Document:

Exhibit

Exhibit 10.3

FIRST AMENDMENT  TO LEASE AGREEMENT

1bis First Amendment to Lease Agreement (this "First Amendment") is made and entered into by and between LIFE SCIENCE PLAZA INVESTMENT GROUP, LP, a Delaware limited partnership ("Landlord"), as successor-in-interest to Sheridan Hills Developments L.P. ("Original Landlord"), and BELLICUM PHARMACEUTICALS, INC., a Delaware corporation ("Tenant"), effective on and as of the date on which the Landlord executes this First Amendment as set forth on the signature page hereto (the "Effective Date").

W I T N E S S E T H

WHEREAS, Landlord and Tenant are parties to that certain Lease Agreement originally entered into by and between Original Landlord and Tenant, dated as of May 6,  2015 (the "Lease"), pursuant to which Tenant currently leases certain premises containing approximately 26,817 square feet of Net Rentable Area (the "Original Leased Premises"), which consists of 25,304 square feet of Net Rentable Area of  Manufacturing  Space designated as Suite 500, 705 square feet of Net Rentable Area of Interior Mechanical Space  on the fourth (4'h) floor, and 808 square feet of Net Rentable Area of Exterior Mechanical Space on the fifth (5th) floor, all in the building commonly known as Life Science Plaza, located at 2130 West Holcombe Boulevard, Houston, Texas (the "Building"), all as more particularly described in the Lease;

WHEREAS, Landlord has succeeded to all of the rights, interests and obligations of Original Landlord under the Lease; and

WHEREAS, Landlord and Tenant now desire to expand the Original Leased  Premises and further amend the Lease as more particularly described hereinbelow.

NOW, THEREFORE, for and in consideration of  the  premises  contained  herein, and other good and valuable consideration paid by each of Landlord  and Tenant  to  the other, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree that the Lease is hereby ratified and amended as follows:

1.          Definitions. All capitalized  terms  used  herein  shall have  the  same mearung  as  defined in the Lease, unless otherwise defined in this First Amendment.

2.Expansion Space.  Effective  on  and  as  of  July  11,  2016  (the  "Expansion  Date"), the Original Leased Premises  shall be  expanded  to include  (i)  that  certain  3,075  square  feet  of Net Rentable Area in the  penthouse  of  the  Building  (the  "Expansion  Manufacturing  Space"), and (ii) that certain 253 square  feet  of  Net  Rentable  Area  of  interior  mechanical  space on the first (1st) floor of the Building  (the "Expansion  Interior  Mechanical  Space"), as more particularly set forth on Exhibit A attached  hereto  and  incorporated  herein  for  all purposes  (the  Expansion  Manufacturing  Space  and  the  Expansion  Interior   Mechanical Space, collectively, the "Expansion Space"), for a term that is co-terminous  with  the  existing Term of the Lease (e.g., August 31, 2020). Landlord  and Tenant  acknowledge  and  agree  that there is certain Building equipment currently  located  in  the  Expansion  Manufacturing  Space that  will   need   to  be  relocated   in  order   for  the  Tenant   Improvements   to  be   constructed.

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Tenant shall, at Tenant's sole cost and expense, relocate such existing Building equipment from the Expansion Manufacturing Space to a location reasonably designated by Landlord (the "Relocation Work"). Tenant shall use commercially reasonable efforts to diligently complete the Relocation Work promptly following the Effective  Date.

3.Confirmation of Leased Premises. Effective as of the Expansion Date, Landlord and Tenant hereby stipulate and agree that the term "Leased Premises"  shall  consist  of 30,145 square feet of Net Rentable Area in the Building, and shall consist of both  the  Original Leased Premises and the Expansion Space.

4.Condition   of   the   Expansion   Space.     Tenant   hereby   agrees   to   accept the Expansion Space  from  Landlord  in  its  existing  "AS-IS,"  "WHERE-IS" and  "WITH ALL FAULTS"  condition,  and  Landlord  shall  have  no  obligation  whatsoever  to refurbish or otherwise improve the Expansion Space at any time during the Term of the  Lease.  Tenant shall,  at  Tenant's  sole  cost  and  expense,  construct  the  Tenant Improvements (defined in Exhibit B) in accordance with Exhibit B attached hereto and complete the Relocation Work (defined  above).

5.Term. Section 2.A of the Lease is hereby deleted in its entirety and the following substituted in lieu thereof:

"A. The term of this Lease Agreement  (the "Term")  shall commence  on September  1, 2015 (the "Commencement Date") and, unless sooner terminated  or  renewed  and extended in accordance with  the terms  and conditions  set forth herein,  shall expire at   11:59
p.m. on August 31, 2026 (the "Expiration Date")."

6.Leasehold Improvements in the Original Leased Premises. Exhibit G attached to the Lease is hereby deleted in its entirety and replaced with the modified Exhibit  G attached hereto. Landlord and Tenant acknowledge and agree that Landlord was originally obligated to construct the Original Leasehold Improvements (as defined in Exhibit G), however Tenant now desires to manage and oversee the construction of the Original  Leasehold Improvements (construction of which has not  yet  commenced)  in  accordance with the terms and provisions  of Exhibit G attached hereto.

7.Base Rent for the Original Leased Premises. Tenant shall pay Base Rent for the Original Leased Premises in accordance with the existing terms and provisions of the Lease, provided that Base Rent for the Original Leased Premises for months 61 through 132 of the Term shall be payable as follows:

		
	(a)
	The Manufacturing  Space Base Rent for months  61 -132 shall be:

	
				
	Months following the Commencement Date
	Annual Rate/SF
	Annual Base Rent
	Monthly Installments

	61-72
	$36.50
	$923,596.00
	$79,966.33

	73 - 84
	$37.80
	$956,491.20
	$79,707.60

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	85 - 96
	$39.10
	$989,386.40
	$82,448.87

	97 - 108
	$40.50
	$1,024,812.00
	$85,401.00

	109 - 120
	$41.90
	$1,060,237.60
	$88,353.13

	121- 132
	$43.35
	$1,096,888.00
	$91,407.33

		
	(b)
	The  Interior  Mechanical  Space Base  Rent  for months  61 through  132 shall

be:

	
				
	Months following the Commencement Date
	Annual Rate/SF
	Annual Base Rent
	Monthly Installments

	61 - 72
	$26.50
	$18,682.50
	$1,556.88

	73 - 84
	$27.80
	$19,599.00
	$1,633.25

	85 - 96
	$29.10
	$20,515.50
	$1,709.63

	97 -108
	$30.50
	$21,502.50
	$1,791.88

	109 - 120
	$31.90
	$22,489.50
	$1,874.13

	121 - 132
	$33.35
	$23,512.00
	$1,959.33

		
	(c)
	The Exterior  Mechanical  Space Base  Rent  for months  61 through  132 shall

be:
	
				
	Months following the Commencement Date
	Annual Rate/SF
	Annual Base Rent
	Monthly Installments

	    61 - 120
	$8.00
	$6,464.50
	$538.67

	   121 - 132
	$9.00
	$7,272.00
	$606.00

8.Base  Rent for the  Expansion  Space.  Tenant  shall continue  to pay Base Rent for the Original Leased Premises in accordance  with  the  existing  terms  and provisions  of the Lease  applicable  thereto;  as  amended  herein;  provided,   however,   commencing   on the Expansion  Date  (as  defined  above)  and  continuing  throughout  the  Term  of  the Lease,  in addition  to  the  Base  Rent  payable  for  the  Original  Leased  Premises,  Tenant shall also pay Base Rent for the Expansion Space as  follows:

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	Period
	Annual Rate/SF
	Annual Base Rent
	Monthly Installments

	Expansion Date -August 31, 2016
	$20.75
	$69,056.00
	$5,754.67

	September 1, 2016 -August 31, 2017
	$21.80
	$72,550.00
	$6,045.83

	September 1, 2017 -August  31, 2018
	$22.95
	$76,378.00
	$6,364.83

	September 1, 2018 -August 31, 2019
	$24.10
	$80,205.00
	$6,683.75

	September  1, 2019 -August  31, 2020
	$25.30
	$84,198.00
	$7,016.50

	September 1, 2020 -August 31, 2021
	$26.50
	$88,192.00
	$7,349.33

	September 1, 2021 -August  31, 2022
	$27.80
	$92,518.00
	$7,709.83

	September 1, 2022 -August  31, 2023
	$29.10
	$96,845.00
	$8,070.42

	September 1, 2023 -August 31, 2024
	$30.50
	$101,504.00
	$8,458.67

	September  1, 2024 -August  31, 2025
	$31.90
	$106,163.00
	$8,846.92

	September 1, 2025 -August 31, 2026
	$33.35
	$110,989.00
	$9,249.08

9.Renewal Option. Section 50 of the Lease is deleted in its entirety and the following substituted in lieu thereof:

"SEC.   50  RENEWAL   OPTION.     Tenant   shall  have,  and  is  hereby  granted the option (the "Renewal Option")  to  extend  the  term  of  this  Lease  Agreement  for  one (1) additional period of five (5) years (the "Extended Term") upon and subject to the  following terms, conditions and provisions:

(a)    The Renewal Option may only be exercised by Tenant giving irrevocable written notice (the "Renewal Option Notice") thereof to Landlord no later than twelve (12) months and one (1) day prior to the expiration of the Term.  If Tenant fails to give Landlord  the Renewal Option Notice within such specified time period, Tenant shall be  deemed  to  have elected not to exercise, and to have waived, the Renewal Option, which shall be of no further force or effect. It is expressly agreed that Tenant shall not have the option to extend  the Term of this Lease Agreement beyond the Extended Term. If Tenant exercises the Renewal Option, such Extended Term shall commence immediately upon the expiration of  the Term (the "Extended Term Commencement Date").  Notwithstanding  any  provision herein to the contrary, Tenant shall not have the right to extend the Term of this Lease Agreement pursuant to this Section 50 and such right shall automatically terminate and be of no further force and effect if, at the time Tenant exercises such Renewal Option or on the Extended Term Commencement Date, an Event of Default then exists under this Lease Agreement.  Tenant  shall not have the right to assign the Renewal Options to any sublessee

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or assignee of the Leased Premises other than a Permitted Transferee, nor may any such sublessee or assignee (other than a Permitted Transferee) exercise  the  Renewal  Option unless in connection with an assignment of Tenant's entire interest in this Lease   Agreement.

(b)    If Tenant exercises the Renewal Option (in accordance with  and subject to  the provisions of this Section 50), the Extended  Term  shall be  upon, and  subject  to, all of the terms, covenants and conditions provided in this Lease Agreement except for any terms, covenants and conditions that are expressly or by their nature inapplicable to the Extended Term (including, without limitation, the right to renew the Term of this Lease Agreement beyond the Extended Term) and except that (i) the Leased Premises and all leasehold improvements relating thereto will be provided in the condition they exist (i.e., "AS IS" and "WITH ALL FAULTS") on the Extended Term Commencement Date, and this Lease Agreement shall be deemed to have automatically amended as of the Extended Term Commencement Date in accordance with this Section 50, (ii) Tenant and Landlord shall promptly (but in no event longer than fifteen (15) days after Landlord's submissions of the amendment to Tenant) execute and deliver an appropriate amendment of this Lease Agreement to evidence such terms as will apply following commencement of the Extended Term, and (iii) the annual Base Rent during the Extended Term shall be as  follows:

		
	(i)
	The Manufacturing Space Base Rent for the Extended Term shall  be:

	
				
	Months following the commencement of the Extended Term
	Annual Rate/SF
	Annual Base Rent
	Monthly Installments

	1- 12
	$44.65
	$1,129,794.00
	$94,149.50

	13 - 24
	$45.99
	$1,163,688.00
	$96,974.00

	25 - 36
	$47.37
	$1,198,599.00
	$99,883.25

	37 - 48
	$48.79
	$1,234,557.00
	$102,879.75

	49 - 60
	$50.25
	$1,217,594.00
	$105,966.17

		
	(ii)
	The  Interior  Mechanical  Space  Base  Rent  for  the  Extended  Term

shall be:

	
				
	Months following the commencement of the Extended Term
	Annual Rate/SF
	Annual Base Rent
	Monthly Installments

	1 - 12
	$34.65
	$24,427.00
	$2,035.58

	13 - 24
	$35.99
	$25,372.00
	$2,114.33

	25 - 36
	$37.37
	$26,344.00
	$2,195.33

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	37 - 48
	$38.79
	$27,346.00
	$2,278.83

	49 - 60
	$40.25
	$28,378.00
	$2,364.83

		
	(iii)
	The Expansion Space Base Rent for the Extended Term shall   be:

	
				
	Months following the commencement of the Extended Term
	Annual Rate/SF
	Annual Base Rent
	Monthly Installments

	1 - 12
	$34.65
	$115,311.00
	$9,609.25

	13 - 24
	$35.99
	$119,769.00
	$9,983.00

	25 - 36
	$37.37
	$124,361.00
	$10,363.42

	37 - 48
	$38.79
	$129,090.00
	$10,757.50

	49 - 60
	$40.25
	$133,961.00
	$11,163.42

		
	(iv)
	The  Exterior  Mechanical  Space  Base  Rent  for  the  Extended Term

shall be:

	
				
	Months following the commencement of the Extended Term
	Annual Rate/SF
	Annual Base Rent
	Monthly Installments

	1 - 60
	$9.00
	$7,272.00
	$606.00

10.Net  Rentable Area in Building.   Due to  certain modifications  in the Building  and as contemplated by Section 6.A of the Lease, and notwithstanding anything to the  contrary in the Lease, as of the Expansion Date, the Building shall contain 341,181 square   feet of Net Rentable Area for all purposes under the  Lease.

11.Additional Rent. Tenant shall continue to pay all items of Additional Rent for the Original Leased Premises in accordance with the terms and provisions  of  the  Lease applicable thereto. Commencing from and after the Expansion Date, Tenant shall also pay Additional Rent for the Expansion Space, including, without limitation, Tenant's pro  rata share of Operating Expenses, and, notwithstanding anything to the contrary in the Lease, "Tenant's pro rata share" for the Leased Premises shall be 8.5987% (equal to 29,337 square feet of Net Rentable Area in the Leased Premises (excluding the 808 sf Exterior Mechanical Space)/341,181 square feet of Net Rentable Area in the Building) for all purposes under the Lease.

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	12.
	Services and Utilities to Manufacturing Space and Expansion Space.

(a)          Landlord and Tenant agree and acknowledge that Landlord is currently providing all of the Required Services (defined in Section 7 of the Lease) for the Original Leased Premises in accordance with the terms and provisions  of  the Lease,  and Landlord shall continue to provide the Required Services throughout the Term of the Lease in accordance with the terms of the Lease.  Currently, Landlord  does not, and is not obligated  to, provide any of the Required Services to the Expansion Space; provided, however, that Landlord will provide the Required Services to the Expansion Space upon Tenant designing, installing, connecting, and upgrading (if necessary) a system which ties the Expansion Space to the Building systems (at Tenant's sole cost). Additionally, Tenant intends to engage in manufacturing operations in the Expansion Space, and  such  manufacturing  operations require supplemental electrical and chilled water service significantly in excess of that currently provided (or required to be provided) by Landlord. Landlord has agreed to permit Tenant to perform the necessary upgrades, all at Tenant's sole cost and expense, 1n accordance,vith the terms of this Section 12, and Tenant shall have the right  to:

(i)       connect and expand the existing main switchboard in the fourth (4'h) floor main electrical room to add additional sections to the existing main switchboard (the "Main Switchboard Additions") as may be necessary to enable up to 2000 amps of electrical service for Tenant's use and operations in the Manufacturing Space, and to install electrical submeters, wiring, risers, transformers and electrical panels determined by  Tenant  as necessary or desirable to enable such connection of the electrical facilities in the Manufacturing Space to said existing branch bus riser, the specific locations of which  shall  be subject to Landlord's reasonable approval; and if any changes to the existing Centerpoint transformer are required as a result of Tenant's installation of  the  Main  S,vitchboard Additions and delivery of the electrical service required by Tenant, then Tenant shall also be solely responsible for all costs related thereto; and

(ii)      connect the electrical facilities for the Expansion Space  to  the  existing branch bus riser located on the tenth (10th) and/or eleventh (11th) floors of the Building and to install electrical submeters, wiring, risers, transformers and electrical panels determined by Tenant as necessary or desirable to enable such connection of the electrical facilities in the Expansion Space to said existing branch bus riser, the specific locations of which shall be subject to Landlord's reasonable  approval.

