redemption
price) shall cease. Upon surrender in accordance with said notice of the certificates for any shares so redeemed (properly endorsed or assigned for transfer, if the Board of Directors of the Corporation shall so require and the notice shall so
state), such shares shall be redeemed by the Corporation at the redemption price aforesaid. In the event that fewer than all the shares represented by any such certificate are redeemed, a new certificate shall be issued representing the unredeemed
shares without cost to the holder thereof. 
 7. Voting Rights. (a) Except as otherwise required by law, the holders of Series A
Preferred shall (i) be entitled to cast the number of votes equal to the number of shares of Common Stock into which such shares of Series A Preferred could be converted pursuant to paragraph 8 hereof, at the record date for the determination
of stockholders entitled to vote on such matters or, if no such record date is established, at the date such vote is taken or any written consent of the stockholders is solicited, (ii) have voting rights and powers equal to the voting rights
and 
  

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 powers of the Common Stock except as otherwise stated herein, and (iii) be entitled to notice of any
stockholders’ meeting in accordance with the by-laws of the Corporation. Fractional votes shall not be permitted and any fractional voting rights resulting from the above formula (after aggregating all shares into which shares of Series A
Preferred held by each holder could be converted) shall be rounded to the nearest whole number (with one-half being rounded upward). Except as otherwise provided below or by law, the holders of Series A Preferred and the holders of Common Stock
shall vote together as a single class and not as separate classes on all matters submitted to a vote of the Corporation’s stockholders. 
 (b) The holders of Series A Preferred shall have the right to vote as a separate class on the following matters and no others: (i) any proposed amendment of the principal terms of the Series A Preferred; (ii) the authorization,
creation, issuance or sale of any class of capital stock ranking senior to or on parity with the Series A Preferred as to dividends, redemption or liquidation preference; or (iii) the merger of the Corporation into, or consolidation of the
Corporation with, or sale of all or substantially all of the assets of the Corporation to, another entity. The affirmative vote of the holders of not less than two-thirds (66.67%) of the outstanding shares of Series A Preferred shall be
necessary to authorize any transaction referenced in subsection (c)(i) through (iii) above. 
 8. Conversion Rights, Adjustments.
(a) Beginning on the six month anniversary of the initial Closing Date, the shares of Series A Preferred shall be convertible at the option of the holders of record thereof, in whole or in part, at any time and from time to time, as hereinafter
provided, into that number of fully paid and nonassessable shares of Common Stock (as such shares may be constituted on the Conversion Date, as hereinafter defined) as shall be obtained by dividing the Liquidation Value on the conversion date by the
Conversion Price (as hereinafter defined) and multiplying the resulting quotient by the number of shares of Series A Preferred to be converted. As used herein, the “Conversion Price” shall be One Dollar and Twenty-five cents ($1.25) per
share, or, in case an adjustment of such price has taken place pursuant to the provisions of Section 8(c) below, then the price as last adjusted and in effect on the Conversion Date. Notwithstanding anything to the contrary contained herein, if
a holder requests permission from the Corporation to convert its Series A Preferred shares prior to the six-month anniversary of the initial Closing solely for purposes of complying with its internal governing documents, and the Corporation consents
(which consent shall not be unreasonably withheld) in writing to such conversion, then such holder may convert its shares of Series A Preferred Shares prior to the six-month anniversary of the initial Closing. 
 (b) Before any holder of shares of Series A Preferred shall be entitled to convert the same into Common Stock, he shall deliver the certificate or
certificates therefor, duly endorsed, at the office of the Corporation or the Corporation’s transfer agent, if any, and shall give written notice to the Corporation that he elects to convert all or part of the shares represented by the
certificate or certificates and shall state in writing therein the name or names in which he wishes the certificate or certificates for Common Stock to be issued. Conversion shall be deemed to have been made effected on the date when such delivery
is made, and such date is referred to herein as the “Conversion Date”. The Corporation will, as soon as practicable thereafter, issue and deliver to such holder of shares of Series A Preferred, or to his nominee or nominees, certificates
for the number of full shares of Common Stock to which he shall be entitled as aforesaid, together with cash in lieu of any fraction of a share as hereinafter provided. If surrendered certificates for Series A Preferred are converted only in part,
the Corporation will issue and deliver to the holder, a new certificate or certificates representing the aggregate of the unconverted shares of Series A Preferred. 
 (c) The Conversion Price shall be subject to adjustment as follows: 
 (i) Adjustment Upon Issuances of Common Stock Below the Conversion Price. In case the Corporation shall issue any shares of Common
Stock other than Excluded Stock (as hereinafter defined) for a consideration per share less than the then existing Conversion Price applicable immediately prior to such issuance, the Conversion Price in effect immediately prior to each such issuance
shall be reduced to a price determined by dividing (A) the sum of (x) the number of shares of Common Stock outstanding immediately prior to such issue, multiplied by the Conversion Price in effect immediately prior to such issue, plus
(y) the consideration, if any, received by the Corporation upon such issue, by (B) the number of shares of Common Stock outstanding immediately prior to such issue plus the number of shares of common stock then issued. For the purposes of
this clause 8(c)(i), the following provisions shall also be applicable: 
  

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	 	(1)	Convertible Securities, Option and Rights. If the Corporation shall issue any stock, warrant, security, obligation, option or other right which directly or indirectly may be
converted, exchanged, or satisfied in shares of Common Stock other than Excluded Stock, the maximum total number of shares of Common Stock issuable upon such conversion, exchange or other exercise of such securities or rights shall thereupon be
deemed to have been issued and to be outstanding, and the consideration received by the Corporation therefor shall be deemed to include the sum of the consideration received for the issue of such securities or rights and the minimum additional
consideration payable upon such conversion, exchange or other exercise of such securities or rights. No further adjustment shall be made for the actual issuance of Common Stock upon such conversion, exchange or other exercise of any such securities
or rights. If the provisions of any such securities or rights with respect to purchase price or shares purchasable shall change or expire, any adjustment previously made hereunder therefor shall be readjusted to such as would have obtained on the
basis of the securities or rights as modified by such change or expiration. 

  

	 	(2)	Consideration. In case the Corporation shall issue shares of Common Stock for a consideration wholly or partly other than cash, the amount of the consideration other than
cash received by the Corporation shall be deemed to be the fair value of such consideration as determined by the Board of Directors of the Corporation by any method such Board deems appropriate (provided, however, that in the event that any
such shares of Common Stock are to be issued to any person or entity in which any director or directors of the Corporation has an interest, such determination shall be made solely by those members of the Board of Directors who have no such
interest). 

  

	 	(3)	Record Dates. In case the Corporation shall take a record of the holders of Common Stock for the purpose of entitling them (i) to receive a dividend or other
distribution payable in Common Stock, or (ii) to subscribe for or purchase Common Stock, then such record date shall be deemed to be the date of the issue or sale of the shares of Common Stock deemed to have been issued upon the declaration of
such dividend or the making of such other distribution or the date of the granting of such right of subscription or purchase, as the case may be. 

  

	 	(4)	Treasury Stock. The number of shares of Common Stock outstanding at any given time shall include shares owned or held by or for the account of the Corporation, and the
disposition of any such shares so owned or held shall not be considered an issue of Common Stock. 

  

	 	(5)	Excluded Stock. The term “Excluded Stock” shall mean (i) 3,494,644 shares issuable at an average price of $3.05 per share upon the full exercise of certain
outstanding warrants; (ii) 2,443,885 shares issuable at an average price of $4.19 per share upon the full exercise of certain outstanding stock options; and (iii) any other rights or warrants referred to in paragraph 8(c)(iii).

 (ii) Adjustments for Changes in Capital Stock. If the Corporation (A) pays a dividend in shares
of Common Stock to holders of Common Stock; (B) subdivides outstanding shares of Common Stock into a greater number of shares; (C) combines outstanding shares of Common Stock into a smaller number of shares; (D) pays a dividend on
shares of Common Stock in shares of capital stock other than Common Stock or makes a distribution on Common Stock in shares of capital stock other than Common Stock; or (E) issues by reclassification of shares of Common Stock any shares of its
capital stock; then the Conversion Price in effect immediately prior to such action shall be adjusted so that the holder of Series A Preferred thereafter converted may receive the number of shares of capital stock of the Corporation which such
holder would have owned immediately following such action if such holder held converted the Series A Preferred immediately prior to such action. 
 For a dividend or distribution, the adjustment shall become effective immediately after the record date for the dividend or distribution. For a subdivision, combination or reclassification, the adjustment shall become
effective immediately after the effective date of the subdivision, combination or reclassification. 
 If after an adjustment
a holder of Series A Preferred upon conversion thereof may receive shares of two or more classes of capital stock of the Corporation, the Board of Directors of the Corporation shall determine the allocation of the adjusted Conversion Price between
or among the classes of capital stock. After such allocation, the Conversion Price of the classes of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock contained in this Section 8
(c). 
  

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 (iii) Adjustment for Rights Issue or Other Distributions. If the Corporation
distributes to all or substantially all holders of shares of Common Stock any assets or general evidences of indebtedness, or issues any rights or warrants to all or substantially all holders of shares of Common Stock entitling them after the record
date mentioned below to purchase shares of Common Stock (or securities convertible into shares of Common Stock) at a price per share (or having a conversion price per share) less than the Conversion Price then in effect, provision shall be made so
that the holders of Series A Preferred shall receive upon conversion, and in addition to the number of shares of Common Stock otherwise receivable thereupon, the amount of other securities of the Corporation that they would have received had their
Series A Preferred been converted into Common Stock on the date of such event and had, thereafter, during the period from the date of such event to and including the conversion date, retained such other securities giving application to all
adjustments called for during such period under this paragraph 8 with respect to such other securities. The adjustment shall be made successively whenever any such rights or warrants are issued, and shall become effective immediately after the
record date for the determination of stockholders entitled to receive the rights or warrants. If all of the shares of Common Stock or securities convertible into shares of Common Stock subject to such rights or warrants have not been issued when
such rights or warrants expire, then the Conversion Price shall promptly be readjusted to the Conversion Price which would then be in effect had the adjustment upon the issuance of such rights or warrants been made on the basis of the actual number
of shares of Common Stock (or securities convertible into shares of Common Stock) issued upon the exercise of such rights or warrants. 
 (iv) Adjustment for Certain Changes in the Conversion Price of 8% Convertible Senior Preferred Stock. In the event that the conversion price of the Corporation’s 8% Convertible Senior Preferred Stock is
reduced after the date hereof for any reason, including the adjustment for registration delays provided in subsection 8(c)(iv) of the certificate of designations that authorized the issuance of the Corporation’s 8% Convertible Senior Preferred
Stock, then in each such event the Conversion Price of the Series A Preferred shall be reduced to a level that represents seventy-five percent (75%) of the conversion price of the Corporation’s 8% Convertible Senior Preferred Stock.
Notwithstanding the generality of the foregoing and for purposes of greater clarity, the Conversion Price of the Series A Preferred shall never exceed seventy-five percent (75%) of the conversion price of the Corporation’s 8% Convertible
Senior Preferred Stock. 
 (v) Voluntary Adjustment. The Corporation at any time may decrease the Conversion Price,
temporarily or otherwise, by any amount but in no event shall such Conversion Price result in the issuance of Common Stock at a price less than the par value of the Common Stock at the time such decrease is made. Any such decreased Conversion Price
shall be available for at least 20 days from the date on which notice of such decrease is filed by the Corporation with the transfer agent for the Common Stock, and such decrease shall be irrevocable during such period. The Company shall notify
holders of Series A Preferred at least 15 days prior to the date on which the reduced Conversion Price takes effect. 
 (vi)
When Adjustment May Be Deferred, Etc. No adjustment in the Conversion Price need be made under this Section 8(c) unless cumulative adjustments equal at least $.05. Any adjustments that are not made shall be carried forward and taken into
account in any subsequent adjustment. No adjustment of the Conversion Price will be made for cash distributions or cash dividends paid out of current or undistributed net income or retained earnings. All calculations under this Section 8(c)
shall be made to the nearest cent or to the nearest 1/100th of a share, as the case may be. 
 (vii) Notice of
Adjustment. Whenever the Conversion Price is adjusted, the Company shall calculate the adjustment to be made and shall promptly mail to holders of the Series A Preferred a notice of the adjustment and file with the transfer agent of the
Corporation a certificate from an officer of the Corporation briefly stating the facts requiring the adjustment and the manner of computing it. The certificate shall be conclusive evidence that the adjustment is correct, absent manifest error.

 (viii) Notice of Certain Transactions. If (A) the Corporation takes any action which would require an
adjustment in the Conversion Price; (B) the Corporation proposes to consolidate with or merge with or into, 
  

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 or transfer all or substantially all or its assets to, another corporation; or (C) there is a
proposed dissolution or liquidation of the Corporation, a holder of shares of Series A Preferred may desire to convert them into shares of Common Stock prior to the record date for the effective date of the transaction so that he may receive the
rights, warrants, securities or assets which a holder of shares of Common Stock on that date may receive. Therefore, the Corporation shall mail to holder and the transfer agent a notice stating any such proposed record or effective agent a notice
stating any such proposed record or effective date, as the case may be, by first-class mail at least 15 days before such date. Failure to mail the notice or any defect in it shall not affect the validity of any transaction referred to in this
Section. 
 (ix) Merger, Consolidation or Sale of Assets. In case the Corporation shall consolidate or merge into or
with another corporation, or in case the Corporation shall sell or convey to any other person or persons all or substantially all the assets of the Corporation, each holder of Series A Preferred the outstanding shall have the right thereafter to
convert each share of Series A Preferred held by him into the kind and amount of shares of stock, other securities, cash and property receivable upon such consolidation, merger, sale or conveyance by a holder of the number of shares of Common Stock
into which such consolidation, merger, sale or conveyance, and shall have no other conversion rights. In any event, effective provision shall be made, in the certificate or Certificate of Incorporation of the resulting or surviving corporation or
otherwise or in any contracts of sale and conveyance so that, so far as appropriate and as nearly as reasonably may be, the provisions set forth herein for the protection of the conversion rights of the shares of the Series A Preferred shall
thereafter be made applicable. 
 (d) No fractional shares or scrip representing fractional shares of Common Stock shall be issued upon
conversion of the Series A Preferred. If more than one certificate representing shares of the Series A Preferred shall be surrendered for conversion at one time by the same holder, the number of full shares issuable upon conversion thereof shall be
computed on the basis of the aggregate number of shares of Series A Preferred so surrendered. Instead of any fractional share of Common Stock that would otherwise be issuable upon conversion of any shares of Series A Preferred, the Corporation will
pay a cash adjustment in respect of such fractional interest in an amount equal to the same fraction of the Market Price per share of Common Stock at the close of business on the business day prior to the day of conversion. 
 (e) The Corporation shall reserve out of its authorized but unissued shares of Common Stock or its shares of Common Stock held in treasury sufficient
shares of Common Stock to permit the conversion of the Series A Preferred at all times. All shares of Common Stock that are issued upon conversion of the Series A Preferred shall be validly issued, fully paid and non-assessable. 
 (f) The issuance of certificates for shares of Common Stock upon the conversion of shares of Series A Preferred shall be made without charge to the
holders of shares of Series A Preferred converting such shares of Series A Preferred for any issue or stamp tax in respect of the issuance of such certificates, and such certificates shall be issued in the respective names of, pro in such names as
may be directed by, the holders of shares of Series A Preferred converted. 
 (g) Shares of Common Stock held in the treasury of the
Corporation may in its discretion be delivered upon any conversion of shares of the Series A Preferred. 
 (h) All certificates for the
shares of Series A Preferred and any shares of Common Stock issued upon conversion thereof shall bear such restrictive legends as may be required by the Securities Act of 1933 or any regulation thereunder. The certificates evidencing such shares
shall also bear any legends required under applicable state, local or foreign law governing such securities. When shares of Series A Preferred and any shares of Common Stock issued upon conversion thereof are no longer subject to transfer
restrictions under the Securities Act of 1933 or applicable state, local or foreign law governing such securities, the Corporation shall, upon request from the holder and surrender of the original certificate, issue replacement certificates without
restrictive legends. 
  

 Page 8 

 9. Registrable Common Stock: Initial Registration and Piggy-Back Registration Rights. 
 (a) Definitions. As used in this Section 9, the following terms shall have the meanings set forth herein: 
 “Registrable Common Stock” shall mean the shares of Common Stock issued or issuable upon conversion of the Series A Preferred pursuant to
Section 8. 
 “Registration Statement” shall mean any registration statement that the Corporation files with the Securities
and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Act”), that registers the resale of Registrable Common Stock pursuant to the provisions of this Certificate, including the Prospectus,
amendments and supplements to such Registration Statement, including post-effective amendments, and all exhibits and all material incorporated by reference in such Registration Statement. 
 “Prospectus” shall mean the prospectus included in any Registration Statement, as amended or supplemented by any prospectus supplement with
respect to the terms of the offering of any portion of the Registrable Common Stock covered by the Registration Statement and by all other amendments and supplements to the prospectus, including post-effective amendments and all material
incorporated by reference in such prospectus. 
 (b) Initial Registration. Within 180 days after the Closing Date, the Corporation
shall file an appropriate Registration Statement under the Act for the purpose of registering all shares of Registrable Common Stock issuable upon the conversion of the Series A Preferred; (ii) use all reasonable efforts to cause such
Registration Statement to become effective as promptly as practicable; and (iii) use all reasonable efforts to maintain the effectiveness of such Registration Statement for a period of not less than 24 months from the Closing Date; provided,
however, that if the holders of more than two-thirds of the shares of Series A Preferred outstanding on the Closing Date elect to convert their shares of Series A Preferred into Common Stock in accordance with the provisions hereof prior to the
expiration of such 24 month period, the Corporation shall have the right to withdraw or cause to lapse the Registration Statement filed pursuant to this Section 9(b). 
 (c) Piggy-Back Registration. If at any time after the date hereof, the Corporation determines to file a registration statement under the
Securities Act relating to a proposed sale to the public by the Corporation of shares of Common Stock (but excluding registrations on Form S-4 or Form S-8 or similar forms hereafter in effect), the Corporation shall: 
 (i) promptly give to each holder of Series A Preferred or Registrable Common Stock written notice thereof (which will include a list of
the jurisdictions in which the Corporation intends to attempt to qualify such securities under the applicable blue sky or other state securities laws, the proposed offering price, and the plan of distribution); 
 (ii) include in such registration (and any related qualification under blue sky laws or other compliance), and in any underwriting
involved therein, all the Registrable Common Stock specified in a written notice from the Corporation, by any holder of Registrable Common Stock; and 
 (iii) use its best efforts to cause the managing underwriter or underwriters of such proposed underwritten offering to permit the Registrable Common Stock requested to be included in the Registration Statement for
such offering to be included on the same terms and conditions as any similar securities of the Corporation included therein. Notwithstanding the foregoing, if the managing underwriter or underwriters of such offering deliver a written opinion to the
holders of such Registrable Common Stock that marketing considerations require a limitation in the number of shares of Common Stock offered pursuant to any such Registration Statement, then, subject to the advice of said managing underwriter or
underwriters as to the size and composition of the offering, such limitation shall be imposed first against any other holders of the Corporation’s securities that do not have equivalent registration rights and then pro rata among:
(A) the Registrable Common Stock to be included in the Registration Statement pursuant to Section 9(f); (B) all other holders who have equivalent registration rights; and (C) all shares of Common Stock to be issued for the
account of the Corporation. 
 (d) Restrictions on Public sale by Holder of Registrable Common Stock. Each holder of Registrable
Common Stock whose Registrable Common Stock is covered by a Registration Statement filed pursuant to Section 9(c) agrees, if requested in writing by the managing underwriter or underwriters in an underwritten offering, not to effect any public
sale or distribution of securities of the Corporation of the same class as the securities included in 
  

 Page 9 

 such Registration Statement, including a sale pursuant to the Rule 144 under the Securities Act (except as part of such
underwritten registration), during the seven-day period prior to, and during the 90-day period following, the effective date of the Registration Statement for each underwritten offering made pursuant to such Registration Statement, to the extent
timely notified in writing by the Corporation or the managing underwriter or underwriters. 
 The foregoing provisions shall not apply to any
holder of Registrable Common Stock if such holder is prevented by applicable statute or regulation from entering into any such agreement; provided that any such holder shall undertake, in its request to participate in any such offering, not
to effect any public sale or distribution of the Registrable Common Stock commencing on the date of sale of such Registrable Common Stock unless it has provided 45 days’ prior written notice of such sale or distribution to the underwriter or
underwriters. 
 10. Registration Procedures. In connection with the Corporation’s registration obligations pursuant to
Section 9 hereof, the Corporation will use all reasonable efforts to effect such registration to permit the sale of such Registrable Common Stock in accordance with the intended method or methods of disposition thereof, and pursuant thereto the
Corporation will: 
 (a) before filing a Registration Statement or Prospectus or any amendments or supplements thereto, furnish to the holders
of the Registrable Common Stock covered by such Registration Statement and the underwriters, if any, copies of all such documents proposed to be filed; 
 (b) prepare and file with the SEC such amendments and post-effective amendments to any Registration Statement, and such supplements to the Prospectus, as may be reasonably requested by any holder of Registrable Common
Stock or any underwriter or underwriters of Registrable Common Stock or as may be required by the rules, regulations or instructions applicable to the registration form utilized by the Corporation under the Securities Act or otherwise necessary to
keep such Registration Statement effective for the applicable period and cause the Prospectus as so supplemented to be filed pursuant to Rule 424 under the Securities Act; and comply with the provisions of the Securities Act with respect to the
disposition of all securities covered by such Registration Statement during the applicable period in accordance with the intended methods of dispositions by the sellers thereof set forth in such Registration Statement or supplement to the
Prospectus; 
 (c) notify the selling holders of Registrable Common Stock and the managing underwriters, if any, promptly, and (if requested
by any such person) confirm such advice in writing, 
 (i) when the Prospectus or any Prospectus supplement or post-effective
amendment has been filed, and with respect to the Registration Statement or any post-effective amendment, when the same has become effective; 
 (ii) of any request by the SEC for amendments or supplements to the Registration Statement or the Prospectus or for additional information; 
 (iii) of the issuance by the SEC of any stop order suspending the effectiveness of the Registration Statement or the initiation of any
proceedings for that purpose; 
 (iv) of the receipt by the Corporation of any notification with respect to the suspension of
the qualification of the Registrable Common Stock for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and 
 (v) of the existence of any fact which results in the Registration Statement, the Prospectus or any document incorporated therein by reference containing an untrue statement of material fact or omitting to state a
material fact required to be stated therein or necessary to make the statements therein not misleading; 
 (d) make reasonable effort to
obtain the withdrawal of any order suspending the effectiveness of the Registration Statement; 
 (e) if reasonably requested by the managing
underwriter or underwriters or the holders of a majority in number of the Registrable Common Stock being sold in connection with an underwritten offering, incorporate in 
  

 Page 10 

 a Prospectus supplement or post-effective amendment such necessary information as the managing underwriter or
underwriters and the holders of a majority in number of the Registrable Common Stock being sold reasonably request to have included therein relating to the plan of distribution with respect to such Registrable Common Stock, including, without
limitation, information with respect to the amount of Registrable Common Stock being sold to such underwriter or underwriters and with respect to any other terms of the underwritten (or best efforts underwritten) offering of the Registrable Common
Stock to be sold in such offering; 
 (f) at the request of any selling holder of Registrable Common Stock, furnish to such selling holder of
Registrable Common Stock and each underwriter, if any, without charge, at least one signed copy of the Registration Statement. 
 (g) deliver
to each selling holder of Registrable Common Stock and the underwriters, if any, without charge, copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such persons may reasonably request;

 (h) register or qualify the Registrable Common Stock covered by such Registration Statement under the securities or blue sky laws of such
states as the Corporation shall determine (but in any event not fewer than 10 states) and do any and all other acts and things which may be necessary or advisable to enable the holder of Registrable Common Stock to consummate the public sale or
other disposition in such jurisdictions of such Registrable Common Stock owned by such holder; provided, however, that the Corporation shall not be required to qualify to do business as a foreign corporation in any state where it is not then
so qualified, nor take any action which will subject it to general service or process in any state where it is not then so subject; 
 (i)
cooperate with the selling holders of Registrable Common Stock and the managing underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Common Stock to be sold and not bearing any restrictive
legends; and enable such Registrable Common Stock to be in such denominations and registered in such names as the managing underwriters may request; 
 (j) if any fact contemplated by Section 10(c)(5) above shall exist, prepare a supplement or post-effective amendment to the Registration Statement or the related Prospectus or any document incorporated therein by
reference or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Common Stock, the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact required to
be stated therein or necessary to make the statements therein not misleading; 
 (k) cause all Registrable Common Stock covered by the
Registration Statement to be listed on the securities exchange on which the Common Stock is then listed if requested by the holders of a majority in number of such Registrable Common Stock or by the managing underwriter or underwriters, if any:

