Document:

Placement Agency Agreement

 Exhibit 10.3 
 Empire Asset Management Company 
 2 Rector Street, 15th Floor 
 New York, NY 10006 
 October 24, 2008 
 Cardium Therapeutics, Inc. 
 InnerCool Therapies, Inc. 
 Tissue Repair Company 
 12255 El Camino Real, Suite 250 
 San Diego, CA 92130 
 Re:     Placement Agency Agreement 
 Gentlemen: 
 The undersigned, Cardium Therapeutics, Inc., a Delaware corporation (the “Cardium”), together with its wholly-owned subsidiaries
InnerCool Therapies, Inc. and Tissue Repair Company (collectively, the “Subsidiaries” and together with Cardium, the “Borrowers”) desire to offer for sale (the “Offering”) to certain
“accredited investors” (each, an “Investor” and, collectively, the “Investors”) through Empire Asset Management Company (“Empire” or the “Placement Agent”) a minimum of
$5,000,000 of principal amount of Senior Secured Promissory Notes (the “Minimum Amount”) and up to a maximum of $6,000,000 of principal amount of Senior Secured Promissory Notes (the “Maximum Amount”). Each Senior
Secured Promissory Note is sometimes referred to as a “Note” and collectively as the “Notes”). In connection with its investment, Cardium will issue to the Investors warrants to purchase shares of its common stock,
par value $0.0001 per share (the “Common Stock”) equal to Three Hundred Percent (300%) of the Principal Amount of Notes purchased divided by the initial exercise price of $2.00 per share (each, a “Warrant” and
collectively, the “Warrants”), subject to adjustment as further described in the Warrants. The Notes and Warrants are hereinafter collectively referred to as the “Securities.” 
 The offering of the Securities will be made by the Borrowers pursuant to that certain Note and Warrant Purchase Agreement, inclusive of all exhibits and
schedules thereto, and all amendments, supplements and appendices thereto (the “Transaction Documents/Offering Materials”). Unless otherwise defined, each term used in this Agreement will have the same meaning as set forth in the
Note and Warrant Purchase Agreement. 
 1. Agreement to Act as Placement Agent. The Borrowers hereby appoint Empire to act as their
exclusive placement agent in connection with the Offering. Empire hereby agrees, as agent of the Borrowers, to solicit offers to purchase the Securities on a “reasonable efforts” basis. The Offering will commence on the date hereof and
will continue until November 28, 2008, unless extended by the Borrowers and the Placement 

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Agent until December 31, 2008 or terminated earlier as provided herein (the “Offering Period”). The date on which the Offering shall
terminate shall be referred to as the “Termination Date.” Prior to the Termination Date, the Borrowers shall not, without the prior written consent of the Placement Agent, solicit or accept offers to purchase the Securities
otherwise than through the Placement Agent in accordance herewith. 
 2. Representations and Warranties of the Borrowers. Each
Borrower represents and warrants to the Placement Agent as follows: 
 (a) With respect to actions taken by any Borrower, the
Securities will be offered and sold pursuant to the registration exemption provided by Regulation D (“Regulation D”) as promulgated under Section 4(2) of the Securities Act of 1933, as amended (the “Act”) and
Section 4(2) and/or Section 4(6) of the Act as a transaction not involving a public offering and the requirements of any other applicable state securities laws and the respective rules and regulations thereunder in those jurisdictions in
which the Placement Agent notifies Cardium that the Securities are being offered for sale. None of the Borrowers have taken nor will it take any action which conflicts with the conditions and requirements of, or which would make unavailable with
respect to the Offering, the exemption(s) from registration available pursuant to Regulation D or Section 4(2) and/or Section 4(6) of the Act, and knows of no reason why any such exemption would be otherwise unavailable to it. No Borrower
has been subject to any order, judgment or decree of any court of competent jurisdiction temporarily, preliminarily or permanently enjoining it for failing to comply with Section 503 of Regulation D. 
 (b) None of the statements, documents, certificates or other items prepared or supplied by the Borrowers with respect to the transactions
contemplated hereby contains an untrue statement of a material fact or omits to state a material fact necessary to make the statements contained therein not misleading in light of the circumstances in which they were made. Through the Transaction
Documents/Offering Materials, the Borrowers have disclosed to potential investors all facts of which the Borrowers is aware which materially and adversely affects or could reasonably be expected to materially and adversely affect the business
prospects, financial condition, operations, property or affairs of the Borrowers taken as a whole. 
 (c) Except as set forth
in the Transaction Documents/Offering Materials, the Borrowers is not obligated to pay, and has not obligated the Placement Agent to pay, a finder’s or origination fee in connection with the Offering to anyone other than the Placement Agent and
hereby agrees to indemnify the Placement Agent from any such claim made by any other person. The Borrowers have not offered for sale or solicited offers to purchase the Securities except for negotiations with the Placement Agent. No other person has
any right to participate in any offer, sale or distribution of the Borrowers’s securities to which the Placement Agent’s rights, described herein, shall apply. 
 (d) Immediately prior to the Closing, the Agent’s Warrants (as defined in Section 3(e) hereof) will have been duly authorized.
No holder of any of the Agent’s Warrants will be subject to personal liability solely by reason of being such a holder. None 

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of the Agent’s Warrants are subject to preemptive or similar rights of any stockholder or security holder of Cardium or an adjustment under the
antidilution or exercise rights of any holders of any outstanding shares of capital stock, options, warrants or other rights to acquire any securities of Cardium. Immediately prior to the Closing, a sufficient number of authorized but unissued
shares of Cardium’s Common Stock will have been reserved for issuance upon the exercise of the Agent’s Warrants. 
 (e) The Borrowers have all requisite corporate power and authority to (i) enter into and perform its obligations under this Agreement and (ii) issue, sell and deliver the Securities and the Agent’s Warrants. This Agreement
has been duly authorized, executed and delivered and constitutes valid and binding obligations of the Borrowers, enforceable against the Borrowers in accordance with its terms (i) except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect related to laws affecting creditors’ rights generally, including the effect of statutory and other laws regarding fraudulent conveyances and
preferential transfers, and except that no representation is made herein regarding the enforceability of the Borrowers’ obligations to provide indemnification and contribution remedies under the securities laws and (ii) subject to the
limitations imposed by general equitable principles (regardless of whether such enforceability is considered in a proceeding at law or in equity). 
 (f) For the benefit of the Placement Agent, the Borrowers hereby incorporate by reference all of their representations and warranties as set forth in Section 4 of the Note and Warrant Purchase Agreement with the
same force and effect as if specifically set forth herein. 
 3. Closing; Fees. 
 (a) Closing. Each prospective purchaser of Securities will be required to complete and execute one original of the Note and Warrant
Purchase Agreement and the Investor Questionnaire in the forms provided to investors. All funds for subscriptions received from the Offering will be promptly forwarded by the Placement Agent, if received by it, to and deposited into the escrow
account (the “Escrow Account”) established for such purpose with Signature Bank, a New York State chartered bank, 261 Madison Avenue, New York NY 10016 (the “Escrow Agent”). All such funds for purchase of Securities
will be held in the Escrow Account pursuant to the terms of the Escrow Agreement among Cardium, the Placement Agent and the Escrow Agent. The Borrowers will either accept or reject subscriptions for the purchase of Securities in a timely fashion and
at each closing of the purchase and sale of the Securities (each, a “Closing”) will countersign the Transaction Documents and provide duplicate copies of such Transaction Documents (originals in the case of the Notes and Warrants)
to the Placement Agent for distribution to the subscribers. If the Borrowers and Placement Agent has received and accepted subscriptions for the Minimum Amount prior to the Termination Date and is satisfied that the funds for such Securities have
been collected and all of the conditions set forth elsewhere in this Agreement and in the Note and Warrant Purchase Agreement are 

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fulfilled, a Closing shall be held promptly with respect to the Securities sold. Thereafter, the remaining Securities will continue to be offered and sold
until the Termination Date. Additional Closings may from time to time be conducted at times mutually agreeable with respect to additional Securities sold. The final Closing (the “Final Closing”) shall occur within ten (10) days
from the earlier of the Termination Date or the Borrowers’ acceptance of subscriptions for all Securities offered. Delivery of payment for the accepted subscriptions for Securities from the funds received in respect of such sales will be made
at each Closing at such place as may be mutually agreed upon between Cardium and the Placement Agent against delivery of the Securities by the Borrowers. If subscriptions for the Minimum Amount have not been received and accepted by the Borrowers on
or before the Termination Date, the Offering may be terminated by the Placement Agent and the Borrowers and no Securities will be sold, and the Escrow Agent will, at the request of the Placement Agent and Cardium, cause all monies received from
purchasers for the Securities to be promptly returned to such purchasers without interest, penalty, expense or deduction. 
 (b) Agents Fee. Cardium will pay a cash placement fee (the “Agent’s Fee”) to the Placement Agent at each Closing equal to five percent (5%) of the aggregate gross proceeds from the sale of all Securities
sold in the Offering. Notwithstanding the foregoing, no Agent’s Fee will be paid on $845,000 of funds either (i) previously advanced to the Company or (ii) in the form of salary deferrals, which certain officers have agreed to forego
in consideration of Note and Warrant issuances pursuant to the Note and Warrant Purchase Agreement. 
 (c) Agent’s
Warrants. As additional compensation hereunder, at each Closing, Cardium will issue to the Placement Agent or its designees, warrants (the “Agent’s Warrants”) to purchase such number of shares of Common Stock equal to five
percent (5%) of the shares of Common Stock initially issuable upon exercise of the Warrants issued at such Closing. Notwithstanding the foregoing, no Agent’s Warrants will be issued on $845,000 of funds either (i) previously advanced
to the Company or (ii) in the form of salary deferrals, which certain officers have agreed to forego in consideration of Note and Warrant issuances pursuant to the Note and Warrant Purchase Agreement. The Agent’s Warrants shall have an
exercise price equal to the exercise price contained in the Warrants and shall contain the same provisions (including adjustment provisions) as those contained in the Warrants. At the Placement Agent’s election, Cardium may issue the
Agent’s Warrants all at once at the Final Closing. For the benefit of the Placement Agent, Cardium hereby incorporates by reference the registration rights provisions as set forth in Section 6 of the Purchase Agreement with the same force
and effect as if specifically set forth in the Agent’s Warrants. The Agent’s Warrants and the Agent’s Fee are sometimes collectively referred to herein as the “Agent’s Compensation.” 
 (d) Expenses. The Borrowers shall bear all of their respective expenses in connection with the Offering as further described in
section 4(a) below. Whether or not the Offering is successfully completed for any reason, Empire will be entitled, upon presentation of a written accounting therefor in reasonable detail, to prompt reimbursement 

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of its actual, out-of-pocket expenses related to the Offering, including but not limited to fees and expenses of Empire’s legal counsel, travel
expenses, and due diligence related expenditures (the “Agent Expense Reimbursement”); provided, however, that any travel expenses over five hundred dollars ($500) shall be pre-approved by Cardium prior to being
incurred. The provisions of this paragraph shall survive the Final Closing and any termination of the Offering. 
 (e) EI
Investors Tail. Cardium shall also pay and issue to the Placement Agent the Agent’s Compensation calculated according to the percentages set forth in Sections 3(b) and (c) of this Agreement, if any person or entity to whom the
Placement Agent has introduced (directly or indirectly) to Cardium during the term of this Agreement (“EI Investors”) makes a private investment in Cardium at any time prior to the date that is twelve (12) months after the
termination or expiration of this Agreement regardless of whether such EI Investor purchased Securities in the Offering. 
 4.
Covenants. 
 (a) Borrowers’ Expenses. Cardium shall pay all reasonable expenses incurred in connection
with the preparation and printing of all necessary offering documents and instruments related to the Offering, the issuance of the Securities and will also pay Cardium’s own expenses for accounting fees, legal fees, escrow account fees and
other costs involved with the Offering, including the printing costs, if any, of the Offering documentation. Cardium will provide at its own expense such quantities of the Transaction Documents/Offering Materials and other documents and instruments
relating to the Offering as the Placement Agent may reasonably request. Further, as promptly as practicable after the Final Closing Date, Cardium shall prepare, at its own expense, no more than four “velobound volumes” relating to the
Offering and will distribute such volumes to the individuals designated by counsel to the Placement Agent. 
 (b) Blue
Sky. Cardium will qualify the Securities for sale under the securities laws of such jurisdictions as may be mutually agreed to by Cardium and the Placement Agent, and Cardium will make such applications and furnish information as may be required
for such purposes, provided, that Cardium will not be required or obligated to qualify to do business in any jurisdiction where it is not now so qualified or to take any action which would subject it to service of process in suits, other than
those arising out of the offering or sale of the Securities. 
 Cardium or its counsel will provide counsel for the Placement
Agent with copies of all correspondence or other documentation filed with or received from any jurisdiction where the Securities are to be registered or qualified or offered (including, without limitation, Form D filing with the SEC). In addition,
upon receipt of notification by Cardium of the qualification, registration or exemption of the Securities by an applicable jurisdiction, Cardium will promptly notify counsel for the Placement Agent in writing of such action. 

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 In each jurisdiction where the Securities have been registered or qualified or are
offered in an exempt transaction as provided above, Cardium will make and file such statements, documents, materials, and reports as are or may be required to be made or filed by Cardium by the laws of such jurisdiction. 
 Cardium will promptly provide to the Placement Agent for delivery to all offerees and investors and their representatives any additional
information, documents and instruments which the Placement Agent or Cardium reasonably deem necessary to comply with the rules, regulations and judicial and administrative interpretations respecting compliance with such exemptions or qualifications
and registrations in those states where the Securities are to be offered or sold. 
 Cardium shall place a legend on the
certificates representing the Securities issued to Investors and the Agent’s Warrants stating that the securities evidenced thereby have not been registered under the Act or applicable state securities laws, setting forth or referring to the
applicable restrictions on transferability and sale of such securities under the Act and applicable state laws. 
 (c)
Amendments and Supplements. If, at any time prior to the Final Closing, any event shall occur which does or may materially affect the Borrowers (as a whole) or as a result of which it might become necessary to amend or supplement the
Transaction Documents/Offering Materials so that the representations and warranties herein remain true, or in case it shall, in the opinion of the Placement Agent and its counsel or counsel to Cardium, be necessary to amend or supplement the
Transaction Documents/Offering Materials to comply with Regulation D or any other applicable securities laws or regulations, Cardium will promptly notify the Placement Agent and shall prepare and furnish to the Placement Agent a reasonable number of
copies of appropriate amendments and/or supplements in form and substance satisfactory to the Placement Agent and its counsel. 
 (d) Use of Proceeds. The net proceeds of the Offering will be used by Borrowers for working capital purposes only. 
 (e) Legal Opinion and Closing Certificates. There shall have been delivered to the Placement Agent and the Investors a signed opinion of Morrison & Foerster LLP, counsel to Borrowers (“Company Counsel”),
dated as of each Closing Date, in form and substance reasonably satisfactory to counsel to the Placement Agent. In addition, the Placement Agent shall be entitled to receive copies of the closing certificates required to be delivered pursuant to
Section 2.3 of the Note and Warrant Purchase Agreement. 
 (f) Financial Advisory Relationship. Reference is
hereby made to section 5 of that certain placement agency agreement dated July 17, 2008 between the Placement Agent and the Company pursuant to which the Placement Agent was retained to act as the Company’s principal investment advisor and
banking firm for the period through 

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December 31, 2008. The foregoing terms shall be amended upon consummation of the initial Closing as follows. The Company hereby retains Empire to serve
as its exclusive investment banking firm commencing upon consummation of the initial Closing through April 30, 2009. In such capacity, the Company agrees to consult with Empire with respect to all of its financing needs. The Company
agrees not to initiate contact or otherwise consult directly or indirectly with third party sources of capital with respect to financing matters without first consulting with Empire and obtaining Empire’s written consent to proceed with such
discussions. Empire’s services with respect to the foregoing may include the following: (i) identifying and developing a list of potential offerees, including institutional investors to be contacted by Empire in connection with
soliciting interest in the financing transaction (“Offeree List”); (ii) contacting and seeking to elicit interest from one or more parties on the Offeree List to participate in the financing transaction; (iii) coordinating
inquiries from potential offerees, and assisting in the preparation of additional documents and due diligence as may be requested by potential offerees; (iv) assisting in evaluating and negotiating the terms and conditions of any transaction
and (v) assistance with respect to negotiating documents and facilitation in closing the financing transaction. The Company and Empire shall negotiate in good faith to determine a mutually acceptable level of compensation with respect to
the applicable financing transaction. 
 5. Indemnification. 
 (a) Each of the Borrowers will jointly and severally (i) indemnify and hold harmless the Placement Agent, its sub-agents and their
respective officers, directors, employees and each person, if any, who controls the Placement Agent within the meaning of the Act and such selected dealers (each an “Indemnitee”) against, and pay or reimburse each Indemnitee for,
any and all losses, claims, damages, liabilities or expenses whatsoever (or actions or proceedings or investigations in respect thereof), joint or several (which will, for all purposes of this Agreement, include, but not be limited to, all
reasonable costs of defense and investigation and all reasonable attorneys’ fees and disbursements, including appeals), to which any Indemnitee may become subject (x) under the Act or otherwise, in connection with the offer and sale of the
Securities and (y) as a result of the breach of any representation, warranty or covenant made by the Borrowers herein, regardless of whether such losses, claims, damages, liabilities or expenses shall result from any claim of any Indemnitee or
any third party; and (ii) reimburse each Indemnitee for any legal or other expenses reasonably incurred in connection with investigating or defending against any such loss, claim, action, damage or liability; provided, however,
that the Borrowers will not be liable in any such case to the extent that any such claim, damage or liability results from (A) an untrue statement or alleged untrue statement of a material fact made in the Transaction Documents/Offering
Materials or an omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, made solely in reliance upon and in conformity with written information furnished
to Cardium by the Placement Agent specifically for use in the preparation thereof, or (B) any violations by the Placement Agent of any federal or state securities laws or rules and regulations thereunder or any self-regulatory organization that
does is unrelated to any violation thereof by the Borrowers or any of their respective 

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affiliates. In addition to the foregoing agreement to indemnify and reimburse, the Borrowers will jointly and severally indemnify and hold harmless each
Indemnitee from and against any and all losses, claims, damages, liabilities or expenses whatsoever (or actions or proceedings or investigations in respect thereof), joint or several (which shall for all purposes of this Agreement, include, but not
be limited to, all costs of defense and investigation and all reasonable attorneys’ fees, including appeals) to which any Indemnitee may become subject insofar as such costs, expenses, losses, claims, damages or liabilities arise out of or are
based upon the claim of any person or entity that he or it is entitled to broker’s or finder’s fees from any Indemnitee in connection with the Offering. The foregoing indemnity agreements will be in addition to any liability which the
Borrowers may otherwise have. 
 (b) The Placement Agent will indemnify and hold harmless each Borrower, its officers,
directors, employees and each person, if any, who controls the Borrower within the meaning of the Act against, and pay or reimburse any such person for, any and all losses, claims, damages or liabilities or expenses whatsoever (or actions,
proceedings or investigations in respect thereof) to which the Borrower or any such person may become subject under the Act or otherwise, whether such losses, claims, damages, liabilities or expenses shall result from any claim of the Borrower, any
of its officers, directors, employees, agents, or any person who controls the Borrower within the meaning of the Act or any third party, but only to the extent that such losses, claims, damages or liabilities are based upon any untrue statement or
alleged untrue statement of any material fact contained in the Transaction Documents/Offering Materials made in reliance upon and in conformity with information contained in the Transaction Documents/Offering Materials relating to the Placement
Agent, or an omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in either case, if made or omitted in reliance upon and in conformity with written
information furnished to Cardium by the Placement Agent, specifically for use in the preparation thereof. The Placement Agent will reimburse the Borrowers or any such person for any legal or other expenses reasonably incurred in connection with
investigating or defending against any such loss, claim, damage, liability or action, proceeding or investigation to which such indemnity obligation applies. The foregoing indemnity agreements will be in addition to any liability which the Placement
Agent may otherwise have. 
 (c) Promptly after receipt by an indemnified party under this Section 5 of notice of the
commencement of any action, claim, proceeding or investigation (the “Action”), such indemnified party, if a claim in respect thereof is to be made against the indemnifying party under this Section 5, will notify the
indemnifying party of the commencement thereof, but the omission to so notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party under this Section 5 except to the extent that the
indemnifying party has been actually prejudiced by such omission. The indemnifying party will be entitled to participate in, and, to the extent that it may wish, jointly with any other indemnifying party, to assume the defense thereof subject to the
provisions herein stated, with counsel reasonably satisfactory to such indemnified party. The indemnified party will have the right to employ separate counsel in any such 

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Action and to participate in the defense thereof, but the fees and expenses of such counsel will not be at the expense of the indemnifying party if the
indemnifying party has assumed the defense of the Action with counsel reasonably satisfactory to the indemnified party, provided, however, that if the indemnified party shall be requested by the indemnifying party to participate in the
defense thereof or shall have concluded in good faith and specifically notified the indemnifying party either that there may be specific defenses available to it which are different from or additional to those available to the indemnifying party or
that such Action involves or could have a material adverse effect upon it with respect to matters beyond the scope of the indemnity agreements contained in this Agreement, then the counsel representing it, to the extent made necessary by such
defenses, shall have the right to direct such defenses of such Action on its behalf and in such case the reasonable fees and expenses of such counsel in connection with any such participation or defenses shall be paid by the indemnifying party. No
settlement of any Action against an indemnified party will be made without the consent of the indemnifying party and the indemnified party, which consent shall not be unreasonably withheld or delayed in light of all factors of importance to such
party and no indemnifying party shall be liable to indemnify any person for any settlement of any such claim effected without such indemnifying party’s consent. 
 6. Contribution. To provide for just and equitable contribution, if (i) an indemnified party makes a claim for indemnification pursuant to Section 5 hereof and it is finally determined, by a judgment,
order or decree not subject to further appeal that such claims for indemnification may not be enforced, even though this Agreement expressly provides for indemnification in such case; or (ii) any indemnified or indemnifying party seeks
contribution under the Act, the Securities Exchange Act of 1934, as amended (the “1934 Act”) or otherwise, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as
is appropriate to reflect not only such relative benefits but also the relative fault of the Borrowers on the one hand and the Placement Agent on the other in connection with the statements or omissions which resulted in such losses, claims,
damages, liabilities or expenses (or actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits received by the Borrowers on the one hand and the Placement Agent on the other shall be deemed to be in
the same proportion as the total net proceeds from the Offering (before deducting expenses) received by the Borrowers bear to the total commissions and fees actually received by the Placement Agent. The relative fault, in the case of an untrue
statement, alleged untrue statement, omission or alleged omission will be determined by, among other things, whether such statement, alleged statement, omission or alleged omission relates to information supplied by the Borrowers or by the Placement
Agent, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement, alleged statement, omission or alleged omission. The Borrowers and the Placement Agent agree that it would be unjust
and inequitable if the respective obligations of the Borrowers and the Placement Agent for contribution were determined by pro rata allocation of the aggregate losses, liabilities, claims, damages and expenses or by any other method or
allocation that does not reflect the equitable considerations referred to in this Section 6. No person guilty of a fraudulent misrepresentation (within the meaning of 

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Section 11(f) of the Act) will be entitled to contribution from any person who is not guilty of such fraudulent misrepresentation. For purposes of this
Section 6, each person, if any, who controls the Placement Agent within the meaning of the Act will have the same rights to contribution as the Placement Agent, and each person, if any, who controls the Borrowers within the meaning of the Act
will have the same rights to contribution as the Borrowers, subject in each case to the provisions of this Section 6. Anything in this Section 6 to the contrary notwithstanding, no party will be liable for contribution with respect to the
settlement of any claim or action effected without its written consent. This Section 6 is intended to supersede, to the extent permitted by law, any right to contribution under the Act, the 1934 Act or otherwise available. 
 7. Due Diligence and Company Cooperation. The Borrowers shall make members of management and other employees, advisors and agents available to
Empire as Empire shall reasonably request. The Borrowers shall cooperate with the Placement Agent in connection with, and shall make available to the Placement Agent, historic, current and prospective information concerning the business, assets,
prospects, operations and financial condition of the Borrowers and such documents and other information as the Placement Agent shall reasonably request in connection with the services to be performed by it under this Agreement. The Borrowers
recognize and confirm that the Placement Agent will use and rely, without investigation as to accuracy and completeness, on the documents and information (written and oral) provided by the Borrowers and on information available from generally
recognized public sources in performing the services contemplated by this Agreement and that the Placement Agent does not assume nor have responsibility for the accuracy or completeness of such documents or information. Further, the Placement Agent
does not assume any obligation to make any solvency determination or to conduct any appraisal of assets or liabilities of the Borrowers. 
 8. Securities Law Compliance. Each of the Borrowers and the Placement Agent agrees to conduct the Offering in a manner intended (a) to qualify as a private placement of the Securities in any jurisdiction in which the Securities
are offered and (b) to comply with the requirements of Rule 506 of Regulation D under the Act. Assuming the accuracy of the representations and warranties given to the Borrowers by each investor to the extent relevant for such determination,
the Offering will be exempt from the registration requirements of the Act. In connection with offers made in the U.S. pursuant to Regulation D, the Borrowers and the Placement Agent agree (i) to limit offers to sell, and solicitations of offers
to buy, the Securities to persons reasonably believed by it to be “accredited investors” within the meaning of Rule 501(a) under the Act, and (ii) not to engage in any form of general solicitation or general advertising in connection
with the Offering within the meaning of Rule 502 under the Act. 
 9. Termination. The Offering may be terminated by the Placement
Agent at any time prior to the expiration of the Offering Period as contemplated in Section 1 hereof (the “Expiration Date”) in the event that (a) any of the representations or warranties of the Borrowers contained herein
shall prove to have been false or misleading in any material respect when made or deemed made or (b) the Borrowers shall have failed to perform any 

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of its material obligations hereunder. This Offering may be terminated by Cardium (on behalf of the Borrowers) at any time prior to the Expiration Date in
the event that the Placement Agent shall have failed to perform any of its material obligations hereunder. In the event of any such termination under this Section 7, the Placement Agent shall be entitled to receive, in addition to other rights
and remedies it may have hereunder, at law or otherwise, an amount equal to the sum of: (X) all Agent’s Fees earned through the Expiration Date, (Y) any accountable Agent’s Expense Reimbursement through the Expiration Date; and
(Z) all amounts which may become payable in respect of EI Investors pursuant to Section 3(e) hereof. 
 10. Miscellaneous.

