Document:

exv10w33

Exhibit 10.33

LEASE

OF

PREMISES

350 MERRIMACK STREET

LAWRENCE, MA

FROM

350 RIVERWALK, LLC

TO

NxStage Medical, Inc.

 

			
	[**] 	 	 The bracketed asterisk denotes that confidential portions of this exhibit have been
omitted in reliance on Rule 24b-2 of the Securities Exchange Act of 1934. The confidential portions
have been submitted separately to the Securities and Exchange Commission.

 

 

LEASE

	1.	 	PARTIES

	 	 	350 Riverwalk, LLC, a Massachusetts limited liability company (“Landlord”, which expression
shall include its successors, administrators and assigns where the context so permits),
having an address at 354 Merrimack Street, Lawrence, Massachusetts 01843 does hereby lease
to NxStage Medical, Inc., a Delaware corporation registered as a foreign corporation in
Massachusetts, (“Tenant”, which expression shall include its successors, administrators and
assigns where the context so permits), having an address at 439 S. Union Street,
5th Floor, Lawrence, MA 01843 and Tenant hereby leases the following described
Premises pursuant to the terms of this Lease.

	2.	 	BUILDING AND PREMISES

	 	 	The parties have agreed that the building known as 350 Merrimack Street, Lawrence, MA
(“Building”) contains 137,200 rentable square feet on seven (7) floors (inclusive of all
common areas including without limitation the lobby, elevator area and interconnecting
bridge area to be constructed as provided in this Lease), which Building is shown on the
plan attached hereto as Exhibit A. The terms and provisions of this Lease require Tenant to
occupy the Building in stages in accordance with Exhibit B attached hereto (the “Take-Down
Schedule”) and the term “Premises” as used in this Lease shall mean the portion of the
Building then being occupied by Tenant based on the Take-Down Schedule. Base Rent,
Additional Rent, Pro-Rata Share and all RSF references contained in this Lease shall be
adjusted to reflect the increase in the portion of the Premises so occupied by Tenant from
time to time as provided on the Take-Down Schedule. The rentable square feet of the
Premises and the Building, as the case may be, is referred to as “RSF.”

	3.	 	TERM

	 	 	The Term of this Lease shall commence on the date the Tenant Improvements (as hereafter
defined) are substantially completed by Landlord (and Tenant with respect to Tenant’s Work)
and all approvals necessary for the occupancy of the first part of the Premises to be so
occupied have been issued by the appropriate local authorities and Landlord agrees that in
no event shall the occupancy by Tenant of the first part of the Premises (as set forth on
Exhibit B) be later than June 1, 2012 (“Term Commencement Date”), and shall continue
thereafter through 11:59 p.m. on that date which is eleven (11) years after the Rent
Commencement Date (the “Term”). For purposes of this Lease, “substantially completed” shall
mean in the professional opinion of the Landlord’s architect that all Tenant Improvements
have been completed in accordance with the Final Plans and Specs with the exception of
immaterial punchlist items that can be completed within thirty (30) days after the Term
Commencement Date. When Landlord’s architect considers the Tenant Improvements to be
substantially completed, Landlord will notify Tenant and within five (5) business days
thereafter, a representative of the Landlord and a representative of the Tenant shall
conduct a walk-through of the Premises and the Building to confirm that the Tenant
Improvements are substantially completed and to identify any necessary touch-up work,
repairs and minor completion items that are

-2-

 

	 	 	necessary for final completion of the Tenant Improvements. Neither Landlord’s
representative nor Tenant’s representative shall unreasonably withhold his or her agreement
on the substantial completion of the Tenant’s Improvements or on immaterial punchlist items.
Landlord shall use reasonable efforts to cause the contractor constructing the Tenant
Improvements to complete all punchlist items within thirty (30) days after agreement on
substantial completion of the Tenant Improvements and the punchlist.

	4.	 	RENT AND RELATED MATTERS

	 	 	As used herein, the term “rent” or “Rent” shall mean Base Rent and Additional Rent. Rent
shall be paid as provided herein without deduction, offset or setoff whatsoever except as
otherwise provided in this Lease.

	 	 	Tenant shall pay to Landlord Base Rent during the Term at the following rates, payable in
advance on the first day of each month (pro-rata for any partial month) commencing on the
Rent Commencement Date in monthly installments as herein set forth:

	 	 	 	 	 	 	 	 	 
		 	Annual Rate for Base Rent	 	 
	 	 	On A Per Rentable Square	 	 
	Lease Year 	 	Foot Basis	 	Premises
	1-2
	 	$	14.50	 	 	89,046 RSF
	3
	 	$	14.50	 	 	104,820 RSF
	4-5
	 	$	14.50	 	 	117,570 RSF
	6-11
	 	$	14.50	 	 	137,200 RSF

	 	 	As used in this Lease, the term “Lease Year” shall mean the following: the first Lease Year
shall commence on the Rent Commencement Date and shall end on the last day of the calendar
month in which the anniversary of the Rent Commencement Date occurs; the second Lease Year
shall commence on the day after the end of the first Lease Year and continue for a
consecutive twelve month period; and each Lease Year thereafter shall be a sequential,
consecutive twelve (12) month period. The “Rent Commencement Date” shall be the later of
(a) June 1, 2012, or (b) the last date that the Premises have been substantially completed
and all approvals necessary for the occupancy by Tenant of the first part of the Premises to
be so occupied have been issued by the appropriate local authorities.

	 	 	Tenant’s pro-rata share (“Pro-Rata Share”) for the purposes of this Lease from time to time
shall be the RSF of the Premises then occupied by Tenant (as set forth above) divided by one
hundred percent (100%) of the RSF of the Building (137,200 RSF).

	 	 	During the Term of this Lease and from and after the Rent Commencement Date, Tenant shall
pay, without deduction, offset or setoff whatsoever, except as otherwise provided in

-3-

 

	 	 	this Lease, as Additional Rent (“Additional Rent”), in addition to Base Rent, (i) Tenant’s
Pro-Rata Share of increases in real estate taxes levied against the Building above the real
estate taxes (as hereinafter defined) assessed against the Building for fiscal year 2013
(i.e. July 1, 2012 to June 30, 2013) (“Tax Base Period”); (ii) subject to Exhibit C,
Tenant’s Pro-Rata Share of increases in Operating Expenses (as hereinafter defined) above
those incurred by Landlord for calendar year 2012 (“Operating Expenses Base Year”); and
(iii) all other amounts due from Tenant to Landlord under this Lease which are not disputed
in good faith by Tenant. In addition to the foregoing, Tenant shall directly and timely pay
all taxes, assessments and impositions for Tenant’s furniture, fixtures, equipment and
specific business operating at the Premises.

	 	 	The definition of all “real estate taxes” assessed against the Building includes all taxes,
assessments, betterments, water or sewer entrance fees and charges, or any other charges
that appear either on a real estate tax bill or Municipal Lien Certificate issued by the
City of Lawrence upon or against the Building but not including fees or penalties for late
payment or otherwise (and excluding any Building additions after the Term Commencement
Date). This definition of real estate taxes is based upon the present system of
real estate taxation in the Commonwealth of Massachusetts; if taxes upon rentals or any
other basis shall be substituted, in whole or in part, for the present ad valorem real
estate taxes, the term real estate taxes shall be deemed changed to the extent to which
there is such a substitution for the present ad valorem real estate taxes. There shall be
excluded from the definition of real estate taxes all income, estate, succession,
inheritance and transfer taxes imposed on Landlord with respect to the Building or the
Premises. The term “fiscal year” shall mean July 1st through June 30th next following, or
such other tax period as may be established by law for the payment of real estate taxes.
Real estate taxes will be assessed in accordance with a Tax Increment Financing Agreement
(the “TIF Agreement”) dated December 13, 2008 so long as the TIF Agreement remains in
effect. Landlord agrees to comply, and shall cause the other related parties thereto to
comply, with the TIF Agreement such that a decertification of the Building does not occur
pursuant to the TIF Agreement. Tenant shall receive the benefit of any early payment
discounts.

	 	 	Operating Expenses are defined in accordance with Exhibit C attached hereto and have been
estimated for the Operating Expenses Base Year to be $3.06 RSF in accordance with said
Exhibit C.

	 	 	When Landlord estimates that real estate taxes will exceed the Tax Base Period and/or the
Operating Expenses will exceed the Operating Expenses Base Year, Tenant shall pay with each
monthly payment of Base Rent, one-twelfth (1/12) of its Pro-Rata Share of the estimated
annual Additional Rent for real estate taxes above the Tax Base Period and/or Operating
Expenses above the Operating Expenses Base Year as reasonably determined by Landlord.
Following the end of each calendar year during the Term of this Lease with respect to
Operating Expenses after final expenses are determined, and with respect to real estate
taxes following the issuance of periodic or final real estate tax bills for a fiscal year,
Landlord shall determine the actual Operating Expenses for such calendar year and

-4-

 

	 	 	actual real estate taxes for such periodic period or fiscal year, and Tenant’s Pro-Rata
Share thereof. After a final determination by Landlord of Operating Expenses and/or if real
estate taxes were estimated, after a final tax bill for a fiscal year is ascertained, any
payment shortage shall be due and payable by Tenant within 30 days of written notice to
Tenant from Landlord and, to the extent Tenant is not in default nor would be in default but
for the giving of notice, the passage of time or both, any excess payment shall, at the
option of Tenant, be credited against future Additional Rent obligations next coming due
hereunder, or refunded to Tenant within thirty (30) days of Tenant’s request.

	 	 	If, after Tenant shall have made any payment under this Section, Landlord shall receive a
refund of any portion of the real estate taxes paid on account of any fiscal year in which
such payments shall have been made as a result of an abatement of such real estate taxes, by
final determination of legal proceedings, settlement or otherwise (“Proceedings”), Landlord
shall, to the extent Tenant is not in default nor would be in default but for the giving of
notice, the passage of time or both, within thirty (30) days after receiving the refund, pay
to Tenant the Tenant’s Pro-Rata Share of the refund, if any, which shall be adjusted if
Tenant’s original payment covered a shorter period than covered by the refund, less the
expense (including, but not limited to, attorneys’ fees, costs and appraisers’ fees)
allocable to Tenant’s Pro-Rata Share and incurred by Landlord in connection with any such
Proceedings. Landlord shall have sole control of all Proceedings.

	 	 	Within sixty (60) days after the close of each calendar year during the Term, Landlord shall
prepare and deliver to Tenant, a statement of real estate taxes and Operating Expenses for
the prior calendar year (in line item detail) prepared in accordance with generally accepted
accounting principles and certified to be true, accurate and complete by Landlord’s chief
financial officer (the “Statement”). Within one hundred twenty (120) days after Tenant’s
receipt of the Statement, Tenant or its representatives shall have the right to audit the
calculations of real estate taxes and Operating Expenses of the Landlord at Tenant’s sole
cost and expense. Landlord shall refund to Tenant any sums determined to be an overpayment
of real estate taxes and/or Operating Expenses by Tenant. In the event any overpayment is
determined to be greater than three percent (3%) of the real estate taxes and Operating
Expenses due from Tenant for such calendar year, Landlord shall also reimburse Tenant for
the reasonable costs of the audit.

	 	 	If Tenant shall fail to timely pay any installment of Base Rent or Additional Rent not
disputed by Tenant in good faith or subject to setoff pursuant to the terms of this Lease
within five (5) days after such payment is due, Landlord shall be entitled to collect a
charge equal to five (5%) percent of the amount due to cover Landlord’s administrative
expense in handling late payments. In addition, Tenant shall pay interest at the rate of
one percent (1%) per month (the “Default Rate”) or any fraction thereof on any Base Rent or
Additional Rent not paid within ten (10) days after the date due. Notwithstanding the
foregoing, the first time in each Lease Year the Landlord determines to charge such late
charge and/or interest, it shall so notify the Tenant and such late charge and/or

-5-

 

	 	 	interest shall be deemed waived, provided that the Tenant makes such payment within seven
(7) days after the receipt of such notice.

	5.	 	UTILITIES AND SERVICES.

	 	 	Tenant shall timely pay when due directly to the applicable electric utility company and
service provider all charges for electricity, telephone, internet and other communication
services and shall have such services in its name; provided, however, to the extent that
electricity is submetered or check metered to the Premises, Tenant shall pay the costs of
electricity directly to Landlord thirty (30) days after billing without Landlord mark-up.

	 	 	Landlord shall have no obligation to provide utilities other than the utilities within the
Premises as of the Term Commencement Date and which are listed on Exhibit D attached hereto
(the “Term Commencement Date Utilities”). In the event Tenant requires additional utilities
in addition to the Term Commencement Date Utilities, the installation and maintenance
thereof shall be Tenant’s sole cost and obligation, provided that such installation shall be
subject to the written consent of Landlord which shall not be unreasonably withheld, delayed
or conditioned. Tenant shall have the right to install supplemental air conditioning units
in the Premises and, in such case, Tenant agrees to install a separate electric meter for
the operation of such supplemental air conditioning units and pay for such services directly
to the utility provider. Landlord represents that Tenant shall not be paying utilities on
those portions of the Premises that it has not yet taken possession of pursuant to the terms
hereof (and Landlord agrees (i) to maintain such portions of the Premises in a manner which
does not adversely impact Tenant’s use or enjoyment of its Premises then being occupied, and
(ii) not to use such space prior to Tenant taking possession thereof for any purpose without
the prior written consent of Tenant excluding the existing or contemplated tenant for
approximately 10,000 square feet on the first floor).

	 	 	Tenant’s normal business hours are 6:00 a.m. to 7:00 p.m., Monday through Friday and 9:00
a.m. through 1:00 p.m. on Saturdays (referred to herein as “Normal Business Hours”). In the
event Tenant shall require Building services other than during such Normal Business Hours
which results in additional cost and expense to Landlord, Tenant shall be responsible to
reimburse Landlord for such additional cost and expense reasonably incurred without Landlord
mark-up.

	 	 	Tenant agrees that in no event shall Landlord be liable for any interruption or delay in
relation to utilities serving the Premises caused by unavoidable accident, making of
repairs, alterations or improvements in the Building, labor difficulties, trouble in
obtaining fuel, electricity or services or supplies, governmental restraints or the actions
or inactions of Tenant or those acting by, through or under Tenant, or other causes beyond
Landlord’s reasonable control (but in respect of those matters for which Landlord is
expressly responsible under this Lease, Landlord will use reasonable efforts under the
circumstances to restore such services or make such repairs) and, in respect of those

-6-

 

	 	 	matters for which the Landlord is responsible, Base Rent shall abate for each day that
Tenant’s use of the Premises is materially curtailed thereby. See Section 23 below for
provisions relating to defaults by Landlord and Section 42 below for provisions relating to
Tenant’s self help rights.

	6.	 	USE OF PREMISES

	 	 	Tenant shall use the Premises only for the operation of its business as it may determine in
its sole discretion from time to time [**] (“Permitted Use”) [**]. Tenant agrees that in no
event shall Tenant’s use of the Premises be unlawful, contrary to law or any applicable
municipal law, regulation, by-law or ordinance; make voidable any insurance on the Building
or on the contents of the Building; be contrary to any law or regulation from time to time
established by any fire rating agency or similar body. Landlord represents that the
Building is zoned for Tenant’s Permitted Use. Tenant shall have the right to maintain
vending machines in the Premises without additional rent or other costs to Landlord.

	7.	 	COMPLIANCE WITH LAWS

	 	 	Tenant, in the operation of its business at the Premises, shall comply in all material
respects with all applicable building, zoning, environmental, health, fire safety, land use
and other federal, state and municipal by-laws, rules, regulations, ordinances, codes and
requirements applicable to the Premises (collectively, the “Applicable Laws”). Before
Tenant occupies any part of the Premises, Tenant shall obtain, at Tenant’s sole cost and
expense, all permits, licenses, and other authorizations required under Applicable Laws
(collectively “Required Permits”) for the completion of Tenant’s Work, as herein defined,
and for the operation of the Premises for the Permitted Use; provided, however, it shall be
Landlord’s obligation to procure a Certificate of Occupancy for the Premises no later than
the Term Commencement Date. Tenant agrees that no trade or occupation shall be conducted in
the Premises or use made thereof which will be unlawful or contrary to any Applicable Laws.

	8.	 	FIRE INSURANCE

	 	 	Tenant shall not permit any use of the Premises which will make voidable any insurance for
the Building or on the contents of the Building, or which shall be contrary to any law or
regulation from time to time established by the New England Fire Insurance Rating
Association, or any similar body succeeding to its powers. Tenant shall on demand reimburse
Landlord all extra insurance premiums caused by Tenant’s use of the Premises.

-7-

 

	9.	 	MAINTENANCE

	 	 	A. Tenant’s Obligations

	 	 	Tenant agrees to perform routine and ordinary repairs to maintain the Premises in good
condition, damage by fire and other casualty and reasonable wear only excepted. After the
applicable warranty period of one (1) year for all Tenant Improvements installed by
Landlord, Tenant’s maintenance of the Premises shall include, without limitation, general
repair of electrical, plumbing, hardware, replacement of light bulbs, paint and carpeting
within the Premises and any and all facilities and utilities installed by Tenant such as
telephone and computer systems, cables and wires. Notwithstanding the foregoing, Tenant
shall be responsible to repair and/or replace, as necessary, interior glass windows and
systems and fixtures within the Premises damaged by Tenant or those acting by, through or
under Tenant. Tenant shall not permit the Premises to be overloaded, damaged, stripped, or
defaced, nor suffer any waste. Tenant shall use and conduct Tenant’s business at the
Premises in such a manner as to assure that no water, noise, fumes, odor or any other
condition escapes or is emitted from the Premises which unreasonably interferes with or in
any manner causes damage to or upon the Building or any abutting space or common area. For
purposes of this Section 9(A), “Premises” shall mean the interior of the Premises then being
occupied by Tenant pursuant to the terms of this Lease up to the interior surfaces of the
walls and ceilings of the Premises (or if there is no dropped ceiling, up to the point of
the lighting fixtures).

	 	 	B. Landlord’s Obligations

	 	 	No later than the Term Commencement Date, Landlord at its own cost and expense (including
any architectural and/or engineering costs) shall complete the renovations and construction
of the Building in accordance with Exhibit E attached hereto (the “Base Building”).
Landlord shall also have the continuing obligations (i) to maintain the Base Building in
good repair and condition during the Term (reasonable wear and tear, damages caused by
Tenant or anyone under its control, and casualty excepted), and (ii) under Section 28 during
the Term of this Lease. During renovations and construction of the Base Building, Tenant
shall have the right to inspect same in order to insure conformance with the provisions of
Exhibit E.

	10.	 	WORK BY TENANT AND LANDLORD

	 	 	A. Tenant’s and Landlord’s Work

	 	 	Landlord shall, at its expense using the Tenant Improvement Allowance (as defined below) and
additional funds from Tenant, if necessary, all as hereinafter provided, promptly complete
all work and improvements and furnish all labor and materials, which are reasonably
necessary for the operation of Tenant’s business in the initial portion of the Premises
including, without limitation, the work and improvements set forth on the Final Plans and
Specs (as defined below) which is not noted as being done by Tenant (“Landlord’s Work”), all
such Landlord’s Work to be in full compliance with the terms of this Section and the other
provisions of this Lease. Tenant’s Plans: The plans and

-8-

 

	 	 	specifications for Landlord’s Work shall be prepared by Tenant’s architect working in
concert with Tenant’s design team, and subject to the review and approval as provided in
this Section 10(A) of Landlord in three phases.

	 	 	Space Plan: Attached hereto as Exhibit F is Tenant’s initial Space Plan (the “Initial
Space Plan”) for the initial portion of the Premises which has been agreed upon by
Landlord and Tenant. Tenant’s architect may prepare and submit to Landlord for approval
modifications to the Initial Space Plan. Such modifications shall be submitted to Landlord
within fifteen (15) days after the execution of this Lease. Landlord will cooperate and
respond promptly (which means within ten (10) days of receipt; failing which the
modifications shall be deemed approved by Landlord) to give Tenant either its approval or
any suggestions for changes to the modifications to the Initial Space Plan and Landlord
shall give final approval of any modifications to the Initial Space Plan for this phase to
be completed. The date on which Tenant receives Landlord’s final approval for any
modifications to the Initial Space Plan is referred to as the “Space Plan Approval
Date” (and if Tenant’s architect does not submit any modifications to the
Initial Space Plan within such fifteen (15) day period, the Initial Space Plan shall be
deemed the Space Plan for all purposes of this Lease and the Space Plan Approval Date shall
be the last day of such fifteen (15) day period).

	 	 	Permit Set: On or before eighty-two (82) days after the Space Plan Approval Date, Tenant’s
architect shall prepare and submit to Landlord for approval a set of plans in sufficient
detail to allow for application to the City of Lawrence for a building permit for Landlord’s
Work (the “Permit Set”). To the extent the Permit Set is in substance consistent with the
Space Plan, then Landlord shall not unreasonably delay, condition or withhold its approval
of the Permit Set. Any variations in substance between the Permit Set and the Space Plan
will be subject to Landlord’s separate review and considered as an alteration to the Space
Plan. Landlord will cooperate and respond promptly (which means within ten (10) days of
receipt; failing which the Permit Set shall be deemed approved) to give Tenant either its
approval or any suggestions for changes to the Permit Set and Landlord shall give final
approval of the Permit Set for this phase to be completed. Promptly after approval of the
Permit Set, Landlord shall file an application for a building permit for Landlord’s Work.

	 	 	Final Plans and Specs: Within fifteen (15) days after Landlord applies for said building
permit, Tenant’s architect shall prepare and submit to Landlord for approval a set of final
plans and specifications for Landlord’s Work (the “Final Plans and Specs”). To the extent
the Final Plans and Specs are in substance consistent with the Permit Set, then Landlord
shall not unreasonably delay, condition or withhold its approval of the Final Plans and
Specs. Any variations in substance between the Final Plans and Specs and Space Plan (as
amended by the Permit Set, if applicable) will be subject to Landlord’s separate review and
considered as an alteration to the Space Plan. Landlord will cooperate and respond promptly
(which means within ten (10) days of receipt; failing which the Final Plans and Specs shall
be deemed approved) to give Tenant either its approval or any suggestions for changes to the
Final Plans and Specs and Landlord shall

-9-

 

	 	 	give final approval of the Final Plans and Specs for this phase to be completed. Landlord’s
Work shall be completed in accordance with the Final Plans and Specs (subject to any changes
approved by Tenant).

	 	 	Notwithstanding the foregoing, Tenant shall be deemed to be in compliance with the terms of
this Section 10(A) if the Final Plan and Specs have been submitted to Landlord within one
hundred twelve (112) days from the date of execution of this Lease.

	 	 	Before starting Landlord’s Work, Landlord shall obtain all permits, licenses and other
authorizations required under all Applicable Laws (collectively, the “Permits”), all of
which shall be maintained in Landlord’s name in full force and effect. Landlord shall begin
Landlord’s Work promptly after issuance of the Permits. Once commenced, all Landlord’s Work
shall be diligently pursued to completion and shall be performed by Landlord in a good and
workmanlike manner using new and first-class materials and supplies, free from defects in
design, construction, workmanship and materials, in accordance with all Applicable Laws and
the fire insurance rating association having jurisdiction over the Premises. Landlord
agrees to (i) promptly review and respond to comments to plans and specifications submitted
to Landlord pursuant to the provisions of this Section, and (ii) coordinate with Tenant for
Tenant’s access to the Premises. All of Landlord’s Work shall be bid and performed on an
open book basis and Landlord shall solicit a minimum of three (3) bids from third party
contractors and shall require that its general contractor solicit a minimum of three (3)
bids from any subcontractor where the scope of the work to be done by a subcontractor
exceeds $100,000. The general contractor may be owned in part or entirely by principals of
Landlord. During Landlord’s Work, Tenant may install certain improvements (“Tenant’s Work”)
as set forth on Exhibit F-1, which shall be coordinated with Landlord’s contractor.
Landlord will not charge any Landlord supervisory or construction management fees on
Tenant’s Work including without limitation any fees required to review plans and
specifications for Tenant’s Work. For purposes of this Lease, “Tenant Improvements” shall
mean Landlord’s Work and Tenant’s Work.