 (l) not later than the effective date of the applicable Registration Statement, provide a CUSIP number for all Registrable Common Stock and
provide the transfer agent(s) with printed certificates for the Registrable Common Stock which are in a form eligible for deposit with Depositary Trust Holdings; and 
 (m) otherwise use its best efforts to comply with all applicable rules and regulations of the SEC. 
 The
Corporation may required each seller of Registrable Common Stock as to which any registration is being effected to furnish to the Corporation such information regarding such seller and the distribution of such securities as the Corporation may from
time to time reasonably request in writing. 
 Each holder of Registrable Common Stock agrees by acquisition of such Registrable Common Stock
that, upon receipt of any notice from the Corporation of the happening of any event of the kind described in paragraph (j) above, such holder will forthwith discontinue disposition of Registrable Common Stock until such holder’s receipt of
the copies of the supplemented or amended Prospectus contemplated by paragraph (j) above, or until it is advised in writing by the Corporation that the use of the Prospectus may be resumed, and has received copies of any additional or
supplemental filings which are incorporated by reference in the Prospectus, and, if so directed by the Corporation such holder will deliver to the Corporation (at the Corporation’s expense) all copies, other than permanent file copies then in
such holder’s possession, of the Prospectus covering such Registrable Common Stock 
  

 Page 11 

 current at the time of receipt of such notice. In the event the Corporation shall give any such notice, the time periods
mentioned in Section 9 hereof shall be extended by the number of days during the period from and including the date of the giving of such notice to and including the date when each seller of Registrable Common Stock covered by such Registration
Statement either receives the copies of the supplemented or amended prospectus contemplated by Section 10 (j) hereof or is advised in writing by the Corporation that the use of the Prospectus may be resumed. 
 11. Registration Expenses. All expenses incident to the Corporation’s performance of or compliance with the registration provisions contained
in Section 9 will be paid by the Corporation, regardless of whether the Registration Statement becomes effective. 
 12.
Indemnification. 
 (a) Indemnification by the Corporation. The Corporation agrees to indemnify and hold harmless each holder of
Registrable Common Stock, its officers, directors, employees and agents and each person who controls such holder within the meaning of either Section 15 of the Securities Act or Section 20 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”) (each such person being sometimes hereinafter referred to as an “Indemnified Holder”) from and against all losses, claims, damages, liabilities and expenses (including reasonable costs of investigation and
legal expenses) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or Prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or
arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages, liabilities or
expenses arise out of or are based upon any such untrue statement or omission or allegation thereof based upon information furnished in writing to the Corporation by such holder expressly for use therein; provided, however, that the Corporation
shall not be liable in any such case to the extent that any such loss, claim, damage, liability or expense arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in any preliminary
prospectus if (i) such holder failed to send or deliver a copy of the Prospectus with or prior to the delivery of written confirmation of the sale of Registrable Common Stock and (ii) the Prospectus would have completely corrected such
untrue statement or omission; and provided, further, that the Corporation shall not be liable in any such case to the extent that any such loss, claim, damage, liability or expense arises out of or is based upon an untrue statement or alleged untrue
statement or omission or alleged omission in the Prospectus, if such untrue statement or alleged untrue statement, omission or alleged omission is completely corrected in an amendment or supplement to the Prospectus and if, having previously been
furnished by or on behalf of the Corporation with copies of the Prospectus as so amended or supplemented, such holder thereafter fails to deliver such Prospectus as so amended or supplemented prior to or concurrently with the sale of Registrable
Common Stock to the person asserting such loss, claims, damage, liability or expense who purchased such Registrable Common Stock which is the subject thereof from such holder. 
 If any action or proceeding (including any governmental investigation or inquiry) shall be brought or asserted against an Indemnified Holder in respect
of which indemnity may be sought from the Corporation, such Indemnified Holder shall promptly notify the Corporation in writing, and the Corporation shall assume the defense thereof, including the employment of counsel. Such Indemnified Holder shall
have the right to employ separate counsel in any such action and to participate in the defense thereof, but the fees and expenses of such counsel shall be the expense of such Indemnified Holder unless (a) the Corporation has agreed to pay such
fees and expenses or (b) the Corporation shall have failed to assume the defense of such action or proceeding or (c) the named parties to any such action proceeding (including any interpleaded parties) include both such Indemnified Holder
and the Corporation, and such Indemnified Holder shall have been advised by counsel that representation of both parties by the same counsel would be inappropriate due to actual or potential material differing interests between them (in which case,
if such Indemnified Holder notifies the Corporation in writing that it elects to employ separate counsel at the expense of the Corporation, the Corporation shall not have the right to assume the defense of such action or proceeding on behalf of such
Indemnified Holder, it being understood, however, that the Corporation shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of
the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm of attorneys at any time for such Indemnified Holder and any other Indemnified Holders, which firms shall be designated in
writing by such Indemnified Holders). The Corporation shall not be liable for any settlement of any such action or proceeding effected without its written consent. 
  

 Page 12 

 (b) Indemnification by Holder of Registrable Common Stock. Each holder of Registrable Common Stock
agrees to indemnify and hold harmless the Corporation, its directors, officers, employees and agents and their affiliates, and each person, if any, who controls the Corporation within the meaning of each Section 15 of the Securities Act or
Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Corporation to such holder, but only with respect to information relating to such holder furnished in writing by such holder expressly for use in any
Registration Statement or Prospectus, or any amendment or supplement thereto, or any preliminary prospectus. In case any action or proceeding shall be brought against the Corporation or its directors, officers, employees, agents or their affiliates
or an such controlling person, in respect of which indemnity may be sought against a holder of Registrable Common Stock, the Corporation or its directors, officers, employees, agents or their affiliates or such controlling person shall have the
rights and duties given to each holder by preceding paragraph. In no event shall the liability of any selling holder of Registrable Common Stock hereunder be greater in amount than the dollar amount of the proceeds received by such holder upon the
sale of the Registrable Common Stock giving rise to such indemnification obligation. 
 (c) Contribution. If the indemnification
provided for in this Section 12 is unavailable to an indemnified party under Section 12 (a) or Section 12(b) hereof (other than by reason of exceptions provided in those Sections) in respect of any losses, claims, damages,
liabilities or expenses referred to therein, then each applicable indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims,
damages, liabilities or expenses in such proportion as is appropriate to reflect the relative fault of the Corporation, on the one hand, and of the Indemnified Holder, on the other hand, in connection with the statements or omissions which resulted
in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative fault of the Corporation, on the one hand, and the Indemnified Holder, on the other hand, shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Corporation or by the Indemnified Holder and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or mission. The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to
above shall be deemed to include, subject to the limitations set forth in the second paragraph of Section 12(a), any legal or other fees or expenses reasonably incurred by such party in connection with investigating or defending any action or
claim. 
 The Corporation and each holder of Registrable Common Stock agree that it would not be just and equitable if contribution pursuant
to this Section 12(c) were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the
provisions of this Section 12 (c), an Indemnified Holder shall not be required to contribute any amount in excess of the amount by which the total price at which the Registrable Common Stock sold by such Indemnified Holder or its affiliated
Indemnified Holders and distributed to the public were offered to the public exceeds the amount of any damages which such Indemnified Holder, or its affiliated Indemnified Holders, has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. 
 13. Restrictions and Limitations. So long as any shares of Series A Preferred remain outstanding, the
Corporation shall not, and shall not permit any corporation at least 50% of whose outstanding voting stock shall be owned directly or indirectly by the Corporation (a “Subsidiary”) or any subsidiary of a subsidiary to, without the vote or
written consent by the holders of at least two-thirds (66.67%) of the outstanding shares of Series A Preferred: 
  

	 	(a)	redeem, purchase or otherwise acquire for value, any share or shares of Series A Preferred otherwise than by conversion in accordance with paragraph 8 hereof;

  

 Page 13 

	 	(b)	effect any sale, lease, assignment, transfer or other conveyance of all or substantially all of the assets of the Corporation or any Subsidiary, or any consolidation or merger
involving the Corporation or any Subsidiary (except a merger of a Subsidiary with or into the Corporation or any other Subsidiary) or any reclassification or other change of any stock, or any recapitalization of the Corporation;

  

	 	(c)	increase or decrease (other than by conversion) the total number of authorized shares of Series A Preferred; 

  

	 	(d)	designate any additional series of Preferred Stock having rights, preferences and privileges which would impair in any manner the rights, preferences and privileges of the Series A
Preferred or reduce the amount payable to the holders of Series A Preferred upon the voluntary or involuntary liquidation, dissolution or winding up of the Corporation, 

  

	 	(e)	amend its Certificate of Incorporation if such amendment would change any of the rights, preferences, privileges of or limitations provided herein for the benefit of the holders of
Series A Preferred, including, but not limited to amendments which would change the voting rights of the holders of Series A Preferred in relation to the voting rights of the holders of Common Stock, reduce the amount payable to the holders of
Series A Preferred upon the voluntary or involuntary liquidation, dissolution or winding up of the Corporation, change the relative seniority of the liquidation preferences of the holders of Series A Preferred, or cancel or otherwise modify the
conversion rights of the Series A Preferred provided for in paragraph 8 hereof. Notwithstanding the generality of the foregoing, nothing herein contained shall be construed to limit or otherwise impair the Corporation’s rights to designate
additional series of Preferred Stock or other securities which have rights superior to the rights of the Series A Preferred herein set forth. 

 14. Amendment. Any of the rights specified in this Certificate of Designation may be amended, provided, that all amendments to this Certificate of Designation shall be made in accordance with the provisions of
the GCLD in effect from time to time, provided that any such amendment must be approved by the holders of not less than two-thirds (66.67%) of all Series A Preferred then outstanding. Any such amendment so effected shall be binding upon the
Corporation and any holder of Series A Preferred or Registrable Common Stock. 
 THE UNDERSIGNED chief executive officer and secretary
of Axion Power International, Inc., hereby make this certificate, declaring and certifying that this is the duly authorized act and deed of the Corporation and the facts herein stated are true, and accordingly has hereunto set his hand this 26th day
of October 2006. 
  

			
	Axion Power International, Inc.
	a Delaware corporation
		
	By:	 	 /s/ Thomas Granville

		 	Thomas Granville, Chief Executive Officer
		
	Attest:	 	 /s/ John L. Petersen

		 	John L. Petersen, Secretary and General Counsel

  

 Page 14Exhibit 10.1

 Exhibit 10.1 
  

			
		 	 CERTAIN PORTIONS HEREOF DENOTED WITH
 “[***]” HAVE BEEN OMITTED PURSUANT TO A
 REQUEST FOR CONFIDENTIAL TREATMENT AND
 HAVE BEEN FILED SEPARATELY WITH THE
 COMMISSION

 INDUSTRIAL LEASE AGREEMENT 
 Between 
 Landlord: Marley Neck 3R, LLC 
 And 
 Tenant: Under Armour, Inc. 

Dated: October 19, 2006. 
  

 
TABLE OF CONTENTS 
  

			
	 	  	 
	 1.
	  	
PREMISES
		
	 2.
	  	
LEASE TERM
		
	 3.
	  	
LANDLORD’S FAILURE TO GIVE POSSESSION
		
	 4.
	  	
QUIET ENJOYMENT
		
	 5.
	  	
BASE RENT
		
	 6.
	  	
RENT PAYMENT
		
	 7.
	  	
OPERATING EXPENSES/TAXES
		
	 8.
	  	
LATE CHARGE AND INTEREST
		
	 9.
	  	
PARTIAL PAYMENT
		
	 10.
	  	
SECURITY DEPOSIT
		
	 11.
	  	
USE OF PREMISES/ENVIRONMENTAL MATTERS
		
	 12.
	  	
WASTE DISPOSAL
		
	 13.
	  	
ENTERING PREMISES
		
	 14.
	  	
RULES AND REGULATIONS
		
	 15.
	  	
UTILITIES
		
	 16.
	  	
SIGNS
		
	 17.
	  	
ASSIGNMENT AND SUBLETTING
		
	 18.
	  	
MORTGAGEE’S RIGHTS
		
	 19.
	  	
REPAIRS BY LANDLORD
		
	 20.
	  	
REPAIRS BY TENANT
		
	 21.
	  	
ALTERATIONS AND IMPROVEMENTS
		
	 22.
	  	
LIENS
		
	 23.
	  	
DESTRUCTION OR DAMAGE

  

 i 

			
	 24.
	  	
EMINENT DOMAIN
		
	 25.
	  	
DAMAGE OR THEFT OF PERSONAL PROPERTY
		
	 26.
	  	
INSURANCE; WAIVERS
		
	 27.
	  	
LIABILITY OF TENANT
		
	 28.
	  	
ACCEPTANCE AND WAIVER
		
	 29.
	  	
TENANT’S ESTOPPEL
		
	 30.
	  	
NOTICES
		
	 31.
	  	
ABANDONMENT OF PREMISES
		
	 32.
	  	
DEFAULT
		
	 33.
	  	
LANDLORD’S REMEDIES
		
	 34.
	  	
LANDLORD’S RIGHT TO CURE DEFAULTS
		
	 35.
	  	
CUMULATIVE RIGHTS/NO WAIVER
		
	 36.
	  	
ATTORNEYS’ FEES
		
	 37.
	  	
SERVICE OF NOTICE
		
	 38.
	  	
SURRENDER OF PREMISES
		
	 39.
	  	
REMOVAL OF FIXTURES
		
	 40.
	  	
HOLDING OVER
		
	 41.
	  	
RELOCATION
		
	 42.
	  	
FORCE MAJEURE
		
	 43.
	  	
SALE
		
	 44.
	  	
LIMITATION OF LIABILITY
		
	 45.
	  	
BROKER DISCLOSURE
		
	 46.
	  	
RELATIONSHIP OF PARTIES
		
	 47.
	  	
SECTION TITLES
		
	 48.
	  	
WAIVER OF TRIAL BY JURY; SERVICE OF PROCESS; AND VENUE

  

 ii 

			
	 49.
	  	
PARTIAL INVALIDITY
		
	 50.
	  	
ENTIRE AGREEMENT
		
	 51.
	  	
AUTHORITY
		
	 52.
	  	
FINANCIAL STATEMENTS AND INFORMATION
		
	 53.
	  	
GOVERNING LAW
		
	 54.
	  	
LANDLORD’S TITLE
		
	 55.
	  	
TIME OF ESSENCE
		
	 56.
	  	
SURVIVAL
		
	 57.
	  	
INDEPENDENT COVENANTS
		
	 58.
	  	
PREPARATION OF LEASE
		
	 59.
	  	
SUCCESSORS AND ASSIGNS
		
	 60.
	  	
SUBMISSION OF AGREEMENT
		
	 61.
	  	
COUNTERPARTS
		
	 62.
	  	
***
		
	 63.
	  	
USA PATRIOT ACT AND ANTI-TERRORISM LAWS

  

 iii 

 LIST OF EXHIBITS 
  

			
	A	  	Legal Description
	A-1	  	Plan of Premises
	B	  	Initial Improvements
	C	  	Substantial Completion/Acceptance Certificate
	D	  	Rules and Regulations
	E	  	Non-Disturbance, Attornment, Estoppel and Subordination Agreement

  

 iv 

 BASIC LEASE PROVISIONS 
 The following sets forth some of the basic provisions of the Lease. In the event of any conflict between the terms of these Basic Lease Provisions and
the referenced Sections of the Lease, the referenced Sections of the Lease shall control. These Basic Lease Provisions are hereby incorporated into and form a party of the Industrial Lease Agreement to which they are attached. 
  

					
	1.	  	Building (See Section 1):	  	1040 Swan Creek Drive
		  		  	Swan Creek Distribution
		  		  	Baltimore, Maryland 21226
			
	2.	  	Rentable Square Feet of Premises:	  	308,220
		  	Rentable Square Feet of Building:	  	308,220
		  	(See Section 1)	  	
			
	3.	  	Term (See Section 2):	  	Seventy-eight (78) full calendar months
		  	Target Commencement Date:	  	November 1, 2006 subject to Section 2
		  	Target Expiration Date:	  	April 30, 2013 subject to Section 2
			
	4.	  	Base Rent (See Section 5):	  	

  

					
	 Lease Year
	  	 Annual Rate Per Rentable
 Square Foot of Premises
	 	 Monthly
 Installment

	 1
	  	$***	 	$***
	 2
	  	$***	 	$***
	 3
	  	$***	 	$***
	 4
	  	$***	 	$***
	 5
	  	$***	 	$***
	 6
	  	$***	 	$***

  

					
	5.	  	Rent Payment Address (See Section 5)	  	
		  	 Marley Neck 3R, LLC
 c/o Property Management
Associates
 7520 Parkway Drive, Suite 230
 Hanover, Maryland
21076
	  	
			
	6.	  	Use of Premises:	  	Warehousing and office purposes ancillary thereto
			
	7.	  	Tenant’s Share (See Section 7):	  	100%
			
	8.	  	Security Deposit (See Section 10):	  	$***
			
	9.	  	Parking Spaces (See Section 1):	  	172

  

					
	10.	 	Tenant Improvement Allowance:	  	$*** See Section 1 of Lease regarding work required to be performed by Landlord at its cost which will not be charged to this allowance
			
	11.	 	Landlord’s Broker (See Section 45):	  	Transwestern Commercial Services
		 	Tenant’s Broker (See Section 45):	  	AGM Commercial Real Estate Advisors
			
	12.	 	Notice Address (See Section 30)	  	
			
		 	Landlord	  	Tenant
		 	Marley Neck 3R, LLC	  	Under Armour, Inc.
		 	c/o ASB Capital Management LLC	  	1020 Hull Street
		 	7501 Wisconsin Avenue	  	Baltimore, Maryland 21230
		 	Suite 200E	  	Attn: J. Scott Plank
		 	Bethesda, Maryland 20814	  	
		 	Attn: Mandi Wedin	  	with copies to:
		 		  	Under Armour, Inc.
		 	with a copy to:	  	1020 Hull Street
		 	Transwestern Commercial Services	  	Baltimore, Maryland 21230
		 	6700 Alexander Bell Drive	  	Attn: Kevin Haley, General Counsel
		 	Suite 350	  	
		 	Columbia, Maryland 21046	  	and
		 	Attn: Mary Frances Costantino	  	
		 		  	WilmerHale
		 		  	100 Light Street
		 		  	Baltimore, Maryland 21202
		 		  	Attn: Mark Pollak, Esq.

  

 2 

 IN WITNESS WHEREOF, Landlord and Tenant have executed and delivered this instrument under seal as of the
date set forth on the first page hereof. 
  

									
	Landlord:	    	Tenant:
		
	MARLEY NECK 3R, LLC,	    	UNDER ARMOUR, INC.,
	a Delaware limited liability company	    	a Maryland corporation
				
	By:	 	ASB Capital Management, LLC,	    	By:	 	 /s/ Wayne A. Marino

		 	a Maryland limited liability company,	    	Print Name:	 	Wayne A. Marino
		 	its agent	    	Its:	 	Executive Vice President and Chief Financial Officer
					
		 	By:	 	 /s/ Mandi L. Wedin
	    		 	
		 		 	Mandi L. Wedin	    		 	
		 		 	Vice President	    		 	
	ATTEST/WITNESS:	    	ATTEST/WITNESS:
				
	By:	 	 /s/ John Skram
	    	By:	 	 /s/ Velma Dietz

	Print Name:	 	John Skram	    	Print Name:	 	Velma Dietz
	Its:	 	Managing Director	    	Its:	 	Executive Assistant & Notary

  

 3 

 INDUSTRIAL LEASE AGREEMENT 
 THIS INDUSTRIAL LEASE AGREEMENT (hereinafter called the “Lease”) is made and entered into as of the date appearing on the first page hereof by
and between the Landlord and Tenant identified above. 
 1. 
Premises. Landlord does hereby rent and lease to Tenant and Tenant does hereby rent and lease from Landlord the Premises located in the Building identified in the Basic Lease Provisions, situated on a portion of the
real property described in Exhibit A attached hereto and allocated to the Building (the portion of such real property allocable to the Building is hereinafter referred to as the “Property”, with the balance of such real property allocated
to that building located adjacent to the Building at 1041 Swan Creek Drive [if the Building is located at 1040 Swan Creek Drive] or at 1040 Swan Creek Drive [if the Building is located at 1041 Swan Creek Drive]), such Premises as all further shown
by diagonal lines on the drawing attached hereto as Exhibit A-1 and made a part hereof by reference. Tenant has inspected the Premises and agrees to accept the same “AS IS,” without representation or warranty on the part of Landlord to
perform any improvements therein, except with respect to the Premises initially leased under this Lease: (i) Landlord shall, at its cost, cause the roof of the Premises, heating system serving the warehouse portion of the Premises, the water
system serving the Premises, the sewer system serving the Premises, Building standard interior lighting in the warehouse portion of the Premises, fire sprinkler system serving the Premises, loading doors for the Premises, loading equipment for the
Premises and exterior walls of the Premises, all as existing on the date of this Lease to be in good working order and condition as of the date on which Landlord delivers possession of the Premises to Tenant; (ii) Landlord shall, at its cost,
cause electric service provided to the Premises to be separately metered, it being understood and agreed that Tenant shall be responsible for paying for all electric service supplied to the Premises during the Term; and (iii) Landlord shall, at
its cost, install twenty-five (25) footcandles metal halide fixtures in an open configuration in the warehouse portion of the Premises (i.e. of that portion of the Premises excluding the office space to be constructed pursuant to Exhibit
B attached to this Lease). Landlord represents to Tenant that, to Landlord’s knowledge (as defined below), the Building complies with all currently applicable laws and regulations of governmental authorities having jurisdiction over the
Building, including Environmental Laws (as defined in Subsection 11(a)(1) of this Lease). The term “Landlord’s knowledge” as used herein shall mean actual knowledge of Ms. Mandi Wedin (“Landlord’s Representative”)
and shall not be construed, by invocation or otherwise, to refer to the knowledge of any other person or entity or to impose or have imposed upon Landlord’s Representative any duty to investigate the matters to which such knowledge, or the
absence thereof, pertains. Information actually known to Landlord’s Representative excludes information of which Tenant or any of its employees or agents has knowledge or notice prior to the date of this Lease. There shall be no personal
liability on the part of Landlord’s Representative arising out of any representation or warranty made in this Agreement. In the event of a breach of Landlord’s forgoing representation, Tenant’s sole remedy for the same shall be to
require Landlord to take action to cause the subject matter to comply to the subject applicable laws, at Landlord’s sole cost. In such event, Tenant shall reasonably cooperate with Landlord in order to permit Landlord to perform the subject
work. Landlord and Tenant agree that the number of square feet described in Item 2 of the Basic Lease Provisions has been confirmed and conclusively agreed upon by the parties. No easement for light, air or view is granted hereunder or included
within or appurtenant to the Premises. Subject to the terms of this Lease, Tenant shall have access to the Premises twenty-four (24) hours per day, seven (7) days per week, fifty-two (52) weeks per year. 