(b)      Tenant has represented to Landlord that it shall require approximately  400 tons of standard chilled water in the aggregate for air conditioning, heating and ventilation of the Manufacturing Space and the Expansion Space. Currently, Landlord is capable of only providing approximately 87.86 tons of the Building's current chilled water capacity (the "Current Capacity") to the Manufacturing Space in the Original Leased Premises.  Tenant  shall be solely responsible for adding chilled water capability above the Current Capacity being provided by Landlord, and Tenant shall have the right to install, at Tenant's  sole cost,  an additional chiller (or chillers, if more than one chiller is approved by Landlord) with a capacity of up to 350 tons in total and related pumps, piping and equipment (collectively the "Additional Chiller and Equipment") to service the Manufacturing Space  in  the  Original Lease Premises and the Expansion Space. Landlord and Tenant agree to use good  faith  efforts to determine  a mutually agreeable location for the Additional Chiller and Equipment

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and Landlord shall use its best efforts to locate the Additional Chiller and Equipment in the vicinity of the Building's existing water chillers; provided, however, Landlord shall ultimately have the right to designate the location of the Additional Chiller  and  Equipment  in Landlord's sole but reasonable discretion. Tenant shall be required  to  integrate  the Additional Chiller and Equipment, at Tenant's expense, into the Building's existing chilled water system in a manner and using systems, equipment, manufacturers, and other specifications determined and designated by Landlord in its sole but reasonable discretion. Landlord agrees to deliver the Current Capacity chilled water generated by the Additional Chiller and Equipment to the Manufacturing Space of the Original Lease Premises only. Tenant agrees that Landlord shall only be obligated to deliver the Current Capacity and the chilled water actually generated by the Additional Chiller and Equipment as designed and installed by Tenant, and Landlord shall not be liable for any shortage of chilled water generated by the Additional Chiller and Equipment unless such shortage is a result of Landlord's failure to maintain and repair the Additional Chiller and Equipment as required hereunder (and in the event Landlord is liable, then Tenant's remedies therefor shall be governed by Section 7(C) of the Original Lease). Tenant shall be solely responsible for all costs related to routing the chilled water to the Expansion Space.  Tenant,  at  Tenant's expense, shall be allowed to tap existing chilled water horizontal feeds at the northeast limits of the fifth (5th) floor of the Building for the chilled water needs of the Manufacturing Space and the Expansion Space. Upon such installation and integration, the Additional Chiller and Equipment shall be owned and maintained by Landlord and  the  repair  and maintenance  costs thereof shall be paid by Tenant as Additional Rent; provided,  however,  in no  event shall Landlord be responsible for replacing the Additional Chiller and Equipment, including, without limitation, replacement due to the Additional Chiller  and  Equipment  being  at the end of its useful life, unless such replacement is necessitated by Landlord's failure to repair and maintain the Additional Chiller and Equipment  as required hereunder.  All work related to the Additional Chiller and Equipment  shall be  performed  by DPR  Construction  and/or its subcontractors.

(c)    Landlord acknowledges and agrees that during the Term (including any extension thereof), Tenant shall be entitled to capitalize the cost  of the Additional  Chiller  and Equipment and the Main Switchboard Additions and shall be entitled to amortize or depreciate the cost of any Additional Chiller and Equipment and the Main Switchboard Additions in accordance with generally accepted accounting standards.

(d)      Tenant shall submit detailed plans, drawings, and specifications  relating to  the Main Switchboard Additions and the Additional Chiller and Equipment to Landlord for Landlord's written approval prior to commencing any such work. Tenant acknowledges and agrees that the Main Switchboard Additions and the Additional Chiller and Equipment are significant upgrades that affect Building systems and could impact other tenants in the Building. Therefore, Landlord shall have the right to withhold its approval to any proposed plans, drawings or specifications, or any portion thereof, relating to the Main Switchboard Additions and Additional Chiller and Equipment in  Landlord's  sole  but  reasonable discretion. Landlord shall use commercially reasonable efforts to review Tenant's proposed plans and approve the plans or provide written comments within fifteen (15) days. Landlord also reserves the right to require Tenant to provide more specific information and/ or details regarding Tenant's proposed plans. Tenant shall have the right to commence work in connection with the Main Switchboard Additions  and the Additional Chiller and Equipment

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only after receiving Landlord's written approval to the respective plans relating thereto. The Main Switchboard Additions and the Additional Chiller and Equipment work shall (i) utilize Landlord's Building-standard materials and methods of construction, (ii) be compatible with the shell and core improvements and the design, construction and equipment of  the  Expansion Space and the Original Leased Premises, (iii) comply with all applicable laws, rules, regulations, codes and ordinances, and (iv) shall, except as otherwise expressly  provided in this Section 12, be subject to the terms and conditions set forth in Section 10  of  the Lease. Tenant's contract with the contractor performing  the  Additional  Chiller  Equipment and Main Switchboard Additions work shall name Landlord as a beneficiary of (and a party entitled to enforce) all of the warranties  of the Tenant's contractor with respect  to the work performed thereunder and the obligation of the Tenant's contractor to replace defective materials and correct defective workmanship for a period of not less than one (1) year following final completion of the work under such contract. Tenant shall reimburse Landlord, within twenty (20) days after the date Landlord invoices Tenant therefor, for all reasonable, out-of-pocket costs of Landlord, including, without limitation, fees paid to third party consultants, relating to the monitoring, review and approval of the Main Switchboard Additions and the Additional Chiller and  Equipment.

(e)      Landlord has not made, and disclaims, any representations to  Tenant regarding the feasibility of the installation of the Main Switchboard Additions or the Additional Chiller and Equipment. Subject to Landlord's obligation to  maintain  the Additional Chiller and Equipment as set forth in Section 12(b) above, Landlord shall not be responsible for any failure, interruption, or diminution of the upgraded electrical and chilled water service provided by the Main Switchboard Additions or the Additional Chiller and Equipment. In addition, Tenant agrees that Landlord is  making  a  substantial  accommodation to Tenant by permitting upgrades that could affect  existing  Building  systems. Accordingly, Tenant hereby agrees to indemnify, protect, defend and hold harmless Landlord and its designated property management company, all of their respective officers, employees, representatives, insurers and agents (collectively, "Landlord Indemnitees") for, from and against all liabilities, claims, fines, penalties, costs, damages or injuries to persons, damages to property, losses, liens, causes of action, suits, judgments and expenses (including court costs, attorneys' fees, expert witness fees and costs of investigation),  of  any nature,  kind or description of any person or entity, directly or indirectly arising out of, caused by, or resulting from (in whole or part) Tenant's construction, installation, or replacement of  the Main Switchboard Additions and the Additional Chiller and Equipment; EVEN IF SUCH LIABILITIES ARE CAUSED SOLELY  OR  IN  PART  BY  THE  NEGLIGENCE  OF ANY  LANDLORD  INDEMNITEE,  BUT  NOT  TO  THE  EXTENT  SUCH LIABILITIES ARE CAUSED BY THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF ANY SUCH LANDLORD INDEMNITEE. This Section 12(e) shall survive the expiration or earlier termination of the Lease.

		
	13.
	Security   Deposit.     Tenant   has   heretofore   delivered   to  Landlord   the   sum of

$76,460.98 (the "Existing Security Deposit"), and Tenant shall, concurrently with the execution of this First Amendment, deliver to Landlord an additional amount of $7,016.54  (the "Additional Security Deposit"), which Additional Security Deposit shall be added to the Existing Security Deposit for a total of $83,477.52, in the aggregate, which amount shall be held as and in accordance with the terms applicable to the "Security Deposit" under Section 4 of the Lease.

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14.Parking. Tenant shall continue to have its parking rights as set forth in the Lease in accordance with the terms and provisions applicable thereto, including, without limitation, Exhibit C of the Lease; provided, however, from and after the Expansion Date, subject to availability and upon thirty (30) days' prior written notice to Landlord, Tenant shall have the right to lease an additional eight (8) unreserved parking spaces, of which one (1) may be converted to a reserved parking space, at the applicable rates set forth in Exhibit C of the Lease.

15.Balance Owed to Landlord. Tenant shall, within  ten  (10)  days following  the Effective Date, pay to DPR Construction all amounts owed under that certain  construction contract (including any change orders thereto) dated November 16,  2015  for  work  which includes moving the construction management office to the fourth (4'h) floor. Tenant also acknowledges and agrees that the five  percent  (5%)  construction  management  fee  payable under Exhibit G to that certain Lease Agreement by and between  Landlord  and Tenant  dated June 1, 2012, shall be paid to Landlord (or Landlord's designated payee) within ten  (10)  days after  the  date  Landlord  invoices  Tenant therefor.

16.Brokers. Landlord and Tenant each warrants and represents  to the other that each  has had no dealings with any broker or agent in connection with  the  negotiation  or  execution of this First Amendment, and Landlord and Tenant agree to indemnify  and hold  the other harmless  from and against any and all costs, expenses or liability for commissions  or other compensations or charges claimed by any broker or agent, claiming by, through, or under such indemnifying party with respect to this First  Amendment.

		
	17.
	Miscellaneous.

(a)      Amendment to Lease. The parties acknowledge and agree that the Lease has not been amended or modified in any respect, other than  by  this  First  Amendment,  and there are no other agreements of any kind currently in force and effect between the   parties.

(b)      Counterparts. For the convenience of the parties  any  number  of  counterparts  hereof may be executed, and each such executed counterpart  shall be deemed  an original, and all such counterparts together shall constitute one and the same instrument. Facsimile or .PDF transmission of an executed counterpart of this First Amendment shall be deemed to constitute  due and sufficient  delivery  of such counterpart,  and such facsimile   or
.PDF signatures shall be deemed original signatures for purposes of enforcement and construction  of this First Amendment.

(c)      Entire Agreement. The Lease, as amended by this  First Amendment,  sets forth all covenants, agreements and understandings among the parties with respect to the subject matter hereof and there are no other covenants, conditions or understandings, either written or oral, between the parties hereto except as set forth in the Lease and this First Amendment.

(d)      Full Force  and  Effect.   Except  as  expressly  amended  hereby,  all other items and provisions of the Lease remain unchanged and continue to be in full force and effect.

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(e)       Conflicts. The terms of this First Amendment  shall  control  over  any conflicts between the terms of the Lease and the terms of this   First Amendment.

(f)        Authority  of  Tenant.   Tenant  warrants  and represents  unto  Landlord  that (i) Tenant has full  right  and  authority  to  execute,  deliver  and perform  this  First Amendment; and (ii) the person executing this First Amendment was authorized to do   so.

(g)           Capitalized Terms. Capitalized terms not defined herein shall have the same meanings attached to such terms under the  Lease.

(h)       Successors and Assigns. This First Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors   and assigns.

(i)      Governing Law. This First Amendment shall be governed  by, and construed in accordance with, the laws of the State of Texas, with venue in connection with any legal action thereunder  being in Harris County, Texas.

[SIGNATURE PAGE TO FOLLOW]

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SIGNATURE PAGE TO FIRST  AMENDMENT TO LEASE AGREEMENT
BY AND BETWEEN LIFE SCIBNCE PLAZA INVESTMENT GROUP, LP, AS LANDLORD, AND l3ELLICUM PHARMACEUTICALS,  INC., AS TENANT

IN WITNESS WHEREOF, Landlord and Tenant, acting herein by duly authorized individuals, have caused these presents to be executed as of the Effective Date  set forth herein.

LANDLORD:

LIFE SCIENCE PLAZA INVESTMENT GROUP, LP,
a Delaware  limited partnership,

By:    Life Science Plaza GP, Inc.,
a Delaware corporation, its general partner

   By: /s/Samuel DePoy, Secretary 

   Date: July 11, 2016

TENANT:

     BELLICUM PHARMACEUTICALS, INC., 
     a Delaware corporation

By:    /s/ Thomas J. Farrell
   Name: Thomas J. Farrell
   Title: President & CEO
 
   Date: July 11, 2016
          

[End of signatures]

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EXHIBIT A EXPANSION SPACE:

(a) Expansion Manufacturing Space
    

(b) Expansion Interior Mechanical Space

                                         

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EXHIBIT B 
WORK  LETTER

1.    Work  by Tenant.   Tenant  shall cause to be  constructed  and/or installed,  at Tenant's sole cost and expense, in the Expansion Space the permanent leasehold improvements and tenant finish desired by Tenant and approved by Landlord, which approval shall not be unreasonably withheld, conditioned, or delayed  (the  "Tenant  Improvements").  The leasehold construction shall be performed pursuant to a cost-plus contract, subject to Landlord's reasonable approval, entered into by Tenant with DPR Construction as  the  general contractor. Landlord and Tenant acknowledge and agree that Landlord has no obligation to construct any improvements in the Expansion Space, provide any allowance in connection with the Tenant Improvements, or prepare  the  Expansion  Space  for  Tenant's  use or occupancy in any way, it being understood Tenant shall be solely responsible for performing and paying for all such improvements  and work

2.Planning and Construction.

(a)Landlord and Tenant shall cooperate in good faith in the planning and construction    of    the    Tenant    Improvements.    Tenant    shall    engage    Landlord's mechanical/ electrical/plumbing and/or structural engineering consultants as Tenant's consultants, and Tenant shall reimburse Landlord for its reasonable, out-of-pocket  third­ party fee charges for review of Tenant's plans and documents by the consultants so   engaged.

Tenant, at its sole cost and expense, shall cause its architect and engineers (for purposes of this Exhibit B, the "Design Professionals") to prepare a set of space plans (for purposes of this Exhibit B, the "Proposed Space Plans") for the Tenant Improvements and submit the same to Landlord for its review and approval within fourteen (14) days following the Effective Date. Within ten (10) business days after delivery of the Proposed Space Plans  to Landlord, Landlord shall either approve the Proposed Space Plans or notify Tenant of the item(s) of the Proposed Space Plans that Landlord disapproves and the reason(s) therefor; provided, however, Landlord shall not unreasonably withhold or delay its approval of the Proposed Space Plans so long as Tenant shall not make (i) any structural alterations, improvements or additions to the Expansion Space, or (ii) any alterations, improvements or additions to the Expansion Space which, (a) will adversely impact the Building's mechanical, electrical or heating, ventilation or air conditioning systems, or (b) will adversely impact the structure of the Building, or (c) are visible from the exterior of the Expansion Space, or (d) which will result in the penetration or puncturing of the roof or floor  (and  consent  or approval for items in romanette (i) and (ii) above shall be in the Landlord's sole and absolute discretion). If Landlord disapproves the Proposed Space Plans, Tenant shall  cause  the  Design Professionals to revise and resubmit same to Landlord for approval within seven (7) business days (for purposes of this Exhibit B, the "Revised Space Plans"). Within seven (7) business days after delivery of the Revised Space Plans to Landlord, Landlord shall either approve the Revised Space Plans or notify Tenant of the item(s) of the Revised Space Plans which Landlord disapproves and  the  reason(s)  therefor.  If Landlord  disapproves  the Revised Space Plans, Tenant shall cause the Design Professionals to further revise and resubmit same to Landlord for approval within seven (7) business days, which process shall continue until the plans are approved. Landlord shall have seven (7) business days after delivery  of  each set of Revised  Space Plans  to either approve  the Revised  Space Plans   or

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notify Tenant of the item(s) of the Revised Space Plats which Landlord disapproves and the reason(s) therefor. The Proposed Space Plans or Revised Space Plans, as approved by Landlord, are hereinafter referred to in this Exhibit B as the "Space   Plans".