	 	 	Tenant shall have the right to inspect Landlord’s Work to insure conformance with the Final
Plans and Specs and the provisions of this Section 10. Landlord shall not, and shall cause
its general contractor to not, modify the Final Plans and Specs without the Tenant’s prior
written consent. In the event that Tenant submits a written change order to Landlord (or
its general contractor) to change what was agreed to in the Final Plans and Specs, Landlord
shall cause its general contractor to promptly provide to Tenant any increases to the Budget
(as defined below) which Tenant must agree to in writing. In addition, Landlord shall also
cause its general contractor to promptly provide to Tenant any increases in the number of
days for Landlord to substantially complete Landlord’s Work for purposes of Sections 3 and
30 and Exhibit I. If Tenant disagrees with the number of days the dates in Sections 3 and
30 and Exhibit I shall be increased, the parties have agreed that Ted Caswell shall issue a
final and binding determination of the number of days such dates shall increase (if any).
Based on such determination, Tenant can decide to implement such change order or cancel
same. Tenant shall also have the right to modify Landlord’s Work to have work done in other
parts of the Building Tenant will not be occupying upon the Term Commencement Date.

-10-

 

	 	 	B. Tenant Improvement Allowance

	 	 	Landlord agrees that it will provide to Tenant an allowance of $4,300,000 (the “Tenant
Improvement Allowance” or “TIA”) which shall be used to pay for Landlord’s Work, in
accordance with the Final Plans and Specs. Tenant shall have the right to apply part of the
Tenant Improvement Allowance toward the costs of Tenant design, preparation, renovation and
construction within the Premises including without limitation to Tenant’s Work and may also
apply part of the TIA towards non-building related items such as, but not limited to,
permitting, space plans, moving, architectural and engineering, attorneys’ fees and
expenses, project management, wiring and cabling, special electrical power distribution,
telephone and security systems and the purchase and installation of any furniture, fixtures
and equipment to be used for or within the Premises. Prior to commencing the Tenant
Improvements, Tenant must approve Landlord’s budget for the Landlord’s Work (the “Budget”)
and any changes thereto must be approved by Tenant. After the Rent Commencement Date any
unused portion of the TIA shall be credited against future Tenant Improvements required for
the occupancy by Tenant of additional portions of the Premises as required by the Lease and
may also be used by Tenant to cover up to three (3) months Base Rent which shall be
amortized over the remaining initial Term of the Lease. When the TIA is entirely expended
for the purposes set forth in this Lease, including Landlord’s Work, Tenant hereby agrees
to pay to Landlord all costs and expenses in a timely manner in excess of the TIA for
unfunded Tenant Improvements and Landlord’s Work. Tenant further agrees to pay all costs
for Tenant Improvements for future portions of the Premises to be occupied by Tenant in
accordance with Exhibit B once the TIA is fully expended.

	 	 	C. Future Improvements.

	 	 	The parties anticipate using the process contained in this Section 10 for future work
required for Tenant to occupy the balance of the Premises as provided on the Take-Down
Schedule. The parties agree to cooperate in this regard including developing a schedule for
the completion of the applicable build-out by the date Rent commences for such space and
Tenant shall have the right to access portions of the Building it is not then occupying in
connection with each such build-out. Notwithstanding the foregoing, in the event that
Tenant is not reasonably satisfied with the process contained in Section 10 for the initial
improvements to the Premises, Tenant is not bound to use the process contained in Section
10(A) for the future work required for Tenant to occupy the balance of the Premises.

	11.	 	ALTERATIONS — ADDITIONS

	 	 	Except as contemplated by the terms of this Lease and except for non-structural alterations
or additions costing less than $75,000 to complete, Tenant shall not make any type of
alterations or additions to the Premises without Landlord’s prior written consent, which
consent shall not be unreasonably denied, withheld or delayed. Except as otherwise provided
herein, any alterations or improvements to be made by Tenant shall be at Tenant’s sole cost
and expense and shall become the property of Landlord at the termination of occupancy as
provided herein, except that Tenant may remove personal property and trade fixtures in
accordance with the terms of Section 21 hereof. No portion

-11-

 

	 	 	of the initial build out or alterations or additions to the Premises shall be removed from
the Premises without Landlord’s consent.

	12.	 	ASSIGNMENT — SUBLEASING

	 	 	So long as the proposed use is not illegal or contrary to law, and so long as there exists
no monetary default by Tenant under this Lease beyond applicable cure periods and no fact
nor circumstances which, with the giving of notice, the passage of time, or both, would
constitute a default by Tenant under this Lease, Tenant may sublease portions of the
Premises without Landlord’s consent.

	 	 	Except as otherwise provided in this Lease, Tenant shall not assign, mortgage, pledge or
encumber this Lease, without, on each occasion, obtaining Landlord’s prior written consent
thereto which consent shall not be unreasonably withheld, delayed or conditioned provided
that (i) there exists no monetary default by Tenant under this Lease beyond applicable cure
periods and no fact nor circumstances which, with the giving of notice, the passage of time,
or both, would constitute a default by Tenant under this Lease, and (ii) the assignee, on
Landlord’s commercially reasonable form, inter alia, assumes and agrees to pay and perform
all the obligations of the Tenant under the Lease jointly and severally with Tenant if the
proposed assignee does not meet the Net Worth Requirement (as defined below). Subject to
the next paragraph, as used herein the term “assign” or “assignment” shall be deemed to
include, without limitation: (x) any transfer of the Tenant’s interest in the Lease by
operation of law, the merger or consolidation of the Tenant with or into any other firm or
corporation; or (y) the transfer or sale of a controlling interest in the Tenant whether by
sale of its capital stock or otherwise. Notwithstanding anything to the contrary contained
herein, at Landlord’s option, in Landlord’s sole discretion, any assignment in violation of
the provisions of this Section shall result in this Lease being binding upon the assignee,
jointly and severally, with Tenant. Landlord’s consent shall be deemed granted if not
denied in writing by Landlord within seven (7) days after receipt by Landlord of Tenant’s
request in writing.

	 	 	Notwithstanding the foregoing, Landlord’s consent shall not be required for an assignment of
the Lease to a Related Assignee as hereinafter defined, provided that the following
conditions precedent are satisfied: (a) Tenant is not in monetary default under this Lease
nor would be in default but for the giving of notice or the passage of time or both; (b)
Tenant has provided Landlord with fifteen (15) business days’ advance written notice of such
proposed assignment together with Tenant’s certification and documentation that the
assignment is in fact to a Related Assignee; and (c) the Related Assignee meets the Net
Worth Requirement as reflected by current financial statements of the Related Assignee in
form reasonably acceptable to Landlord and delivered to Landlord with the notice of such
proposed assignment. A “Related Assignee” shall be any one of the following parties: (w) a
subsidiary, affiliate or division of Tenant; (x) an entity which or into which Tenant may
consolidate or merge; (y) an entity that controls, is controlled by or is under common
control with Tenant; or (z) any entity that is acquiring all or substantially all of the
stock or assets and operations of Tenant as a going concern or a substantial portion of
Tenant’s business. “Net Worth Requirement” shall mean that

-12-

 

	 	 	the assets reflected on the most current Balance Sheet exceed the liabilities by at least
$100 million.

	 	 	In the event of the assignment where the Net Worth Requirement has not been met or
subletting by the Tenant, Tenant shall remain primarily liable with the new tenant, jointly
and severally, for the payment of any and all Base Rent, Additional Rent and other amounts
which may become due by the terms of this Lease and for the performance of all covenants,
agreements and conditions on the part of Tenant to be performed hereunder. Tenant shall
also pay to Landlord, from time to time, fifty percent (50%) of all rent and payments on
account of expenses received as a result of the assignment or sublet which exceeds the rent
and payments on account of expenses payable hereunder, net of any expenses incurred by
Tenant related to such assignment or sublease. No such assignment shall be valid or
effective unless (i) it is approved in advance in writing by Landlord where required
pursuant to the terms hereof and (ii) the assignee enters into an agreement on Landlord’s
form, providing, inter alia (a) as to assignee, that assignee be bound directly to the
Landlord and (b) limiting the use of the Premises to the specific use allowed under this
Lease. No modification of the terms of this Lease or any course of dealing between Landlord
and any assignee or sublessee of the Tenant’s interest herein shall operate to release or
impair Tenant’s obligations hereunder.

	 	 	The consent by Landlord to any assignment, mortgage, pledge or subletting shall not
constitute a waiver of the necessity of such consent to any subsequent assignment or
subletting. Tenant shall pay all Landlord’s reasonable attorneys’ fees and expenses
incurred (in no event to exceed $2,500.00 per request) in connection with each Tenant’s
request to assign or sublet under this Lease or Tenant’s request for Landlord to take any
other action under this Section, whether or not Landlord withholds or provides its consent
hereunder.

	13.	 	SUBORDINATION

	 	 	This Lease shall be automatically subject and subordinate to any and all mortgages, deeds of
trust, and other instruments in the nature of a mortgage now or at any time hereafter a lien
on the Building subject to the condition that the holder of any such instrument shall enter
into with Tenant a commercially reasonable form of a so-called subordination,
non-disturbance and attornment agreement (an “SNDA”) to confirm the subordination of this
Lease to mortgages, deeds of trust, or other instruments in the nature thereof and to
provide for Tenant’s non-disturbance in the event of the foreclosure or deed in lieu of
foreclosure thereof. Upon the execution of this Lease, Landlord shall cause any lender
holding a mortgage on the Building to provide its SNDA to Tenant and the execution thereof
by such lender shall be a condition of Tenant entering into this Lease. Tenant shall, when
requested, promptly (and in any event within ten (10) business days after Landlord’s written
request) execute and deliver a commercially reasonable SNDA. Should Tenant fail to execute,
acknowledge and deliver a commercially reasonable SNDA in accordance with the terms hereof,
then Tenant shall be deemed to be in default under Section 18 of this Lease subject to
applicable notice and cure periods. Tenant

-13-

 

	 	 	agrees not to assert any claim against a foreclosing mortgagee for any obligation of
Landlord accruing prior to the time such mortgagee took possession of the Building.

	 	 	Tenant agrees that Tenant will recognize as its landlord under this Lease and shall attorn
to any party succeeding to the interest of Landlord upon any foreclosure of any mortgage or
deed of trust upon the Building or upon the execution of any deed in lieu of such
foreclosure in respect of such mortgage or deed of trust, on the condition that such
successor party shall recognize Tenant’s right of possession of the Premises on terms and
conditions stated in this Lease.

	14.	 	ACCESS

	 	 	Tenant shall have access to the Building and Premises, common driveways and walkways,
elevators, common lobbies and hallways, parking areas, loading areas, trash enclosures, and
any other areas located in or on or servicing the Building twenty-four (24) hours a day,
seven (7) days a week during the Term of the Lease. Landlord or its agents or parties
acting on Landlord’s behalf may enter the Premises (i) to view the Premises during normal
business hours upon reasonable advance communication (written or oral) and in the presence
of Tenant or its representatives, except in the event of an emergency, in which case no
communication or presence of Tenant or its representatives is required, (ii) to require
removal of placards and signs not approved and affixed as herein provided, (iii) to make
repairs and alterations pursuant to, as applicable, under this Lease, including, without
limitation, to maintain, use, repair, replace, relocate or introduce pipes, ducts, wires,
meters and any other fixtures or equipment serving or to serve the Premises or other parts
of the Building including, without limitation, common areas and common facilities and
premises of other tenant(s), or to maintain or repair any portion of the Building upon
reasonable advance communication (written or oral) to Tenant and in the presence of Tenant
or its representatives except in the event of an emergency in the Premises or elsewhere, in
which case no communication is required to enter the Premises (forcibly, if necessary) to
take such measures as may be needed to cope with such emergency, and (iv) to show the
Premises to prospective lenders, purchasers or, within twelve (12) months of the expiration
hereof, tenants during normal business hours upon reasonable advance communication (written
or oral) to Tenant and in the presence of Tenant or its representatives. Tenant shall not
change any locks to the Premises without prior written notice to Landlord, and Landlord
shall at all times have a duplicate key to the Premises and access codes for any security
systems at the Premises. Tenant shall cooperate in connection with the foregoing access and
for the purposes described above. To the extent that Landlord exercises rights (other than
in an emergency) pursuant to this Section, Landlord shall use commercially reasonable
efforts to access the Premises and perform such work pursuant to this Section in a
cost-effective and efficient manner to thereby reasonably minimize material and adverse
interference with Tenant’s business, with Tenant making reasonable accommodations for such
Landlord’s access and work to be performed by Landlord in such manner; provided however,
that in all cases, in making such access pursuant to this Section 14, Landlord will not
materially and adversely interfere with Tenant’s access to and use of the Premises, will not
reduce the area of the Premises, and will not materially and adversely

-14-

 

	 	 	interfere with Tenant’s access to and use of those portions of the Building designated for
Tenant’s exclusive use.

	15.	 	INDEMNIFICATION AND LIABILITY

	 	 	Tenant agrees to exonerate, indemnify, defend, save and hold harmless the Landlord (and any
and all persons claiming by, through or under Landlord) from and against all claims,
proceedings, defenses thereof, liabilities, costs, and expenses of any kind and nature,
including reasonable legal fees, arising from: (i) any breach of this Lease by Tenant or
those for whom Tenant is responsible; and (ii) any injury, loss or damage occurring on or
emanating from the Premises, including, without limitation, as the result of any act,
omission or negligence of the Tenant, or Tenant’s contractors or licensees, or of the
agents, servants, employees or business invitees of Tenant, or persons coming into the
Premises for the purpose of visiting or dealing with any one or one or more of the
foregoing, or arising from any accident, injury or damage occurring outside of the Premises,
the parking areas and the approaches thereto, but, in, on or about the Building, which such
accident, damage or injury results or is claimed to have resulted from the negligence or
misconduct on the part of Tenant or Tenant’s contractors or licensees, or of the agents,
servants, employees or business invitees of Tenant, including, without limitation, related
to or arising from vehicles and other forms of transportation of Tenant or those acting by,
through or under Tenant at the Building or the approaches thereto; provided, however the
foregoing shall not apply to Landlord’s (or anyone under its control or for whom it is
responsible) negligent acts and omissions. This exoneration, indemnification and hold
harmless agreement shall survive the termination of this Lease for matters which arise
during the term of this Lease or during any period of continued occupancy of the Premises by
Tenant or parties for whom Tenant is responsible (as provided above) after the term of this
Lease.

	 	 	Landlord agrees to exonerate, indemnify, defend, save and hold harmless the Tenant (and any
and all persons claiming by, through or under Tenant) from and against all claims,
proceedings, defenses thereof, liabilities, costs, and expenses of any kind and nature,
including reasonable legal fees, arising from: (i) any breach of this Lease by Landlord or
those for whom Landlord is responsible; and (ii) any injury, loss or damage occurring on or
emanating from the Premises, as the result of any act, omission or negligence of the
Landlord, or Landlord’s contractors or licensees, or of the agents, servants, employees or
business invitees of Landlord, or arising from any accident, injury or damage occurring
outside of the Premises, but in, on or about the Building including without limitation the
parking areas and the approaches thereto; provided, however the foregoing shall not apply to
Tenant’s (or anyone under its control or for whom it is responsible) negligent acts and
omissions. This exoneration, indemnification and hold harmless agreement shall survive the
termination of this Lease for matters which arise during the term of this Lease or during
any period of continued occupancy of the Premises by Tenant or parties for whom Tenant is
responsible (as provided above) after the term of this Lease.

	 	 	Landlord and Tenant release each other from any claims and demands of whatever nature for
damage, loss or injury to the Building or to the other’s property in, on or about the
Premises, and the Building that are caused by or result from risks or perils insured against

-15-

 

	 	 	under any property insurance policies required by the Lease to be maintained. If required
by the terms of their respective insurance policy(ies), Landlord and Tenant shall cause
their insurers to waive any right of recovery by way of subrogation against either Landlord
or Tenant in connection with any property damage covered by any such policies. The
foregoing shall not be construed to release or alter Tenant’s and Landlord’s agreements and
obligations required by any other Section of this Lease to be performed and/or undertaken by
Tenant or Landlord.

16.   INSURANCE.

	 	 	A. Tenant’s Insurance.

	 	 	Tenant shall maintain with respect to the Premises and the Building of which the Premises
are a part (i) casualty insurance covering all of Tenant’s fixtures, equipment and personal
property, in an amount at least equal to the full replacement cost; and (ii) commercial
general liability insurance covering the insured against claims of bodily injury, personal
injury and property damage arising out of Tenant’s operations or use of the Premises or the
Building, including the performance by Tenant of the indemnities set forth herein, with a
combined single limit per occurrence of not less than $3,000,000.00 (or such higher limits
as is or may be reasonably required by Landlord based upon inflation, increased liability
awards, recommendations of Landlord’s mortgagee or professional insurance advisors and which
is consistent with what comparable tenants are paying in the general locale of the Building)
and $5,000,000.00 in the aggregate. All insurance required to be maintained by Tenant shall
be with responsible companies qualified to do business in Massachusetts and in good standing
therein insuring Landlord (and, if requested, Landlord’s lender(s) ) as additional insured,
as well as Tenant, against injury to persons or damage to property as provided above.
Tenant shall deposit with Landlord certificates for such insurance at or prior to the
commencement of the Term, and thereafter no later than thirty (30) days after Landlord’s
request for same (not more than once per calendar year). All such insurance certificates
shall provide that the insurer will endeavor to mail thirty (30) days’ prior written notice
to each insured named therein prior to such policies being canceled or modified in any
material respect but its failure to do so shall impose no obligation or liability of any
kind or nature upon Tenant, the insurer or their agents or representatives.

	 	 	B. Landlord’s Insurance.

	 	 	Landlord agrees to maintain All-Risk Property insurance for the Building (including all
fixtures and equipment that Landlord installs for the operation of Building) insuring
Landlord against loss or damage from fire and other risks which are customarily contemplated
by reasonably prudent owners of similar buildings in the area in which the Building is
located and such other insurance the then holders of mortgages which include the Building
shall require, in amounts not less than 100% of the replacement cost of the Building, the
Building’s fixtures and equipment (excluding footings and foundations). Landlord
acknowledges that the Building is located in a so-called Flood Hazard Area and the above
insurance shall include coverage for damage caused by floods. Landlord may satisfy such
insurance requirements by including the Building in a so-called “blanket”

-16-

 

	 	 	insurance policy, provided that the amount of coverage allocated to the Building shall
fulfill the foregoing requirements.

	 	 	Landlord shall also maintain with respect to the Building commercial general liability
insurance covering the insured against claims of bodily injury, personal injury and property
damage arising out of Landlord’s operation of the Building, including the performance by
Landlord of the indemnities set forth in this Lease, with a combined single limit per
occurrence of not less than $3,000,000 (or such higher limits as may be reasonable in the
opinion of Landlord’s mortgagee or mortgagees and which is consistent with the general
locale of the Building) and $5,000,000 in the aggregate.

	 	 	All insurance required to be maintained by Landlord shall be with responsible companies
qualified to do business in Massachusetts and in good standing therein. Such insurance
shall contain a waiver of subrogation clause in favor of Tenant.

	17.	 	FIRE, CASUALTY — EMINENT DOMAIN

	 	 	A. Casualty 

	 	 	In case following the execution hereof and prior to the expiration of the Term hereof the
Premises shall be damaged or destroyed in whole or in part by fire or other casualty, this
Lease shall, except as hereinafter provided in this Section, remain in full force and effect
and Landlord shall, upon notice of such damage from Tenant and proceeding with reasonable
dispatch, repair or rebuild so much of the Premises as have been damaged by fire or the
elements to substantially their condition at the time of the Term Commencement Date
(subject, however, to zoning laws and building codes then in existence). Landlord shall in
all events not be responsible for any delay which may result by reason of adjustment of
insurance claims, collection of insurance proceeds, labor troubles, or from any other cause
beyond Landlord’s reasonable control, with the understanding and agreement by Tenant that
repair or restoration work will not occur prior to receipt of sufficient insurance proceeds,
nor sums be expended in excess of net recovered insurance proceeds. Tenant shall
concurrently repair or restore so much of the Premises as was constructed by Tenant and
shall repair and restore its fixtures and personal property with the understanding and
agreement by Landlord that repair or restoration work will not occur prior to receipt of
sufficient insurance proceeds, nor sums be expended in excess of net recovered insurance
proceeds.

	 	 	In the event that the provisions of this Section shall become applicable, the Base Rent and
Additional Rent for real estate taxes and Operating Expenses shall be abated or reduced
proportionately during any period in which, by reason of any such damage or destruction,
there is substantial interference with the operation of the business of Tenant in the
Premises, having regard to the extent to which Tenant may be required to discontinue its
business in the Premises, and such abatement or reduction shall continue for the period
commencing with such destruction or damage and ending with the substantial completion of
such work, repair and/or reconstruction by Landlord.

-17-

 

	 	 	Notwithstanding the foregoing, either Landlord or Tenant may terminate this Lease following:
(i) damage or destruction to the Premises to the extent of twenty-five percent (25%) or
more of the replacement cost thereof; or (ii) the refusal of the applicable insurance
carrier to pay funds sufficient for the cost to repair or replace or the refusal of any
applicable mortgagee to release the insurance proceeds for such purposes or the imposition
of unsatisfactory conditions by the insurance carrier or the applicable mortgagee. Landlord
or Tenant may exercise the right to so terminate this Lease by written notice to the other
given by the later of (a) ninety (90) days of the date of the damage, or (b) thirty (30)
days after the date the insurer or mortgagee notifies Landlord of its refusal or failure to
release sufficient proceeds or imposes unsatisfactory conditions but in no event later than
one hundred and twenty (120) days after the date of such damage, whichever is later. Such
notice of termination shall be effective on the date thereof. Notwithstanding the
foregoing, if the Premises shall have been damaged or destroyed as aforesaid and if the
Landlord exercises its right to terminate this Lease in accordance with the foregoing
provisions of this Section 17A as a result of an insufficiency of insurance proceeds, then
the Tenant shall have the right at its election to nullify the Landlord’s termination
thereof by paying to the Landlord, within fifteen (15) days after the date of the Landlord’s
termination notice, the amount of the insufficiency, as reasonably determined and estimated
by the Landlord, of any net insurance proceeds available to the Landlord to cover the cost
to restore and repair the Premises.

	 	 	If the Premises are damaged by fire or other casualty and are not substantially repaired or
restored to the condition existing on the date of such damage within one hundred eighty
(180) days following the date of such fire or other casualty as provided herein, Tenant may
thereafter terminate this Lease upon thirty (30) days prior written notice to Landlord
unless such repair or restoration is completed within such thirty day period.

	 	 	B. Eminent Domain

	 	 	If, during the Term, the Premises or any part thereof, or the whole or any substantial part
of the Building, shall be taken, or if a conveyance shall be made in anticipation thereof,
for any street or other public use, by action of the municipal, state, federal or other
authorities, or shall receive any substantial direct or consequential damage for which
Landlord shall be entitled to compensation by reason of anything lawfully done in pursuance
of any public authority (referred to herein as a “Taking”), then this Lease and the
Term hereof shall terminate at the election of Landlord and such election may be made in
case of any such taking notwithstanding the entire interest of Landlord may have been
divested by such taking; and if Landlord does not so elect, then in case of any such taking
or destruction of, or damage to, the Premises, rendering the same or any part thereof unfit
for use and occupation, a just proportion of the Base Rent and Additional Rent for real
estate taxes and Operating Expenses hereinbefore reserved according to the nature and extent
of the injury sustained by the Premises, shall be suspended or abated until the Premises or,
in case of such taking, what may remain thereof, shall have been put in proper condition for
use and occupation. To the extent that the Premises, upon having been put in proper
condition for use and occupation are smaller, the Base Rent hereinbefore reserved and
Tenant’s Pro-Rata Share shall be adjusted for the balance of

-18-

 

	 	 	the lease term in the same proportion which the reduction in space bears to the original RSF
of the Premises.