 Tenant shall have the non-exclusive right, in common with the other parties occupying the Building, to
use the grounds, sidewalks, parking areas, driveways and alleys of the Property designated by Landlord for the common use of tenants of the Building, subject to such reasonable rules and regulations as Landlord may from time to time prescribe.
Tenant may park only up to the maximum number of automobiles and trucks shown in Item 9 of the Basic Lease Provisions near the Premises during normal business hours on a non-exclusive basis. Outside storage, including without limitation, trucks
and other vehicles, is prohibited without Landlord’s prior consent, which may be withheld in Landlord’s sole and absolute discretion. Tenant shall not succeed to any of Landlord’s easement rights over and relating to the Building or
the Property, nor shall Tenant obtain any rights to common areas, as designated by Landlord, other than those rights specifically granted to Tenant in this Lease. Landlord shall have the sole right of control over the use, maintenance,
configuration, repair and improvement of the common areas. Landlord may make such changes to the use or configuration of, or improvements comprising, the Building and the Property as Landlord may elect without liability to Tenant, subject only to
Tenant’s vehicular parking rights shown in Item 9 of the Basic Lease Provisions and no material interference with Tenant’s business operations in the Building, except to the extent such material interference may not be avoided with
respect to the performance of Landlord’s obligations under this Lease or in connection with work performed by Landlord to comply with applicable laws, in which event Landlord shall use its commercially reasonable efforts to minimize
interference with Tenant’s business operations in the Premises during the course of Landlord’s performance of the subject work. 
 2. 
Lease Term. 
 2.1 General. Tenant shall have and hold the Premises for the term (“Term”)
identified in the Basic Lease Provisions commencing on the date (the “Commencement Date”) which is the earlier of (i) the date on which Landlord notifies Tenant that the Premises are substantially complete (or would have been
substantially complete but for any delays caused by Tenant, its agents and employees), or (ii) the date Tenant first occupies all or any portion of the Premises for the conduct of its business, and shall terminate at midnight on the last day of
the Term (the “Expiration Date”), unless sooner terminated or extended as hereinafter provided. If the Commencement Date occurs on a day other than the first day of a calendar month, then the Term shall be for the period identified in the
Base Lease Provisions plus the number of days beginning on the Commencement Date and ending on the last day of the calendar month in which the Commencement Date occurs. Promptly following the Commencement Date, Landlord and Tenant shall enter into a
letter agreement in the form attached hereto as Exhibit C, specifying and/or confirming the Commencement Date and the Expiration Date. 
 2.2
Option to Extend. 
 2.2.1 Option Right. Tenant shall have one (1) option to extend the Term (the “Option to
Extend”) for a period of five (5) years (the “Option Term”), which option shall, if at all, be exercisable by Tenant’s delivery of notice to Landlord in accordance with Section 2.2.1.2 below, provided that Tenant
is not in default under this Lease as of the date of 
  

 2 

 delivery of such notice or on the date for the proposed commencement of the Option Term. The Option to Extend shall be
personal to the original named Tenant under this Lease, shall be nontransferable and shall be exercisable by Tenant only if Tenant is in possession of the entire Premises. Upon the proper exercise of the Option to Extend, the then current Term shall
be extended for the Option Term and all of the terms, covenants and conditions of this Lease shall continue in full force and effect during the Option Term, except that (i) the annual rate of rent payable by Tenant for the Premises during the
Option Term shall be as set forth below in this Section 2.2, and (ii) Tenant shall have no further right to extend the Term. If Tenant fails to timely and properly exercise the Option to Extend in accordance with this Section 2.2, the
Option to Extend shall be of no further force or effect. 
 2.2.1.1 Option Rent. *** 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 2.2.1.2
Exercise of Option. The right set forth in this Section 2.2 shall be exercised by Tenant, if at all, by delivering notice to Landlord not more than twelve (12) months nor less than nine (9) months prior to
the last day of the then current Term. *** 
  

 3 

  
  
  
  
  
  
 3. 
Landlord’s Failure to Give Possession. Landlord shall not be liable for damages to Tenant for failure to deliver possession of the Premises to Tenant if such failure is due to any previous tenant’s failure
to vacate the Premises or any other matter beyond Landlord’s control, except that the commencement of the Term shall be delayed until Landlord delivers possession of the Premises to Tenant (so long as Tenant is not responsible for such failure
or delay). 
 4. 
Quiet Enjoyment. Tenant, upon payment in full of the required Rent and full performance of the terms, conditions, covenants and agreements contained in this Lease, shall peaceably and quietly have, hold and enjoy
the Premises during the Term hereof, subject to this Lease and any ground lease, mortgage or trust deed now or hereafter encumbering the Building or the Property. Landlord shall not be responsible for the acts or omissions of Tenant, any other
tenant, or any third party that may interfere with Tenant’s use and enjoyment of the Premises. 
 5. 
Base Rent. Tenant shall pay to Landlord, at the address stated in the Basic Lease Provisions or at such other place as Landlord shall designate in writing to Tenant, annual base rent (“Base Rent”) in the
amounts set forth in the Basic Lease Provisions. The term “Lease Year”, as used in the Basic Lease Provisions and throughout this Lease, shall mean each and every consecutive twelve (12) month period during the Term of this Lease,
with the first such twelve (12) month period commencing on the *** month anniversary of the Commencement Date; provided, however, if the *** month anniversary of the Commencement Date occurs other than on the first (1st) day of a calendar month, the first Lease Year shall be that partial month plus the first full twelve (12) months
thereafter. Notwithstanding the foregoing, Tenant’s obligation for the payment of Base Rent shall be abated for the *** (***) month period beginning on the Commencement Date. The term “Rent Commencement Date” as used herein shall
mean the first day following the last day of the *** (***) month period beginning on the Commencement Date. Notwithstanding the foregoing, the amount of Base Rent payable by Tenant for the Premises for the *** (***) through ***
(***) months of the Term shall be equal to *** Dollars ($***) per month (calculated at the rate of $*** per
square foot for 100,000 square feet), and the amount of Base Rent payable by Tenant for the Premises for the *** (***) through the *** (***) months of the initial Term shall be equal to *** Dollars ($***) per month (calculated at the rate
of $*** per square foot for 200,000 square feet). 
  

 4 

 6. 
Rent Payment. The Base Rent for each Lease Year shall be payable in equal monthly installments, due on or before the first (1st) day of each calendar month, in advance, in legal tender of the United States of America, without abatement, demand, deduction or offset of any kind whatsoever, except as may be expressly
provided in this Lease. One full monthly installment of Base Rent (in the amount of $*** - hereafter referred to as the “Initial Base Rent Installment”) shall be due and payable on the date of execution of this Lease by Tenant and shall be
applied to the Base Rent payable by Tenant beginning on the Rent Commencement Date until exhausted. On the first day of the calendar month in which the application of the Initial Base Rent Installment is exhausted, Tenant shall pay to Landlord the
balance of Base Rent for such calendar month in the amount of the monthly installment of Base Rent payable for the subject calendar month reduced by the portion of the Initial Base Rent Installment which is applied to the Base Rent payable for the
subject calendar month. Tenant shall pay, as Additional Rent, all other sums due from Tenant under this Lease (the term “Rent”, as used herein, means all Base Rent, Additional Rent and all other amounts payable hereunder from Tenant to
Landlord). 
 7. 
Operating Expenses/Taxes. 
 (a) Tenant agrees to reimburse Landlord throughout the Term, as
“Additional Rent” hereunder, for Tenant’s Share (as defined below) of: (i) the annual Operating Expenses (as defined below) for each calendar year, or portion thereof, during the Term; and (ii) the annual Taxes (as defined
below) for each calendar year, or portion thereof, during the Term. The term “Tenant’s Share” as used in this Lease shall mean the percentage determined by dividing the square footage of the Premises by the square footage of the
Building. Landlord and Tenant hereby agree that Tenant’s Share with respect to the Premises initially demised by this Lease is the percentage amount set forth in Item 7 of the Basic Lease Provisions. Tenant’s Share of Operating
Expenses and Taxes for any calendar year shall be appropriately prorated for any partial year occurring during the Term. 
 Tenant’s
obligation for the payment of Tenant’s Share of Expenses and Taxes shall be abated with respect to that period beginning on the Commencement Date and ending on the day immediately preceding the Rent Commencement Date. 
 (b) “Operating Expenses” shall mean all costs and amounts incurred by Landlord with respect to the ownership, maintenance and operation of the
Building and the Property including, but not limited to: maintenance, repair and replacement of the plumbing, electrical, mechanical, utility and safety systems, paving and parking areas, roads and driveways; maintenance of exterior areas such as
gardening and landscaping, snow removal and signage; maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; painting; lighting; cleaning; refuse removal; security; utility services
attributable to the common areas; personnel costs directly related to the maintenance or operation of the Building; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or
maintenance of the Building and the Property; fees for required licenses and permits; and a property management fee. Operating Expenses do not include: (a) the cost of capital repairs, replacements or improvements, other than annual
depreciation (based on the useful life of the item under generally accepted accounting principles) on any such capital repair, replacement or improvement, provided that the work to be performed under Section 1 hereof or with the Tenant
Improvement Allowance will neither be an Operating 
  

 5 

 Expense nor be the subject of depreciation that might otherwise be treated as an Operating Expense; (b) debt service
under mortgages or ground rent under ground leases; (c) costs of restoration to the extent of net insurance proceeds received by Landlord; (d) leasing commissions and tenant improvement costs; (e) except to the extent described in
clause (a) above, depreciation of the Building or any improvements therein; and (f) Taxes as defined below. If during all or a portion of any calendar year all space in the Building is not leased to Tenant, and (i) Landlord is not
providing any particular work or service (the cost of which, if performed by Landlord, would be included in Operating Expenses) to a tenant, or (ii) any tenant is separately paying for work or service (the cost of which would otherwise be
included in Operating Expenses), then Operating Expenses for such calendar year shall be deemed to be increased by an amount equal to the additional Operating Expenses which would have been incurred, as reasonably determined by Landlord, for the
subject calendar year if Landlord had provided such work or service to such tenant during the entirety of such calendar year and such tenant was not obligated to separately pay for the same. If all space in the Building is not leased to Tenant
during all or a portion of any calendar year, then Operating Expenses for such calendar year shall be deemed to be increased by an amount equal to the additional Operating Expenses which would have been incurred, as reasonably determined by
Landlord, for the subject calendar year if the Building had been fully occupied during the entire subject calendar year, and the amount so determined shall be deemed to have been the amount of Operating Expenses for such calendar year. If the
Building is operated as part of a complex of buildings or in conjunction with other buildings, then Landlord shall allocate common costs and other amounts among such buildings. 
 (c) “Taxes” shall mean all taxes and assessments of every kind and nature which Landlord shall become obligated to pay with respect to each
calendar year of the Term or portion thereof because of or in any way connected with the ownership, leasing, and operation of the Building and the Property, subject to the following: (i) the amount of ad valorem real and personal property taxes
against Landlord’s real and personal property to be included in Taxes shall be the amount required to be paid for any calendar year, notwithstanding that such Taxes are assessed for a different calendar year (the amount of any tax refunds
received by Landlord during the Term of this Lease shall be deducted from Taxes for the calendar year to which such refunds are attributable); (ii) the amount of special taxes and special assessments to be included shall be limited to the
amount of the installments (plus any interest, other than penalty interest, payable thereon) of such special tax or special assessment payable for the calendar year in respect of which Taxes are being determined; (iii) the amount of any tax or
excise levied by the State or the City where the Building is located, any political subdivision of either, or any other taxing body, on rents or other income from the Building and the Property (or the value of the leases thereon); (iv) there
shall be excluded from Taxes all taxes assessed on the net income realized by Landlord from the Building except those which may be included pursuant to the preceding subsection (iii) above, excess profits taxes, franchise, capital stock, and
inheritance or estate taxes; and (v) Taxes shall also include Landlord’s reasonable costs and expenses (including reasonable attorneys’ fees) in contesting or attempting to reduce any Taxes assessed for a different calendar year (so
long as such year or portion of such year was within the Term). If the Building is operated as part of a complex of buildings or in conjunction with other buildings, or if the Property is assessed for taxes together with other real property, then
Landlord shall allocate common costs, taxes and other amounts among such buildings and land. 
  

 6 

 (d) Landlord shall, on or before the Commencement Date and as soon as reasonably possible after the
commencement of each calendar year thereafter, provide Tenant with a statement of the estimated monthly installments of Tenant’s Share of Operating Expenses and Taxes which will be due for the remainder of the calendar year in which the
Commencement Date occurs or for the next ensuing calendar year, as the case may be. Landlord shall deliver to Tenant after the close of each calendar year (including the calendar year in which this Lease terminates), a statement
(“Landlord’s Statement”) containing the following: (1) the amount of Operating Expenses for such calendar year; and (2) the amount of Taxes for such calendar year. Upon reasonable prior request given not later than thirty
(30) days following the date Landlord’s Statement is delivered to Tenant, Landlord will provide Tenant detailed documentation to support such Landlord’s Statement or provide Tenant with the opportunity to review such supporting
information. Tenant shall pay to Landlord upon demand all costs incurred by Landlord in connection with any review of Landlord’s books and records made or requested by Tenant. If Tenant does not notify Landlord of any objection to
Landlord’s Statement within ninety (90) days after the later of delivery of Landlord’s Statement or such requested supporting documentation, Tenant shall be deemed to have accepted Landlord’s Statement as true and correct and
shall be deemed to have waived any right to dispute the Operating Expenses and/or Taxes due pursuant to that Landlord’s Statement. If Tenant does so timely and properly object to the subject Landlord’s statement, then a certification as to
the proper amount of the subject Additional Rent shall be made, at Tenant’s expense, by Landlord’s independent certified public accountant, which certification shall be final and conclusive. Tenant acknowledges that Landlord maintains its
records for the Building and the Property at Landlord’s main office, and Tenant agrees that any review of records under this Section shall be at the sole expense of Tenant and shall be conducted by an accountant or other person experienced in
accounting for income and expenses of industrial projects engaged solely by Tenant on terms which do not entail any compensation based or measured in any way upon any savings in Additional Rent or reduction in Operating Expenses achieved through the
inspection process. Tenant acknowledges and agrees that any records reviewed under this Section constitute confidential information of Landlord, which shall not be disclosed to anyone other than the person performing the review, the principals of
Tenant who receive the results of the review, and Tenant’s accounting employees. The disclosure of such information to any other person, whether or not caused by the conduct of Tenant, shall constitute an event of default by Tenant under this
Lease. 
 (i) Tenant shall pay to Landlord, together with its monthly payment of Base Rent as provided in Section 5 above, as
Additional Rent hereunder, the estimated monthly installment of Tenant’s Share of Operating Expenses and Taxes for the calendar year in question. Landlord may from time to time deliver to Tenant a yearly estimate statement (the “Estimated
Operating Expense and Taxes Statement”) which shall set forth Landlord’s reasonable estimate of the Operating Expense and Taxes for the then-current calendar year. Following Tenant’s receipt of an Estimated Operating Expense and Taxes
Statement, Tenant shall pay, with its next installment of Base Rent due, a fraction of the amount of Operating Expenses and Taxes estimated by Landlord and reflected therein, less the aggregate amount paid by Tenant for the same for the subject
calendar year. Such fraction shall have as its numerator the number of months which have elapsed in the then-current calendar year to the month of such payment, both months inclusive, and shall have twelve (12) as its denominator. Until a new
Estimated Operating Expense and Taxes Statement is furnished, Tenant shall pay monthly, with monthly installments of Base Rent, an amount equal to one-twelfth (1/12) of the total Operating Expense 
  

 7 

 and Taxes set forth in the last Estimated Operating Expense and Taxes Statement delivered by Landlord to Tenant. At the
end of any calendar year, if Tenant has paid to Landlord an amount in excess of Tenant’s Share of Operating Expenses and Taxes for such calendar year, Landlord shall reimburse to Tenant any such excess amount (or shall apply any such excess
amount to any amount then owing to Landlord hereunder, and if none, to the next due installment or installments of Additional Rent due hereunder, at the option of Landlord). At the end of any calendar year if Tenant has paid to Landlord less than
Tenant’s Share of Operating Expenses and Taxes for such calendar year, Tenant shall pay to Landlord any such deficiency within thirty (30) days after Tenant receives the annual statement. 
 (ii) For the calendar year in which this Lease terminates and is not extended or renewed, the provisions of this Section shall apply, but Tenant’s
Share for such calendar year shall be subject to a pro rata adjustment based upon the number of days prior to the expiration of the Term of this Lease. Tenant shall make monthly estimated payments of the pro rata portion of Tenant’s Share for
such calendar year (in the manner provided above) and when the actual prorated Tenant’s Share for such calendar year is determined, Landlord shall send Landlord’s Statement to Tenant for such year and if such Statement reveals that
Tenant’s estimated payments for the prorated Tenant’s Share for such calendar year exceeded the actual prorated Tenant’s Share for such calendar year, Landlord shall include a refund for that amount along with the Statement (subject
to offset in the event Tenant is in default hereunder). If Landlord’s Statement reveals that Tenant’s estimated payments for the prorated Tenant’s Share for such calendar year were less than the actual prorated Tenant’s Share for
such calendar year, Tenant shall pay the shortfall to Landlord within thirty (30) days after the date of receipt of Landlord’s Statement. If the Building is operated as part of a complex of buildings or in conjunction with other buildings,
then Landlord shall allocate common costs, taxes and other amounts among such buildings. 
 (e) Tenant shall reimburse Landlord upon demand
for any and all taxes and other charges imposed by Governmental Authorities required to be paid by Landlord when, said taxes or other charges are: (i) measured by or reasonably attributable to the cost or value of equipment, furniture, fixtures
and other personal property located in the Premises, or by the cost or value of any leasehold improvements made in or to the Premises by or for Tenant, regardless of whether title to such improvements shall be vested in Tenant or Landlord;
(ii) assessed upon or with respect to the possession, leasing, operation, management, maintenance, alteration, repair, use or occupancy by Tenant of the Premises or any other portion of the Building and/or the Property; or (iii) assessed
upon this transaction or any document to which Tenant is a party creating or transferring an interest or an estate in the Premises. 
 8.

Late Charge and Interest. Other remedies for non-payment of Rent notwithstanding, if any monthly installment of Base Rent or Additional Rent is not received by Landlord on or before the date due, or if any payment
due Landlord by Tenant which does not have a scheduled due date is not received by Landlord on or before the tenth (10th) day following the date Tenant was invoiced, a late charge of ten percent (10%) of such past due amount shall be immediately due and payable as Additional Rent hereunder, and interest shall accrue on all delinquent amounts
from the date past due until paid at the lower of a rate (the “Interest Rate”) of one and one-half (1.5%) percent per month or fraction thereof from the date such payment is due until paid (annual percentage rate = 18%), or the
highest rate permitted by applicable law. 
  

 8 

 9. 
Partial Payment. No payment by Tenant or acceptance by Landlord of an amount less than the Rent herein stipulated shall be deemed a waiver of any other Rent due. No partial payment or endorsement on any check or any
letter accompanying such payment of Rent shall be deemed an accord and satisfaction, but Landlord may accept such payment without prejudice to Landlord’s right to collect the balance of any Rent due under the terms of this Lease or any late
charge assessed against Tenant hereunder. 
 10. 
Security Deposit. Concurrently with its execution and delivery of this Lease, Tenant shall pay Landlord the amount identified as the Security Deposit in the Basic Lease Provisions (hereinafter referred to as
“Security Deposit”) as evidence of good faith on the part of Tenant in the fulfillment of the terms of this Lease, which shall be held by the Landlord during the Term of this Lease, or any renewal thereof. Under no circumstances will
Tenant be entitled to any interest on the Security Deposit. The Security Deposit may be applied by Landlord, at its sole discretion, to any amount owing to the payment of any Rent or any other sum which Tenant has failed to timely pay in accordance
with the provisions of this Lease, or for the payment of any amount that Landlord may incur by reason of Tenant’s default, or to compensate Landlord for any other loss or damage Landlord may suffer by reason of Tenant’s default. If any
portion of the Security Deposit is so used or applied, Tenant shall, upon demand, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to the amount of the Security Deposit specified in the Basic Lease Provisions as may
be reduced pursuant to the following terms of this Section, and Tenant’s failure to do so shall be an event of default under this Lease. The use or application of the Security Deposit or any portion thereof by Landlord shall not
(i) prevent Landlord from exercising any other right or remedy provided by this Lease, it being intended that Landlord shall not first be required to proceed against the Security Deposit, or (ii) operate as a limitation on any recovery to
which Landlord may otherwise be entitled. If there are no payments to be made from the Security Deposit as set out in this Section, or if there is any balance of the Security Deposit remaining after all payments have been made, the Security Deposit,
or such balance thereof remaining, will be refunded to Tenant within thirty (30) days after fulfillment by Tenant of all obligations hereunder (including payment of the balance of any year-end reconciliation). In no event shall Tenant be
entitled to apply the Security Deposit to any Rent due hereunder. In the event of an act of bankruptcy by or insolvency of Tenant, or the appointment of a receiver for Tenant or a general assignment for the benefit of Tenant’s creditors, then
the Security Deposit shall be deemed immediately assigned to Landlord. The right to retain the Security Deposit shall be in addition and not alternative to Landlord’s other remedies under this Lease or as may be provided by law and shall not be
affected by summary proceedings or other proceedings to recover possession of the Premises. Upon sale or conveyance of the Building, Landlord may transfer or assign the Security Deposit to any new owner of the Premises, and upon such transfer all
liability of Landlord for the Security Deposit shall terminate. Landlord shall be entitled to commingle the Security Deposit with its other funds. 
 Notwithstanding anything herein to the contrary, provided Tenant is not in default under this Lease beyond the expiration of any applicable cure period as of the effective date of the reduction of the Security Deposit or as of the date
Landlord is required to return such portion of the Security Deposit, Tenant shall have the right to reduce the amount of the Security Deposit by *** and *** ($***) effective as of the first day of the thirteenth (13th) full calendar month of
the Term. If Tenant is entitled to a reduction in the Security Deposit, Tenant shall provide Landlord 
  

 9 

 with notice stating that the Security Deposit is required to be reduced as provided above (the “Reduction
Notice”). If Tenant provides Landlord with a Reduction Notice, Landlord shall refund the applicable portion of the Security Deposit to Tenant within thirty (30) days after the later to occur of (A) Landlord’s receipt of the
Reduction Notice, or (B) the date upon which Tenant is entitled to a reduction in the Security Deposit as provided above. 
 11. 
Use of Premises/Environmental Matters. 
 (a) Use. Tenant shall use and occupy the Premises solely
for the purpose set forth in the Basic Lease Provisions and for no other purpose. The Premises shall not be used for any illegal purpose, nor in violation of any valid law, ordinance or regulation of any governmental body, nor in any manner to
create any nuisance or trespass, nor in any manner which will void the insurance or increase the rate of insurance on the Premises, the Building or the Property, nor in any manner inconsistent with the quality of the Building. At its sole expense,
Tenant shall promptly comply with all laws codes, ordinances, regulations and requirements of government and quasi-government authorities concerning the use, occupancy and condition of the Premises and all machinery, equipment, furnishings, fixtures
and improvements therein, excluding, however, matters that are the responsibility of Landlord under Section 19 hereof. If any of the foregoing requires an occupancy, use or other permit or license for the Premises for the operation of the
business conducted therein, then Tenant shall timely obtain and keep current each such permit or license at Tenant’s expense, and Tenant shall promptly deliver a copy thereof to Landlord. Tenant acknowledges that Landlord has made no
representations or warranties with respect to the suitability of the Premises for Tenant’s proposed use. 
 (b) Environmental
Matters. 
 (1) For purposes of this Lease: 
 “Contamination” means the presence of or release, spillage, leakage, migration, disposal, burial, or placement of Hazardous
Substances (as hereinafter defined) upon, within, below, or into any surface water, ground water, land surface, subsurface soil or strata, building, or improvement at any portion of the Premises, the Building or the Property. 
 “Environmental Laws” means all codes, laws (including, without limitation, common law), ordinances, regulations, reporting or
licensing requirements, rules, or statutes relating to pollution or protection of human health or the environment (including ambient air, surface water, ground water, land surface, or subsurface soil or strata), including, without limitation
(i) the Comprehensive Environmental Response Compensation and Liability Act, 42 U.S.C. §§9601 et seq. (“CERCLA”); (ii) the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act, as amended,
42 U.S.C. §§6901 et seq., (“RCRA”); (iii) the Emergency Planning and Community Right to Know Act (42 U.S.C. §§11001 et seq.); (iv) the Clean Air Act (42 U.S.C. §§7401 et seq.) (v) the

  

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 Clean Water Act (33 U.S.C. §§1251 et seq.); (vi) the Toxic Substances Control Act (15
U.S.C. §§2601 et seq.) (vii) the Hazardous Materials Transportation Act (49 U.S.C. §§5101 et seq.) (viii) the Safe Drinking Water Act (41 U.S.C. §§300f et seq.); (ix) any state, county, municipal or local
statutes, laws or ordinances similar or analogous to the federal statutes listed in parts (i) – (viii) of this subsection; (x) any amendments to the statutes, laws or ordinances listed in parts (i) – (ix) of this
subsection, regardless of whether in existence on the date hereof; (xi) any rules, regulations, guidelines, directives, orders or the like adopted pursuant to or implementing the statutes, laws, ordinances and amendments listed in parts
(i) – (x) of this subsection; and (xii) any other law, statute, ordinance, amendment, rule, regulation, guideline, directive, order or the like in effect now or in the future relating to environmental, health or safety matters.