(b)Upon Landlord's approval of the Space Plans, Tenant, at Tenant's sole cost and expense, shall cause the Design Professionals to prepare construction drawings (in accordance with the Space Plans) and specifications including complete sets of detailed architectural, structural, mechanical, electrical and plumbing working drawings (for purposes of this Exhibit B, the "Proposed Construction Drawings") for the Tenant Improvements and shall deliver the Proposed Construction Drawings to Landlord for approval (which approval shall not be unreasonably withheld, conditioned  or  delayed  unless  the Proposed Construction Drawings affect (i) any structural alterations, improvements or additions to the Expansion Space, or (ii) any alterations, improvements  or additions  to the Expansion Space which (a) will adversely impact  the  Building's  mechanical, electrical or heating, ventilation or air conditioning systems, or  (b)  will  adversely  impact the structure of the Building, or (c) are visible  from  the  exterior  of  the Expansion Space, or  (d) which will  result  in the penetration  or puncturing  of  the  roof or floor). Within ten (10) business days after delivery of the Proposed Construction Drawings to Landlord, Landlord shall either approve the  Proposed  Construction Drawings or notify Tenant of the item(s) of the Proposed Construction Drawings that Landlord disapproves and the  reason(s)  therefor.  If  Landlord  disapproves  the Proposed Construction Drawings, Tenant  shall  cause  the  Design  Professionals  to  revise and resubmit same to Landlord for approval within seven (7) business days (for purposes of this Exhibit B, the "Revised Construction Drawings"). Within seven (7) business days after delivery of the Revised Construction Drawings  to  Landlord,  Landlord shall either approve the Revised Construction  Drawings  or  notify Tenant  of the item(s) of the Revised Construction Drawings which Landlord disapproves and the reason(s) therefor. If Landlord  disapproves  the  Revised  Construction  Drawings, Tenant shall cause the Design Professionals to further revise and resubmit the same to Landlord for approval within seven (7) business days, which process shall continue until the plans are approved. Landlord shall have seven (7) business  days after delivery  of  each set of Revised Construction Drawings to either approve the Revised Construction Drawings or notify Tenant of the item(s) of the Revised Construction Drawings which Landlord disapproves  and  the  reason(s)  therefor.  The  Proposed  Construction Drawings or Revised Construction Drawings, as approved by Landlord, are hereinafter referred  to in this Exhibit B as the "Construction   Drawings".

3.Quality of Work. Tenant shall supervise the construction of  the  Tenant Improvements in conformance with the Construction Drawings and  shall use  its  diligent good faith, efforts to cause the same to be constructed and installed in a good and  workmanlike manner in accordance with good industry  practice.

		
	4.
	Intentionally Deleted.

		
	5.
	Intentionally Deleted.

		
	6.
	Disclaimer of Warranty.   TENANT ACKNOWLEDGES THAT THE INSTALLATION OF THE TENANT

        

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IMPROVEMENTS WILL BE PERFORMED BY AN UNAFFILIATED CONTRACTOR OR CONTRACTORS AND THAT ACCORDINGLY LANDLORD HAS NOT MADE AND WILL NOT MAKE  ANY WARRANTIES TO TENANT WITH RESPECT TO THE QUALITY OF CONSTRUCTION THEREOF OR AS TO THE CONDITION OF THE EXPANSION SPACE, EITHER EXPRESS OF IMPLIED, AND THAT LANDLORD EXPRESSLY DISCLAIMS ANY IMPLIED WARRANTY THAT THE EXPANSION SPACE IS OR WILL BE SUITABLE FOR TENANT'S INTENDED COMMERCIAL PURPOSE. AS SET FORTH IN SECTION 27 OF THE LEASE, TENANT'S OBLIGATION TO PAY BASE AND ADDITIONAL RENT  HEREUNDER  IS NOT DEPENDENT UPON THE CONDITION  OF  THE  EXPANSION  SPACE OR THE BUILDING OR PERFORMANCE BY LANDLORD OF ITS OBLIGATIONS HEREUNDER, AND TENANT SHALL CONTINUE TO PAY THE BASE AND ADDITIONAL  RENT  WITHOUT  ABATEMENT,  SETOFF, OR DEDUCTION. ANY APPROVAL GIVEN BY LANDLORD WITH RESPECT TO TENANT'S CONSTRUCTION OR THE SPACE PLANS OR CONSTRUCTION DRAWINGS  THEREFOR,  AND/OR  ANY  MONITORING OF TENANT'S WORK BY LANDLORD, SHALL NOT MAKE LANDLORD LIABLE OR RESPONSIBLE IN ANY WAY FOR THE CONDITION, QUALITY OR FUNCTION OF SUCH MATTERS OR CONSTITUTE  ANY  UNDERTAKING, WARRANTY OR REPRESENTATION BY  LANDLORD WITH RESPECT TO ANY OF SUCH MATTERS. NOTWITHSTANDING ANY BREACH BY LANDLORD OF ITS DUTIES OR OBLIGATIONS HEREUNDER, WHETHER  EXPRESS  OR IMPLIED,  EXCEPT  AS  OTHERWISE PROVIDED
IN THE LEASE. However, Landlord agrees that in the event any  defect  in  the construction of the Tenant Improvements are discovered, Tenant may seek to enforce any warranties of the contractor(s) and/or the manufacturer of any defective  materials incorporated therein.

7.Cost of Tenant Improvements. Notwithstanding anything to  the  contrary  in  this First Amendment or the Lease, Landlord has no obligation to pay for any portion of  the Tenant Improvements or for the planning,  design  or review  of  the Tenant  Improvements, and all such costs shall be solely borne by Tenant. Prior to the commencement of any construction of the Tenant Improvements or, as applicable, Tenant's contractor  performing any change order work, Tenant shall in escrow, pursuant to an escrow agreement in substantially the form attached hereto as Addendum 1 (the "Escrow Agreement") signed by Tenant, Landlord and Escrow Agent (as defined in the Escrow Agreement), as security for payment, one hundred ten percent (110%) of the budget (as set forth in the construction contract between Tenant and its general contractor) for the total costs related to and for constructing the Tenant Improvements (or implement the change order, if applicable) (such estimated cost, the "Work Cost" and the amount held in escrow  under  the  Escrow Agreement, the "Work Deposit"). No more frequently than once per month, Tenant shall invoice Landlord for the portion of the Work Cost expended by Tenant. Landlord shall  submit a draw request to Escrow Agent to pay the invoiced amount from the Work Deposit held by Escrow Agent within ten (10) business days thereafter; provided,  however,  Landlord's draw request to the Escrow Agent shall be made after each and all  of  the  following conditions shall have been satisfied: (i) the Tenant Improvements (or applicable portion  thereof)  shall have been  completed in accordance with  the Construction   Drawings;

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(ii) Tenant shall have delivered to Landlord satisfactory evidence that all mechanics' lien rights of all contractors, suppliers, subcontractors, or materialmen furnishing labor, supplies or materials in the construction or installation of the Tenant Improvements (or applicable portion thereof) have been unconditionally waived, released, or extinguished; (iii) Tenant shall have delivered to Landlord paid receipts or other written evidence satisfactorily substantiating the actual amount of the construction costs of the Tenant Improvements (or applicable portion thereof); and (iv) Tenant shall not then be in default of any of the provisions of the Lease. Tenant shall authorize Landlord to draw on the Work Deposit for the invoiced amount (plus any costs incurred by Landlord as a result of the draw), provided that the remaining amount of the Work Deposit shall at all times be at least one hundred ten percent (110%) of the then-projected Work Cost not yet expended. If Tenant pays the invoiced amount without requesting Landlord to make a draw upon the Work Deposit, Landlord shall approve a reduction in the amount of the Work Deposit, to an amount equal to one hundred ten percent (110%) of the then-projected Work Cost not yet expended.

8.Construction Management Fee.  Tenant acknowledges  and agrees to pay Landlord, or Landlord's designated representative or entity, a construction management fee equal to two percent (2%) of the total costs and expenses of the Tenant  Improvements, excluding "soft" costs incurred by Tenant, such as Tenant's interior architect  and  third-party consultants  retained  directly  by  Tenant,  as  well  as Landlord's out-of-pocket costs to engage non-ordinary, third-party consultants  for purposes of reviewing and monitoring Tenant's obligations under this Exhibit B. Such construction  management  fee  shall  be paid for by Tenant and included in the Work Cost, and may be deducted from the escrow provided    for   in   the   preceding  paragraph;   provided,   however,   the   construction management fee shall actually be paid to Landlord's designated representative or entity.

9.Builder's Risk Insurance. Landlord shall cause the general contractor to obtain and maintain Builder's Risk insurance on an "all risk" basis and on a completed value form including a Permission to Complete and Occupy endorsement, for full replacement value of, the Tenant Improvements, such policy naming Landlord and Tenant as additional insureds. The cost of such insurance  shall be paid for by Tenant and included in the Work  Cost.

10.No Liens; Indemnification. Tenant shall have  no  authority  to place  any lien upon  the Expansion Space, or the Building, or any portion thereof or interest therein, nor shall Tenant have any authority in any way to bind Landlord, and any attempt to  do  so shall be void and of no effect. If, because of any actual or alleged act or omission of Tenant, or its contractor, or any subcontractors or materialmen, any lien, affidavit, charge or order for the payment of money shall be filed against Landlord, the Expansion Space, the Building, or any portion thereof or interest therein, whether or not such lien, affidavit, charge  or  order  is  valid or enforceable, Tenant shall, at its sole cost and expense, cause the same to be  discharged of record by payment, bonding or otherwise no later than fifteen (15) days after notice to Tenant of the filing thereof, but in any event prior to the foreclosure thereof. With respect to the contract for labor or materials for construction of the Tenant Improvements, Tenant acts as principal and not as the agent of Landlord. Landlord expressly disclaims  liability for the cost of labor performed for or supplies or materials furnished to Tenant. Landlord may post one or more "notices of non-responsibility" for Tenant's work on the Building. No contractor of Tenant is intended to be a third-party beneficiary with respect to the Work  Deposit,  or the agreement  of Landlord  to make  such Work Deposit  available for

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payment of or reimbursement for the costs of construction of the Tenant Improvements. Tenant agrees to indemnify, defend and hold Landlord, the Expansion Space  and  the  Building, harmless from all claims (including all costs and expenses of defending against such claims) arising or alleged to arise from any act or omission of Tenant or Tenant's agents, employees, contractor, subcontractors, suppliers, materialmen,  architects,  designers, surveyors, engineers, consultants, laborers, or invitees, or arising from any bodily injury or property damage occurring or alleged to have occurred incident to any of the work to be performed by Tenant or its contractors or subcontractors with respect  to  the  Expansion Space. Any default by Tenant under this Exhibit B shall constitute a default by Tenant under the Lease for all purposes.

11.General Requirements. All of Tenant's construction with respect to the Expansion Space shall be performed in substantial compliance with this Exhibit B and the Construction Drawings therefor previously approved in writing by Landlord (and any changes thereto approved by Landlord as herein provided), utilizing only new materials. All such work shall  be performed by Tenant in strict compliance with all applicable building codes, regulations  and all other legal requirements. All materials utilized in the construction of Tenant's work must be confined to within the Expansion Space. All trash  and  construction  debris  not located wholly within the Expansion  Space must be removed  each day from the Buildings  and its appurtenant areas at the sole cost and expense of Tenant.  Landlord  shall have  the  right at all times to monitor the work for compliance with the requirements of this Exhibit B.  If Landlord determines that any such requirements are not being strictly complied with, Landlord may immediately require the cessation of  all work being performed  in or around  the Expansion Space or the Building until such time as Landlord is satisfied that  the  applicable requirements will be observed. Tenant specifically agrees to carry, or cause the contractor to carry, during all such times as the Tenant's work is being performed, insurance  in compliance with Landlord's  then-current insurance  standards.

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EXHIBIT G
ORIGINAL LEASEHOLD IMPROVEMENTS

1. Work by  Tenant.  Tenant  shall  cause  to  be  constructed  and/or  installed  in  the Original Leased Premises the permanent leasehold improvements  and tenant  finish  desired by Tenant and approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed (the "Original Leasehold Improvements"). The Original Leasehold Improvements shall be performed by DPR Construction (pursuant to a cost plus contract entered into by Tenant and DPR Construction which is reasonably approved by   Landlord).

2.Planning  and Construction.

(a)Landlord and Tenant shall cooperate in good faith in the planning and construction of  the Original   Leasehold  Improvements. Tenant  shall  engage  Landlord's mechanical/ electrical/ plumbing and/or structural engineering consultants as Tenant's consultants, and Tenant shall reimburse Landlord for its reasonable, out-of-pocket  third­ party fee charges for review of Tenant's plans and documents by the consultants so   engaged.

Tenant, at its sole cost and expense, shall cause its architect and engineers (for purposes of this Exhibit G, the "Design Professionals") to prepare a set of space plans (for purposes of this Exhibit G, the "Proposed Space Plans") for the Original Leasehold Improvements  and submit the same to Landlord  for its review and approval within   fourteen (14) days following the Effective Date. Within ten (10) business days after delivery of the Proposed Space Plans to Landlord, Landlord shall either approve the Proposed  Space Plans  or notify Tenant of the item(s) of the Proposed Space Plans that Landlord  disapproves  and  the reason(s) therefor; provided, however, Landlord shall not  unreasonably  withhold  or  delay its approval of the Proposed Space Plans so long as Tenant shall not make (i) any structural alterations, improvements or additions to the Original Leased Premises, or (ii) any alterations, improvements or additions to the Original Leased Premises which, (a) will adversely impact the Building's mechanical, electrical or heating, ventilation or air conditioning systems, or (b) will adversely impact the structure of the Building, or (c) are visible from the exterior of the Original Leased Premises, or (d) which will result in the penetration or puncturing of the roof or floor (and consent or approval  for  items  in  romanette (i) and (ii) above shall be in the Landlord's sole and absolute discretion).  If Landlord disapproves the Proposed Space Plans, Tenant  shall  cause  the  Design Professionals to revise and resubmit same to Landlord for  approval  within  seven  (7) business days (for purposes of this Exhibit G, the "Revised Space Plans"). Within seven (7) business days after delivery of the Revised Space Plans to Landlord, Landlord shall either approve the Revised Space Plans or notify Tenant of the item(s) of the Revised Space Plans which Landlord disapproves and  the  reason(s)  therefor.  If Landlord  disapproves  the Revised Space Plans, Tenant shall cause the Design Professionals to further revise and resubmit same to Landlord for approval within seven (7) business days, which process shall continue until the plans are approved. Landlord shall have seven (7) business days after delivery of each set of Revised Space Plans to either approve the Revised Space Plans or notify Tenant of the item(s) of the Revised Space Plats which Landlord disapproves and the reason(s) therefor. The Proposed Space Plans or Revised Space Plans, as approved by Landlord, are hereinafter  referred to in this Exhibit G as the "Space  Plans".