	 	 	In the event of a Taking where Tenant’s use and enjoyment of twenty-five percent (25%) or
more of the Premises has been impacted, Tenant may terminate this Lease upon written notice
to Landlord within sixty (60) days of such Taking.

	 	 	If this Lease is not terminated as provided in this Section and to the extent proceeds are
made available to Landlord, Landlord shall use commercially reasonable efforts to apply, so
much of the available proceeds of the eminent domain award as are required to restore the
Premises to a condition, to the extent practical, substantially the same as that existing on
the date of such taking, but subject to zoning laws and building codes then in existence.
If the available proceeds of the eminent domain award are insufficient in Landlord’s opinion
for that purpose, there shall be no obligation by Landlord to expend funds in excess of said
proceeds allocated to the Premises. Tenant shall have the right to terminate this Lease by
notice to Landlord after the Landlord does not restore the Premises to the condition
required above within one hundred and twenty (120) days of such taking. The term “available
proceeds” shall mean the amount of the award paid to the Landlord and available to the
repair of the Premises, less cost of obtaining the same (including, without limitation,
reasonable attorneys’ fees and appraisal fees) and less the amount thereof required to be
paid to a mortgagee and less any amounts as determined by Landlord in Landlord’s reasonable
discretion to other portions of the Building other than the Premises.

	 	 	Landlord reserves, for itself, all rights to compensation for damage to the Premises or any
part thereof, or the leasehold hereby created, heretofore accrued or hereafter to accrue, by
reason of any taking for public use of said Premises or any portion thereof, or right
appurtenant thereto, or privilege or easement in, through, under or over the same, and by
way of confirmation of the foregoing Tenant hereby assigns all rights to such damages
heretofore accrued or hereafter accruing during the term to Landlord; provided,
however, nothing herein contained shall limit Tenant’s right to any separate award
for the taking of personal property, moving and relocation awards, expenses, or other items
including the loss of business goodwill so long as the payment of which shall not reduce the
award payable to, as applicable, Landlord.

	18.	 	DEFAULT AND REMEDIES

	 	 	A. In the event that any of the following occur (each a “default” hereunder):

	 	 	1. Tenant shall fail to timely pay any installment of Rent, Additional Rent or other sum
herein specified to be due to Landlord from Tenant under this Lease which is not disputed in
good faith by Tenant or subject to setoff pursuant to the terms hereof and such failure
shall continue for (aa) ten (10) days after written notice of such failure to timely pay for
the first failure in any twelve month period and (bb) ten (10) days after such payment is
due (without the necessity of Landlord sending notice) for the second and any subsequent
Tenant’s failure during any twelve month period to timely pay any

-19-

 

	 	 	installment of Rent, Additional Rent or other sum herein specified to be due to Landlord
from Tenant; or

	 	 	2. Tenant shall fail to observe or perform any of Tenant’s covenants, agreements, or
obligations hereunder other than a failure as set forth in Sections 18.A.1. above and
18.A.3. below, and such failure shall not be corrected within thirty (30) days after written
notice (“Non-Monetary Breach Notice”) thereof which specifically sets forth the covenant,
agreement or obligation Tenant has failed to observe or perform or such additional time as
is required to effect cure provided Tenant has then commenced and thereafter reasonably
diligently pursues cure; or

	 	 	3. Tenant shall file a petition under any bankruptcy or insolvency or similar law, or if
Tenant shall be declared bankrupt or insolvent according to law, or if any assignment shall
be made of Tenant’s property for the benefit of creditors.

	 	 	B. Following a default by Tenant, Landlord shall have the right thereafter to re-enter
and take complete possession of the Premises, to declare the Term of this Lease ended,
and/or to remove Tenant’s effects, without prejudice to any rights or remedies hereunder,
including, without limitation, which Tenant effects might be otherwise used for arrears of
rent, other amounts due hereunder or in relation to other default(s) or otherwise as
provided in Section 21 of this Agreement and/or to exercise such other rights and remedies
as may be available at law or in equity. If Tenant shall default under this Lease (after
applicable notice and cure periods), Landlord, without being under any obligation to do so
and without thereby waiving such default, may remedy such default for the account and at the
expense of Tenant. If Landlord makes any expenditures or incurs any obligation for the
payment of money in connection with this Lease and/or default by Tenant under this Lease,
including but not limited to, reasonable attorneys’ fees in instituting, prosecuting or
defending any action or proceedings applicable to this Lease, including, without limitation,
Tenant’s default hereunder or Tenant’s use of the Premises, such sums paid or obligations
incurred, with interest at the Default Rate shall be paid to Landlord by Tenant as
Additional Rent upon demand. Tenant shall pay all Landlord’s costs, including reasonable
attorneys’ fees, in enforcing and/or defending Landlord’s rights hereunder, and in
collecting undisputed amounts due hereunder so long as Landlord prevails in such action.

	 	 	In the event of a default by Tenant resulting in Landlord’s termination of this Lease,
Tenant shall immediately owe and pay to Landlord upon written demand the following as
liquidated damages being a reasonable forecast of Landlord’s damages expected to occur
following Tenant’s default: (i) the total of all amounts then due from Tenant under this
Lease; (ii) the total of Base Rent and Landlord’s reasonable estimate of any other charges
which may become due under this Lease through the date of Tenant’s Termination Option (as
defined below) (plus the Base Rent which would be due upon the exercise by Tenant of the
Termination Option), plus interest at the Default Rate through the date of payment of those
amounts and costs of collection thereof; and (iii) the total of the following amounts
(“Reimbursement Payment”): (aa) the amount that results from multiplying (x) all Landlord’s
costs and expenses associated with the negotiation and execution of the Lease, including,
without limitation, the brokerage commission and

-20-

 

	 	 	Landlord’s reasonable attorneys’ fees and expenses, by (y) a fraction, the numerator of
which is the number of remaining months of what would have been the Term except for the
earlier termination (“Default Numerator”) and the denominator of which is 132; plus (bb) the
amount that results from multiplying the amounts (collectively, “Landlord’s Payments”)
Landlord paid from the TIA by a fraction, the numerator of which is the Default Numerator
and the denominator of which is 132. Any rent Landlord collects for the Premises for the
balance of what would have been the Term but for the early termination after first deducting
all leasing costs, brokerage commissions, improvement costs, reasonable legal fees and
expenses, and other costs incurred by Landlord in connection with the replacement lease
shall be credited against amounts due by Tenant hereunder, or, if applicable, remitted to
Tenant, if, as and when received by Landlord. Landlord at Landlord’s option may
make such alterations, repairs, replacements and decorations at the Premises as Landlord in
Landlord’s reasonable judgment considers advisable and necessary for the purpose of
re-letting the Premises, and the making of such alterations or decorations shall not operate
or be construed to release Tenant from liability hereunder. Landlord shall in no event be
liable in any way for the failure or refusal to re-let the Premises or any parts thereof,
nor shall such failure or refusal of Landlord to re-let the Premises release or affect
Tenant’s liability for damages, and further, if the Premises are re-let, Landlord shall in
no event be liable in any way for the failure to collect the rents due under such
re-letting, provided that Landlord acts in good faith. Notwithstanding the foregoing,
Landlord agrees to use commercially reasonable efforts to mitigate its damages hereunder.

	19.	 	SECURITY DEPOSIT

     (a) Within fifteen (15) days after the execution and delivery of this Lease, Tenant
shall deliver to Landlord [**] Dollars ($[**]) (the “Security Deposit”). The Security
Deposit shall be in the form of cash.

     (b) The Security Deposit as provided in this Section 19 is security for the
faithful performance and observance by Tenant of the terms, provisions and conditions of
this Lease. It is agreed that in the event Tenant defaults in respect of any of the terms,
provisions and conditions of this Lease or would be in default but for the passage of time
or the giving of notice or both that is interrupted, stayed, barred or tolled by applicable
law or legal proceeding, Landlord may use, apply or retain the whole or any part of the
Security Deposit to the extent required for payment of any Rent, or any other sum as to
which Tenant is in default or for any sum which Landlord may expend or may be required to
expend by reason of Tenant’s default in respect of any of the terms, covenants and
conditions of this Lease, including but not limited to any damage or deficiency accrued
before or after summary proceedings or other re-entry by Landlord, including the costs of
such proceeding or re-entry and further including, without limitation, reasonable attorney’s
fees. It is agreed that Landlord shall always have the right to apply the Security Deposit,
or any part thereof, as aforesaid, without notice (except for the notice and cure periods
provided in Section 18 hereof) and without prejudice to any other remedy or remedies which
Landlord may have, or Landlord may pursue any other such remedy or remedies in lieu of
applying the Security Deposit or any part thereof. The

-21-

 

	 	 	Security Deposit shall be deposited in a separate account and Landlord shall accrue the
interest thereon for the benefit of Tenant and credit same to Tenant at the commencement of
each calendar year. Upon the commencement of the fifth (5th) Lease Year, and in
the event that Tenant is not then in default under the terms and provisions of this Lease
beyond any applicable cure period and has not been in default under this Lease which default
remained uncured for more than thirty (30) days, Landlord shall reimburse fifty percent
(50%) of the Security Deposit to Tenant. If Landlord shall apply the Security Deposit in
whole or in part, Tenant shall upon demand pay to Landlord the amount so applied to restore
the Security Deposit to its original amount (as adjusted pursuant to the preceding
sentence). Within thirty (30) days after the end of the Lease and delivery of the Premises
in accordance with the terms hereof, Landlord shall return the Security Deposit (or whatever
amount remains after Landlord exercises its other rights hereunder) to Tenant. In the event
of a sale or other transfer of the Building of which the Premises are a part, Landlord shall
transfer the Security Deposit then remaining to the purchaser or transferee and Landlord
shall thereupon be released from all liability for the return of such Security Deposit to
Tenant; and Tenant agrees to look solely to the new landlord for the return of the Security
Deposit then remaining. The holder of any mortgage upon the Building of which the Premises
are a part shall never be responsible to Tenant for the Security Deposit or its application
or return unless the Security Deposit shall actually have been received in hand by such
holder. Tenant further covenants that it will not assign or encumber or attempt to assign
or encumber the Security Deposit and that neither Landlord nor its successors or assigns
shall be bound by any such assignment, encumbrance, attempted assignment or attempted
encumbrance. This Section shall survive the termination of the Lease.

	20.	 	NOTICE

	 	 	Any notice from Landlord to Tenant relating to the Premises or to the occupancy thereof or
otherwise relating to this Lease, shall be deemed duly served if mailed by registered or
certified mail, return receipt requested, postage prepaid, or sent by recognized overnight
delivery service addressed to Tenant at the address first set forth above prior to the Term
Commencement Date and to the Premises after the Term Commencement Date to the attention of
Robert S. Brown, Chief Financial Officer and Winifred L. Swan, Esquire, Senior Vice
President and General Counsel, and Landlord will send a copy of such notices sent to Tenant
pursuant to Section 18 (“Section 18 Tenant Notices”) to Russell N. Stein, Esquire, Ruberto,
Israel & Weiner, P.C., 255 State Street, 7th Floor, Boston, MA 02109, (“Tenant’s
Counsel”); provided however, failure to send Section 18 Notices to Tenant’s Counsel shall
not affect in any manner the effectiveness and binding nature of Section 18 Tenant Notices.
Any notice from Tenant to Landlord relating to the Premises or to the occupancy thereof or
otherwise relating to this Lease, shall be deemed duly served if mailed to Landlord by
registered or certified mail, return receipt requested, postage prepaid, or sent by
recognized overnight delivery service addressed to Landlord at the address first set forth
above or at such address as Landlord may from time to time advise in writing, and Tenant
will send a copy of such notices sent to Landlord pursuant to Section 18 (“Section 18
Landlord Notices”) to Alan G. Lampert, Esq., Lampert, Hausler & Rodman, P.C., 10 North Road,
Chelmsford, MA 01824 (“Landlord’s

-22-

 

	 	 	Counsel”); provided however, failure to send Section 18 Landlord Notices to Landlord’s
Counsel shall not affect in any manner the effectiveness and binding nature of the Section
18 Landlord Notices. All rent shall be paid to Landlord and notices and rent shall be sent
to Landlord at the address for Landlord in the first paragraph of this Lease until notice is
sent to Tenant to the contrary. Landlord or Tenant may from time to time by written notice
delivered to the other designate an alternate address for the delivery of notices.

	21.	 	EXPIRATION AND SURRENDER

	 	 	Tenant shall at the expiration or other termination of this Lease surrender and yield up the
Premises and remove all Tenant’s goods and effects from the Premises (including, without
hereby limiting the generality of the foregoing, all personal property and trade fixtures
and all signs and lettering affixed or painted by Tenant, either inside or outside the
Premises which Tenant elects, in its sole discretion to remove) and shall not be responsible
to repair any damage to the Premises caused by such removal, unless such damage is caused by
the willful misconduct of Tenant or its agents. Tenant shall deliver to Landlord the
Premises and all keys, locks thereto, and other fixtures connected therewith and all
alterations and additions made to or upon the Premises, all of which shall be in good
condition, reasonable wear and damage by fire or other casualty only excepted. In the event
of Tenant’s failure to remove any of Tenant’s property from the Premises promptly upon
expiration or termination of the Lease (but not including those improvements and/or fixtures
which in Tenant’s sole discretion it elects to leave at the Premises), Landlord is hereby
authorized, without liability to Landlord for loss or damage thereto, and at the sole risk
of Tenant, to remove and store any of the property at Tenant’s expense, or to retain same
under Landlord’s control or to sell at public or private sale, without notice, any or all of
the property not so removed by Tenant and to apply the net proceeds of such sale to the
payment of any sum due thereunder, or to discard or destroy such property, without liability
or accounting to Tenant.

	22.	 	BROKERAGE

	 	 	Landlord and Tenant each represent to the other that the only broker involved in this Lease
or the transaction contemplated hereby is FHO Partners and Landlord and Tenant each agree to
indemnify the other from and against all loss, cost and expense arising out of a breach of
the foregoing representation. Landlord agrees to compensate F.H.O. Partners in accordance
with a separate agreement between them.

	23.	 	LANDLORD LIABILITY AND DEFAULT

	 	 	The obligations of the Landlord hereunder shall be binding upon Landlord and each succeeding
owner of the Landlord’s interest hereunder only during the respective period that each
succeeding owner owns the Building and Landlord and each succeeding owner shall have no
liability whatsoever for obligations which accrue prior to or after its respective period of
ownership (on the express condition that in connection with any transfer of the interest of
Landlord under this Lease, the transferor Landlord shall transfer

-23-

 

	 	 	to its successor the Security Deposit and any amounts of rent or additional rent pre-paid by
Tenant, and such successor to Landlord shall acknowledge in writing for the benefit of
Tenant receipt of the transfer of such amounts). Except as otherwise provided herein,
recourse against Landlord under or on account of this Lease shall be limited to the
Landlord’s interest in the Building; in no event may Tenant or any other party seek or
obtain recourse to or from the assets of any manager, member, beneficiary or partner of
Landlord or any employee, officer, director, shareholder, member or beneficiary of Landlord,
its manager, managing agent or their respective successors and assigns. Notwithstanding
anything to the contrary contained in this Lease, in no event shall Landlord be liable to
Tenant or any other party for indirect or consequential damages.

	 	 	Subject to the terms of Section 42 of this Lease, Landlord shall not be deemed in default
hereunder unless and until Landlord receives written notice of default and such default
continues without cure for thirty (30) days or such additional time as is required to effect
cure provided Landlord has then commenced and thereafter reasonably diligently pursues cure.
Tenant shall have the right to setoff against Base Rent and Additional Rent damages, costs
and expenses (including without limitation reasonable attorneys’ fees) it may incur as a
result of a default hereunder by Landlord. In addition, in the event of a material default
of the terms of this Lease which Landlord is not diligently attempting to cure (pursuant to
the applicable notice and cure periods set forth above), Tenant shall have the right to
terminate this Lease upon written notice to Landlord before such default has been cured
without fees, penalties or recourse by Landlord.

	24.	 	TENANT REQUEST FOR REVIEW, APPROVAL OR OTHER ACTION

	 	 	If Tenant requests Landlord’s approval or any other action by Landlord hereunder (except for
(i) any matters related to the approval of plans for Landlord’s Work or Tenant’s Work or the
additional work required for Tenant to occupy the remainder of the Premises pursuant to the
terms hereof, (ii) any matters related to building permits or other governmental approvals
needed for Landlord’s Work or Tenant’s Work or the additional work required for
Tenant to occupy the remainder of the Premises pursuant to the terms hereof, and (iii) a
request for a Landlord required action under Section 9.B. or Section 28), including, without
limitation, consent to an assignment or sublease, or any other document is requested or any
issue arises which in the reasonable opinion of Landlord requires review by Landlord’s
counsel, Tenant shall pay Landlord’s reasonable attorneys’ fees (not to exceed $2,500 per
request without Tenant’s prior written consent).

	25.	 	ENVIRONMENTAL HAZARDS

	 	 	As used in this Lease, the term “Hazardous Material” means any flammable items, explosives,
radioactive materials, hazardous or toxic substances, material or waste or related
materials, including any substances defined as or included in the definition of “hazardous
substances”, “hazardous wastes”, “infectious wastes”, “hazardous materials” or “toxic
substances” now or subsequently regulated under applicable laws pertaining to the protection
of the environment or governing the use, release, storage, generation or disposal of
Hazardous Materials, whether now existing or hereafter enacted or promulgated (“Hazardous
Materials Laws”). Tenant shall not cause or permit any

-24-

 

	 	 	Hazardous Material to be generated, produced, brought upon, used, stored, treated,
discharged, released, spilled or disposed of on, in, under or about the Premises, or any
other portion of the Building in violation of any Hazardous Materials Laws nor exacerbate
any existing condition at the Premises or other portions of the Building that causes such
condition to no longer comply with Hazardous Materials Laws. Tenant shall exonerate,
indemnify, defend and hold Landlord harmless from and against any and all actions (costs,
claims, damages, including, without limitation, punitive damages), expenses (including,
without limitation, attorneys’, consultants’ and experts’ fees), fines, forfeitures or other
civil, administrative or criminal penalties, injunctive or other relief (whether or not
based upon personal injury, property damage, or contamination of, or adverse effects upon,
the environment), liabilities or losses arising from a breach of this prohibition by Tenant
or those acting on Tenant’s behalf or those acting by, through or under Tenant. This
Section shall survive the expiration on earlier termination of this Lease.

	 	 	Landlord hereby represents that (i) there are no Hazardous Materials on, in, under or about
the Building or the Premises on the date hereof nor shall Landlord or anyone acting under
its control cause or allow any Hazardous Material to be generated, produced, brought upon,
used, stored, treated, discharged, released, spilled or disposed of on, in, under or about
the Premises, or any other portion of the Building, (ii) there shall be no odor or creosote
smell resulting from the age and/or condition of the Building or surrounding areas under
Landlord’s control during the Term, (iii) the Building and Premises are in full compliance
with all Hazardous Materials Laws on the date hereof, and (iv) Landlord has provided Tenant
all environmental information and reports pertaining to the Building, site and all other
Riverwalk properties owned by the Landlord and has removed from the site the materials
identified in the letter dated May 5, 2011 from GZA Geoenvironmental, Inc. Landlord shall
exonerate, indemnify, defend and hold Tenant harmless from and against any and all actions
(costs, claims, damages, including, without limitation, punitive damages), expenses
(including, without limitation, attorneys’, consultants’ and experts’ fees), fines,
forfeitures or other civil, administrative or criminal penalties, injunctive or other relief
(whether or not based upon personal injury, property damage, or contamination of, or adverse
effects upon, the environment), liabilities or losses arising from a breach of the foregoing
representation by Landlord or those acting on Landlord’s behalf or those acting by, through
or under Landlord. This Section shall survive the expiration on earlier termination of this
Lease.

	26.	 	SIGNAGE

	 	 	Landlord, at Landlord’s expense, shall provide to Tenant commercially reasonable signage in
the Building lobby, on all monuments and at the main entrance to the Premises. Tenant, at
its sole cost and expense, shall have the exclusive right to install signage on the exterior
of the Building, subject to Landlord’s approval which shall not be unreasonably withheld,
delayed or conditioned and subject to the City of Lawrence signage regulations. Landlord
acknowledges and agrees that Tenant will require that signage be affixed to the exterior of
the Building facing Merrimack Street and also facing I-495.

-25-

 

	27.	 	HOLDOVER

	 	 	If, without Landlord’s prior written consent, Tenant retains possession of the Premises or
any part thereof after the termination of this Lease (which, as used herein, shall mean
termination by lapse of time or otherwise) such holding over shall not create any tenancy,
with Tenant being only an unauthorized licensee, and Tenant shall pay Landlord the Base Rent
and Additional Rent, at one hundred fifty percent (150%) of the sum of the Base Rent and
Additional Rent payable for the month immediately preceding said holding over, computed on a
per month basis, for each month or part thereof (without reduction for any such partial
month) that Tenant remains in possession, and in addition thereto, Tenant shall pay Landlord
all direct damages sustained by reason of Tenant’s retention of possession. Tenant
acknowledges that the foregoing determination of holdover rent is not a penalty, but a fair
estimation now available binding upon Tenant of the rental value during the holdover period.

	28.	 	CAPITAL, STRUCTURAL AND MECHANICAL ELEMENTS, WARRANTY

	 	 	Landlord warrants that the foundation, roof, exterior walls and all structural elements of
the Building shall be delivered in good working order upon the Term Commencement Date and
have a useful life of at least the length of the initial Lease Term. All Building HVAC,
elevators, mechanical, electrical, lighting, plumbing, life safety systems and utility lines
serving the Premises shall be delivered in good working order and have a useful life of at
least the length of the initial Lease Term. Should any of these capital items need repair
or replacement during the Lease Term, Landlord, at its sole cost and expense, shall be
responsible for such repair or replacement and no such cost will be passed on to Tenant.
Landlord warrants the materials and workmanship used in the Tenant Improvements made by or
on behalf of Landlord for one (1) year from the Term Commencement Date (except for latent
defects which Landlord agrees that it shall be responsible to repair during the Term) and
Landlord, at is sole cost and expense, shall be responsible for the repair or replacement of
the foregoing and no such cost will be passed on to Tenant.

	29.	 	CODE COMPLIANCE AND LIFE SAFETY

	 	 	Upon the Term Commencement Date and throughout the Lease Term, Landlord, at its sole cost
and expense, shall be responsible for placing and keeping the Building, the Premises and all
Building systems (including, but not limited to fire, life safety, security, elevators,
etc.) in compliance with all governmental regulations, codes, rules or laws.

	30.	 	DELAY IN TENANT ACCESS DATE & APRIL 1, 2012

	 	 	In the event Landlord shall not substantially complete the Tenant Improvements on or before
the Tenant Access Date (as defined herein) such that Tenant cannot perform the work
contemplated by Section 43 below, and such delay is not as a result of riot, strike,

-26-

 

	 	 	inability to procure materials or Tenant delay, but is a result solely of Landlord delay,
Tenant shall be entitled to two (2) days credit of Base Rent for each said day of delay.

	 	 	If Landlord does not substantially complete the Tenant Improvements on or before April 1,
2012 such that Tenant cannot perform the work contemplated by Section 43 below, Tenant shall
(i) have the right to terminate the Lease, without fees, penalties or recourse by Landlord,
for a period of fifteen (15) days from such date upon written notice to Landlord which
written notice must be given before such breach is cured, or (ii) require Landlord to
reimburse Tenant for all holdover rent or other charges paid by Tenant pursuant to its
current lease and pay for all reasonable attorneys’ fees incurred by Tenant.