 (a) Survival. Any termination of the Offering without consummation thereof, or any termination of this Agreement by
Cardium or the Placement Agent, shall be without obligation on the part of any party except that the provisions of Sections 3(d), 3(e), 4(a), 5, 6 and 10 shall survive such termination. 
 (b) Representations, Warranties, Indemnities and Covenants to Survive Delivery. The representations, warranties, indemnities,
agreements, covenants and other statements of the Borrowers contained herein shall survive the Final Closing, if any. 
 (c)
No Other Beneficiaries. This Agreement is intended for the sole and exclusive benefit of the parties hereto and their respective successors, controlling persons and permitted assigns, and no other person, firm or corporation shall have any
third party beneficiary or other rights hereunder. 
 (d) ARBITRATION, CHOICE OF LAW; COSTS. THE PARTIES HERETO AGREE TO
SUBMIT ALL CONTROVERSIES TO ARBITRATION IN ACCORDANCE WITH THE PROVISIONS SET FORTH BELOW AND UNDERSTAND AND AGREE THAT (A) ARBITRATION IS FINAL AND BINDING ON THE PARTIES, (B) THE PARTIES ARE WAIVING THEIR RIGHTS TO SEEK REMEDIES IN
COURT, INCLUDING THE RIGHT TO A JURY TRIAL, (C) PRE-ARBITRATION DISCOVERY IS GENERALLY MORE LIMITED AND DIFFERENT FROM COURT PROCEEDINGS, (D) THE ARBITRATOR’S AWARD IS NOT REQUIRED TO INCLUDE FACTUAL FINDINGS OR LEGAL REASONING AND
ANY PARTY’S RIGHT TO APPEAL OR TO SEEK MODIFICATION OF RULINGS BY ARBITRATORS IS STRICTLY LIMITED, (E) THE PANEL OF FINANCIAL INDUSTRY REGULATORY AUTHORITY (“FINRA”) ARBITRATORS WILL TYPICALLY INCLUDE A MINORITY OF ARBITRATORS
WHO WERE OR ARE AFFILIATED WITH THE SECURITIES INDUSTRY, AND (F) ALL CONTROVERSIES WHICH MAY ARISE BETWEEN THE PARTIES CONCERNING THIS AGREEMENT SHALL BE DETERMINED BY ARBITRATION PURSUANT TO THE RULES THEN PERTAINING TO FINRA IN THE CITY OF
NEW YORK, STATE OF NEW YORK. JUDGMENT ON ANY AWARD OF ANY SUCH ARBITRATION MAY BE 

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ENTERED IN THE SUPREME COURT OF THE STATE OF NEW YORK OR IN ANY OTHER COURT HAVING JURISDICTION OVER THE PERSON OR PERSONS AGAINST WHOM SUCH AWARD IS
RENDERED. THE PARTIES AGREE THAT THE DETERMINATION OF THE ARBITRATORS SHALL BE BINDING AND CONCLUSIVE UPON THEM. ANY NOTICE OF SUCH ARBITRATION OR FOR THE CONFIRMATION OF ANY AWARD IN ANY ARBITRATION SHALL BE SUFFICIENT IF GIVEN IN ACCORDANCE WITH
THE PROVISIONS OF THIS AGREEMENT. THE PREVAILING PARTY, AS DETERMINED BY SUCH ARBITRATORS IN AN ARBITRATION PROCEEDING SHALL BE ENTITLED TO COLLECT ANY COSTS, DISBURSEMENTS AND REASONABLE ATTORNEY’S FEES FROM THE OTHER PARTY.

 (e) Notices. All notices, requests, demands and other communications which are required or may be given hereunder
shall be in writing and shall be deemed to have been duly given (i) when delivered personally, receipt acknowledged, (ii) five (5) days after being sent by registered or certified mail, return receipt requested, postage prepaid or
(iii) one (1) business day after being sent via a reputable nationwide overnight courier service guaranteeing next business day delivery. All notices shall be made to the parties at the addresses designated above or at such other or
different addresses which a party may subsequently provide with notice thereof, and to their respective legal counsel, as follows: 
 If to
Empire, to: 
 Empire Asset Management Company 
 2 Rector Street, 15th Floor, 
 New York, NY 10006 
 Attn: Gregg Zeoli 
 Fax: (212) 417-8229

 With a copy to: 
 Littman Krooks LLP 
 655 Third Avenue, 20th Floor 
 New York, NY 10017 
 Attn: Steven D. Uslaner, Esq. 
 Fax:
(212) 490-2990 

 Empire Asset Management Company 
 October 24, 2008 
  Page
 13
 of 14 
  

 or to such other person or address as Empire shall furnish to the Borrowers in writing. 

If to the Borrowers, to: 
 Cardium
Therapeutics, Inc. 
 12255 El Camino Real, Suite 250 
 San Diego, California 92130 
 Attn: Tyler Dylan, Chief Business Officer 
 Fax: (858) 436-1011 
 with a copy to:

 Morrison & Foerster LLP 
 12531 High Bluff Drive 
 San Diego, California 92130 
 Attn: Nate Jensen, Esq. 
 Fax: (858) 523-2848 
 or to such other person or address as Cardium shall furnish to Empire in writing. 
 (f) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original, and all of which
taken together shall constitute one and the same agreement (and all signatures need not appear on anyone counterpart). In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data
file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof.
This Agreement shall become effective when one or more counterparts has been signed and delivered by each of the parties hereto. 
 (g) Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto pertaining to the subject matter hereof and supersede all prior and contemporaneous agreements, understandings, documents, negotiations
and discussions, whether oral or written, of the parties hereto pertaining to the subject matter hereof. 
 [The remainder of this page has
been intentionally left blank] 
 [Signature page follows] 

 Empire Asset Management Company 
 October 24, 2008 
  Page
 14
 of 14 
  

 If you find the foregoing is in accordance with our understanding, kindly sign and return to us a
counterpart hereof, whereupon this instrument along with all counterparts will become a binding agreement between us. 
 Dated: October 24, 2008

  

			
	Very truly yours,
	
	CARDIUM THERAPEUTICS, INC.
		
	By:	 	/s/ Tyler Dylan
		 	Tyler Dylan
		 	Chief Business Officer

  

			
	TISSUE REPAIR COMPANY
		
	By:	 	/s/ Tyler Dylan
		 	Name: Tyler Dylan
		 	Title: Chief Business Officer

  

			
	INNERCOOL THEREAPIES, INC.
		
	By:	 	/s/ Tyler Dylan
		 	Name: Tyler Dylan
		 	Title: Chief Business Officer

  

			
	ACCEPTED AND AGREED TO:
	
	EMPIRE ASSET MANAGEMENT COMPANY
		
	By:	 	/s/ Gregg Zeoli
		 	Gregg Zeoli
		 	President & CEOGround Sublease

 EXHIBIT 10.21 
 GROUND SUBLEASE 
 1. BASIC TERMS. This Section 1 contains the
Basic Terms of this Ground Sublease (the “Lease”) between Landlord and Tenant, named below. Other Sections of the Lease referred to in this Section 1 explain and define the Basic Terms and are to be read in conjunction
with the Basic Terms. 
  

	 	1.1.	Effective Date of Lease: October 3, 2008 

  

	 	1.2.	Landlord: First Industrial, L.P., a Delaware limited partnership 

  

	 	1.3.	Tenant: ADESA Atlanta, LLC, a New Jersey limited liability company 

  

	 	1.4.	Guarantor: KAR Holdings, Inc., a Delaware corporation 

  

	 	1.5.	Premises: Approximately 284.34 acres of land legally described on Exhibit A attached hereto on which certain buildings and other improvements are located (all buildings and
improvements, of any nature whatsoever are collectively referred to as the “Improvements”). 

  

	 	1.6.	Lease Term: Twenty (20) years (“Term”), commencing October 3, 2008 (“Commencement Date”) and ending, subject to Sections 2.5,
18 and 21 below, on October 3, 2028 (“Expiration Date”). In the event that Tenant timely and properly exercises either or both Renewal Options (as defined below), then for purposes of this Lease, any reference to
the Term shall mean the term of this Lease, as so extended to include either or both of the Renewal Terms (as defined below), as applicable. 

  

	 	1.7.	Permitted Uses: Subject to (a) Section 4.1, (b) applicable zoning restrictions, and (c) any applicable private restrictions encumbering the Premises, any
lawful purposes; provided, however, that if Tenant desires to use the Premises for any use other than the current use as of the date hereof including (which current use includes, but is not limited to, storage and auction of automobiles, trucks,
recreational vehicles and boats, whether damaged or undamaged, and providing services to such vehicles in body shops, detail shops and mechanicals shops located at the Premises), then Tenant must first obtain Landlord’s consent, which consent
shall not be withheld, conditioned or delayed unless such use creates a nuisance (e.g., by excessive production or emission of objectionable or unpleasant odors, smoke, dust, gas, light, noise or vibrations) or materially increases the risk of
environmental contamination. 

  

	 	1.8.	Tenant’s Broker: None 

  

	 	1.9.	Security/Damage Deposit: $-0-. 

  

	 	1.10.	Exhibits to Lease: The following exhibits are attached to and made a part of this Lease. Exhibit A (Legal Description); Exhibit B (Tenant
Operations Inquiry Form); Exhibit C (Broom Clean Condition and Repair Requirements), Exhibit D (Other Leases); Exhibit E (Intentionally Omitted); Exhibit F (Intentionally Omitted); Exhibit G (Memorandum of Ground
Lease); and Exhibit H (Schedule of Required Insurance). 

 2. LEASE OF PREMISES; RENT. 

2.1. Lease of Premises for Lease Term. Landlord hereby leases the Premises to Tenant, and Tenant hereby rents the
Premises from Landlord, for the Term and subject to the conditions of this Lease. On the Commencement Date, Landlord and Tenant shall record a Memorandum of Ground Lease in the form attached hereto as Exhibit G. 

 2.2. Types of Rental Payments. Tenant shall pay net base rent to
Landlord in monthly installments, in advance, on the first day of each and every calendar month during the Term of this Lease (the “Base Rent”) in the amounts and for the periods as set forth below: 
 Rental Payments 
  

							
	 Lease Period
	 	Annual Base
Rent	 	Monthly Base
Rent
	Year 1	 	$	647,965	 	$	53,997
	Year 2	 	$	647,965	 	$	53,997
	Year 3	 	$	687,426	 	$	57,286
	Year 4	 	$	687,426	 	$	57,286
	Year 5	 	$	729,291	 	$	60,774
	Year 6	 	$	729,291	 	$	60,774
	Year 7	 	$	773,704	 	$	64,475
	Year 8	 	$	773,704	 	$	64,475
	Year 9	 	$	820,823	 	$	68,402
	Year 10	 	$	820,823	 	$	68,402
	Year 11	 	$	870,811	 	$	72,568
	Year 12	 	$	870,811	 	$	72,568
	Year 13	 	$	923,844	 	$	76,987
	Year 14	 	$	923,844	 	$	76,987
	Year 15	 	$	980,106	 	$	81,676
	Year 16	 	$	980,106	 	$	81,676
	Year 17	 	$	1,039,794	 	$	86,650
	Year 18	 	$	1,039,794	 	$	86,650
	Year 19	 	$	1,103,118	 	$	91,927
	Year 20	 	$	1,103,118	 	$	91,927

 Tenant shall also pay all Operating Expenses (defined below) and any other amounts owed by Tenant
hereunder (collectively, “Additional Rent”). In the event any monthly installment of Base Rent or Additional Rent, or both, is not paid within ten (10) days of the date when due, a late charge in an amount equal to 5% of the
then-delinquent installment of Base Rent and/or Additional Rent (the “Late Charge”; the Late Charge, Default Interest, as defined in Section 21.3 below, Base Rent and Additional Rent shall collectively be referred to as
“Rent”) shall be paid by Tenant to Landlord. Landlord and Tenant agree that (a) such Late Charge and Default Interest are intended to compensate Landlord for additional administrative charges and other damages incurred by
Landlord on account of such late payment and do not constitute a penalty, (b) the actual damages to be suffered by Landlord in the event of a late payment of Rent shall be difficult, if not impossible, to ascertain, and (c) that such Late
Charge and Default Interest are a reasonable estimate of such charges and damages. Tenant shall deliver all Rent payments to Landlord at: c/o First Industrial, L.P, P.O. Box 905654, Charlotte, North Carolina 28290-5654, or if sent by overnight
courier, First Industrial, L.P., JP Morgan Chase, 806 Tyvola Road, Suite 108, Charlotte, North Carolina 28217, Attn: FILP Lockbox 905654 (or to such other entity designated as Landlord’s management agent, if any, and if Landlord so
appoints such a management agent, the “Agent”), or pursuant to such other directions as Landlord shall designate in this Lease or otherwise to Tenant not less than thirty (30) days in advance in writing. 
 2.3. Covenants Concerning Rental Payments; Initial and Final Rent Payments. Tenant shall pay the Rent promptly when
due, without notice (except as otherwise expressly and specifically set forth herein) or demand, and without any abatement, deduction or setoff. No payment by Tenant, or receipt or acceptance by Agent or Landlord, of a lesser amount than the correct
Rent shall be deemed to be other than a payment on account, nor shall any endorsement or statement on any check or letter accompanying any payment be deemed an accord or satisfaction, and Agent or Landlord may accept such payment without prejudice
to its 

  

 2 

 
right to recover the balance due or to pursue any other remedy available to Landlord. If the Commencement Date occurs on a day other than the first day of a
calendar month, the Rent due for the first calendar month of the Term shall be prorated on a per diem basis (based on a 360 day, 12 month year) and paid to Landlord on the Commencement Date, and the Term will be extended to terminate on the last day
of the calendar month in which the Expiration Date stated in Section 1.6 occurs. 
 2.4. Net Lease;
Nonterminability. 
 2.4.1. This Lease is a complete “net lease,” and Tenant’s obligations
arising or accruing during the Term of this Lease to pay all Base Rent, Additional Rent, and all other payments hereunder required to be made by Tenant shall be absolute and unconditional, and Tenant shall pay all Base Rent, Additional Rent and all
other payments required to be made by Tenant under this Lease without notice (except as otherwise expressly and specifically set forth herein), demand, counterclaim, set-off, deduction, or defense; without abatement, suspension, deferment,
diminution or reduction; and free from any charges, assessments, impositions, expenses or deductions of any and every kind of and nature whatsoever. The obligations of Landlord under this Lease are independent of Tenant’s obligations hereunder.
All costs, expenses and obligations of every kind and nature whatsoever relating to the Premises and the appurtenances thereto and the use and occupancy thereof that may arise or become due during the Term (whether or not the same shall become
payable during the Term of this Lease or thereafter) shall be paid by Tenant, and Landlord is not responsible for any costs, charges, expenses or outlays of any nature whatsoever arising during the Term from or relating to the Premises or the use or
occupancy thereof. All of Landlord, Landlord’s mortgagee or lender, Agent and their respective employees, shareholders, officers, directors, members, managers, trustees, partners or principals, disclosed or undisclosed, and all of their
respective successors and assigns (hereinafter collectively referred to, inclusive of Landlord, as the “Indemnitees” and each individually as an “Indemnitee”), are and shall be indemnified and saved harmless as
provided below. The willful misconduct or gross negligence of any of the Indemnitees shall not be imputed to (x) Landlord’s mortgagee or lender and the Indemnitees of such mortgagee or lender or (y) any other Indemnitee not actually
responsible for, or the cause of, such misconduct or gross negligence. Tenant assumes the sole responsibility during the Term for the condition, use, operation, repair, maintenance, replacement of any and all components and systems of, and the
underletting and management of, the Premises. Tenant shall and hereby does indemnify, defend and hold the Indemnitees harmless from and against any and all Losses (defined below) actually incurred by any or all of the Indemnitees with respect to,
and to the extent of, matters that arise or accrue with respect to the Term of this Lease and in connection with any or all of the ownership, maintenance, repair and operation of the Premises (whether or not the same shall become payable during the
Term); and the Indemnitees shall have no (a) responsibility in respect thereof and (b) liability for damage to the property of Tenant or any subtenant of Tenant on any account or for any reason whatsoever, except in the event of (and then
only to the extent of) such Indemnitee’s respective willful misconduct or gross negligence. The preceding indemnity shall survive the expiration or termination of this Lease. It is the purpose and intention of the parties to this Lease that the
Base Rent due hereunder shall be absolutely net to the Landlord and Landlord shall have no obligation or responsibility, of any nature whatsoever, to perform any tenant improvements; to provide any services; or to perform any repairs, maintenance or
replacements in, to, at, on or under the Premises, whether for the benefit of Tenant or any other party. 
 2.4.2.
Except as otherwise expressly provided in Sections 18 and 21 of this Lease, this Lease shall not terminate, nor shall Tenant have any right to terminate this Lease or to be released or discharged from any obligations or liabilities
hereunder for any reason, including, without limitation: (i) any damage to or destruction of the Premises; (ii) any restriction, deprivation (including eviction) or prevention of, or any interference with, any use or the occupancy of the
Premises (whether due to any default in, or failure of, Landlord’s title to the Premises or otherwise); (iii) any condemnation, requisition or other taking or sale of the use, occupancy or title of or to the Premises; (iv) any action,
omission or breach on the part of Landlord under this Lease or any other agreement between Landlord 

  

 3 

 
and Tenant; (v) the inadequacy or failure of the description of the Premises to demise and let to Tenant the property intended to be leased hereby;
(vi) any sale or other disposition of the Premises by Landlord; (vii) the impossibility or illegality of performance by Landlord or Tenant or both; (viii) any action of any court, administrative agency or other governmental authority;
or (ix) any other cause, whether similar or dissimilar to the foregoing, any present or future law notwithstanding. Nothing in this paragraph shall be construed as an agreement by Tenant to perform any illegal act or to violate the order of any
court, administrative agency or other governmental authority. 
 2.4.3. Tenant will remain obligated under this Lease
in accordance with its terms, and will not take any action to terminate (except in accordance with the provisions of Section 18 of this Lease), rescind or avoid this Lease for any reason, notwithstanding any bankruptcy, insolvency,
reorganization, liquidation, dissolution or other proceeding affecting Landlord or any assignee of Landlord, or any action with respect to this Lease that may be taken by any receiver, trustee or liquidator or by any court. Tenant waives all rights
at any time conferred by statute or otherwise to quit, terminate or surrender this Lease or the Premises, or to any abatement or deferment of any amount payable by Tenant hereunder, or for claims against any Indemnitee for any Losses suffered by
Tenant on account of any cause referred to in this Section 2.4 or elsewhere in this Lease (except claims directly arising out of the gross negligence or willful misconduct by such Indemnitee). 
 2.5. Option to Renew. 
 2.5.1. Tenant shall have the two (2) consecutive options (each, a “Renewal Option” and collectively, the “Renewal Options”) to renew this Lease for a term of ten
(10) years each (each, a “Renewal Term”), on all the same terms and conditions set forth in this Lease, except that initial Base Rent during the first twenty-four (24) months of any Renewal Term (“Initial Renewal
Rent”) shall be equal to Fair Market Rent (as defined in Section 2.5.2 below); provided, however, (a) in no event may the Initial Renewal Rent, on a per annum basis, be any greater than 105% of the Base Rent in effect
immediately preceding the commencement date of the then-applicable Renewal Term, nor shall the Initial Renewal Rent be any less than the Renewal Rent Floor, as defined below; and (b) as of the second anniversary of the commencement of each
Renewal Term and on each second anniversary thereafter (i.e. every twenty-four (24) months) through the remainder of that Renewal Term, the Base Rent shall increase at the rate of three percent (3.0%) per annum, compounded annually,
but actually effectuated and payable on a biennial basis, in the same manner as applies with respect to the adjustment of Base Rent during the initial Term. Tenant shall deliver written notice to Landlord of Tenant’s election to exercise a
Renewal Option (“Renewal Notice”) not less than nine (9) months, nor more than twenty-four (24) months prior to the expiration date of the original Term or the then-current Renewal Term, as applicable; and if Tenant fails
to timely deliver a Renewal Notice to Landlord, then Tenant shall automatically be deemed to have irrevocably waived and relinquished the Renewal Options. 
 2.5.2. For the purposes of this Lease, “Fair Market Rent” shall be determined by Landlord, in its sole, but good faith, discretion based upon (a) the annual base rental rates then being
charged in the industrial market sector of the geographic area where the Premises is situated for land only, without taking into account the value of any improvements thereon, which comparison land is utilized in a manner comparable to the
then-applicable utilization of the Premises, (b) for a lease term commencing on or about the commencement date of the applicable Renewal Term and equal in duration to the applicable Renewal Term, and (c) taking into consideration: the
geographic location, of the Premises; the extent of service to be provided to the proposed tenant thereunder; applicable distinctions between “gross” and “net” leases; the creditworthiness and quality of Tenant; leasing
commissions; incentives being provided to tenants by landlords of comparable land in the geographic area in which the Premises is located; and any other relevant term or condition in making such evaluation, all as reasonably determined by Landlord.
In no event, however (and notwithstanding any provision to the contrary in this Section 2.5), shall the Fair Market Rent be less than an amount equal to the Base Rent in effect during the one (1) year period immediately preceding
the expiration date of the then-applicable term 

  

 4 

 
(the “Renewal Rent Floor”). Landlord shall notify Tenant of Landlord’s determination of Fair Market Rent for any Renewal Term, in
writing (the “Base Rent Notice”) within sixty (60) days after receiving the applicable Renewal Notice. 
 2.5.3. Tenant shall then have thirty (30) days after Landlord’s delivery of the Base Rent Notice in which to advise Landlord, in writing (the “Base Rent Response Notice”), whether Tenant (i) is
prepared to accept the Fair Market Rent established by Landlord in the Base Rent Notice and proceed to lease the Premises, during the Renewal Term, at that Fair Market Rent; or (ii) elects to withdraw and revoke its Renewal Notice, whereupon
the Renewal Option shall automatically be rendered null and void; or (iii) elects to contest Landlord’s determination of Fair Market Rent. In the event that Tenant fails to timely deliver the Base Rent Response Notice, then Tenant shall
automatically be deemed to have elected (i) above. Alternatively, if Tenant timely elects (ii), then this Lease shall expire on the original expiry date of the initial Term or the then current Renewal Term, as applicable. If, however, Tenant
timely elects (iii), then the following provisions shall apply: 
 2.5.3.1. The Fair Market Rent shall be determined
by either the Independent Brokers or the Determining Broker, as provided and defined below, but in no event shall the Fair Market Rent be less than the Renewal Rent Floor. 
 2.5.3.2. Within thirty (30) days after Tenant timely delivers its Base Rent Response Notice electing to contest
Landlord’s determination of Fair Market Rent, each of Landlord and Tenant shall advise the other, in writing (the “Arbitration Notice”), of both (i) the identity of the individual that each of Landlord and Tenant,
respectively, is designating to act as Landlord’s or Tenant’s, as the case may be, duly authorized representative for purposes of the determination of Fair Market Rent pursuant to this Section 2.5.3 (the
“Representatives”); and (ii) a list of three (3) proposed licensed real estate brokers, any of which may serve as one of the Independent Brokers (collectively, the “Broker Candidates”). Each Broker
Candidate: 
  

	 	(i)	shall be duly licensed in the jurisdiction in which the Premises is located; 

  

	 	(ii)	shall have at least five (5) years’ experience, on a full-time basis, leasing industrial space (warehouse/distribution/ancillary office) in the same general geographic
area as that in which the Premises is located, and at least three (3) of those five (5) years of experience shall have been consecutive and shall have elapsed immediately preceding the date on which Tenant delivers the Renewal Notice; and

  

	 	(iii)	shall be independent and have no then-pending (as of the date Landlord or Tenant designates the broker as a Broker Candidate) brokerage relationship, formal or informal, oral or
written, with any or all of Landlord, Tenant, and any affiliates of either or both of Landlord and Tenant (“Brokerage Relationship”), nor may there have been any such Brokerage Relationship at any time during the two (2) year
period immediately preceding the broker’s designation, by Landlord or Tenant, as a Broker Candidate. 

 2.5.3.3. Within fourteen (14) days after each of Landlord and Tenant delivers its Arbitration Notice to the other, Landlord and Tenant shall cause their respective Representatives to conduct a meeting at a mutually convenient
time and location. At that meeting, the two (2) Representatives shall examine the list of six (6) Broker Candidates and shall each eliminate two (2) names from the list on a peremptory basis. In order to eliminate four (4) names,
first, the Tenant’s Representative shall eliminate a name from the list and then the Landlord’s Representative shall eliminate a name therefrom. The two (2) Representatives shall alternate in eliminating names from the list of six
(6) Broker Candidates in this manner until each of them has eliminated two (2) names. The two (2) Representatives shall immediately contact the remaining two (2) Broker Candidates (the “Independent Brokers”), and
engage them, on behalf of Landlord and Tenant, to determine the Fair Market Rent in accordance with the provisions of this Section 2.5.3. 
  