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(b)Upon Landlord's approval of the Space Plans, Tenant, at Tenant's sole cost and expense, shall cause the Design Professionals to prepare construction drawings (in accordance with the Space Plans) and specifications including complete sets of detailed architectural, structural, mechanical, electrical and plumbing working drawings (for purposes of this Exhibit G, the ''Proposed Construction Drawings") for the Original Leasehold Improvements and shall deliver the Proposed Construction Drawings to Landlord for approval (which approval shall not be unreasonably withheld, conditioned or delayed unless the Proposed Construction Drawings affect (i) any structural alterations, improvements or additions to the Expansion Space, or (ii)  any  alterations,  improvements or additions to the Expansion Space which (a) will adversely impact the Building's  mechanical,  electrical  or heating, ventilation  or air  conditioning  systems, or 

(b) will adversely impact the structure of the Building, or (c) are  visible  from  the exterior of the Expansion Space, or (d) which will  result  in  the  penetration  or puncturing of the roof or floor). Within ten (10) business days after delivery of the Proposed Construction Drawings to Landlord, Landlord shall either  approve  the Proposed Construction Drawings or notify Tenant of the item(s) of the Proposed Construction   Drawings   that  Landlord   disapproves   and  the  reason(s)  therefor.    If Landlord disapproves the Proposed Construction Drawings , Tenant shall cause the Design Professionals to revise and resubmit same to  Landlord  for  approval  within  seven (7) business days (for purposes of this Exhibit G, the "Revised Construction Drawings"). Within seven (7) business days after delivery of the Revised Construction Drawings to Landlord, Landlord shall either  approve  the  Revised  Construction Drawings or notify Tenant of the item(s) of the Revised Construction Drawings which Landlord disapproves and the reason(s) therefor. If Landlord disapproves the Revised Construction Drawings, Tenant shall cause the Design  Professionals  to  further revise and resubmit the same to Landlord for approval within seven (7) business days, which process  shall  continue  until  the  plans  are approved.        Landlord  shall have  seven (7) business days after delivery of each set of Revised Construction Drawings to either approve the Revised Construction Drawings or notify Tenant of the item(s) of  the Revised Construction Drawings which Landlord  disapproves  and  the  reason(s)  therefor. The Proposed Construction Drawings or Revised Construction Drawings, as approved   by   Landlord,    are   hereinafter    referred    to   in   this   Exhibit    G  as   the "Construction  Drawings".

3.Quality of Work. Tenant shall supervise the construction of the Original Leasehold Improvements in conformance with the Construction Drawings and  shall use its  diligent good faith, efforts to cause the same to be constructed and installed in a good and workmanlike manner in accordance with good industry practice.

		
	4.
	Intentionally Deleted.

		
	5.
	Intentionally Deleted.

6.Disclaimer     of    Warranty.        TEN.ANT    ACKNOWLEDGES     THAT THE CONSTRUCTION AND INSTALLATION OF THE ORIGINAL LEASEHOLD IMPROVEMENTS WILL BE PERFORMED BY AN UNAFFILIATED CONTRACTOR OR CONTRACTORS AND THAT ACCORDINGLY LANDLORD  HAS  NOT  MADE  AND  WILL  NOT  MAKE ANY WARRANTIES

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TO TENANT WITH RESPECT TO THE QUALITY OF CONSTRUCTION THEREOF OR AS TO THE CONDITION OF THE ORIGINAL LEASED PREMISES, EITHER EXPRESS OF IMPLIED, AND THAT LANDLORD EXPRESSLY DISCLAIMS ANY IMPLIED WARRANTY THAT THE ORIGINAL LEASED PREMISES ARE OR WILL BE SUITABLE FOR TENANT'S INTENDED COMMERCIAL PURPOSE. AS SET FORTH IN SECTION 27 OF THE LEASE AGREEMENT, TENANT'S OBLIGATION TO PAY BASE AND ADDITIONAL RENT HEREUNDER IS NOT DEPENDENT UPON THE CONDITION OF THE ORIGINAL LEASED PREMISES  OR THE  BUILDING OR PERFORMANCE BY LANDLORD OF ITS OBLIGATIONS HEREUNDER, AND TENANT SHALL CONTINUE TO PAY THE BASE AND ADDITIONAL RENT WITHOUT ABATEMENT, SETOFF,  OR  DEDUCTION.  ANY APPROVAL GIVEN BY LANDLORD WITH RESPECT TO TENANT'S CONSTRUCTION OR THE SPACE PLANS OR CONSTRUCTION DRAWINGS THEREFOR, AND/OR ANY MONITORING OF TENANT'S WORK BY LANDLORD, SHALL NOT MAKE  LANDLORD  LIABLE  OR  RESPONSIBLE IN ANY WAY FOR THE CONDITION, QUALITY OR FUNCTION OF SUCH MATTERS OR CONSTITUTE ANY UNDERTAKING, WARRANTY OR REPRESENTATION BY LANDLORD WITH RESPECT TO ANY OF SUCH MATTERS. NOTWITHSTANDING ANY BREACH BY LANDLORD OF ITS DUTIES OR OBLIGATIONS HEREUNDER, WHETHER EXPRESS OR IMPLIED,     EXCEPT    AS    OTHERWISE    PROVIDED     IN    THIS    LEASE AGREEMENT. However, Landlord agrees that in the event any defect in the construction  of the Original Leasehold Improvements are discovered, Tenant may seek to enforce any warranties of the contractor(s) and/or the manufacturer of any defective  materials incorporated therein.

7.Cost of Original Leasehold Improvements.  Landlord shall pay all costs and   expenses of  the  Original  Leasehold  Improvements  (including  labor,  materials, construction management,  architectural  and engineering costs) up to the aggregate amount  of $45.00 per square foot of Net Rentable Area of  the  Manufacturing  Space  only  (i.e., 25,304 sf) (for purposes of this Exhibit G, the "Improvement Allowance"). Landlord  shall pay any invoices for consultants engaged directly by Tenant out of the Improvement Allowance within thirty (30) days after delivery. In the event that the cost and expense of constructing and installing any portion of the Original Leasehold Improvements (based on the budget set forth in the construction contract between  Tenant and its general  contractor)  for the total  costs related  to or for constructing the Original Leasehold Improvements  (or  implement  the  change  order, if applicable) exceed the Improvement Allowance (the "Excess Cost"), then prior to Landlord's approving the construction contract with respect to the Original Leasehold Improvements or, as applicable, Landlord approving any change order work, Tenant shall deposit into escrow, pursuant to an escrow agreement in the form attached hereto as Addendum 1 (the "Escrow Agreement") signed by Tenant, Landlord and Escrow Agent (as defined in the Escrow Agreement), as security for payment, one hundred ten percent (110%) of the amount of Landlord's good faith, reasonable estimate of any Excess Costs (the "Deposit"), based on Tenant's budget set forth in the construction contract  between  Tenant and its general contractor. No more frequently than once per month, Tenant shall invoice Landlord for the portion of the Excess Cost expended by Tenant. Landlord shall submit a  draw request  for the invoiced  amount  from  the  Deposit  held  by  Escrow Agent  within ten

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(10) business days thereafter; provided,  however,  Landlord's  draw request  for payment  from  the Deposit shall be made after each and all of the following conditions  shall  have  been  satisfied: (i) the Original Leasehold Improvements (or applicable  portion  thereof)  shall have  been completed in accordance with  the  Construction  Drawings;  (ii) Tenant  shall  have delivered to Landlord satisfactory evidence that all mechanics' lien rights of all contractors, suppliers, subcontractors, or materialmen furnishing labor, supplies or materials  in  the construction or installation of the Original Leasehold Improvements (or applicable  portion  thereof) have been unconditionally waived, released, or extinguished; (iii) Tenant shall have delivered to Landlord paid receipts or other written evidence satisfactorily  substantiating  the actual amount of the  construction  costs  of  the  Original  Leasehold  Improvements  (or applicable portion thereof); and (iv) Tenant shall not then  be  in  default  of  any  of  the  provisions of the Lease. Tenant shall authorize Landlord to draw  on  its  Deposit  for  the  invoiced amount (plus any costs incurred  by Landlord  as a result  of  the  draw), provided  that the remaining amount of the Deposit shall at all times be at  least  one  hundred  ten  percent (110%) of the then-projected Excess Cost not yet expended. In addition, in connection with payment or reimbursement of any of the Excess Costs, Landlord  shall  be  entitled  to  use Tenant's funds from the Deposit prior  to  disbursing  any  portion  of  the  Improvement Allowance.  If Tenant  pays  the  invoiced  amount  without  requesting  Landlord  to  make  a draw upon the Deposit, Landlord  shall  approve  a reduction  in the  amount  of  the  Deposit,  to an amount equal to one  hundred  ten  percent  (110%)  of  the  then-projected  Excess  Cost  not yet  expended.

8.Construction  Management  Fee. Tenant acknowledges  and agrees to pay Landlord, or Landlord's designated representative or entity, a construction management  fee equal to  two percent (2%) of the total  costs  and  expenses  of  the  Original  Leasehold Improvements, excluding "soft" costs incurred by Tenant, such as Tenant's interior architect and third-party consultants retained directly by Tenant, as well as Landlord's out-of-pocket costs to engage non-ordinary, third-party consultants for purposes of reviewing and monitoring  Tenant's obligations  under  this  Exhibit  G.   Such  construction  management fee may  be  paid  for by Tenant out of the Improvement Allowance.

9.Builder's Risk Insurance. Tenant shall cause the general contractor to obtain and maintain Builder's Risk insurance on an "all risk" basis and on a completed value form including a Permission to Complete and Occupy endorsement, for full replacement value of, the Original Leasehold Improvements, such policy naming Landlord  and  Tenant  as additional insureds. The cost of such insurance shall be paid for out of the Improvement Allowance. Tenant shall provide Landlord with certificates of insurance evidencing that Tenant and its contractor(s) are carrying the insurance required under this Exhibit  G.

10.No Liens; Indemnification. Tenant shall have  no authority  to place  any lien upon  the Original Leased Premises, or the Building, or any portion thereof or interest therein, nor shall Tenant have any authority in any way to bind Landlord, and any attempt to do so shall be void and of no effect.  If,because  of any actual or alleged  act or omission  of Tenant, or  its contractor, or any subcontractors or materialmen, any lien, affidavit, charge or order for  the payment of money shall be filed against Landlord, the Original Leased Premises, the Building, or any portion thereof or interest therein, whether or not  such  lien,  affidavit, charge or order is valid or enforceable, Tenant shall, at its sole cost and expense, cause the same to be discharged of record by payment, bonding or otherwise no later than fifteen (15)

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days after notice to Tenant of the filing thereof, but in any event prior to the foreclosure thereof. With respect to the contract for labor or mate.rials for construction of the Original Leasehold Improvements, Tenant acts as principal and not as the agent  of  Landlord.  Landlord expressly disclaims liability for the cost of labor performed for or supplies or materials furnished to Tenant. Landlord may post one or more "notices  of  non­ responsibility'' for Tenant's work  on  the Building.  No  contractor  of Tenant is intended  to be a third-party beneficiary with respect to the Improvement Allowance, or the agreement of Landlord to make such Improvement Allowance available for payment of or reimbursement for the costs of construction of the Original Leasehold Improvements. Tenant agrees to indemnify, defend and hold Landlord, the Original Leased Premises and the Building, harmless from all claims (including all costs and expenses of defending against such claims) a.rising or alleged to arise from any act or omission of Tenant or Tenant's agents, employees, contractor, subcontractors, suppliers, mate.rialmen, architects,  designers,  surveyors, engineers, consultants, laborers, or invitees, or arising from any bodily injury or property damage occurring or alleged  to have occurred incident  to any of  the work to be performed  by Tenant or its contractors or subcontractors with respect to the Original Leased Premises. Any default by Tenant under this Exhibit G shall constitute a default by Tenant under the Lease for all purposes.

11.        General Requirements. All of Tenant's construction with respect to the Original  Leased Premises shall be performed in substantial compliance with this Exhibit G and the Construction Drawings therefor previously approved in writing by Landlord (and  any  changes thereto approved by Landlord as herein provided), utilizing only new materials. All such work shall be performed by Tenant in strict compliance with all applicable building codes, regulations and all other legal requirements. All materials utilized in the construction  of Tenant's work must be confined to within the Original Leased Premises. All trash and construction debris not located wholly within the Original  Leased  Premises  must  be removed each day from the Buildings and its appurtenant  areas at the sole cost and expense  of Tenant. Landlord shall have the right at all times  to monitor  the work  for compliance  with the requirements of this Exhibit G. If Landlord determines that any such requirements  are not being strictly complied with, Landlord may immediately require the cessation of all work being performed in or around the Original Leased Premises or the Building until such time as Landlord is satisfied that the applicable requirements will be observed. Tenant specifically agrees to carry, or cause the contractor to carry, during all such times as the Tenant's work is being performed, insurance in compliance with Landlord's then-current insurance standards.

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ADDENDUM 1
FORM OF ESCROW AGREEMENT

ESCROW AGREEMENT

This  Escrow  Agreement  ("Escrow  Agreement")  is entered  into effective as of ________________    , 2016 by and among Charter Title Company (the  "Escrow Agent"), Life Science Plaza Investment Group, LP, a Delaware limited partnership ("Landlord"), and Bellicum Pharmaceuticals, Inc., a Delaware corporation  ('Tenant").

RECITALS:

A.Landlord and Tenant are parties to that certain Lease Agreement dated June 1, 2012 ("Original Lease"), as amended by that certain First Amendment to Lease Agreement dated September 13, 2013, as amended by that certain Second Amendment to Lease Agreement, as amended by that certain Third Amendment to Lease Agreement dated July 21, 2014, as amended by that certain Fourth Amendment  to  Lease  Agreement dated November 12, 2014 ("Agreement"), and as amended by that certain Fifth Amendment to Lease Agreement dated September 24, 2015.

B.The Agreement provided for the expansion of Tenant's then-existing premises and the construction of certain leasehold improvements to be made in the  Additional Premises and Hold Premises (these terms and other capitalized terms not otherwise defined in this Escrow Agreement shall have the meaning set forth in the Agreement), at Tenant's sole cost and expense.

C.Landlord has heretofore paid Tenant the Allowance required under Section 11 of the Agreement, and Tenant is responsible for the Excess Cost (as defined in Exhibit G of the Original Lease) of the leasehold improvements.

D.In lieu of directly paying Landlord the entire estimated Excess Cost, Landlord and Tenant have agreed to have Tenant deposit and escrow with Escrow Agent One Million Five Hundred Fifty Seven Thousand One Hundred Sixty and 27/100 Dollars ($1,557,160.27) ("Escrow Amount").

E.Tenant has heretofore separately and directly paid the contractor performing the leasehold improvements Two Hundred Seventy Three Thousand  Nine  Hundred Fourteen and No/100 Dollars ($273,914.00) ("Previous Payment") toward the Excess Cost of the leasehold improvements.

F.The Escrow Amount is security for Tenant's payment of the balance of  the Excess Cost to construct the leasehold improvements to Landlord, and the Escrow Amount represents one hundred and ten percent (110%)  of the estimated  Excess Cost of the leasehold improvements, as reduced in consideration of Tenant's Previous Payment to DPR Construction ('"'DPR"), the contractor performing the leasehold improvements.

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and Escrow Agent agree as follows:

718745631.7 15494101
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	1.
	Acceptance of Appointment by Escrow Agent. The Escrow Agent hereby agrees to act as the escrow agent under this Escrow Agreement and acknowledges receipt of the Escrow Amount and agrees to hold and disburse the Escrow Amount pursuant to Section 7 of Exhibit G to the Original  Lease.

		
	2.
	Compensation  of Escrow Agent. The Escrow Agent acknowledges receipt of  a fee from Tenant  of $ __________    in consideration  for its  agreement to  act as Escrow Agent under this Escrow Agreement.

		
	3.
	Investment of Escrow Amount. The Escrow Agent shall deposit the Escrow Amount in a federally insured interest bearing account(s) (Escrow Account) reasonably acceptable to Landlord, Tenant, and Escrow Agent.  All  interest  on the Escrow Amount shall be deposited in the Escrow Account and constitute a part of the Escrow Amount. The Escrow Amount (including any interest thereon) shall be owned by Tenant until disbursed in accordance with this Escrow Agreement.

		
	4.
	Term. The term of this Escrow Agreement shall commence on the date the Escrow Amount is received by Escrow Agent and shall continue in full force and effect until all of the Escrow Amounts have been fully disbursed as provided herein.

		
	5.
	Supplement of Escrow Amount. Landlord and Tenant  agree  and acknowledge that Section 7 of Exhibit G to the Original Lease  obligates Tenant to deposit additional amounts with Landlord if the reasonable estimate of the Excess Cost at any given time is greater than originally anticipated (whether due to a change order or otherwise), and in the event the projected Excess Cost exceeds the Escrow Amount, then Tenant agrees to promptly deposit such additional amounts as required under Section 7 of Exhibit G to the Original Lease, and such additional amounts  shall be deemed a part of  the Escrow Amount.