	 	 	Tenant acknowledges that a Certificate of Occupancy will not be required for Landlord to
meet the requirements of this section.

	31.	 	CONSTRUCTION FUNDS

	 	 	Landlord agrees to provide to Tenant such documents as Tenant may reasonably require to show
that Landlord has commitments for funds to be used to pay for the Landlord’s construction
obligations as set forth in this Lease, including, but not limited to, the Base Building,
Tenant Improvements (including the TIA) and brokerage fees (“Landlord’s Obligations”).
Landlord shall obtain Tenant’s prior written consent before drawing on its financing
facilities to the extent such amounts will reduce the TIA available to Tenant. In addition,
Salvatore N. Lupoli shall guaranty the Landlord’s Obligations pursuant to the Guaranty
attached hereto as Exhibit G.

	32.	 	LOADING

	 	 	During the Lease Term or any Renewal Term, Tenant shall have exclusive access to one (1)
tailboard loading dock at no cost or expense to Tenant. When Tenant is not the only tenant
in the Building, Tenant shall have shared access to said loading dock in accordance with the
plan attached hereto as Exhibit H.

	33.	 	PURCHASE OPTION

	 	 	In the event that Landlord elects to sell the Building as a single asset (i.e. not as a part
of a larger portfolio sale of buildings or assets), Tenant shall have a one-time right of
first offer to purchase the Building before Landlord proceeds to offer the Building to a
broader marketplace of prospective purchasers.

	 	 	The purchase price will reflect fair market value. In the event Tenant and Landlord cannot
agree on a purchase price after negotiating in good faith for a period not longer than 60
days, Landlord shall be free to sell the Building to a third party and have no obligation to
reoffer the Building to Tenant so long as Landlord sells the Building within nine (9) months
of the date of Tenant’s initial offer to Landlord and the price that Landlord sells the
Building for is not less than 100% of the last amount offered by Tenant to purchase the
Building. In the event the Landlord wishes to sell the Building to a third party for less
than 100% of the last amount offered by Tenant or does not close on

-27-

 

	 	 	a sale within said nine (9) month period, it shall first reoffer the Building for purchase
to Tenant at said amount.

	 	 	The above right of first offer shall also be applicable in the event of a foreclosure of
mortgage or any deed in lieu of a foreclosure.

	34.	 	RENEWAL OPTION

	 	 	Landlord hereby grants to Tenant two (2), five (5) year options to extend this Lease (each a
“Renewal Term”). Tenant must exercise each option to extend not later than twelve (12)
months prior to the expiration of the initial term or extended term hereof by notice in
writing to Landlord.

	 	 	All terms and provisions of this Lease shall be applicable to each extended term except Base
Rent which shall be ninety-five percent (95%) of fair market value (“FMV” or “Fair Market
Value”) on the date such extension shall begin. For purposes hereof, the “FMV” or “Fair
Market Value” of the Premises shall mean the fair rental value thereof that would be agreed
upon between a landlord and a tenant executing a lease with respect to comparable space in a
comparable building located in Lawrence, Massachusetts for a comparable term, with
comparable concessions and other incentives being offered in the market at the time and upon
all of the other business terms of this Lease assuming the following:

	 	(i)	 	the landlord and tenant are well informed and well advised
and each is acting in what it considers to be its own best interests;

	 	(ii)	 	the rental value shall reflect the condition of the
Premises and all residual value of any improvements to the Premises; and

	 	(iii)	 	the transaction takes into consideration the Additional
Rent to be paid by the Tenant and all applicable brokerage commissions.

	 	 	Landlord shall provide Tenant with its determination of FMV within sixty (60) days after the
date that Tenant exercises a Renewal Term. In the event that Tenant disputes the amount
claimed by Landlord as Fair Market Value pursuant to this Section 34 and such dispute cannot
be resolved by mutual agreement, Tenant shall have the right to submit the dispute to the
appraisal process hereinafter set forth. The amount of Fair Market Value determined
pursuant to such appraisal process shall be final and binding between the parties. The
appraisal process shall be conducted as follows:

     (a) Tenant shall make demand for appraisal in writing within thirty (30) business
days after service of Landlord’s determination of Fair Market Value given under this Section
34 specifying therein the name and address of the person to act as the appraiser on Tenant’s
behalf. The appraiser shall be a real estate appraiser with at least ten years’ experience
in the field and a qualified member of the American Institute of Real Estate Appraisers, or
any successor of such Institute (or if such organization or

-28-

 

	 	 	successor shall not longer be in existence, a recognized national association or
institute of land appraisers) familiar with the fair market rent of comparable space to the
Premises in Lawrence, Massachusetts. Failure on the part of Tenant to make a timely and
proper demand for such appraisal shall constitute a waiver of the right thereto. Within ten
(10) business days after the service of the demand for appraisal, Landlord shall give notice
to Tenant, specifying the name and address of the person designated by Landlord to act as
appraiser on its behalf who shall be similarly qualified. If Landlord fails to notify
Tenant of the appointment of its appraiser within or by the time above specified, Landlord’s
failure to do so shall constitute a waiver of the right thereto and Tenant’s appraiser shall
determine the Fair Market Value.

     (b) In the event that two appraisers are chosen pursuant to paragraph (a) above,
the appraisers so chosen shall meet within ten (10) business days after the second appraiser
is appointed and, if within ten (10) business days after such first meeting the two
appraisers shall be unable to agree upon a determination of Fair Market Value, they shall
appoint a third appraiser, who shall be a competent and impartial person with the same
minimum qualifications and experience as is required of the first two appraisers. The three
appraisers shall decide the dispute, if it has not previously been resolved, by following
the procedure set forth below:

	 	 	Where the issue cannot be resolved by agreement of the two appraisers selected by
Landlord and Tenant or settlement between the parties during the course of the
appraisal process, the issue shall be resolved by the three appraisers in accordance
with the following procedure. Within twenty (20) days after the third appraiser has
been selected, each appraiser shall state in writing such appraiser’s determination
of the Fair Market Value, supported by the reasons therefore, with counterpart
copies to each party. The appraisers shall arrange for a simultaneous exchange of
such proposed determinations. The Fair Market Value shall be the average of the
three appraisals.

     (c) All such determinations of Fair Market Value shall be final and binding upon
the parties. Landlord and Tenant shall each pay for the fees and disbursements of any
appraiser appointed by it and shall share equally in the fees and expenses of any third
appraiser.

	 	 	In the event that Tenant exercises its option for the first Renewal Term, Landlord shall
have the right, within thirty (30) days after the date of Tenant’s renewal election notice,
to have the Premises and the Building remeasured by its architect based on the then current
BOMA standards. Landlord shall provide Tenant with its calculation of RSF for the Premises
and Building for the entire Renewal Term on or before the expiration of such thirty (30) day
period (failing which, the existing RSF for the Premises and Building shall remain in place
for the Renewal Term). If Tenant reasonably determines that such new measurement is in
excess of the actual RSF, it shall have thirty (30) days after its receipt of same to revoke
its election to exercise the first Renewal Term (and if Tenant fails to give such notice,
the new measurements shall govern for the Renewal Term).

-29-

 

	 	 	To the extent that Tenant exercises a Renewal Term, the definition of Term in this Lease
shall include such Renewal Term.

	35.	 	RIGHT OF FIRST OFFER — 320 RIVERWALK

	 	 	Tenant shall have an on-going Right of First Offer on the land and potential future
development of the site with frontage on the Merrimack River, known as 320 Riverwalk (“320
Riverwalk”). Prior to submitting a lease proposal to a third party who has expressed bona
fide and good faith interest in 320 Riverwalk, Landlord shall first offer 320 Riverwalk to
Tenant. Such offer shall be in writing, specifying the commencement date, lease term,
Landlord’s proposal for the prevailing fair market rental rate, the square footage of the
space and its location, allowances, concessions, extension and renewal rights and all other
material terms and conditions which are proposed to apply to the space. Tenant shall notify
the Landlord in writing within thirty (30) days if Tenant elects to lease the space on the
terms of the offer as presented. If Tenant does not accept the terms or respond in the
appropriate time period, then Landlord shall be free and clear to lease to the third party
subject to the terms of this Section 35.

	 	 	If after negotiations with such third party, Landlord desires to lease such space on
economic terms more favorable, or that are less than 100% of the net economic terms offered
to Tenant, then Landlord will notify Tenant, which notice shall include all material terms
and conditions of Landlord’s proposed lease to such third party, and Tenant will notify
Landlord within five (5) business days of Landlord’s notice if Tenant wishes to lease such
space from Landlord on the terms and conditions so specified. If Tenant fails to notify
Landlord within said five (5) business day period that Tenant intends to lease such space,
then Landlord shall be entitled to lease the space to such third party on the terms and
conditions set forth in Landlord’s notice to Tenant. If Landlord does not enter a fully
executed lease for the space with the third party within ninety (90) days after Landlord’s
original offer or second and amended offer to Tenant, as the case may be, then Tenant’s
Right of First Offer as set forth in this paragraph shall be reinstated.

	36.	 	[**]

	 	 	Tenant will have an on-going Right of First Refusal on the remaining 15,000 RSF (the
“Space”) at the [**] and to be located [**]. Prior to submitting or accepting a letter of
intent to or from a third party or third parties reflecting terms and conditions that the
Landlord is willing to accept for part or all of the Space, Landlord will offer, in writing,
part or all of the Space (as the case may be based on such letter of intent) to Tenant
under those same terms and conditions. Tenant shall notify the Landlord in writing within
ten (10) business days if Tenant elects to lease the Space on the terms of the offer as
presented. If Tenant does not accept the terms or respond in the appropriate time period,
then Landlord shall be free and clear to lease to third parties on terms no more favorable
as provided to Tenant (otherwise, Landlord must again offer such new terms to Tenant as
provided in this Section 36.). If Landlord does not enter into a fully executed lease for
the Space with the third party within ninety (90) days after Landlord’s offer to Tenant (as

-30-

 

	 	 	amended with more favorable terms, if applicable), then Tenant’s rights in this Section 36
shall be reinstated.

	37.	 	FITNESS/CONFERENCE CENTER

	 	 	Upon the Term Commencement Date, Tenant will have full access to an on-site fitness center
during the hours of not less than 5:00 a.m. until 8:00 p.m. Monday through Friday and to be
located within the Riverwalk complex. The fitness center will be approximately 2500 square
feet with flat screen TV’s, cardio machines, resistance training machines, free weights
and full men’s and women’s locker rooms with showers. Employees of Tenant will pay a
reduced fee for use of the fitness center which will be further defined in this Lease or by
separate agreement between Landlord and Tenant. The Tenant will also have the ability to
use the conference center located at 354 Merrimack Street. The scheduling and cost for the
use of the conference center will be arranged by Tenant with the company managing the
conference center; provided that Landlord shall not charge (or allow such company managing
the conference center to charge) Tenant more than other tenants in the Riverwalk complex are
charged for such conference center.

	38.	 	FOOD SERVICE

	 	 	Upon the Term Commencement Date and through the entire Term, the Riverwalk complex will have
two primary food service options: 1) 354 Merrimack Street currently has Salvatore’s
Restaurant and 2) within the Riverwalk complex will have additional food service offering
breakfast and lunch. Landlord will be required to maintain comparable food service within
both buildings or within the Riverwalk complex throughout the Lease Term and any Renewal
Options. It is understood that the food service will offer hot and cold meals and be open,
at a minimum, for breakfast and lunch during Normal Business Hours, Monday through Friday.
Final details and specifications on the scope of the food service will be mutually agreed
upon between Landlord and Tenant. Landlord shall cause Salvatore’s Restaurant to provide a
10% discount to (i) Tenant’s employees with proper NxStage Medical, Inc. identification
during Normal Business Hours, and (ii) the Tenant for all catering provided to Tenant by
Salvatore’s Restaurant. Such discount shall exclude alcoholic beverages.

39.  CONSTRUCTION AND PLANS & SPECS.

	 	 	Landlord and Tenant have agreed in Section 10(A) on a mutually satisfactory schedule for all
Tenant plans necessary in order to allow Landlord sufficient time to put the plans out for
bid, leaving time for value engineering or re-pricing and further allowing Landlord
reasonable time to meet the Tenant Access Date and Term Commencement Date.

	 	 	Landlord and Tenant have agreed upon a Construction Schedule with dates for completion of
critical preparation and construction and such Construction Schedule is set forth on Exhibit
I and shall be binding upon the parties hereto. In the event that Landlord does not meet a
date set forth on Exhibit I which failure is not caused by Tenant

-31-

 

	 	 	(including Tenant’s architect not meeting the dates set forth in Section 10) and which is
not cured within sixty (60) days after written notice from Tenant (for the first breach and
thirty (30) days thereafter), Tenant shall have the right to terminate this Lease upon
written notice to Landlord given before such breach is cured without fees, penalties or
recourse by Landlord.

	40.	 	PARKING

	 	 	All parking spaces are provided to Tenant under this Lease as a part of the common area of
the Building and there is no rent is due from Tenant to Landlord for the use of parking
spaces. Exhibit J contains a parking plan for purposes of this Lease.

	 	 	Landlord shall designate ten (10) reserved and eleven (11) visitor parking spaces for
exclusive use by Tenant in the front of the Building shown as 21 spaces on Exhibit J.

	 	 	In addition, the parking field adjacent to the Building showing 270 spaces on Exhibit J
shall be available for Tenant’s exclusive use for parking. Landlord and Tenant shall agree
upon marking and signage designating the 291 spaces as exclusive to Tenant’s use. In the
event that Tenant determines that its employees, customers or other invitees are having
difficulty with parking in the open parking fields, it shall notify Landlord and Landlord
shall promptly take such steps as are required to remedy the problem including without
limitation, providing a security guard, erecting barriers limiting access points to the
parking area or engaging the services of a qualified traffic and parking field engineer to
make recommendations for alleviating any parking issues. Landlord agrees that it will
review the recommendation of said engineer with Tenant and Landlord shall immediately take
appropriate action to alleviate the parking issues for Tenant’s employees, customers or
other invitees and comply with its obligations under this Section 40 to provide the parking
spaces as set forth on Exhibit J for Tenant’s exclusive use.

	 	 	Landlord shall provide an additional 100 exclusive use parking spaces for Tenant upon the
first take-down of additional Premises and 109 exclusive use parking spaces upon Tenant’s
second take-down of additional Premises in a location contiguous with the spaces described
above and which is depicted on Exhibit J.

	 	 	Landlord agrees that the width of each parking space it is obligated to provide hereunder
(measured from the center of the line) shall be at least 9 feet 4 inches in width and 18
feet in length.

	 	 	After the Term Commencement Date, Landlord shall not undertake any construction at the
Riverwalk complex which causes Tenant to lose or need to relocate any parking spaces as
specifically provided on Exhibit J without the mutual agreement of the parties hereto acting
reasonably; provided that the parking spaces designated in green on the parking plan may not
be relocated or otherwise impacted in any manner without Tenant’s written consent which may
be withheld in its sole discretion. Landlord agrees that the parking area shall allow for
Tenant’s delivery vehicles (including so-called 18 wheeler vehicles) to have adequate access
to and from and use of the loading dock at the Building (and the area at which the loading
dock is located).

-32-

 

	41.	 	ROOF RIGHTS

	 	 	Tenant shall have the right to install and maintain at its cost and expense microwave
dishes, antennae, and/or other communications devices on the roof of the Building for
business purposes at a technologically efficient location, subject to Landlord’s approval
which shall not be unreasonably withheld, delayed or conditioned, and all applicable
municipal regulations. Tenant will not be required to pay rent. Tenant must maintain any
structure or device it places on the roof and repair any damage to or penetration of the
roof caused by the installation of any such structure or device. If Landlord is required
for any reason to move such structure or device, Tenant will, at its cost and expense,
relocate such structure or device to a place mutually agreed upon by Landlord and Tenant.

	42.	 	SELF HELP

	 	 	In the event Landlord shall not fulfill its obligations for repairs and maintenance of the
Premises as set forth in this Lease and, further, within ten (10) days after written notice
from Tenant specifying the necessary repairs and maintenance required does not begin
diligently to complete such necessary repairs and maintenance, Tenant may, at its option,
make said necessary repairs and maintenance. Landlord shall reimburse Tenant for its costs
of making such repairs and maintenance within thirty (30) days after Tenant submits the
costs to Landlord. If Landlord does not reimburse Tenant within said thirty (30) day
period, Tenant shall have the right to deduct such costs from Base Rent until such costs are
recovered in full or if no further Base Rent is due hereunder, seek the recovery of such
costs directly against Landlord. This limited right of offset against Base Rent as set forth
in this Section shall not create in Tenant any other rights of offset under this Lease
except as specifically provided herein.

	43.	 	TENANT ACCESS DATE

	 	 	Landlord agrees that the Premises will be substantially completed at least sixty (60) days
prior to the Term Commencement Date (such date is referred to herein as the “Tenant Access
Date”) in order that Tenant will have access to the Premises for the installation and set-up
of its furniture, fixtures and equipment. The terms of this Lease shall apply to Tenant on
and after the Tenant Access Date except that Base Rent, Additional Rent and utilities shall
not be payable by Tenant until the Rent Commencement Date as provided in this Lease.

	 	 	Tenant acknowledges that a Certificate of Occupancy will not be required for Landlord to
meet the requirements of this section.

	44.	 	TERMINATION OF TENANCY

	 	 	Tenant shall have the option to terminate this Lease (“Termination Option”) at any time
after the end of the seventh (7th) year beyond the Term Commencement Date
pursuant to the terms of this Section 44.

-33-

 

	 	 	Tenant must provide written notice to Landlord not less than twelve (12) months prior to the
date specified in said written notice for termination. In the event Tenant shall exercise
this option to terminate, Tenant shall pay to Landlord the sum of the unamortized portion of
the Tenant Improvement Allowance which had been expended by Landlord and the brokerage
commission payable hereunder plus three (3) months Base Rent as of the effective date of
termination. Tenant shall pay all sums due under this Section not later than thirty (30)
days prior to the effective date of termination.

	 	 	The Tenant Improvement Allowance and brokerage commission will be amortized on a straight
line basis over eleven (11) years from the Rent Commencement Date at 7% interest per annum
assuming equal, consecutive monthly payments. The unamortized portion of the Tenant
Improvement Allowance and brokerage commission will be the unamortized amount of principal
as set forth on the amortization schedule, attached to this Lease as Exhibit K (the “Section
44 Amortization Schedule”) (assuming the TIA shall have been fully utilized and if
not, such schedule shall be recalculated with the actual TIA used), based on the effective
date of the termination. Notwithstanding the foregoing, in the event that the adjacent
buildings of the Riverwalk complex are not maintained or developed in a manner consistent
with the present standard of the current Riverwalk Complex and same has a material adverse
impact on Tenant’s use or enjoyment of the Premises (including without limitation the safety
thereof), Tenant shall have the right to terminate this Lease upon six (6) months notice to
Landlord without fees, penalties or recourse by Landlord.

	 	 	In the event that Tenant does not terminate the Lease upon the expiration of the seventh
year from the Term Commencement Date as provided herein, the RSF of the Premises and the
Building for all purposes under this Lease shall thereafter increase to 141,200 RSF. The
foregoing shall not in any manner effect Tenant’s ability to exercise the Termination Option
as provided herein.

	45.	 	TRAFFIC LIGHT/POLICE DETAIL

	 	 	Upon Tenant’s request, Landlord shall use commercially reasonable efforts to install or have
installed a traffic light at the main entrance to the so-called Riverwalk complex adjacent
to the Building and the Premises.

	 	 	At all times during the Term, Tenant may, at its option, require Landlord to provide a
police traffic detail during the peak traffic hours of 4:00 p.m. through 6:00 p.m., Monday
through Friday. The costs of such traffic detail shall be allocated between the Riverwalk
complex and the Operating Expenses under this Lease based on the RSF of the Premises then
being occupied by Tenant and the RSF of the Riverwalk complex (which currently comprises
832,426 RSF).

	46.	 	OTHER PROVISIONS

	 	A.	 	Tenant shall place all trash in the trash collection area outside of the
Building designated by Landlord.

-34-

 

	 	B.	 	Not more often than once per calendar year during the Term, within ten (10)
business days after request by Landlord, Tenant will promptly complete an estoppel
letter in a form reasonably requested by Landlord to confirm the status of this Lease.
Failure of Tenant to timely sign and complete the required estoppel shall, at
Landlord’s election, be a default under this Lease subject to applicable notice and
cure periods.

	 	C.	 	No other agreements or representations have been made by either party
except as expressly contained in this Lease. The submission of this document for
examination and negotiation does not constitute an offer to lease or a reservation or
an option for the Premises, and this document shall become effective and binding only
upon the execution and delivery hereof by both the Landlord and the Tenant. All
negotiations, considerations, representations and understandings between the Landlord
and the Tenant are incorporated herein and may be modified or altered only by agreement
in writing between the Landlord and Tenant, and no act or omission of any employee or
agent of the Landlord or Tenant shall alter, change or modify any of the provisions
hereof.

	 	D.	 	Recording of this Lease or a copy of this Lease shall be a default;
however, at Tenant’s request, Landlord agrees to execute and deliver Landlord’s form of
a Notice of Lease for recording at Tenant’s expense, with a copy thereof delivered
promptly by Tenant to Landlord.

	 	E.	 	The covenants and agreements of Landlord and Tenant shall be binding upon
and inure to the benefit of each of them and their respective successors and assigns.

	 	F.	 	If a dispute arises under this Lease, Landlord and Tenant shall first
promptly attempt in good faith to resolve the dispute by negotiation. If such
negotiations are unsuccessful, any disputes or claims between the parties arising out
of or relating to this Lease, or the breach hereof, not settled by negotiation, shall
be settled by arbitration conducted in accordance with the commercial arbitration rules
of the American Arbitration Association (“AAA”) in effect at that time, at a location
specified by Landlord in Massachusetts where the Premises are located. A single
arbitrator shall decide all disputes. The arbitrator shall not have been previously
employed by either Landlord or Tenant, shall have knowledge and experience in the
commercial real estate market, and shall not have a direct or indirect interest in
either Landlord or Tenant or the subject matter of the arbitration. Such arbitrator
shall be designated as mutually agreed by Landlord and Tenant within twenty (20)
business days after either party requests in a writing sent to the other party that a
dispute or claim be arbitrated. If the parties fail to select an arbitrator within such
twenty (20) day period, the arbitrator shall be selected under the expedited rules of
the AAA. The arbitrator shall issue a scheduling order that shall not be modified
except by the mutual agreement of the parties. The arbitrator shall render a decision
no later than sixty (60) days after his selection, and the arbitrator shall state in
writing the factual and legal basis for the award. Any award rendered by the arbitrator
shall be final, and judgment may be entered upon it in accordance with applicable law
in any court having jurisdiction thereof. The

-35-

 

	 	 	 	prevailing party in any dispute hereunder shall be entitled to the recovery of its
reasonable attorneys’ fees and expenses from the other party.

	 	G.	 	If Tenant is more than one person or party, Tenant’s obligations shall be
joint and several. Unless repugnant to the context, the term, “Landlord” and “Tenant”
mean the parties named above as Landlord and Tenant respectively, together with their,
as applicable, respective, legal representatives, successors and assigns, subject to
Landlord’s consent to any Tenant assignment as set forth herein where required.

	 	H.	 	Tenant represents and warrants that Tenant is duly organized and in good
standing as a corporation under the laws of Delaware and has registered as a foreign
corporation in Massachusetts and is qualified to do business in the Commonwealth of
Massachusetts. Landlord and Tenant represent that the person or persons executing this
Lease on behalf of Landlord and Tenant, respectively, have full right, power and
authority to execute and deliver this Lease, and upon such execution and delivery, this
Lease shall be binding upon Landlord and Tenant.