 5 

 2.5.3.4. The Independent Brokers shall determine the Fair Market Rent within
thirty (30) days of their appointment. Landlord and Tenant shall each make a written submission to the Independent Brokers, advising of the rate that the submitting party believes should be the Fair Market Rate, together with whatever written
evidence or supporting data that the submitting party desires in order to justify its desired rate of Fair Market Rent; provided, in all events, however, that the aggregate maximum length of each party’s submission shall not exceed ten
(10) pages (each such submission package, a “FMR Submission”). The Independent Brokers shall be obligated to choose one (1) of the parties’ specific proposed rates of Fair Market Rent, without being permitted to
effectuate any compromise position. 
 2.5.3.5. In the event, however, that the Independent Brokers fail to reach
agreement, within twenty (20) days after the date on which both Landlord and Tenant deliver the FMR Submissions to the Independent Brokers (the “Decision Period”), as to which of the two (2) proposed rates of Fair Market
Rent should be selected, then, within five (5) days after the expiration of the Decision Period, the Independent Brokers shall jointly select a real estate broker who (x) meets all of the qualifications of a Broker Candidate, but was not
included in the original list of six (6) Broker Candidates; and (y) is not affiliated with any or all of (A) either or both of the Independent Brokers and (B) the real estate brokerage companies with which either or both of the
Independent Brokers is affiliated (the “Determining Broker”). The Independent Brokers shall engage the Determining Broker on behalf of Landlord and Tenant (but without expense to the Independent Brokers), and shall deliver the FMR
Submissions to the Determining Broker within five (5) days after the date on which the Independent Brokers select the Determining Broker pursuant to the preceding sentence (the “Submission Period”). 
 2.5.3.6. The Determining Broker shall make a determination of the Fair Market Rent within twenty (20) days after the date on
which the Submission Period expires. The Determining Broker shall be required to select one of the parties’ specific proposed rates of Fair Market Rent, without being permitted to effectuate any compromise position. 
 2.5.3.7. The decision of the Independent Brokers or the Determining Broker, as the case may be, shall be conclusive and binding on
Landlord and Tenant, and neither party shall have any right to contest or appeal such decision. Judgment may be entered, in a court of competent jurisdiction, upon the decision of the Independent Brokers or the Determining Broker, as the case may
be. 
 2.5.3.8. In the event that the initial Term or the then-current Renewal Term, as applicable, expires and the
subject Renewal Term commences prior to the date on which the Independent Brokers or the Determining Broker, as the case may be, renders their/its decision as to the Fair Market Rent, then from the commencement date of the subject Renewal Term
through the date on which the Fair Market Rent is determined under this Section 2.5.3 (the “Determination Date”), Tenant shall pay monthly Base Rent to Landlord at a rate equal to 103% of the most recent rate of monthly
Base Rent in effect on the expiration date of the initial Term or the immediately preceding Renewal Term, as applicable (the “Temporary Base Rent”). Within ten (10) business days after the Determination Date, Landlord shall pay
to Tenant, or Tenant shall pay to Landlord, depending on whether the Fair Market Rent is less than or greater than the Temporary Base Rent, whatever sum that Landlord or Tenant, as the case may be, owes the other (the “Catch-Up
Payment”), based on the Temporary Base Rent actually paid and the Fair Market Rent due (as determined by the Independent Brokers or the Determining Broker, as the case may be) during that portion of the Renewal Term that elapses before the
Catch-Up Payment is paid, in full (together with interest thereon, as provided below). The Catch-Up Payment shall bear interest at the rate of Prime (defined below), plus two percent (2.0%) per annum, from the date each monthly component of the
Catch-Up Payment would have been due, had the Fair Market Rent been determined prior to the commencement of the Renewal Term, through the date on which the Catch-Up Payment is paid, in full (inclusive of interest thereon). For purposes hereof,
“Prime” shall mean the per annum rate of interest publicly announced by JPMorgan Chase Bank NA (or its successor), from time to time, as its “prime” or “base” or “reference” rate of
interest. 
  

 6 

 2.5.3.9. The party whose proposed rate of Fair Market Rent is not selected by the
Independent Brokers or the Determining Broker, as the case may be, shall bear all costs of all counsel, experts or other representatives that are retained by both parties, together with all other costs of the arbitration proceeding described in this
Section 2.5.3, including, without limitation, the fees, costs and expenses imposed or incurred by any or all of the Independent Brokers and the Determining Broker. 
 2.5.3.10. Unless otherwise expressly agreed in writing, during the period of time that any arbitration proceeding is pending under
this Section 2.5.3, Landlord and Tenant shall continue to comply with all those terms and provisions of this Lease that are not the subject of their dispute and arbitration proceeding, most specifically including, but not limited to,
Tenant’s monetary obligations under this Lease; and, with respect to the payment of Base Rent during that portion of the Renewal Term that elapses during the pendency of any arbitration proceeding under this Section 2.5.3, the
provisions of Section 2.5.3.8 shall apply. 
 2.5.3.11. During any period of time that an arbitration is
pending or proceeding under this Section 2.5.3, Tenant shall have no right to assign this Lease or enter into any sublease for all or any portion of the Premises, notwithstanding any provision to the contrary in this Lease. 

2.5.4. The Renewal Option is granted subject to all of the following conditions: 
 2.5.4.1. As of the date on which Tenant delivers any Renewal Notice and as of the commencement date of the applicable Renewal
Term, there shall not exist any uncured Default by Tenant under this Lease. 
 2.5.4.2. There shall be no further
right of renewal after the expiration of the second Renewal Term. 
 2.5.4.3. The Renewal Option is personal to Tenant
and may only be exercised by Tenant or any assignee of Tenant (provided such assignment was made with Landlord’s prior written consent and otherwise in accordance with the requirements of Section 8 or made without Landlord’s
consent but in accordance with Section 8). 
 2.5.4.4. The Premises shall be delivered to Tenant during
the Renewal Term(s) on an “as-is” “where-is” basis, with no obligation on the part of Landlord to perform any tenant improvements at the Premises. 
 2.5.4.5. In the event that during the initial Term or the first Renewal Term, as the case may be, Tenant assigns this Lease to an
unrelated third party in accordance with the provisions of Section 8 below, then as a condition precedent to the exercise of the first Renewal Term or the second Renewal Term, as applicable, the then-current Tenant shall cause an
affiliated entity to act as a replacement guarantor under this Lease, in lieu of KAR Holdings, Inc. (“Replacement Guarantor”). The Replacement Guarantor shall be an entity that is approved by Landlord, in its sole, but reasonable,
discretion. The Replacement Guarantor shall have a minimum net worth, as determined in accordance with generally accepted accounting principles (“GAAP Net Worth”), of Five Hundred Million Dollars ($500,000,000.00). Tenant shall
cause the Replacement Guarantor to deliver to Landlord any and all documentation and information reasonably requested by Landlord in order to enable Landlord to assess the acceptability and financial condition of the proposed Replacement Guarantor
and to evidence its compliance with GAAP Net Worth. If Landlord approves the proposed Replacement Guarantor, then (i) the Replacement Guarantor shall execute and deliver to Landlord substantively the same guaranty of this Lease as is executed
and delivered to Landlord, by KAR Holdings, Inc. as of the date of this Lease; and (ii) Landlord shall cancel the original guaranty of this Lease, as provided by KAR Holdings, Inc. At no time during the Term shall Landlord have any obligation
whatsoever to release KAR Holdings, Inc. as guarantor under this Lease except as specifically provided in this Section 2.5.4.5. Landlord and Tenant acknowledge and agree that the purpose of this provision is to ensure that KAR Holdings,
Inc. shall 

  

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not be required to continue to guaranty Tenant’s obligations under this Lease during the Renewal Terms if, as of the commencement date of the applicable
Renewal Term, the tenant hereunder is no longer the original named Tenant, or any entity affiliated therewith. In the event that a Replacement Guarantor acceptable to Landlord is not provided by the then-current Tenant, such Tenant shall not have
the option to extend the Term pursuant to the Renewal Option, the Lease will expire on the then-pending Expiration Date, and KAR Holdings, Inc. shall remain the Guarantor until the Expiration Date. 
 3. OPERATING EXPENSES. 
 3.1. Definitional Terms Relating to Additional Rent. For purposes of this Section and other relevant provisions of the Lease: 
 3.1.1. Operating Expenses. The term “Operating Expenses” shall mean all costs, expenses and charges
of every kind or nature relating to, or incurred in connection with, the ownership, maintenance and operation of the Premises, including, but not limited to the following: (i) Taxes, as hereinafter defined in Section 3.1.2;
(ii) dues, fees or other costs and expenses, of any nature, due and payable to any association or comparable entity to which Landlord, as owner of the Premises, is a member or otherwise belongs and that governs or controls any aspect of the
ownership and operation of the Premises; and (iii) any real estate taxes and common area maintenance expenses levied against, or attributable to, the Premises under any declaration of covenants, conditions and restrictions, reciprocal easement
agreement or comparable arrangement that encumbers and benefits the Premises and other real property (e.g. a business park). Under no circumstances, however, shall Operating Expenses include: (i) depreciation or amortization on the Premises or
any fixtures or equipment installed therein, (ii) federal, state, or local income, margin, revenue, franchise, gift, transfer, excise, capital stock, estate, succession, or inheritance taxes, (iii) interest on debt or amortization payments
on any mortgages or deeds of trust or any other debt for borrowed money, and costs or any expenses incurred by Landlord in connection with such debt and liens, including, without limitation, late charges, default fees and prepayment penalties or
premiums (iv) costs, fines or penalties incurred because Landlord violated any governmental rule or authority; (v) costs or expenses of a partnership, or other entity, which constitutes Landlord, which costs or expenses are not directly
related to the Premises (such as accounting fees, tax returns, and income taxes of such entity); (vi) any sums that Landlord is required to pay Tenant pursuant to any other written agreement between Landlord and Tenant; (vii) costs of
capital expenditures; (viii) ground rent; (ix) legal fees, architectural fees and engineering fees; (x) any cost or expenditure arising from the gross negligence or willful misconduct of Landlord; (xi) costs of repairs occasioned
by fire, windstorm, other casualty or condemnation to the extent of insurance or condemnation proceeds actually received; (xii) costs, overhead and profit paid to subsidiaries or affiliates of Landlord for supplies or other materials, to the
extent that the costs of the services, supplies, or materials exceed the amount customarily charged by an independent entity for such services, supplies, or materials; (xiii) advertising and promotional expenditures; (xiv) costs of any
items for which Landlord receives reimbursement from any source, insurance proceeds, warranties or condemnation awards; (xv) costs of defending any lawsuits with any mortgagee, costs of selling, syndicating, financing, mortgaging or
hypothecating any of Landlord’s interest in the Premises or Improvements, and costs (including attorneys’ fees and costs of settlement judgments and payments in lieu thereof) arising from claims, disputes or potential or actual claims,
litigation or arbitrations respecting Landlord; (xvi) any amounts payable by Landlord by way of indemnity for damages; (xvii) costs not billed to Tenant within twenty-four (24) months of the date incurred; (xviii) expenses
incurred by Landlord that are not directly related to the Premises or its operations including, without limitation, compensation paid to employees of Landlord; and (xix) other expenses that, under generally accepted accounting principles
consistently applied, would not be considered normal maintenance, repair, management, or operation expenses for industrial property in the geographic area in which the Premises is located; however, Operating Expenses shall include those expenses, if
any, incurred by Landlord in order to perform or provide any services required of Landlord under this Lease or to 

  

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provide any services that (x) are specifically requested by Tenant and (y) Landlord elects to provide, upon Tenant’s request, it being
understood that Landlord is under no obligation to provide any such services (including, but not limited to, a portion of the compensation paid to employees performing or providing such services, pro-rated to reflect the extent of the
employee’s time spent performing or providing such services). If Landlord receives any cash discounts, trade discounts or guaranty discounts in the purchase of any utilities, services, or goods, such discount shall be reflected in the Operating
Expenses; provided, however, that Landlord shall have no obligation, of any nature whatsoever, to seek or procure any such discounts referenced above. Notwithstanding the exclusions to Operating Expenses stated in this Section 3.1.1, in
no event does Landlord, nor shall Landlord, have any maintenance, repair, replacement or similar obligations with respect to the Land, Improvements, or Premises, except as expressly and specifically set forth in this Lease. 
 3.1.2. Taxes. 
 3.1.2.1. The term “Taxes” shall mean (i) all governmental taxes, assessments, fees and charges of every kind or nature (other than Landlord’s federal, state, or local income, margin,
revenue, franchise, gift, transfer, excise, capital stock, estate, succession, or inheritance taxes income taxes), whether general, special, ordinary or extraordinary, due at any time or from time to time, during the Term and any extensions thereof,
in connection with the ownership, leasing, or operation of the Premises, or of the personal property and equipment located therein or used in connection therewith; and (ii) any reasonable, out-of-pocket expenses incurred by Landlord in
contesting such taxes or assessments and/or the assessed value of the Premises (if Tenant does not exercise its right to contest the Taxes). For purposes hereof, Tenant shall be responsible for any Taxes that are due and payable at any time or from
time to time during the Term (including, but not limited to, those Taxes that accrue prior to the Commencement Date), and for any Taxes that are assessed, become a lien, or accrue during any Operating Year (regardless of when payable), which
obligation shall survive the termination or expiration of this Lease. Without in any way limiting Tenant’s obligation to pay any and all Taxes, Tenant hereby acknowledges that Tenant shall be solely responsible for any increase in Taxes which
is the result of the loss of any tax abatement owed to, or expected by, Tenant pursuant to any tax abatement agreement to which Tenant is a party. To the extent that any retroactive tax liability arises pursuant to any tax abatement agreement to
which Tenant is a party, Tenant shall be and remain liable for such retroactive liability, regardless of whether said liability relates to a period of time or accrued prior to, or following, the Commencement Date. Notwithstanding the foregoing or
anything to the contrary herein, Tenant shall be entitled to the benefits of all existing and future reduction or abatement of Taxes to the extent such reductions and abatements are granted by the applicable taxing authority. 
 3.1.2.2. Each of Landlord and Tenant shall have the right to contest the amount or validity, in whole or in part, of any Tax or to
seek a reduction in the valuation of the Premises as assessed for real estate property tax purposes by appropriate proceedings diligently conducted in good faith (but only after the deposit or payment, whether under protest or otherwise, of any
amounts required by applicable law to stay or prevent collection activities), provided the right of Tenant to perform any such contest shall be first and prior to the right of Landlord hereunder. If either party hereto elects to initiate any
proceeding referred to in this Section 3.1.2.2 (in such case, such party is referred to herein as the “Contesting Party”), such Contesting Party shall promptly so advise the other party hereto (in such case, such party
is referred to herein as the “Non-Contesting Party”) in writing (such notice being referred to herein as a “Contest Notice”), but such Non-Contesting Party shall not be required to join such proceeding, except to
the extent required by law, in which event such Non-Contesting Party shall, upon written request by the Contesting Party, join in such proceedings or permit the same to be brought in its name, all at the Contesting Party’s sole expense. Tenant
shall have the right to reject any Contest Notice provided by Landlord and to initiate the proceedings contemplated by Landlord’s Contest Notice by providing 

  

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Landlord with written notice of such rejection within ten (10) business days of Tenant’s receipt of such a Contest Notice, in which case Landlord
agrees that it shall not initiate or continue to pursue such proceedings and, instead, Tenant shall do so. The Non-Contesting Party, as applicable, agrees to provide, at the Contesting Party’s expense, whatever assistance the Contesting Party
may reasonably require in connection with any such contest initiated by such Contesting Party. The Contesting Party, as applicable, covenants that the Non-Contesting Party shall not suffer or sustain any out-of-pocket costs or expenses (including
attorneys’ fees) or any liability in connection with any such proceeding initiated by the Contesting Party. No such contest initiated by the Contesting Party shall subject the Non-Contesting Party to any civil liability or the risk of any
criminal liability or forfeiture. 
 3.1.3. Operating
Year. The term “Operating Year” shall mean the calendar year commencing January 1st of each year during the Term. If the Commencement Date occurs on a date other than the first day of an Operating Year, then the first
Operating Year under this Lease shall be that period of time from the Commencement Date through December 31st of the Operating Year in which
the Commencement Date occurs. If, however, the Expiration Date is other than December 31st, then the last Operating Year shall commence on
January 1st of the year in which the Expiration Date occurs and end on the Expiration Date. 
 3.1.4. Property Tax Incentives. 
 3.1.4.1. Tenant has obtained certain property tax reductions (collectively, the “Property Tax Incentives”) in
connection with the original development, acquisition, construction and equipping of the Premises. In order to obtain such Property Tax Incentives, title to the Premises was transferred to the Development Authority of Fulton County (the
“Issuer”) after which the Tenant leased the Premises back from the Issuer pursuant to the Master Lease (as such term is hereinafter defined). Pursuant to an Assignment, Assumption and Novation Agreement dated as of October 3,
2008 (the “Assignment”), Tenant assigned to Landlord and Landlord assumed the rights, title, interest, duties and obligations of Tenant under the Master Lease and a number of additional Bond Documents (as defined in the Assignment).

 3.1.4.2. Landlord hereby covenants and agrees with Tenant that, without the prior written consent of Tenant, which
consent shall not be unreasonably withheld, conditioned or delayed, Landlord shall not knowingly take or omit to take any action under the Master Lease, the other Bond Documents, or otherwise that may adversely affect Tenant’s receipt of the
benefits of the Property Tax Incentives, including, without limitation, terminating or cancelling the Master Lease or any of the other Bond Documents or exercising its option to purchase the Premises as provided in the Master Lease prior to
December 31, 2013, the stated expiration date of the Master Lease (the “Master Lease Expiration Date”). Nothing contained in this subsection 3.1.4 shall be deemed to limit Landlord (without Tenant’s consent) from
terminating the Master Lease or from exercising Landlord’s purchase rights and/or options under the Master Lease or redeeming the Bonds, after the Master Lease Expiration Date or the occurrence of an Event of Default. In addition, and provided
that no Event of Default is then outstanding, Landlord shall not, without the prior written consent of Tenant (which consent shall not be unreasonably withheld, conditioned or delayed), execute any amendment or modification to the Master Lease or
other Bond Documents. 
 3.1.4.3. Landlord and Tenant agree that upon the transfer of title to the Premises to the
Landlord following the Master Lease Expiration Date, this Ground Sublease shall automatically and without the necessity of any further action be and become a direct and primary lease between Landlord (as lessor) and Tenant (as lessee). In such
event, the parties acknowledge and agree that the terms of this Lease shall remain in full force and effect. In furtherance of the provisions of this subsection 3.1.4, the parties agree that they shall hereafter take such actions and execute and
deliver such documents and instruments as may be reasonably necessary or desirable in order to ensure that the parties’ respective rights, privileges, duties, obligations and liabilities are consistent with the terms of this subsection 3.1.4.

  

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 3.1.4.4. In any instance under this Section 3.1.4 where Landlord requests
Tenant’s consent or approval, in writing (“Request Notice”) and Tenant fails to respond to Landlord, in writing, within five (5) business days after Landlord’s delivery of such Request Notice, then Tenant shall
automatically be deemed to have provided the requested consent or approval. 
 3.1.4.5. Tenant acknowledges and agrees
that in the event that any or all of the Property Tax Incentives are cancelled or rendered null and void as the result of any actions taken by Landlord pursuant to (x) the requirements of either or both of this Section 3.1.4 or
Section 24, or (y) the direction of Tenant pursuant to either or both of this Section 3.1.4 or Section 24, then Tenant shall be solely responsible for the timely payment of all Taxes levied on or with respect to the Premises at
any time during the Term. 
 3.2. Payment of Operating Expenses. Tenant shall be responsible for any
Operating Expenses that are due and payable at any time or from time to time during the Term and for any Operating Expenses that are assessed, become a lien, or accrue during any Operating Year, which obligation shall survive the termination or
expiration of this Lease. Landlord shall have the right, at any time or from time to time throughout the Term, to direct Tenant to pay any or all of the Operating Expenses on a direct basis, to the provider or taxing authority, as the case may be,
rather than to pay Operating Expenses to Landlord. The Operating Expenses and any other sums due and payable under this Lease shall be adjusted upon receipt of the actual bills therefor, and the obligations of this Section 3 shall
survive the termination or expiration of the Lease. 
 3.3. Operating Expense Audit. As soon as is
reasonably practical after each Operating Year, and provided that Tenant has paid some or all Operating Expenses to Landlord, rather than making payment directly to the provider or taxing authority, as the case may be, Landlord shall provide Tenant
with a statement (a “Statement”) setting forth Tenant’s actual ultimate liability for Operating Expenses for the subject Operating Year. If Tenant disputes the amount set forth in a given Statement, Tenant shall have the right,
at Tenant’s sole expense (except as otherwise specifically provided below), to cause Landlord’s books and records with respect to the particular Operating Year that is the subject of that particular Statement to be audited (the
“Audit”) by a certified public accountant mutually acceptable to Landlord and Tenant (the “Accountant”), provided Tenant (i) has not defaulted under this Lease and failed to cure such default on a timely basis
and (ii) delivers written notice (an “Audit Notice”) to Landlord on or prior to the date that is ninety (90) days after Landlord delivers the Statement in question to Tenant (such 90-day period, the “Response
Period”). If Tenant fails to timely deliver an Audit Notice with respect to a given Statement, then Tenant’s right to undertake an Audit with respect to that Statement and the Operating Year to which that particular Statement relates
shall automatically and irrevocably be waived. Any Statement shall be final and binding upon Tenant and shall, as between the parties, be conclusively deemed correct, at the end of the applicable Response Period, unless prior thereto, Tenant timely
delivers an Audit Notice with respect to the then-applicable Statement. If Tenant timely delivers an Audit Notice, Tenant must commence such Audit within one hundred twenty (120) days after the Audit Notice is delivered to Landlord, and the
Audit must be completed within one hundred twenty (120) days of the date on which it is begun. If Tenant fails, for any reason, to commence and complete the Audit within such periods, the Statement that Tenant elected to Audit shall be deemed
final and binding upon Tenant and shall, as between the parties, be conclusively deemed correct. The Audit shall take place at the offices of Landlord where its books and records are located, at a mutually convenient time during Landlord’s
regular business hours. Before conducting the Audit, Tenant must pay the full amount of Operating Expenses billed under the Statement then in question. Tenant hereby covenants and agrees that the Accountant engaged by Tenant to conduct the Audit
shall be compensated on an hourly basis and shall not be compensated based upon a percentage of overcharges it discovers. If an Audit is conducted in a timely manner, such Audit shall be deemed final and binding upon Landlord and Tenant and shall,
as between the parties, be conclusively deemed correct. If the results of the Audit reveal that the Tenant’s ultimate liability for Operating Expenses does not equal the aggregate amount of Additional Rent actually paid by Tenant to Landlord,
for Operating Expenses, during the Operating Year that is the subject of the Audit, the appropriate adjustment shall be made between Landlord and Tenant, and 

  

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any payment required to be made by Landlord or Tenant to the other shall be made within thirty (30) days after the Accountant’s determination. In
no event shall this Lease be terminable nor shall Landlord be liable for damages based upon any disagreement regarding an adjustment of Operating Expenses. In the event, however, that any Audit timely and properly performed by Tenant results in
Tenant’s receiving a refund of Operating Expenses in excess of three percent (3.0%) of the aggregate amount of Operating Expenses actually paid to Landlord by Tenant during the Operating Year with respect to which the Audit is performed,
then Landlord shall be obligated to reimburse Tenant for the actual, documented cost of the Audit. Tenant agrees that the results of any Audit shall be kept strictly confidential by Tenant and shall not be disclosed to any other person or entity.

 4. USE OF PREMISES. 
 4.1. Use of Premises. The Premises shall be used by the Tenant for the purpose(s) set forth in Section 1.7 above and for no other purpose whatsoever. Tenant shall not, at any time, use
or occupy, or suffer or permit anyone to use or occupy, the Premises, or do or permit anything to be done in the Premises, in any manner that may (a) violate any Certificate of Occupancy (or comparable certification or authorization issued by
any governmental authority asserting jurisdiction over the Premises), for the Premises; (b) cause injury to, or in any way impair the value or proper utilization of, all or any portion of the Premises; (c) constitute a violation of the
laws and requirements of any public authority or the requirements of insurance bodies, or any covenant, condition or restriction affecting the Premises; (d) exceed the load bearing capacity of the floor of the Improvements; or (e) have any
detrimental environmental effect on the Premises that arises out of a violation or violations of any Laws (as defined below). On or prior to the date hereof, Tenant has completed and delivered for the benefit of Landlord a “Tenant Operations
Inquiry Form” in the form attached hereto as Exhibit B describing the nature of Tenant’s proposed business operations at the Premises, which form is intended to, and shall be, relied upon by Landlord. From time to time during the
Term (but no more often than once in any twelve month period, unless Tenant is in default hereunder or unless Tenant assigns this Lease or subleases all or any portion of the Premises, whether or not in accordance with Section 8), Tenant
shall provide an updated and current Tenant Operations Inquiry Form upon Landlord’s request. 
 4.2.
Signage. At all times during the Term, any and all signage must fully comply with all applicable laws, regulations and ordinances. Tenant shall remove all signs of Tenant upon the expiration or earlier termination of this Lease and
immediately repair any damage to the Premises caused by, or resulting from, such removal. 
 4.3. Liens.
During the Term, Tenant will promptly, but no later than thirty (30) days after the date Tenant first has actual knowledge of the filing thereof, or such shorter period as shall prevent the forfeiture of the Premises, remove and discharge of
record, by bond or otherwise, any charge, lien, security interest or encumbrance upon any of the Premises, Base Rent and Additional Rent which charge, lien, security interest or encumbrance arises for any reason, including, but not limited to, all
liens that arise out of the possession, use, occupancy, construction, repair or rebuilding of the Premises or by reason of labor or materials furnished, or claimed to have been furnished, to Tenant for the Premises, but not including any
encumbrances expressly permitted under this Lease or any charge, lien security interest or encumbrance created as the result of any act or omission of Landlord or in connection with any work performed or indebtedness incurred by or on behalf of
Landlord. Nothing contained in this Lease shall be construed as constituting the consent or request of Landlord, express or implied, by inference or otherwise, to or for the performance of any contractor, laborer, materialman, or vendor of any labor
or services or for the furnishing of any materials for any construction, alteration, addition, repair or demolition of or to the Premises or any part thereof. Notice is hereby given that, during the Term, Landlord will not be liable for any labor,
services or materials furnished or to be furnished to Tenant, or to anyone holding an interest in the Premises or any part thereof through or under Tenant, and that no mechanics or other liens for any such labor, services or materials shall attach
to or affect the interest of Landlord in and to the Premises. In the event of the failure of Tenant to discharge any charge, lien, security interest or encumbrances as aforesaid, Landlord may 

  

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discharge such items by payment or bond or both, and Section 25.4 hereof shall apply. Provided Tenant is diligently contesting any such lien or
encumbrance in accordance with applicable law, in lieu of a bond Tenant shall have the option to deposit cash with Landlord in an amount sufficient to fully discharge such lien or encumbrance (as reasonably determined by Landlord, the “Lien
Deposit”), which Lien Deposit may be used by Landlord to discharge, settle or otherwise satisfy the applicable lien or encumbrance at any time after the commencement of foreclosure proceedings or before forfeiture of the Premises or any
portion thereof. 
 4.4. Restrictive Covenants. Throughout the Term, Tenant shall be responsible, at its
sole cost and expense, for material compliance with the terms, provisions and requirements imposed on the owner of the Land under any and all restrictive covenants, deed restrictions and other private restrictions encumbering the Premises
(collectively, “Restrictive Covenants”), and Tenant shall also be responsible for the timely payment of any assessments, maintenance charges or costs imposed, under any Restrictive Covenants, on the owner of the Land. 
 5. CONDITION AND DELIVERY OF PREMISES. Tenant agrees that Tenant (or an affiliate thereof) is the former owner of the Premises; as a
result, Tenant is familiar with the condition of the Premises, and Tenant hereby accepts the foregoing on a strictly “AS-IS,” “WHERE-IS” basis. Tenant acknowledges that neither Landlord nor Agent, nor any representative of
Landlord, has made any representation as to the condition of the foregoing or the suitability of the foregoing for Tenant’s intended use. Tenant represents and warrants that Tenant has made its own inspection of the foregoing. At no time during
the Term shall either Landlord or Agent be obligated to make any repairs, replacements or improvements (whether structural or otherwise) of any kind or nature to the foregoing in connection with, or in consideration of, this Lease, except to the
extent any such repair, replacement or improvement shall be necessitated as the direct result of any gross negligence or willful misconduct of Landlord or Agent or any Indemnitee. 
 6. SUBORDINATION; ESTOPPEL CERTIFICATES; ATTORNMENT. 
 6.1. Subordination and Attornment. This Lease is and shall be subject and subordinate at all times to (a) all
ground leases or underlying leases that may now exist or hereafter be executed affecting the Premises, including, without limitation, the Master Lease (as such term is hereinafter defined), and (b) any mortgage or deed of trust that may now
exist or hereafter be placed upon, and encumber, any or all of (x) the Premises; (y) any ground leases or underlying leases for the benefit of the Premises; and (z) all or any portion of Landlord’s interest or estate in any of
said items; provided, however, that except with regard to the Master Lease, the foregoing provision shall only be applicable with respect to those mortgages, deeds of trust, and leases as to which Tenant has been provided a reasonable, normal and
customary Subordination, Non Disturbance and Attornment Agreement (the “SNDA”). No SNDA shall impose any economic obligations on Tenant in addition to those economic obligations imposed under this Lease, nor may any SNDA require any
change in, or modification of, this Lease that shall impose any material obligation or responsibility on Tenant. Tenant shall join with any such lessor, mortgagee or trustee and execute promptly (and, in any event, within ten (10) business days
after receipt of a written request therefor) an SNDA. 
 6.2. Estoppel Certificate. Each party hereto
agrees, from time to time and within ten (10) business days after request by the other party hereto, to deliver to the requesting party, or the requesting party’s designee, an estoppel certificate in reasonable, normal and customary form,
as reasonably requested by the requesting party, with such modifications as may be necessary to make such certificate factually accurate. Failure by the party to whom such request has been made to timely execute and deliver such certificate shall
automatically constitute an acceptance by such party that the statements included therein are true and correct without exception. 
 6.3. Transfer by Landlord. In the event of a sale or conveyance by Landlord of the Premises, the same shall operate to release Landlord from any future liability for any of the covenants or conditions, express or
implied, herein contained in favor of Tenant and arising from and after the date of such conveyance, and in such event Tenant agrees to look solely to Landlord’s successor in interest (“Successor Landlord”) with respect thereto
and agrees to attorn to such successor. 
  