		
	6.
	Disbursement of Escrow Amount. Escrow Agent shall make disbursements of the Escrow Amount pursuant to the Agreement, and shall pay Landlord (or DPR, upon Landlord's request) from the Escrow Amount as and when the same would be required of Tenant under the Agreement, except as otherwise expressly set forth in this Escrow Agreement. Only Landlord shall be authorized to submit a draw request to Escrow Agent, a copy  of which shall  be delivered simultaneously by Landlord to Tenant.  Landlord  shall  make draw requests only in accordance with the terms of the Agreement. A disbursement shall be made by Escrow Agent to Landlord (or DPR, upon Landlord's request) within two (2) business days (such period, the "Objection Period") after receipt of the applicable draw request; provided, however, that Tenant shall have the right to contest any such draw request by providing notice thereof to Landlord and Escrow Agent prior to the expiration of the Objection Period, in which event any amounts objected to shall be held by Escrow Agent. Landlord and Tenant shall then in good faith discuss Tenant's objection, and attempt to reach a resolution within fourteen (14) days ("Negotiation Period"). If Landlord and Tenant reach a resolution within the Negotiation Period, then Landlord and Tenant shall jointly agree  in writing upon the agreed disbursement amount and instruct Escrow Agent to immediately disburse the same; if, however, Landlord and Tenant are unable to resolve Tenant's objection within the Negotiation Period, Landlord  may make a second written request to Escrow Agent to release the amount objected to by Tenant and such amount shall be immediately disbursed to Landlord for payment to the applicable contractor, supplier, subcontractor,   or

718745631.7 15494101
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materialman, notwithstanding Tenant's continued objection. In the event Tenant separately pays Landlord for the Excess Cost, Landlord and Tenant shall jointly instruct the Escrow Agent to disburse the amount of  such  payment (or the entire Escrow Amount, if Tenant has paid the entire Excess Cost to Landlord) to Tenant within three (3) days; provided, however, Escrow Agent shall not reduce the Escrow Amount unless instructed  in writing  by  both Landlord and Tenant.

		
	7.
	Final Draw Request. Landlord shall notify Tenant and Escrow  Agent  in  writing of the occurrence of the Leasehold Improvements Completion  Date  (as defined in the Agreement) and shall promptly submit a draw request in accordance with Section 6 above for any outstanding invoices payable to the contractor (the "Final Draw Request"). In the event that any portion of the Escrow Amount remains unused following payment of the  Final  Draw Request by Escrow Agent to Landlord, such amounts shall be refunded to Tenant by Escrow Agent one hundred forty (140) days following  the  Final Draw Request, whereupon this Escrow Agreement shall terminate and be of no further force or effect, except for those provisions that expressly survive such termination.

		
	8.
	Reimbursement of Landlord's Costs. Tenant  acknowledges  that  Landlord has accommodated Tenant's request to use Escrow Agent, and Tenant  agrees to directly pay Landlord, within ten (10) days following receipt of an invoice from Landlord, for Landlord's reasonable, out-of-pocket costs  (including reasonable attorneys' fees) related to establishing the Escrow Account and this Escrow Agreement.

		
	9.
	Rights, Privileges, Immunities and Liabilities of Escrow Agent. The following shall govern the rights, privileges, immunities and liabilities of the Escrow Agent:

a.The Escrow Agent is not a party to, and is not bound by, any agreements between Landlord and Tenant.
b.The Escrow Agent shall act as a depository only and is not responsible or liable in any manner whatsoever for the sufficiency, correctness, genuineness or validity of the Agreement or Escrow Amount, or any part thereof, or for the form or execution thereof, or for the identity or authority of any person executing the Agreement or depositing the Escrow Amount.
c.In the event the Escrow Agent becomes involved in litigation in connection with this Escrow Agreement or the  Escrow  Amount, Landlord and Tenant jointly and severally agree to indemnify and save the Escrow Agent harmless from all losses, costs, damages, expenses and attorneys' fees suffered or incurred by the Escrow Agent as a result thereof, except with respect to action or omissions taken or suffered by Escrow Agent in bad faith, and willful disregard of this Escrow Agreement or involving gross negligence, willful misconduct or fraud.
d.The Escrow Agent shall be protected in acting on any written notice, request, waiver, consent, certificate, receipt, authorization, power of attorney, or other paper or document which the Escrow Agent in good faith believes to be genuine and what it  purports to be.
e.The Escrow Agent shall not be liable for anything which it may do or refrain from doing in connection with this Agreement,   provided

718745631.7 15494101
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that it acts in good faith and not in willful disregard of this Agreement or involving gross negligence, willful misconduct or fraud.

f.In the event of any disagreement resulting in adverse  claims or demand being made in connection with the Escrow Amount, or  in the event that the Escrow Agent, reasonably and in good faith, shall be in doubt as to what action it should take hereunder,  the  Escrow Agent may, at its option, refuse to comply with any claims or demands on it, or refuse to take any other action hereunder, so long as such disagreement continues or such doubt exists, and in such event, the Escrow Agent shall not be or become liable in any way or to any person for  its failure  or refusal to act, and the Escrow Agent shall be entitled to continue to so refrain from acting until (i) the rights of all interested parties shall have been adjudicated by a court of competent jurisdiction, or (ii) all differences shall have been adjusted and all doubt resolved by agreement among all  of the interested parties, and the Escrow Agent shall have been  so  notified in a writing signed by all such parties. The rights of the Escrow Agent under this paragraph are cumulative of all other rights which it may have under applicable law or otherwise.
g.Upon delivery of the Escrow Amount pursuant to the terms of this Escrow Agreement, the Escrow Agent shall be discharged  from  any further obligation under this Agreement and this Agreement shall terminate and be of no further force and effect.

		
	10.
	Notices. Except as otherwise provided herein, all notices, demands, requests, and other communications required or permitted hereunder shall be given in writing and sent by (i) personal delivery, (ii) national courier service with proof of delivery, or (iii) United States mail, postage prepaid, registered or certified mail, return receipt requested, addressed to the addressee at such party's address set forth herein, or to such other address as such party may specify  by written notice, sent in accordance with this paragraph at least thirty (30) days prior to the date of the giving of such notice. Any such notice or communication shall be deemed to have been given and  received either  at the time of personal delivery,  or in the case of mail, as of the date of deposit  in an official depository of the United States mail, or in the case of delivery service, upon receipt. To the extent actual receipt is required, rejection or  other refusal to accept or the inability to deliver because of changed address of which no notice was received shall be deemed to be receipt of the notice, demand, request or other communication sent.

		
	11.
	Binding Effect of Agreement and Assignment. This Escrow Agreement shall  be binding on, inure to the benefit of and be enforceable by Landlord, Tenant, and Escrow Agent.

		
	12.
	No Third Party Beneficiary. This Escrow Agreement is for the sole benefit of the parties hereto and is  not for the benefit of any third party.

		
	13.
	Choice of Law. This Escrow Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Texas, and venue in any action arising under this Agreement shall be in a Court of competent jurisdiction  in Harris County, Texas.

		
	14.
	Multiple Counterparts. This Escrow Agreement may be executed in multiple counterparts each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

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	15.
	Amendment. This Escrow Agreement may be amended only by a written instrument executed by all three parties hereto.

		
	16.
	Time of Essence. Time is of the essence of this  Escrow  Agreement. However, if the final date of any period which is set out in any provision or if this Agreement falls on a Saturday, Sunday or legal holiday under the law of the United States or the State of Texas in such event, the time of such period shall be extended to the next day which is not a Saturday, Sunday or legal holiday.

		
	17.
	Invalid Provision. If any provision of this Agreement  is held to  be  legal,  invalid or unenforceable under present or future all laws, such provision shall be fully severable and this Escrow Agreement shall be construed and  enforced as such illegal, invalid or unenforceable provision had never comprised a part of this Escrow Agreement. The remaining provisions of this Escrow Agreement shall remain in full force and effect and shall not be effected by such illegal, invalid, or unenforceable provisions or by  its  severance from this Agreement.

		
	18.
	Entire Agreement. This Escrow Agreement sets forth the entire agreement between Landlord, Tenant, and Escrow Agent relating to the matters recited herein, and may not be contradicted by evidence of prior, contemporaneous, or subject to oral agreements of the parties.

		
	19.
	Number and Gender. Whenever the context so requires, references herein to the singular number shall include the plural, and likewise the plural shall include the singular; words noting gender shall be construed to include the masculine, feminine and neuter, where appropriate. If any party to  this  Escrow Agreement consists of more than one person or entity, the obligations of each person or entity constituting a party hereunder shall be joint and several.

[Remainder of page intentionally blank; signature page immediately follows]

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IN WITNESS WHEREOF, the undersigned have duly executed this Agreement as of the dates set forth below, to be effective for all purposes however, as of the date first above written.

ESCROW AGENT: 
CHARTER TITLE COMPANY,

By:             Name:        Title:            

Date:            

    

LANDLORD:

LIFE SCIENCE PLAZA INVESTMENT GROUP, LP,
a Delaware limited partnership,

		
	By:
	Life Science Plaza GP, Inc., 

a Delaware corporation,
  its general partner

By: ______________ 
        Samuel DePoy,
Secretary

Date: _______________,  2016

TENANT:

BELLICUM PHARMACEUTICALS, INC.,
a Delaware  corporation

By:             Name:        Title:            

Date:            

 

718745631.7 15494101
Page 29 of 29EX-10.9

 Exhibit 10.9 

EMPLOYMENT AGREEMENT 

This Employment Agreement (“Agreement”), including the attached Exhibits A, B and C which are made a part hereof for all purposes,
between RigNet, Inc. (“Company”) and Steven E. Pickett (“Executive”) is effective as of May 31, 2016 (“Effective Date”). The Company and Executive agree as follows: 

1. TERM AND POSITION: The Company agrees to employ Executive, and Executive agrees to be employed by the Company, in the Positions and
for the Term stated on Exhibit A. During the Term of this Agreement, Executive shall devote his full time and undivided attention during business hours to the business and affairs of the Company, except for vacations, illness or incapacity; however,
nothing in this Agreement shall preclude Executive from: (i) engaging in charitable and community activities, (ii) managing his personal investments and (iii) serving on the board of directors of those companies approved by the
Company provided that such activities in subparts (i), (ii) and (iii) do not materially interfere with the performance of his duties and responsibilities under this Agreement. The Board of Directors of the Company (“Board”) shall
give Executive written notice of any such activities that it reasonably believes materially interfere with the performance of his duties hereunder and provide Executive with a reasonable period of time to correct such interference. The Company shall
request and support the nomination of the Executive to the Board of Directors of the Company. If Executive serves as a member of the Board, Executive shall resign from the Board when he ceases to hold the position designated in Exhibit A. 

2. COMPENSATION: While Executive serves in the Positions set forth on Exhibit A, Executive’s annual base salary, as set forth on
Exhibit A, shall be paid in accordance with the Company’s standard payroll practices for its executive officers. Executive’s compensation as an employee of the Company shall also include annual bonus opportunities and periodic long-term
incentive awards, in cash and/or in Company equity, as determined appropriate from time to time by the Compensation Committee of the Board or the Board itself, and pursuant to the terms and conditions set forth in applicable plan documents. The
Executive agrees that the compensation and benefits provided by the Company under this Employment Agreement or otherwise is subject to recoupment or clawback under any applicable Company clawback or recoupment policy that is generally applicable to
its executives, as may be in effect from time to time, or as required by law. 
 3. BENEFITS: Executive shall be allowed to
participate in all compensation and benefit plans and receive all perquisites that the Company makes available to its other similarly situated senior executives and also to participate in those employee benefit plans and programs that the Company
makes available to the Company’s employees in general, subject to the terms and conditions of applicable plan documents. Nothing in this Agreement is to be construed to obligate the Company to institute, maintain, or refrain from changing,
amending, or discontinuing any benefit program or plan, so long as such actions are similarly applicable to the covered executives or employees, as applicable. 

4. INDEMNIFICATION: In any situation where under applicable law the Company has the power to indemnify, advance expenses to, and defend
Executive in respect of, any claims, judgments, fines, settlements, loss, cost or expense (including attorneys’ fees) of any nature 

  
 - 1 - 

 
related to or arising out of Executive’s activities as an agent, employee, officer or director of the Company or in any other capacity in which he is acting or serving on behalf of or at the
request of the Company (a “Claim”), the Company shall fully indemnify Executive to the maximum extent permitted by law and promptly on written request from Executive advance expenses (including attorneys’ fees) to Executive and defend
Executive to the fullest extent permitted by law, unless Executive has been grossly negligent or willfully engaged in misconduct in the performance or nonperformance of his duties that is the basis for such Claim, which nonperformance shall include
a failure of Executive to inform the Board of matters that could reasonably be expected, at such time, to be materially injurious financially to the Company. Further, Executive shall not be entitled to any indemnity or defense from the Company for
any claims brought by Executive against the Company or for claims brought by the Company against Executive. This contractual indemnification of Executive by the Company hereunder shall not be deemed or construed as operating to impair any other
obligation of the Company respecting Executive’s indemnification or defense otherwise arising out of this or any other agreement or promise or obligation of the Company under any statute, articles of incorporation, by-laws or otherwise. 

5. D&O INSURANCE: The Company will obtain and maintain throughout the Term officer and director liability insurance covering
Executive in an amount believed by the Board to be reasonable for the Company, given its size and activities, but in no event shall the coverage for Executive be less (in amount or scope) than the coverage provided for any other officer or director
of the Company. To the extent provided in the applicable policy, such insurance coverage shall continue as to Executive after he has ceased to be a director, officer or executive of the Company with respect to acts or omissions that occurred prior
to such cessation. Insurance contemplated by this Section shall inure to the benefit of Executive, his heirs and the executors and administrators of his estate. 

6. BUSINESS EXPENSES: The Company shall promptly pay all reasonable and properly documented business related expenses reasonably
incurred by Executive in the performance of his duties under this Agreement. 
 7. TERMINATION OF EMPLOYMENT: The Company and
Executive agree that either party may, upon at least 30 days written notice to the other, terminate Executive’s employment; provided, however, that Executive’s employment may be terminated by the Company for Cause only as provided below.
Subject to Section 28, if applicable, as soon as practical, and not later than 30 days, following his termination date, the Company shall pay Executive (or, if applicable, Executive’s estate within 90 days of Executive’s death)
(i) any earned but unpaid base salary, (ii) any accrued but unused vacation up to a maximum of four weeks, plus up to the maximum unused carry-over of vacation provided in the Company’s written vacation policy then in effect, and
(iii) all reasonable, properly documented, and unreimbursed business expenses incurred by him prior to his termination. 
 8.
SEVERANCE PAY AND BENEFITS: In addition to the termination payments in Section 7, the Company shall provide severance payments to Executive as provided in this Section 8 and, to the extent applicable, Section 9 below. 