 “Hazardous Substances” means any chemical, waste, by-product, pollutant, contaminant, compound, product,
substance, equipment or fixture defined as or deemed hazardous or toxic or otherwise regulated under any Environmental Law, including, without limitation, (i) RCRA hazardous wastes, (ii) CERCLA hazardous substances, (iii) gasoline,
diesel fuel, fuel oil, motor oil, waste oil, and any other petroleum hydrocarbon, including any additives or other by-products or constituents associated therewith, (iv) pesticides and other agricultural chemicals, (v) asbestos and
asbestos containing materials in any form, (vi) polychlorinated biphenyls, (vii) radioactive materials and radon, and (viii) urea formaldehyde foam insulation. 
 (2) Tenant covenants that all its activities, and the activities of any entity affiliated with Tenant (“Tenant’s Affiliates”), on the
Premises and in the Building and on the Property, during the Term will be conducted in compliance with Environmental Laws. Tenant represents and warrants to Landlord that Tenant is currently in compliance with all applicable Environmental Laws and
that there are no pending or threatened notices of deficiency, notices of violation, orders, or judicial or administrative actions involving alleged violations by Tenant of any Environmental Laws. Tenant, at Tenant’s sole cost and expense,
shall be responsible for obtaining all permits or licenses or approvals under Environmental Laws necessary for Tenant’s operation of its business on the Premises (“Environmental Permits”) and shall make all notifications and
registrations required by any applicable Environmental Laws. Tenant, at Tenant’s sole cost and expense, shall at all times comply with the terms and conditions of all such Environmental Permits notifications and registrations and with any other
applicable Environmental Laws. Tenant represents and warrants that it has obtained all such Environmental Permits and made all such notifications and registrations required by any applicable Environmental Laws necessary for Tenant’s operation
of its business on the Premises. 
 (3) Tenant shall not cause or permit any Hazardous Substances to be brought upon, kept or used in or
about the Premises, on the Building, or the Property without the prior consent of Landlord, which consent shall not be unreasonably withheld; provided, however, that the consent of Landlord shall not be required for the use at the
Premises of cleaning supplies, toner for photocopying machines and other similar materials, in containers 
  

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 and quantities reasonably necessary for and consistent with normal and ordinary use by Tenant in the routine operation or
maintenance of Tenant’s office equipment or in the routine janitorial service, cleaning and maintenance for the Premises. For purposes of the foregoing, Landlord shall be deemed to have reasonably withheld consent if Landlord determines that
the presence of such Hazardous Substance within the Premises could result in a risk of harm to person or property or otherwise negatively affect the value or marketability of the Building or the Property. 
 (4) Regardless of any consents granted by Landlord pursuant to the foregoing allowing Hazardous Substances upon the Premises, Tenant shall under no
circumstances whatsoever cause or permit any Contamination by Tenant or Tenant’s Affiliates. If such Contamination by Tenant shall occur, Tenant shall promptly at its expense (i) contain and control, investigate, and clean up, remove, or
remedy such Contamination to the extent required by, and take any and all other actions required under, applicable Environmental Laws, (ii) restore the Premises, the Building and the Property to the condition existing prior to the
Contamination, and (iii) notify and keep Landlord reasonably informed of such containment, control, investigation, cleanup, removal, remediation and restoration activities. All such activities shall be conducted by Tenant or Tenant’s
Affiliates in accordance with any and all Environmental Laws and other applicable federal, state and local laws and regulations. Landlord shall have the right, but not the obligation, after providing Tenant with notice and a reasonable opportunity
to cure, to enter onto the Premises or to take such other actions as Landlord deems necessary or advisable so to contain, control, investigate, clean up, remove, remediate, restore, resolve or minimize the impact of, or otherwise deal with, any such
contamination. All costs and expenses incurred by Landlord in the exercise of any such rights shall be payable by Tenant upon demand. 
 (5)
Regardless of any consents granted by Landlord pursuant to Subsection 11(b)(3) above allowing Hazardous Substances upon the Premises, Tenant shall under no circumstances whatsoever cause or permit (i) any activity on the Premises which would
cause the Premises to become subject to regulation as a hazardous waste treatment, storage or disposal facility under RCRA or the regulations promulgated thereunder, (ii) any activity on the Premises which would cause the Premises, the
Building, or the Property to become subject to any lien imposed under or as a result of any Environmental Law, (iii) the discharge of Hazardous Substances into the storm sewer system serving the Property, or (iv) the installation of any
underground tank, oil/water separator, sump pump, or underground piping on, under or about the Premises, the Building or the Property. 
 (6) Landlord shall also have the right prior to the expiration of the Term of this Lease to require Tenant to cause a qualified environmental consultant to perform, at Tenant’s sole cost and expense, an environmental audit of the
Premises satisfactory to Landlord in its reasonable discretion, but only if Landlord has a reasonable basis for believing that Tenant has violated this Section 11. Should Tenant fail to undertake and seek diligently to perform said
environmental audit within thirty (30) days of the Landlord’s request, Landlord shall have the right, but not the obligation, to retain a qualified environmental consultant to perform such environmental audit. All costs and expenses
incurred by Landlord in the exercise of such rights shall be payable by Tenant upon demand. 
 (7) Tenant shall and hereby does indemnify,
defend, protect and hold harmless Landlord from and against any and all expense, loss, and liability suffered by 
  

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 Landlord by reason of the storage, generation, release, spillage, leakage, burial, placement, handling, treatment,
transportation, disposal, or arrangement for transportation or disposal, of any Hazardous Substances (whether accidental, intentional, or negligent) by Tenant or Tenant’s Affiliates or by reason of Tenant’s breach of any of the provisions
of this Section 11(b). Such expenses, losses and liabilities shall include, without limitation, any and all expenses that Landlord may incur (i) to comply with any Environmental Laws, (ii) in studying, removing, disposing or otherwise
addressing any Hazardous Substances and contamination at, on, under, or from the Premises, the Building, or the Property, (iii) with respect to fines, penalties or other sanctions assessed upon Landlord, and (iv) with respect to legal and
professional fees and costs incurred by Landlord in connection with the foregoing. The indemnity contained herein shall survive the expiration or earlier termination of this Lease. 
 12. 
Waste Disposal. 
 (a) Tenant shall be responsible for the removal of all normal trash and waste (i.e.,
waste that does not require special handling pursuant to Section 12(b) below) generated at the Premises. All such trash and waste shall be deposited in dumpsters placed by Tenant adjacent to the Premises in locations approved by Landlord.

 (b) Tenant shall be responsible for the removal and disposal of any waste produced or located in the Premises which is deemed by any
governmental authority having jurisdiction over the matter to be hazardous or infectious waste or waste requiring special handling, such removal and disposal to be in accordance with any and all applicable governmental rules, regulations, codes,
orders or requirements. Tenant agrees to separate and mark appropriately all such waste to be removed and disposed of in dumpsters pursuant to Section 12(a) above and hazardous, infectious or special waste to be removed and disposed of by
Tenant pursuant to this Section 12(b). Tenant hereby agrees to indemnify, protect, defend and hold harmless Landlord from and against any loss, claims, demands, damage or injury Landlord may suffer or sustain as a result of Tenant’s
failure to comply with the provisions of this Section 12(b). 
 13. 
Entering Premises. Landlord may enter the Premises at reasonable times: (a) to make repairs, perform maintenance and provide other services described in Section 19 below which Landlord is obligated to
make to the Premises or the Building pursuant to the terms of this Lease or to the other premises within the Building pursuant to the leases of other tenants; (b) to inspect the Premises in order to confirm that Tenant is complying with all of
the terms and conditions of this Lease and with the rules and regulations hereof; (c) show the Premises to actual or prospective Holders of Security Documents, purchasers or tenants; (d) to run pipes, conduits, ducts, wiring, cabling or
any other mechanical, electrical, plumbing or equipment through the Premises and elsewhere in the Building; and (e) to exercise any other right or perform any other obligation that Landlord has under this Lease. Notwithstanding anything to the
contrary contained in this Lease, Landlord may enter the Premises at any time: (i) in the circumstance of an emergency; (ii) to take possession of the Premises following the occurrence of an event of default; and (iii) to perform any
term of this Lease to be observed or performed by Tenant and which Tenant fails to timely observe or perform. Landlord shall be allowed to take all material into and upon the Premises that may be required to make any repairs, improvements and
additions, or any alterations, without in any way being deemed or held guilty of trespass and 
  

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 without constituting a constructive eviction of Tenant. The Rent reserved herein shall not abate while such repairs,
alterations or additions are being made and Tenant shall not be entitled to maintain a set-off or counterclaim for damages against Landlord by reason of loss from interruption to the business of Tenant because of the prosecution of any such work.
Unless any work would unreasonably interfere with Tenant’s use of the Premises if performed during business hours, all such repairs, decorations, additions and improvements shall be done during ordinary business hours, or, if any such work is
at the request of Tenant to be done during any other hours, the Tenant shall pay all overtime and other extra costs. 
 14. 
Rules and Regulations. The rules and regulations in regard to the Building and the Property, a copy of which is attached hereto as Exhibit D, and all reasonable rules and regulations and modifications thereto which
Landlord may hereafter from time to time adopt after notice thereof to Tenant, for the management of the Building and the Property, are hereby made a part of this Lease. Tenant shall comply with, and shall cause its agents, employees and permitted
occupants of the Premises to comply with, such rules and regulations. Nothing contained in this Lease shall be construed as imposing upon Landlord any duty to enforce such rules or regulations against any other tenant or occupant of the Building.
Landlord shall not be liable to Tenant for the violation of such rules or regulations by any other tenant or occupant or their respective employees, agents, assignees, subtenants, licensees or invitees. 
 15. 
Utilities. Tenant will promptly pay, directly to the appropriate supplier, the cost of all natural gas, heat, cooling, energy, light, power, sewer service, telephone, water, refuse disposal and other utilities and
services supplied to the Premises, together with any related installation or connection charges or deposits (collectively, “Utility Costs”) incurred during the Term. If any services or utilities are jointly metered with other premises,
Landlord will make a reasonable determination of Tenant’s proportionate share of such Utility Costs and Tenant will pay such share to Landlord. Landlord reserves the right to participate in wholesale energy purchase programs and to provide
energy to the Premises through such programs so long as the cost to Tenant is competitive. 
 16. 
Signs. Tenant shall not paint or place any signs, placards, or other advertisements of any character upon the outside walls, common areas or the roof of the Building (except with the prior consent of Landlord,
which consent may be withheld by Landlord in its sole discretion). Notwithstanding the foregoing, Tenant shall have the right, subject to Landlord’s consent, which consent shall not be unreasonably withheld, and subject to the following terms
of this Section, to install, one (1) sign on the exterior of the Building above the main entrance to the Premises. Such sign shall comply with all applicable laws, rules and regulations. Any sign which Tenant is permitted to install outside the
Premises shall be installed by Tenant at its cost. Each such sign permitted to be installed by Tenant shall be constructed and/or installed by Tenant at sole cost: (1) in accordance with the terms of Section 21 below and such other
requirements as Landlord may impose; (2) in first class condition and in accordance with all applicable laws, ordinances, rules and regulations of governmental authorities having jurisdiction; (3) in accordance with plans for the same
approved by Landlord as to location, size, design and all other aspects; and (4) only after obtaining all required permits, approvals and consents from governmental authorities having jurisdiction. During the term, Tenant shall, at sole
expense, maintain and repair each such sign in first class condition. Upon the expiration of the Term or earlier termination of this Lease, Tenant shall, at its sole expense, remove each such sign and restore the affected portion of 
  

 14 

 the Building and/or Property to the condition that existed prior to the installation of the same. Landlord shall, at its
sole cost, place the name or corporate logo of the original Tenant named in this Lease on the monument sign serving the Building in addition to the names of other tenants of the Building and the adjacent building who may be listed on such monument
sign. 
 17. 
Assignment and Subletting. 
 (a) Tenant may not, without the prior consent of Landlord, which consent may
be withheld by Landlord in its sole discretion (except to the extent expressly required otherwise by applicable law), (i) assign this Lease or any interest hereunder, (ii) sublet the Premises or any part thereof, (iii) permit the use
of the Premises by any party other than Tenant, or (iv) mortgage, pledge, hypothecate, encumber or otherwise transfer any interest of Tenant in this Lease. In the event that Tenant is a corporation or entity other than an individual, any direct
or indirect transfer of a majority or controlling interest in Tenant (whether by stock transfer, membership or partnership interest transfer, merger, operation of law or otherwise) shall be considered an assignment for purposes of this
Section 17 and shall require Landlord’s prior consent. Consent to one assignment or sublease shall not destroy or waive this provision, and all later assignments and subleases shall likewise be made only upon the prior consent of Landlord.
Subtenants or assignees shall become liable to Landlord for all obligations of Tenant hereunder, without relieving Tenant’s liability hereunder and, in the event of any default by Tenant under this Lease, Landlord may, at its option, but
without any obligation to do so, elect to treat such sublease or assignment as a direct lease with Landlord and collect rent directly from the subtenant. Notwithstanding the foregoing, Landlord shall not unreasonably withhold its consent to any
proposed assignment of Tenant’s interests under this Lease or a sublease of all or any portion of the Premises. Landlord and Tenant hereby agree that it would be reasonable under this Lease or under any applicable law for Landlord to withhold
consent to any proposed assignment of Tenant’s interests under this Lease or a sublease of all or any portion of the Premises when one or more of the following apply, without limitation as to other reasonable grounds for withholding consent:
(i) the proposed assignee or subtenant is either a governmental agency or instrumentality thereof; or (ii) the proposed assignee or subtenant is not a party of reasonable financial worth and/or financial stability in light of the
responsibilities involved under the Lease or the subject sublease on the date consent is requested. 
 (b) Upon any request by Tenant for
Landlord’s consent to an assignment or sublease, Landlord may elect to terminate this Lease and recapture all of the Premises (in the event of an assignment request) or the applicable portion of the Premises (in the event of a subleasing
request); provided, however, if Landlord notifies Tenant that Landlord elects to exercise this recapture right, Tenant may, within five (5) business days of its receipt of Landlord’s recapture notice, notify Landlord that Tenant withdraws
its request to sublease or assign, in which case Tenant shall continue to lease all of the Premises, subject to the terms of this Lease and Landlord’s recapture notice shall be null and void. 
 (c) If Tenant desires to assign or sublease, Tenant shall provide notice to Landlord describing the proposed transaction in detail and providing all
documentation (including detailed financial information for the proposed assignee or subtenant) reasonably 
  

 15 

 necessary to permit Landlord to evaluate the proposed transaction. Landlord shall notify Tenant within twenty
(20) days of Landlord’s receipt of such notice and documentation whether Landlord elects to exercise Landlord’s recapture right and, if not, whether Landlord consents to the requested assignment or sublease. If Landlord fails to
respond within such twenty (20) day period, Landlord will be deemed not to have elected to recapture and not to have consented to the assignment or sublease. If Landlord does consent to any assignment or sublease request and the assignee or
subtenant pays to Tenant an amount in excess of the Rent due under this Lease (after deducting Tenant’s reasonable, actual expenses in obtaining such assignment or sublease, amortized in equal monthly installments over the then remainder of the
Term), Tenant shall pay 100% of such excess to Landlord as and when the subject payments are received by Tenant. 
 (d) Notwithstanding
anything to the contrary set forth in this Lease, in no event shall Tenant (i) enter into any assignment, sublease or other arrangement such that the amounts to be paid by the other party thereunder would be based, in whole or in part, on the
income or profits derived by the business activities of such party; (ii) engage in an assignment, sublease or other arrangement with any person in which Landlord owns an interest, directly or indirectly, by applying constructive ownership rules
set forth in Section 856(d)(5) of the Internal Revenue Code of 1986, as amended and as may be further amended (the “Code”); or (iii) engage in an assignment, sublease or other arrangement in any other manner which could cause any
portion of the amounts received by Landlord pursuant to this Lease or any assignment, sublease or other arrangement to fail to qualify as “rents from real property” within the meaning of Section 856(d)(5) of the Code or which could
cause any other income received by Landlord to fail to qualify as income described in Section 856(c)(2) of the Code. 
 (e) Any
assignment, sublease or other arrangement made without Landlord’s prior consent shall, at Landlord’s option, be void and of no effect, and shall constitute an event of default by Tenant under this Lease. Whether or not Landlord shall grant
consent to a assignment, sublease or other arrangement, Tenant shall pay to Landlord upon demand, Landlord’s review and processing fees and all costs incurred by Landlord in connection with the same. In the event Landlord disapproves of an
assignment, sublease or other arrangement or Landlord exercises its right recapture the subject space, Tenant shall indemnify, protect, defend (with counsel approved by Landlord) and hold harmless Landlord from and against any and all claims,
judgments, awards, amounts paid in settlements, penalties, fines, damages, liabilities, losses, suits, proceedings and costs (including, without limitation, attorneys’ fees) of any kind or nature, known or unknown, contingent or otherwise,
suffered or incurred, whether before, during or after the Term, arising from or related to any claims made against Landlord by the proposed transferee or by any brokers or other persons claiming a commission or similar compensation in connection
with the proposed assignment, sublease or other arrangement. Any subletting or assignment hereunder shall not release or discharge Tenant of or from any liability, whether past, present or future, under this Lease, and Tenant shall remain fully
liable thereunder. Any subtenant or subtenants or assignee shall agree in a form reasonably satisfactory to Landlord to comply with and be bound by all of the terms, covenants, conditions, provisions and agreements of this Lease to the extent of the
space sublet or assigned, and Tenant shall deliver to Landlord promptly after execution, an executed copy of each such sublease or assignment and an agreement of compliance by each such subtenant or assignee. Tenant hereby assigns to Landlord any
rent due from each subtenant as security for the performance of Tenant’s obligations under this Lease. Tenant authorizes each subtenant to pay such rent directly to Landlord if it receives notice from Landlord specifying that such rent shall be
paid directly to Landlord. 
  

 16 

 18. 
Mortgagee’s Rights. 
 (a) Tenant agrees that this Lease shall be subject and subordinate to
(i) any mortgage, deed of trust or other security interest now encumbering the Building and/or the Property and to all advances which may be hereafter made, to the full extent of all debts and charges secured thereby and to all renewals or
extensions of any part thereof, and to any mortgage, deed of trust or other security interest which any owner of the Building and/or the Property may hereafter, at any time, elect to place on the Building and/or the Property; (ii) any
assignment of Landlord’s interest in the leases and rents from the Building and/or Property which includes the Lease which now exists or which any owner of the Building and/or Property may hereafter, at any time, elect to place on the Building
and/or Property; and (iii) any Uniform Commercial Code Financing Statement covering the personal property rights of Landlord or any owner of the Building and/or Property which now exists or any owner of the Building and/or Property may
hereafter, at any time, elect to place on the foregoing personal property (all of the foregoing instruments set forth in (i), (ii) and (iii) above being hereafter collectively referred to as “Security Documents”). Tenant
agrees upon request of the holder of any Security Documents (“Holder”) to hereafter execute any documents which the counsel for Landlord or Holder may reasonably deem necessary to evidence the subordination of the Lease to the
Security Documents. Within ten (10) days after request therefor, if Tenant fails to execute any such requested documents, Landlord or Holder is hereby empowered to execute such documents in the name of Tenant evidencing such subordination, as
the act and deed of Tenant, and this authority is hereby declared to be coupled with an interest and not revocable. If any actual or prospective Holder requires that modifications to this Lease be obtained, and provided such modifications
(a) are reasonable, (b) do not adversely affect Tenant’s use of the Premises as herein permitted, (c) do not increase the Rent to be paid Tenant hereunder or Tenant’s obligations hereunder, then Landlord may submit to Tenant
an amendment to this Lease incorporating such required modifications, and Tenant shall execute, acknowledge and deliver the same to Landlord within ten (10) days after Tenant’s receipt thereof. Concurrently with its execution and delivery
of this Lease, Tenant shall execute and deliver to Landlord the Non-Disturbance, Attornment, Estoppel and Subordination Agreement attached to this Lease as Exhibit E and made a part hereof. 
 (b) In the event of a foreclosure pursuant to any Security Document, Tenant shall, at the election of the Landlord, thereafter remain bound pursuant to
the terms of this Lease as if a new and identical Lease between the purchaser at such foreclosure (“Purchaser”), as landlord, and Tenant, as tenant, had been entered into for the remainder of the Term hereof and Tenant shall attorn
to the Purchaser upon such foreclosure sale and shall recognize such Purchaser as the Landlord under the Lease. Such attornment shall be effective and self-operative without the execution of any further instrument on the part of any of the parties
hereto. Tenant agrees, however, to execute and deliver at any time and from time to time, upon the request of Landlord or of Holder, any instrument or certificate that may be necessary or appropriate in any such foreclosure proceeding or otherwise
to evidence such attornment. 
 (c) If the Holder of any Security Document or the Purchaser upon the foreclosure of any of the Security
Documents shall succeed to the interest of Landlord under the 
  

 17 

 Lease, such Holder or Purchaser shall have the same remedies, by entry, action or otherwise for the non-performance of
any agreement contained in the Lease, for the recovery of Rent or for any other default or event of default hereunder that Landlord had or would have had if any such Holder or Purchaser had not succeeded to the interest of Landlord. Any such Holder
or Purchaser which succeeds to the interest of Landlord hereunder, shall not be (a) liable for any act or omission of any prior Landlord (including Landlord) unless such act or omission is of a continuing nature; or (b) subject to any
offsets or defenses which Tenant might have against any prior Landlord (including Landlord); or (c) bound by any Rent which Tenant might have paid for more than the current month to any prior Landlord (including Landlord); or (d) bound by
any amendment or modification of the Lease made without its consent. 
 (d) Notwithstanding anything to the contrary set forth in this
Section 18, the Holder of any Security Documents shall have the right, at any time, to elect to make this Lease superior and prior to its Security Document. No documentation, other than notice to Tenant, shall be required to evidence that the
Lease has been made superior and prior to such Security Documents, but Tenant hereby agrees to execute any documents reasonably requested by Landlord or Holder to acknowledge that the Lease has been made superior and prior to the Security Documents.

 19. 
Repairs By Landlord. Tenant, by taking possession of the Premises, shall accept and shall be held to have accepted the Premises as suitable for the use intended by this Lease. In no event shall Tenant be entitled
to compensation or any other damages or any other remedy against Landlord in the event the Premises are not deemed suitable for Tenant’s use. Landlord shall not be required to make any repairs or improvements to the Premises, except as set
forth in this Lease. Except for damage caused by casualty and condemnation (which shall be governed by Section 23 and 24 below), and subject to normal wear and tear, Landlord shall maintain in good repair the exterior walls, roof, common areas,
foundation, structural portions and the Building’s mechanical, electrical and plumbing systems, provided such repairs are not necessitated or occasioned by Tenant, Tenant’s invitees or anyone in the employ or control of Tenant. 