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 7. QUIET ENJOYMENT. Subject to the provisions of this Lease, so long as Tenant pays
all of the Rent and performs all of its other obligations hereunder on a timely basis (subject to any applicable notice and cure periods provided in this Lease), Tenant shall not be disturbed in its possession of the Premises by Landlord, Agent or
any other person lawfully claiming through or under Landlord. 
 8. ASSIGNMENT AND SUBLETTING; LEASEHOLD MORTGAGE.

 8.1. Prohibition. Tenant acknowledges that this Lease and the Rent due under this Lease have been
agreed to by Landlord in reliance upon (a) Tenant’s reputation and creditworthiness, (b) the Guarantor’s execution and delivery of the Guaranty (defined in Section 20.2); and (c) upon the continued operation of
the Premises by Tenant for the particular use set forth in Section 1.7 above; therefore, except as expressly permitted below in this Section 8, Tenant shall not, whether voluntarily, or by operation of law, assign or
otherwise transfer, mortgage, encumber or pledge all or any portion of its interest under this Lease. Any purported assignment, mortgage, transfer or pledge requiring, but made without, the prior written consent of Landlord, and where applicable,
Landlord’s lender, shall be absolutely null and void. No assignment of this Lease (including one permitted pursuant to Section 8.3 below) shall be effective and valid unless and until the assignee executes and delivers to Landlord
any and all documentation reasonably required by Landlord (and, if applicable, its lender) in order to evidence assignee’s assumption of all obligations of Tenant hereunder. Any consent by Landlord (and, if applicable, its lender) to a
particular assignment, mortgage, transfer or pledge shall not constitute consent or approval of any subsequent assignment, mortgage, transfer or pledge. No consent by Landlord (and, if applicable, its lender) to any assignment or sublease, whether
pursuant to this Section 8.1 or Section 8.3, shall be deemed to release either or both of (A) Tenant from its obligations hereunder and (B) Guarantor from its obligations under its Guaranty, as defined below; and
(x) Tenant shall remain fully liable for performance and satisfaction of all obligations and liabilities under this Lease; and (y) except as otherwise expressly provided in Section 2.5.4.5 above, Guarantor shall remain fully
liable for performance and satisfaction of all obligations and liabilities under the Guaranty. 
 8.2. Rights of
Landlord. If this Lease is assigned, or if the Premises (or any part thereof) are sublet or used or occupied by anyone other than Tenant, whether or not in violation of this Lease, Landlord or Agent may (without prejudice to, or waiver of
Landlord’s rights), Tenant hereby authorizes Landlord to collect Rent from the assignee or, after default by Tenant under this Lease, from the subtenant or occupant. Landlord or Agent may apply the net amount collected to the Rent herein
reserved, but no such assignment, subletting, occupancy or collection shall be deemed a waiver of any of the provisions of this Section 8.2. 
 8.3. Permitted Transfers. The provisions of Section 8.1 shall not apply to (a) a transfer or an assignment of this Lease in connection with the sale of substantially all the
original Tenant’s assets if: (I) such sale of assets occurs on an arms’-length basis, to an unrelated third party, and is for a bona fide business purpose and not primarily to transfer Tenant’s interest in this Lease; and (II)
upon the consummation of the transfer or assignment, the transferee or assignee is, in the sole, but reasonable determination of Landlord (and its lender, if applicable), capable of satisfying all of Tenant’s obligations hereunder; (b) an
assignment of this Lease to a successor to Tenant by merger, consolidation, reorganization or similar corporate restructuring or to an entity that controls, is controlled by, or is under common control with, Tenant; or (c) a subletting of the
Premises or any part thereof. In the case of an assignment or sublease that is expressly permitted pursuant to (a) or (c) of this Section 8.3, Tenant shall nevertheless be required to provide Landlord with notice of such
assignment or sublease and a true and complete copy of the fully-executed documentation pursuant to which the assignment or sublease, as applicable, has been effectuated within ten (10) business days after the effective date of such assignment
or sublease. Any permitted transferee under (a) of this Section 8.3 shall execute and deliver to Landlord any and all documentation reasonably required by Landlord in order to evidence assignee’s assumption of all obligations
of Tenant hereunder and to evidence the assignee’s compliance (or ability to comply) with (a)(II) above. Notwithstanding anything to the contrary contained in this Section 8.3, in no event may Tenant assign, mortgage, transfer,
pledge or sublease this Lease to any entity whatsoever if, at the time of such assignment, mortgage, transfer, pledge or sublease, a Default has occurred and remains continuing under this Lease. 
  

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 8.4. Financing of Leasehold Interest and Improvements. At no time
during the Term shall Tenant have the right to encumber (whether by mortgage, deed of trust, trust deed, pledge or other security interest) all or any portion of either or both of (x) its leasehold interest in the Premises and (y) any or
all of its fee simple or other interest in any Improvements. Landlord shall have no obligation, of any nature whatsoever, or under any circumstances, to permit Tenant to encumber (whether by mortgage, deed of trust, trust deed or other security
interest) all or any portion of either or both of (x) and (y) above. 
 9. COMPLIANCE WITH LAWS. 

9.1. Compliance with Laws. During the Term, Tenant shall, at its sole expense (regardless of the cost thereof),
comply in all material respects with all applicable local, state and federal laws, rules and regulations now or hereafter in force and all applicable judicial and administrative decisions in connection with the enforcement thereof pertaining to
either or both of the Premises and Tenant’s use and occupancy thereof (collectively, “Laws”), whether such Laws (a) concern or address matters of an environmental nature; (b) require the making of any structural,
unforeseen or extraordinary changes; and (c) involve a change of policy on the part of the body enacting the same, including, in all instances described in (a) through (c), but not limited to, the Americans With Disabilities Act of 1990
(42 U.S.C. Section 12101 et seq.). If any license or permit is required by Law for the conduct of Tenant’s business in the Premises, Tenant, at its expense, shall timely procure such license, and shall maintain such license or
permit in good standing throughout the Term. Tenant shall give prompt notice to Landlord of any written notice it receives of the alleged material violation of any Law with respect to either or both of the Premises and the use or occupation thereof.

 9.2. Hazardous Materials. If, at any time or from time to time prior to (but during the ownership of
the Premises by Tenant or its affiliate), during the Term, any Hazardous Material (defined below) is (or was, as the case may be) generated, transported, stored, used, treated or disposed of at, to, from, on or in the Premises: (i) Tenant
shall, at its own cost, at all times comply (and cause Tenant’s Parties to comply) in all material respects with all Laws relating to Hazardous Materials, and Tenant shall further, at its own cost, obtain and maintain in full force and effect
at all times all permits and other approvals required in connection therewith; and (ii) Tenant shall promptly provide Landlord or Agent, upon receipt of written request therefor, with complete copies of all valid and effective written permits
or agreements with, from or issued by any governmental authority or agency (federal, state or local) or any private entity relating in any way to the past (during the ownership of the Premises by Tenant or its affiliates) or a current (from time to
time throughout the Term) material release or threat of material release of Hazardous Materials on or in the Premises or any portion of the Premises, or the generation, transportation, treatment, or disposal at, on, in or from the Premises, of any
Hazardous Materials. Landlord, Agent and their respective agents and employees shall have the right to either or both (x) enter the Premises (with such notice as may be required under Section 16 except in the event of an emergency
presenting, in Landlord’s good faith determination, an imminent threat of bodily injury, death, or destruction of property) and (y), at Landlord’s sole cost and expense, conduct appropriate tests for the purposes of ascertaining
Tenant’s compliance with all applicable Laws or permits relating in any way to the generation, transport, storage, use, treatment, disposal or presence of Hazardous Materials on, at, in or from all or any portion of the Premises; however,
Landlord shall not exercise the foregoing right unless (A) Tenant is in Default hereunder or (B) Landlord is pursuing a sale or financing of the Premises (and, in the case of a potential sale or financing, Landlord may provide to a
potential third party buyer or lender the right to perform normal and customary environmental due diligence at and on the Premises); or (C) Landlord has a reasonable and good faith basis to believe that Tenant has materially failed to comply
with its obligations under this Section 9.2; provided, however, in the event that the written results of the tests conducted by or on behalf of Landlord under this Section 9.2(iii)(y) expressly and specifically
validate Landlord’s belief that Tenant has materially failed to comply with its obligations under this Section 9.2, Tenant shall promptly reimburse Landlord for Landlord’s out-of-pocket costs and fees incurred in connection
with such tests within ten (10) business days of receipt of written demand therefor. 
  

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 9.3. Storage Tanks. Tenant shall, throughout the Term and at its
sole cost and expense, maintain and monitor any and all underground storage tanks, aboveground storage tanks, any subsurface containment structures, clarifiers, oil-water separators, and all related systems (including dispensers) and equipment
located on the Premises and used, at any time, to collect or store Hazardous Materials (collectively, “Storage Tanks”) in compliance with all applicable Laws. Within ninety (90) days of the expiration or earlier termination of
this Lease (provided that such 90-day period may be extended to the extent necessary to obtain permits or authorizations required by Environmental Law to remove the Storage Tanks), Landlord may, at Landlord’s sole cost and expense,
(A) cause the complete removal of all Storage Tanks from the Premises, which removal shall be performed in compliance with all applicable Laws, and (B) take any and all actions necessary to close out the registration of the Storage Tanks
in compliance with all applicable Laws and procure a Certificate of Closure (or equivalent governmental certification or confirmation) from the applicable governmental authority, confirming that the Storage Tanks are no longer registered as such
with the applicable State. In the event Hazardous Materials related to Tenant’s operations of the Storage Tanks is confirmed above applicable industrial use standards allowed under Law (the “Contamination”), Tenant shall
reimburse Landlord for all reasonable and documented out-of-pocket costs to investigate and remediate the Contamination, provided Tenant shall not be liable for any releases of Hazardous Materials caused by or related to Landlord’s removal of
the Storage Tanks. Any remediation of the Storage Tanks shall be conducted under applicable non-residential use clean-up standards allowed pursuant to applicable Laws (the “Cleanup Standards”). In the event Landlord determines that
remediation is required for Contamination from the Storage Tanks and Landlord seeks reimbursement from Tenant for the cost thereof in accordance with the provisions of this Section 9.3, prior to the submission of any documents, reports
or other correspondence to any government agency (“Submittals”), Landlord shall provide draft copies to Tenant and allow Tenant at least ten (10) business days for Tenant’s review and approval, which approval shall not be
unreasonably denied, conditioned or delayed. Landlord shall incorporate any reasonable comments proposed by Tenant, provided that such comments are received within ten (10) business days of Tenant’s receipt of the
Submittals. Further, if Tenant does not approve the Submittals or provide comments within ten (10) business days of Tenant’s receipt of same, Tenant shall be deemed to have approved such Submittals. Tenant’s liability related to
any investigation or remediation of the Contamination shall terminate upon the procurement and delivery to Landlord of a so-called “No Further Action” letter or its equivalent from the applicable governmental authority. If the jurisdiction
in which the Contamination is located does not routinely issue a “No Further Action” letter or its equivalent, Tenant’s liability related to any investigation or remediation of the Contamination shall terminate upon achieving
compliance with applicable Cleanup Standards as such compliance is reasonably determined by Tenant, acting in good faith, which determination by Tenant shall be subject to Landlord’s approval, which approval shall not be unnecessarily withheld.

 9.4. Tenant’s Remediation. Tenant covenants to investigate, clean up and otherwise remediate, at
Tenant’s sole expense, any material release of Hazardous Materials occurring in, at, on and under the Premises during the Term of which Tenant has actual knowledge, as well as any material release of Hazardous Materials that occurred in, at, on
and under the Premises prior to the Term, but which release is identified, cited, or determined to exist at any time during the Term. Such investigation and remediation shall be performed only after Tenant has obtained Landlord’s prior written
consent, which consent shall not be unreasonably withheld, conditioned or delayed, and Tenant shall afford Landlord the reasonable opportunity to participate in any such investigation and remediation. All remediation shall be performed in compliance
with all applicable Laws. Prior to the submission of any Submittals to any government agency, Tenant shall provide draft copies to Landlord and allow Landlord at least ten (10) business days for Landlord’s review and approval, which
approval shall not be unreasonably denied, conditioned or delayed. Tenant shall incorporate any reasonable comments proposed by Landlord provided that such comments are received within ten (10) business days of Landlord’s receipt of
the Submittals. Further, if Landlord does not approve the Submittals or provide comments within ten (10) business days of Landlord’s receipt of same, Landlord shall be deemed to have approved such Submittals. Tenant shall not
enter into any settlement agreement, consent decree or other compromise with respect to any material claims (defined, for 

  

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purposes of this Section 9.4 only, as a $25,000 penalty or fine for any individual settlement agreement, consent decree or other compromise)
relating to any Hazardous Materials in any way connected to the Premises without first obtaining Landlord’s written consent (which consent may be given or withheld in Landlord’s sole, but reasonable, discretion), and affording Landlord the
reasonable opportunity to participate in any such proceedings. Additionally, with respect to this Section 9.4, Tenant may not agree to encumber the Premises with any environmental deed restrictions or other environmental land use
controls without Landlord’s written consent, which consent may be given in Landlord’s sole, but reasonable, discretion. 
 9.5. Definitions. As used herein, the term “Hazardous Material” means any pollutant, contaminant, pesticide, petroleum or petroleum product or by product, radioactive substance, hazardous or extremely
hazardous waste, dangerous or toxic waste, and any substance or material regulated, listed, limited or prohibited under any Environmental Law, including without limitation: (i) asbestos, asbestos-containing material, presumed
asbestos-containing material, polychlorinated biphenyls, solvents and waste oil; (ii) any “hazardous substance” as defined under CERCLA; and (iii) any “hazardous waste” as defined under RCRA; the term
“Environmental Law” means any present and future federal, state or local statute, regulation or ordinance or final court order issued with respect to Tenant and/or the Premises, which pertains to environmental matters or
contamination of any type whatsoever, as such has been amended, modified or supplemented from time to time (including all present and future amendments thereto and re-authorizations thereof), including, without limitation, those relating to:
(i) the manufacture, processing, use, distribution, treatment, storage, disposal, generation or transportation of Hazardous Materials; (ii) air, soil, surface, subsurface, groundwater or noise pollution; (iii) Releases;
(iv) protection of wildlife, endangered species, wetlands or natural resources; (v) Containers; and (vi) notification requirements relating to the foregoing; the term “Release” means any discharge, emission, escape,
injection, leak, migration, spill, dumping or other release of any Hazardous Material into the environment, except as allowed or permitted under applicable Environmental Laws or Environmental Permits; the term “Environmental Permit”
means any license, certificate, permit, directive, registration, government approval, agreement, authorization or consent which is required under or is issued pursuant to an Environmental Law; and the term “Container” means any
(i) above-ground or underground storage tank and related equipment; or (ii) barrel, drum, container, clarifier, oil/water separator or piping containing or previously containing any Hazardous Material. 
 9.6. Indemnity. Except to the extent same may be directly caused or contributed to by the gross negligence or willful
misconduct of an Indemnitee, Tenant hereby defends, indemnifies and holds harmless the Indemnitees from and against any and all Losses of whatever kind and nature that any or all of the Indemnitees suffers or incurs as a result of, or due to, or
because of either or both of (a) any accident, occurrence, condition involving, or release of, Hazardous Materials in, on or from the Premises prior to or during the Term and (b) the presence in, on or under or migration from the Premises
prior to or during the Term of any Hazardous Materials, including, without limitation, in the case of either or both of (a) and (b) any such Losses (x) arising out of any injury or death to any person or damage to any property or
(y) requiring (i) remediation, investigation, removal or treatment or (ii) any other remedial action or (iii) payment of any fine under the terms of any applicable Laws or any regulation, rule, guidance or directive of any
federal, state or local governmental authority. Notwithstanding anything to the contrary contained in this Lease, the provisions of this Section 9.6 will survive the termination or expiration of this Lease and the surrender of the
Premises by Tenant. 
 9.7. Survival. The undertakings, covenants and obligations imposed on Tenant under
this Section 9 shall survive the termination or expiration of this Lease. 
 10. INSURANCE. 

 10.1. Policies. Tenant shall purchase, at its own expense, and keep in force at all times during this Lease
the policies of insurance described on Exhibit H attached hereto and incorporated herein (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best rating
of excellent (A- or better) and shall be licensed to do business in the state in which the Premises 

  

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is located; (b) provide that said insurance shall not be canceled or materially modified unless 30 days’ prior written notice shall have been given
to Landlord; and (c) provide for deductible amounts as set forth in Exhibit H, though Landlord acknowledges that Tenant shall have the right to make reasonable changes to same from time to time in connection with comparable changes made
to its overall risk management program. The Tenant’s Policies providing either or both commercial property insurance and commercial general/garage or excess liability insurance shall: (1) provide coverage on an occurrence basis, except for
employee benefits liability insurance (under the garage insurance program) which may be on a claims-made basis; (2) except as otherwise specifically provided below, name all of (i) Landlord; (ii) First Industrial Realty Trust, Inc.,
but only during such period of time as Landlord is an entity related to, or affiliated with, First Industrial Realty Trust, Inc.; and (iii) Landlord’s lender, if applicable, as additional insureds; (3) provide coverage, to the extent
reasonably insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision (under Tenant’s commercial general or excess liability policy, but not under Tenant’s commercial
property insurance policy); (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage, with no exclusion, for a pollution incident arising from a hostile fire, and if
applicable, contain a hostile fire endorsement. Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement, evidencing Tenant’s Policies
shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses (as set forth on the signature page of this Lease) within thirty (30) days of the
renewal date thereof. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may order such insurance and charge the out-of-pocket cost thereof to Tenant, which amount
shall be payable by Tenant to Landlord upon demand, as Additional Rent. Tenant shall give prompt notice to Landlord and Agent of any significant (as determined by Tenant in the exercise of its reasonable judgment) bodily injury, death, significant
(as determined by Tenant in the exercise of its reasonable judgment) personal injury, advertising injury or material property damage occurring in and about the Premises of which Tenant has actual knowledge. Notwithstanding anything to the contrary
contained in this Section 10, upon the occurrence of a Default, Landlord shall have the right, upon written notice to Tenant, to purchase the aforementioned Tenant’s Policies on Tenant’s behalf and charge the out-of-pocket cost
thereof to Tenant, which amounts shall be payable by Tenant to Landlord, upon demand, as Additional Rent. 
 10.2.
Blanket Policies. Notwithstanding anything to the contrary contained in this Section 10, Tenant’s obligation to carry insurance may be satisfied by coverage under a so-called “blanket policy” or policies of
insurance; provided, however, that all insurance certificates provided by Tenant to Landlord pursuant to Section 10.1 above shall reflect that Tenant has been afforded coverage specifically with respect to the Premises. If Tenant elects
to satisfy any of its insurance obligations with a blanket policy or policies, such blanket policies shall contain one or more specific endorsements that (a) name Landlord, First Industrial Realty Trust, Inc. (but only during such period of
time as Landlord is an entity related to, or affiliated with, First Industrial Realty Trust, Inc.), and Landlord’s lender as an additional insureds, and (b) reference the Premises. 
 10.3. Landlord Procurement of Insurance. In the event Tenant fails to maintain same in accordance with the terms of this
Section 10, Landlord shall have the right, at any time during the Term and upon sixty (60) days’ prior written notice to Tenant, to elect to provide and carry the insurance described in Exhibit H. In such event, Tenant
shall be obligated to reimburse Landlord, as Additional Rent, for any and all premiums that Landlord pays for such insurance coverage, and Tenant shall be relieved of its obligation hereunder to maintain such insurance. Tenant shall pay such
reimbursement to Landlord within ten (10) business days after Landlord’s delivery to Tenant of written demand therefor. Notwithstanding any other provision of this Lease, Landlord and Tenant agree that under no circumstances whatsoever is
or shall Landlord be required to maintain any insurance, of any nature whatsoever, with respect to any Improvements located on or at the Premises at any time, or from time to time, during the Term. Further, Landlord and Tenant agree that Landlord
shall not, at any time or from time to time during the Term, nor under any circumstances, have (or be deemed to have) any premises liability for any bodily injury or property damage occurring in, at, on or upon the Premises. 
  

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 10.4. Waiver of Subrogation. Notwithstanding anything to the
contrary in this Lease, Tenant hereby waives its rights of recovery (if any) against Landlord and its officers, directors, constituent partners, members, agents and employees, and Tenant further waives such rights against (a) each lessor under
any ground or underlying lease encumbering the Premises and (b) each lender under any mortgage or deed of trust or other lien encumbering the Premises (or any portion thereof or interest therein), to the extent any loss is insured against or
required to be insured against under this Lease, including, but not limited to, losses, deductibles or self-insured retentions covered by Tenant’s commercial property, general liability, automobile liability or workers’ compensation
policies described above. This provision is intended to waive, fully and for the benefit of Landlord, any and all rights and claims that might give rise to a right of subrogation by any insurance carrier. Tenant shall cause its respective insurance
policy(ies) to be endorsed to evidence compliance with such waiver. 
 11. ALTERATIONS. 
 11.1. Alterations. Tenant may, from time to time at its sole expense, make alterations or improvements in and to the
Premises (hereinafter collectively referred to as “Alterations”), without first procuring Landlord’s consent, provided that: 
  

	 	(i)	the cost to demolish such Alterations, whether pursuant to a single occurrence or a series of occurrences during the Term, will not exceed the amount of $376,723.98
(“Alterations Cap”); and, therefore, require the delivery of a Demo Bid, as defined below; 

  

	 	(ii)	such Alterations are necessary and appropriate, in Tenant’s reasonable and good faith determination, for utilization in connection with Tenant’s then-current use of
the Premises, provided that such use is in compliance with Sections 1.7 and 4.1 of this Lease; and 

  

	 	(iii)	Tenant, in every instance, complies with the terms and conditions of Section 11.3 below. 