	 	I.	 	The headings herein contained are for convenience and shall not be
construed a part of this Lease.

	 	J.	 	This Lease shall be construed under and be governed by with the laws of the
Commonwealth of Massachusetts.

	 	K.	 	If any provision of this Lease shall to any extent be invalid, the
remainder of this Lease shall not be affected. The enumeration of specific examples of
a general provision shall not be construed as a limitation of the general provision.
This Lease is executed as a sealed instrument and in multiple counterparts, all copies
of which are identical, and any one of which is to be deemed to be complete in itself
and may be introduced in evidence or used for any purpose without the production of any
other copy. Time is of the essence of the obligations of the parties to be performed
within a specific time frame in this Lease.

	 	L.	 	Tenant is responsible for the security of all keys provided to Tenant for
access to the Building; in furtherance thereof, Tenant shall be responsible for the
immediate return of all keys to Tenant from employees who leave Tenant upon each such
employee’s cessation of employment. At the end of the Term, Tenant shall return to
Landlord all keys.

	 	M.	 	Landlord represents that the Building and Premises shall not contain any
hazardous or toxic materials on the Term Commencement Date. Landlord warrants that
there will not exist an odor or creosote smell at the Building.

	 	N.	 	Tenant acknowledges that the Building may be occupied by other tenants. To
minimize disturbances in the Building, (a) if and to the extent Tenant requires access
through a common entrance shared with other tenants of the Building, and (b) except for
the period of the construction of Landlord’s Work and Tenant’s Work at the start of the
term (when no prior notice for access will be required) then Tenant agrees to provide
Landlord with one (1) business day advance notice

-36-

 

	 	 	 	prior to Tenant moving its furniture, fixtures and equipment and other personal
property necessary to open Tenant’s business into the Premises, any subsequent
removal and delivery of additional furniture, fixtures, equipment and other personal
property to the Premises during the Term and at the end of the Term (pursuant to
this Section and the other requirements of this Lease). In connection with such
work, Tenant agrees to take all reasonable steps requested by Landlord to prevent
damage to the Building including, without limitation, use of padding in the
elevator, and, in connection therewith, to pay Landlord all of its costs and
expenses related to such damage ten (10) days after billing.

	 	O.	 	Neither party shall be deemed to have: waived, obligated itself to defer,
consented to or granted any postponement to or for the other party’s performance of its
obligations under this Lease, unless and until an agreement in writing for such waiver,
deferral, consent or postponement has been signed by such party. Further, no
postponement or delay by a party hereto in pursuing collection and/or enforcement of
the other party’s obligations under this Lease shall excuse the other party’s
subsequent and/or continuing responsibility therefor, whether with respect to prior,
then current or future such obligations. No modification or amendment to this Lease
shall be valid or binding unless and until in writing and signed by the party against
whom enforcement thereof may be sought.

	 	P.	 	No payment by the Tenant or acceptance by the Landlord of a lesser amount
than shall be due the Landlord from the Tenant shall be deemed to be anything but
payment on account, and the acceptance by the Landlord of a check for a lesser amount
with an endorsement or statement thereon, or upon a letter accompanying said check,
that said lesser amount is payment in full shall not be deemed an accord and
satisfaction, and the Landlord may accept said check without prejudice to recover the
balance due or pursue any other remedy.

	 	Q.	 	Tenant represents and warrants that it is not listed, nor is it owned or
controlled by, or acting for or on behalf of any person or entity, on the list of
Specially Designated Nationals and Blocked Persons maintained by the Office of Foreign
Assets Control of the United States Department of the Treasury, or any other list of
persons or entities with whom Landlord is restricted from doing business (“OFAC List”).
Notwithstanding anything to the contrary herein contained, Tenant shall not permit the
Premises or any portion thereof to be used, occupied or operated by or for the benefit
of any person or entity that is on the OFAC List. Tenant shall provide documentary and
other evidence of Tenant’s identity and ownership as may be reasonably requested by
Landlord at any time to enable Landlord to verify Tenant’s identity or to comply with
any applicable legal requirement.

	 	R.	 	Both parties covenant and agree to keep the rental rate(s), the identity of
the parties, the Term and other financial and business terms, and the form of this
Lease (“Confidential Information”) completely confidential; provided, however, that (i)
such Confidential Information may be disclosed by such parties to those of its
officers, employees, attorneys, accountants, lenders and financial advisors who need to
know such information in connection with the use and occupancy of the

-37-

 

	 	 	 	Premises and for financial reporting and credit related activities (it being
understood that each party shall inform its representatives of the confidential
nature of the Confidential Information and that such representatives shall be
directed by each party, and shall each expressly agree, to treat such Confidential
Information confidentially in accordance with the terms of this Section), and (ii)
unless required by applicable law or regulation (including without limitation
Tenant’s SEC reporting obligations) or pursuant to court order (in which cases
disclosure may be made to the extent required), any other disclosure of such
Confidential Information may only be made if the other party consents in writing
prior to any such disclosure.

	 	S.	 	All inventory, equipment, goods, merchandise, furniture, fixtures and
property of every kind which may be on or about the Premises shall be at the sole risk
and hazard of Tenant, and if the whole or any part thereof shall be destroyed or
damaged by fire, water or otherwise, or by the use or abuse of water or by the leaking
or bursting of water pipes, or by rising water, or by roof or other structural leak, or
in any other way or manner, no part of such loss or damage shall be charged to or borne
by Landlord in any case whatsoever, except that the foregoing shall not exculpate the
Landlord from its own negligent acts or omissions. Tenant agrees to maintain full and
adequate insurance coverage on all of its property at the Premises, and such insurance
on Tenant’s property shall contain a waiver of subrogation clause in favor of Landlord,
or shall name Landlord as an additional insured for the sole purpose of preventing a
subrogation claim against Landlord.

	 	T.	 	Emergency Back-Up Systems: Tenant shall have the right to install and
maintain additional equipment on the roof, ground level or such space deemed by Tenant
to be convenient for maintenance and access to such equipment not within the Premises,
without the payment of rent, subject to Landlord’s approval which shall not be
unreasonably withheld, delayed or conditioned, and all applicable municipal
regulations.

	 	U.	 	[**]: Landlord will not lease space at the Riverwalk complex to [**].

	 	V.	 	Consent: In all cases when a party’s consent or approval is required
pursuant to the Lease, consent shall not be unreasonably withheld, delayed or
conditioned.

[Remainder of page intentionally left blank]

-38-

 

     Executed under seal as of June 22, 2011.

	 	 	 	 	 	 	 

	 
	LANDLORD:	 	TENANT:
	 
	350 RIVERWALK, LLC	 	NXSTAGE MEDICAL, INC.
	 
	By: 	/s/ Salvatore N. Lupoli	 	By: 	/s/ Jeffrey H. Burbank
	 	Print Name:  Salvatore N. Lupoli	 	 	Print Name:  Jeffrey H. Burbank
	 	Title:	  Manager	 	 	Title:	  Chief Executive Officer
	 	Duly Authorized	 	 	Duly Authorized

-39-

 

Exhibit A

Plan of the Building

See attached.

Lobby, elevator and interconnecting bridge are to be constructed and added to Plan.

 

 

     

Exhibit A

 

 

Exhibit B

Schedule of Occupancy of Premises

     Tenant will lease and occupy the Premises according to the following schedule:

	 	 	 

	Months 1-24:

	 	89,046 RSF
(portion of 1st floor and entire 2nd, 5th, 6th & 7th floors)
	Months 25-36:

	 	104,820 RSF (entire 4th floor added)
	Months 37-60:

	 	117,570 RSF (balance of 1st floor added)
	Months 61-84:

	 	137,200 RSF (entire 3rd floor added)
	Months 85-132

	 	141,200 RSF (subject to Tenant’s Termination Option as provided in Section 44)

     Tenant shall have the right to lease and occupy additional Premises prior to the dates set
forth on this schedule from time to time in its discretion; provided that in the event Tenant
chooses to lease and occupy the 1st floor prior to the sequence outlined above Tenant
may give Landlord twelve (12) months prior written notice of same and such notice may be given only
after the first Lease Year.

 

 

Exhibit C

Operating Expenses

Tenant will pay its Pro-Rata Share of any increases in Operating Expenses over the Operating
Expenses Base Year, which amount will be grossed-up to reflect a one-hundred percent (100%)
operated and occupied Building including adjustments for any warranties in-place. Current
Operating Expenses are estimated at $3.06 RSF:

	 	 	 	 	 	 	 

	 

	 	•
	 	Insurance:
	 	$0.23 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Electric & Gas:
	 	$1.26 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Electric R&M:
	 	$0.03 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Plumbing R&M:
	 	$0.05 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	HVAC R&M:
	 	$0.07 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	General R&M:
	 	$0.12 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Elevator R&M:
	 	$0.04 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Parking Lot R&M:
	 	$0.20 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Roof R&M:
	 	$0.04 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Security:
	 	$0.22 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Trash Removal:
	 	$0.10 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Professional Fees:
	 	$0.03 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Snow Plowing:
	 	$0.19 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Water & Sewer:
	 	$0.15 RSF
	 
	 	 	 	 	 	 
	 

	 	•
	 	Management Fee:
	 	$0.33 RSF

Operating Expenses will be calculated in accordance with Generally Accepted Accounting Principles
(GAAP) and shall include all commercially reasonable expenses incurred to operate the Building.
Notwithstanding anything in the Lease including this Exhibit C to the contrary, the items listed on
Exhibit C-1 shall be excluded from the definition of Operating Expenses.

The above list of Operating Expenses is estimated only. Actual Operating Expenses will be
determined during the calendar year 2012 as set forth in this Lease for the Operating Expense Base
Year. It may be that certain Operating Expenses cannot be calculated accurately during the
Operating Expense Base Year, which is less than one full year from Rent Commencement Date. Such
Operating Expenses will be calculated when available and will relate back to and adjust the
Operating Expenses for the Operating Expense Base Year. Tenant may audit such calculations
pursuant to Section 4 of the Lease.

 

 

Controllable Operating Expenses, as grossed-up, shall not increase more than 3% annually on a
cumulative basis. Controllable Operating Expenses shall mean all Operating Expenses with the
exception of utilities, insurance and snow removal.

The services to be included in Operating Expenses and extended to the Tenant by Landlord as a
standard for the Building and Premises shall include, but not be limited to, property management,
repair and maintenance of base building systems, landscaping, snow removal, window cleaning, common
area janitorial services, water and sewer, trash removal, common area security and lighting,
parking lot repair and maintenance, vertical transportation, and HVAC during Normal Business Hours
(not including HVAC distribution) and such other services as Tenant may reasonably request from
time to time during the Term.

 

 

Exhibit C-1

Operating Expense Exclusions

	1)	 	leasing commissions, fees and costs, advertising and promotional expenses and other costs
incurred in procuring tenants or in selling the Building;
	 
	2)	 	legal fees or other expenses incurred in connection with enforcing leases with tenants in the
Building;
	 
	3)	 	costs of renovating or otherwise improving or decorating space for any tenant or other
occupant of the Building, including Tenant, or relocating any tenant;
	 
	4)	 	financing costs including interest and principal amortization of debts and the costs of
providing the same;
	 
	5)	 	except as otherwise expressly provided above, depreciation;
	 
	6)	 	rental on ground leases or other underlying leases and the costs of providing the same;
	 
	7)	 	wages, bonuses and other compensation of employees above the grade of Building Manager and
fringe benefits other than insurance plans and tax qualified benefit plans;
	 
	8)	 	any liabilities, costs or expenses associated with or incurred in connection with the
removal, enclosure, encapsulation or other handling of Hazardous Materials (as defined in
Section 25 below) and the cost of defending against claims in regard to the existence or
release of Hazardous Materials at the Building (except with respect to those costs for which
Tenant is otherwise responsible pursuant to the express terms of this Lease);
	 
	9)	 	costs of any items for which Landlord is or is entitled to be paid or reimbursed by
insurance;
	 
	10)	 	increased insurance or real estate taxes assessed specifically to any tenant of the Building
for which Landlord is entitled to reimbursement from any other tenant;
	 
	11)	 	charges for electricity, water, or other utilities, services or goods and applicable taxes
for which Tenant or any other tenant, occupant, person or other party is obligated to
reimburse Landlord or to pay to third parties;

 

 

	12)	 	cost of any HVAC, janitorial or other services provided to tenants on an extra cost basis
after Normal Business Hours;
	 
	13)	 	the cost of installing, operating and maintaining any specialty service, such as a
cafeteria, observatory, broadcasting facilities, child or daycare;
	 
	14)	 	cost of correcting defects in the design, construction or equipment of, or latent defects in,
the Building;
	 
	15)	 	cost of any work or service performed on an extra cost basis for any tenant in the Building
to a materially greater extent or in a materially more favorable manner than furnished
generally to the tenants and other occupants;
	 
	16)	 	cost of any work or services performed for any facility other than the Building;
	 
	17)	 	any cost representing an amount paid to a person firm, corporation or other entity related to
Landlord that is in excess of the amount which would have been paid in the absence of such
relationship;
	 
	18)	 	cost of initial cleaning and rubbish removal from the Building to be performed before final
completion of the Building or Premises;
	 
	19)	 	cost of initial landscaping of the Building;
	 
	20)	 	except as expressly provided above, cost of any item that, under generally accepted
accounting principles, are properly classified as capital expenses;
	 
	21)	 	lease payments for rental equipment (other than equipment for which depreciation is properly
charged as an expense) that would constitute a capital expenditure if the equipment were
purchased;
	 
	22)	 	cost of the initial stock of tools and equipment for operation, repair and maintenance of
the Building;
	 
	23)	 	late fees or charges incurred by Landlord due to late payment of expenses, except to the
extent attributable to Tenant’s actions or inactions;
	 
	24)	 	cost of acquiring, securing, cleaning or maintaining sculptures, paintings and other works of
art;

 

 

	25)	 	real estate taxes or taxes on Landlord’s business (such as income, excess profits, franchise,
capital stock, estate, inheritance, etc.);
	 
	26)	 	direct costs or allocable costs (such as real estate taxes) associated with parking
operations if there is a separate charge to Tenant, other than tenants or the public for
parking;
	 
	27)	 	charitable or political contributions;
	 
	28)	 	reserve funds;
	 
	29)	 	all other items for which another party compensates or pays so that Landlord shall not
recover any item of cost more than once;
	 
	30)	 	any cost associated with operating as an on or off-site management office for the Building,
except to the extent included in the management fee permitted hereby;
	 
	31)	 	Landlord’s general overhead and any other expenses not directly attributable to the operation
and management of the Building (e.g. the activities of Landlord’s officers and executives or
professional development expenditures), except to the extent included in the management fee
permitted hereby;
	 
	32)	 	costs and expenses incurred in connection with compliance with or contesting or settlement of
any claimed violation of law or requirements of law, except to the extent attributable to
Tenant’s actions or inactions; and
	 
	33)	 	costs of mitigation or impact fees or subsidies (however characterized), imposed or incurred
prior to the date of the Lease or imposed or incurred solely as a result of another tenant’s
or tenants’ use of the Building or their respective premises.

 

 

Exhibit D

Term Commencement Date Utilities

Verizon, National Grid, Columbia Gas, city water and city sewer

 

 

Exhibit E

Base Building

     The Base Building shall include demolition of existing internal partitions or infrastructure,
construction of demising partitions, separate utilities or other services to be separately metered
to the Premises, new/refurbished landscaping, new roof, parking lot repair, replacement, resealing,
resurfacing and any associated irrigation costs and bringing the Building into compliance with all
applicable codes.

     Tenant reserves the right to make further comments and suggestions for the Base Building or
require additional information or changes. Tenant may, as part of the Tenant Improvement Allowance,
modify and/or upgrade certain portions of the Base Building to accommodate Tenant Improvements to
be made (with any increased cost over what was budgeted for the Base Building by Landlord to be
paid from the TIA). In the event that the parties cannot agree on the amount of such increase, Ted
Caswell shall make a binding determination of the increase (if any).

     The Base Building shall include a new Building entrance/lobby facing Merrimack Street. The
new entrance will be an expansion of the Building on the front of the existing structure and the
design shall be consistent with renderings provided to Tenant by Landlord and which are attached
hereto as Exhibit E-2.

     Landlord shall add and install an additional six (6) punched windows. The exact location will
be substantially as provided on the plan attached hereto as Exhibit E-3. Tenant shall have final
approval of the exact window location.

     Landlord shall be responsible for the removal of selected columns and subsequent support
bracing in those areas designated on Exhibit E-4 attached hereto.

     Landlord shall be responsible, at its sole cost and expense including any architectural and
engineering, to construct an interconnecting bridge and/or connection between 354 Merrimack Street
and the Building substantially as depicted on Exhibit E-5 attached hereto. The specifications shall
be further defined and mutually agreed upon between Tenant and Landlord.

     Landlord shall be responsible for exterior site improvements such as, but not limited to,
green space, new landscaping, trees, and shrubs in and around the Building, walkways throughout the
parking lot. The specifications shall be further defined and mutually agreed upon between Tenant
and Landlord and which shall include but not be limited to what is reflected on the plan attached
hereto as Exhibit E-6.

 

 

350 Merrimack Street — Base Building Outline Specifications

	 	 	 

	Project Description

	 	Approximately 137,200 rentable square feet comprising
the entire Building.
	 
	 	 
	Foundations
	 	 
	 
	 	 
	 

	 	A. Existing piered foundation of 200 lbs psf live load.
	 
	 	 
	Structure

	 	A. The structure will be designed in accordance with the following live loads:
	 

	 	1.   Wind load in accordance with
State Building Code. (Historic)

	 
	 	 
	 

	 	2.   Floor live load 70lbs. (including
partitions) for the 7th floor.

	 
	 	 
	 

	 	3.   Mechanical equipment rooms —
actual weight of equipment on roof 5 lbs PSF.

	 
	 	 
	 

	 	4.   Roof —35 lbs. per square foot
minimum and in accordance with governing building codes, plus
allowances for specific drifting and equipment loads.

	 
	 	 
	 

	 	B. The structure of the building is steel columns and wood columns
with wood beams.
	 
	 

	 	C. The building is covered by a sprinkler system.
	 
	 

	 	D. Fire exit stairs will be standard steel pan stair assemblies with
painted steel handrails and concrete fill. (In new staircase)
	 
	 

	 	E. Miscellaneous iron items (elevator sill angles, ladders, railings,
loose lintels, expansion plates, toilet partition support frames,
etc.) will be provided as needed.
	 
	 

	 	F. Landlord to remove 7th floor storage room
	 
	 	 
	Roofing
and Waterproofing

	 	A. Roofing system will either be EDPM or Sarnafil
membrane roof. Fifteen (15) year warranty will be
provided.
	 
	 	 
	 

	 	B. Roof insulation will be rigid fiberglass board, applied with
staggered joints conforming to requirements of the Massachusetts
State Energy Code and acceptable for use with the roofing system
specified.

 

 

	 	 	 

	 

	 	C. Elevator pit will be waterproofed as required.
	 
	 	 
	 

	 	D. Roof walkway pads compatible with the selected manufacturer shall
be provided for equipment access and servicing.
	 
	 	 
	Exterior Walls

	 	A. The exterior wall system is a combination of E.I.F.S, masonry, glass and spandrel
panels.
	 
	 	 
	 

	 	B. Windows will consist of dual-thickness tinted insulating glass set
in thermally broken extruded aluminum frames. Window frames will be
painted aluminum in selected color.
	 
	 	 
	 

	 	C. Landlord to repair, replace and or repoint exterior walls as
needed.
	 
	 	 
	 

	 	D. Landlord to complete powerwash of exterior masonry.
	 
	 	 
	Interior Finishes

	 	A. The main entrance lobby floor finish will be natural stone or other suitable
flooring material with carpet inserts where required by design. Lobby walls will be a
combination of wood panels and painted drywall or plaster with reveals coordinated by base
building Architect/NxStage Representative. Ceilings will be painted drywall and/or acoustical
tile.
	 
	 	 
	 

	 	B. Interior side of exterior walls will be sealed brick or finished
with 5/8” drywall taped and ready for paint.
	 
	 	 
	 

	 	C. Exit stair treads and landings will be finished concrete.
Stairwell walls will be painted drywall or masonry. Railings will be
painted steel.
	 
	 	 
	 

	 	D. Lobby Tower Stairs — Metal paned concrete filled treads, with
painted ornamental iron railings.
	 
	 	 
	 

	 	E. Specification of Gypcrete floor will be provided prior to
installation.
	 
	 	 
	 

	 	F. Brick sealer product to be mutually agreed upon.
	 
	 	 
	 

	 	G. Standard Window blinds to be provided by lessee. Design to be
mutually agreed upon.
	 
	 	 
	 

	 	H. Door frames will be 16 gauge hollow metal. Doors will be 18 gauge,
flush, 1-3/4” thick hollow metal at service areas, and solid core,
flush, 1 3/4” thick plain sliced wood veneer (non-exotic) at all

 

 

	 	 	 

	 

	 	other
areas. Finish hardware will be Sargent with a brushed chrome finish.
All doors and hardware shall comply with regulations of the
Architectural Barriers Board and ADA.
	 
	 	 
	Vertical Transportation

	 	A. Passenger elevators shall be electric hydraulic type with selective
collective automatic operation 3,500 lb. capacity, and speed of 125 fpm up, as manufactured by
Thyssen, Schindler, Otis, or Tenant approved equal
	 
	 	 
	 

	 	B. Freight elevator shall be electric hydraulic type with selective
collective automatic operation 5,000 lb. capacity.
	 
	 	 
	Plumbing

	 	A. Domestic water system will be supplied by metered service from a public water main,
with a pressure reducing station to reduce the incoming water pressure, if required. Water
piping will be Type L copper tubing; all water piping will be insulated.
	 
	 	 
	 

	 	B. Sanitary system is a gravity fed town sewer system.
	 
	 	 
	 

	 	C. Solid surface countertop with integrated sink or under mount sink
	 
	 	 
	 

	 	D. Standard Bathrooms — 1 set of Men’s and Women’s per floor.
	 
	 

	 	      i.     Standard Ceramic Floors
and Base

	 
	 

	 	      ii.    Painted Partitions

	 
	 

	 	      iii.   Automatic Accessories

	 
	 

	 	      iv.   Ceramic tile to be 48” at WW.

	 
	 	 
	 

	 	E. Bathroom Fixture Requirements to meet code requirements.
	 
	 	 
	 

	 	F. Frost-free hose bibs will be provided as required by code for
exterior maintenance.
	 
	 	 
	Fire Protection

	 	A. Sprinkler Spec- The building has complete coverage existing.
	 
	 	 
	 

	 	B. Stand pipes in stairwell
	 
	 	 
	 

	 	C. Existing distribution to be increased per code.
	 
	 	 
	Heating, Ventilating
and Air Conditioning

	 	A. HVAC systems will be designed in accordance with
the following
performance criteria and anticipated load (subject to
the requirements of Massachusetts Building Code,
8th Edition, Articles

 

 

	 	 	 

	 

	 	2, 12, and 13
effective January 1, 2011 and subsequent amendments):
	 
	 	 
	 

	 	1.   The HVAC systems will be capable
of maintaining indoor conditions no higher than 72° F. DB, 50%
RH when outdoor conditions are no higher than 95° F. DB, 74°F.
WB and no lower than 72° F. DB when the outdoor conditions are
no lower than 1° F. DB. No provision for humidification is
provided

	 
	 	 
	 

	 	2.   Outside air will be introduced to
the building at a minimum rate of 20cfm per person, assuming one
person 100 square feet of floor area.

	 
	 	 
	 

	 	3.   Internal heat gain will be
calculated on the basis of sustained peak loading conditions of
one person per 100 square feet of floor area, and a combined
lighting and power load of 4.0 watts per square foot.

	 
	 	 
	 

	 	4.   Heat loss will be calculated per
Article 31 of Massachusetts Building Code, 8th
Edition, and effective January 1, 2011. (With Historic
Exemption)

	 
	 	 
	 

	 	5.   Heated supply air temperature
will be 95° F maximum

	 
	 	 
	 

	 	6.   Cooled supply air temperature
will be 55° F minimum

	 
	 	 
	 

	 	B. The HVAC system shall include the items outlined below. See Item 6
on page 8 for delineation between base building and tenant work.
	 