20. 
Repairs By Tenant. Except as described in Section 19 above, Tenant shall, at its own cost and expense, maintain the Premises in good repair and in a neat and clean, first-class condition, including making all
necessary repairs and replacements. Tenant shall also be responsible, at its sole cost and expense, for maintenance and repair of all improvements, fixtures, systems and equipment installed outside the Premises for the exclusive use or benefit of
Tenant or the Premises (including, without limitation, any supplemental HVAC, electrical, life-safety, fire protection or other systems or equipment installed by or on behalf of Tenant), and Landlord shall have no obligation to maintain or repair
any of the same under any circumstances. Landlord may, but Tenant shall further, at its own cost and expense, repair or restore any damage or injury to all or any part of the Premises or Building or Property caused by Tenant or Tenant’s agents,
employees, invitees, licensees, visitors or contractors, including but not limited to any repairs or replacements necessitated by (i) the construction or installation of improvements to the Premises by or on behalf of Tenant, and (ii) the
moving of any property into or out of the Premises. If Tenant fails to make such repairs or replacements promptly, Landlord may, at its option, upon prior reasonable notice to Tenant (except in an emergency) make the required repairs and
replacements and the costs of such repair or replacements shall be charged to Tenant 
  

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 as Additional Rent and shall become due and payable by Tenant with the monthly installment of Base Rent next due
hereunder. Tenant shall, at its own cost and expense, enter into a regularly scheduled preventive maintenance/service contract with a maintenance contractor for servicing all hot water, heating and air conditioning systems and equipment serving the
Premises. The maintenance contractor and the contract must be approved in writing by Landlord in advance. The service contract shall include all services recommended by the equipment manufacturer within the operation/maintenance manual and shall
become effective (and a copy thereof delivered to Landlord) within thirty (30) days following the date Tenant takes possession of the Premises. 
 21. 
Alterations and Improvements. Except for minor, decorative alterations, mobile partitions, racking and shelving which do not affect the Building structure or systems, are not visible from outside the Premises and
do not cost in excess of $50,000.00 in the aggregate, Tenant shall not make or allow to be made any alterations, physical additions (including cables) or improvements in or to the Premises without first obtaining in writing Landlord’s consent
for such alterations or additions, which consent may be granted or withheld in Landlord’s sole discretion if the alterations will affect the Building structure or systems or will be visible from outside the Premises, but which consent shall not
be unreasonably withheld if the alterations will not affect the Building structure or systems and will not be visible from outside the Premises. Upon Landlord’s request, Tenant shall deliver to Landlord plans and specifications for any proposed
alterations, additions or improvements and shall reimburse Landlord for Landlord’s reasonable cost to review such plans upon demand. Any alterations, physical additions or improvements shall at once become the property of Landlord; provided,
however, that Landlord, at its option, may require Tenant to remove any alterations, additions or improvements in order to restore the Premises to the condition existing prior to the installation of the same. In all circumstances Tenant shall
remove, by the date Landlord is entitled to possession of the Premises, all cable installed in the Premises by or on behalf of Tenant. All costs of any such alterations, additions or improvements shall be borne by Tenant. All alterations, additions
or improvements shall be made (i) in a good, workmanlike, first-class and prompt manner; (ii) using only new materials approved by Landlord; (iii) by an experienced, reputable contractors and subcontractors approved by Landlord;
(iv) in accordance with plans and specifications prepared by an architect and engineer acceptable to Landlord, which plans and specifications are approved by Landlord; (v) in accordance with all applicable laws; (vi) in a manner that
does not disturb the business operations of any other occupant of the Building; (vii) after Tenant has obtained public liability, worker’s compensation, Builder’s All-Risk, Completed Operations Coverage, and such other insurance
policies required by Landlord, all in forms, amounts and issued by companies approved by Landlord, which policies shall cover every person who will perform work with respect to the alterations, additions or improvements; and (viii) after Tenant
has obtained and delivered to Landlord unconditional waivers, in form satisfactory to Landlord, of mechanics’ and materialmen’s liens against the Premises, the Building and the Property from all proposed contractors, subcontractors,
laborers and material suppliers for the alterations, additions or improvements. If Tenant fails to comply with the terms of this Section in connection with alterations, additions or improvements, Landlord may cause the cessation of construction or
installation of the same until such time as Tenant complies with the terms of this Section. Further, in the event the subject matter of non-compliance may affect any structural component of the Building, any Building system or the exterior
appearance of the Premises or the Building, then Landlord may take such action as Landlord may elect to address the subject matter without 
  

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 incurring any liability on Landlord’s part, and Tenant shall pay to Landlord upon demand all costs incurred by
Landlord in connection therewith. If any alterations, additions or improvements are made without Landlord’s prior consent, Landlord shall have the right to remove and correct the same and restore the Premises and the Building to their condition
immediately prior thereto or to require Tenant to do the same, and Tenant shall pay to Landlord upon demand all costs incurred by Landlord in connection therewith. Upon completion of any alterations, additions or improvements, Tenant shall, at its
expense, deliver to Landlord: (1) two sets of mylar reproducible “as-built” drawings and a CAD disk for the same; (2) certifications executed by Tenant’s architects, engineers and contractors for the same which
certifications shall certify that the “record-set” of as-built drawings for such alterations, additions or improvements are true and correct; (3) copies of all permits, other approvals of governmental authorities, warranties,
guaranties and operating manuals relating to the alterations, additions or improvements; and (4) full and final waivers of all liens for labor, services or materials for the alterations, additions or improvements, in form reasonably
satisfactory to Landlord. Tenant does hereby agree to indemnify, protect, defend and hold harmless Landlord from and against all claims for damages or death of persons or damage or destruction of property arising out of the performance of any such
alterations, additions or improvements made by or on behalf of Tenant. Under no circumstances shall Landlord be required to pay, during the Term of this Lease and any extensions or renewals hereof, any ad valorem or property tax on such alterations,
additions or improvements, Tenant hereby covenanting to pay all such taxes when they become due. In the event any alterations, additions, improvements or repairs are to be performed by contractors or workmen other than Landlord’s contractors or
workmen, any such contractors or workmen must first be approved, by Landlord (which approval shall not be unreasonably withheld). 
 22.

Liens. Tenant shall have no authority, express or implied, to create or place any lien or encumbrance of any kind or nature whatsoever upon, or in any manner to bind, the interest of Landlord or Tenant in the
Premises, the Building or the Property, or to charge the Rent payable hereunder for any claim in favor of any person dealing with Tenant, including those who may furnish materials or perform labor for any construction repairs. Tenant shall pay or
cause to be paid all sums due and payable by it on account of any labor performed or materials furnished in connection with any work performed by Tenant. Tenant shall discharge of record by payment, bonding or otherwise any lien filed against the
Premises, the Building or the Property on account of any labor performed or materials furnished in connection with any work performed by or on behalf of Tenant immediately upon the filing of any claim of lien. Tenant shall indemnify, protect, defend
and hold harmless Landlord from and against any and all liability, loss, cost or expense based on or arising out of asserted claims or liens against the leasehold estate or against the right, title and interest of Landlord in the Premises, the
Building or the Property or this Lease arising from the act or agreement of Tenant. Tenant agrees to give Landlord immediate notice of the placing of any lien or encumbrance against the Premises, the Building or the Property on account of any labor
performed or materials furnished in connection with any work performed by or on behalf of Tenant or any petition filed to establish the same. Landlord shall have the right, at Landlord’s option, of paying and discharging and dismissing the same
or any portion thereof without inquiry as to the validity thereof, and any amounts so paid, including expenses and applicable late charge, shall be Additional Rent immediately due and payable by Tenant upon rendition of a bill therefor. 

 

 20 

 23. 
Destruction or Damage. 
 (a) If the Building or the Premises are totally destroyed by storm, fire,
earthquake, or other casualty, or damaged to the extent that, in Landlord’s reasonable opinion, the damage cannot be restored within one hundred eighty (180) days of the date Landlord provides Tenant notice of Landlord’s reasonable
estimate of the time necessary to restore the damage, or the cost to repair the subject damage exceeds twenty-five percent (25%) of the replacement value of the Building, or if the damage is not covered by standard “all risks”
property insurance, or if the Landlord’s lender requires that the insurance proceeds be applied to its loan, then Landlord shall have the right to terminate this Lease effective as of the date of such destruction or damage by notice delivered
to Tenant on or before thirty (30) days following Landlord’s notice described above and Rent shall be accounted for as between Landlord and Tenant as of that date. 
 (b) If the Premises are damaged by any such casualty or casualties but Landlord is not entitled to or does not terminate this Lease as provided in
Section 23(a) above, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing no later than sixty (60) days after the date of such damage that such damage will be restored (and will include Landlord’s
good faith estimate of the date the restoration will be complete), in which case Rent shall abate as to any portion of the Premises which is not usable for the period of such untenantability, and Landlord shall promptly commence to diligently
restore the Premises to substantially the same condition as before such damage occurred as soon as practicable. 
 (c) If such substantial
damage occurs within the last twelve (12) months of the Term, either party shall have the right, upon delivery of notice to the other party within thirty (30) days following such damage, to cancel and terminate this Lease as of the date of
such damage, provided, however, that Tenant may not elect to terminate this Lease if such damage was caused by the intentional act of Tenant, its agents, servants, employees or invitees. 
 (d) Tenant agrees that Landlord’s obligation to restore, and the abatement of Rent provided herein, or Tenant’s right to terminate as above set
forth in this Section 23, shall be Tenant’s sole recourse in the event of such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises, the Building or
Property. Notwithstanding anything to the contrary set forth in this Lease, Landlord shall have no obligation to repair damage to any alterations, improvements, or additions performed by Tenant. 
 (e) The provisions of this Lease, including this Section 23, constitute an express agreement between Landlord and Tenant with respect to any and all
damage to, or destruction of, all or any part of the Premises, the Building or the Property, and any law with respect to any rights or obligations concerning damage or destruction, now or hereafter in effect, shall have no application to this Lease
or any damage or destruction to all or any part of the Premises, the Building or the Property. 
 24. 
Eminent Domain. If the whole of the Premises, the Building or the Property, or such portion thereof as will make the Building or Premises unusable in the reasonable judgment of Landlord for their intended purposes,
is condemned or taken by any legally constituted 
  

 21 

 authority for any public use or purpose or if Landlord shall grant a deed or other instrument in lieu of such taking by
power of eminent domain or condemnation, then this Lease shall terminate and the Term hereby granted shall cease from that time when possession thereof is taken by the condemning authorities, and Rent shall be accounted for as between Landlord and
Tenant as of such date. If a portion of the Building or Premises is so taken, but not such amount as will make the Premises unusable in the reasonable judgment of Landlord for the purposes herein leased, or if this Lease has not terminated, this
Lease shall continue in full force and effect and the Rent shall be reduced pro rata in proportion to the amount of the Premises so taken. Tenant shall have no right or claim to any part of any award made to or received by Landlord for such
condemnation or taking, and all awards for such condemnation or taking shall be made solely to Landlord; provided, however, that Tenant shall have the right to pursue any separate award for loss of its equipment and trade fixtures and for moving
expenses so long as such action does not reduce the award to which Landlord is entitled. 
 25. 
Damage or Theft of Personal Property. All personal property brought into the Premises, the Building or the Property shall be at the risk of the Tenant only and Landlord shall not be liable for theft thereof or any
damage thereto occasioned by any acts of co-tenants, or other occupants of the Building, or any other person. 
 26. 
Insurance; Waivers. 
 (a) Tenant covenants and agrees that from and after the date of delivery of the
Premises from Landlord to Tenant, Tenant will carry and maintain, at its sole cost and expense, the following types of insurance, in the amounts specified and in the form hereinafter provided for: 
 (i) Commercial General Liability (“CGL”) Insurance written on an occurrence basis, covering the Premises and all operations of the Tenant in
or about the Premises, the Building and the Property, against claims for bodily injury, property damage and product liability and to include contractual liability coverage insuring Tenant’s indemnification obligations under this Lease, to be in
combined single limits of not less than $1,000,000 each occurrence for bodily injury and property damage, $1,000,000 for products/completed operations aggregate, $1,000,000 for personal injury, and to have general aggregate limits of not less than
$2,000,000 (per location) and Umbrella Liability Insurance in an amount not less than $5,000,000 for each policy year. The general aggregate limits under the Commercial General Liability insurance policy or policies shall apply separately to the
Premises and to Tenant’s use thereof (and not to any other location or use of Tenant) and such policy shall contain an endorsement to that effect. The certificate of insurance evidencing the CGL form of policy shall specify all endorsements
required herein and shall specify on the face thereof that the limits of such policy apply separately to the Premises. 
 (ii) Insurance
covering all of the items included in Tenant’s leasehold improvements, heating, ventilating and air conditioning equipment serving the Premises, trade fixtures, merchandise and personal property from time to time in, on or upon the Premises,
and alterations, additions or changes made by Tenant, in an amount not less than one hundred percent (100%) of their full replacement value from time to time during the Term, providing protection against perils included within the standard form
of “all-risks” fire and casualty insurance policy. 
  

 22 

 Any policy proceeds from such insurance shall be held in trust by Tenant’s insurance company for the repair,
construction and restoration or replacement of the property damaged or destroyed unless this Lease shall cease and terminate under the provisions of Section 23 of this Lease, in which event the same shall be promptly delivered to and retained
by Landlord. 
 (iii) Workers’ Compensation and Employer’s Liability insurance affording statutory coverage and containing
statutory limits with the Employer’s Liability portion thereof to have minimum limits of $500,000.00. 
 (iv) [Intentionally Omitted].

 (v) Such other types of insurance coverage in such amounts as may hereafter be reasonably required by Landlord. 
 (b) The minimum coverages specified in Section 26(a) above shall be increased upon Landlord’s direction from time to time if Landlord
reasonably determines that landlords of comparable buildings in the vicinity of the Building are generally requiring tenants leasing space comparable in size to the Premises and in such comparable buildings to maintain higher levels of coverage. All
policies of the insurance provided for in Section 26(a) above shall be issued in form acceptable to Landlord by insurance companies with a rating and financial size of not less than A-VIII in the most current available “Best’s
Insurance Reports”, and licensed to do business in the state in which the Building is located. Each and every such policy shall: 
 (i)
name Landlord as an additional insured (as well as any mortgagee of Landlord and any other party reasonably designated by Landlord), except with respect to the insurance described in Section 26(a)(iii) above; 
 (ii) be delivered to each of Landlord and any such other parties in interest within thirty (30) days after delivery of possession of the Premises
to Tenant and thereafter at least thirty (30) days prior to the inception (or renewal) of each new policy, and as often as any such policy shall expire or terminate. Renewal or additional policies shall be procured and maintained by Tenant in
like manner and to like extent. A certificate thereof shall be delivered to Landlord at or prior to the execution of the Lease; 
 (iii)
contain a provision that the insurer will give to Landlord and such other parties in interest at least thirty (30) days notice in writing (and ten days in the case of non-payment) in advance of any material change, cancellation, termination or
lapse, or the effective date of any reduction in the amounts of insurance; 
 (iv) be written as a primary policy which does not contribute
to and is not in excess of coverage which Landlord may carry; and 
 (v) contain a cross-liability endorsement or severability of interest
clause acceptable to Landlord; 
 (vi) provide that an act or omission of one of the insureds or additional insureds thereunder which would
void or otherwise reduce coverage, shall not void or reduce coverage as to the other insureds or additional insureds; 
  

 23 

 (vii) provide that the insurer thereunder waives any right of recovery by way of subrogation against
Landlord and the other additional insureds in connection with any loss or damage covered by such insurance policy, Tenant hereby waiving its right of action and recovery against and releasing Landlord and the other additional insureds from and
against any and all liabilities, damages, losses, claims and expenses for which they may be liable to the extent Tenant is covered by insurance carried or required to be carried by Tenant under this Lease; 
 (viii) not contain any deductible provision except as approved by Landlord, which approval shall not be unreasonably withheld; 
 (ix) initially be for a term of one (1) year and shall contain an endorsement prohibiting cancellation, modification or reduction of coverage
without first giving Landlord and each Mortgagee at least thirty (30) days prior notice of such proposed action; and 
 (x) be in form
and content acceptable to Landlord. 
 Promptly following its receipt of the same, Tenant shall deliver certificates of all such insurance coverages and
receipts evidencing payment therefor (and, upon request, copies of all required insurance policies, including endorsements and declarations) to Landlord. If Tenant fails to obtain or maintain any insurance coverage required to be carried by Tenant
pursuant to this Lease or Tenant fails to pay premiums for the same when due, Landlord may obtain such insurance coverage or pay such premiums and Tenant shall pay to Landlord upon demand all costs incurred and amounts paid by Landlord in connection
therewith. Tenant shall not carry separate insurance concurrent in form or contributing in the event of loss with any insurance required to be carried by Tenant pursuant to this Lease. Tenant shall not violate or permit to be violated any of the
conditions or provisions of any of the insurance policies required to be carried by Tenant pursuant to this Lease, and Tenant shall perform and satisfy the requirements of the insurance companies issuing all such policies. 
 (c) Any insurance provided for in Section 26(a) may be maintained by means of a policy or policies of blanket insurance, covering additional items
or locations or insureds, provided, however, that: 
 (d) Landlord and any other parties in interest from time to time reasonably designated
by Landlord to Tenant shall be named as an additional insured thereunder as its interest may appear; 
 (i) the coverage afforded Landlord
and any such other parties in interest will not be reduced or diminished by reason of the use of such blanket policy of insurance; and 
 (ii) the requirements set forth in this Section 26 are otherwise satisfied. 
 (iii) During the Term hereof, Landlord shall in
a manner comparable to other comparable industrial buildings in the market where the Building is located keep in effect commercial property insurance on the Building. 
  

 24 

 (e) Notwithstanding anything to the contrary set forth hereinabove, Landlord and Tenant do hereby waive
any and all claims against one another for damage to or destruction of real or personal property to the extent such damage or destruction can be covered by “all risks” property insurance of the type described in Section 26(a)(ii) and
Section 26(d)(i) above. These waivers shall apply if the damage would have been covered by a customary “all risks” insurance policy, even if the party fails to obtain such coverage. The intent of this provision is that each party
shall look solely to its insurance with respect to property damage or destruction which can be covered by “all risks” insurance of the type described in Section 26(a)(ii) and Section 26(d)(i). Each such policy shall include a
waiver of all rights of subrogation by the insurance carrier against the other party, its agents and employees with respect to property damage covered by the applicable “all risks” fire and casualty insurance policy. 
 27. 
Liability of Tenant. Tenant shall indemnify, protect, defend (with counsel approved by Landlord) and hold harmless Landlord and Landlord’s agents and employees from and against any and all claims, judgments,
awards, amounts paid in settlements, penalties, fines, damages, liabilities, losses, suits, proceedings and costs (including, without limitation, attorneys’ fees) of any kind or nature, known or unknown, contingent or otherwise, suffered or
incurred, whether before, during or after the Term of this Lease, arising from or related to: (i) any default by Tenant in the observance or performance of any of the terms, covenants or conditions of this Lease on Tenant’s part to be
observed or performed; (ii) the use or occupancy of the Premises; (iii) the condition of the Premises or any occurrence or happening on the Premises from any cause whatsoever, except to the extent resulting from the gross negligence or
willful misconduct of Landlord or any Landlord Party; or (iv) any acts or omissions of Tenant or any other Tenant Party in, on or about the Premises, the Building or the Property, either prior to, during or after the expiration of the Term of
this Lease or earlier termination of this Lease. Notwithstanding the foregoing or any other provision of this Lease to the contrary, Landlord may engage its own attorneys and other professionals to defend or assist it in connection with any matter
with respect to which Tenant is required to indemnify it, protect it, defend it, or hold it harmless under this Lease, and, at the option of Landlord, its attorneys shall control the resolution of the subject matter. Tenant shall pay to Landlord and
its agents and employees upon demand all costs incurred by them in connection with the subject matter, including, without limitation, professional fees such as appraisers’, accountants’ and attorneys’ fees. The indemnities contained
herein do not override the waivers contained in Section 26(e) above. 
 28. 
Acceptance and Waiver. Landlord shall not be liable to Tenant, its agents, employees, guests or invitees (and, if Tenant is a corporation, its officers, agents, employees, guests or invitees) for any damage caused
to any of them due to the Building or the Property or any part or appurtenances thereof being improperly constructed or being or becoming out of repair, or arising from the leaking of gas, water, sewer or steam pipes, or from electricity, but
Tenant, by taking possession of the Premises, shall be held to have accepted the Premises as suitable for the purposes for which the same are leased, and shall be held to have accepted the Building and the Property and every appurtenances thereof,
and Tenant by said act waives any and all defects therein; provided, however, that this Section shall not preclude Tenant from seeking recovery from any third party responsible for such damage or injury. Furthermore, notwithstanding anything to the
contrary set forth in this Lease, Landlord shall not be liable under any circumstances for a loss of, or injury to, property or for injury to, or interference with, Tenant’s business, including, without limitation, loss of profits, or
consequential or punitive damages, however occurring. 
  

 25 

 29. 
Tenant’s Estoppel. Tenant shall, from time to time, upon not less than ten (10) days prior request by Landlord, execute, acknowledge and deliver to Landlord a statement certifying (i) that this Lease
is unmodified and in full force and effect (or, if there have been modifications, (ii) that the same is in full force and effect as modified and stating the modifications), (iii) the dates to which the Rent has been paid, (iv) that
Tenant is not in default hereunder and whether Tenant has any offsets or defenses against Landlord under this Lease, (v) whether or not to the best of Tenant’s knowledge Landlord is in default hereunder (and if so, specifying the nature of
the default), and (vi) such other matters as Landlord may request. Such statement delivered pursuant to this Section may be relied upon by a prospective purchaser of Landlord’s interest or by an actual or prospective mortgagee of
Landlord’s interest or an actual or prospective assignee of any security deed upon Landlord’s interest in the Premises. 
 30.

Notices. Any notice which is required or permitted to be given by either party under this Lease shall be in writing and must be given only by certified mail, return receipt requested, by hand delivery, or by
nationally recognized overnight courier service at the addresses set forth in the Basic Lease Provisions. Any such notice sent by personal delivery in accordance with the foregoing shall be delivered during normal business hours and shall be deemed
received when delivered or, if delivery is rejected, when delivery was attempted. Any such notice sent by overnight courier service in accordance with the foregoing shall be deemed received on the first business day following the date sent. Any such
notice sent by certified mail in accordance with the foregoing shall be deemed received on the third (3rd) business day following the date mailed. Any such notice shall be deemed given on the earlier of two business days after the date sent in
accordance with one of the permitted methods described above or the date of actual receipt thereof. Either party may change its notice address by notice to the other party in accordance with the terms of this Section 30. The initial notice
addresses for each party are set forth in the Basic Lease Provisions. 
 31. 
Abandonment of Premises. Tenant agrees not to abandon or vacate the Premises during the Term of this Lease. If Tenant does abandon or vacate the Premises for more than ninety (90) days, Landlord may terminate
this Lease, by notice to Tenant at any time prior to Tenant reoccupying the Premises, but such termination shall not entitle Landlord to pursue any other remedies unless an uncured event of default then exists, in which case Landlord may pursue any
and all remedies provided by this Lease, at law or in equity. 
 32. 
Default. The following shall constitute events of default under this Lease: 
 (a) if Tenant shall default
in the payment of Rent herein reserved when due and fails to cure such default within five (5) days after notice of such default is given to Tenant by Landlord; 
 (b) if Tenant shall fail to perform any of the terms, conditions or provisions of this Lease (other than the provisions requiring the payment of Rent), and fails to cure such non-monetary default ten (10) days
after notice of such default is given to Tenant by Landlord, provided however that if such non-monetary default is of such a nature that it cannot through the 
  

 26 

 exercise of diligent and reasonable efforts be cured within ten (10) days, then Tenant shall not be in default in
such instance if Tenant promptly commences and diligently pursues the cure of such non-monetary default to completion as soon as possible and in all events within ninety (90) days after such initial notice; 
 (c) if (i) Tenant, (ii) any general partner or managing member of Tenant or any person owning a controlling interest in Tenant, or
(iii) any guarantor of any obligations of Tenant under this Lease: (1) applies for, consents to, acquiesces to, or is subject to the appointment of a receiver, trustee, custodian, liquidator or other similar official for itself or for all
or a substantial part of its assets; (2) is subject to a bankruptcy, insolvency, reorganization, liquidation, dissolution or similar proceeding or admits in writing its inability to pay its debts as they come due; (3) makes an assignment
for the benefit of creditors; (4) files a petition or an answer seeking, consenting to, or acquiescing in a reorganization or an arrangement with creditors, or seeks to take advantage of any bankruptcy law, insolvency law or other law for the
relief of debtors; (5) performs any other act of bankruptcy; or (6) files an answer admitting the material allegations of a petition filed against it in any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar
proceeding; 
 (d) any execution, levy or attachment shall occur upon, or with respect to (i) Tenant’s interest in the Premises
and/or this Lease, or (ii) any property of Tenant, any general partner of Tenant, any managing member of Tenant, any person owning a controlling interest in Tenant, or any guarantor of any obligations of Tenant under this Lease; 
 (e) Tenant’s violation of any term, covenant or condition of Section 11 above or Section 17 above; 
 (f) Tenant fails to carry all insurance required to be obtained by Tenant pursuant to Section 26 above; 
 (g) the occurrence of any event or condition expressly designated elsewhere in this Lease as an “event of default”; 
 (h) if Tenant is an individual, in the event of the death of the individual and the failure of the executor, administrator or personal representative of
the estate of the deceased individual to have assigned the Lease within three (3) months after such death to an assignee approved by Landlord; or 
 (i) any guarantor of any obligations of Tenant under this Lease fails to observe or perform any term or provision to be observed or performed by such guarantor under the guaranty executed by it in favor of Landlord.