 In connection with Tenant’s potential election to perform Alterations from time to time throughout the Term, Landlord and Tenant have agreed that, as
a general matter, Tenant shall have the right to perform Alterations, subject to the requirements imposed under this Section 11; however, Landlord is concerned that the Alterations so performed and constructed by Tenant not significantly
increase the cost that Landlord shall incur, upon the Expiration Date or any earlier termination of this Lease, to demolish and remove the Improvements located on the Premises. As a result, Landlord and Tenant have agreed that, when the cost that
will be incurred to demolish (i) the then-planned Alterations will exceed the Alterations Cap, or (ii) any then-planned Alterations, together with the cost to demolish any other Alterations that (x) Tenant previously constructed or
installed and (y) did not require Landlord’s consent hereunder, will exceed the Alterations Cap, then Tenant may not proceed with the then-planned Alterations without first procuring (A) Landlord’s consent thereto and
(B) and delivering to Landlord a bid from a duly-licensed contractor, reasonably acceptable to Landlord, of the demolition cost that would be incurred in order to demolish the Alterations described in (i) or (ii) above, as applicable
(each, a “Demo Bid”). In each and every instance that Tenant contemplates the installation or construction of potential Alterations, Tenant shall use its reasonable and good faith efforts to determine, on an up-front basis, whether
or not the then-contemplated Alterations shall cause (i) or (ii) to become applicable and, therefore, whether or not Tenant shall be required to provide a Demo Bid to Landlord. 
 11.2. Consent to Alterations. If Landlord’s consent is required for any Alterations, Landlord shall not
unreasonably withhold its consent to any such Alterations: (i) reasonably required in order to accommodate a sublease or an assignment of this Lease (provided such assignment or sublease is permitted hereunder); or (ii) reasonably required
in order to accommodate Tenant’s business operations at the Premises, which business operations comply with Sections 1.7 and 4.1 of this Lease. 
 11.3. Other Requirements. Before proceeding with any Alterations, Tenant shall (i) at Tenant’s expense,
obtain all necessary governmental permits and certificates for the commencement and prosecution of Alterations; (ii) if Landlord’s consent is required for the planned Alteration, submit to Landlord, for its 

  

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written approval, working drawings, plans and specifications and all permits for the work to be done and Tenant shall not proceed with such Alterations until
it has received Landlord’s approval; (iii) cause those contractors, materialmen and suppliers engaged to perform the Alterations to maintain policies of builders risk, commercial general liability insurance (providing the same coverages as
required in Section 10 above) and workers’ compensation insurance; (iv) cause the Alterations to be performed in compliance with (a) all applicable permits, Laws and requirements of public authorities and (b) any
private restrictions encumbering the Premises, as evidenced by a document recorded against the Premises (as well as any other real property) and (v) cause the Alterations to be diligently performed in a good and workmanlike manner, using
materials and equipment at least equal in quality and class to those existing as of the date of this Lease. Upon the completion of any Alterations, Tenant shall provide Landlord with “as built” plans (with respect to vertical
improvements), if Tenant procures such as-built plans; copies of all construction contracts, governmental permits and certificates; and proof of payment for all labor and materials, including, without limitation, copies of paid invoices and final
lien waivers. The parties do not intend that the making of Alterations shall: (A) constitute income to Landlord; or (B) result in a deferral or denial of some or all of the federal, state or municipal income tax deductions that Landlord
would otherwise be permitted to report with respect to the Premises or this Lease; or (C) cause this Lease not to be a true lease for federal income tax purposes. Notwithstanding anything herein to the contrary, Landlord reserves the right to
withhold its consent to any proposed Alteration (for which Landlord’s consent is required) if Landlord, acting in good faith, reasonably concludes that the making or financing of such Alterations would result in some or all of federal, state or
municipal income tax deductions which Landlord would otherwise be permitted to report with respect to the Premises or this Lease being deferred or denied or cause this Lease not to be a true lease for federal income tax purposes. 
 12. CELLULAR TOWERS. At any time and from time to time throughout the Term, Landlord shall have the right to erect or cause to be
erected one or more cellular towers, at its expense, on the Premises (each and collectively, a “Landlord Cell Tower”). No such Landlord Cell Tower shall constitute a portion of the Improvements under this Lease and, therefore,
Landlord shall own all Landlord Cell Towers. Landlord’s right to erect, install, operate and maintain any Landlord Cell Tower shall be subject to the following: 
  

	 	(i)	The location of each Landlord Cell Tower shall be initially satisfactory to Tenant in its sole, but reasonable, discretion; 

  

	 	(ii)	No Landlord Cell Tower may be constructed in a location, or operated in a manner, that shall interfere with the Tenant’s day-to-day operation of its business or use of
the Premises or Improvements in accordance with the terms of this Lease, as such determination is made by Tenant in its sole, but reasonable, discretion; 

  

	 	(iii)	Landlord shall have the unilateral right to enter into leases with third parties, for utilization of all or some portion of any Landlord Cell Tower and Landlord shall have
the right to retain any and all income, of any nature whatsoever, generated from or by the utilization and operation of all Landlord Cell Towers; 

  

	 	(iv)	Neither Tenant nor any of its affiliates, owners, partners, directors, officers, agents or employees shall be liable to Landlord or any other party for any Losses or any
incidental, consequential, punitive, special or other similarly speculative damages arising out of or relating to any Landlord Cell Tower, irrespective of the cause of such injury, damage or loss. Further, neither Tenant nor any of its affiliates,
owners, partners, directors, officers, agents or employees shall be liable to Landlord or any other party (a) for any damage caused by other persons in, upon or about the any Landlord Cell Tower, or caused by operations in construction of any
public or quasi-public work involving any Landlord Cell Tower; (b) for any defect in any Landlord Cell Tower; (c) for injury or damage to person or property caused by any reason whatsoever relating directly or indirectly to any Landlord
Cell Tower; and 

  

	 	(v)	 Landlord hereby indemnifies, defends, and holds Tenant and all of its affiliates, owners, partners, directors, officers, agents and employees (collectively,
the “Tenant Indemnitees”) harmless from and 

  

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against any and all Losses arising from or in connection with any or all of: (a) the erection, installation, construction, presence, operation,
maintenance or lack of maintenance of any or all Landlord Cell Towers located on the Premises from time to time during the Term; (b) any accident, injury or damage whatsoever occurring during the Term in, at or upon any or all Landlord Cell
Towers and caused by anyone other than Tenant or any Tenant’s Party; and (c) any violation or alleged violation by any or all Landlord Cell Towers of any Law (collectively, “Landlord’s Indemnified Matters”). In case
any action or proceeding is brought against any or all of the Tenant Indemnitees by reason of any of Landlord’s Indemnified Matters, Landlord, upon receipt of written notice from Tenant, shall resist and defend such action or proceeding by
counsel reasonably satisfactory to Tenant. The preceding indemnity shall survive the expiration or termination of the Term. 

 From and after the Commencement Date, Tenant shall have no further right, of any nature, to erect or cause the erection of any cellular towers on the Premises. 
 13. TENANT’S REPAIRS AND MAINTENANCE. Tenant acknowledges that, with full awareness of its obligations under this Lease, and in light of the fact that Landlord acquired the Premises from
Tenant (or an affiliate of Tenant) as of the Commencement Date, Tenant has accepted the condition, state of repair and appearance of the Premises. Except for events of damage, destruction or casualty to the Premises (as addressed in
Section 18 below) Tenant agrees that, at its sole expense and throughout the Term, it shall put, keep and maintain the Premises, including any Alterations and any altered, rebuilt, additional or substituted building, structures and other
improvements thereto or thereon in such a manner and condition as will comply with all Laws. 
 14. UTILITIES. Tenant
shall purchase all utility services and shall provide for garbage, cleaning and extermination services. Tenant shall pay the utility charges for the Premises directly to the utility or municipality providing such service, all charges shall be paid
by Tenant before they become delinquent. Tenant shall be solely responsible for the repair and maintenance of any meters necessary in connection with such services. Tenant’s use of electrical energy in the Premises shall not, at any time,
exceed the capacity of either or both of (x) any of the electrical conductors and equipment in or otherwise servicing the Premises; and (y) the HVAC systems of the Premises. 
 15. INVOLUNTARY CESSATION OF SERVICES. Landlord reserves the right, without any liability to Tenant and without affecting
Tenant’s covenants and obligations hereunder, to stop service of any or all of the services provided by Landlord under this Lease, whenever and for so long as may be necessary by reason of (i) accidents, emergencies, strikes, or
(ii) any other cause beyond Landlord’s reasonable control. Further, it is also understood and agreed that Landlord or Agent shall have no liability or responsibility for a cessation of any services to the Premises that occurs as a result
of causes beyond Landlord’s or Agent’s reasonable control. No such interruption of any service shall be deemed an eviction or disturbance of Tenant’s use and possession of the Premises or any part thereof, or render Landlord or Agent
liable to Tenant for damages, or relieve Tenant from performance of Tenant’s obligations under this Lease, including, but not limited to, the obligation to pay Rent. 
 16. LANDLORD’S RIGHTS. Upon reasonable prior notice to Tenant (which may be delivered telephonically) and as long as Landlord does not unreasonably interfere with Tenant’s operations,
Landlord, Agent and their respective agents, employees and representatives shall have the right to enter and/or pass through the Premises during normal business hours (except in the event of emergency for which no prior notice is required) to
examine and inspect the Premises and to show it to actual and prospective lenders, prospective purchasers of the Premises or providers of capital to Landlord and its affiliates; and in connection with the foregoing and subject to Tenant’s
reasonable consent as to the location of same, to install a sign at or on the Premises to advertise the Premises for sale. During the period of six months prior to the Expiration Date (or at any time, if Tenant has abandoned the Premises or is
otherwise in Default under this Lease), Landlord and its agents may exhibit the Premises to prospective tenants during normal business hours and upon reasonable prior notice to Tenant (which may be delivered telephonically). 
  

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 17. NON-LIABILITY AND INDEMNIFICATION. 
 17.1. Non-Liability. Except (and only if and) to the extent directly caused by the willful misconduct or gross
negligence of Landlord or Agent or any other Indemnitee, none of Landlord, Agent, any other managing agent, or their respective affiliates, owners, partners, directors, officers, agents and employees shall be liable to Tenant for any loss, injury,
or damage, to Tenant or to any other person, or to its or their property, irrespective of the cause of such injury, damage or loss. Further, except (and only if and) to the extent directly caused by the willful misconduct or gross negligence of
Landlord or Agent or any other Indemnitee, none of Landlord, Agent, any other managing agent, or their respective affiliates, owners, partners, directors, officers, agents and employees shall be liable to Tenant (a) for any damage caused by
other persons in, upon or about the Premises, or caused by operations in construction of any public or quasi-public work; (b) with respect to matters for which Landlord is liable, for consequential or indirect damages purportedly arising out of
any loss of use of the Premises or any equipment or facilities therein by Tenant or any person claiming through or under Tenant; (c) for any defect in the Premises; (d) for injury or damage to person or property caused by fire, or theft,
or resulting from the operation of HVAC or lighting apparatus, or from falling plaster, or from steam, gas, electricity, water, rain, snow, ice, or dampness, that may leak or flow from any part of the Premises, or from the pipes, appliances or
plumbing work of the same. 
 17.2. Tenant Indemnification. Except in the event of (and only if and) to
the extent directly caused by Landlord’s or Agent’s or any other Indemnitee gross negligence or willful misconduct, and in addition to the indemnity set forth in Section 9.2 above, Tenant hereby indemnifies, defends, and holds
all Indemnitees harmless from and against any and all Losses arising from or in connection with any or all of: (a) Tenant’s operation of the Premises during the Term; (b) Tenant’s conduct or management of the Premises or any
business therein, or any work or Alterations done, or any condition created by any or all of Tenant and any or all of its member, partners, officers, directors, employees, invitees, managers, contractors, and representatives (collectively,
“Tenant’s Parties”), in or about the Premises during the Term; (c) any act, omission or negligence during the Term of any or all of Tenant and Tenant’s Parties; (d) any accident, injury or damage whatsoever
occurring during the Term in, at or upon the Premises and caused by any or all of Tenant and Tenant’s Parties; (e) any breach by Tenant of any or all of its warranties, representations and covenants under this Lease; (f) any actions
necessary to protect Landlord’s interest under this Lease in a bankruptcy proceeding or other proceeding under the Bankruptcy Code relating to this Lease or Tenant; (g) any violation or alleged violation by any or all of Tenant and
Tenant’s Parties of any Law; and (h) any claims made against Landlord by any third party contractor engaged by Tenant (collectively, “Tenant’s Indemnified Matters”). In case any action or proceeding is brought against
any or all of the Indemnitees by reason of any of Tenant’s Indemnified Matters, Tenant, upon receipt of written notice from any or all of Landlord, Agent or any Landlord’s lender, shall resist and defend such action or proceeding by
counsel reasonably satisfactory to Landlord. The term “Losses” shall mean all claims, demands, expenses, actions, judgments, damages (actual, but not incidental, consequential, punitive, special or other similarly speculative
damages), penalties or fines imposed by any Law, liabilities, losses of every kind and nature (other than incidental, consequential, punitive, special or other similarly speculative damages), suits, administrative proceedings, out-of-pocket costs
and fees, including, without limitation, reasonable attorneys’ and consultants’ fees and expenses, and the out-of-pocket costs of cleanup, remediation, removal and restoration, that are in any way related to any matter covered by the
foregoing indemnity or, as may be applicable based on the context in which the term “Losses” is used, any other indemnity herein. The provisions of this Section 17.2 shall survive the expiration or termination of this Lease.

 17.3. Flood Plain Indemnification. Landlord and Tenant hereby acknowledge that the Premises is
encumbered with a certain Flood Plain Indemnification, dated as of October 16, 2002 (the “Indemnification”), pursuant to which Tenant indemnifies Fulton County with respect to matters arising in connection with, or as a result
of, construction activities performed by Tenant pursuant to Land Disturbance Permit No. 02223LP (the “Permit”). Although the terms of the Indemnification state that the Indemnification shall be binding upon the heirs,
successors and assigns of Tenant, and shall constitute a covenant running with the land, Tenant hereby acknowledges and agrees that, throughout the Term, Tenant 

  

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shall remain solely responsible for the timely satisfaction of any and all obligations and liabilities imposed on the “Owner” under the
Indemnification (collectively, the “Indemnified Obligations”). As a result, Tenant hereby indemnifies, defends and holds all Indemnitees harmless from and against any and all Losses suffered or incurred by any or all of the
Indemnitees as a result of, or due to, or because Tenant fails to timely satisfy the Indemnification Obligations. The foregoing indemnity shall survive the termination or expiration of this Lease with respect to all Indemnification Obligations that
arise prior to the date on which this Lease expires or terminates. 
 18. CASUALTY AND CONDEMNATION. 
 18.1. Casualty. If any Improvements shall be damaged or destroyed by fire or other casualty (each, a
“Casualty”), Tenant shall have the right to elect to either (a) repair, rebuild or replace such Improvements or (b) retain the proceeds of any insurance recovered by reason of such damage to, or such destruction of, the
Improvements, whichever Tenant deems necessary or desirable, in Tenant’s sole and absolute discretion. Tenant shall advise Landlord, in writing, promptly upon the occurrence of any casualty, and Tenant shall subsequently (within ninety
(90) days of the occurrence of the casualty), advise Landlord whether Tenant elects (a) or (b) above in connection with that casualty. In the event that Tenant elects (a) above, then the requirements of Section 11.3
shall apply with respect to any repairs and restoration that Tenant pursues. If Tenant elects (b), then Tenant shall be obligated to promptly demolish the affected Improvements, at Tenant’s sole cost and expense. Any and all demolition
shall be performed in compliance with all Laws and all demolition debris shall be removed from the Premises, also in compliance with all applicable Laws. Regardless of the nature of extent of any casualty, Tenant shall not have the right to
terminate this Lease. 
 18.2. Condemnation. If more than twenty percent (20%) of the gross square
footage comprising the Premises as of the Commencement Date is taken or condemned for any public use under any Law or by right of eminent domain, or by private purchase in lieu thereof (in any case, a “Material Taking”), then Tenant
shall have the right to terminate this Lease by so advising Landlord, in writing (“Taking Termination Notice”), within ninety (90) days of the first date on which Tenant receives written notice of the Material Taking, whereupon
the termination shall be effective on the date that Tenant states in its Taking Termination Notice (“Taking Termination Date”), but in no event may such stated Taking Termination Date be later than one hundred eighty (180) days
after the date of the delivery of the Taking Termination Notice. If Tenant elects to timely deliver the Taking Termination Notice, there shall be no abatement of Rent prior to the Taking Termination Date. If Tenant fails to timely deliver the Taking
Termination Notice, then Tenant shall automatically and irrevocably be deemed to have waived its right to terminate this Lease as a result of the Material Taking, whereupon for purposes of this Lease from and after the waiver of the termination
option, (a) the Material Taking shall instead be treated as a Partial Taking, as discussed below, and (b) the Award (as defined below) shall be paid in the manner described below. If (i) any portion of the Premises is taken or
condemned for any public use under any Law or by right of eminent domain, or by private purchase in lieu thereof, but a Material Taking does not occur; or (ii) all or any portion of any Improvements then located on the Premises is taken or
condemned for any public use under any Law or by right of eminent domain, or by private purchase in lieu thereof (in the case of (i) or (ii), a “Partial Taking”), neither Landlord nor Tenant shall have any right to terminate
this Lease. 
 In the event of a Material Taking, Landlord shall be entitled to any and all payment, income, rent or award, or any interest
therein whatsoever, which may be paid or made in connection with such a taking (“Award”) and Tenant shall (x) have no claim against Landlord for the value of any unexpired portion of this Lease nor (y) have any claim to
all or any portion of the Award. Notwithstanding the preceding sentence, however, any compensation specifically and independently awarded to Tenant for loss of business or goodwill, for its personal property or otherwise shall be the property of
Tenant, and Tenant shall have the right to separately and independently seek such compensation, so long as any such compensation paid to Tenant does not reduce Landlord’s Award. 
  

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 If a Partial Taking occurs, but such Partial Taking involves and affects only the Premises, without
involving or affecting any of the Improvements, then the entire Award shall be paid to Landlord. 
 If a Partial Taking occurs, such Partial
Taking affects and involves both the Premises and the Improvements, and the applicable governmental authority either (i) issues a single Award for the Partial Taking, or pays a single purchase price, if the Partial Taking is a purchase in lieu
of formal governmental action (for purposes of this Section 18, such a purchase price shall also constitute an Award), and that governmental entity specifies an allocation of the Award between the value of the portion of the Premises
taken (to be paid to Landlord) and the value of the portion of the Improvements taken (to be paid to Tenant), or (ii) issues separate and distinct Awards for the value of the Premises and the value of the Improvements taken, respectively, then
Landlord and Tenant shall be bound by the determination of that governmental authority and either (1) the Award shall be shared between Landlord and Tenant in accordance with the government-directed allocation of value between Premises and
Improvements, or (2) the separate and distinct Awards shall be paid to Landlord (for the value of the Premises taken) and paid to Tenant (for the value of the Improvements taken), and neither Landlord nor Tenant shall have any right to contest
the determination of the governmental authorities allocation of the Award (whether by way of a single Award or the issue of two separate and distinct Awards). 
 If, however, a Partial Taking occurs that affects and involves both the Premises and the Improvements, and the applicable governmental authority fails or refuses to either (1) allocate its single Award between
value as to the portion of the Premises that is the subject of the Partial Taking and value of the portion of the Improvements that is the subject of the Partial Taking or (2) issue separate and distinct Awards for the portion of the Premises
that is the subject of the Partial Taking and the value of the portion of the Improvements that is the subject of the Partial Taking, then Landlord and Tenant shall allocate the single Award between them, as follows: (A) first, the sum of $0.61
per square foot of the Premises so taken shall be paid to Landlord from the Award; and (B) second, Landlord shall receive 22.88% and Tenant shall receive 77.12% of the remainder of the Award. 
 If a Partial Taking occurs (or if a Material Taking occurs, but this Lease is not terminated), then the Rent due hereunder shall be ratably adjusted,
effective as of the effective date of the Taking . Such adjustment shall be on a proportionate basis, reducing the annual Base Rent by the percentage that is represented by the fraction in which the numerator is the aggregate number of square feet
comprising that portion of the Premises that is the subject of the Taking and the denominator is the aggregate number of square feet comprising the Premises immediately preceding the Taking. 
 19. SURRENDER AND HOLDOVER. On the last day of the Term, or upon any earlier termination of this Lease, or upon any repossession of
the Premises by Landlord hereunder: (a) Tenant shall quit and surrender the Premises to Landlord “broom-clean” (as defined by Exhibit B, attached hereto and incorporated herein by reference), and in a condition that would
reasonably be expected with normal and customary use in accordance with prudent operating practices and in accordance with the covenants and requirements imposed under this Lease, subject only to ordinary wear and tear (as is attributable to
deterioration by reason of time and use, in spite of Tenant’s reasonable care); (b) Tenant shall remove all of Tenant’s personal property therefrom, except as otherwise expressly provided in this Lease; (c) Tenant shall remove
from the Premises all motor vehicles of any nature whatsoever (including, but not limited to, automobiles, trucks, recreational vehicles and boats); and (d) Tenant shall surrender to Landlord any and all keys, access cards, computer codes or
any other items used to access the Premises. Upon prior notice (which may be delivered telephonically) and as long as Landlord does not unreasonably interfere with Tenant’s operations, Landlord shall be permitted to inspect the Premises during
normal business hours in order to verify compliance with this Section 19 at any time prior to (x) the Expiration Date, (y) the effective date of any earlier termination of this Lease, or (z) the surrender date otherwise
agreed to in writing by Landlord and Tenant. The obligations imposed under the first sentence of this Section 19 shall survive the termination or expiration of this Lease. If Tenant remains in possession after the Expiration Date hereof
or after any earlier termination date of this Lease or of Tenant’s right to possession (collectively, the “Termination Date”): (i) Tenant shall be deemed a tenant-at-will; (ii) Tenant shall pay the Holdover Percentage
(as defined below) multiplied by the aggregate of all Rent last prevailing hereunder, and also shall pay all actual 

  

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damages (but not incidental, consequential, punitive, special or other similarly speculative damages) sustained by Landlord, directly by reason of
Tenant’s remaining in possession after the expiration or termination of this Lease; (iii) there shall be no renewal or extension of this Lease by operation of law; and (iv) the tenancy-at-will may be terminated by either party hereto
upon 30 days’ prior written notice given by the terminating party to the non-terminating party. As used herein, the “Holdover Percentage” shall mean either (A) during the first ninety (90) days after the Termination Date,
125% or (B) from and after ninety-one (91) days after the Termination Date, 150%. The provisions of this Section 19 shall not constitute a waiver by Landlord of any re-entry rights of Landlord provided hereunder or by law.

 20. EVENTS OF DEFAULT. 
 20.1. Bankruptcy of Tenant or Guarantor. It shall be a default by Tenant under this Lease (“Default” or “Event of Default”) if either or both of Guarantor and
Tenant makes an assignment for the benefit of creditors, or files a voluntary petition under any state or federal bankruptcy (including the United States Bankruptcy Code) or insolvency law, or an involuntary petition is filed against either or both
of Guarantor and Tenant, as the case may be, under any state or federal bankruptcy (including the United States Bankruptcy Code) or insolvency law that is not dismissed within 90 days after filing, or whenever a receiver of either or both of
Guarantor and Tenant, as the case may be, or of, or for, the property of either or both of Guarantor and Tenant, as the case may be, shall be appointed (and, in the case of an involuntary receivership, such receivership has not been vacated or set
aside within sixty (60) days thereafter), or either or both of Guarantor and Tenant, as the case may be, admits it is insolvent or is not able to pay its debts as they mature. 
 20.2. Default Provisions. In addition to any Default arising under Section 20.1 above, each of the
following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any
consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall
fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such
failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than
the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such
30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its
remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this
Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of
the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather,
the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the
“Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be
delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease. 
 20.3. Termination of Cross-Default. In the event that, at any time during the Term, the original Landlord named
hereunder elects to sell, transfer or convey its interest in the Premises to an unrelated third 

  

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party, on a so-called “one off” basis (a “Third Party Sale”), then in connection with the consummation of that Third Party Sale,
Landlord and Tenant shall enter into an amendment to this Lease in order to delete subsection 20.2(c) from this Lease. As a result, from and after the date on which the originally named Landlord consummates the Third Party Sale, this Lease shall no
longer be cross-defaulted with any or all of the Other Leases; provided, however, that all of the Other Leases shall remain subject to the Cross-Default Concept, as defined below. Additionally, in connection with such Third Party Sale, Exhibit
D to each and all of the Other Leases shall be automatically modified in order to delete this Lease therefrom as of the date on which the Third Party Sale is consummated. Landlord and Tenant agree that the cross-default concept created as a
result of the inclusion of Section 20.2(c) herein and in the Other Leases (“Cross-Default Concept”) shall remain in effect, with respect to this Lease and all of the Other Leases for so long as all of (a) the
Premises and (b) all of the real properties encumbered by all of the Other Leases (the “Other Properties”) are all owned by either (i) a single third party, regardless of whether or not that single third party is comprised
of multiple entities (“Third Parties”) or (ii) multiple third parties that are directly or indirectly owned by a Third Party (e.g., a series of separate, but related, entities, each of which owns one or some, but less than all,
of the Premises and the Other Properties). As a result, then, if at any time or from time to time during the Term, Landlord (whether the originally named Landlord or a successor thereto) and the landlords under the Other Leases sell, transfer or
convey all of their respective right, title and interest in all of (x) the Premises and (y) the Other Properties in a single portfolio transaction, such that the Premises and the Other Properties are all acquired by a party described in
(i) or (ii) above (in either case, a “Replacement Landlord”), then neither this Lease nor the Other Leases shall be modified to delete Section 20.2(c) therefrom nor to delete any of this Lease and the Other
Leases from Exhibit D. Tenant acknowledges that there are three (3) original landlord entities acquiring all of the Premises and the Other Properties (“Original Landlord Entities”). Those Original Landlord Entities are
related to one another. For so long as any of the Original Landlord Entities, or any other parties that are controlled by, control, or are under common control with, any of the Original Landlord Entities (collectively, with the Original Landlord
Entities, the “Collective Landlord Entities”), own any or all of the Premises and the Other Properties, the Cross-Default Concept shall remain in effect and applicable with respect to all leases (whether this Lease and/or any or all
of the Other Leases) encumbering all of the Premises and Other Properties owned from time to time by the Collective Landlord Entities. As an example only, if the Original Landlord Entities sell three (3) of the Other Properties via three
(3) separate and distinct Third Party Sales, but the Collective Landlord Entities continue to own the Premises and the remaining Other Properties, then the Cross-Default Concept shall continue to apply with respect to this Lease and the Other
Leases encumbering the Other Properties owned by the Collective Landlord Entities. 
 21. RIGHTS AND REMEDIES.

 21.1. Landlord’s Cure Rights Upon Default of Tenant. If a Default occurs, then Landlord may (but
shall not be obligated to) cure or remedy the Default for the account of, and at the expense of, Tenant, but without waiving such Default. 
 21.2. Landlord’s Remedies. In the event of any Default by Tenant under this Lease, Landlord, at its option, may, in addition to any and all other rights and remedies provided in this Lease or
otherwise at law or in equity do or perform any or all of the following: 
 21.2.1. Terminate this Lease and
Tenant’s right to possession of the Premises by any lawful means, in which case Tenant shall immediately surrender possession to Landlord. In such event, Landlord shall be entitled to recover from Tenant all of: (i) the unpaid Rent that is
accrued and unpaid as of the date on which this Lease is terminated; (ii) the worth, at the time of award, of the amount by which (x) the unpaid Rent that would otherwise be due and payable under this Lease (had this Lease not been
terminated) for the period of time from the date on which this Lease is terminated through the Expiration Date exceeds (y) the amount of such rental loss that the Tenant proves could have been reasonably avoided; and (iii) any other amount
necessary to compensate Landlord for all the Losses proximately caused by the Tenant’s failure to perform its obligations under this Lease or which, in the 

  

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ordinary course of events, would be likely to result therefrom, including but not limited to, the out-of-pocket cost of recovering possession of the
Premises, expenses of reletting, including renovation and alteration of the Premises, reasonable attorneys’ fees, and that portion of any leasing commission paid by Landlord in connection with this Lease applicable to the unexpired Term (as of
the date on which this Lease is terminated). The worth, at the time of award, of the amount referred to in provision (ii) of the immediately preceding sentence shall be computed by discounting such amount at the current yield, as of the date on
which this Lease is terminated under Section 21, on United States Treasury Bills having a maturity date closest to the stated Expiration Date of this Lease, plus three percent (3%) per annum. If this Lease is terminated through any
unlawful entry and detainer action, Landlord shall have the right to recover in such proceeding any unpaid Rent and damages as are recoverable in such action, or Landlord may reserve the right to recover all or any part of such Rent and damages in a
separate suit; or 
 21.2.2. Commence dispossessory proceedings with or without the termination of this Lease. Tenant
shall remain liable for the payment of all Rent accruing after any writ of possession as to the Premises is issued to Landlord. 
 21.2.3. Terminate Tenant’s right of possession only, without termination of the Lease. Upon any termination of Tenant’s right to possession only, without termination of the Lease, Landlord may, at Landlord’s option,
enter into the Premises, remove Tenant’s signs and other evidences of tenancy, and take and hold possession thereof as provided below, without such entry and possession terminating the Lease or releasing Tenant, in whole or in part, from any
obligation, including Tenant’s obligation to pay Rent, including any amounts treated as Additional Rent, hereunder for the full Term. In any such case, Landlord may relet the Premises on behalf of Tenant for such term or terms (which may be
greater or less than the period which would otherwise have constituted the balance of the Term) and on such terms and conditions (which may include concessions of free rent and alteration, repair and improvement of the Premises) as Landlord, in its
sole discretion, may determine and receive directly the Rent by reason of the reletting. Tenant agrees to pay Landlord on demand any deficiency that may arise by reason of any reletting of the Premises. Tenant further agrees to reimburse Landlord
upon demand for any expenditures made by it for remodeling or repairing in order to relet the Premises and for all other expenses incurred in connection with such reletting (including without limitation attorney’s fees and brokerage
commissions). Following any termination of Tenant’s right to possession only, without termination of the Lease, Landlord agrees to use reasonable efforts to relet the Premises at fair market rental rates and to otherwise mitigate any damages
arising out of an Event of Default on the part of Tenant; provided, however, that (i) Landlord shall have no obligation to treat preferentially the Premises compared to other premises Landlord has available for leasing within the Project or in
other properties owned or managed by Landlord; (ii) Landlord shall not be obligated to expend any efforts or any monies beyond those Landlord would expend in the ordinary course of leasing space within the Improvements; and (iii) in
evaluating a prospective reletting of the Premises, the term, rental, use and the reputation, experience and financial standing of prospective tenants are factors which Landlord may properly consider. Except as set forth in the preceding sentence,
Landlord shall have no obligation to relet the Premises or any part thereof and shall not be liable for failure to relet the Premises or any part thereof, or, in the event of any such reletting, for refusal or failure to collect any rent due upon
such reletting. 
 21.2.4. Continue the Lease and Tenant’s right to possession and recover the Rent as it becomes
due. Acts of maintenance, efforts to relet, and/or the appointment of a receiver to protect the Landlord’s interests shall not constitute a termination of the Tenant’s right to possession; or 
 21.2.5. Pursue any other remedy now or hereafter available under the laws of the state in which the Premises are located.