  
 - 2 - 

 a. Termination without Cause, Resignation for Good Reason, and Upon Change of Control. If
the Company terminates Executive’s employment without Cause (other than for death or Disability), the Company, or its successor, terminates Executive on or within two years after a “change of control event,” as defined in the Treasury
Regulations issued under Section 409A of the Code (a “Change of Control”), or Executive terminates his employment for Good Reason, the Company shall pay Executive a Cash Severance Amount and provide Executive with the severance
benefits set forth in subparagraphs (i) through (iii) below (collectively, the “Severance Pay”). The Severance Pay shall be subject to Section 22 and, to the extent applicable, Section 28. 

i. The Cash Severance Amount shall be the amount as provided in Exhibit A hereto. The Company shall pay the Cash Severance Amount to
Executive in a lump sum by wire transfer on the first day of the seventh month following the termination date. 
 ii. Provided Executive
timely elects continued coverage under the Company’s group health plan pursuant to Section 4980B of the Internal Revenue Code of 1986, as amended (“Code”) (“COBRA”), the Company shall reimburse Executive an amount equal
to the full premium required for such continued coverage elected for his applicable COBRA period but not to exceed 18 months; provided, however, such COBRA premium shall be reimbursed to Executive on a fully grossed-up after-tax basis, if necessary
for Executive not to be subject to tax under Section 105 of the Code. 
 iii. The immediate vesting of the Signing Bonus stock options
as provided in Exhibit A hereto. 
 b. Termination Due to Death, Disability, Voluntary Resignation or by the Company for Cause. If
Executive’s employment is terminated by the Company or Executive due to his Disability or by the Company for Cause, or Executive dies or voluntarily resigns his employment with the Company without Good Reason, then as soon as practical on or
following his termination, the Company shall pay Executive or his estate, if applicable, the salary and benefits listed in Section 7 of this Agreement. If Executive’s employment is terminated by the Company for Cause or Executive
voluntarily resigns from the Company without Good Reason, Executive shall not be entitled to Severance Pay. 
 c. Definitions. The
following are definitions of terms used in this and other sections of this Agreement. 
 i. Cause. “Cause” means
(i) Executive’s plea of guilty or nolo contendre, or conviction of a felony or a misdemeanor involving moral turpitude; (ii) any act by Executive of fraud or dishonesty with respect to any aspect of the Company’s business
including, but not limited to, falsification of Company records; (iii) intentional engagement in misconduct by Executive that is materially injurious to the Company (monetarily or otherwise); (iv) Executive’s breach of Sections 12 or
13 of this Agreement; (v) commencement by Executive of employment with an unrelated employer; (vi) material violation by Executive of any Company written policies, including but not limited to any harassment and/or non-discrimination
policies; (vii) Executive’s gross negligence in the performance of Executive’s duties; provided, however, Executive shall not be deemed to have been terminated for Cause under clauses (ii) through (vii) above unless the
determination of whether Cause exists is made by a resolution duly adopted by 

  
 - 3 - 

 
the affirmative vote of not less than three-fourths of the entire membership of the Board (excluding Executive, if a member) at a meeting of the Board that was called for the purpose of
considering such termination (after 15 days’ notice to Executive and an opportunity for Executive, together with Executive’s counsel, to be heard before the Board and, if reasonably possible, to cure the breach that is the alleged basis
for Cause) finding that, in the good faith opinion of the Board, Executive was guilty of conduct constituting Cause and specifying the particulars thereof in detail. 

ii. Good Reason. “Good Reason” means (i) a material adverse change in Executive’s position, authority, duties or
responsibilities, (ii) a reduction in Executive’s base salary or the taking of any action by the Company that would materially diminish the annual bonus opportunities of Executive from those provided to Executive immediately after the
Effective Date, (iii) the relocation of the Company’s principal executive offices by more than 50 miles from where such offices are located on the Effective Date or Executive being based at any office other than the principal executive
offices of the Company, except for travel reasonably required in the performance of Executive’s duties and reasonably consistent with Executive’s travel prior to the Effective Date, (iv) a material breach of this Agreement by the
Company, or (v) the failure of a successor to the Company to assume the Agreement. Executive shall provide written notice of any such reduction, failure, change or breach upon which Executive intends to rely as the basis for a Good Reason
resignation to the Company, or its successor, within 45 days of the occurrence of such reduction, failure, change or breach. The Company, or its successors, shall have 45 days following the receipt of such notice to remedy the condition constituting
such reduction, change or breach and, if so remedied, any termination of Executive’s employment hereunder on the basis of the circumstances described in such notice shall not be considered a Good Reason resignation. If the Company, or its
successor, does not remedy the condition that has been the subject of a notice as described in this paragraph within 45 days of the Company’s, or its successor’s, receipt of such notice, Executive must terminate his employment within 120
days following the occurrence of such condition in order for such termination to be considered for Good Reason for purposes of this Agreement. 

iii. Disability. “Disability” means Executive (i) is unable to perform substantially Executive’s duties with the
Company with or without reasonable accommodation as a result of any physical or mental impairment that is reasonably expected to last for a continuous period of not less than 12 months, as supported by a written opinion by a physician selected by
Executive, and (ii) is receiving long-term disability benefits under the Company’s insured long-term disability plan. 
 9.
COMPANY EQUITY: The provisions of this Section 9 are in addition to any rights of Executive under Sections 7 and 8 and shall be deemed to be incorporated into each Company equity award agreement with Executive outstanding as of the
Effective Date and shall control over any provision in such award agreement that is less favorable to Executive. 
 a. If Executive
terminates his employment for Good Reason or Executive’s employment is terminated by the Company for any reason other than Cause and such termination occurs on or within two years after a Change of Control, all Company stock options, restricted
stock awards and any other Company equity-based awards of Executive (other than Performance Stock Units) automatically shall vest in full notwithstanding anything in any award agreement to the contrary and, as applicable, shall remain exercisable
for the term specified in the applicable award agreement. 

  
 - 4 - 

 b. If Executive’s employment with the Company ceases due to death or Disability, all
Company stock options, restricted stock awards and any other Company equity-based awards of Executive (other than Performance Stock Units) automatically shall vest in full notwithstanding anything in any award agreement to the contrary and, as
applicable, shall remain exercisable for the term specified in the applicable award agreement. 
 c. If any award of Company stock option,
restricted stock or any other Company equity-based award of Executive is not assumed or continued by the Company’s successor after a Change of Control, such award automatically shall vest and become exercisable and/or payable in full, as the
case may be, on the date of the Change of Control. 
 10. NO OFFSET OR MITIGATION: Executive shall not be required to mitigate the
amount of any payment or benefit provided for under this Agreement by seeking other employment or otherwise nor shall the amount of any payment or benefit provided for in this Agreement be reduced as the result of his employment by another employer
or his self-employment, except that any welfare severance payments or welfare benefits that Executive is entitled to receive pursuant to a Company severance welfare benefit plan for employees in general shall reduce the amount of welfare severance
payments and welfare benefits otherwise payable or to be provided to Executive under this Agreement, but only to the extent they are duplicative and such reduction complies with the requirements of Section 409A of the Code. 

11. PROMISE TO PROVIDE CONFIDENTIAL INFORMATION AND TRADE SECRETS: In connection with his employment with the Company under this
Agreement, the Company promises to provide Executive with valuable Confidential Information and Trade Secrets (defined below) regarding the Company and its clients and customers or other third parties, which is not generally known outside the
Company and which gives the Company a competitive advantage. The Company also promises to provide Executive access to its clients and customers and to provide Executive the unique opportunity to develop business relationships with such clients and
customers based on the Company’s long-standing relationship, reputation and goodwill with these clients and customers. Executive acknowledges that receipt of, and continuing access to, this Confidential Information and Trade Secrets regarding
the Company and its clients and customers, and access to the Company’s clients and customers and the benefit of the Company’s long-standing relationships, reputation and goodwill with its clients and customers allows Executive a unique
opportunity and advantage in developing business relationships with these clients and customers which he would not have otherwise had. 

12. CONFIDENTIALITY: 
 a.
NON-DISCLOSURE. Executive recognizes and agrees that he will have access to confidential information of a special or unique value concerning the Company (“Confidential Information”). Confidential Information refers to any
information, not generally known in the Business, which was obtained from the Company and its affiliates, or which was learned, discovered, developed, conceived, originated or prepared by Executive in the scope of his employment. Executive also
recognizes that a portion of the business of the Company is 

  
 - 5 - 

 
dependent on trade secrets (“Trade Secrets”). Confidential Information and Trade Secrets include, but are not limited to, any information, whether tangible or intangible and in whatever
medium, relating directly or indirectly to any proposed or existing business systems, strategies and models, proposed acquisitions, joint ventures or other strategic transactions, pricing strategies, technical data or know-how, finances, research,
development, clients, customers, prospective clients and customers, contractual relationships, markets, marketing or business plans, manufacturing, personnel, products, services, formulas, inventions, processes, formulations, extracts, techniques,
equipment, methods, designs, and drawings or engineering concepts of the Company and its affiliates, whether created, produced, manufactured, discovered, licensed, utilized, under development or otherwise obtained by the Company and its affiliates
through contractual or other relationships, as well as all information generated by the Company and its affiliates that contains, reflects, or is derived from such information, which contains or otherwise reflects or is generated from such
information and any other information which is identified as confidential by the Company. Executive acknowledges and agrees that the Confidential Information and Trade Secrets the Company is providing Executive under this Agreement is new
Confidential Information and Trade Secrets to which Executive did not have access or knowledge of prior to signing this Agreement. The protection of this new Confidential Information and Trade Secrets, as well as past Confidential Information and
Trade Secrets that became known to Executive during employment with the Company up to the Effective Date, against unauthorized disclosure or use is of critical importance to the Company. Accordingly, Executive agrees that he will maintain in
confidence and shall not disclose or use, either during or after the Term of this Agreement, any past or new Confidential Information and Trade Secrets belonging to the Company and its affiliates, whether or not in written form, except to the extent
required to perform his duties on behalf of the Company. 
 b. RETURN OF INFORMATION. All data, records and other written material
prepared or compiled by Executive, furnished directly or indirectly to Executive by the Company or its affiliates, or to which Executive may have access while in the employ of the Company, shall be the sole and exclusive property of the Company, and
none of such data, documents or other information, or copies thereof, shall be retained by Executive upon termination of Executive’s employment. Executive shall deliver promptly to the Company at termination, or at any other time the Company
may request, without retaining any copies, notes, or excerpts thereof, all memoranda, diaries, notes, records, plans, or other documents relating, directly or indirectly, to any Confidential Information and Trade Secrets made or compiled by, or
delivered or made available to, or otherwise obtained by Executive. 
 c. LEGAL OBLIGATION. In the event Executive is required by
any court or legislative or administrative body (by oral questions, interrogatories, requests for information or documents, subpoena, civil investigation demand or similar process) to disclose any Confidential Information and Trade Secrets,
Executive shall provide the Company with prompt notice of such requirement in order to afford the Company an opportunity to seek an appropriate protective order. If the Company is unable to obtain or does not seek such protective order and Executive
is, in the opinion of counsel, compelled to disclose such Confidential Information and Trade Secrets, disclosure of such information shall not be deemed to be a violation of this Agreement. 

13. RESTRICTIVE COVENANTS: As consideration for the provision of, and as an agreement ancillary to receipt of, new Confidential
Information and Trade Secrets to Executive 

  
 - 6 - 

 
and the other undertakings in this Agreement, and for the specific purpose of enforcing the provisions of Section 12 hereof, and as a means to protect the Company’s goodwill, Executive
hereby agrees to the following: 
 a. NON-COMPETITION. To the maximum extent permitted by law, during the Term of this Agreement and
for a period of two years after the termination of Executive’s employment for any reason, Executive agrees that, without the prior written consent of the Company, Executive shall not directly or indirectly, within the Geographic Area, whether
as an owner, employee, officer, director, investor, independent contractor, consultant, or otherwise, in any job function or capacity, participate or engage in the Business, or work for or provide services to any person, partnership, entity,
business, association, or corporation engaged or involved in the Business within the Geographic Area. The Geographic Area means the states of Texas, Louisiana (within the parishes listed in Exhibit B), Colorado, Wyoming, or any other state in the
United States or any other country worldwide in which the Company engages in Business on, or has engaged in Business within two years before, the date of Executive’s termination from the Company. Business means digital technology solutions,
including, Internet protocol-based voice, data and video networks and software application management services for energy, maritime and other vertical markets served by the Company during the term of the Agreement or the two year period preceding
the Agreement. Nothing in this Agreement prohibits Executive from owning a passive investment interest of less than 5% in a publicly traded company. Executive acknowledges that the foregoing non-competition covenant may restrict his ability to work
for certain companies, but that he will receive sufficient monetary and other consideration from the Company hereunder to justify such restriction and that the restriction is reasonable. Executive acknowledges that he considers the restrictions
contained in this Section 13 to be reasonable and necessary for providing consideration for his employment and for the purpose of preserving and protecting the valuable Confidential Information and Trade Secrets of the Company and its clients
and customers, and the Company’s goodwill, reputation, and relationships with its clients and customers. 
 b. NON-SOLICITATION OF
EMPLOYEES. During the Term of this Agreement and for a period of two years after the termination of Executive’s employment for any reason, Executive shall not, for his own behalf or on behalf of any other person, partnership, entity,
association, or corporation, (i) hire or seek to hire any employee of the Company, (ii) in any other manner attempt directly or indirectly to influence, induce, or encourage any such employee of the Company to leave such employment, or
(iii) use or disclose to any person, partnership, entity, association, or corporation any information concerning the names, addresses, telephone numbers, e-mail addresses, or other personnel-related information regarding any such employees;
provided, however, the foregoing shall not prohibit any general advertising. 
 c. NON-SOLICITATION OF CUSTOMERS. During the Term of
this Agreement and for a period of two years after the termination of Executive’s employment with the Company for any reason, Executive shall not, for his own behalf or on behalf of any other person, partnership, entity, association, or
corporation, solicit, transact, or attempt to transact Business with any person, firm or other entity who is or was a customer of the Company and with whom Executive: (i) directly or indirectly managed, or had knowledge of, business by the
Company; (ii) had contact or transacted business on behalf of the Company; or (iii) was involved in, or had knowledge of, the Company actively investigating with a view to conducting business or actively

  
 - 7 - 

 
pursuing a plan to conduct business, since the Effective Date of this Agreement or two years prior to the termination of his employment with the Company, whichever is shorter. Executive
acknowledges that this restriction is necessary in order for the Company to preserve and protect its legitimate proprietary interest in its goodwill, client and customer lists, and other Confidential Information and Trade Secrets; provided, however,
the foregoing shall not prohibit any general advertising that is not directed at customers of the Company. 
 14. WORK PRODUCT:
Executive shall promptly and fully disclose to the Company all Work Product which Executive conceives, creates or develops during his employment with the Company, whether conceived or developed during regular working hours or otherwise and whether
on Company premises or otherwise. All such Work Product shall be the exclusive property of the Company. Executive shall: (i) assist the Company in obtaining appropriate legal protection (including patent, trademark, and copyright protection)
for the rights of the Company with respect to such Work Product, and (ii) execute all documents and do all things necessary to (a) obtain such legal protection, and (b) vest the Company with full and exclusive title thereof. All Work
Product shall be considered, to the maximum extent possible, work made for hire by the Company within the meaning of Title 17 of the United States Code. To the extent the Company does not own such Work Product as a work made for hire, Executive
hereby assigns to the Company all rights to such Work Product. “Work Product” means designs, writings, programs, software, technical data, specifications, know-how, processes, methods, business confidential information, inventions,
discoveries, and works as well as the patents, copyrights, and other intellectual property and proprietary rights therein, conceived, created or developed by Executive on behalf of the Company reasonably related to the Company’s existing
business, contemplated business, and reasonable expansions of such business. The term “works” means computer programs, software, writings, drawings, artwork and all works of authorship under the copyright laws of the United States. 

15. SEVERABILITY AND REFORMATION: If any provision of this Agreement is held to be illegal, invalid or unenforceable under any present
or future law, and if the rights or obligations of Executive or the Company under this Agreement would not be materially and adversely affected thereby, such provision shall be fully severable, and the remaining provisions of this Agreement shall
remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance herefrom, and in lieu of such illegal, invalid or unenforceable provision, there shall be added automatically as a part
of this Agreement a legal, valid and enforceable provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible, and the Company and Executive hereby request the court to whom disputes relating to this Agreement
are submitted to reform the otherwise unenforceable provision in accordance with this Section 15. 
 16. WARRANTY AND
INDEMNIFICATION: Executive warrants that he is not a party to any other restrictive agreement limiting his activities in his employment by the Company. Executive further warrants that at the time of the signing of this Agreement, Executive knows
of no written or oral contract or of any other impediment that would inhibit or prohibit continued employment with the Company. Executive shall hold the Company harmless from any and all suits and claims arising out of any breach of such restrictive
agreement or contracts. 