 In any of such events, Landlord, at its sole option, may exercise any or all of the remedies set forth in Section 33 below. 
 33. 
Landlord’s Remedies. Upon the occurrence of an event of default, Landlord shall have, in addition to any other remedies available to Landlord under this Lease and/or at law and/or in equity, the right to
pursue, without notice or demand, any one or more of the rights or remedies set forth below in this Section, each and all of which shall be cumulative and 
  

 27 

 nonexclusive. Any costs incurred by Landlord (including, without limitation, reasonable attorneys’ fees and court
costs) in enforcing any of its rights or remedies under this Lease shall be deemed to be Additional Rent and shall be paid by Tenant to Landlord upon demand. 
 (a) terminate this Lease by giving Tenant notice of termination, in which event this Lease shall terminate on the date specified in such notice and all rights of Tenant under this Lease shall expire and terminate as
of such date, Tenant shall remain liable for all obligations under this Lease up to the date of such termination and Tenant shall surrender the Premises to Landlord on the date specified in such notice; and if Tenant fails to so surrender, Landlord
shall have the right, without notice, to enter upon and take possession of the Premises and to expel and remove Tenant and its effects without being liable for prosecution or any claim of damages therefor. The provision of this Section shall operate
as a notice to quit, and Tenant hereby waives any other notice to quit or notice of Landlord’s intention to terminate this Lease or Tenant’s right to possession of the Premises; 
 (b) terminate this Lease as provided in the immediately preceding subsection and recover from Tenant all damages Landlord may incur by reason of
Tenant’s default, including without limitation, the then present value (discounted at a rate equal to the then issued United States Treasury Bill having a maturity (at the time of Landlord’s demand) approximately equal to the remaining
Term of this Lease had such default not occurred) of (i) the Rent which would have been payable hereunder by Tenant for the period beginning with the day following the date of such termination and ending with the last day of the scheduled Term,
minus (ii) the aggregate reasonable rental value of the Premises for the same period (as determined by a real estate broker selected by Landlord who is licensed in the state where the Building is located, taking into account all relevant
factors including, without limitation, the length of the remaining Term, the then current market conditions in the general area, the likelihood of reletting for a period equal to the remainder of the Term, net effective rates then being obtained by
landlords for similar type space in similar buildings in the general area, vacancy levels in the general area, current levels of new construction in the general area and how that would affect vacancy and rental rates during the period equal to the
remainder of the Term and inflation), plus (iii) the costs of recovering the Premises, and all other expenses incurred by Landlord due to Tenant’s default, including, without limitation, reasonable attorneys’ fees, plus (iv) the
unpaid Rent earned as of the date of termination, plus interest at the Interest Rate, all of which sum shall be immediately due and payable by Tenant to Landlord; 
 (c) without terminating this Lease, and without notice to Tenant, Landlord may enter into and take possession of the Premises and re-let the Premises, or any portion thereof, as agent of Tenant, upon any terms and
conditions as Landlord may deem necessary or desirable (Landlord shall have no obligation to attempt to re-let the Premises or any part thereof except to the extent required by applicable law). Upon any such re-letting, all rentals received by
Landlord from such re-letting shall be applied first to the costs incurred by Landlord in accomplishing any such re-letting, and thereafter shall be applied to the Rent owed by Tenant to Landlord during the remainder of the Term of this Lease and
Tenant shall pay any deficiency between the remaining Rent due hereunder and the amount received by such re-letting as and when due hereunder, Separate suits may be brought from time to time to collect any such damages for any month(s), and any such
separate suit shall not in any manner prejudice the right of Landlord to collect any damages for any subsequent month(s), or Landlord may defer 
  

 28 

 initiating any such suit until after the expiration of the scheduled Term (in which event such deferral shall not be
construed as a waiver of Landlord’s rights set forth herein and Landlord’s cause of action shall be deemed not to have accrued until the expiration of the scheduled Term), it being further understood that any net rent shall operate only as
an offsetting credit against the amount of Base Rent and monthly Additional Rent as the same thereafter becomes due and payable hereunder, but the use of such offsetting credit to reduce the amount of Base Rent and monthly Additional Rent due shall
not be deemed to give Tenant any right, title or interest in or to the same and any such net rent shall belong to Landlord solely, and in no event shall Tenant be entitled to a credit on its indebtedness to Landlord in excess of the aggregate sum of
Base Rent and monthly Additional Rent payable for the portion of the Term corresponding to the term of the subject reletting; and/or 
 (d)
collect Rent from Tenant as it becomes due. 
 Tenant, on its own behalf and on behalf of all persons claiming through or under Tenant, including all
creditors, does hereby specifically waive and surrender any and all rights and privileges Tenant and all such persons might otherwise have under any present or future law: (i) to the service of any notice to quit or of Landlord’s intention
to re-enter or to institute legal proceedings, which notice may otherwise be required to be given; (ii) to redeem, re-enter or repossess the Premises; (iii) to restore the operation of this Lease, with respect to any dispossession of
Tenant by judgment or warrant of any court or judge, or any re-entry by Landlord, or any expiration of the Term or earlier termination of this Lease, whether such dispossession, re-entry, expiration or termination shall be by operation of Law or
pursuant to the provisions of this Lease; or (iv) which exempts property from liability for debt or for distress for rent. The words “dispossession”, “re-enter”, “re-entry”, “re-entered”,
“repossess” and “redeem” as used in this Lease shall not be deemed to be restricted to their technical legal meanings. 
 34. 
Landlord’s Right to Cure Defaults. All terms of this Lease to be performed or observed by Tenant shall be performed by Tenant at Tenant’s sole cost and without any reduction, offset or deduction of Rent.
If Tenant shall fail to timely perform or observe any of the terms of this Lease to be observed or performed by Tenant, Landlord may, but shall not be obligated to, without notice to or demand upon Tenant, make the subject payment or perform or
otherwise cause compliance with the subject term. Landlord’s taking such action should not be considered a cure of the subject failure by Tenant. Landlord may take such action without releasing Tenant from any obligations hereunder and without
waiving or releasing any right or remedy of Landlord under this Lease, at Law or in equity with respect to the subject failure by Tenant. Tenant shall pay to Landlord, upon demand: (i) all costs incurred by Landlord in connection with the
remedying by Landlord of defaults by Tenant under this Lease and all other amounts paid and obligations incurred by Landlord in connection with any default by Tenant under this Lease, and/or in collecting or attempting to collect the Rent and/or in
enforcing or attempting to enforce any rights of Landlord under this Lease, including, without limitation, attorneys’ fees, together with an Administrative Fee (as defined below); and (ii) sums equal to all losses, liabilities and damages
referred to in Section 27 relative to the subject default. All amounts payable by Tenant to Landlord in accordance with the foregoing shall be payable by Tenant to Landlord upon demand, together with interest thereon accruing from the date
incurred by Landlord through the date paid by Tenant, at the Interest Rate. The term “Administrative Fee” as used herein shall mean a fee payable to Landlord for Landlord’s involvement in the 
  

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 subject matter, which fee is equal to a percentage of the aggregate amount of the subject costs and, other amounts with
respect to which such fee is payable, which percentage shall be equal to ten percent (10%). 
 35. 
Cumulative Rights/No Waiver. All rights and remedies of Landlord set forth in this Lease are cumulative and in addition to all other rights and remedies available to Landlord at law or in equity. The exercise by
Landlord of any such right or remedy shall not prevent the concurrent or subsequent exercise of any other right or remedy. No delay or failure by Landlord to exercise or enforce any of Landlord’s rights or remedies or Tenant’s obligations
hereunder shall constitute a waiver of any such rights, remedies or obligations. Landlord shall not be deemed to have waived any default hereunder by Tenant unless such waiver is expressly set forth in an instrument signed by Landlord. If Landlord
waives any default hereunder by Tenant, such waiver shall not be construed as a waiver of any covenant, condition or agreement set forth in this Lease except as to the specific circumstances described in such waiver. If Landlord shall institute
proceedings against Tenant with respect to Tenant’s failure to observe or perform any term of this Lease and a compromise or settlement thereof shall be made, then the same shall not constitute a waiver of the subject term or of any other term,
provision, covenant, condition or agreement set forth herein, nor of any of Landlord’s rights hereunder. No payment by Tenant of a lesser amount than the monthly installment of Base Rent, Additional Rent or of any other sums due hereunder shall
be deemed to be other than a payment on account, nor shall any endorsement or statement on any check or letter accompanying a check for payment of Rent or other sums payable hereunder be deemed an accord and satisfaction. Landlord may accept the
same without prejudice to Landlord’s right to recover the balance of such Rent or other sums or to pursue any other remedy. Receipt and acceptance by Landlord of any Rent due to Landlord hereunder for the performance of any obligations of
Tenant hereunder with the knowledge of the existence of any default or condition which, if left uncured, will constitute a default by Tenant hereunder, shall not be deemed a waiver of such default. No receipt of amounts by Landlord from Tenant after
the termination of this Lease shall in any way alter the length of the Term of this Lease or of Tenant’s right of possession hereunder, and no receipt of amounts by Landlord from Tenant after the delivery of any notice shall reinstate, continue
or extend the Term of this Lease or affect any notice delivered to Tenant prior to Landlord’s receipt of such amounts, it being agreed that after the delivery of notice or the commencement of a suit or after final judgment for possession of the
Premises, Landlord may receive and collect any Rent due, and the payment of said Rent shall not waive or affect said notice, suit or judgment. No re-entry by Landlord, and no acceptance by Landlord of keys from Tenant, shall be considered an
acceptance of a surrender of this Lease. 
 36. 
Attorneys’ Fees. In case Landlord shall, without fault on its part, be made a party to any litigation commenced by or against Tenant, then Tenant shall pay all reasonable amounts, costs and expenses (including
attorneys’ fees) incurred or paid by Landlord in connection with such litigation. In the event of any action, suit or proceeding brought by Landlord or Tenant to enforce any of the other’s covenants and agreements in this Lease, the
prevailing party shall be entitled to recover from the non-prevailing party all reasonable costs and expenses (including attorneys’ fees) incurred in connection with such action, suit or proceeding. 
  

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 37. 
Service of Notice. Except as otherwise provided by law, Tenant hereby appoints as its agent to receive the service of all dispossessory or distraint proceedings and notices thereunder, the person in charge of or
occupying the Premises at the time of such proceeding or notice; and if no person be in charge or occupying the Premises, then such service may be made by attaching the same to the front entrance of the Premises 
 38. 
Surrender of Premises. Whenever under the terms hereof Landlord is entitled to possession of the Premises, Tenant at once shall surrender the Premises and the keys thereto to Landlord broom clean and in the same
condition as on the Commencement Date hereof, normal wear and tear only excepted, and Tenant shall remove all of its personalty therefrom and shall, if directed to do so by Landlord, remove all improvements and fixtures, including cables, installed
by or on behalf of Tenant and restore the Premises to its original condition prior to the construction/installation of any improvements and fixtures which have been made therein by or on behalf of Tenant, including any improvements made prior to the
Commencement Date. If Tenant fails to timely and properly remove the foregoing items and repair the damage described above, at Landlord’s election: (i) such items shall be deemed abandoned and become Landlord’s property without
payment or offset; (ii) Landlord may remove the same and store them in a public warehouse or elsewhere at the cost of, and for the account of, Tenant, and Landlord may repair all damage to the Premises, the Building and any other portion of the
Property resulting from removable of the same from the Premises, and Tenant shall pay to Landlord upon demand all costs incurred by Landlord in connection therewith; or (iii) Landlord may remove and dispose of the same in such manner as
Landlord may elect and repair all resulting damage to the Premises and/or the Building and/or any other portion of the Property and Tenant shall pay to Landlord upon demand all costs incurred by Landlord in connection therewith. If Tenant fails to
timely and properly cause the removal of the foregoing described items, Landlord shall also have the right to relinquish possession of all or any portion of the same to any person (“Claimant”) claiming to be entitled to possession thereof
who presents to Landlord a copy of an instrument represented to Landlord by the Claimant to be have been executed by Tenant (or any predecessor of Tenant) granting the Claimant the right under various circumstances to take possession of the subject
furniture, equipment or other personal property, without the necessity on the part of Landlord to inquire into the authenticity of Tenant’s or Tenant’s predecessor’s signature thereon and without the necessity of Landlord making any
investigation or inquiry of any nature as to the validity of the factual or the legal basis upon which the Claimant purports to act; and Tenant agrees to indemnify, protect, defend (with counsel approved by Landlord) and hold harmless Landlord and
its agents and employees from and against any and all claims, judgments, awards, amounts paid in settlements, penalties, fines, damages, liabilities, losses, suits, proceedings and costs (including, without limitation, attorneys’ fees) of any
kind or nature, known or unknown, contingent or otherwise, suffered or incurred by any of them in connection with Landlord’s relinquishment of possession of all or any portion of such furniture, equipment or other personal property to the
Claimant. If Tenant fails to surrender the Premises in accordance with the foregoing, then Landlord may forthwith re-enter the Premises and repossess itself thereof and remove all persons and effects therefrom, using such force as may be reasonably
necessary without being guilty of forcible entry, detainer, trespass or other tort. Tenant’s obligation to observe or perform these covenants shall survive the expiration or other termination of the Term of this Lease. If the last day of the
Term of this Lease or any renewal falls on a Saturday, Sunday or a legal holiday, this Lease shall expire on the business day immediately preceding. 
  

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 39. 
Removal of Fixtures. If Tenant is not in default hereunder, Tenant may, prior to the expiration of the Term of this Lease, or any extension thereof, remove any fixtures and equipment which Tenant has placed in the
Premises which can be removed without significant damage to the Premises, provided Tenant promptly repairs all damages to the Premises caused by such removal. 
 40. 
Holding Over. If Tenant fails to surrender the Premises to Landlord upon the expiration of the Term or earlier termination of this Lease, then such occupancy of the Premises thereafter shall not constitute a
renewal or extension of the Term and such tenancy shall be a tenancy at sufferance upon all of the terms and provisions set forth in this Lease, except that (i) any options (e.g., renewal and expansion) and any rights of first offer, rights of
first refusal and similar rights contained in this Lease shall be of no further force or effect, and (ii) Tenant shall pay a use and occupancy charge for the Premises during its period of holdover in an amount equal to the higher of
(a) twice the then fair market rent for the Premises as reasonably determined by Landlord, or (b) twice the rate of Base Rent and monthly Additional Rent payable during the last year of the Term. Nothing contained in this Section shall be
construed as Landlord’s consent to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration of the Term or at any
time thereafter as Landlord shall elect prior to Landlord’s acceptance of rent from Tenant as a monthly tenant hereunder, whereupon Landlord may reenter and take possession of the Premises without process or by any applicable legal process. The
provisions of this Section shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided under this Lease and/or at law and/or in equity with respect to a holdover by Tenant. No acceptance by Landlord of
payments from Tenant after the expiration of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the terms of this Section and the other provisions of this Lease. If Tenant fails to surrender
the Premises upon the expiration of the Term, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall indemnify, protect, defend (with counsel approved by Landlord) and hold harmless Landlord from any and all claims,
judgments, awards, amounts paid in settlements, penalties, fines, damages, liabilities, losses, suits, proceedings and costs (including, without limitation, attorneys’ fees) of any kind or nature, known or unknown, contingent or otherwise,
suffered or incurred, arising or resulting directly or indirectly from such failure, including, without limiting the generality of the foregoing, any claims made by any succeeding tenant or other person founded upon such failure to surrender, and
any lost profits to Landlord resulting therefrom. The terms of this Section shall survive the expiration of the Term. 
 41. 
[Intentionally Omitted]. 
 42. 
Force Majeure. If Landlord or Tenant is in any way delayed or prevented from performing any of its obligations under this Lease due to fire, other casualty, act of God, act or failure to act by governmental
authority, civil commotion, strike, labor dispute, inability to procure services or materials, or any other cause beyond the reasonable control of Landlord or Tenant (not including any insolvency, bankruptcy or financial condition or financial
difficulties of Landlord or Tenant), whether similar or dissimilar to the foregoing events (“Force Majeure”), then, notwithstanding anything to the contrary set forth in this Lease, the time for performance of such obligation shall be
excused for the period of such delay or prevention and extended for a period equal to the period of such delay or prevention. 
  

 32 

 43. 
Sale. In the event the original Landlord hereunder, or any successor owner of the Building, shall sell or convey its interest in the Building and the Property, all liabilities and obligations on the part of the
original Landlord, or such successor owner, under this Lease accruing thereafter shall terminate, and thereupon all such liabilities and obligations shall be binding upon the new owner. Tenant agrees to attorn to such new owner. 
 44. 
Limitation of Liability. Landlord’s obligations and liability with respect to this Lease shall be limited solely to Landlord’s interest in the Building and the Property, as such interest is constituted
from time to time, and neither Landlord nor any partner or member of Landlord, or any officer, director, shareholder, or partner or member of any partner or member of Landlord, shall have any individual or personal liability whatsoever with respect
to this Lease. 
 45. 
Broker Disclosure. The Landlord’s Broker identified in the Basic Lease Provisions, who is a real estate broker licensed in the State/Commonwealth where the Building is located, has acted as agent for Landlord
in this transaction and is to be paid a commission by Landlord pursuant to a separate agreement. The Tenant’s Broker identified in the Basic Lease Provisions, who is a real estate broker licensed in the State/Commonwealth where the Building is
located, has acted as agent for Tenant in this transaction and is to be paid a commission by Landlord pursuant to a separate agreement. Landlord represents that Landlord has dealt with no other broker other than the broker(s) identified herein.
Landlord agrees that, if any other broker makes a claim for a commission based upon the actions of Landlord, Landlord shall indemnify, protect, defend and hold harmless Tenant from any such claim. Tenant represents that Tenant has dealt with no
broker other than the broker(s) identified herein. Tenant agrees that, if any other broker makes a claim for a commission based upon the actions of Tenant, Tenant shall indemnify, protect, defend and hold harmless Landlord from any such claim.
Tenant will cause Tenant’s Broker to execute a customary lien waiver, adequate under applicable law, to extinguish any lien claims such broker may have in connection with this Lease. 
 46. 
Relationship of Parties. Nothing contained in this Lease shall be deemed or construed to create the relationship of principal and agent, partnership, joint venturer or any association between Landlord and Tenant,
it being expressly understood and agreed that neither the method of computation of Rent nor any act of the parties hereto shall be deemed to create any relationship between Landlord and Tenant other than the relationship of landlord and tenant.

 47. 
Section Titles. The section titles used herein are not to be considered a substantive part of this Lease, but merely descriptive aids to identify the section to which they refer. Use of the masculine gender
includes the feminine and neuter, and vice versa, where necessary to impart contextual continuity. 
 48. 
Waiver of Trial by Jury; Service of Process; and Venue. LANDLORD AND TENANT HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER ON ANY
MATTERS 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 AND OR ANY STATUTORY REMEDY. TENANT AND EACH OF TENANT’S PARTNERS, IF ANY,
CONSENTS TO SERVICE OF PROCESS AND ANY PLEADING RELATING TO ANY SUCH ACTION AT 
  

 33 

 THE PREMISES AND HEREBY APPOINTS AS ITS AGENT TO RECEIVE SERVICE OF PROCESS THE PERSON IN CHARGE OF THE PREMISES AT THE
TIME, AND IF NO PERSON SHALL THEN BE IN CHARGE OF THE PREMISES OR IF TENANT FAILS TO IDENTIFY SUCH PERSON BY DELIVERING NOTICE TO LANDLORD WITHIN THREE (3) BUSINESS DAYS AFTER TENANT’S RECEIPT OF LANDLORD’S REQUEST, THEN SUCH SERVICE
MAY BE MADE BY ATTACHING THE SAME TO THE MAIN ENTRANCE OF PREMISES; PROVIDED, HOWEVER, THAT NOTHING HEREIN SHALL BE CONSTRUED AS REQUIRING SUCH SERVICE AT THE PREMISES OR TO SUCH PERSON. ANY ACTION OR PROCEEDING ARISING WITH RESPECT TO MATTERS
RELATIVE TO THIS LEASE SHALL BE BROUGHT IN THE COURTS OF THE STATE/COMMONWEALTH IN WHICH THE BUILDING IS LOCATED. IF ANY SUCH ACTION OR PROCEEDING ARISES UNDER THE CONSTITUTION, ANY FEDERAL LAW, OR IF THERE IS A DIVERSITY OF CITIZENSHIP BETWEEN
PARTIES TO SUCH ACTION, SO THAT SUIT MAY BE BROUGHT IN A UNITED STATES DISTRICT COURT, THE SUBJECT ACTION OR PROCEEDING SHALL BE BROUGHT IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT IN WHICH THE BUILDING IS LOCATED. LANDLORD, TENANT AND
THEIR RESPECTIVE PARTNERS, IF ANY, WAIVE ANY OBJECTION TO THE VENUE OF ANY ACTION FILED IN ANY COURT SITUATED IN THE JURISDICTION IN WHICH THE BUILDING IS LOCATED AND WAIVE ANY RIGHT UNDER THE DOCTRINE OF FORUM NON CONVENIENS OR OTHERWISE, TO
TRANSFER ANY SUCH ACTION FILED IN ANY SUCH COURT TO ANY OTHER COURT. LANDLORD MAY JOIN INDIVIDUAL PARTNERS IN TENANT IN A SUIT OR ACTION TO THE EXTENT SUCH JOINDER IS REQUIRED BY LAW TO OBTAIN A JUDGMENT AGAINST TENANT. THE TERMS OF THIS SECTION
SHALL SURVIVE THE EXPIRATION OF THE TERM OF THIS LEASE OR EARLIER TERMINATION OF THIS LEASE. 
 49. 
Partial Invalidity. If any term of this Lease or the application thereof to any person or circumstance, shall, to any extent, be invalid or unenforceable, then the remainder of this Lease, and the application of
such term or provision to persons or circumstances other than those with respect to which it is invalid or unenforceable, shall not be affected thereby, and every other term and provision of this Lease shall be valid and enforceable to the fullest
extent permitted by Law. 
 50. 
Entire Agreement. This Lease contains the entire agreement of the parties and no representations, inducements, promises or agreements, oral or otherwise, between the parties not embodied herein shall be of any
force or effect. 
 51. 
Authority. Tenant does hereby represent and warrant that Tenant is a duly organized and validly existing corporation, limited partnership, limited liability company or other type of entity, that Tenant is qualified
to do business in the state where the Building is located, that Tenant has full right, power and authority to enter into this Lease, and that each person signing on behalf of Tenant is authorized to do so. Upon Landlord’s request, Tenant shall
provide Landlord with evidence reasonably satisfactory to Landlord confirming the foregoing representations and warranties. Concurrently with its execution and delivery of this Lease, Tenant shall deliver to Landlord a corporate resolution in
reasonable form evidencing the due authorization of Tenant, and the individual who executes this Lease on behalf of Tenant, to enter into this Lease. 
  

 34 

 52. 
Financial Statements and Information. Within ten (10) days following its receipt of Landlord’s request from time to time, Tenant shall deliver to Landlord copies of such financial statements and other
information as Landlord may request for Tenant. As long as the voting stock in Tenant is listed on a “national securities exchange” (as defined in the Securities Exchange Act of 1934), such financial statements and other information shall
be that which is generally made available to the investing public. 
 53. 
Governing Law. Except to the extent superseded by Federal Law, this Lease shall be construed and enforced in accordance with the laws of the State/Commonwealth, county and municipality in which the Property is
located, without regard to the application of choice of laws principles. 
 54. 
Landlord’s Title. Landlord’s title to the Premises, the Building and the Property is and always shall be paramount to the title of Tenant. Nothing herein contained shall empower Tenant to do any act which
can, shall or may encumber the title of Landlord in or to any portion of the Premises, the Building or any other portion of the Property. 
 55. 
Time of Essence. Time is of the essence of this Lease and each of its provisions. 
 56. 
Survival. The effect of the expiration of the Term of this Lease or earlier termination of the Lease shall be to discharge Landlord and Tenant from future performance of their respective obligations under this
Lease, but not from their rights and obligations existing upon the expiration of the Term of this Lease or earlier termination of the Lease or from any of their respective obligations which, by the terms of this Lease, survive the expiration of the
Term of this Lease or earlier termination of this Lease. Further, any obligation of Landlord or Tenant which by its nature or under the circumstances can only be, or by the provisions of this Lease may be, performed after the expiration of the Term
of this Lease or earlier termination of this Lease, and any liability for a payment which shall have accrued with respect to any period ending at any time prior to such expiration or earlier termination, unless expressly otherwise provided in this
Lease, shall survive the expiration of the Term of this Lease or earlier termination of this Lease. Notwithstanding the foregoing or any of the provision of this Lease, the terms of this Section 56 shall survive the expiration of the Term of
this Lease or earlier termination of this Lease. 
 57. 
Independent Covenants. This Lease shall be construed as though the covenants contained herein are independent, and Tenant hereby expressly waives the benefit of any law to the contrary. Tenant agrees that if
Landlord fails to perform any of its obligations set forth herein, Tenant shall not be entitled to make any repair or perform any act at Landlord’s expense or to any setoff, deduction or reduction of the Rent or other amounts payable hereunder
by Tenant to Landlord. The foregoing shall in no way impair the right of Tenant to commence a separate action against Landlord for any violation by Landlord of the provisions of this Lease so long as prior notice is delivered by Tenant to Landlord
and each Holder of whose address Tenant has theretofore been notified, and a reasonable opportunity is granted to Landlord and such Security Documents to cure the subject default 
  

 35 

 58. 
Preparation of Lease. There shall be no presumption that this Lease be construed more strictly against the party who itself or through its agent prepared it, it being agreed that all parties hereto have
participated in the preparation of this Lease and that each party was represented by legal counsel in connection with this Lease or had the opportunity to consult legal counsel before its execution of this Lease. 
 59. 
Successors and Assigns. The provisions of this Lease shall be binding upon and inure to the benefit of each of the parties hereto and their respective successors and assigns, provided that no violation of the terms
of Section 17 above shall operate to vest any rights in any successor or assignee of Tenant and the provisions of this Section shall not be deemed to modify any terms of Section 17 above. 
 60. 
Submission of Agreement. Submission of this Lease to Tenant for signature does not constitute a reservation of space or an option to acquire a right of entry. This Lease is not binding or effective until execution
by and delivery to both Landlord and Tenant. 
 61. 
Counterparts. This Lease may be executed in multiple counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same document. Faxed signatures shall have the
same binding effect as original signatures. 
 62.
*** 
  
  
  
  
  

 36 

 63. 
USA Patriot Act and Anti-Terrorism Laws. Tenant hereby represents that, it is not, and shall not be at any time while this Lease is in effect, a Person (as defined below) with whom Landlord is restricted from doing
business with under the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, H.R. 3162, Public Law 107-56 (commonly known as the “USA Patriot Act”) and Executive Order
Number 13224 on Terrorism Financing, effective September 24, 2001 and regulations promulgated pursuant thereto (collectively, “Anti-Terrorism Laws”), including persons and entities named on the Office of Foreign Asset Control
Specially Designated Nationals and Blocked Persons List. As used herein, a “Person” shall mean any individual, estate, trust, general or limited partnership, limited liability company, limited liability partnership, corporation,
governmental agency or other legal entity and any unincorporated association. 
  