 21.2.6. Without limitation of any of Landlord’s rights in the event of a Default by Tenant, Landlord may also
exercise its rights and remedies with respect to any security held or maintained by Landlord. 
  

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 Any and all personal property of Tenant that may be removed from the Premises by Landlord pursuant to the
authority of this Lease or of law may be handled, removed or stored by Landlord, provided same is performed with commercially reasonable care, at the sole risk, cost and expense of Tenant, and in no event or circumstance shall Landlord be
responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all out-of-pocket expenses incurred in such removal and all storage charges for such property of Tenant so long as the same shall be
in Landlord’s possession or under Landlord’s control. Any such property of Tenant not removed from the Premises as of the Expiration Date or any other earlier date on which this Lease is terminated shall be conclusively presumed to have
been conveyed by Tenant to Landlord under this Lease as in a bill of sale, without further payment or credit by Landlord to Tenant. Neither expiration or termination of this Lease nor the termination of Tenant’s right to possession shall
relieve Tenant from its liability under the indemnity provisions of this Lease. 
 21.3. Additional Rights of
Landlord. All sums advanced by Landlord or Agent on account of Tenant under this Section, or pursuant to any other provision of this Lease, and all Base Rent and Additional Rent, if delinquent or not paid by Tenant and received by Landlord
when due hereunder, shall bear interest at the rate equal to the lesser of (a) the greatest rate permitted by applicable Law, or (b) Prime, plus 3% per annum (“Default Interest”), from the due date thereof (provided,
however, that if Tenant is entitled to notice and opportunity to cure a monetary default under Section 20.2, then such interest shall not accrue until expiration of such cure period) until paid, and such interest shall be and constitute
Additional Rent and be due and payable upon Landlord’s or Agent’s submission of an invoice therefor. The various rights, remedies and elections of Landlord reserved, expressed or contained herein are cumulative and no one of them shall be
deemed to be exclusive of the others or of such other rights, remedies, options or elections as are now or may hereafter be conferred upon Landlord by law. 
 21.4. Event of Bankruptcy. In addition to, and in no way limiting the other remedies set forth herein, Landlord and Tenant agree that if Tenant ever becomes the subject of a voluntary or
involuntary bankruptcy, reorganization, composition, or other similar type proceeding under the federal bankruptcy laws, as now enacted or hereinafter amended, then: (a) “adequate assurance of future performance” by Tenant pursuant to
Bankruptcy Code Section 365 will include (but not be limited to) payment of an additional/new security deposit in the amount of three times the then current monthly Base Rent payable hereunder; (b) any person or entity to which this Lease
is assigned, pursuant to the provisions of the Bankruptcy Code, shall be deemed, without further act or deed, to have assumed all of the obligations of Tenant arising under this Lease on and after the effective date of such assignment, and any such
assignee shall, upon demand by Landlord, execute and deliver to Landlord an instrument confirming such assumption of liability; (c) notwithstanding anything in this Lease to the contrary, all amounts payable by Tenant to or on behalf of
Landlord under this Lease, whether or not expressly denominated as “Rent”, shall constitute “rent” for the purposes of Section 502(b)(6) of the Bankruptcy Code; and (d) if this Lease is assigned to any person or entity
pursuant to the provisions of the Bankruptcy Code, any and all monies or other considerations payable or otherwise to be delivered to Landlord or Agent (including Base Rent, Additional Rent and other amounts hereunder), shall be and remain the
exclusive property of Landlord and shall not constitute property of Tenant or of the bankruptcy estate of Tenant. Any and all monies or other considerations constituting Landlord’s property under the preceding sentence not paid or delivered to
Landlord or Agent shall be held in trust by Tenant or Tenant’s bankruptcy estate for the benefit of Landlord and shall be promptly paid to or turned over to Landlord. 
 21.5. Sale of Premises. Notwithstanding anything contained in this Lease to the contrary, the sale of the Premises by
Landlord shall not constitute Landlord’s acceptance of Tenant’s abandonment of the Premises or rejection of the Lease or in any way impair Landlord’s rights upon Tenant’s default, including, without limitation, Landlord’s
right to damages. 
 22. BROKER. Tenant covenants, warrants and represents that no broker represented Tenant in the
negotiation of this Lease. Landlord covenants, warrants and represents that, no brokers or advisors represented Landlord in the negotiation of this Lease. Each party agrees to and hereby does defend, indemnify and hold the 

  

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other harmless against and from any brokerage commissions or finder’s fees or claims therefor by a party claiming to have dealt with the indemnifying
party and all costs, expenses and liabilities in connection therewith, including, without limitation, reasonable attorneys’ fees and expenses, for any breach of the foregoing. The foregoing indemnification shall survive the termination or
expiration of this Lease. 
 23. FINANCIAL INFORMATION. 
 23.1. Deliveries. Throughout the period of time during which Guarantor submits ‘34 Act filings on the Electronic
Data Gathering, Analysis and Retrieval (EDGAR) system of the Securities and Exchange Commission in accordance with the Securities and Exchange Act of 1934, as amended from time to time (“Public Filer”), Guarantor shall have no
obligation to furnish Landlord with any financial information and Landlord shall procure and such financial information concerning Guarantor from publicly available information filed with, at the direction of, or pursuant to the requirements of, the
Securities and Exchange Commission. For so long as the original named Tenant remains the Tenant under this Lease, then Tenant shall deliver to Landlord, on a quarterly basis, income statements (prepared in accordance with generally accepted
accounting principles) for each of Tenant and ADESA Auctions, an affiliate of Tenant. Each such income statement shall be certified, as to its accuracy, by a duly authorized officer of the entity for which the operating statement is prepared. In the
event that either or both of the following applies: (a) the Guarantor is no longer a Public Filer and (b) this Lease has been assigned or otherwise transferred in accordance with the provisions of Section 8 above, then the
following requirements shall apply to either or both of Guarantor or Tenant, as the case may be: (i) from time to time during the Term but not more frequently than once in any consecutive twelve month period (except in the event that (A) a
Guaranty Default occurs, (B) Tenant is otherwise in Default hereunder or (C) in the event that Landlord is pursuing a potential sale or refinancing of the Premises), Tenant shall deliver to Landlord, or cause Guarantor and Tenant to
deliver to Landlord, as the case may be, within ten (10) business days following receipt of Landlord’s written request therefor, the most currently available audited financial statements of each of Guarantor and Tenant, respectively; and
if no such audited financial statements have been theretofore prepared and, therefor, are not available for either or both of Guarantor and Tenant, then either or both of Guarantor and Tenant, as the case may be, shall instead deliver to Landlord
their most currently available unaudited balance sheets, operating statements, income statements and statements of cash flow and equity; (ii) without the need for Landlord to make any written request therefor, Tenant shall deliver to Landlord,
or cause Guarantor and Tenant to deliver to Landlord, as the case may be, their respective annual federal tax returns within thirty (30) days after the filing thereof with the Internal Revenue Service; and (iii) upon the delivery, whether
by Guarantor or by Tenant, of any such financial information described in clause (i) above, Guarantor and Tenant each shall be deemed (unless Guarantor and/or Tenant specifically states otherwise in writing) to automatically represent and
warrant to Landlord that such financial information is true, accurate and complete in all material respects, and that, except as specifically stated in writing, there has been no material adverse change in the financial condition of either or both
of Guarantor and Tenant, as the case may be, from the date that such financial information was prepared through the date such financial information is delivered to Landlord. 
 24. OPTION TO PURCHASE EQUIPMENT AND/OR IMPROVEMENTS. 
 24.1. If at any time prior to the expiration or earlier termination of the Lease, Landlord elects to acquire title to all or any
portion of the Equipment (as defined in the Master Lease) and the Improvements (as defined in the Master Lease) (collectively, the “Equipment and Improvements”), Landlord shall use commercially reasonably efforts to cause the Master
Landlord to convey the Equipment and Improvements, or such portion thereof as is then being acquired, directly to Tenant and otherwise in accordance with the conveyance requirements of the Master Lease, provided, however, that Landlord shall not be
required to incur any out-of-pocket expenses or liabilities in connection with its use of commercially reasonable efforts to cause such conveyance to be made directly to Tenant. If for any reason Landlord acquires title to all or any portion of the
Equipment and Improvements prior to the expiration or earlier termination of the Lease, Landlord shall simultaneously convey to Tenant (a) that portion of the Equipment and Improvements 

  

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acquired that consists of improvements, which conveyance to Tenant shall occur via Quitclaim Deed in the form attached hereto as Exhibit I and
(b) that portion of the Equipment and Improvements acquired that consists of equipment, which conveyance to Tenant shall occur via Quitclaim Bill of Sale in the form attached hereto as Exhibit J. At the expiration or earlier termination
of the Lease, title to all Equipment and Improvements previously conveyed to Tenant shall automatically be deemed to vest in Landlord, without the need for any affirmative action by Tenant; provided, however, that as an accommodation to Landlord,
Tenant agrees to also convey all such Equipment and Improvements back to Landlord via Quitclaim Deed in the form attached hereto as Exhibit I and/or Quitclaim Bill of Sale in the form attached hereto as Exhibit J, as appropriate.

 24.2. At any time prior to the expiration or earlier termination of the Lease, and provided that no Event of Default
is outstanding under this Lease, Tenant shall have the right to cause Landlord, upon not less than five (5) business days’ prior written notice to Landlord, to exercise Landlord’s option, if any, under the Master Lease to acquire any
or all of the Equipment and Improvements, and Landlord shall use commercially reasonable efforts to cause the Master Landlord to convey the Equipment and Improvements, or such portion thereof as is then being acquired, directly to Tenant and
otherwise in accordance with the conveyance requirements of the Master Lease; provided, however, that Landlord shall not be required to incur any out-of-pocket expenses or liabilities in connection with its use of commercially reasonable efforts to
cause such conveyance to be made directly to Tenant. If for any reason Landlord acquires title to any or all of the Equipment and Improvements in connection with Tenant’s exercise of its right under this subsection 24.2, Landlord shall
simultaneously convey to Tenant (a) that portion of the Equipment and Improvements acquired that consists of improvements, which conveyance shall occur via Quitclaim Deed in the form attached hereto as Exhibit I and (b) that portion
of the Equipment and Improvements acquired that consists of equipment, which conveyance shall occur via Quitclaim Bill of Sale in the form attached hereto as Exhibit J. At the expiration or earlier termination of the Lease, title to all
Equipment and Improvements previously conveyed to Landlord shall automatically be deemed to vest in Landlord, without the need for any affirmative action by Tenant; provided, however that as an accommodation to Landlord, Tenant agrees to then convey
all such improvements and/or equipment back to Landlord via Quitclaim Deed in the form attached hereto as Exhibit I and/or Quitclaim Bill of Sale in the form attached hereto as Exhibit J, as appropriate. Tenant further agrees to pay to
Landlord, within ten (10) business days of Landlord’s delivery of written demand therefor, Landlord’s actual, documented out-of-pocket costs and expenses (including reasonable attorneys’ fees) in connection with the transfer of
the Equipment and Improvements to Tenant as described in this Section 24. 
 24.3. As provided in
Section 3.1.4.5 above, Tenant shall be solely responsible for the timely payment of any Taxes levied on or with respect to the Premises if and to the extent that any or all of the Property Tax Incentives are cancelled or rendered null and void
as a direct result of any actions taken by Landlord in accordance with either or both of the requirements of this Section 24 or Tenant’s direction pursuant to this Section 24. 
 25. MISCELLANEOUS. 
 25.1. Merger. All prior understandings and agreements between the parties are merged in this Lease, which alone fully and completely expresses the agreement of the parties. No agreement shall be
effective to modify this Lease, in whole or in part, unless such agreement is in writing, and is signed by the party against whom enforcement of said change or modification is sought. 
 25.2. Notices. Any notice required to be given by either party pursuant to this Lease, shall be in writing and shall
be deemed to have been properly given, rendered or made only if personally delivered, or if sent by Federal Express or other comparable commercial overnight delivery service, addressed to the other party at the addresses set forth below each
party’s respective signature block (or to such other address as Landlord or Tenant may designate to each other from time to time by written notice), and shall be deemed to have been given, rendered or made on the day so delivered or on the
first business day after having been deposited with the courier service. For the purpose of this Lease, (i) Landlord’s counsel may provide notices 

  

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to Tenant on behalf of Landlord and such notices shall be binding on Tenant as if such notices have been provided directly by Landlord and
(ii) Tenant’s counsel may provide notices to Landlord on behalf of Tenant and such notices shall be binding on Landlord as if such notices have been provided directly by Tenant. 
 25.3. Non-Waiver. The failure of either party to insist, in any one or more instances, upon the strict performance of
any one or more of the obligations of this Lease, or to exercise any election herein contained, shall not be construed as a waiver or relinquishment for the future of the performance of such one or more obligations of this Lease or of the right to
exercise such election, but the Lease shall continue and remain in full force and effect with respect to any subsequent breach, act or omission. The receipt and acceptance by Landlord or Agent of Base Rent or Additional Rent with knowledge of breach
by Tenant of any obligation of this Lease shall not be deemed a waiver of such breach. 
 25.4. Advances by
Landlord. If Tenant shall fail to make or perform any payment or act required by this Lease within any applicable cure period, then Landlord may at its option make such payment or perform such act for the account of Tenant, and Landlord
shall not thereby be deemed to have waived any default or released Tenant from any obligation hereunder. Landlord shall give Tenant five (5) business days’ notice (except in the case of an emergency) prior to Landlord making such payment
or protective advance. All amounts so paid by Landlord and all incidental out-of-pocket costs and expenses (including reasonable attorneys’ fees and expenses) actually incurred in connection with such payment or performance, together with
interest at the Default Interest rate (or at the highest rate not prohibited by applicable law, whichever is less) from and including the date of the making of such payment or of the incurring of such costs and expenses to and including the date of
repayment, shall be paid by Tenant to Landlord on demand. 
 25.5. Parties Bound. Except as otherwise
expressly provided for in this Lease, this Lease shall be binding upon, and inure to the benefit of, the successors and assignees of the parties hereto. Tenant hereby releases Landlord named herein from any obligations of Landlord for any period
subsequent to the conveyance and transfer of Landlord’s ownership interest in the Premises. In the event of such conveyance and transfer, Landlord’s obligations shall thereafter be binding upon each transferee (whether successor landlord
or otherwise). No obligation of Landlord shall arise under this Lease until the instrument is signed by, and delivered to, both Landlord and Tenant. 
 25.6. Recordation of Lease. Tenant shall not record or file this Lease in the public records of any county or state; provided, however, Landlord and Tenant agree to execute a recordable memorandum
of this Lease in the form attached hereto as Exhibit G, which memorandum shall be recorded, at Tenant’s expense, in the real property records of the county in which the Premises are situated. 
 25.7. Governing Law; Construction. This Lease shall be governed by and construed in accordance with the laws of the
state in which the Premises is located. If any provision of this Lease shall be invalid or unenforceable, the remainder of this Lease shall not be affected but shall be enforced to the extent permitted by law. The captions, headings and titles in
this Lease are solely for convenience of reference and shall not affect its interpretation. This Lease shall be construed without regard to any presumption or other rule requiring construction against the party causing this Lease to be drafted. Each
covenant, agreement, obligation, or other provision of this Lease to be performed by Tenant, shall be construed as a separate and independent covenant of Tenant, not dependent on any other provision of this Lease. All terms and words used in this
Lease, regardless of the number or gender in which they are used, shall be deemed to include any other number and any other gender as the context may require. 
 25.8. Time. Time is of the essence for this Lease. If the time for performance hereunder falls on a Saturday, Sunday
or a day that is recognized as a holiday in the state in which the Premises is located, then such time shall be deemed extended to the next day that is not a Saturday, Sunday or holiday in said state. 
 25.9. Authority of Tenant. Tenant and the person(s) executing this Lease on behalf of Tenant hereby represent,
warrant, and covenant with and to Landlord as follows: the individual(s) acting as signatory on behalf of Tenant is(are) duly authorized to execute this Lease; Tenant has procured (whether from its 

  

 31 

 
members, partners or board of directors, as the case may be), the requisite authority to enter into this Lease; this Lease is and shall be fully and
completely binding upon Tenant; and Tenant shall timely and completely perform all of its obligations hereunder. 
 25.10. Authority of Landlord. Landlord and the person(s) executing this Lease on behalf of Landlord hereby represent, warrant, and covenant with and to Tenant as follows: the individual(s) acting as signatory on behalf
of Landlord is(are) duly authorized to execute this Lease; Landlord has procured (whether from its members, partners or board of directors, as the case may be), the requisite authority to enter into this Lease; this Lease is and shall be fully and
completely binding upon Landlord; and Landlord shall timely and completely perform all of its obligations hereunder. 
 25.11. WAIVER OF TRIAL BY JURY. THE LANDLORD AND THE TENANT, TO THE FULLEST EXTENT THAT THEY MAY LAWFULLY DO SO, HEREBY WAIVE TRIAL BY JURY IN ANY ACTION OR PROCEEDING BROUGHT BY ANY PARTY TO THIS LEASE WITH RESPECT TO
THIS LEASE, THE PREMISES, OR ANY OTHER MATTER RELATED TO THIS LEASE OR THE PREMISES. 
 25.12.
Interpretation. Any references in this Lease to “Landlord” shall include any successors and assigns of Landlord hereunder. 
 25.13. Submission of Lease. Submission of this Lease to Tenant for signature does not constitute a reservation of space or an option to lease. This Lease is not effective until execution by and
delivery to both Landlord and Tenant. 
 25.14. Counterparts. This Lease may be executed in multiple
counterparts, each of which shall constitute an original, but all such counterparts shall together constitute a single, complete and fully-executed document. 
 25.15. No Estate in Land. Tenant shall be granted a usufruct only in the Premises under this Lease, and not a
leasehold or other estate in land, and that Tenant’s interest hereunder is not subject to levy, execution and sale and is not, unless expressly provided herein, assignable except with Landlord’s prior written consent. 
 25.16. Entire Lease. It is expressly agreed by Tenant, as a material consideration for the execution of this Lease,
that this Lease is the entire agreement of the parties; that there are, and were, no oral representations, warranties, understandings, stipulations, agreements or promises pertaining to this Lease not incorporated in writing in this Lease. This
Lease may not be altered, waived, amended or extended except by an instrument in writing executed and delivered by Landlord and Tenant in the same manner as the execution and delivery of this Lease. Landlord and Tenant expressly agree that there are
and shall be no implied warranties of merchantability, habitability, fitness for a particular purpose or of any other kind arising out of this Lease and there are no warranties which extend beyond those expressly set forth in this Lease. 

25.17. EXCULPATION. IF LANDLORD SHALL BE IN DEFAULT UNDER THIS LEASE AND, IF AS A CONSEQUENCE OF SUCH DEFAULT,
TENANT SHALL RECOVER A MONEY JUDGMENT AGAINST LANDLORD, SUCH JUDGMENT SHALL BE SATISFIED ONLY OUT OF THE RIGHT, TITLE AND INTEREST OF LANDLORD IN THE PREMISES AND NEITHER LANDLORD NOR ANY PERSON OR ENTITY COMPRISING LANDLORD SHALL BE LIABLE FOR ANY
DEFICIENCY. IN NO EVENT SHALL TENANT HAVE THE RIGHT TO LEVY EXECUTION AGAINST ANY PROPERTY OF LANDLORD NOR ANY PERSON OR ENTITY COMPRISING LANDLORD OTHER THAN ITS INTEREST IN THE PREMISES AS HEREIN EXPRESSLY PROVIDED. 
 25.18. Jurisdiction and Venue. Each party hereby consents to jurisdiction and venue in the federal and state courts
located in Fulton County, Georgia with respect to any matter relating to or arising from this Lease. 
  

 32 

 25.19. No Partnership. This Lease does not constitute and shall not
be construed as constituting a partnership or joint venture between the parties hereto, and no party shall have any right to obligate or bind any other party in any manner whatsoever, and nothing herein contained shall give or is intended to give
any rights of any kind to any third persons, parties or entities. 
 25.20. Master Lease. Landlord is the
lessee under that certain Lease Agreement with the Development Authority of Fulton County (“Master Landlord”) dated as of December 1, 2002 and amended by that certain First Amendment to Lease Agreement dated September 26,
2008, (as amended from time to time, the “Master Lease”) whereby Landlord leases the Premises from Master Landlord. Tenant acknowledges that Landlord has the right to possess the Premises pursuant to the Master Lease. This Lease is
subject to and subordinate in all respects to all of the terms and provisions of the Master Lease, and, notwithstanding anything to the contrary contained herein, no provision hereof granting Tenant any power, right, benefit or privilege shall be
operative or effective, if and to the extent that exercise or enjoyment of the same would constitute or result in any breach of, default under, or termination of, the Master Lease. Landlord and Tenant shall each refrain from performing any act which
is prohibited by the Master Lease. Landlord and Tenant each covenant and agree that any notices required to be delivered under the Master Lease (including, without limitation, any default notices thereunder) must also be delivered to the other party
at the respective address and in the manner provided herein in Section 25.2. Tenant shall perform all affirmative covenants and obligations under the Master Lease where the obligation to perform is by its nature imposed upon the party in
possession of the Premises. Upon reasonable advance notice to Tenant (except in the event of an emergency), Landlord shall have the right to enter the Premises to cure any default by Tenant under this Section 25.20. 
 [Signature Page Follows] 
  

 33 

 IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Lease as of the day and year first
above written. 
  

			
	LANDLORD:
	
	FIRST INDUSTRIAL, L.P., a Delaware limited partnership
		
	By:	 	 First Industrial Realty Trust, Inc.,
 a Maryland
corporation and its
sole general partner

		
	By:	 	/s/    DAVID HARKER
	Name:	 	David Harker
	Its:	 	Executive Director of Investments
	
	TENANT:
	
	ADESA ATLANTA, LLC, a New Jersey
limited liability company
		
	By:	 	/s/    PAUL J. LIPS
		 	Paul J. Lips, a manager

  

			
	Landlord’s Addresses for Notices:	  	Tenant’s Addresses for Notices:
		
	 c/o First Industrial Realty Trust, Inc.
 311 South Wacker
Drive, Suite 4000
 Chicago, Illinois 60606
 Attn: Operations
Department
	  	 c/o ADESA, Inc.
 13085 Hamilton Crossing Boulevard,
Suite 500
 Carmel, Indiana 46032
 Attn: Michelle
Mallon

		
	 With a copy to:
  
 First Industrial Realty Trust, Inc.
 Five Concourse Parkway, Suite
2020
 Atlanta, Georgia 30328
 Attn: Operations
Director
	  	 With a copy to:
  
 Winston & Strawn LLP
 35 West Wacker Drive
 Chicago, Illinois 60601
 Attn: Ankur Gupta

		
	 With a copy to:
  
 Barack Ferrazzano Kirschbaum & Nagelberg LLP
 200 West Madison Street

 Suite 3900
 Chicago, Illinois 60606
 Attn: Suzanne Bessette-Smith
	  	

  

 S-1 

 EXHIBIT A 
 PREMISES 
 EXHIBIT A—LAND 
 Legal Description 
 Parcel “I” 
 All that tract or parcel of land situated and lying in Land Lots 24, 25, 34, 35 and 36,
9th Land District, Fulton County, Georgia and being more particularly described as follows: 
 Beginning at a  1/2 inch rebar at the intersection of the south line of Oakley Industrial Boulevard (variable R/W) with the west line of the CSX Railroad (100’ R/W); thence, along the west line of the CSX
Railroad and with a curve to the right having a radius of 5309.24 feet, a chord bearing and distance of South 24 degrees 15 minutes 38 seconds East, 693.18 feet and an arc distance of 693.68 feet to a  1/2 inch rebar; thence, South 20 degrees 31 minutes 03 seconds East, continuing along the west line of the CSX Railroad, a distance of 553.23 feet to a point; thence, South
76 degrees 17 minutes 13 seconds West, leaving the CSX Railroad and along the north line of a tract of land conveyed to Ruby O. Thompson, as recorded in Deed Book 13140, page 238, Deed Records of Fulton County, Georgia, passing a 1 inch axle at a
distance of 0.20 feet and continuing for a total distance of 646.19 feet to a 3/8 inch rebar in concrete; thence, South 13 degrees 46 minutes 17 seconds East, along the west line of said Thompson tract, a distance of 290.79 feet to a 3/8 inch rebar
in concrete; thence, North 76 degrees 17 minutes 13 seconds East, along the south line of said Thompson tract, a distance of 680.59 feet to a  1/2 inch rebar on the west line of said CSX Railroad; thence, South 20 degrees 31 minutes 03 seconds East, along the west line of the CSX Railroad, a distance of 442.92 feet to a 2 inch pipe; thence, South 76 degrees 49
minutes 39 seconds West, leaving the CSX Railroad and along the north line of a tract of land conveyed to Gerald M. Cochran, a distance of 146.69 feet to a 1 inch pipe; thence, along the north line of a tract of land conveyed to Oakley
Estates, Inc., the following calls: first, South 76 degrees 46 minutes 08 seconds West, a distance of 543.87 feet to a 1 inch pipe; thence, North 66 degrees 20 minutes 13 seconds West, a distance of 370.17 feet to a 1 inch pipe; thence, South 76
degrees 58 minutes 28 seconds West, a distance of 291.19 feet to a 1 inch pipe; thence North 69 degrees 29 minutes 59 seconds West, a distance of 573.17 feet to a 1 inch pipe; thence South 01 degrees 11 minutes 44 seconds East, along the west line
of said Oakley Estates, Inc. tract, a distance of 980.19 feet to a 1 inch pipe; thence, South 88 degrees 23 minutes 36 seconds East, along the south line of said Oakley Estates, Inc. tract and the apparent south line of Land Lot 35, a distance of
737.84 feet to a point; thence, South 68 degrees 39 minutes 43 seconds West, a distance of 2250.48 feet to a point; thence, North 16 degrees 24 minutes 31 seconds West, a distance of 378.99 feet to a point; thence, North 33 degrees 57 minutes 04
seconds West, a distance of 544.71 feet to a point; thence, North 08 degrees 58 minutes 32 seconds West, a distance of 624.34 feet to a point; thence, North 09 degrees 42 minutes 26 seconds East, a distance of 536.07 feet to a point on the south
line of said Oakley Industrial Boulevard; thence, along the south line of Oakley Industrial Boulevard the following calls: first, along a curve to the left having a radius of 2925.17 feet, a chord bearing and distance of North 51 degrees 55 minutes
24 seconds East, 436.00 feet and an arc distance of 436.40 feet to a concrete right-of-way monument; thence, North 47 degrees 38 minutes 42 seconds East, a distance of 479.45 feet to a concrete right-of-way monument; thence, along a curve to the
right having a radius of 2232.10 feet, a chord bearing and distance of North 58 degrees 28 minutes 53 seconds East, 849.46 feet and an arc distance of 854.69 feet to a concrete right-of-way monument; thence. North 69 degrees 26 minutes 09 seconds
East, a distance of 1527.41 feet to the Point of Beginning and containing 152.29 acres of land, more or less. 
 LESS
AND EXCEPT that tract or parcel of land described in Right of Way Deed dated January 9, 2004, by and between Adesa Atlanta, LLC and Fulton County recorded in Deed Book 37006, page 615. Said tract containing 2.6985 acres more or less.