  
 - 8 - 

 17. NON-DISPARAGEMENT: The parties shall refrain, both during and after the Term, from
publishing any oral or written statements about each other (including, with respect to the Company, its affiliates, or any of their respective officers, employees, agents, or representatives) that are disparaging, slanderous, libelous, or
defamatory. 
 18. NOTICES: Notices and all other communications shall be in writing and shall be deemed to have been duly given when
personally delivered or when mailed by United States registered or certified mail. Notices to the Company shall be sent to 1880 South Dairy Ashford, Suite 300, Houston, Texas 77077 attention: General Counsel. Notices and communications to Executive
shall be sent to the address Executive most recently provided to the Company. 
 19. NO WAIVER: No failure by either party at any
time to give notice of any breach by the other party of, or to require compliance with, any condition or provision of this Agreement shall be deemed a waiver of any provisions or conditions of this Agreement. 

20. INJUNCTIVE RELIEF: Executive acknowledges that the breach of any of the covenants contained in Sections 12 and 13 will give rise to
injury to the Company. Accordingly, Executive agrees that the Company shall be entitled to injunctive relief to prevent or cure breaches or threatened breaches of the provisions of this Agreement and to enforce specific performance of the terms and
provisions hereof in any court of competent jurisdiction, in addition to any other legal or equitable remedies, which may be available. Executive further acknowledges and agrees that the enforcement of a remedy hereunder by way of injunction shall
not prevent Executive from earning a reasonable livelihood. Executive further acknowledges and agrees that the covenants contained herein are necessary for the protection of the Company’s legitimate business interests and are reasonable in
scope and content. Nothing herein shall prevent either party from pursuing a legal and/or equitable action against the other party for any damages caused by such party’s breach of this Agreement. 

21. ARBITRATION: Any dispute about the validity, interpretation, effect or alleged violation of this Agreement (an “arbitrable
dispute”) must be submitted to confidential arbitration in Houston, Texas. Arbitration shall take place before an experienced employment arbitrator licensed to practice law in such state and selected in accordance with the Model Employment
Arbitration Procedures of the American Arbitration Association. Arbitration shall be the exclusive remedy of any arbitrable dispute. The Company shall bear all fees, costs and expenses of arbitration, including those of Executive unless the
arbitrator finds that Executive has acted in bad faith and provides otherwise with respect to the fees, costs and expenses of Executive; provided, however, in no event shall Executive be chargeable with the fees, costs and expenses of the Company or
the arbitrator. Should any party to this Agreement pursue any arbitrable dispute by any method other than arbitration, the other party shall be entitled to recover from the party initiating the use of such method all damages, costs, expenses and
attorneys’ fees incurred as a result of the use of such method. Notwithstanding anything herein to the contrary, nothing in this Agreement shall purport to waive or in any way limit the right of any party to seek to enforce any judgment or
decision on an arbitrable dispute in a court of competent jurisdiction. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts in Houston, Texas, for the purposes of any proceeding arising out of this
Agreement. However, this arbitration agreement shall not apply to any claim: (i) for workers’ compensation or unemployment benefits; or (ii) by Company for injunctive and/or other 

  
 - 9 - 

 
equitable relief for unfair competition and/or the use and/or unauthorized disclosure of Trade Secrets or Confidential Information, including but not limited to, matters described in Sections 12
and 13. With respect to matters referred to in the foregoing sub-paragraph (ii), the Company may seek and obtain injunctive relief in court, and then proceed with arbitration under this Agreement. 

22. RELEASE AGREEMENT: Executive agrees that, as a condition to receiving the Severance Pay, Executive shall execute a general release
in the form attached as Exhibit C to this Amendment (the “Release”) and the seven day revocation period provided for therein shall have expired unexercised. The Release shall include, without limitation, a waiver and release of all
claims arising out of Executive’s service as an employee of the Company, its subsidiaries or any of their affiliates and the termination of such relationship. Such claims include all claims based on any federal, state or local statute,
including without limitation the Age Discrimination in Employment Act of 1967, as amended, Title VII of the Civil Rights Act of 1964, as amended, the Civil Rights Act of 1866, the Employee Retirement Income Security Act of 1974, as amended, but
excluding all vested benefits and rights Executive has under any employee benefit plans, and the Texas Commission on Human Rights Act. The Company will deliver the Release to Executive within seven days following Executive’s termination. In
order for Executive to receive the Severance Pay, Executive must deliver a properly executed copy of the Release within the particular time period specified therein, which shall be no later than 45 days following the delivery of the Release to
Executive (such deadline, the “Release Deadline”), not revoke it, and any applicable revocation period set forth in the Release must have expired. Notwithstanding the foregoing, if Executive’s termination is due to death, or Executive
dies after his termination date and before the expiration of the Release Deadline without having executed the Release, the Release Deadline shall be extended to the 90th day after the date of Executive’s death. The properly executed Release
must actually be received by the Company, or its duly authorized representative, at the address specified by the Company by the Release Deadline to be considered timely. If Executive (or Executive’s executor for his estate) does not properly
execute the Release by the Release Deadline, or effectively revokes the executed Release within the applicable revocation period set forth in the Release, Executive (or Executive’s estate) will receive only such compensation and benefits as are
required by Section 7 and applicable law and will not be entitled to any Severance Pay. 
 23. GOVERNING LAW: This Agreement
will be governed by and construed in accordance with the laws of the State of Texas without regard to conflicts of law principles. 
 24.
SUCCESSORS: 
 a. This Agreement is personal to Executive and without the prior written consent of the Company shall not be
assignable by Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by Executive’s legal representatives. 

b. This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 

  
 - 10 - 

 c. The Company shall require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it
if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company as defined in this Agreement and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement
by operation of law or otherwise. 
 25. ENTIRE AGREEMENT: This instrument contains the entire agreement of Executive and the Company
with respect to the subject matter hereof and all promises, representations, understandings, arrangements, and prior and contemporaneous agreements (written or oral) between the parties with respect to the subject matter hereof, are terminated
hereby. 
 26. SURVIVAL/SEVERABILITY/HEADINGS: It is the express intention and agreement of the parties that Sections 8 through 28 of
this Agreement shall survive the termination of the Term. In addition, all obligations of the Company to make payments under this Agreement shall survive any termination of this Agreement on the terms and conditions set forth in this Agreement. The
invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the other provisions of this Agreement, which shall remain in full force and effect. Article and section headings
contained in this Agreement are provided for convenience and reference only, and do not define or affect the meaning, construction, or scope of any of the provisions of this Agreement. 

27. TAX WITHHOLDING: The Company shall be entitled to withhold from any compensatory payments that it makes to Executive under this
Agreement or otherwise all taxes required by applicable law to be withheld therefrom by the Company. 
 28. SECTION 409A COMPLIANCE:

 a. General Suspension of Payments. If Executive is a “specified employee,” as such term is defined within the meaning of
Section 409A of the Code, any payments or benefits payable or provided as a result of Executive’s termination of employment that would otherwise be paid or provided prior to the first day of the seventh month following such termination
(other than due to death) shall instead be paid or provided on the earliest of (i) the first day of the seventh month following Executive’s termination, (ii) the date of Executive’s death, or (iii) any date that otherwise
complies with Code Section 409A. In the event that Executive is entitled to receive payments during the suspension period provided under this Section, Executive shall receive the accumulated benefits that would have been paid or provided under
this Agreement within the suspension period on the earliest day that would be permitted under Section 409A of the Code. In the event of any such delay in payment, the deferred amount shall be paid in a lump sum and shall bear interest at the
LIBOR rate in effect on his termination date until paid. 
 b. Release Payments. In the event that Executive is required to execute
a release to receive any payments from the Company that constitute nonqualified deferred compensation under Section 409A of the Code and Executive’s termination date and the Release Deadline (or the end of the revocation period, if any)
fall in two separate calendar years, any payments required to be made to Executive (or Executive’s estate) in the earlier year that are treated as 

  
 - 11 - 

 
nonqualified deferred compensation for purposes of Code Section 409A shall be deferred and paid in the later calendar year. Any payments which are delayed under this provision shall be paid
to Executive in a lump sum not later than the date of the Company’s first full payroll cycle after the Release Deadline (or the end of the revocation period, if any) and in any case not later than the end of the applicable month. Any payments
that are deferred pursuant to this provision shall bear interest at the LIBOR rate in effect on his termination date until paid. 
 c.
Reimbursement Payments. The following rules shall apply to payments of any amounts under this Agreement that are treated as “reimbursement payments” under Section 409A of the Code: (i) the amount of expenses eligible for
reimbursement in one calendar year shall not limit the available reimbursements for any other calendar year (other than an arrangement providing for the reimbursement of medical expenses referred to in Section 105(b) of the Code);
(ii) Executive shall file a claim for all reimbursement payments not later than 30 days following the end of the calendar year during which the expenses were incurred; (iii) Company shall make such reimbursement payments within 30 days
following the date Executive delivers written notice of the expenses to Company; and (iv) Executive’s right to such reimbursement payments shall not be subject to liquidation or exchange for any other payment or benefit. 

d. Separation from Service. For purposes of this Agreement, any reference to “termination” of Executive’s employment
shall be interpreted consistent with the meaning of the term “separation from service” in Section 409A(a)(2)(A)(i) of the Code and no portion of the Severance Payments shall be paid to Executive prior to the date Executive incurs a
separation from service under Section 409A(a)(2)(A)(i). 
 e. General. Notwithstanding any provisions of this Agreement
relating to the timing of any benefits or payments, to the extent required to comply with applicable law, including Section 409A of the Code, or to prevent the imposition of any excise taxes or penalties on Company or Executive, the
commencement of payment or provision of any payment or benefit shall be deferred to the minimum extent necessary so as to comply with any such law or to avoid the imposition of any such excise tax or penalty. 

f. Death. If Executive dies after his termination of employment but before all payments due under this Agreement have been made, such
payments shall be made to Executive’s estate. 
 29. LEGAL FEES: The Company shall reimburse Executive for his reasonable legal
fees incurred in advising him before signing with respect to review of this Agreement. 
 [Signature Page Follows] 

  
 - 12 - 

 IN WITNESS WHEREOF, the Company and Executive have executed this Agreement in multiple originals
to be effective for all purposes as of the Effective Date. 
  

									
	RIGNET, INC.	 		 		 	“EXECUTIVE”
				
	 /s/ Charles E. Schneider
	 		 		 	 /s/ Steven E. Pickett

	Name:	 	 Charles E. Schneider
	 		 		 	Steven E. Pickett
	Title:	 	 SJP iCFO
	 		 		 	
			
	This May     , 2016	 		 	This May 31, 2016

  

  
 [Signature Page to
Employment Agreement] 

 Exhibit A 

to Employment Agreement 

between RigNet, Inc. 
 and
the Executive Named Below 
  

			
	Name:	  	Steve E. Pickett
		
	Position:	  	Chief Executive Officer and President
		
	Reporting:	  	Executive shall report solely to the Board of Directors of the Company. All other employees shall report to Executive, except: (1) the Chief Financial Officer and the General Counsel, both of whom shall, in addition to reporting
to Executive, also report to the Audit Committee of the Board; and (2) the Director of Internal Audit and the Internal Audit Department, which shall report directly to the Audit Committee of the Board, with only an administrative reporting line to
Executive.
		
	Term:	  	The Term of the Agreement shall be three years, commencing on May 31, 2016 and ending on May 31, 2019 unless earlier terminated under Section 7 of the Agreement; provided, however, that on or before December 1, 2018 (but not
before November 1, 2018), the Company shall either (a) offer the Executive the option to extend the term of the Agreement for an additional 12 months or (b) provide notice of termination with severance in the form of continuation of the monthly
amount (1/12th) equal to the sum of Executive’s then-current Annual Base Salary plus Annual Bonus at target for 12 months from the date of termination beginning on the first regular payroll
date after six months after the date of termination (subject to offset for any compensation earned by Executive from any other employment or consulting arrangement during that 12 month period) and with that first payment after the six month waiting
period including all consideration that would have been paid if the six month waiting period had not occurred. The Executive shall have 30 days to accept the Company’s offer or it will be deemed rejected. If rejected, the Executive shall
receive no severance upon termination of his employment.
		
	Annual Base Salary:	  	$485,000.00. Executive’s base salary may be increased from time to time, but as increased may not be thereafter decreased.
		
	Annual Bonus:	  	Commencing on January 1, 2017 and the first day of each subsequent calendar year of the Company (each calendar year being a “Bonus Period”), Executive shall participate in the Company’s annual bonus program (Short
Term Incentive

  
 A-1 

			
		  	Program or “STIP”) for such Bonus Period, subject to the STIP’s terms. Executive’s target bonus potential for a Bonus Period shall not be less than 100% of his annual base salary. The Company shall pay
Executive his bonus amount, if any, for a Bonus Period during the immediately following calendar year, and not later than when the other STIP participants are paid.
		
	Contingent Compensation	  	For 2016, a one-time payment 7/12 multiplied by 100% of Executive’s Annual Base Salary. Executive shall receive this Contingent Compensation on or before January 15, 2017.
		
	Equity Grants:	  	 One-time equity award grants equal to 7/12ths of Executive’s Annual Base Salary, (pro-rated in 2016 from May 31, 2016). 70% of which
shall be in the form of restricted stock units and 30% shall be in the form of performance unit awards, in each case under the Company’s long-term incentive plan (“LTIP”). Any provision in Section 9 notwithstanding, these awards shall
not accelerate upon a Change of Control.
  
 Executive shall be eligible to receive
periodic equity grants under the terms of the Company’s LTIP with a value, to be determined in the sole discretion of the Company’s Board of Directors or its Compensation Committee, as applicable, ranging from 0% to 250% of
Executive’s Annual Base Salary, with target at 100%.

		
	Cash Severance Amount:	  	Two times the sum of (i) the target Annual Bonus for the year and (ii) Executive’s then annual base salary.
		
	Signing Bonus	  	Options to purchase 100,000 shares of common stock of the Company, priced according to the normal practice of the Company. They shall vest over a period of 4 years, vesting 25% at the annual anniversary of the grant.
		
	Relocation Requirement	  	Executive is required to relocate to the Houston, Texas metro area on or before March 31, 2017.
		
	Relocation Compensation	  	 Executive shall receive the benefits available to Executives under the standard policies of the Company’s Executive new Hire U.S.
Relocation Policy, provided that the limit shall be increased to $100,000 for sale of house expenses in accordance with the policy.

  
 A-2 

			
		  	 In addition, Executive shall receive, contingent upon Executive relocating to the Houston, Texas metro area on or before March 31,
2017:
  
 •    Use by
Executive of an existing Company executive apartment, or reimbursement for the rent on an executive apartment selected by or approved by the Company, for a maximum of one year from June 1, 2016.

 
 Reimbursement for reasonable expenses related to three trips of
Executive and spouse to Houston, Texas to search for a house.