 37 

 EXHIBIT A 
 LEGAL DESCRIPTION 
 BEING KNOWN AND DESIGNATED as Lots Nos. 3RR and 4R as shown on Plat entitled “ADMINISTRATIVE PLAT
LOT 3RR, A RESUBDIVISION OF LOT 3R, MARLEY NECK INDUSTRIAL PARK”, which Plat is recorded among the Land records of Anne Arundel County, Maryland in Plat Book No. 247, Plats Nos. 12879 and 12880. 
  

 A-1 

 EXHIBIT A - 1 
 PLAN SHOWING 
 PREMISES BY DIAGONAL LINES 
 

 
  

 A-2 

 EXHIBIT B 
 WORKLETTER AGREEMENT 
 This Workletter Agreement (this “Workletter”) is
attached to and made a part of that certain Lease Agreement dated as of October 19, 2006, between MARLEY NECK 3R, LLC, as “Landlord”, and UNDER ARMOUR, INC., as “Tenant” (the “Lease”). This Workletter
shall set forth the terms and conditions relating to the initial construction of improvements in the Premises. Capitalized terms used herein, unless otherwise defined in this Workletter, shall have the respective meanings ascribed to them in the
Lease. 
 1. Construction of Base, Core and Shell of Building. Tenant, at Tenant’s sole cost, shall install any work or
materials in the Premises (collectively, the “Work”) in accordance with the terms of this Workletter. 
 2. Plans and
Permits. 
 2.1. General. All plans, working drawings and specifications submitted by Tenant to Landlord pursuant to this
Workletter (the “Plans”) shall be prepared by architects and engineers approved by Landlord and licensed in the State or Commonwealth in which the Building is located. Tenant’s architect and engineers shall verify, in the field, the
dimensions and conditions of the Premises and the Building. Tenant is solely responsible for such verification and Landlord shall have no responsibility in connection therewith. Tenant shall be responsible to cause the Plans to conform with the
plans for the Building and existing as-built conditions and to comply with all applicable laws, ordinances, orders, codes, rules, regulations and other requirements of any governmental authorities having or asserting jurisdiction over the Premises
or the Building, including, without limitation, the Americans with Disabilities Act (collectively, the “Laws”). Neither the design of the Work as reflected in the Plans, nor the construction and installation of the Work, shall
(a) cause any interference to, or adverse affect upon, the base, core or shell of the Building, or the HVAC, mechanical, plumbing, life-safety, electrical or other systems of the Building, or any other operation or function of the Building, or
(b) increase the cost of operating the Building, unless otherwise approved by Landlord and Tenant shall agree to pay such increased cost of operating the Building. The Work shall be of first-class quality and consist of materials commensurate
with the level of improvements for first-class buildings within the vicinity of the Building. Notwithstanding the review of any Plans by Landlord or its architect, engineers or consultants and notwithstanding any advice or assistance which
may be rendered to Tenant by Landlord or Landlord’s architect, engineers or consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions, inconsistencies or errors contained in
the Plans or the failure of the Plans to comply with the terms of this Workletter. Landlord’s approval of the Plans shall in no way be deemed to be acceptance or approval of any element therein contained which is in violation of any Laws or
otherwise fails to comply with the terms of this Workletter. 
 2.2. Landlord’s Approval. All Plans shall be subject to
Landlord’s approval. Landlord agrees not to unreasonably withhold its approval of the Plans; provided, however, Landlord shall not be deemed to have acted unreasonably if it withholds it consent because, in 
  

 B-1 

 Landlord’s opinion, the Work reflected therein; (i) may affect any Building systems, the structure of the
Building or the safety of the Building or its occupants; (ii) would affect the exterior appearance of the Premises or the Building; (iii) may affect Landlord’s ability to furnish services to Tenant or other occupant in the Building;
(iv) may increase the cost of operating the Building; (v) may violate any applicable Laws; (vi) contains or uses hazardous or toxic materials; or (vii) may affect another tenant’s premises. The foregoing reasons, however,
shall not be exclusive of the reasons for which Landlord may withhold consent, whether or not such other reasons are similar to or dissimilar from the foregoing. 
 2.3. Plans for Building. The plans and specifications for the Building are available for Tenant’s inspection at Landlord’s office. Landlord reserves the right to make changes to such plans and
specifications, provided that such changes do not change the character of the Building and do not impair the accessibility or visibility of the Premises or the means of ingress and egress to and from the Premises. Tenant shall be responsible for the
coordination of the Plans with the plans and specifications for the Building and with any variations or as-built conditions from such plans and specifications. Tenant’s architect and engineers shall verify, in the field, the dimensions and
conditions of the Premises and the Building. Tenant is solely responsible for such verification and Landlord shall have no responsibility in connection therewith. 
 2.4. Space Plans. Tenant shall submit space plans for the Premises (the “Space Plan”) to Landlord for Landlord’s approval. The Space Plans shall include a layout and designation of all offices,
rooms and other partitioning, their intended use, and equipment to be contained therein. Landlord shall deliver notice of its approval or disapproval (giving general reasons in case of disapproval) of the Space Plans within ten (10) business
days after its receipt of the same. In the event Landlord disapproves the Space Plans submitted by Tenant, Tenant shall, within five (5) business days thereafter, revise the Space Plans to address the matters disapproved by Landlord and submit
such revised Space Plans to Landlord for its approval. This process shall continue until Landlord approves the Space Plans. 
 2.5. Final
Plans. Tenant shall submit to Landlord for Landlord’s approval full and detailed architectural and engineering plans and specifications for the Work, including, without limitation, partition layout, HVAC plan, plumbing plan, life-safety
plan, fire protection plan, telephone and electrical layout, schedule of finishes, door and hardware schedule and all other items necessary for the full build-out of the Premises (collectively, the “Final Plans”). The Final Plans shall be
in a form which is complete to allow subcontractors to bid on the Work reflected therein and to obtain all applicable permits and other governmental approvals required for the Work. The Final Plans shall include four (4) sepia and four
(4) black and white prints. Landlord shall deliver notice of its approval or disapproval (giving general reasons in case of disapproval) of the Final Plans within fifteen (15) business days after its receipt of the same. If Landlord
disapproves the Final Plans submitted by Tenant, Tenant shall, within five (5) business days thereafter, revise the Final Plans to address the matters disapproved by Landlord and submit such revised Final Plans to Landlord for its approval.
This process shall continue until Landlord approves the Final Plans. 
 3. Permits. Within three (3) business days after
Tenant’s receipt of notice of Landlord’s approval of the Final Plans, Tenant shall submit the Final Plans to all governmental 
  

 B-2 

 authorities having or asserting jurisdiction over the Premises or the Building in order to obtain all permits necessary
to allow Tenant to commence and fully complete construction of the Work in accordance with the Final Plans. In connection therewith, Tenant shall coordinate with Landlord in order to allow Landlord, at its option, to take part in all phases of the
permitting process and shall promptly supply Landlord with all information requested by Landlord in connection therewith. Tenant shall provide to Landlord copies of all permits and other governmental approvals obtained by Tenant with respect to the
Work promptly following Tenant’s receipt of the same and in all events prior to commencement of the subject Work. Notwithstanding anything to the contrary set forth in this Workletter, Tenant hereby agrees that Landlord shall not be responsible
for obtaining any permit or certificate of occupancy for the Premises and that obtaining the same shall be Tenant’s sole responsibility; provided, however, Landlord shall cooperate with Tenant in executing permit applications and performing
other administrative acts reasonably necessary to enable Tenant to obtain such permits and certificate of occupancy. Tenant shall use its best effort to obtain all permits necessary to allow commencement and completion of the Work as soon as
possible after execution of the Lease. In this regard, Tenant shall meet with Landlord on a scheduled basis determined by Landlord to discuss Tenant’s progress in connection with the same. 
 4. Tenant’s Contractor and Subcontractors. Tenant shall cause the Work to be performed by a contractor designated and employed by
Tenant, subject to the following terms and conditions of this Section below. 
 4.1. Landlord’s Approval of Contractor and
Subcontractors. The contractor designated by Tenant (“Tenant’s Contractor”) must be approved by Landlord. Landlord shall be deemed justified in disapproving a contractor proposed by Tenant if Landlord determines that the
employment of such contractor will, or is likely to, result in a strike, work stoppage, work slow-down, or other labor dispute or conflict by or with any other contractor or subcontractor working in the Building. Subcontractors employed by
Tenant’s Contractor shall be subject to approval by Landlord. 
 4.2. Construction Schedule. Prior to commencement of
construction of the Work and after Tenant has accepted all bids for the Work, Tenant shall provide Landlord with a detailed breakdown, by trade, of the final costs to be incurred in connection with the design and construction of the Work, together
with a schedule setting forth the projected date of completion of the Work and showing the critical time deadlines for each phase, item or trade relating to construction of the Work, including a schedule for connections to utility and other systems
in the Building. 
 4.3. Quality of Work. All work performed by Tenant’s Contractor and its subcontractors shall be performed in
a good, workmanlike, first-class and prompt manner, in strict accordance with all: (i) applicable Laws; (ii) applicable standards of the American Insurance Association (formerly the National Board of Fire Underwriters); and (iii) the
Final Plans approved by Landlord. Landlord shall have the right to cause Tenant to correct, replace or remove any improvements installed in the Premises by Tenant’s Contractor or subcontractors that do not comply with the preceding sentence or
any other term of this Workletter; provided, however, Landlord’s failure to cause Tenant to correct, replace or remove any such improvements that do not comply with any term of this Workletter shall not be deemed Landlord’s acceptance of
the same. 
  

 B-3 

 4.4. Manner of Construction. Tenant, Tenant’s Contractor and all subcontractors employed by
Tenant’s Contractor: (i) shall comply with all work rules and regulations adopted by Landlord from time to time for the Building; (ii) shall not, in any way, interfere with, obstruct or delay the work of Landlord’s contractor or
any subcontractor with respect to any other work in the Building; (iii) shall submit to Landlord schedules of all work relating to the Work; and (iv) shall schedule access to the Building and the Premises and use of the Building’s
loading docks and service elevator through the Building manager or Landlord’s construction manager. Landlord shall have the right to exclude Tenant’s Contractor or any of its subcontractor thereof from the Building if the presence of such
contractor or subcontractor results in any dispute or conflict with any other contractor or subcontractor working in the Building. 
 4.5.
Inspections of Work. Tenant shall be solely responsible for the progress of construction of the Work and for the quality or fitness thereof. Landlord shall have the right to inspect the Work at all times; provided, however, that
Landlord’s failure to inspect the Work shall in no event constitute a waiver of any of Landlord’s rights hereunder nor shall Landlord’s inspection of the Work constitute Landlord’s approval of the same. Should Landlord disapprove
any portion of the Work, 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 Work shall be promptly rectified by Tenant at no
expense to Landlord; provided, however, in the event Landlord determines that a defect or deviation exists or disapproves of any matter in connection with any portion of the Work, then Landlord may take such action as Landlord deems necessary, at
Tenant’s expense and without incurring any liability on Landlord’s part, to correct any such defect, deviation and/or matter, including, without limitation, causing the cessation of performance of the construction of the Work until such
time as the subject defect, deviation and/or matter is corrected to Landlord’s satisfaction. 
 4.6. Deliveries Upon Completion of
Work. Upon completion of construction of the Work, Tenant shall deliver to Landlord (i) two sets of mylar reproducible “as-built” plans and specifications and CAD disks for the Work, (ii) certifications executed by
Tenant’s architects, engineers and contractors for the Work, which certifications shall certify, to the best of their knowledge, that the “record-set” of as-built drawings for the Work are true and correct, which certifications shall
survive the expiration or termination of the Lease Term, and (iii) a copy of all warranties, guaranties, and operating and maintenance manuals and information relating to the improvements, equipment and systems comprising the Work. 

4.7. Warranties. Tenant’s Contractor and all of its subcontractors shall warrant to Tenant and for the benefit of Landlord that the
portion of the Work for which it is responsible shall be free from all defects in workmanship and materials for a period of not less than one (1) year from the date of completion thereof. Tenant’s Contractor and each of its subcontractors
shall be responsible for the replacement or repair, without additional charge, of all work done or furnished in accordance with its contract that shall become defective within one (1) year after the later to occur of (i) completion of the
Work performed by such Contractor or subcontractor; and (ii) the first day of the Term of the Lease. The correction of such Work shall include, without 
  

 B-4 

 additional charge, all additional expenses and damages incurred in connection with the subject defective Work and the
restoration of all or any part of the Work, and/or the Building and/or common areas of the Building that may be damaged or disturbed thereby. All such warranties as to materials or workmanship of or with respect to the Work shall be contained in
Tenant’s contract for the subject work or applicable subcontract and shall be written such that such warranties shall inure to the benefit of both Tenant and Landlord, as their respective interest may appear, and can be directly enforced by
either. Tenant covenants to give to Landlord any assignment or other assurances which may be necessary to effect such right of direct enforcement. 
 4.8. Deliveries Prior to Commencement of Construction. Prior to the commencement of construction of the Work, Tenant shall obtain and deliver to Landlord unconditional lien waivers with respect to the Premises and the Building from
Tenant’s Contractor and all subcontractors, and Tenant’s Contractor and its subcontractors shall post such payment and performance bonds prior to commencement of construction of the Work, as are required by Landlord. 
 5. Insurance Requirements. 
 5.1. Types Required. Tenant, Tenant’s Contractor and all of its subcontractors shall carry worker’s compensation insurance covering all of their respective employees, and shall also carry comprehensive general liability
insurance, including property damage, all with limits, in forms and with companies as are required to be carried by Tenant as set forth in Article 26 of the Lease. Tenant shall carry “Builder’s All Risk” insurance in an amount
required by Landlord covering the construction of the Work, and such other insurance as Landlord may require, it being understood and agreed that the Work shall be insured by Tenant pursuant to Article 26 of the Lease immediately upon
completion thereof. Such insurance shall be in amounts and shall include such extended coverage endorsements as may be required by Landlord and shall otherwise be in such forms and with such companies as are required pursuant to Article 26 of
the Lease. Tenant’s Contractor and all subcontractors shall carry excess liability and products and completed operation coverage insurance, each in amounts not less than $5,000,000 per incident, $5,000,000 in aggregate, and in form and with
companies as are required to be carried by Tenant as set forth in Article 26 of the Lease. 
 5.2. General. The minimum limits
of the policies of insurance required to be obtained in accordance with the foregoing shall in no event limit the liability of Tenant under this Workletter or the Lease. Certificates for all insurance required to be carried pursuant to
Section 5.1 above shall be delivered to Landlord before the commencement of construction of the Work. In the event the Work is damaged by any cause during the course of the construction thereof, Tenant shall immediately repair the same
at Tenant’s sole cost and expense. All of the foregoing insurance coverage shall be maintained in force until the Work is fully completed and accepted by Landlord, except for any products and completed operation coverage insurance required by
Landlord, which is to be maintained for two (2) years following completion of the Work and acceptance by Landlord and Tenant. All of the foregoing insurance, except Worker’s Compensation, shall preclude subrogation claims by the insurer
against anyone insured thereunder. If any party required to obtain insurance pursuant to Section 5.1 above shall fail to obtain or maintain said insurance coverage in accordance with the terms of this Workletter or if 
  

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 such party fails to pay premiums for the same when due, Landlord may obtain such insurance coverage or pay such premiums,
and all costs incurred and amounts paid by Landlord in connection therewith shall be reimbursed by Tenant to Landlord on demand. 
 6.
Improvement Allowance. 
 6.1. Amount and Permitted Uses. Landlord shall provide to Tenant an allowance (the
“Improvement Allowance”) in order to assist Tenant in financing the cost of the Work. The Improvement Allowance shall be an amount equal to *** Dollars ($***). The Improvement Allowance shall be disbursed by Landlord only for the following
items and costs: (i) fees payable to the architect and engineers engaged by Tenant in connection with the design of the Work, which architect and engineer have been approved by Landlord; (ii) permit and license fees for construction of the
Work; (iii) costs of construction of the Work; (iv) costs incurred and amounts paid by Landlord in connection with the Work; and (v) the Coordination Fee payable to Landlord in accordance with Section 7.3 of this
Workletter. Landlord shall have no obligation to advance any portion of the Improvement Allowance until: (1) Landlord has approved the Final Plans, Tenant’s Contractor and all subcontractors for the Work; and (2) Landlord has received
from Tenant the insurance policies, the cost breakdown, the mechanics’ and materialmen’s lien releases, schedules, payment and performance bonds, and the security to ensure the lien-free completion of the Work, all required to be delivered
by Tenant in accordance with the terms of this Workletter. 
 6.2. Disbursement. In order to receive disbursement of the Improvement
Allowance, Tenant shall deliver to Landlord: (i) a request for disbursement in form approved by Landlord; (ii) copies of the invoices for which reimbursement is being sought; (iii) a statement from Tenant’s Contractor showing the
schedule, by trade, of the percentage of completion of the Work, detailing the portion of the Work completed and the portion not completed, in such detail as is reasonably acceptable to Landlord; (iv) mechanics’ and materialmen’s lien
releases for the Premises and the Building from Tenant’s Contractor, all subcontractors and all materials suppliers for all work, labor, services and materials for which reimbursement is being sought, which lien releases shall be in form
satisfactory to Landlord; and (v) all other information reasonably requested by Landlord with respect to the Work and the costs for which reimbursement is being sought. Provided that: (1) the foregoing information is delivered to Landlord;
(2) the Work for which reimbursement is being sought has been completed in accordance with the Final Plans approved by Landlord; (3) the Work for which reimbursement is being sought has been physically incorporated into the Premises, free
of any security interest, lien or encumbrance; and (4) Landlord does not dispute any request for payment based on Tenant’s non-compliance with any term of this Workletter or the Lease, then Landlord shall deliver a check to Tenant made
jointly payable to Tenant and Tenant’s Contractor for the Work in an amount equal to the amount set forth in Tenant’s subject request. No such payment by Landlord shall be deemed Landlord’s approval or acceptance of the Work furnished
or materials supplied as are described in any request for disbursement of the Improvement Allowance submitted by Tenant. Landlord shall have no obligation to make more than one disbursement of the Improvement Allowance in any calendar month.

 6.3. Retainage. Notwithstanding anything to the contrary set forth above in this Section, Landlord shall: (i) have the right
to withhold as a retainage ten percent (10%) of 
  

 B-6 

 each disbursement of the Improvement Allowance until all of the Work has been completed; (ii) not be required to
disburse pursuant to this Workletter any amount in excess of the Improvement Allowance; and (iii) have the right to apply portions of the Improvement Allowance to costs and expenses incurred by Landlord in connection with the Work and to the
coordination fee payable by Tenant to Landlord in connection with the Work. In the event Landlord elects to withhold any portion of the Improvement Allowance in accordance with item (i) above, a check for the amount withheld made payable
jointly to Tenant and Tenant’s Contractor for the Work shall be delivered by Landlord to Tenant following completion of construction of the Work provided that: (1) Tenant delivers to Landlord executed mechanics’ and materialmen’s
lien releases for the Premises and the Building from Tenant’s Contractor, all subcontractors and all materials suppliers for all work, labor and services performed and all materials furnished in connection with the Work, which lien releases
shall be in form satisfactory to Landlord; (2) Landlord does not dispute any request for payment based on Tenant’s non-compliance with any term of this Workletter or the Lease; and (3) Tenant’s architect and engineer for the Work
delivers to Landlord a certificate, in form reasonably satisfactory to Landlord, certifying that the Work has been fully completed in accordance with the plans and specifications for the same approved by Landlord. 
 6.4. Unused Portion. Tenant shall not be entitled to any credit for any portion of the Improvement Allowance which is not disbursed by Landlord in
payment of costs and expenses incurred by Tenant in connection with the Work. 
 7. Miscellaneous. 
 7.1. Authorized Representatives. Tenant hereby designates Scott Plank (“Tenant’s Representative”) as its sole representative with
respect to the matters set forth in this Workletter, who shall have full authority and responsibility to act on behalf of Tenant with respect to matters pertaining to this Workletter including, without limitation, the grant of approvals and
execution of documents on behalf of Tenant. Landlord shall have the right to rely on action taken by Tenant’s Representative. Tenant may change Tenant’s Representative by delivering notice to Landlord. Landlord hereby designates Mark
Fischer of Transwestern Commercial Services (“Landlord’s Representative”) as its sole representative with respect to the matters set forth in this Workletter, who shall have full authority and responsibility to act on behalf of
Landlord with respect to matters pertaining to this Workletter, including, without limitation, the grant of approvals and execution of documents on behalf of Landlord. Tenant shall have the right to rely on action taken by Landlord’s
Representative. Landlord can change Landlord’s Representative by delivering notice to Tenant. 
 7.2. Reimbursement of
Landlord’s Costs. Tenant shall reimburse Landlord upon demand for all costs and expenses incurred by Landlord in connection with matters pertaining to this Workletter (including, without limitation, the cost of any utilities and services
furnished to the Premises or furnished for the benefit of or consumed by Tenant’s Contractor or subcontractors in the course of performing Work in the Premises, personnel costs associated with the provision of additional security, the use of
loading docks and elevators and the review of the Plans); provided, however, that Tenant shall not be charged for use during normal business hours of the Building elevators during construction of the Work or during Tenant’s actual move into the
Premises. 
  

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 7.3. Coordination Fee. Tenant shall pay a coordination fee (the “Coordination Fee”) to
Landlord in an amount equal to *** percent (***%) of the sum of all amounts expended by Tenant in connection with the design and construction of the Work, which Coordination Fee shall be for services relating to Landlord’s coordination of
construction of the Work with other activities in the Building. 
 7.4. Indemnification. Tenant’s indemnity of Landlord as set
forth in Article 27 of the Lease shall also apply with respect to any and all costs, losses, damages, claims and liabilities related in any way to any act or omission of Tenant or Tenant’s Contractor, or anyone directly or indirectly
employed by any of them, or in connection with Tenant’s nonpayment of any amount arising out of the Work. 
 7.5. Liens. Tenant
has no authority or power to cause or permit any lien or encumbrance of any kind whatsoever, whether created by act of Tenant, operation of Law or otherwise, to attach to or be placed upon Landlord’s title or interest in the Premises, Building
or underlying land, and any and all liens and encumbrances created by Tenant shall attach to Tenant’s interest only. Landlord’s approval of any Plans shall not be deemed to constitute Landlord’s consent to subject its interest in the
Premises, the Building or the Real Property to any mechanic’s or materialman’s lien which may be filed in connection therewith. Landlord shall have the right at all times to post and keep posted on the Premises any notice which it deems
necessary for protection from such liens. Tenant covenants and agrees not to suffer or permit any lien of mechanics or materialmen or others to be placed upon Landlord’s interest in the Premises, Building or underlying land, or any petition to
establish the same to be filed, with respect to work or services claimed to have been performed for or materials claimed to have been furnished to Tenant or the Premises, and, in case of any recordation or attachment such lien or filing of such
petition, Tenant covenants and agrees to cause the same to be immediately released and removed of record or dismissed. In the event that such lien is not released and removed, or such petition is not dismissed, within ten (10) days after such
lien, notice thereof or petition is filed, Landlord, at its sole option, may take all action necessary to release and remove such lien or dismissed such petition (without any duty to investigate the validity thereof) and Tenant shall promptly upon
notice reimburse Landlord for all sums, costs and expenses (including attorneys’ fees), incurred by Landlord in connection with such lien or petition, including without limitation, the procurement of a bond for the same. 
 7.6. Defaults. Tenant’s failure to pay any amounts owed by Tenant hereunder or Tenant’s failure to perform its other obligations
hereunder shall also constitute a default under the Lease, and with respect thereto Landlord shall have all the rights and remedies granted to Landlord under the Lease for nonpayment of any amounts owed thereunder or failure by Tenant to perform its
other obligations thereunder. All amounts payable by Tenant to Landlord under this Workletter shall be deemed additional rent payable under the Lease. Notwithstanding anything to the contrary set forth in this Workletter or in the Lease, if Tenant
fails to observe or perform any term, condition or provision of this Workletter or the Lease to be observed or performed by Tenant, then (i) in addition to all other rights and remedies granted to Landlord under the Lease, Landlord shall have
the right to withhold payment of all or any portion of the Improvement Allowance and/or Landlord may cause Tenant’s Contractor to cease the construction of the Work (in which case Landlord shall have no responsibility for any delay in the
substantial completion of the Work caused by such work stoppage), and (ii) all other 
  

 B-8 

 obligations of Landlord under this Workletter or the Lease shall be tolled until such time as the subject default is
cured (in which case Landlord shall have no responsibility for any delay in the substantial completion of the Work resulting therefrom). Further, in the event the subject matter of non-compliance may affect any structural aspect of the Building, the
exterior appearance of the Premises or the Building, or the mechanical, electrical, plumbing, HVAC or any other system of the Building, Landlord may, at Tenant’s expense, take such action as Landlord deems necessary to address the subject
matter without incurring any liability on Landlord’s part. 
 7.7. Meetings. Commencing on the date of the Lease, Tenant shall
hold weekly meetings at a reasonable time with Tenant’s architect and engineers and the Contractor regarding the progress of the preparation of the Plans and the construction of the Work, which meetings shall be held at the Premises or such
other location as is approved by Landlord. Tenant shall deliver reasonable prior notice of each such meeting to Landlord, and Landlord and/or its agents shall have the right to attend all such meetings. 
 7.8. Time of Essence. Time is of the essence of this Workletter. 
 7.9. Application to Initial Premises Only. This Workletter shall not be deemed applicable to any space added to the original Premises at any time or from time to time, whether by any option under the Lease or
otherwise. This Workletter shall not apply to any portion of the original Premises or any additions thereto in the event of a renewal or extension of the original term of the Lease, whether by any option under the Lease or otherwise. 
 7.10. Notices. All notices required or desired to be given, rendered or made by either party to the other under this Workletter shall be delivered
in accordance with the terms of the Lease. 
 7.11. *** 
  

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 EXHIBIT C 
 SUBSTANTIAL COMPLETION/ACCEPTANCE CERTIFICATE 
 This Certificate is made pursuant to that Lease dated as of
                    ,         , between “Landlord”, and
                                , as “Tenant”, for
                     square feet in the Building located at
                                     (the “Lease”).