 LEGAL DESCRIPTION 
 Parcel “N” 
 All that tract or
parcel of land situated and lying in Land Lots 23, 24 and 25, 9th Land District, Fulton County, Georgia, and being more particularly described as
follows: 
 Beginning at a  1/
2 inch rebar at the intersection of the southerly line of Wood Road (variable R/W) with the west line of Lee’s Mill Road (apparent 50’ R/W); thence, South 02 degrees 21
minutes 28 seconds West, along the west line of Lee’s Mill Road, a distance of 75.17 feet to a  1/2 inch rebar; thence North
88 degrees 15 minutes 01 seconds West, leaving Lee’s Mill Road and along the north line of a tract of land conveyed to Sloan J. Dailey, as recorded in Deed Book 265.14, page 269, Deed Records of Fulton County, Georgia, a distance of 414.86 feet
to a  1/2 inch rebar; thence, South 02 degrees 23 minutes 11 seconds West, along the west line of said Dailey tract, a distance
of 209.99 feet to a  1/2 inch rebar; thence, South 88 degrees 14 minutes, 56 seconds East, along the south line of said Dailey
tract, a distance of 414.89 feet to a  1/2 inch rebar on the west line of Lee’s Mill Road; thence, South 02 degrees 21
minutes 16 seconds West, along the west line of Lee’s Mill Road, a distance of 172.00 feet to a 1 inch flat iron; thence, leaving Lee’s Mill Road and along the south line of a tract of land conveyed to M.D. Hodges, Inc., as recorded in
Deed Book 10585, page 90, the following calls: first, North 88 degrees 15 minutes 00 seconds West, a distance of 849.03 feet to a 1 inch axle; thence, North 88 degrees 21 minutes 50 seconds West, a distance of 235.01 feet to a  1/2 inch rebar; thence, North 88 degrees 20 minutes 19 seconds West, a distance of 326.85 feet to a 1 inch pipe; thence, North 88
degrees 32 minutes 43 seconds West, a distance of 176.26 feet to a cross cut on a rock; thence, North 88 degrees 18 minutes 12 seconds West, a distance of 1157.73 feet to a  1/2 inch rebar; thence, North 88 degrees 24 minutes 55 seconds West, a distance of 237.39 feet to a 3/8 inch rebar at the southwest corner of said M.D. Hodges, Inc. tract; thence, North 04 degrees
21 minutes 53 seconds East, along the west line of said M.D. Hodges, Inc. tract, a distance of 706.83 feet to a 1 inch pipe; thence, North 86 degrees 49 minutes 02 seconds West, along the south line of a tract of land conveyed to M.D. Hodges
Enterprises, Inc., as recorded in Deed Book 9574, pages 472, Deed Records of Fulton County, Georgia, a distance of 192.12 feet to a  5/8 inch rebar; thence, North 86 degrees 47 minutes 41 seconds West, continuing along said south line, a distance of 133.55 feet to a  5/8 inch rebar at the southeast corner of a tract of land conveyed to PYA Monarch, Inc., as recorded in Deed Book 29373, page 582, Deed Records, Fulton County, Georgia; thence, along the east line of said PYA Monarch,
Inc. tract the following calls: First, North 42 degrees 15 minutes 01 seconds East, a distance of 365.10 feet to a 5/8 inch rebar; thence, North 12 degrees 14 minutes 26 seconds East, a distance of 131.32 feet to a sanitary sewer manhole; thence,
North 40 degrees 59 minutes 35 seconds West, a distance of 1.90 feet to point; thence, North 68 degrees 39 minutes 43 seconds East, leaving said PYA Monarch, Inc. tract, a distance of 2688.52 feet to a point on the south line of a tract of land
conveyed to Oakley Estates, Inc., said point also being on the apparent north line of Land Lot 24; thence, South 88 degrees 23 minutes 36 seconds East, along the south line of said Oakley Estates, Inc. tract and said north line of Land Lot 24, a
distance of 468.82 feet to a 1 inch pipe at the apparent northeast corner of Land Lot 24 and the northeast corner of said M.D. Hodges Enterprises, Inc. tract; thence, South 05 degrees 09 minutes 25 seconds West, along the east line of said M.D.
Hodges Enterprises, Inc. tract and the apparent east line of Land Lot 24, a distance of 563.70 feet to a  1/2 inch rebar on the
north line of the terminus of Wood Road as defined by said M.D. Hodges Enterprises, Inc. tract; thence, South 88 degrees 59 minutes 19 seconds West, along said north line of Wood Road, a distance of 29.93 feet to a  1
/2 inch rebar; thence, South 05 degrees 14 minutes 05 seconds West, along the west line of Wood Road as defined by said M.D. Hodges Enterprises, Inc. tract, a
distance of 169.12 feet to a 2 inch pipe at the northeast corner of a tract of land conveyed to Fife Baptist Church; thence, South 88 degrees 52 minutes 42 seconds West, leaving Wood Road and along the north line of the Fife Baptist Church tract, a
distance of 253.70 feet to a 1 1/2 inch angle iron; thence, South 88 degrees 15 minutes 50 seconds West, continuing along the
north line of the Fife Baptist Church tract, a distance of 242.10 feet to a  1/2 inch rebar; thence. South 05 degrees 47 minutes
51 seconds West, along the west line of the Fife Baptist Church tract, a distance of 340.70 feef to a  1/2 inch rebar; thence,
South 81 degrees 27 minutes 16 seconds East, along the south line of the Fife Baptist Church tract, a distance of 250.78 feet to a 1 1/2 inch angle iron; thence, South 81 degrees 07 minutes 37 seconds East, continuing along the south line of the Fife Baptist Church tract, a distance of 246.02 feet to a  1/2 inch pipe on the west line of Wood Road; thence, South 05 degrees 07 minutes 07 seconds West, 

 
along the west line of Wood Road, a distance of 77.59 feet to a  1/2 inch rebar at the northeast corner of a tract of land conveyed to Robert A. Wood; thence, North 88 degrees 23 minutes 30 seconds West, leaving Wood Road and along the north line of the Wood tract, a distance of
415.03 feet to a  1/2 inch rebar: thence. South 05 degrees 02 minutes 14 seconds West, along the west line of the Wood tract, a
distance of 227.89 feet to a  1/2 inch rebar; thence South 88 degrees 17 minutes 49 seconds East, along the south line of the
Wood tract, a distance of 154.41 feet to a  1/2 inch rebar; thence, South 64 degrees 38 minutes 18 seconds East, continuing along
the south line of the Wood tract, a distance of 53.89 feet to a 2 inch pipe; thence, South 64 degrees 32 minutes 53 seconds East, continuing along the south line of the Wood tract, a distance of 222.67 feet to a 1 inch rebar on the west line of said
Wood Road; thence, along the south line of Wood Road and with a curve to the left having a radius of 124.94 feet, a chord bearing and distance of South 40 degrees 54 minutes 48 seconds East, 82.79 feet and an arc distance of 84.39 feet to a  1/2 inch rebar; thence, South 60 degrees 05 minutes 17 seconds East, continuing along the south line of Wood Road, a distance of
167.04 feet to the Point of Beginning and containing 106.48 acres of land, more or less. 

 LEGAL DESCRIPTION 
 Tracts 1 and 2 
 All that tract or parcel of land lying and being in Land Lots 35 and 36 of Ninth
District of originally Fayette then Campbell now Fulton County, Georgia more fully described as follows: Commencing in the center of Fairburn and Fayetteville Highway at a point 250-1/2 feet southernly measured along said Highway from the North line
of land lots Nos. 35 and 36 run south 74 degrees, West 118 feet to center of Atlantic Coast Line Railroad, Thence continue Westerly on same course 698 feet to a corner, thence run South 16 degrees East 290 8/10 feet to a corner, thence run North 74
degrees East 731 feet to center of A.C.L. R.R. Thence continue Easterly in same course 158-1/2 feet to the center of Fairburn and Fayetteville Highway, Thence North 30 degrees and 45 minutes West along said highway 300 feet to point of beginning,
and containing 5 acres of land not including right of way of 100 feet wide belonging to Atlantic Coast Line Rail Road. This 5 acre tract of land is a part of the Tom Garden place and was deeded by Grady Carden and Mrs. Emmie Carden Findlay to
John Low Smith, and from John Low Smith to Lois Oakley. 
 MORE RECENTLY DESCRIBED IN A SURVEY BY INTEGRATED SCIENCE AND 
 ENGINEERING DATED JUNE 11, 2002, AS FOLLOWS: 
 TRACT 1 
 All that tract or parcel of land lying and being in Land Lots 35
and 36 of the 9th District, Fulton County, Georgia, and being more particularly described as follows: 
 To reach the true point of beginning, commence at a 1” open top pipe at the common land lot corner of land cots 35, 36, 23 and 24; 
 THENCE North 00 degrees 08 minutes 19 seconds West along the western land lot line of land lot 36 for a distance of 1192.30 feet to a point where the
South property line of tract 2 intersects the common land lot line of land lots 35 and 36; 
 THENCE North 76 degrees 17 minutes 31 seconds East along the South property line of tract 2 for a distance of 466.69 feet to a  1/2” rebar found at the west right of way of a CSX railroad (100’ R/W) and true point of beginning; 
 THENCE South 76 degrees 17 minutes 31 seconds West for a distance of 681.04 feet to a 3/8” rebar found; 
 THENCE North 13
degrees 46 minutes 35 seconds West for a distance of 290.84 feet to a 3/8” rebar found; 
 THENCE North 76 degrees 17 minutes 13 seconds
East for a distance of 646.02 feet to the western right of way of a 100’ CSX Railroad right of way and an axle found; 
 THENCE South 20 degrees 38 minutes 22 seconds East along the western right of way of a 100 foot
CSX right of way for a distance of 293.04 feet to a  1/2” rebar found and the true point of beginning; 
 Said property contains 4.43 acres more or less. 
 Total area tract 1 and tract 2 = 4.72 acres more or less. 

 TRACT 2 
 All that tract or parcel of land lying and being in Land Lot 36 of the 9th District, Fulton County, Georgia, and being more particularly described as follows: 
 To reach the true point of beginning, commence at a 1” open top pipe at the common land lot corner of land lots 35, 36, 23, and 24; 
 THENCE North 00 degrees 08 minutes 19 seconds West along the western land lot line of land lot 36 for a distance of 1192.30 feet to a point where the
South property line of tract 2 intersects the common land lot of land lots 35 and 36; 
 THENCE North 76 degrees 17 minutes 31 seconds East along the South property line of tract 2 for a distance of 486.69 feet to a  1/2” rebar at the west right of way of a CSX railroad (100’) R/W); 
 THENCE across the
right of way of the CSX railroad North 75 degrees 32 minutes 19 seconds East for a distance of 100.35 feet to a 60-penny nail on the east right of way of the 100’ wide CSX railroad and true point of beginning; 
 THENCE North 20 degrees 30 minutes 14 seconds West along the right of way of the CSX Railroad
(100’ R/W) for a distance of 291.99 feet to a  1/2” rebar found; 
 THENCE North 76 degrees 07 minutes 03 seconds East for a distance of 38.28 feet to the right of way of Fayetteville Road (100’ R/W) and a 1”
open top pipe; 
 THENCE South 22 degrees 16 minutes 14 seconds East along the right of way of Fayetteville Road for a distance of 293.27
feet to a 1” open top pipe; 
 THENCE South 76 degrees 13 minutes 18 seconds West for a distance of 47.39 feet to a 60-penny nail and
true point of beginning; 
 Said property contains 0.29 acres more or less. 
 TRACT 3 
 All that tract or
parcel of land situated and lying in Land Lots 24, 25 and 34 of the 9th Land District, Fulton County, Georgia, and being more particularly described
as follows: 
 Commencing at a concrete right-of-way monument at the intersection of the south line of Oakley Industrial Boulevard (variable
right-of-way) with the east line of Spence Road (S.R. 92) (variable right-of-way); thence along the south line of Oakley Industrial Boulevard the following calls: First, along a curve to the right having a radius of 1850.10 feet, a chord bearing and
distance of North 69 degrees 42 minutes 42 seconds East, 729.16 feet and an arc distance of 733.97 feet to a concrete right-of-way monument; thence North 81 degrees 04 minutes 59 seconds East, a distance of 251.07 feet to a concrete right-of-way
monument; thence along a curve to the left having a radius of 2925.17 feet, a chord bearing and distance of North 76 degrees 56 minutes 07 seconds East, 437.31 feet and an arc distance of 437.72 feet to a concrete right-of-way monument; thence North
72 degrees 16 minutes 11 seconds East, a distance of 579.73 feet to a concrete right-of-way monument; thence along a curve to the left having a radius of 2925.17 feet, a chord bearing and distance of North 67 degrees 40 minutes 19 seconds East,
498.46 feet and an arc distance of 499.06 feet to the POINT OF BEGINNING of the herein described tract of land; thence continuing along the south line of Oakley Industrial Boulevard with a curve to the left having a radius of 2925.17 feet, a chord
bearing and distance of North 59 degrees 29 minutes 27 seconds East, 336.12 feet 

 
and an arc distance of 336.30 feet to a point; thence South 09 degrees 42 minutes 26 seconds West, leaving Oakley Industrial Boulevard, a distance of 536.07
feet to a point; thence South 08 degrees 58 minutes 32 seconds East, a distance of 624.34 feet to a point; thence South 33 degrees 57 minutes 04 seconds East, a distance of 544.71 feet to a point; thence South 16 degrees 24 minutes 31 seconds East,
a distance of 378.99 feet to a point; thence South 68 degrees 39 minutes 43 seconds West, a distance of 438.04 feet to a point on the east line of a tract of land conveyed to PYA Monarch, Inc. as recorded in Deed Book 29373, page 582, Deed Records
of Fulton County, Georgia; thence along the east line of the PYA Monarch, Inc. Tract the following calls: First, North 40 degrees 59 minutes 35 seconds West, a distance of 18.26 feet to a 5/8 inch rebar; thence North 71 degrees 06 minutes 52 seconds
West, a distance of 304.79 feet to a 5/8 inch rebar; thence North 11 degrees 55 minutes 32 seconds West, a distance of 411.27 feet to a 5/8 inch rebar; thence North 31 degrees 57 minutes 30 seconds East, a distance of 204.98 feet to a 5/8 inch
rebar; thence North 39 degrees 53 minutes 08 seconds West, a distance of 278.97 feet to a sanitary sewer manhole; thence North 03 degrees 03 minutes 27 seconds West, a distance of 149.60 feet to a 5/8 inch rebar at the northeast corner of said PYA
Monarch, Inc. Tract; thence North 03 degrees 05 minutes 37 seconds West, leaving the PYA Monarch, Inc. Tract, a distance of 227.81 feet to a sanitary sewer manhole; thence North 19 degrees 05 minutes 24 seconds East, a distance of 350.15 feet to a
point; thence North 10 degrees 18 minutes 55 seconds East, a distance of 344.23 feet to the POINT OF BEGINNING and containing 20.85 acres of land, more or less. 

 EXHIBIT A—LAND 
 Legal Description 
 Parcel “I” 
 All that tract or parcel of land situated and lying in Land Lots 24, 25, 34, 35 and 36,
9th Land District, Fulton County, Georgia and being more particularly described as follows: 
 Beginning at a  1/2 inch rebar at the intersection of the south line of Oakley Industrial Boulevard (variable R/W) with the west line of the CSX Railroad (100’ R/W); thence, along the west line of the CSX
Railroad and with a curve to the right having a radius of 5309.24 feet, a chord bearing and distance of South 24 degrees 15 minutes 38 seconds East, 693.18 feet and an arc distance of 693.68 feet to a  1/2 inch rebar; thence, South 20 degrees 31 minutes 03 seconds East, continuing along the west line of the CSX Railroad, a distance of 553.23 feet to a point; thence, South
76 degrees 17 minutes 13 seconds West, leaving the CSX Railroad and along the north line of a tract of land conveyed to Ruby O. Thompson, as recorded in Deed Book 13140, page 238, Deed Records of Fulton County, Georgia, passing a 1 inch axle at a
distance of 0.20 feet and continuing for a total distance of 646.19 feet to a 3/8 inch rebar in concrete; thence, South 13 degrees 46 minutes 17 seconds East, along the west line of said Thompson tract, a distance of 290.79 feet to a 3/8 inch rebar
in concrete; thence, North 76 degrees 17 minutes 13 seconds East, along the south line of said Thompson tract, a distance of 680.59 feet to a  1/2 inch rebar on the west line of said CSX Railroad; thence, South 20 degrees 31 minutes 03 seconds East, along the west line of the CSX Railroad, a distance of 442.92 feet to a 2 inch pipe; thence, South 76 degrees 49
minutes 39 seconds West, leaving the CSX Railroad and along the north line of a tract of land conveyed to Gerald M. Cochran, a distance of 146.69 feet to a 1 inch pipe; thence, along the north line of a tract of land conveyed to Oakley Estates,
Inc., the following calls: first, South 76 degrees 46 minutes 08 seconds West, a distance of 543.87 feet to a 1 inch pipe; thence, North 66 degrees 20 minutes 13 seconds West, a distance of 370.17 feet to a 1 inch pipe; thence, South 76 degrees 58
minutes 28 seconds West, a distance of 291.19 feet to a 1 inch pipe; thence North 69 degrees 29 minutes 59 seconds West, a distance of 573.17 feet to a 1 inch pipe; thence South 01 degrees 11 minutes 44 seconds East, along the west line of said
Oakley Estates, Inc. tract, a distance of 980.19 feet to a 1 inch pipe; thence, South 88 degrees 23 minutes 36 seconds East, along the south line of said Oakley Estates, Inc. tract and the apparent south line of Land Lot 35, a distance of 737.84
feet to a point; thence, South 68 degrees 39 minutes 43 seconds West, a distance of 2250.48 feet to a point; thence, North 16 degrees 24 minutes 31 seconds West, a distance of 378.99 feet to a point; thence, North 33 degrees 57 minutes 04 seconds
West, a distance of 544.71 feet to a point; thence, North 08 degrees 58 minutes 32 seconds West, a distance of 624.34 feet to a point; thence, North 09 degrees 42 minutes 26 seconds East, a distance of 536.07 feet to a point on the south line of
said Oakley Industrial Boulevard; thence, along the south line of Oakley Industrial Boulevard the following calls: first, along a curve to the left having a radius of 2925.17 feet, a chord bearing and distance of North 51 degrees 55 minutes 24
seconds East, 436.00 feet and an arc distance of 436.40 feet to a concrete right-of-way monument; thence, North 47 degrees 38 minutes 42 seconds East, a distance of 479.45 feet to a concrete right-of-way monument; thence, along a curve to the right
having a radius of 2232.10 feet, a chord bearing and distance of North 58 degrees 28 minutes 53 seconds East, 849.46 feet and an arc distance of 854.69 feet to a concrete right-of-way monument; thence, North 69 degrees 26 minutes 09 seconds East, a
distance of 1527.41 feet to the Point of Beginning and containing 152.29 acres of land, more or less. 
 LESS AND EXCEPT
that tract or parcel of land described in Right of Way Deed dated January 9, 2004, by and between Adesa Atlanta, LLC and Fulton County recorded in Deed Book 37006, page 615. Said tract containing 2.6985 acres more or less. 

 LEGAL DESCRIPTION 
 Parcel “N” 
 All that tract or
parcel of land situated and lying in Land Lots 23, 24 and 25, 9th Land District, Fulton County, Georgia, and being more particularly described as
follows: 
 Beginning at a  1/
2 inch rebar at the intersection of the southerly line of Wood Road (variable R/W) with the west line of Lee’s Mill Road (apparent 50’ R/W); thence, South 02 degrees 21
minutes 28 seconds West, along the west line of Lee’s Mill Road, a distance of 75.17 feet to a  1/2 inch rebar; thence North
88 degrees 15 minutes 01 seconds West, leaving Lee’s Mill Road and along the north line of a tract of land conveyed to Sloan J. Dailey, as recorded in Deed Book 26514, page 269, Deed Records of Fulton County, Georgia, a distance of 414.86 feet
to a  1/2 inch rebar; thence, South 02 degrees 23 minutes 11 seconds West, along the west line of said Dailey tract, a distance
of 209.99 feet to a  1/2 inch rebar; thence, South 88 degrees 14 minutes, 56 seconds East, along the south line of said Dailey
tract, a distance of 414.89 feet to a  1/2 inch rebar on the west line of Lee’s Mill Road; thence, South 02 degrees 21
minutes 16 seconds West, along the west line of Lee’s Mill Road, a distance of 172.00 feet to a 1 inch flat iron; thence, leaving Lee’s Mill Road and along the south line of a tract of land conveyed to M.D. Hodges, Inc., as recorded in
Deed Book 10585, page 90, the following calls: first, North 88 degrees 15 minutes 00 seconds West, a distance of 849.03 feet to a 1 inch axle; thence, North 88 degrees 21 minutes 50 seconds West, a distance of 235.01 feet to a  1/2 inch rebar; thence, North 88 degrees 20 minutes 19 seconds West, a distance of 326.85 feet to a 1 inch pipe; thence, North 88
degrees 32 minutes 43 seconds West, a distance of 176.26 feet to a cross cut on a rock; thence, North 88 degrees 18 minutes 12 seconds West, a distance of 1157.73 feet to a  1/2 inch rebar; thence, North 88 degrees 24 minutes 55 seconds West, a distance of 237.39 feet to a 3/8 inch rebar at the southwest comer of said M.D. Hodges, Inc. tract; thence, North 04 degrees
21 minutes 53 seconds East, along the west line of said M.D. Hodges, Inc. tract, a distance of 706.83 feet to a 1 inch pipe; thence, North 86 degrees 49 minutes 02 seconds West, along the south line of a tract of land conveyed to M.D. Hodges
Enterprises, Inc., as recorded in Deed Book 9574, pages 472, Deed Records of Fulton County, Georgia, a distance of 192.12 feet to a 5/8 inch rebar; thence, North 86 degrees 47 minutes 41 seconds West, continuing along said south line, a distance of
133.55 feet to a 5/8 inch rebar at the southeast comer of a tract of land conveyed to PYA Monarch, Inc., as recorded in Deed Book 29373, page 582, Deed Records, Fulton County, Georgia; thence, along the east line of said PYA Monarch, Inc. tract the
following calls: First, North 42 degrees 15 minutes 01 seconds East, a distance of 365.10 feet to a 5/8 inch rebar; thence, North 12 degrees 14 minutes 26 seconds East, a distance of 131.32 feet to a sanitary sewer manhole; thence, North 40 degrees
59 minutes 35 seconds West, a distance of 1.90 feet to point; thence, North 68 degrees 39 minutes 43 seconds East, leaving said PYA Monarch, Inc. tract, a distance of 2688.52 feet to a point on the south line of a tract of land conveyed to Oakley
Estates, Inc., said point also being on the apparent north line of Land Lot 24; thence, South 88 degrees 23 minutes 36 seconds East, along the south line of said Oakley Estates, Inc. tract and said north line of Land Lot 24, a distance of 468.82
feet to a 1 inch pipe at the apparent northeast corner of Land Lot 24 and the northeast corner of said M.D. Hodges Enterprises, Inc. tract; thence, South 05 degrees 09 minutes 25 seconds West, along the east line of said M.D. Hodges Enterprises,
Inc. tract and the apparent east line of Land Lot 24, a distance of 563.70 feet to a  1/2 inch rebar on the north line of the
terminus of Wood Road as defined by said M.D. Hodges Enterprises. Inc. tract; thence, South 88 degrees 59 minutes 19 seconds West, along said north line of Wood Road, a distance of 29.93 feet to a  1/2 inch rebar; thence, South 05 degrees 14 minutes 05 seconds West, along the west line of Wood Road as defined by said M.D. Hodges Enterprises, Inc. tract, a distance of
169.12 feet to a 2 inch pipe at the northeast corner of a tract of land conveyed to Fife Baptist Church; thence, South 88 degrees 52 minutes 42 seconds West, leaving Wood Road and along the north line of the Fife Baptist Church tract, a distance of
253.70 feet to a 1 1/2 inch angle iron; thence, South 88 degrees 15 minutes 50 seconds West, continuing along the north line of
the Fife Baptist Church tract, a distance of 242.10 feet to a  1/2 inch rebar; thence, South 05 degrees 47 minutes 51 seconds
West, along the west line of the Fife Baptist Church tract, a distance of 340.70 feet to a 54 inch rebar; thence, South 81 degrees 27 minutes 16 seconds East, along the south line of the Fife Baptist Church tract, a distance of 250.78 feet to a
1 1/2 inch angle iron; thence, South 81 degrees 07 minutes 37 seconds East, continuing along the south line of the Fife Baptist
Church tract, a distance of 246.02 feet to a  1/2 inch pipe on the west line of Wood Road; thence, South 05 degrees 07 minutes 07
seconds West, 

 
along the west line of Wood Road, a distance of 77.59 feet to a  1/2 inch rebar at the northeast corner of a tract of land conveyed to Robert A. Wood; thence, North 88 degrees 23 minutes 30 seconds West, leaving Wood Road and along the north line of the Wood tract, a distance of
415.03 feet to a  1/2 inch rebar; thence. South 05 degrees 02 minutes 14 seconds West, along the west line of the Wood tract, a
distance of 227.89 feet to a  1/2 inch rebar; thence South 88 degrees 17 minutes 49 seconds East, along the south line of the Wood tract, a distance of 154.41 feet to a  1/2 inch rebar; thence, South 64 degrees 38 minutes 18 seconds East, continuing along the south line of the Wood tract, a distance of 53.89 feet to a 2 inch pipe; thence, South 64 degrees 32 minutes 53 seconds East,
continuing along the south line of the Wood tract, a distance of 222.67 feet to a 1 inch rebar on the west line of said Wood Road; thence, along the south line of Wood Road and with a curve to the left having a radius of 124.94 feet, a chord bearing
and distance of South 40 degrees 54 minutes 48 seconds East, 82.79 feet and an arc distance of 84.39 feet to a  1/2 inch rebar;
thence, South 60 degrees 05 minutes 17 seconds East, continuing along the south line of Wood Road, a distance of 167.04 feet to the Point of Beginning and containing 106.48 acres of land, more or less. 