  
 A-3 

 Exhibit B 

to Employment Agreement 

between RigNet, Inc. 
 and
the Executive Named Below 
 The following parishes in Louisiana are included in the Geographic Area applicable to the non-competition provision in
Section 13(a). 
 Acadia 

Allen 
 Ascension 

Assumption 
 Avoyelles 

Beauregard 
 Bienville 

Bossier 
 Caddo 

Calcasieu 
 Caldwell 

Cameron 
 Catahoula 

Claiborne 
 Concordia 

DeSoto 
 East Baton Rouge 

East Carroll 
 East Feliciana 

Evangeline 
 Franklin 

Grant 
 Iberia 

Iberville 
 Jackson 

Jefferson 
 Jefferson Davis 

Lafayette 
 Lafourche 

LaSalle 
 Lincoln 

Livingston 
 Madison 

Morehouse 
 Natchitoches 

Orleans 
 Ouachita 

Plaquemines 
 Pointe Coupee 

  
 B-1 

 Rapides 

Red River 
 Richland 

Sabine 
 St. Bernard 

St. Charles 
 St. Helena 

St. James 
 St. John 

St. Landry 
 St. Martin 

St. Mary 
 St. Tammany 

Tangipahoa 
 Tensas 

Terrebonne 
 Union 

Vermilion 
 Vernon 

Washington 
 Webster 

West Baton Rouge 
 West Carroll

 West Feliciana 
 Winn 

  
 B-2 

 Exhibit C 

to Employment Agreement 

between RigNet, Inc. 
 and
the Executive Named Below 
 RELEASE OF CLAIMS AGREEMENT 

This Release of Claims Agreement (this “Agreement”) is entered into between RigNet, Inc. (“Employer”) and
Steven E. Pickett (“Executive”) (Employer and Executive are collectively referred to herein as the “Parties”) as of             ,
20     (the “Execution Date”). 
 This Agreement is executed in connection with the termination
of Executive’s Employment under that certain Employment Agreement between Employer and Executive dated [DATE], as amended (the “Employment Agreement”). Executive’s last day of employment with Employer is [DATE] (the
“Separation Date”). After the Separation Date, Executive will not represent himself as being an Executive, officer, director, attorney, agent or representative of Employer for any purpose. Except as otherwise set forth in this
Agreement and the Employment Agreement, the Separation Date will be the employment termination date for Executive for all purposes, meaning Executive will no longer be entitled to any further compensation, monies or other benefits from Employer,
including coverage under any benefits plans or programs sponsored by Employer. 
 1. Return of Property. By the date of Executive’s termination
from Employer, Executive must return all company property, including identification cards or badges, access codes or devices, keys, laptops, computers, telephones, mobile phones, hand-held electronic devices, credit cards, electronically stored
documents or files, physical files and any other Employer property in Executive’s possession. 
 2. Executive Representations. In exchange for
the severance consideration described in the Employment Agreement, which Executive acknowledges to be good and valuable consideration for his obligations hereunder, Executive hereby represents that he intends to irrevocably and unconditionally fully
and forever release and discharge any and all claims he may have, has ever had or may in the future have against Employer arising out of or in any way related to his hire, benefits, employment or separation from employment with Employer. Executive
specifically represents, warrants and confirms that: (a) he has no claims, complaints or actions of any kind filed against Employer with any court of law, or local, state or federal government or agency; (b) he has been properly paid for
all hours worked for Employer, and that all commissions, bonuses and other compensation due to him has been paid, including his final payroll check for his salary and any other unpaid compensation through the Separation Date above, which will be
paid on the next regularly scheduled payroll date. Any vested benefits under any of Employer’s Executive benefit plans are excluded and shall be governed by the terms of the applicable plan document and award agreements, as amended by
applicable amendments in the Employment Agreement. Executive specifically represents, warrants and confirms that he has not engaged in, and is not aware of, any unlawful conduct in relation to the business of Employer. If any of these statements are
not true, Executive cannot sign this Agreement and must notify Employer immediately, in writing, of the statements that are not true. Such notice will not automatically disqualify Executive from receiving these benefits, but will require Employer
review and consideration. 

  
 C-1 

 3. General Release and Waiver of Claims. 

(a) In exchange for the consideration provided in the Employment Agreement, Executive and his heirs, executors, representatives, agents,
insurers, administrators, successors and assigns (collectively the “Releasors”) irrevocably and unconditionally fully and forever waive, release and discharge Employer and all subsidiaries and affiliates of Employer (collectively,
the “Employer Group”) from any and all claims, demands, actions, causes of actions, obligations, judgments, rights, fees, damages, obligations, liabilities and expenses (inclusive of attorneys’ fees) of any kind whatsoever,
whether known or unknown, (collectively “Claims”), including, without limitation, any Claims under any federal, state, local or foreign law, that Releasors may have, have ever had or may in the future have arising out of, or in any
way related to (i) Executive’s hire, benefits, employment, termination or separation from employment with Employer Group and (ii) any actual or alleged act, omission, transaction, practice, conduct, occurrence or other matter that
existed or arose on or before, and including, the date of his execution of this Agreement, including, but not limited to (A) any claims under Title VII of the Civil Rights Act, as amended, the Americans with Disabilities Act, as amended, the
Equal Pay Act, as amended, Employee Retirement Income Security Act, as amended (with respect to unvested benefits), the Civil Rights Act of 1991, as amended, Section 1981 of U.S.C. Title 42, the Sarbanes-Oxley Act of 2002, as amended, the
Worker Adjustment and Retraining Notification Act, as amended, the Older Workers’ Benefit Protection Act, the Fair Labor Standards Act, the National Labor Relations Act, the Fair Credit Reporting Act, the Texas Commission on Human Rights Act,
the Texas Workers’ Compensation Act, any claims arising under the Texas Labor Code that may be legally waived and released including the Texas Payday Act, the Texas Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, the Texas
Whistleblower Act and amendments to those laws as well as any claims under local statutes and ordinances that may be legally waived and released, and/or any other Federal, state or local law (statutory, regulatory or otherwise) that may be legally
waived and released governing Executive’s employment with Employer Group or Executive’s rights, or Employer Group’s obligations, in connection with any of the foregoing; and (B) any tort and/or contract and quasi-contract claims,
including, but not limited to, any claims of tortious interference with contract, claims for promissory estoppel or detrimental reliance, claims for wages, bonuses, incentive compensation and severance allowances or entitlements, wrongful discharge,
all claims for fraud, slander, libel, defamation, disparagement, intentional infliction of emotional distress, invasion of privacy, non-physical injury, personal injury or sickness or any other harm; negligence, compensatory or punitive damages, or
any other claim for damages or injury of any kind whatsoever, and all claims for monetary recovery, including, without limitation, attorneys’ fees, experts’ fees, medical fees or expenses, costs and disbursements. However, this general
release of claims excludes and Executive does not waive, release or discharge any (1) right to file an administrative charge or complaint with the Equal Employment Opportunity Commission, the Texas Workforce Commission Civil Rights Division, or
other administrative agency, although Executive waives any right to monetary relief related to such a charge; (II) claims under state workers’ compensation or unemployment laws; or (III) indemnification rights Executive has against Employer
Group, and/or any other claims that cannot be waived by law. 

  
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 (b) In further consideration of the payments and benefits provided to Executive in this
Agreement, the Releasors hereby irrevocably and unconditionally fully and forever waive, release and discharge Employer Group from any and all Claims, whether known or unknown, from the beginning of time to the date of Executive’s execution of
this Agreement arising under the Age Discrimination in Employment Act, including the Older Workers Benefit Protection Act (“ADEA”), as amended, and its implementing regulations. 

4. Knowing and Voluntary Acknowledgement. By signing this Agreement, Executive hereby acknowledges and confirms that: (i) Executive has read this
Agreement in its entirety and understands all of its terms; (ii) Executive has been advised of and has availed himself of his right to consult with his attorney prior to executing this Agreement; (iii) Executive knowingly, freely and
voluntarily assents to all of the terms and conditions set out in this Agreement including, without limitation, the waiver, release and covenants contained herein; (iv) Executive is executing this Agreement, including the waiver and release, in
exchange for good and valuable consideration in addition to anything of value to which he is otherwise entitled; (v) Executive was given at least 21 days to consider the terms of this Agreement and consult with an attorney of his choice,
although he may sign it sooner if desired; (vi) Executive understands that he has seven days from the date he signs this Agreement to revoke the release in this paragraph by delivering notice of revocation in accordance with
Section 16 below before the end of such seven-day period; (vii) Executive understands that the release contained in these Sections 3 and 4 does not apply to rights and claims that may arise after the date on which Executive signs this
Agreement; and (viii) Executive understands that the waiver and release in this Agreement is being requested in connection with the cessation of his employment with Employer Group. This Agreement shall not become effective, until the eighth
day after Executive and Employer execute this Agreement. Such date shall be the Effective Date of this Agreement. No payments due to Executive hereunder shall be made or begin before the Effective Date. In the event of revocation by Executive as
described in clause (vi) above, the Employer shall have the option of treating this Agreement as null and void in its entirety. 
 5.
Confidentiality. Executive agrees and covenants that he shall not disclose any of the terms of or amount paid under this Agreement or the Employment Agreement or the negotiation hereof and thereof to any individual or entity; provided,
however, that Executive will not be prohibited from making disclosures to his attorney, tax advisors and/or immediate family members, or as may be required by law. 

6. Remedies. In the event of a breach or threatened breach by Executive of any of the provisions of this Agreement, Executive hereby consents and
agrees that Employer shall be entitled to seek, in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the
necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal
remedies, monetary damages or other available forms of relief. 
 Should Executive fail to abide by any of the terms of this Agreement or
post-termination obligations contained herein, or if he revokes the ADEA release contained in Section 3(b) within the seven-day revocation period described in Section 4, Employer may, in addition to any other

  
 C-3 

 
remedies it may have, reclaim any amounts paid to Executive under the provisions of this Agreement or terminate any benefits or payments that are later due under this Agreement, without waiving
the releases provided herein. 
 7. Successors and Assigns. 

(a) Assignment by Employer. 
 To
the extent permitted by state law, Employer may assign this Agreement to any subsidiary or corporate affiliate, or to any successor or assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all
of the business or assets of Employer. This Agreement shall inure to the benefit of Employer and permitted successors and assigns. 
 (b) No
Assignment by Executive. 
 Executive may not assign this Agreement or any part hereof, it being understood that this Agreement is personal
to Executive. Any purported assignment by Executive shall be null and void from the initial date of purported assignment. 
 8. Arbitration. Any
dispute about the validity, interpretation, effect or alleged violation of this Agreement (an “arbitrable dispute”) must be submitted to confidential arbitration in Houston, Texas. Arbitration shall take place before an experienced
employment arbitrator licensed to practice law in such state and selected in accordance with the Model Employment Arbitration Procedures of the American Arbitration Association. Arbitration shall be the exclusive remedy of any arbitrable dispute.
Employer shall bear all fees, costs and expenses of arbitration, including those of Executive unless the arbitrator finds that Executive has acted in bad faith and provides otherwise with respect to the fees, costs and expenses of Executive;
provided, however, in no event shall Executive be chargeable with the fees, costs and expenses of Employer or the arbitrator. Should any Party to this Agreement pursue any arbitrable dispute by any method other than arbitration, the other Party
shall be entitled to recover from the Party initiating the use of such method all damages, costs, expenses and attorneys’ fees incurred as a result of the use of such method. Notwithstanding anything herein to the contrary, nothing in this
Agreement shall purport to waive or in any way limit the right of any Party to seek to enforce any judgment or decision on an arbitrable dispute in a court of competent jurisdiction. Each Party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts in Houston, Texas, for the purposes of any proceeding arising out of this Agreement. 
 This
agreement to arbitrate is freely negotiated between Executive and Employer and is mutually entered into between the Parties. Both Parties fully understand and agree that they are giving up certain rights otherwise afforded to them by civil court
actions, including but not limited to the right to a jury trial. 
 9. Governing Law: Jurisdiction and Venue. This Agreement, for all purposes, shall
be construed in accordance with the laws of Texas without regard to conflicts-of-law principles. Any action or proceeding by either of the Parties to enforce this Agreement shall be brought only in any state or federal court located in Houston,
Texas. The Parties hereby irrevocably submit to the exclusive jurisdiction of such courts and waive the defense of inconvenient forum to the maintenance of any such action or proceeding in such venue. 

  
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 10. Entire Agreement. Unless specifically provided herein, this Agreement and the Employment Agreement
contain all the understandings and representations between Executive and Employer pertaining to the subject matter hereof and supersede all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral,
with respect to such subject matter. The Parties mutually agree that this Agreement and the Employment Agreement can be specifically enforced in court and can be cited as evidence in legal proceedings alleging breach of this Agreement or the
Employment Agreement. 
 11. Modification and Waiver. No provision of this Agreement may be amended or modified unless such amendment or modification
is agreed to in writing and signed by Executive and Employer. No waiver by either of the Parties of any breach by the other party hereto of any condition or provision of this Agreement to be performed by the other party hereto shall be deemed a
waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent time, nor shall the failure of or delay by either of the Parties in exercising any right, power or privilege hereunder operate as a waiver thereof to
preclude any other or further exercise thereof or the exercise of any other such right, power or privilege. 
 12. Severability. Should any provision
of this Agreement be held by a court of competent jurisdiction to be enforceable only if modified, or if any portion of this Agreement shall be held as unenforceable and thus stricken, such holding shall not affect the validity of the remainder of
this Agreement, the balance of which shall continue to be binding upon the Parties with any such modification to become a part hereof and treated as though originally set forth in this Agreement. 

The Parties further agree that any such court is expressly authorized to modify any such unenforceable provision of this Agreement in lieu of
severing such unenforceable provision from this Agreement in its entirety, whether by rewriting the offending provision, deleting any or all of the offending provision, adding additional language to this Agreement or by making such other
modifications as it deems warranted to carry out the intent and agreement of the Parties as embodied herein to the maximum extent permitted by law. 

The Parties expressly agree that this Agreement as so modified by the court shall be binding upon and enforceable against each of them. In any
event, should one or more of the provisions of this Agreement be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions hereof, and if such provision or
provisions are not modified as provided above, this Agreement shall be construed as if such invalid, illegal or unenforceable provisions had not been set forth herein. 

13. Captions. Captions and headings of the sections and paragraphs of this Agreement are intended solely for convenience and no provision of this
Agreement is to be construed by reference to the caption or heading of any section or paragraph. 
 14. Counterparts. This Agreement may be executed
in counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. 

  
 C-5 

 15. Nonadmission. Nothing in this Agreement shall be construed as an admission of wrongdoing or liability
on the part of Employer. 
 16. Notices. Notices and all other communications shall be in writing and shall be deemed to have been duly given when
personally delivered or when mailed by United States registered or certified mail. Notices to Employer shall be sent to 1880 South Dairy Ashford, Suite 300, Houston, Texas 77077 attention: General Counsel. Notices and communications to Executive
shall be sent to the address Executive most recently provided to Employer. 
 17. Section 409A. This Agreement is intended to comply with
Section 409A of the Internal Revenue Code of 1986, as amended (Section 409A) or an exemption thereunder and shall be construed and administered in accordance with Section 409A. Notwithstanding any other provision of this Agreement,
payments provided under this Agreement may only be made upon an event and in a manner that complies with Section 409A or an applicable exemption. Any payments under this Agreement that may be excluded from Section 409A either as separation
pay due to an involuntary separation from service or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of Section 409A, each installment payment provided under this Agreement shall be
treated as a separate payment. Any payments to be made under this Agreement upon a termination of employment shall only be made upon a “separation from service” under Section 409A. Notwithstanding the foregoing, Employer makes no
representations that the payments and benefits provided under this Agreement comply with Section 409A and in no event shall Employer be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by
Executive on account of non-compliance with Section 409A. 
 18. Acknowledgment of Full Understanding. EXECUTIVE ACKNOWLEDGES AND AGREES THAT HE
HAS FULLY READ, UNDERSTANDS AND VOLUNTARILY ENTERS INTO THIS AGREEMENT. EXECUTIVE ACKNOWLEDGES AND AGREES THAT HE HAS HAD AN OPPORTUNITY TO ASK QUESTIONS AND CONSULT WITH AN ATTORNEY OF HIS CHOICE BEFORE SIGNING THIS AGREEMENT. EXECUTIVE FURTHER
ACKNOWLEDGES THAT HIS SIGNATURE BELOW IS AN AGREEMENT TO RELEASE EMPLOYER FROM ANY AND ALL CLAIMS. 
 [SIGNATURE PAGE FOLLOWS] 

  
 C-6 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Execution Date above. 

 

			
	RIGNET, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

			
	Signature:	 	 /s/ Steven E. Pickett

		 	Steven E. Pickett

  
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