	 	 
	 

	 	1.   Boiler, cooling tower and chiller
supplied by landlord, for air handler/VAV system throughout the
premises.(Manufacturer to be determined)

	 
	 	 
	 

	 	1. 2 separate closed water loops.
	 
	 

	 	a)   1 cold water loop

	 
	 	 
	 

	 	b)   1 hot water loop

	 
	 	 
	 

	 	2. Gas fired boiler per design.
	 
	 

	 	3. Energy recovery ventilator for fresh air per design.
	 
	 

	 	4. Toilet room and mechanical room exhaust systems and associated
ductwork and fans direct vented to outside.

 

 

	 	 	 

	 

	 	5. Exhaust of each on floor electric closet. Main switchgear room to
be exhausted (direct vented to outside).
	 
	 

	 	6. DDC Automatic temperature control system per design.
	 
	 

	 	7. Electric cabinet and unit heaters as required at entries,
stairways, loading docks and overhang plenum areas.
	 
	 

	 	8. Electric fin tube radiation to be provided as required below
exposures of lobby glass.
	 
	 

	 	9. Testing and balancing of all air systems. (Seasonal comfort
balances as required)
	 
	 

	 	10. All parties agree that HVAC noise is a major concern to tenant.
All parties will work together during design to address tenants
concerns.
	 
	 	 
	Electrical

	 	A. Electrical systems will be designed in accordance with the following anticipated
loads:
	 
	 	 
	 

	 	1.   Lighting power requirements will
be calculated on the basis of 3 watts per square foot of
building area.

	 
	 	 
	 

	 	2.   Tenant convenience outlet power
requirements will be calculated on the basis of 3 watts per
square foot of building area.

	 
	 	 
	 

	 	3.   Power requirements for HVAC and
other fixed building equipment will be determined by the actual
equipment installed per design.

	 
	 	 
	 

	 	4.   Standard Light Package

	 
	 	 
	 

	 	i.   $25,000 per floor
standard allowance

	 
	 

	 	ii.   Energy Efficient Fixtures

	 
	 

	 	iii.   60 foot candles at
desktop height

	 
	 	 
	 

	 	B. The electrical power distribution system will receive low tension
power at 480/277 volts, 3-phase, 4 wire from the onsite transformers.
The distribution system will permit all electricity consumed to be
metered through a single metering installation, and will incorporate
one or more main switchboards and all subsidiary panelboards (power,
lighting, equipment) as required. The distribution system will be
capable of supplying power as follows:
	 
	 

	 	1. 480 volts 3-phase to all motors 2 horsepower and larger.
	 
	 

	 	2. 277 volts single-phase to all fluorescent (and other discharge
type lamp) lighting fixtures.
	 
	 

	 	3. 120 volts single-phase to all incandescent lighting fixtures.

 

 

	 	 	 

	 

	 	4. 120 volts single-phase to all general convenience receptacle
outlets.
	 
	 

	 	5. 120 volts single-phase, 208 volts single-phase, 208 volts 3-phase
to specific use “solid connection” or receptacle outlets, as
determined from the requirements of the appliances assigned to the
outlets.
	 
	 

	 	C. Three-phase, dry-type transformers (480 volt delta to 208/120volt
wye) will be used to provide power of voltages not available from
direct connection to the main service. Transformers will be the
self-cooled indoor type with Class H insulation and steel enclosures.
	 
	 

	 	D. The emergency lighting system will consist of an emergency battery
back up supplying the fixtures illuminating egress passages and
stairs, exit signs and fire alarm system.
	 
	 

	 	E. The automatic fire detection and alarm system will be
electronically operated, double-supervised, connected to the
municipal fire department, and provided with a battery backup. All
components of the fire alarm system (control unit, manual alarm
stations, alarm indicators, automatic smoke and heat detectors, fan
control relays, etc.) will be Underwriters’ Laboratories rated and
the system will comply with all requirements of the NFPA, governing
building code and local authorities. Activation of a manual alarm
station or an automatic detection device (waterflow switches, smoke
detectors, etc.) will:
	 
	 

	 	1. Sound the evacuation signals and flash the alarm lamps throughout
the building.
	 
	 

	 	2. Indicate the zone of alarm on the fire alarm control panel and
remote annunciator.
	 
	 

	 	3. Summon the municipal fire department.
	 
	 

	 	4. Battery back-up failure or any disruption of the system wiring
will sound an alarm at the system control panel.
	 
	 

	 	5. Colors to be determined by the Lawrence Fire Department.
	 
	 	 
	Base Building/Tenant 

Work Clarification

	 	A. To clarify the delineation from base building to tenant work, the
following criteria apply:
	 
	 	 
	 

	 	1.   The base building includes taped
drywall ready for paint on the interior face of the exterior
wall or sealed brick and the exterior
face on the interior core.(Sealer product to be mutually agreed
upon)

	 
	 	 
	 

	 	2.   The base building sprinkler
system includes valves at each floor on the stairwell risers
with cross connected main. The 

 

 

	 	 	 

	 

	 	      extension of distribution, branch
piping and sprinkler heads are Landlord work. Any modification
to base building layout is tenant work.

	 
	 	 
	 

	 	3.   Boiler, cooling tower and chiller
supplied by landlord, for air handler/VAV system throughout the
premises.(Manufacturer to be determined)

	 
	 	 
	 

	 	4.   Base building electrical system
extends up to and includes conduits and feeders and or bus duct
to central electrical room on each floor, sized to accommodate
tenant electrical design loaf of 6.0 watts/SF (lighting and
power) In addition to previously listed design loads.

	 
	 	 
	 

	 	5.   Tower Elevators- “Standard” P-Lam
walls with a painted steel ceiling and prismatic lenses.
(finishes to be mutually agreed upon)

	 
	 	 
	 

	 	6.   Tenant work, which is not
included in base building, will cover the following:

	 
	 	 
	 

	 	a.   Tenant partitions other than
required on base building.

	 
	 	 
	 

	 	b.   Interior Doors other than
required on base building.

	 
	 	 
	 

	 	c.   Acoustical Ceilings other than
required on base building.

	 
	 	 
	 

	 	d.   Carpet and Floor Finishes other
than required on base building. Gypcrete floor level by
landlord.

	 
	 	 
	 

	 	e.   Light Fixtures from what is
stated above.

	 
	 	 
	 

	 	f.   Single Pole Switches

	 
	 	 
	 

	 	g.   Wall-Mounted Duplex Outlets

	 
	 	 
	 

	 	h.   Wall Mounted Telephone Outlets
and Wiring

	 
	 	 
	 

	 	i.   Branch piping and sprinkler head
relocations required by tenant layout

	 
	 	 
	 

	 	j.   Fire alarm stations and exit
signs required by code by landlord.

	 
	 	 
	 

	 	k.   Tenant required supplemental
cooling.

	 
	 	 
	 

	 	l.   Security

 

 

Exhibit E-1

Base Building Budget

Intentionally omitted.

 

 

Exhibit E-2

Plan of Front of Building including entrance, lobby and tower

See attached.

 

 

Exhibit E-2

 

 

Exhibit E-2

 

 

Exhibit E-3

Window Plan

See attached.

 

 

Exhibit E-3

 

 

Exhibit E-4

Column Removal Plan

See attached.

[**]

 

 

Exhibit E-5

Interconnecting Bridge Plan

See attached.

 

 

Exhibit E-5

 

 

Exhibit E-5

 

 

Exhibit E-6

Exterior Site Improvement Plan

See attached.

 

 

     

Exhibit E-6

 

 

Exhibit F

Tenant’s Initial Space Plan

See attached.

[**]

 

 

Exhibit F-1 

Tenant’s Work

Tenant Improvements

Landlord’s Work

     Landlord agrees to construct Landlord’s Work and Tenant’s Work which is not noted on the Final
Plans and Specs as being done by Tenant (Tenant Improvements) in accordance with the Final Plans
and Specs. Changes shall be made only with a written change order signed by Landlord and Tenant.

     Subject to Section 10(C), Landlord and Tenant have agreed upon a framework for the
construction of Tenant Improvements for the initial portion of the Premises to be occupied under
this Lease and thereafter for the remainder of the Tenant Improvements to be constructed in the
remaining portions of the Premises. The method for planning, pricing and construction of Tenant
Improvements for the initial portion of the Premises are set forth in this Lease. Landlord intends
to create a competitive bid process by soliciting and receiving three (3) bids from general
contractors including a bid from a contractor owned by the principal of the Landlord. For the
build out of the initial portion of Tenant Improvements as aforesaid (and future improvements
needed for the Premises to be occupied by Tenant hereunder), Landlord has committed a TIA of
$4,300,000.

     It is understood that the TIA of $4,300,000 is a one time allowance and there is no allowance
for Tenant Improvements in the next stages of construction of Tenant Improvements within the
Premises except what is remaining of the TIA after Tenant’s build-out of the initial portion of the
Premises.

 

 

Exhibit G

Guaranty of Salvatore N. Lupoli

See attached.

 

 

GUARANTY

          FOR VALUE RECEIVED, and in consideration for, and as an inducement to NXSTAGE MEDICAL, INC.
(the “Tenant”) to enter into that certain Lease (the “Lease”) with 350 RIVERWALK, LLC (the
“Landlord”) of even date herewith, the undersigned, Salvatore N. Lupoli, an individual
having a mailing address of 354 Merrimack Street, Lawrence, MA 01843 (the “Guarantor”),
unconditionally guarantees the full performance and observance of all the covenants,
conditions and agreements therein provided to be performed and observed by the Landlord with
respect to the Landlord’s construction obligations as set forth in the Lease, including without
limitation, the Base Building, Tenant Improvements (including the TIA) (as each such term is
defined in the Lease), and brokerage fees (collectively, “Landlord’s Obligations”).
Guarantor expressly agrees that the validity of this agreement and the obligations of the
Guarantor shall in no way be terminated, affected or impaired by reason of the granting by the
Tenant of any indulgences to the Landlord or by reason of the assertion by the Tenant against the
Landlord ‘of any of the rights or remedies reserved to the Tenant pursuant to the provisions of the
Lease or by the relief of the Landlord from any of the Landlord’s obligations under the Lease
relating to the Landlord’s construction obligations as set forth in the Lease by operation of law
or otherwise; the Guarantor hereby waiving all suretyship defenses. The obligations of the
Guarantor include without limitation the payment of any monies payable by the Landlord relating to
the Landlord’s Obligations.

          The Guarantor further covenants and agrees that this Guaranty shall remain and continue in
full force and effect as to any modification of the Lease, whether or not provided that the
Guarantor shall have received any notice of or consented to such modification. The Guarantor
further agrees that his liability under this Guaranty shall be primary, and that in any right of
action which shall accrue to the Tenant under the Lease, the Tenant may, at its option, proceed
against the Guarantor and the Landlord, jointly or severally, and may proceed against the Guarantor
without having commenced any action against or having obtained any judgment against the Landlord.
The Guarantor irrevocably waives any and all rights the Guarantor may have at any time (whether
arising directly or indirectly, by operation of law or by contract or otherwise) to assert any
claim against the Landlord on account of payments made under this Guaranty, including, without
limitation, any and all rights of or claims for subrogation, contribution, reimbursement,
exoneration and indemnity; and the Guarantor will not claim any set-off or counterclaim against the
Landlord in respect of any liability the Guarantor may have to the Landlord. The Guarantor further
represents to the Tenant as an inducement for it to make the Lease, that the Guarantor has a
significant financial interest in the Landlord and that the execution and delivery of this Guaranty
is not in contravention of any applicable law.

          It is agreed that the failure of the Tenant to insist in any one or more instances
upon a strict performance or observance of any of the terms, provisions or covenants of the Lease
or this Guaranty or to exercise any right therein or herein contained shall not be construed or
deemed to be a waiver or relinquishment for the future of such term, provision, covenant or right,
but the same shall continue and remain in full force and effect.

          No subletting, assignment or other transfer of the Lease, or any interest therein, shall
operate to extinguish or diminish the liability of the Guarantor under this Guaranty; and

 

 

wherever reference is made to the liability of the Landlord named in the Lease, such reference
shall be deemed likewise to refer to the Guarantor with respect to the Landlord’s Obligations.

          All payments becoming due under this Guaranty, including, without limitation, all reasonable
costs of collection, and not paid when due shall bear interest from the applicable due date until
received by the Tenant at the Default Rate (as defined in the Lease).

          It is further agreed that all of the terms and provisions hereof shall inure to the
benefit of the successors and assigns of the Tenant, and shall be binding upon the heirs,
executors, legal representatives, successors and assigns of the Guarantor.

[Signature Page Follows]

 

 

          IN WITNESS WHEREOF, the Guarantor has executed this Guaranty under seal this ____ day of ________________, 2011.

	 	 	 	 	 
	 	 	 
	 	
 	 
	 	Salvatore N. Lupoli 	 
	 	 	 
	 

COMMONWEALTH OF MASSACHUSETTS

_____________________________, ss.

          On this ____ day of ______________, 2011, before me, the undersigned notary public, personally appeared
Salvatore N. Lupoli, proved to me through satisfactory evidence of identification, which was o a
driver’s license, o personally known to me, or o personally known to a 3rd party personally known
to me, to be the person whose name is signed on the preceding or attached document, and
acknowledged to me that he signed it voluntarily for its stated purpose.

	 	 	 	 	 
	 	 	 
	 	
 	 
	 	Notary Public 	 
	 	My Commission Expires: 
	 
	 

 

Exhibit H

Loading Dock Plan

See attached.

[**]

 

 

Exhibit I

Construction Schedule (Milestones)

	 	 	 

	Complete Building Entrance/Lobby (excluding finishes)

	 	12/1/11
	 
	 	 
	Complete Interconnecting Bridge (excluding finishes)

	 	12/1/11
	 
	 	 
	Complete Rough Wall Inspections

	 	12/15/11
	 
	 	 
	Complete Rough Ceiling Inspections

	 	2/1/12
	 
	 	 
	Complete Base Building

	 	4/1/12
	 
	 	 
	Complete Exterior Site Improvements

	 	4/1/12

 

 

Exhibit J

Parking Plan

See attached.

 

 

     

Exhibit J

 

 

Exhibit K

Section 44 Amortization Schedule

See attached.

 

 

Exhibit K

	 	 	 	 	 	 	 	 	 

	 
	 	Amortization Schedule	 	 	 	 
	Landlord’s out
of pocket
expenses
(Total $) =
	 	 	 	 	 	 	 	 
	Lease Term In Yrs. =
	 	 	 	 	 	 	 	 
	Interest Rate =
	 	 	 	 	 	 	 	 
	 
	 	$	5,276,000	 	 	Amended LL Cost estimate
	 
	 	 	 	 	 	 	 
	 
	 	 	11	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	 
	 	 	7.000	%	 	 	 	 
	 
	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Debt Service	 	 	Interest Payments	 	 	Principal Payment	 	 	Balance (After Pmt)	 
	1
	 	$	5,275,000	 	 	 	-57,413.63	 	 	 	($30,771	)	 	 	($26,643	)	 	$	5,248,357	 
	2
	 	$	5,240,357	 	 	 	-57,413.63	 	 	 	($30,615	)	 	 	($26,798	)	 	$	5,221,559	 
	3
	 	$	5,221,559	 	 	 	-57,413.63	 	 	 	($30,459	)	 	 	($26,955	)	 	$	5,194,604	 
	4
	 	$	5,194,604	 	 	 	-57,413.63	 	 	 	($30,302	)	 	 	($27,112	)	 	$	5,167,493	 
	5
	 	$	5,167,493	 	 	 	-57,413.63	 	 	 	($30,144	)	 	 	($27,270	)	 	$	5,140,223	 
	6
	 	$	5,140,223	 	 	 	-57,413.63	 	 	 	($29,985	)	 	 	($27,429	)	 	$	5,112,794	 
	7
	 	$	5,112,794	 	 	 	-57,413.63	 	 	 	($29,825	)	 	 	($27,589	)	 	$	5,085,205	 
	8
	 	$	5,085,205	 	 	 	-57,413.63	 	 	 	($20,664	)	 	 	($27,750	)	 	$	5,057,455	 
	9
	 	$	5,057,455	 	 	 	-57,413.63	 	 	 	($29,502	)	 	 	($27,912	)	 	$	5,029,543	 
	10
	 	$	5,029,543	 	 	 	-57,413.63	 	 	 	($29,339	)	 	 	($28,075	)	 	$	5,001,468	 
	11
	 	$	5,001,468	 	 	 	-57,413.63	 	 	 	($29,175	)	 	 	($28,238	)	 	$	4,973,230	 
	12
	 	$	4,973,230	 	 	 	-57,413.63	 	 	 	($29,011	)	 	 	($28,403	)	 	$	4,944,827	 
	13
	 	$	4,944,827	 	 	 	-57,413.63	 	 	 	($28,845	)	 	 	($28,569	)	 	$	4,916,258	 
	14
	 	$	4,916,258	 	 	 	-57,413.63	 	 	 	($28,678	)	 	 	($28,735	)	 	$	4,887,523	 
	15
	 	$	4,887,523	 	 	 	-57,413.63	 	 	 	($28,511	)	 	 	($28,903	)	 	$	4,858,619	 
	16
	 	$	4,858,619	 	 	 	-57,413.63	 	 	 	($28,342	)	 	 	($29,072	)	 	$	4,829,548	 
	17
	 	$	4,829,548	 	 	 	-57,413.63	 	 	 	($28,172	)	 	 	($29,241	)	 	$	4,800,307	 
	18
	 	$	4,800,307	 	 	 	-57,413.63	 	 	 	($28,002	)	 	 	($29,412	)	 	$	4,770,895	 
	19
	 	$	4,770,895	 	 	 	-57,413.63	 	 	 	($27,830	)	 	 	($29,583	)	 	$	4,741,311	 
	20
	 	$	4,741,311	 	 	 	-57,413.63	 	 	 	($27,658	)	 	 	($29,756	)	 	$	4,711,555	 
	21
	 	$	4,711,555	 	 	 	-57,413.63	 	 	 	($27,484	)	 	 	($29,930	)	 	$	4,681,628	 
	22
	 	$	4,681,626	 	 	 	-57,413.63	 	 	 	($27,300	)	 	 	($30,104	)	 	$	4,651,522	 
	23
	 	$	4,651,522	 	 	 	-57,413.63	 	 	 	($27,134	)	 	 	($30,280	)	 	$	4,621,242	 
	24
	 	$	4,621,242	 	 	 	-57,413.63	 	 	 	($26,957	)	 	 	($30,456	)	 	$	4,590,785	 
	25
	 	$	4,590,785	 	 	 	-57,413.63	 	 	 	($26,780	)	 	 	($30,634	)	 	$	4,560,151	 
	26
	 	$	4,560,151	 	 	 	-57,413.63	 	 	 	($26,601	)	 	 	($30,813	)	 	$	4,529,339	 
	27
	 	$	4,529,339	 	 	 	-57,413.63	 	 	 	($26,421	)	 	 	($30,992	)	 	$	4,498,346	 
	28
	 	$	4,498,346	 	 	 	-57,413.63	 	 	 	($26,240	)	 	 	($31,173	)	 	$	4,467,173	 
	29
	 	$	4,467,173	 	 	 	-57,413.63	 	 	 	($26,059	)	 	 	($31,355	)	 	$	4,435,818	 
	30
	 	$	4,435,818	 	 	 	-57,413.63	 	 	 	($25,876	)	 	 	($31,538	)	 	$	4,404,280	 
	31
	 	$	4,404,280	 	 	 	-57,413.63	 	 	 	($25,692	)	 	 	($31,722	)	 	$	4,372,558	 
	32
	 	$	4,372,558	 	 	 	-57,413.63	 	 	 	($25,507	)	 	 	($31,907	)	 	$	4,340,651	 
	33
	 	$	4,340,651	 	 	 	-57,413.63	 	 	 	($25,320	)	 	 	($32,093	)	 	$	4,308,557	 
	34
	 	$	4,308,557	 	 	 	-57,413.63	 	 	 	($25,133	)	 	 	($32,280	)	 	$	4,276,277	 
	35
	 	$	4,276,277	 	 	 	-57,413.63	 	 	 	($24,945	)	 	 	($32,469	)	 	$	4,243,808	 
	36
	 	$	4,243,808	 	 	 	-57,413.63	 	 	 	($24,756	)	 	 	($32,658	)	 	$	4,211,150	 
	37
	 	$	4,211,150	 	 	 	-57,413.63	 	 	 	($24,685	)	 	 	($32,849	)	 	$	4,178,302	 
	38
	 	$	4,178,302	 	 	 	-57,413.63	 	 	 	($24,373	)	 	 	($33,040	)	 	$	4,145,262	 
	39
	 	$	4,145,262	 	 	 	-57,413.63	 	 	 	($24,181	)	 	 	($33,233	)	 	$	4,112,029	 
	40
	 	$	4,112,029	 	 	 	-57,413.63	 	 	 	($23,987	)	 	 	($33,427	)	 	$	4,078,602	 
	41
	 	$	4,078,602	 	 	 	-57,413.63	 	 	 	($23,792	)	 	 	($33,622	)	 	$	4,044,980	 
	42
	 	$	4,044,980	 	 	 	-57,413.63	 	 	 	($23,596	)	 	 	($33,818	)	 	$	4,011,162	 
	43
	 	$	4,011,162	 	 	 	-57,413.63	 	 	 	($23,390	)	 	 	($34,015	)	 	$	3,977,147	 
	44
	 	$	3,977,147	 	 	 	-57,413.63	 	 	 	($23,200	)	 	 	($34,214	)	 	$	3,942,933	 
	45
	 	$	3,942,933	 	 	 	-57,413.63	 	 	 	($23,000	)	 	 	($34,413	)	 	$	3,908,520	 
	46
	 	$	3,908,520	 	 	 	-57,413.63	 	 	 	($22,800	)	 	 	($34,614	)	 	$	3,873,906	 
	47
	 	$	3,873,906	 	 	 	-57,413.63	 	 	 	($22,590	)	 	 	($34,816	)	 	$	3,839,080	 
	48
	 	$	3,839,090	 	 	 	-57,413.63	 	 	 	($22,395	)	 	 	($35,019	)	 	$	3,804,071	 
	49
	 	$	3,804,071	 	 	 	-57,413.63	 	 	 	($22,190	)	 	 	($35,223	)	 	$	3,768,848	 
	50
	 	$	3,768,848	 	 	 	-57,413.63	 	 	 	($21,985	)	 	 	($35,429	)	 	$	3,733,420	 
	51
	 	$	3,733,420	 	 	 	-57,413.63	 	 	 	($21,778	)	 	 	($35,635	)	 	$	3,697,784	 
	52
	 	$	3,697,784	 	 	 	-57,413.63	 	 	 	($21,570	)	 	 	($35,843	)	 	$	3,661,941	 
	53
	 	$	3,661,941	 	 	 	-57,413.63	 	 	 	($21,361	)	 	 	($36,052	)	 	$	3,625,889	 
	54
	 	$	3,625,889	 	 	 	-57,413.63	 	 	 	($21,151	)	 	 	($36,263	)	 	$	3,589,626	 
	55
	 	$	3,589,626	 	 	 	-57,413.63	 	 	 	($20,939	)	 	 	($36,474	)	 	$	3,553,152	 
	56
	 	$	3,553,152	 	 	 	-57,413.63	 	 	 	($20,727	)	 	 	($36,687	)	 	$	3,516,465	 
	57
	 	$	3,516,465	 	 	 	-57,413.63	 	 	 	($20,513	)	 	 	($36,901	)	 	$	3,479,564	 
	58
	 	$	3,479,564	 	 	 	-57,413.63	 	 	 	($20,297	)	 	 	($37,110	)	 	$	3,442,448	 
	59
	 	$	3,442,448	 	 	 	-57,413.63	 	 	 	($20,081	)	 	 	($37,333	)	 	$	3,405,115	 
	60
	 	$	3,405,115	 	 	 	-57,413.63	 	 	 	($19,863	)	 	 	($37,550	)	 	$	3,367,565	 