 LEGAL DESCRIPTION 
 Tracts 1 and 2 
 All that tract or parcel of land lying and being in Land Lots 35 and 36 of Ninth
District of originally Fayette then Campbell now Fulton County, Georgia more fully described as follows: Commencing in the center of Fairburn and Fayetteville Highway at a point 250-1/2 feet southernly measured along said Highway from the North line
of land lots Nos. 35 and 36 run south 74 degrees, West 118 feet to center of Atlantic Coast Line Railroad, Thence continue Westerly on same course 698 feet to a corner, thence run South 16 degrees East 290 8/10 feet to a corner, thence run North 74
degrees East 731 feet to center of A.C.L. R.R. Thence continue Easterly in same course 158-1/2 feet to the center of Fairburn and Fayetteville Highway, Thence North 30 degrees and 45 minutes West along said highway 300 feet to point of beginning,
and containing 5 acres of land not including right of way of 100 feet wide belonging to Atlantic Coast Line Rail Road. This 5 acre tract of land is a part of the Tom Garden place and was deeded by Grady Carden and Mrs. Emmie Carden Findlay to
John Low Smith, and from John Low Smith to Lois Oakley. 
 MORE RECENTLY DESCRIBED IN A SURVEY BY INTEGRATED SCIENCE AND ENGINEERING DATED
JUNE 11, 2002, AS FOLLOWS: 
 TRACT 1 
 All that tract or parcel of land lying and being in Land Lots 35 and 36 of the 9th District, Fulton County, Georgia, and being more particularly described as follows: 
 To reach the true point of beginning, commence at a 1” open top pipe at the common land lot corner of land lots 35, 36, 23 and 24; 
 THENCE North 00 degrees 08 minutes 19 seconds West along the western land lot line of land lot 36 for a distance of 1192.30 feet to a point where the
South property line of tract 2 intersects the common land lot line of land lots 35 and 36; 
 THENCE North 76 degrees 17 minutes 31 seconds East along the South property line of tract 2 for a distance of 466.69 feet to a  1/2, rebar found at the west right of way of a CSX railroad (100’ R/W) and true point of beginning; 
 THENCE South 76 degrees 17 minutes 31 seconds West for a distance of 681.04 feet to a 3/8” rebar found; 
 THENCE North 13
degrees 46 minutes 35 seconds West for a distance of 290.84 feet to a 3/8” rebar found; 
 THENCE North 76 degrees 17 minutes 13 seconds
East for a distance of 646.02 feet to the western right of way of a 100’ CSX Railroad right of way and an axle found; 
 THENCE South 20 degrees 38 minutes 22 seconds East along the western right of way of a 100 foot
CSX right of way for a distance of 293.04 feet to a  1/2” rebar found and the true point of beginning; 
 Said property contains 4.43 acres more or less. 
 Total area tract 1 and tract 2 = 4.72 acres more or less. 

 TRACT 2 
 All that tract or parcel of land lying and being in Land Lot 36 of the 9th District, Fulton County, Georgia, and being more particularly described as follows: 
 To reach the true point of beginning, commence at a 1” open top pipe at the common land lot corner of land lots 35, 36, 23, and 24; 
 THENCE North 00 degrees 08 minutes 19 seconds West along the western land lot line of land lot 36 for a distance of 1192.30 feet to a point where the
South property line of tract 2 intersects the common land lot of land lots 35 and 36; 
 THENCE North 76 degrees 17 minutes 31 seconds East along the South property line of tract 2 for a distance of 486.69 feet to a  1/2” rebar at the west right of way of a CSX railroad (100’) R/W); 
 THENCE across the
right of way of the CSX railroad North 75 degrees 32 minutes 19 seconds East for a distance of 100.35 feet to a 60-penny nail on the east right of way of the 100' wide CSX railroad and true point of beginning; 
 THENCE North 20 degrees 30 minutes 14 seconds West along the right of way of the CSX Railroad
(100’ R/W) for a distance of 291.99 feet to a  1/2” rebar found; 
 THENCE North 76 degrees 07 minutes 03 seconds East for a distance of 38.28 feet to the right of way of Fayetteville Road (100’ R/W) and a 1”
open top pipe; 
 THENCE South 22 degrees 16 minutes 14 seconds East along the right of way of Fayetteville Road for a distance of 293.27
feet to a 1” open top pipe; 
 THENCE South 76 degrees 13 minutes 18 seconds West for a distance of 47.39 feet to a 60-penny nail and
true point of beginning; 
 Said property contains 0.29 acres more or less. 
 TRACT 3 
 All that tract or
parcel of land situated and lying in Land Lots 24. 25 and 34 of the 9th Land District, Fulton County, Georgia, and being more particularly described
as follows: 
 Commencing at a concrete right-of-way monument at the intersection of the south line of Oakley Industrial Boulevard (variable
right-of-way) with the east line of Spence Road (S.R. 92) (variable right-of-way); thence along the south line of Oakley Industrial Boulevard the following calls: First, along a curve to the right having a radius of 1850.10 feet, a chord bearing and
distance of North 69 degrees 42 minutes 42 seconds East, 729.16 feet and an arc distance of 733.97 feet to a concrete right-of-way monument; thence North 81 degrees 04 minutes 59 seconds East, a distance of 251.07 feet to a concrete right-of-way
monument; thence along a curve to the left having a radius of 2925.17 feet, a chord bearing and distance of North 76 degrees 56 minutes 07 seconds East, 437.31 feet and an arc distance of 437.72 feet to a concrete right-of-way monument; thence North
72 degrees 16 minutes 11 seconds East, a distance of 579.73 feet to a concrete right-of-way monument; thence along a curve to the left having a radius of 2925.17 feet, a chord bearing and distance of North 67 degrees 40 minutes 19 seconds East,
498.46 feet and an arc distance of 499,06 feet to the POINT OF BEGINNING of the herein described tract of land; thence continuing along the south line of Oakley Industrial Boulevard with a curve to the left having a radius of 2925.17 feet, a chord
bearing and distance of North 59 degrees 29 minutes 27 seconds East, 336.12 feet 

 
and an arc distance of 336.30 feet to a point; thence South 09 degrees 42 minutes 26 seconds West, leaving Oakley Industrial Boulevard, a distance of 536.07
feet to a point; thence South 08 degrees 58 minutes 32 seconds East, a distance of 624.34 feet to a point; thence South 33 degrees 57 minutes 04 seconds East, a distance of 544.71 feet to a point; thence South 16 degrees 24 minutes 31 seconds East,
a distance of 378,99 feet to a point; thence South 68 degrees 39 minutes 43 seconds West, a distance of 438.04 feet to a point on the east line of a tract of land conveyed to PYA Monarch, Inc. as recorded in Deed Book 29373, page 582, Deed Records
of Fulton County, Georgia; thence along the east line of the PYA Monarch, Inc. Tract the following calls: First, North 40 degrees 59 minutes 35 seconds West, a distance of 18.26 feet to a 5/8 inch rebar; thence North 71 degrees 06 minutes 52 seconds
West, a distance of 304.79 feet to a 5/8 inch rebar; thence North 11 degrees 55 minutes 32 seconds West, a distance of 411.27 feet to a 5/8 inch rebar; thence North 31 degrees 57 minutes 30 seconds East, a distance of 204.98 feet to a 5/8 inch
rebar; thence North 39 degrees 53 minutes 08 seconds West, a distance of 278.97 feet to a sanitary sewer manhole; thence North 03 degrees 03 minutes 27 seconds West, a distance of 149.60 feet to a 5/8 inch rebar at the northeast corner of said PYA
Monarch, Inc. Tract; thence North 03 degrees 05 minutes 37 seconds West, leaving the PYA Monarch, Inc. Tract, a distance of 227.81 feet to a sanitary sewer manhole; thence North 19 degrees 05 minutes 24 seconds East, a distance of 350.15 feet to a
point; thence North 10 degrees 18 minutes 55 seconds East, a distance of 344.23 feet to the POINT OF BEGINNING and containing 20.85 acres of land, more or less. 

 EXHIBIT B 
 PREMISES 
 TENANT OPERATIONS INQUIRY FORM 
  

	1.	Name
                                         
                                         
                                         
                                  of 

	 	Company/Contact                                     
                                         
                                         
                       

  

	2.	Address/Phone                                     
                                         
                                         
                       

	

	

  

	3.	Provide a brief description of your business and operations:
                                         
                                

  

							
	 	 	 	 	 	 	 
				
	 	 	 	 	 	 	 
				
	 	 		 		 	
				
	 	 	 	 	 	 	 
				
	 	 	 	 	 	 	 
				
	 	 	 	 	 	 	 
				
	 	 	 	 		 	

  

	4.	Will you be required to make filings and notices or obtain permits as required by Federal and/or State regulations for the operations at the proposed facility? Specifically:

  
  

					
	 a. SARA Title III Section 312 (Tier II) reports
	  	YES	  	NO
			
	 (> 10,000lbs. of hazardous materials STORED at any one time)
	  		  	
			
	 b. SARA Title III Section 313 (Tier III) Form R reports
	  	YES	  	NO
			
	 (> 10,000lbs. of hazardous materials USED per year)
	  		  	
			
	 c. NPDES or SPDES Stormwater Discharge permit
	  	YES	  	NO
			
	 (answer “No” if “No-Exposure Certification” filed)
	  		  	
			
	 d. EPA Hazardous Waste Generator ID Number
	  	YES	  	NO

 5. Provide a list of chemicals and wastes that will be used and/or generated at the proposed location.
Routine office and cleaning supplies are not included. Make additional copies if required. 
  

					
	 Chemical/Waste
	  	Approximate Annual
Quantity Used or
Generated	  	Storage Container(s)
(i.e. Drums, Cartons, Totes,
Bags,
ASTs, USTs, etc)
		  		  	
		  		  	
		  		  	

  

 B-1 

 EXHIBIT C 
 BROOM CLEAN CONDITION AND REPAIR REQUIREMENTS 
  

	•	 	 All lighting is to be placed into good working order. This includes replacement of bulbs and ballasts, as needed. 

  

	•	 	 All truck doors and dock levelers should be in good operating order (including, but not limited to, overhead door springs, rollers, tracks and motorized door
operator). 

  

	•	 	 All structural steel columns in the warehouse and office should be inspected for damage, and must be repaired. Repairs of this nature shall be pre-approved by the
Landlord prior to implementation. 

  

	•	 	 HVAC system shall be in good working order. Working order shall include, but is not limited to, filters, thermostats, warehouse heaters and exhaust fans. Upon
move-out, Landlord will have an exit inspection performed by a certified mechanical contractor mutually and reasonably agreeable to both parties to determine the condition of the HVAC systems. 

  

	•	 	 All holes over 1/4” in diameter in the office space and in the sheet rock walls shall be repaired prior to move-out. 

  

	•	 	 Flooring shall be free of excessive dust, dirt, grease, oil and stains. Cracks in concrete and asphalt shall be acceptable as long as they are ordinary wear and
tear, and are not the result of misuse. 

  

	•	 	 Facilities shall be returned in a broom clean condition, including, but not limited to, the cleaning of the coffee bar, restroom areas, windows, and other portions
of the Premises. 

  

	•	 	 There shall be no protrusion of anchors from the warehouse floor and all holes shall be appropriately patched. If machinery/equipment is removed, the electrical
lines shall be properly terminated at the nearest junction box. 

  

	•	 	 All exterior windows with cracks or breakage shall be replaced. 

  

	•	 	 Tenant shall provide keys for all locks on the Premises, including front doors, rear doors, and interior doors. 

  

	•	 	 All mechanical and electrical systems shall be left in a safe condition that conforms to all codes applicable to Tenant and the Premises as of the termination of
the Lease. Bare wires shall be clipped to the nearest junction box and dangerous installations shall be corrected to Landlord’s reasonable satisfaction. 

  

	•	 	 All plumbing fixtures shall be in good working order, including, but not limited to, the water heater. 

  

	•	 	 All dock bumpers shall be left in place and well-secured. 

  

	•	 	 No ceiling tiles may be missing or materially damaged. 

  

	•	 	 All trash shall be removed from both inside and outside of the Improvements. 

  

	•	 	 All signs in front of the Improvements and on glass entry door and rear door shall be removed. 

  

	•	 	 All roof penetrations shall be repaired and sealed. 

  

 C-1 

 EXHIBIT D 
 OTHER LEASES 
  

	1.	Ground Lease Agreement by and between First Industrial Pennsylvania, L.P., as landlord, and ADESA California, LLC and ADESA San Diego, LLC, collectively, as tenant, dated of even
date herewith for premises located at 849 Kiefer Boulevard, Sacramento, California. 

  

	2.	Ground Lease Agreement by and between First Industrial, L.P., as landlord, and ADESA California, LLC, as tenant, dated of even date herewith for premises located at 2175 Cactus
Road, San Diego, California. 

  

	3.	Ground Lease Agreement by and between First Industrial, L.P., as landlord, and ADESA San Diego, LLC, as tenant, dated of even date herewith for premises located at 2175 Cactus Road,
San Diego, California. 

  

	4.	Ground Lease Agreement by and between First Industrial, L.P., as landlord, and ADESA California, LLC, as tenant, dated of even date herewith for premises located at 11625 Nino Way,
Mira Loma, California. 

  

	 5.
	 Ground Lease Agreement by and between First Industrial Financing Partnership, L.P., as landlord, and ADESA Florida, LLC,
as tenant, dated of even date herewith for premises located at 6005 24th Street East, Bradenton, Florida. 

  

	6.	Ground Lease Agreement by and between First Industrial, L.P., as landlord, and ADESA Texas, Inc., as tenant, dated of even date herewith for premises located at 4526 N. Sam Houston
Parkway, Houston, Texas. 

  

	 7.
	 Ground Lease Agreement by and between and First Industrial, L.P., as landlord, and ADESA Washington, LLC, as tenant,
dated of even date herewith for premises located at 621 37th Street NW, Auburn, Washington. 

  

	8.	Ground Lease Agreement by and between First Industrial Pennsylvania, L.P., as landlord, and ADESA California, LLC, as tenant, dated of even date herewith, for premises located at
18501 W. Stanford Road, Tracy, California. 

  

 D-1 

 EXHIBIT E 
 Intentionally Omitted 
  

 E-1 

 EXHIBIT F 
 Intentionally Omitted 
  

 F-1 

 EXHIBIT G 
 STATE OF GEORGIA 
 COUNTY OF FULTON 
 After recording, please return to: 
 Jill J. Littlejohn 
 Barack Ferrazzano Kirschbaum & Nagelberg LLP 
 200 West Madison Street, Suite 3900 
 Chicago, Illinois 60606 
 MEMORANDUM OF SUBLEASE

 THIS MEMORANDUM OF SUBLEASE (this “Memorandum”) is entered into as of
            , 2008, by and between FIRST INDUSTRIAL, L.P., a Delaware limited partnership (“Landlord”) and ADESA ATLANTA, LLC, a New Jersey limited liability
company, (“Tenant”). 
  

	 	1.	Landlord and Tenant have entered into that certain Ground Sublease dated             , 2008 (the
“Lease”) by which Landlord has leased to Tenant that certain tract or parcel of real property, located in Fulton County, Georgia, and being more particularly described on Exhibit A attached hereto
and made a part hereof for all purposes (the “Premises”). 

  

	 	2.	Capitalized terms used but not defined herein shall have the meanings attributed to same in the Lease. 

  

	 	3.	The Lease is for a term of twenty (20) years, commencing             , 2008. The Lease contains two (2) options
to renew and extend the term for ten (10) years each. 

  

	 	4.	This Memorandum shall inure to the benefit of and be binding upon Landlord and Tenant and their respective successors and permitted assigns; provided, however, that this Memorandum
is solely for public notice and recording purposes and shall not be construed to alter, modify, limit, expand, diminish or supplement any of the terms or provisions of the Lease or any of the rights granted to or covenants made by Landlord or Tenant
under the Lease. In the event of any conflict between the terms and provisions of this Memorandum and the terms and provisions of the Lease, the terms and provisions of the Lease shall prevail. 

 [Remainder of page intentionally left blank. Signature page(s) on the following pages.] 
  

 G-1 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Memorandum of Sublease as of
            , 2008. 
  

									
	Signed, Sealed and delivered in the Presence of:	 		 	LANDLORD:
			
		 		 	FIRST INDUSTRIAL, L.P., a Delaware limited liability company
			
	 	 		 	By: First Industrial Realty Trust, Inc., a Maryland corporation, its sole general partner
	Unofficial Witness	 		 
				
		 		 	By: 	 	 
		 		 	Name: 	 	 
		 		 	Title:	 	 
				
	 	 		 	By: 	 	 
	Notary Public	 		 	Name: 	 	 
		 		 	Title:	 	 
	My Commission Expires:	 		 		 	
				
	 	 		 		 	(CORPORATE SEAL)
	Notary Seal:	 		 		 	
				
	Signed, Sealed and delivered in the Presence of:	 		 		 	
				
	 	 		 		 	
	Unofficial Witness	 		 		 	
				
	 	 		 		 	
	Notary Public	 		 		 	
				
	My Commission Expires:	 		 		 	
				
	 	 		 		 	
	Notary Seal:	 		 		 	

  

 G-2 

									
	Signed, Sealed and delivered in the Presence of:	 		 	TENANT:
			
		 		 	ADESA ATLANTA, LLC, a New Jersey limited liability company
				
	 	 		 	By: 	 	 
	Unofficial Witness	 		 		 	James P. Hallett, a manager
				
	 	 		 	By: 	 	 
	Notary Public	 		 		 	Paul J. Lips, a manager
		 		 		 	
	My Commission Expires:	 		 		 	
				
	 	 		 		 	(CORPORATE SEAL)
	Notary Seal:	 		 		 	
				
	Signed, Sealed and delivered in the Presence of:	 		 		 	
				
	 	 		 		 	
	Unofficial Witness	 		 		 	
				
	 	 		 		 	
	Notary Public	 		 		 	
				
	My Commission Expires:	 		 		 	
				
	 	 		 		 	
	Notary Seal:	 		 		 	

  

 G-3 

 EXHIBIT H 
 SCHEDULE OF REQUIRED INSURANCE 
 Exhibit H - Schedule of Applicable Insurance Coverages 
 As of August 2008 
  

										
	 Policy
	 	 Insurance Carrier
	 	 Current Policy
Term
	 	 Coverage
	 	Deductible
(All USD)
	 Workers’ Comp (AOS) - incl. Em. Liab
	 	 Liberty Mutual
	 	 1/1/08-09
	 	 Statutory Limits;
	 	$	500,000
	 Garage Liability (Includes Garage Liability, GKLL, General Liability, Auto Physical Damage, Auto Liability)
	 		 		 		 		
	 Garage - US All States
	 	Liberty Mutual	 	1/1/08-09	 	$1M - GKLL; $2M AGG - AL/GL	 	$	500,000
	 Excess Liability
	 		 		 		 		
	 legal liability, tail coverage
	 	Zurich - Lead	 	1/1/08-1/1/09	 	$25M	 	$	1,000,000
	 Underground Storage Tanks
	 	Zurich	 	8/13/08-8/13/09	 	$1M PER / $2M AGGREGATE	 	$	10,000
	 ALL - Risk Property
	 	LEXINGTON	 	3/1/08 - 3/1/09	 	$100M	 	$	100,000
	 Includes:
	 		 		 		 		
	 All Risk Policy with sublimits for accounts receivable automatic coverage, newly acquired, civil & military authority, decontamination
expense, Earth Movement, E&O, Fine Arts Leasehold interest, service interruption, transit, valuable papers (See Policy Summary) 
	 		 		 		 		
	 Flood - Non High Hazard
	 	LEXINGTON	 	3/1/08 - 3/1/09	 	$50M	 	$	100k
	 Flood - High Hazard
	 	LEXINGTON	 	3/1/08 - 3/1/09	 	$2.5M	 	$	1M
	 Property - CA Earthquake
	 	LEXINGTON	 	3/1/08 - 3/1/09	 	$5M	 	 
 
 
 
 	5% of
TIV/BI
subject to
$100k
minimum
	 Includes:
	 	Axis	 	3/1/08 - 3/1/09	 	$15M	 	$	—  
	 Excess Earthquake coverage to CA locations
	 		 		 		 		
	 Environmental
	 	ADESA - Zurich	 	9/20/04 - 9/20/09	 	$5M PER / $10M AGGREGATE	 	$	250,000
		 	IAAI - IRG	 	5/26/2005 - /2010	 		 	$	250,000

 EXHIBIT I 
 FORM OF QUIT CLAIM DEED 
  

			
	 This instrument prepared by:
 Jill J. Littlejohn
 Barack Ferrazzano Kirscbaum & Perlman LLP
 200 West Madison, Suite 3900
 Chicago, IL 60606
	 	 After recording return to:
 Jill J. Littlejohn
 Barack Ferrazzano Kirscbaum & Perlman LLP
 200 West Madison, Suite 3900
 Chicago, IL 60606

		
	 Property appraisers parcel identification
	 	

 QUITCLAIM DEED 
 This quitclaim deed, made the          day of
                    , 2008, by ADESA ATLANTA, LLC, a New Jersey limited liability company, whose post office address is 13085 Hamilton
Crossing Blvd., Suite 500, Carmel, Indiana 46032, hereinafter called the Grantor, to FIRST INDUSTRIAL, L.P., a Delaware limited partnership, whose post office address is 311 South Wacker Drive, Suite 4000, Chicago, Illinois 60606, hereinafter
called the Grantee. 
 The Grantor, for and in consideration of the sum of Ten and no/100 Dollars ($10.00) and other valuable considerations,
receipt which of is hereby acknowledged, hereby grants and conveys unto the Grantee without warranty, all of the Grantor’s right, title and interest, if any, in that certain land, situated in Fulton County, State of Georgia, viz: 
 See Exhibit A attached hereto and incorporated herein by reference. 
 Together with all buildings and other improvements situated thereon or attached thereto and all tenements, hereditaments, improvements, appurtenances,
rights, easements, licenses, benefits and rights-of-way appurtenant thereto. 
 This deed is executed and delivered by the Grantor on a
quitclaim basis and with no warranty of any kind or nature. 
 [SIGNATURE PAGE TO FOLLOW] 

 In witness whereof, the said Grantor has signed and sealed these presents the day and year first above
written. 
  

			
	GRANTOR:
	
	ADESA ATLANTA, LLC, a New Jersey limited liability company
		
	By: 	 	 
		 	Paul J. Lips, a manager
	
	Post Office Address:
	13085 Hamilton Crossing Blvd., Suite 500
	Carmel, Indiana 46032

  

							
	STATE OF                                     
    	 	)	  		  	
		 	) SS	  		  	
	COUNTY OF                                     
	 	)	  		  	

 The foregoing instrument was acknowledged before me this
         day of                     , 2008, by
                                        ,
the
                                        
of                                 , on behalf of the
                                . (He)(She) is personally known to me. 

 

			
	 
	Notary Public

			
		
	Name:	 	 

			
		
	My Commission Expires:	 	 
	
	 [Seal]

 EXHIBIT J 
 FORM OF QUIT CLAIM BILL OF SALE 
 QUITCLAIM 
 BILL OF SALE 
 FOR VALUE
RECEIVED, ADESA ATLANTA, LLC a New Jersey limited liability company (“Seller”), hereby quitclaims unto FIRST INDUSTRIAL, L.P., a Delaware limited partnership (“Purchaser”), all of Seller’s right, title and
interest, if any, in and to all improvements located on that certain real estate legally described on Exhibit A attached hereto and incorporated herein by reference (the “Land”), including, but not limited to, those
certain buildings constructed on the Land and any other structures, systems, and utilities and fixtures affixed thereto (the “Property”). The Property is quitclaimed by Seller to Purchaser on an “AS IS,” “WHERE
IS,” “WITH ALL FAULTS” basis, and without any warranties, representations or guarantees, either express or implied, of any kind, nature, or type whatsoever, including, but not limited to, any warranty as to the fitness for a
particular purpose or merchantability of the Property. 
 IN WITNESS WHEREOF, Seller has executed this Bill of Sale as of
                    . 2008. 
  

			
	SELLER:
	
	ADESA ATLANTA, LLC, a New Jersey limited liability company
		
	By: 	 	 
		 	Paul J. Lips, a manager
	
	Post Office Address:
	13085 Hamilton Crossing Blvd., Suite 500
	Carmel, Indiana 46032

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