 In accordance with the terms and conditions of the above referenced Lease, Tenant accepts possession of the Premises, and Landlord and
Tenant agree: 
 1. The Commencement Date of the Term of the Lease is
                    ; and 
 2.
The Termination Date of the Term of the Lease is                     . 
 The capitalized terms used above, unless otherwise defined herein, shall have the respective meanings ascribed to them in the Lease. 
 Landlord and Tenant have executed and delivered this Certificate under seal as of
                    ,         . 
  

			
	LANDLORD
	
	 ___________________________________________________
 a__________________________________________________

		
	By:	 	___________________________________(SEAL)
	Print Name:	 	__________________________________________
	Its:	 	__________________________________________
	
	TENANT
	
	__________________________________________________,
	a_________________________________________________
		
	By:	 	___________________________________(SEAL)
	Print Name:	 	__________________________________________
	Its:	 	__________________________________________

  

 C-1 

 EXHIBIT D 
 RULES AND REGULATIONS 
 1. Tenant will not place any signs on the Building or the Property without Landlord’s prior
consent. All signage must comply with all applicable laws, codes and regulations, including, without limitation, zoning and building codes. No advertisements, pictures or signs of any sort may be displayed on or outside the Premises without the
prior consent of Landlord. This prohibition includes any portable signs or vehicles placed within the parking lot, common areas or on streets adjacent thereto for the purpose of advertising or display. Landlord has the right to remove any such
unapproved item without notice and at Tenant’s expense. 
 2. Tenant may not park or store motor vehicles, trailers or containers outside the Premises
after the conclusion of normal daily business activity except in approved areas specifically designated by Landlord. 
 3. All window coverings and window
films or coatings installed by Tenant and visible from outside of the Building require the prior approval of Landlord. Except for dock shelters and seals as may be expressly permitted by Landlord, no awnings or other projections may be attached to
the outside walls of the Building. 
 4. Tenant may not use, keep or permit to be used or kept any foul or noxious gas or substance on, in or around the
Premises unless approved by Landlord. Tenant may not use, keep or permit to be used or kept any flammable or combustible materials without proper governmental permits and approvals. 
 5. Tenant may not use, keep or permit to be used or kept food or other edible materials in or around the Premises in such a manner as to attract rodents, vermin or other pests. Tenant may not permit cooking in or
about the Premises other than in microwave ovens. 
 6. Tenant may not use or permit the use of the Premises for lodging or sleeping, for public assembly, or
for any illegal or immoral purpose. 
 7. Tenant may not alter any lock or install any new locks or bolts on any door at the Premises without the prior
consent of Landlord. Tenant agrees not to make any duplicate keys without the prior consent of Landlord. 
 8. Tenant will park motor vehicles only in those
general parking areas as designated by Landlord except for active loading and unloading. During loading and unloading of vehicles or containers, Tenant will not unreasonably interfere with traffic flow within the Property and loading and unloading
areas of other tenants. 
 9. Storage of propane tanks, whether interior or exterior, will be in secure and protected storage enclosures approved by the
local fire department and, if exterior, shall be located in areas specifically designated by Landlord. Safety equipment, including eye wash stations and approved neutralizing agents, will be provided in areas used for the maintenance and charging of
lead-acid batteries. Tenant will protect electrical panels and building mechanical equipment from damage from forklift trucks. 
  

 D-1 

 10. Tenant will not disturb, solicit or canvas any occupant of the Building or Property and will cooperate to prevent
same. 
 11. No person may go on the roof of the Building without Landlord’s permission except to perform obligations under its lease. 
 12. No animals (other than seeing eye dogs) or birds of any kind may be brought into or kept in or about the Premises. 
 13. Machinery, equipment and apparatus belonging to Tenant which cause noise or vibration that may be transmitted to the structure of the Building to such a degree as to
be objectionable to Landlord or other tenants or to cause harm to the Building will be placed and maintained by Tenant, at Tenant’s expense, on vibration eliminators or other devices sufficient to eliminate the transmission of such noise and
vibration. Tenant will cease using any such machinery which causes objectionable noise and vibration which can not be sufficiently mitigated. 
 14. All
goods, including material used to store goods, delivered to the Premises of Tenant will be immediately moved into the Premises and will not be left in parking or exterior loading areas overnight. 
 15. Tractor trailers which must be unhooked or parked with dolly wheels beyond the concrete loading areas must use steel plates or wood blocks of sufficient size to
prevent damage to the asphalt paving surfaces. No parking or storing of such trailers will be permitted in the auto parking areas of the industrial park or on streets adjacent thereto. 
 16. Forklifts which operate on asphalt paving areas may not have solid rubber tires and may use only tires that do not damage the asphalt. 
 17. Tenant will be responsible for the safe storage and removal of all pallets. Pallets will be stored behind screened enclosures at locations approved by the Landlord. 
 18. Tenant will be responsible for the safe storage and removal of all trash and refuse. All such trash and refuse will be contained in suitable receptacles stored
behind screened enclosures at locations approved by Landlord. Landlord reserves the right to remove, at Tenant’s expense and without further notice, any trash or refuse left elsewhere outside of the Premises or on the Property. 
 19. Tenant may not store or permit the storage or placement of goods or merchandise in or around the common areas surrounding the Premises. No displays or sales of
merchandise is allowed in the parking lots or other common areas. 
 20. Tenant will appoint an Emergency Coordinator who shall be responsible for assuring
notification of the local fire department in the event of an emergency, assuring that sprinkler valves are kept open and implementing the Factory Mutual “Red Tag Alert” system including weekly visual inspection of all sprinkler system
valves on or within the Premises. Tenant will provide Landlord access to fire protection and any related communications equipment in the Premises at all times. 
  

 D-2 

 EXHIBIT E 
 NON-DISTURBANCE, ATTORNMENT, 
 ESTOPPEL AND SUBORDINATION AGREEMENT 
 THIS NON-DISTURBANCE, ATTORNMENT, ESTOPPEL AND SUBORDINATION AGREEMENT (this “Agreement”) is made and entered into as of October
    , 2006, by, between and among WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association as Administrative and Collateral Agent (the “Agent” or “Beneficiary”) for certain Lenders
who are or become parties who become parties to that certain Credit Agreement dated June 5, 2006 (the “Credit Agreement”) by and among such Lenders and the Lessor, UNDER ARMOUR, INC., a Maryland corporation (“Lessee”), and
MARLEY NECK 3R, LLC, a Delaware limited liability company (“Lessor”). 
 R E C I T A L S: 
 A. Lenders are the owners and holders, or expect to be the owners and holders, of certain Promissory Note dated or expected to be dated as of
June 5, 2006, (the “Notes”) in the aggregate principal sum of One Hundred Seventy Million And No/100 Dollars ($170,000,000.00), secured by a Deed of Trust; Security Agreement; and Assignment of Leases and Rents (the
“Mortgage”) and an Assignment of Leases and Rents (the “Assignment of Rents”), each of even date with the Note, which Mortgage constitutes a lien or encumbrance on that certain real property more particularly described in the
attached Exhibit A (the “Property”). 
 B. Lessee is the holder of a leasehold estate covering a portion of the building known as
1040 Swan Creek Drive, Baltimore, Maryland (the “Building”) existing on the Property (the “Leased Premises”) pursuant to the terms of that certain lease dated on or about the date of the Agreement, and executed by Lessee and
Lessor (the “Lease”). The Lessor has succeeded or will succeed to the interest of the Original Lessor under the Lease. A copy of the Lease, certified as true and correct by Lessee, has previously been delivered to Beneficiary and has not
been amended, modified or terminated as of the date hereof. 
 C. Lessee, Lessor and Beneficiary in its capacity as Collateral Agent and
Administrative Agent under the Credit Agreement desire to confirm their understanding with respect to the Lease, the Mortgage and the Assignment of Rents. 
 AGREEMENT 
 1. So long as Lessee is not in default (beyond any period given Lessee to cure such
default) in the payment of rent or in the performance of any of the terms, covenants or conditions of the Lease on Lessee’s part to be performed, Lessee’s possession and occupancy of the Leased Premises shall not be interfered with or
disturbed by Beneficiary during the term of the Lease or any extension thereof duly exercised by Lessee. 
 2. Lessee hereby consents to the
assignment by Lessor to Beneficiary of the Lease, as set forth in the Mortgage and the Assignment of Rents. If the interest of Lessor shall be transferred to and/or owned by Beneficiary by reason of judicial foreclosure, power-of-sale 
  

 E-1 

 foreclosure or other proceedings brought by Beneficiary, or by any other manner, including, but not limited to, the
institution of a receiver for the Property or Beneficiary’s exercise of its rights under the Assignment of Rents, Lessee shall be bound to Beneficiary under all of the terms, covenants and conditions of the Lease for the balance of the
remaining term thereof and any extension thereof duly exercised by Lessee, with the same force and effect as if Beneficiary were the Lessor under the Lease, and Lessee does hereby attorn to Beneficiary as its Lessor, said attornment to be effective
and self-operative without the execution of any further instruments on the part of any of the parties hereto immediately upon Beneficiary’s succeeding to the interest of the Lessor under the Lease; provided, however, that Lessee shall be under
no obligation to direct its payment of rent to Beneficiary until Lessee receives written notice from Beneficiary to do so. The respective rights and obligations of Lessee and Beneficiary upon such attornment, to the extent of the then remaining
balance of the term of the Lease and any such extension, shall be and are the same as now set forth therein, as modified hereby, it being the intention of the parties hereto for this purpose to incorporate the Lease in this Agreement by reference
with the same force and effect as if set forth in full herein. 
 3. If Beneficiary shall succeed to the interest of the Lessor under the
Lease, Beneficiary shall, subject to the last sentence of this Section 3, be bound to Lessee under all of the terms, covenants and conditions of the Lease; provided, however, that Beneficiary shall not be: 
 (a) Liable for any act or omission of any prior lessor (including Lessor) or for any monetary damages incurred by Lessee in connection therewith or liable
for any act or omission prior to Beneficiary’s succession to title; or 
 (b) Subject to any offsets, defenses or counterclaims which
Lessee might have against any prior lessor (including Lessor) or accruing prior to Beneficiary’s succession to title; or 
 (c) Bound by
any rent, additional rent or advance rent which Lessee might have paid for more than the current month to any prior lessor (including Lessor) or prior to Beneficiary’s succession to title and all such rent shall remain due and owing
notwithstanding such advance payment; or 
 (d) Bound by any amendment or modification of the Lease made without its consent and written
approval; or 
 (e) Required to restore any damage to or destruction of the Building or the Leased Premises or otherwise perform the
obligations of Lessor under the Lease in the event of a foreclosure of the Mortgage or acceptance by Beneficiary of a deed in lieu of foreclosure, in either instance prior to full restoration of such damage or destruction. 
 (f) Neither Agent, nor any other party who, from time to time, shall be included in the definition of the term “Beneficiary” hereunder shall
have any liability or responsibility under or pursuant to the terms of this Agreement after it ceases to own a fee interest in or to the Property. 
  

 E-2 

 4. Subject to the terms of this Agreement (including, but not limited to, those in Sections 1 and 2
hereof), the Lease and the terms thereof are, and shall at all times continue to be, subject and subordinate, in each and every respect, to the Mortgage and the terms thereof, and to any and all renewals, modifications, extensions, substitutions,
replacements and/or consolidations of the Mortgage. Nothing herein contained shall be deemed or construed as limiting or restricting the enforcement by Beneficiary of any of the terms, covenants, provisions or remedies of the Mortgage or the
Assignment of Rents, whether or not consistent with the Lease. 
 5. The term “Beneficiary” shall be deemed to include Wells Fargo
Bank, National Association, and all of its successors and assigns as Agent, including anyone who shall have succeeded to Lessor’s interest by, through or under judicial or power-of-sale foreclosure or other proceedings brought pursuant to the
Mortgage, or deed in lieu of such foreclosure or proceedings, or otherwise. 
 6. Lessee represents and warrants to Lender as follows:

 (a) Lessee’s Leased Premises comprises 308,220 rentable square feet. 
 (b) Lessee has no options to renew or extend the term of the Lease, except as follows (if None, insert “None”): See Section 2.2 in Lease.

 (c) Lessee has no expansions, rights of first refusal, or rights of first offer except as follows (if None, insert “None”):
None. 
 (d) The Lease is in full force and effect. 
 (e) Lessee claims no present charge, lien or claim of offset against rent. 
 (f) Lessee’s percentage
share of operating expenses and real estate taxes is 100%. 
 (g) There are no existing defaults under the Lease by reason of any act or
omission of the Landlord Parties, nor does there exist any condition or has there occurred or failed to occur any event or act, including without limitation, the construction of any tenant improvements or any construction or furnishing or other
physical work on or with respect to the Leased Premises or the building in which the Leased Premises are located, which with the giving of notice and/or the passage of time without cure will become a default under the Lease by any act or omission of
the Landlord Parties except as follows (if None, insert “None”): None. 
 (h) The Lease and all amendments, other agreements,
understandings or commitments or interpretations or other agreements between Lessee and Landlord Parties which relate to the Lease or the Leased Premises, consist of the following, a copy of each of which is attached hereto: 
 i) Industrial Lease Agreement dated on or about the date of this Agreement by and between Lessee and Lessor. 
  

 E-3 

 (i) Lessee has no right of first refusal or option to purchase the building or any portion thereof.

 (j) Lessee has not received any written notice indicating a violation of any environmental law or regulation which affects the Leased
Premises. 
 (k) Lessee has not received any written notice of any brokerage commissions which will be due and payable to any person, firm or
corporation or other entity with respect to or on account of the Lease, other than as described in Section 45 of the Lease. 
 (l) The
undersigned is duly authorized and fully qualified to execute this instrument on behalf of Lessee. 
 7. In the absence of the prior written
consent of Beneficiary, Lessee agrees not to do any of the following: (a) prepay rent under the Lease for more than one (1) month in advance, (b) enter into any agreement with the Lessor to amend or modify the Lease,
(c) voluntarily surrender the Leased Premises or terminate the Lease prior to the expiration date thereof set forth in the Lease, and (d) sublease all or any part of the Leased Premises or assign all or any part of the Lessee’s
interest in the Lease. 
 8. In the event Lessor shall fail to perform or observe any of the terms, conditions or agreements in the Lease,
Lessee shall give written notice thereof to Beneficiary and Beneficiary shall have the right (but not the obligation) to cure such failure. Lessee shall not take any action with respect to such failure under the Lease, including, without limitation,
any action in order to terminate, rescind or avoid the Lease or to withhold any rent thereunder, for a period of thirty (30) days after receipt of such written notice by Beneficiary; provided, however, that in the case of any default which
cannot with diligence be cured within said 30-day period, if Beneficiary shall proceed promptly to cure such failure and thereafter prosecute the curing of such failure with diligence and continuity, the time within which such failure may be cured
shall be extended for such period as may be necessary to complete the curing of such failure with diligence and continuity. 
 9. So long as
the Note is outstanding, Lessee covenants to provide Beneficiary with all information, including, but not limited to evidence of payment of taxes and insurance (if Lessee is obligated for such payments under the Lease) to which the Lessor may be
entitled under the Lease. 
 10. So long as the Note is outstanding, Beneficiary or its designee may enter upon the Property at all
reasonable times to visit or inspect the Property to the extent the Lessor has the right to do so under the Lease. Lessor agrees that the Beneficiary may discuss with the Lessee the affairs, finances and accounts of Lessee applicable to the Property
or the Lease at such reasonable times as Beneficiary or its designee may request. 
 11. Lessee hereby represents and warrants that the Lease
and this Agreement have been duly authorized, executed and delivered by Lessee and constitute legal, valid and binding instruments, enforceable against Lessee in accordance with their respective terms, except as such terms may be limited by
bankruptcy, insolvency or similar laws affecting creditors’ rights generally. 
  

 E-4 

 12. This Agreement may not be modified orally or in any other manner than by an agreement in writing
signed by the parties hereto and their respective successors in interest. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their successor and assigns. In the event of a conflict between the provisions of this
Agreement and the provisions of the Lease, the provisions of this Agreement shall control. 
 13. This Agreement may be executed in several
counterparts, and all so executed shall constitute one agreement, binding on all parties hereto, notwithstanding that all parties are not signatories to the original or the same counterpart. 
 14. All notices or other communications required or permitted to be given pursuant to the provisions hereof shall be in writing and shall be considered
as properly given if mailed by first class United States mail, postage prepaid, registered or certified with return receipt requested, or by delivering same in person to the intended addressee, or by delivery by recognized overnight delivery carrier
which requires a receipt upon delivery. All notices shall be effective only upon delivery or failure of delivery due to refusal to accept delivery or the failure of the addressee to be present at the address set forth below or a different address if
notice of change is given pursuant to this Section 14. For purposes of notice, the addresses of the parties shall be: 
  

			
	Lessor:	  	Marley Neck 3R, LLC
		  	c/o ASB Capital Management LLC
		  	7501 Wisconsin Avenue
		  	Suite 200E
		  	Bethesda, Maryland 20814
		  	Attn: Mandi Wedin
		
	With a copy to:	  	Transwestern Commercial Services
		  	6700 Alexander Bell Drive
		  	Suite 350
		  	Columbia, Maryland 21046
		  	Attn: Mary Frances Costantino
		
	Lessee:	  	Under Armour, Inc.
		  	1020 Hull Street
		  	Baltimore, Maryland 21230
		  	Attn: J. Scott Plank
		
	With copies to:	  	Under Armour, Inc.
		  	1020 Hull Street
		  	Baltimore, Maryland 21230
		  	Attn: Kevin Haley, General Counsel
		
		  	and

  

 E-5 

			
		  	WilmerHale
		  	100 Light Street
		  	Baltimore, Maryland 21202
		  	Attn: Mark Pollak, Esq.
		
	Beneficiary:	  	Wells Fargo Bank, National Association
		  	c/o Real Estate Group
		  	Suite 400
		  	1750 H Street NW
		  	Washington, D.C. 20006
		  	Attention: Manager, Loan Administration Department
		
	With a copy to:	  	Wells Fargo Bank, N.A.
		  	Real Estate Group
		  	6th Floor
		  	420 Montgomery Street
		  	San Francisco, California 94111
		  	Attention: Chief Credit Officer, Real Estate Group

 provided, however, that any party shall have the right to change its address for notice hereunder to any other
location within the continental United States by the giving of thirty (30) days’ notice to the other parties in the manner set forth hereinabove. 
 [SIGNATURES ON THE FOLLOWING PAGE] 
  

 E-6 

 IN WITNESS WHEREOF, Lessee has executed this Agreement, or has caused it to be executed on its behalf as
of the date first above written by                             , its
                                . 
  

	
	LESSEE:
	
	 UNDER ARMOUR, INC.,
 a Maryland
corporation

	
	By: ______________________________[SEAL]
	Print Name:_____________________________
	Its:____________________________________

                                       
                       ) ss: 
 I, a
Notary Public in and for the aforesaid jurisdiction, do hereby certify that                     , who is personally well known to me as, or
satisfactorily proven to be, the person named as
                                        
of Under Armour, Inc., in the foregoing Non-Disturbance, Attornment, Estoppel and Subordination Agreement bearing date as of October     , 2006, personally appeared before me in the said jurisdiction, and acknowledged the
same to be the act and deed of said organization, and delivered the same as such. 
 GIVEN under my hand and official seal this
                     day of October, 2006. 
  

	
	  
 Notary
Public

 [SIGNATURES CONTINUED ON NEXT PAGE] 
  

 E-7 

 IN WITNESS WHEREOF, the Lessor has executed this Agreement, or has caused it to be executed on its behalf
as of the date first above written by Swan Creek Associates, LLC, a Delaware limited liability company, its sole member, who has caused this Agreement to be signed on its behalf by EBREF Holding Company, LLC, its sole member. 
  

					
	 LESSOR:
  
 MARLEY NECK 3R, LLC,
 a Delaware limited liability company

		
	By:	 	 ASB Capital Management, LLC,
 a Maryland
limited liability company,
 its agent

			
		 	By:	 	_________________________[SEAL]
		 		 	Mandi L. Wedin
		 		 	Vice President

 DISTRICT OF COLUMBIA ) ss: 
 I, a Notary Public in and for the aforesaid jurisdiction, do hereby certify that Mandi L. Wedin, who is personally well known to me as, or satisfactorily proven to be, the person named as Vice President of ASB Capital
Management, LLC, a Maryland limited liability company, the agent of Marley Neck 3R, LLC, a Delaware limited liability company, in the foregoing Non-Disturbance, Attornment, Estoppel and Subordination Agreement bearing date as of October __, 2006,
personally appeared before me in the said jurisdiction, and acknowledged the same to be the act and deed of said organization, and delivered the same as such. 
 GIVEN under my hand and official seal this                      day of October, 2006. 
  

	
	  
 Notary
Public

 My Commission Expires:
                             
 [SIGNATURES CONTINUED ON NEXT PAGE] 
  

 E-8 

 IN WITNESS WHEREOF, Beneficiary has caused this Agreement to be executed on its behalf as of the date
first above written by                                     ,
its Vice President. 
  

			
	BENEFICIARY:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 DISTRICT OF COLUMBIA ) ss: 
 I, a Notary Public in and for the aforesaid jurisdiction, do hereby certify that
                            , who is personally well known to me as, or satisfactorily proven to be,
the person named as Vice President of Wells Fargo Bank, National Association in the foregoing Non-Disturbance, Attornment, Estoppel and Subordination Agreement bearing date as of October __, 2006, personally appeared before me in the said
jurisdiction, and by virtue of the authority vested in him by said Agreement, acknowledged the same to be the act and deed of Wells Fargo Bank, National Association, and delivered the same as such. 
 GIVEN under my hand and official seal this
                     day of October, 2006. 
  

	
	  
 Notary
Public

 My Commission Expires:
                                 
  

 E-9 

 EXHIBIT A TO NON-DISTURBANCE, ATTORNMENT, 
 ESTOPPEL AND SUBORDINATION AGREEMENT 
 BEING
KNOWN AND DESIGNATED as Lots Nos. 3RR and 4R as shown on Plat entitled “ADMINISTRATIVE PLAT LOT 3RR, A RESUBDIVISION OF LOT 3R, MARLEY NECK INDUSTRIAL PARK”, which Plat is recorded among the Land records of Anne Arundel County, Maryland in
Plat Book No. 247, Plats Nos. 12879 and 12880. 
  

 E-10

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