 

	 	 	 	 	 	 	 	 	 

	 
	 	Amortization Schedule	 	 	 	 
	Landlord’s out
of pocket
expenses
(Total $) =
	 	$	5,276,000	 	 	Amended LL Cost estimate
	 
	 	 	 	 	 	 	 
	Lease Term In Yrs. =
	 	 	11	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	Interest Rate =
	 	 	7.000	%	 	 	 	 
	 
	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Debt Service	 	 	Interest Payments	 	 	Principal Payment	 	 	Balance (After Pmt)	 
	61
	 	$	3,367,565	 	 	 	-57,413.63	 	 	 	($19,644	)	 	 	($37,770	)	 	$	3,329,795	 
	62
	 	$	3,329,795	 	 	 	-57,413.63	 	 	 	($19,424	)	 	 	($37,990	)	 	$	3,291,805	 
	63
	 	$	3,291,805	 	 	 	-57,413.63	 	 	 	($19,202	)	 	 	($38,211	)	 	$	3,253,594	 
	64
	 	$	3,253,594	 	 	 	-57,413.63	 	 	 	($18,979	)	 	 	($38,434	)	 	$	3,215,160	 
	65
	 	$	3,215,160	 	 	 	-57,413.63	 	 	 	($18,755	)	 	 	($38,659	)	 	$	3,176,501	 
	66
	 	$	3,176,501	 	 	 	-57,413.63	 	 	 	($18,530	)	 	 	($38,884	)	 	$	3,137,617	 
	67
	 	$	3,137,617	 	 	 	-57,413.63	 	 	 	($18,303	)	 	 	($39,111	)	 	$	3,098,506	 
	68
	 	$	3,098,506	 	 	 	-57,413.63	 	 	 	($18,075	)	 	 	($39,339	)	 	$	3,059,167	 
	69
	 	$	3,059,167	 	 	 	-57,413.63	 	 	 	($17,845	)	 	 	($39,568	)	 	$	3,019,599	 
	70
	 	$	3,019,599	 	 	 	-57,413.63	 	 	 	($17,614	)	 	 	($39,799	)	 	$	2,979,799	 
	71
	 	$	2,979,799	 	 	 	-57,413.63	 	 	 	($17,382	)	 	 	($40,031	)	 	$	2,939,768	 
	72
	 	$	2,939,768	 	 	 	-57,413.63	 	 	 	($17,149	)	 	 	($40,265	)	 	$	2,899,503	 
	73
	 	$	2,899,503	 	 	 	-57,413.63	 	 	 	($16,914	)	 	 	($40,600	)	 	$	2,859,003	 
	74
	 	$	2,859,003	 	 	 	-57,413.63	 	 	 	($16,678	)	 	 	($40,736	)	 	$	2,818,267	 
	75
	 	$	2,818,267	 	 	 	-57,413.63	 	 	 	($16,440	)	 	 	($40,974	)	 	$	2,777,293	 
	76
	 	$	2,777,293	 	 	 	-57,413.63	 	 	 	($16,201	)	 	 	($41,213	)	 	$	2,736,080	 
	77
	 	$	2,736,080	 	 	 	-57,413.63	 	 	 	($15,960	)	 	 	($41,453	)	 	$	2,694,627	 
	78
	 	$	2,694,627	 	 	 	-57,413.63	 	 	 	($15,719	)	 	 	($41,695	)	 	$	2,652,932	 
	79
	 	$	2,652,932	 	 	 	-57,413.63	 	 	 	($15,475	)	 	 	($41,938	)	 	$	2,610,994	 
	80
	 	$	2,610,994	 	 	 	-57,413.63	 	 	 	($15,231	)	 	 	($42,183	)	 	$	2,568,811	 
	81
	 	$	2,568,811	 	 	 	-57,413.63	 	 	 	($14,985	)	 	 	($42,429	)	 	$	2,526,382	 
	82
	 	$	2,626,382	 	 	 	-57,413.63	 	 	 	($14,737	)	 	 	($42,676	)	 	$	2,483,706	 
	83
	 	$	2,483,706	 	 	 	-57,413.63	 	 	 	($14,488	)	 	 	($42,925	)	 	$	2,440,781	 
	84
	 	$	2,440,781	 	 	 	-57,413.63	 	 	 	($14,238	)	 	 	($43,176	)	 	$	2,397,605	 
	85
	 	$	2,397,605	 	 	 	-57,413.63	 	 	 	($13,986	)	 	 	($43,428	)	 	$	2,354,177	 
	86
	 	$	2,354,177	 	 	 	-57,413.63	 	 	 	($13,733	)	 	 	($43,681	)	 	$	2,310,496	 
	87
	 	$	2,310,496	 	 	 	-57,413.63	 	 	 	($13,478	)	 	 	($43,936	)	 	$	2,266,561	 
	88
	 	$	2,268,561	 	 	 	-57,413.63	 	 	 	($13,222	)	 	 	($44,192	)	 	$	2,222,369	 
	89
	 	$	2,222,369	 	 	 	-57,413.63	 	 	 	($12,964	)	 	 	($44,450	)	 	$	2,177,919	 
	90
	 	$	2,177,919	 	 	 	-57,413.63	 	 	 	($12,705	)	 	 	($44,709	)	 	$	2,133,210	 
	91
	 	$	2,133,210	 	 	 	-57,413.63	 	 	 	($12,444	)	 	 	($44,970	)	 	$	2,088,240	 
	92
	 	$	2,066,240	 	 	 	-57,413.63	 	 	 	($12,181	)	 	 	($45,232	)	 	$	2,043,007	 
	93
	 	$	2,043,007	 	 	 	-57,413.63	 	 	 	($11,918	)	 	 	($45,496	)	 	$	1,997,511	 
	94
	 	$	1,997,511	 	 	 	-57,413.63	 	 	 	($11,652	)	 	 	($45,761	)	 	$	1,951,750	 
	95
	 	$	1,951,750	 	 	 	-57,413.63	 	 	 	($11,386	)	 	 	($46,028	)	 	$	1,905,721	 
	96
	 	$	1,905,721	 	 	 	-57,413.63	 	 	 	($11,117	)	 	 	($46,297	)	 	$	1,859,425	 
	97
	 	$	1,859,425	 	 	 	-57,413.63	 	 	 	($10,847	)	 	 	($46,567	)	 	$	1,812,858	 
	98
	 	$	1,612,858	 	 	 	-57,413.63	 	 	 	($10,575	)	 	 	($46,839	)	 	$	1,766,019	 
	99
	 	$	1,766,019	 	 	 	-57,413.63	 	 	 	($10,302	)	 	 	($47,112	)	 	$	1,718,907	 
	100
	 	$	1,718,907	 	 	 	-57,413.63	 	 	 	($10,027	)	 	 	($47,307	)	 	$	1,671,520	 
	101
	 	$	1,671,520	 	 	 	-57,413.63	 	 	 	($9,751	)	 	 	($47,663	)	 	$	1,623,857	 
	102
	 	$	1,623,857	 	 	 	-57,413.63	 	 	 	($9,473	)	 	 	($47,941	)	 	$	1,575,916	 
	103
	 	$	1,575,916	 	 	 	-57,413.63	 	 	 	($9,193	)	 	 	($48,221	)	 	$	1,527,696	 
	104
	 	$	1,527,695	 	 	 	-57,413.63	 	 	 	($8,912	)	 	 	($48,502	)	 	$	1,479,193	 
	105
	 	$	1,479,193	 	 	 	-57,413.63	 	 	 	($8,629	)	 	 	($48,785	)	 	$	1,430,408	 
	106
	 	$	1,430,408	 	 	 	-57,413.63	 	 	 	($8,344	)	 	 	($49,070	)	 	$	1,381,339	 
	107
	 	$	1,381,339	 	 	 	-57,413.63	 	 	 	($8,058	)	 	 	($49,356	)	 	$	1,331,983	 
	108
	 	$	1,331,983	 	 	 	-57,413.63	 	 	 	($7,770	)	 	 	($49,044	)	 	$	1,282,339	 
	109
	 	$	1,282,339	 	 	 	-57,413.63	 	 	 	($7,480	)	 	 	($49,933	)	 	$	1,232,406	 
	110
	 	$	1,232,406	 	 	 	-57,413.63	 	 	 	($7,189	)	 	 	($50,225	)	 	$	1,182,181	 
	111
	 	$	1,182,181	 	 	 	-57,413.63	 	 	 	($6,896	)	 	 	($50,518	)	 	$	1,131,664	 
	112
	 	$	1,131,664	 	 	 	-57,413.63	 	 	 	($6,601	)	 	 	($50,612	)	 	$	1,080,851	 
	113
	 	$	1,080,851	 	 	 	-57,413.63	 	 	 	($6,305	)	 	 	($51,109	)	 	$	1,029,743	 
	114
	 	$	1,029,743	 	 	 	-57,413.63	 	 	 	($6,007	)	 	 	($51,407	)	 	$	978,336	 
	115
	 	$	978,336	 	 	 	-57,413.63	 	 	 	($5,707	)	 	 	($51,707	)	 	$	926,629	 
	116
	 	$	926,629	 	 	 	-57,413.63	 	 	 	($5,405	)	 	 	($52,008	)	 	$	874,621	 
	117
	 	$	874,621	 	 	 	-57,413.63	 	 	 	($5,102	)	 	 	($52,312	)	 	$	822,309	 
	118
	 	$	822,309	 	 	 	-57,413.63	 	 	 	($4,797	)	 	 	($52,617	)	 	$	769,692	 
	119
	 	$	769,692	 	 	 	-57,413.63	 	 	 	($4,490	)	 	 	($52,924	)	 	$	716,769	 
	120
	 	$	716,760	 	 	 	-57,413.63	 	 	 	($4,181	)	 	 	($53,232	)	 	$	663,536	 
	121
	 	$	663,536	 	 	 	-57,413.63	 	 	 	($3,871	)	 	 	($53,543	)	 	$	609,993	 
	122
	 	$	609,993	 	 	 	-57,413.63	 	 	 	($3,558	)	 	 	($53,855	)	 	$	556,138	 
	123
	 	$	556,138	 	 	 	-57,413.63	 	 	 	($3,244	)	 	 	($54,169	)	 	$	501,968	 
	124
	 	$	501,968	 	 	 	-57,413.63	 	 	 	($2,928	)	 	 	($54,485	)	 	$	447,483	 
	125
	 	$	447,483	 	 	 	-57,413.63	 	 	 	($2,610	)	 	 	($54,803	)	 	$	392,680	 
	126
	 	$	392,660	 	 	 	-57,413.63	 	 	 	($2,291	)	 	 	($55,123	)	 	$	337,557	 
	127
	 	$	337,557	 	 	 	-57,413.63	 	 	 	($1,969	)	 	 	($55,445	)	 	$	282,112	 
	128
	 	$	282,112	 	 	 	-57,413.63	 	 	 	($1,646	)	 	 	($55,768	)	 	$	226,344	 
	129
	 	$	226,344	 	 	 	-57,413.63	 	 	 	($1,320	)	 	 	($56,093	)	 	$	170,251	 
	130
	 	$	170,251	 	 	 	-57,413.63	 	 	 	($993	)	 	 	($56,421	)	 	$	113,830	 
	131
	 	$	113,830	 	 	 	-57,413.63	 	 	 	($664	)	 	 	($56,750	)	 	$	57,081	 
	132
	 	$	57,081	 	 	 	-57,413.63	 	 	 	($333	)	 	 	($57,081	)	 	$	0exv4w3

Exhibit 4.3

 

CORESITE REALTY CORPORATION

INDENTURE

Dated as of __________ __, 20__

 

Trustee

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	PAGE	 
	ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE
	 	 	1	 
	Section 1.1 Definitions
	 	 	1	 
	Section 1.2 Other Definitions
	 	 	4	 
	Section 1.3 Incorporation by Reference of Trust Indenture Act
	 	 	5	 
	Section 1.4 Rules of Construction
	 	 	5	 
	 
	 	 	 	 
	ARTICLE II. THE SECURITIES
	 	 	5	 
	Section 2.1 Issuable in Series
	 	 	5	 
	Section 2.2 Establishment of Terms of Series of Securities
	 	 	6	 
	Section 2.3 Execution and Authentication
	 	 	8	 
	Section 2.4 Registrar and Paying Agent
	 	 	9	 
	Section 2.5 Paying Agent to Hold Money in Trust
	 	 	10	 
	Section 2.6 Securityholder Lists
	 	 	10	 
	Section 2.7 Transfer and Exchange
	 	 	10	 
	Section 2.8 Mutilated, Destroyed, Lost and Stolen Securities
	 	 	11	 
	Section 2.9 Outstanding Securities
	 	 	11	 
	Section 2.10 Treasury Securities
	 	 	12	 
	Section 2.11 Temporary Securities
	 	 	12	 
	Section 2.12 Cancellation
	 	 	12	 
	Section 2.13 Defaulted Interest
	 	 	13	 
	Section 2.14 Global Securities
	 	 	13	 
	Section 2.15 CUSIP Numbers
	 	 	14	 
	 
	 	 	 	 
	ARTICLE III. REDEMPTION
	 	 	14	 
	Section 3.1 Notice to Trustee
	 	 	14	 
	Section 3.2 Selection of Securities to be Redeemed
	 	 	15	 
	Section 3.3 Notice of Redemption
	 	 	15	 
	Section 3.4 Effect of Notice of Redemption
	 	 	16	 
	Section 3.5 Deposit of Redemption Price
	 	 	16	 
	Section 3.6 Securities Redeemed in Part
	 	 	16	 
	 
	 	 	 	 
	ARTICLE IV. COVENANTS
	 	 	16	 
	Section 4.1 Payment of Principal and Interest
	 	 	16	 
	Section 4.2 SEC Reports
	 	 	16	 
	Section 4.3 Compliance Certificate
	 	 	17	 
	Section 4.4 Stay, Extension and Usury Laws
	 	 	17	 
	Section 4.5 Corporate Existence
	 	 	17	 
	 
	 	 	 	 
	ARTICLE V. SUCCESSORS
	 	 	18	 
	Section 5.1 When Company May Merge, Etc.
	 	 	18	 
	Section 5.2 Successor Corporation Substituted
	 	 	18	 

i

 

	 	 	 	 	 
	 	 	PAGE	 
	ARTICLE VI. DEFAULTS AND REMEDIES
	 	 	18	 
	Section 6.1 Events of Default
	 	 	18	 
	Section 6.2 Acceleration of Maturity; Rescission and Annulment
	 	 	20	 
	Section 6.3 Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	20	 
	Section 6.4 Trustee May File Proofs of Claim
	 	 	21	 
	Section 6.5 Trustee May Enforce Claims Without Possession of Securities
	 	 	22	 
	Section 6.6 Application of Money Collected
	 	 	22	 
	Section 6.7 Limitation on Suits
	 	 	22	 
	Section 6.8 Unconditional Right of Holders to Receive Principal and Interest
	 	 	23	 
	Section 6.9 Restoration of Rights and Remedies
	 	 	23	 
	Section 6.10 Rights and Remedies Cumulative
	 	 	23	 
	Section 6.11 Delay or Omission Not Waiver
	 	 	24	 
	Section 6.12 Control by Holders
	 	 	24	 
	Section 6.13 Waiver of Past Defaults
	 	 	24	 
	Section 6.14 Undertaking for Costs
	 	 	24	 
	 
	 	 	 	 
	ARTICLE VII. TRUSTEE
	 	 	25	 
	Section 7.1 Duties of Trustee
	 	 	25	 
	Section 7.2 Rights of Trustee
	 	 	26	 
	Section 7.3 Individual Rights of Trustee
	 	 	27	 
	Section 7.4 Trustee’s Disclaimer
	 	 	27	 
	Section 7.5 Notice of Defaults
	 	 	28	 
	Section 7.6 Reports by Trustee to Holders
	 	 	28	 
	Section 7.7 Compensation and Indemnity
	 	 	28	 
	Section 7.8 Replacement of Trustee
	 	 	29	 
	Section 7.9 Successor Trustee by Merger, etc.
	 	 	30	 
	Section 7.10 Eligibility; Disqualification
	 	 	30	 
	Section 7.11 Preferential Collection of Claims Against Company
	 	 	30	 
	 
	 	 	 	 
	ARTICLE VIII. SATISFACTION AND DISCHARGE; DEFEASANCE
	 	 	30	 
	Section 8.1 Satisfaction and Discharge of Indenture
	 	 	30	 
	Section 8.2 Application of Trust Funds; Indemnification
	 	 	31	 
	Section 8.3 Legal Defeasance of Securities of any Series
	 	 	32	 
	Section 8.4 Covenant Defeasance
	 	 	33	 
	Section 8.5 Repayment to Company
	 	 	34	 
	Section 8.6 Reinstatement
	 	 	35	 
	 
	 	 	 	 
	ARTICLE IX. AMENDMENTS AND WAIVERS
	 	 	35	 
	Section 9.1 Without Consent of Holders
	 	 	35	 
	Section 9.2 With Consent of Holders
	 	 	35	 
	Section 9.3 Limitations
	 	 	36	 
	Section 9.4 Compliance with Trust Indenture Act
	 	 	37	 
	Section 9.5 Revocation and Effect of Consents
	 	 	37	 
	Section 9.6 Notation on or Exchange of Securities
	 	 	37	 
	Section 9.7 Trustee Protected
	 	 	37	 

ii

 

	 	 	 	 	 
	 	 	PAGE	 
	ARTICLE X. MISCELLANEOUS
	 	 	37	 
	Section 10.1 Trust Indenture Act Controls
	 	 	37	 
	Section 10.2 Notices
	 	 	38	 
	Section 10.3 Communication by Holders with Other Holders
	 	 	39	 
	Section 10.4 Certificate and Opinion as to Conditions Precedent
	 	 	39	 
	Section 10.5 Statements Required in Certificate or Opinion
	 	 	39	 
	Section 10.6 Rules by Trustee and Agents
	 	 	39	 
	Section 10.7 Legal Holidays
	 	 	40	 
	Section 10.8 No Recourse Against Others
	 	 	40	 
	Section 10.9 Counterparts
	 	 	40	 
	Section 10.10 Governing Laws
	 	 	40	 
	Section 10.11 No Adverse Interpretation of Other Agreements
	 	 	40	 
	Section 10.12 Successors
	 	 	40	 
	Section 10.13 Severability
	 	 	40	 
	Section 10.14 Table of Contents, Headings, Etc.
	 	 	41	 
	Section 10.15 Securities in a Foreign Currency
	 	 	41	 
	Section 10.16 Judgment Currency
	 	 	41	 
	Section 10.17 Force Majeure
	 	 	42	 
	 
	 	 	 	 
	ARTICLE XI. SINKING FUNDS
	 	 	42	 
	Section 11.1 Applicability of Article
	 	 	42	 
	Section 11.2 Satisfaction of Sinking Fund Payments with Securities
	 	 	42	 
	Section 11.3 Redemption of Securities for Sinking Fund
	 	 	43	 

iii

 

CORESITE REALTY CORPORATION

Reconciliation and tie between Trust Indenture Act of 1939 and

Indenture, dated as of __________ __, 20__

	 	 	 	 	 	 

	Section 310	(a)(1)	 	 	7.10	 
	 	(a)(2) 	 	 	7.10	 
	 	(a)(3) 	 	Not Applicable	 
	 	(a)(4) 	 	Not Applicable	 
	 	(a)(5) 	 	 	7.10	 
	 	(b) 	 	 	7.10	 
	Section 311	(a)	 	 	7.11	 
	 	(b) 	 	 	7.11	 
	 	(c) 	 	Not Applicable	 
	Section 312	(a)	 	 	2.6	 
	 	(b) 	 	 	10.3	 
	 	(c) 	 	 	10.3	 
	Section 313	(a)	 	 	7.6	 
	 	(b)(1) 	 	 	7.6	 
	 	(b)(2) 	 	 	7.6	 
	 	(c)(1) 	 	 	7.6	 
	 	(d) 	 	 	7.6	 
	Section 314	(a)	 	 	4.2, 10.5	 
	 	(b) 	 	Not Applicable	 
	 	(c)(1) 	 	 	10.4	 
	 	(c)(2) 	 	 	10.4	 
	 	(c)(3) 	 	Not Applicable	 
	 	(d) 	 	Not Applicable	 
	 	(e) 	 	 	10.5	 
	 	(f) 	 	Not Applicable	 
	Section 315	(a)	 	 	7.1	 
	 	(b) 	 	 	7.5	 
	 	(c) 	 	 	7.1	 
	 	(d) 	 	 	7.1	 
	 	(e) 	 	 	6.14	 
	Section 316	(a)	 	 	2.10	 
	 	(a)(1)(a) 	 	 	6.12	 
	 	(a)(1)(b) 	 	 	6.13	 
	 	(b) 	 	 	6.8	 
	Section 317	(a)(1)	 	 	6.3	 
	 	(a)(2) 	 	 	6.4	 
	 	(b) 	 	 	2.5	 
	Section 318	(a)	 	 	10.1	 

 

			
	Note:	 	This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture.

iv

 

          Indenture dated as of _______ ___, 20__ between CoreSite Realty Corporation, a Maryland
corporation (the “Company”) and [_________], as trustee (the “Trustee”).

          Each party agrees as follows for the benefit of the other party and for the equal and ratable
benefit of the Holders of the Securities issued under this Indenture.

ARTICLE I.

DEFINITIONS AND INCORPORATION BY REFERENCE

     Section 1.1 Definitions.

          “Additional Amounts” means any additional amounts which are required hereby or by any
Security, under circumstances specified herein or therein, to be paid by the Company in respect of
certain taxes imposed on Holders specified herein or therein and which are owing to such Holders.

          “Affiliate” of any specified person means any other person directly or indirectly controlling
or controlled by or under common control with such specified person. For the purposes of this
definition, “control” (including, with correlative meanings, the terms “controlled by” and “under
common control with”), as used with respect to any person, shall mean the possession, directly or
indirectly, of the power to direct or cause the direction of the management or policies of such
person, whether through the ownership of voting securities or by agreement or otherwise.

          “Agent” means any Registrar, Paying Agent or Service Agent.

          “Board of Directors” means the Board of Directors of the Company or any duly authorized
committee thereof.

          “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Company to have been adopted by the Board of Directors or pursuant to
authorization by the Board of Directors and to be in full force and effect on the date of the
certificate and delivered to the Trustee.

          “Business Day” means, unless otherwise provided by Board Resolution, Officer’s Certificate or
supplemental indenture hereto for a particular Series, any day except a Saturday, Sunday or a legal
holiday in The City of New York (or in connection with any payment, the place of payment) on which
banking institutions are authorized or required by law, regulation or executive order to close.

          “Capital Stock” means any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock.

          “Company” means the party named as such above until a successor replaces it and thereafter
means the successor.

          “Company Order” means a written order signed in the name of the Company by an Officer.

 

 

          “Corporate Trust Office” means the office of the Trustee at which at any particular time its
corporate trust business related to this Indenture shall be principally administered.

          “Default” means any event which is, or after notice or passage of time or both would be, an
Event of Default.

          “Depositary” means, with respect to the Securities of any Series issuable or issued in whole
or in part in the form of one or more Global Securities, the person designated as Depositary for
such Series by the Company, which Depositary shall be a clearing agency registered under the
Exchange Act; and if at any time there is more than one such person, “Depositary” as used with
respect to the Securities of any Series shall mean the Depositary with respect to the Securities of
such Series.

          “Discount Security” means any Security that provides for an amount less than the stated
principal amount thereof to be due and payable upon declaration of acceleration of the maturity
thereof pursuant to Section 6.2.

          “Dollars” and “$” means the currency of the United States of America.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended.

          “Foreign Currency” means any currency or currency unit issued by a government other than the
government of the United States of America.

          “Foreign Government Obligations” means, with respect to Securities of any Series that are
denominated in a Foreign Currency, direct obligations of, or obligations guaranteed by, the
government that issued or caused to be issued such currency for the payment of which obligations
its full faith and credit is pledged and which are not callable or redeemable at the option of the
issuer thereof.

          “GAAP” means accounting principles generally accepted in the United States of America set
forth in the opinions and pronouncements of the Accounting Principles Board of the American
Institute of Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board or in such other statements by such other entity as have been approved
by a significant segment of the accounting profession, which are in effect as of the date of
determination.

          “Global Security” or “Global Securities” means a Security or Securities, as the case may be,
in the form established pursuant to Section 2.2 evidencing all or part of a Series of Securities,
issued to the Depositary for such Series or its nominee, and registered in the name of such
Depositary or nominee.

          “Holder” or “Securityholder” means a person in whose name a Security is registered.

2

 

          “Indenture” means this Indenture as amended or supplemented, from time to time and shall
include the form and terms of particular Series of Securities established as contemplated
hereunder.

          “interest” with respect to any Discount Security which by its terms bears interest only after
Maturity, means interest payable after Maturity.

          “Maturity,” when used with respect to any Security, means the date on which the principal of
such Security becomes due and payable as therein or herein provided, whether at the Stated Maturity
or by declaration of acceleration, call for redemption or otherwise.

          “Officer” means the Chief Executive Officer, President, the Chief Financial Officer, the
Treasurer or any Assistant Treasurer, the Secretary or any Assistant Secretary, and any Vice
President of the Company.

          “Officer’s Certificate” means a certificate signed by any Officer.

          “Opinion of Counsel” means a written opinion of legal counsel who is acceptable to the
Trustee. The counsel may be an employee of or counsel to the Company.

          “person” means any individual, corporation, partnership, joint venture, association, limited
liability company, joint-stock company, trust, unincorporated organization or government or any
agency or political subdivision thereof.

          “principal” of a Security means the principal of the Security plus, when appropriate, the
premium, if any, on, and any Additional Amounts in respect of, the Security.

          “Responsible Officer” means any officer of the Trustee in its Corporate Trust Office having
responsibility for administration of this Indenture and also means, with respect to a particular
corporate trust matter, any other officer to whom any corporate trust matter is referred because of
his or her knowledge of and familiarity with a particular subject.

          “SEC” means the Securities and Exchange Commission.

          “Securities” means the debentures, notes or other debt instruments of the Company of any
Series authenticated and delivered under this Indenture.

          “Series” or “Series of Securities” means each series of debentures, notes or other debt
instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof.

          “Stated Maturity” when used with respect to any Security, means the date specified in such
Security as the fixed date on which the principal of such Security or interest is due and payable.

          “Subsidiary” of any specified person means any corporation, association or other business
entity of which more than 50% of the total voting power of shares of Capital Stock entitled
(without regard to the occurrence of any contingency) to vote in the election of directors,

3

 

managers or trustees thereof is at the time owned or controlled, directly or indirectly, by
such person or one or more of the other Subsidiaries of that person or a combination thereof.

          “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code Sections 77aaa-77bbbb) as in effect
on the date of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939
is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust
Indenture Act as so amended.

          “Trustee” means the person named as the “Trustee” in the first paragraph of this instrument
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean or include each person who is then a Trustee
hereunder, and if at any time there is more than one such person, “Trustee” as used with respect to
the Securities of any Series shall mean the Trustee with respect to Securities of that Series.

          “U.S. Government Obligations” means securities which are direct obligations of, or guaranteed
by, The United States of America for the payment of which its full faith and credit is pledged and
which are not callable or redeemable at the option of the issuer thereof, and shall also include a
depository receipt issued by a bank or trust company as custodian with respect to any such U.S.
Government Obligation or a specific payment of interest on or principal of any such U.S. Government
Obligation held by such custodian for the account of the holder of a depository receipt, provided
that (except as required by law) such custodian is not authorized to make any deduction from the
amount payable to the holder of such depository receipt from any amount received by the custodian
in respect of the U.S. Government Obligation evidenced by such depository receipt.

     Section 1.2 Other Definitions.

	 	 	 	 	 
	 	 	DEFINED IN	 
	TERM	 	SECTION	 
	“Bankruptcy Law”
	 	 	6.1	 
	“Custodian”
	 	 	6.1	 
	“Event of Default”
	 	 	6.1	 
	“Judgment Currency”
	 	 	10.16	 
	“Legal Holiday”
	 	 	10.7	 
	“mandatory sinking fund payment”
	 	 	11.1	 
	“Market Exchange Rate”
	 	 	10.15	 
	“New York Banking Day”
	 	 	10.16	 
	“Notice Agent”
	 	 	2.4	 
	“optional sinking fund payment”
	 	 	11.1	 
	“Paying Agent”
	 	 	2.4	 
	“Registrar”
	 	 	2.4	 
	“Required Currency”
	 	 	10.16	 
	“successor person”
	 	 	5.1	 

4

 

     Section 1.3 Incorporation by Reference of Trust Indenture Act.

          Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture. The following TIA terms used in this Indenture have
the following meanings:

          “Commission” means the SEC.

          “indenture securities” means the Securities.

          “indenture security holder” means a Securityholder.

          “indenture to be qualified” means this Indenture.

          “indenture trustee” or “institutional trustee” means the Trustee.

          “obligor” on the indenture securities means the Company and any successor obligor upon the
Securities.

          All other terms used in this Indenture that are defined by the TIA, defined by TIA reference
to another statute or defined by SEC rule under the TIA and not otherwise defined herein are used
herein as so defined.

     Section 1.4 Rules of Construction.

          Unless the context otherwise requires:

          (a) a term has the meaning assigned to it;

          (b) an accounting term not otherwise defined has the meaning assigned to it in accordance
with GAAP;

          (c) “or” is not exclusive;

          (d) words in the singular include the plural, and in the plural include the singular; and

          (e) provisions apply to successive events and transactions.

ARTICLE II.

THE SECURITIES

     Section 2.1 Issuable in Series.

          The aggregate principal amount of Securities that may be authenticated and delivered under
this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of
a Series shall be identical except as may be set forth or determined in the manner provided in a
Board Resolution, supplemental indenture or Officer’s Certificate detailing the adoption of the
terms thereof pursuant to authority granted under a Board Resolution. In the

5

 

case of Securities of a Series to be issued from time to time, the Board Resolution, Officer’s
Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to
authority granted under a Board Resolution may provide for the method by which specified terms
(such as interest rate, maturity date, record date or date from which interest shall accrue) are to
be determined. Securities may differ between Series in respect of any matters, provided that all
Series of Securities shall be equally and ratably entitled to the benefits of the Indenture.

     Section 2.2 Establishment of Terms of Series of Securities.

          At or prior to the issuance of any Securities within a Series, the following shall be
established (as to the Series generally, in the case of Subsection 2.2.1 and either as to such
Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through
2.2.24) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in
a Board Resolution, supplemental indenture hereto or Officer’s Certificate:

          2.2.1 the title (which shall distinguish the Securities of that particular Series from the
Securities of any other Series) and ranking (including the terms of any subordination provisions)
of the Series;

          2.2.2 the price or prices (expressed as a percentage of the principal amount thereof) at
which the Securities of the Series will be issued;

          2.2.3 any limit upon the aggregate principal amount of the Securities of the Series which
may be authenticated and delivered under this Indenture (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of
the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6);

          2.2.4 the date or dates on which the principal of the Securities of the Series is payable;

          2.2.5 the rate or rates (which may be fixed or variable) per annum or, if applicable, the
method used to determine such rate or rates (including, but not limited to, any commodity,
commodity index, stock exchange index or financial index) at which the Securities of the Series
shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the
date or dates on which such interest, if any, shall commence and be payable and any regular record
date for the interest payable on any interest payment date;

          2.2.6 the place or places where the principal of and interest, if any, on the Securities
of the Series shall be payable, where the Securities of such Series may be surrendered for
registration of transfer or exchange and where notices and demands to or upon the Company in
respect of the Securities of such Series and this Indenture may be delivered, and the method of
such payment, if by wire transfer, mail or other means;

          2.2.7 if applicable, the period or periods within which, the price or prices at which and
the terms and conditions upon which the Securities of the Series may be redeemed, in whole or in
part, at the option of the Company;

6

 

          2.2.8 the obligation, if any, of the Company to redeem or purchase the Securities of the
Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof
and the period or periods within which, the price or prices at which and the terms and conditions
upon which Securities of the Series shall be redeemed or purchased, in whole or in part, pursuant
to such obligation;

          2.2.9 the dates, if any, on which and the price or prices at which the Securities of the
Series will be repurchased by the Company at the option of the Holders thereof and other detailed
terms and provisions of such repurchase obligations;

          2.2.10 if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which the Securities of the Series shall be issuable;

          2.2.11 the forms of the Securities of the Series and whether the Securities will be
issuable as Global Securities;

          2.2.12 if other than the principal amount thereof, the portion of the principal amount of
the Securities of the Series that shall be payable upon declaration of acceleration of the maturity
thereof pursuant to Section 6.2;

          2.2.13 the currency of denomination of the Securities of the Series, which may be Dollars
or any Foreign Currency, and if such currency of denomination is a composite currency, the agency
or organization, if any, responsible for overseeing such composite currency;

          2.2.14 the designation of the currency, currencies or currency units in which payment of
the principal of and interest, if any, on the Securities of the Series will be made;

          2.2.15 if payments of principal of or interest, if any, on the Securities of the Series
are to be made in one or more currencies or currency units other than that or those in which such
Securities are denominated, the manner in which the exchange rate with respect to such payments
will be determined;

          2.2.16 the manner in which the amounts of payment of principal of or interest, if any, on
the Securities of the Series will be determined, if such amounts may be determined by reference to
an index based on a currency or currencies or by reference to a commodity, commodity index, stock
exchange index or financial index;

          2.2.17 the provisions, if any, relating to any security provided for the Securities of the
Series;

          2.2.18 any addition to, deletion of or change in from the Events of Default which applies
to any Securities of the Series and any change in the right of the Trustee or the requisite Holders
of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.2;

          2.2.19 any addition to, deletion of or change in the covenants set forth in Articles IV or
V which applies to Securities of the Series;

7

 

          2.2.20 any Depositaries, interest rate calculation agents, exchange rate calculation
agents or other agents with respect to Securities of such Series if other than those appointed
herein;

          2.2.21 the provisions, if any, relating to conversion or exchange of any Securities of
such Series, including if applicable, the conversion or exchange price, the conversion or exchange
period, provisions as to whether conversion or exchange will be mandatory, at the option of the
Holders thereof or at the option of the Company, the events requiring an adjustment of the
conversion or exchange price and provisions affecting conversion or exchange if such Series of
Securities are redeemed; and

          2.2.22 any other terms of the Series (which may supplement, modify or delete any provision
of this Indenture insofar as it applies to such Series), including any terms that may be required
under applicable law or regulations or advisable in connection with the marketing of Securities of
that Series.

          All Securities of any one Series need not be issued at the same time and may be issued from
time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the
Board Resolution, supplemental indenture hereto or Officer’s Certificate referred to above.

     Section 2.3 Execution and Authentication.

          An Officer shall sign the Securities for the Company by manual or facsimile signature.

          If an Officer whose signature is on a Security no longer holds that office at the time the
Security is authenticated, the Security shall nevertheless be valid.

          A Security shall not be valid until authenticated by the manual signature of the
Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security
has been authenticated under this Indenture.

          The Trustee shall at any time, and from time to time, authenticate Securities for original
issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or
Officer’s Certificate, upon receipt by the Trustee of a Company Order. Each Security shall be dated
the date of its authentication.

          The aggregate principal amount of Securities of any Series outstanding at any time may not
exceed any limit upon the maximum principal amount for such Series set forth in the Board
Resolution, supplemental indenture hereto or Officer’s Certificate delivered pursuant to Section
2.2, except as provided in Section 2.8.

          Prior to the issuance of Securities of any Series, the Trustee shall have received and
(subject to Section 7.2) shall be fully protected in relying on: (a) the Board Resolution,
supplemental indenture hereto or Officer’s Certificate establishing the form of the Securities of
that Series or of Securities within that Series and the terms of the Securities of that Series or
of

8

 

Securities within that Series, (b) an Officer’s Certificate complying with Section 10.4, and
(c) an Opinion of Counsel complying with Section 10.4.

          The Trustee shall have the right to decline to authenticate and deliver any Securities of such
Series: (a) if the Trustee, being advised by counsel, determines that such action may not be taken
lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive
committee or a trust committee of directors and/or vice-presidents or a committee of Responsible
Officers shall determine that such action would expose the Trustee to personal liability to Holders
of any then outstanding Series of Securities.

          The Trustee may appoint an authenticating agent acceptable to the Company to authenticate
Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so.
Each reference in this Indenture to authentication by the Trustee includes authentication by such
agent. An authenticating agent has the same rights as an Agent to deal with the Company or an
Affiliate of the Company.

     Section 2.4 Registrar and Paying Agent.

          The Company shall maintain, with respect to each Series of Securities, at the place or places
specified with respect to such Series pursuant to Section 2.2, an office or agency where Securities
of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities of
such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where
notices and demands to or upon the Company in respect of the Securities of such Series and this
Indenture may be delivered (“Notice Agent”). The Registrar shall keep a register with respect to
each Series of Securities and to their transfer and exchange. The Company will give prompt written
notice to the Trustee of the name and address, and any change in the name or address, of each
Registrar, Paying Agent or Notice Agent. If at any time the Company shall fail to maintain any such
required Registrar, Paying Agent or Notice Agent or shall fail to furnish the Trustee with the name
and address thereof, such presentations, surrenders, notices and demands may be made or served at
the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent
to receive all such presentations, surrenders, notices and demands.

          The Company may also from time to time designate one or more co-registrars, additional paying
agents or additional notice agents and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the Company of its
obligations to maintain a Registrar, Paying Agent and Notice Agent in each place so specified
pursuant to Section 2.2 for Securities of any Series for such purposes. The Company will give
prompt written notice to the Trustee of any such designation or rescission and of any change in the
name or address of any such co-registrar, additional paying agent or additional notice agent. The
term “Registrar” includes any co-registrar; the term “Paying Agent” includes any additional paying
agent; and the term “Notice Agent” includes any additional notice agent. The Company or any of its
Affiliates may serve as Registrar or Paying Agent.

9

 

          The Company hereby appoints the Trustee the initial Registrar, Paying Agent and Notice Agent
for each Series unless another Registrar, Paying Agent or Notice Agent, as the case may be, is
appointed prior to the time Securities of that Series are first issued.

     Section 2.5 Paying Agent to Hold Money in Trust.

          The Company shall require each Paying Agent other than the Trustee to agree in writing that
the Paying Agent will hold in trust, for the benefit of Securityholders of any Series of
Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or
interest on the Series of Securities, and will notify the Trustee in writing of any default by the
Company in making any such payment. While any such default continues, the Trustee may require a
Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a
Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the
Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further
liability for the money. If the Company or a Subsidiary of the Company acts as Paying Agent, it
shall segregate and hold in a separate trust fund for the benefit of Securityholders of any Series
of Securities all money held by it as Paying Agent. Upon any bankruptcy, reorganization or similar
proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Securities.

     Section 2.6 Securityholder Lists.

          The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of Securityholders of each Series of Securities and
shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar, the Company
shall furnish to the Trustee at least ten days before each interest payment date and at such other
times as the Trustee may request in writing a list, in such form and as of such date as the Trustee
may reasonably require, of the names and addresses of Securityholders of each Series of Securities.

     Section 2.7 Transfer and Exchange.

          Where Securities of a Series are presented to the Registrar or a co-registrar with a request
to register a transfer or to exchange them for an equal principal amount of Securities of the same
Series, the Registrar shall register the transfer or make the exchange if its requirements for such
transactions are met. To permit registrations of transfers and exchanges, the Trustee shall
authenticate Securities at the Registrar’s request. No service charge shall be made for any
registration of transfer or exchange (except as otherwise expressly permitted herein), but the
Company may require payment of a sum sufficient to cover any transfer tax or similar governmental
charge payable in connection therewith (other than any such transfer tax or similar governmental
charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6).

          Neither the Company nor the Registrar shall be required (a) to issue, register the transfer
of, or exchange Securities of any Series for the period beginning at the opening of business
fifteen days immediately preceding the mailing of a notice of redemption of Securities of that
Series selected for redemption and ending at the close of business on the day of such mailing, or
(b) to register the transfer of or exchange Securities of any Series selected, called or

10

 

being called for redemption as a whole or the portion being redeemed of any such Securities
selected, called or being called for redemption in part.

     Section 2.8 Mutilated, Destroyed, Lost and Stolen Securities.

          If any mutilated Security is surrendered to the Trustee, the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor a new Security of the same Series and
of like tenor and principal amount and bearing a number not contemporaneously outstanding.

          If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction
of the destruction, loss or theft of any Security and (ii) such security or indemnity bond as may
be required by each of them to hold itself and any of its agents harmless, then, in the absence of
notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser,
the Company shall execute and upon its request the Trustee shall authenticate and make available
for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same
Series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding.

          In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay
such Security.

          Upon the issuance of any new Security under this Section, the Company may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee) connected
therewith.

          Every new Security of any Series issued pursuant to this Section in lieu of any destroyed,
lost or stolen Security shall constitute an original additional contractual obligation of the
Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by
anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately
with any and all other Securities of that Series duly issued hereunder.

          The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost
or stolen Securities.

     Section 2.9 Outstanding Securities.

          The Securities outstanding at any time are all the Securities authenticated by the Trustee
except for those canceled by it, those delivered to it for cancellation, those reductions in the
interest on a Global Security effected by the Trustee in accordance with the provisions hereof and
those described in this Section as not outstanding.

          If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the
Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide
purchaser.

11

 

          If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of
the Company) holds on the Maturity of Securities of a Series money sufficient to pay such
Securities payable on that date, then on and after that date such Securities of the Series cease to
be outstanding and interest on them ceases to accrue.

          The Company may purchase or otherwise acquire the Securities, whether by open market
purchases, negotiated transactions or otherwise. A Security does not cease to be outstanding
because the Company or an Affiliate of the Company holds the Security.

          In determining whether the Holders of the requisite principal amount of outstanding Securities
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the
principal amount of a Discount Security that shall be deemed to be outstanding for such purposes
shall be the amount of the principal thereof that would be due and payable as of the date of such
determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.2.

     Section 2.10 Treasury Securities.

          In determining whether the Holders of the required principal amount of Securities of a Series
have concurred in any request, demand, authorization, direction, notice, consent or waiver,
Securities of a Series owned by the Company or any Affiliate of the Company shall be disregarded,
except that for the purposes of determining whether the Trustee shall be protected in relying on
any such request, demand, authorization, direction, notice, consent or waiver, only Securities of a
Series that a Responsible Officer of the Trustee knows are so owned shall be so disregarded.

     Section 2.11 Temporary Securities.

          Until definitive Securities are ready for delivery, the Company may prepare and the Trustee
shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be
substantially in the form of definitive Securities but may have variations that the Company
considers appropriate for temporary Securities. Without unreasonable delay, the Company shall
prepare and the Trustee upon receipt of a Company Order shall authenticate definitive Securities of
the same Series and date of maturity in exchange for temporary Securities. Until so exchanged,
temporary securities shall have the same rights under this Indenture as the definitive Securities.

     Section 2.12 Cancellation.

          The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar
and the Paying Agent shall forward to the Trustee any Securities surrendered to them for
registration of transfer, exchange or payment. The Trustee shall cancel all Securities surrendered
for transfer, exchange, payment, replacement or cancellation and shall destroy such canceled
Securities (subject to the record retention requirement of the Exchange Act and the Trustee) and
deliver a certificate of such cancellation to the Company upon written request of the Company. The
Company may not issue new Securities to replace Securities that it has paid or delivered to the
Trustee for cancellation.

12

 

     Section 2.13 Defaulted Interest.

          If the Company defaults in a payment of interest on a Series of Securities, it shall pay the
defaulted interest, plus, to the extent permitted by law, any interest payable on the defaulted
interest, to the persons who are Securityholders of the Series on a subsequent special record date.
The Company shall fix the special record date and payment date. At least 10 days before the special
record date, the Company shall mail to the Trustee and to each Securityholder of the Series a
notice that states the record date, the payment date and the amount of interest to be paid. The
Company may pay defaulted interest in any other lawful manner.

     Section 2.14 Global Securities.

          2.14.1 Terms of Securities. A Board Resolution, a supplemental indenture hereto or an
Officer’s Certificate shall establish whether the Securities of a Series shall be issued in whole
or in part in the form of one or more Global Securities and the Depositary for such Global Security
or Securities.

          2.14.2 Transfer and Exchange. Notwithstanding any provisions to the contrary contained in
Section 2.7 of the Indenture and in addition thereto, any Global Security shall be exchangeable
pursuant to Section 2.7 of the Indenture for Securities registered in the names of Holders other
than the Depositary for such Security or its nominee only if (i) such Depositary notifies the
Company that it is unwilling or unable to continue as Depositary for such Global Security or if at
any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in
either case, the Company fails to appoint a successor Depositary registered as a clearing agency
under the Exchange Act within 90 days of such event or (ii) the Company executes and delivers to
the Trustee an Officer’s Certificate to the effect that such Global Security shall be so
exchangeable. Any Global Security that is exchangeable pursuant to the preceding sentence shall be
exchangeable for Securities registered in such names as the Depositary shall direct in writing in
an aggregate principal amount equal to the principal amount of the Global Security with like tenor
and terms.

          Except as provided in this Section 2.14.2, a Global Security may not be transferred except as
a whole by the Depositary with respect to such Global Security to a nominee of such Depositary, by
a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the
Depositary or any such nominee to a successor Depositary or a nominee of such a successor
Depositary.

          2.14.3 Legend. Any Global Security issued hereunder shall bear a legend in substantially
the following form:

          “THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED
TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS SECURITY IS
EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS
NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE

13

 

DEPOSITARY, BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE
DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
A SUCCESSOR DEPOSITARY.”

          2.14.4 Acts of Holders. The Depositary, as a Holder, may appoint agents and otherwise
authorize participants to give or take any request, demand, authorization, direction, notice,
consent, waiver or other action which a Holder is entitled to give or take under the Indenture.

          2.14.5 Payments. Notwithstanding the other provisions of this Indenture, unless otherwise
specified as contemplated by Section 2.2, payment of the principal of and interest, if any, on any
Global Security shall be made to the Holder thereof.

          2.14.6 Consents, Declaration and Directions. The Company, the Trustee and any Agent shall
treat a person as the Holder of such principal amount of outstanding Securities of such Series
represented by a Global Security as shall be specified in a written statement of the Depositary or
by the applicable procedures of such Depositary with respect to such Global Security, for purposes
of obtaining any consents, declarations, waivers or directions required to be given by the Holders
pursuant to this Indenture.

     Section 2.15 CUSIP Numbers.

          The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and,
if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders;
provided that any such notice may state that no representation is made as to the correctness of
such numbers either as printed on the Securities or as contained in any notice of a redemption and
that reliance may be placed only on the other elements of identification printed on the Securities,
and any such redemption shall not be affected by any defect in or omission of such numbers.

ARTICLE III.

REDEMPTION

     Section 3.1 Notice to Trustee.

          The Company may, with respect to any Series of Securities, reserve the right to redeem and pay
the Series of Securities or may covenant to redeem and pay the Series of Securities or any part
thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such
Securities. If a Series of Securities is redeemable and the Company wants or is obligated to redeem
prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms
of such Securities, it shall notify the Trustee in writing of the redemption date and the principal
amount of Series of Securities to be redeemed. The Company shall give the notice at least 15 days
before the redemption date.

14

 

     Section 3.2 Selection of Securities to be Redeemed.

          Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental
indenture hereto or Officer’s Certificate, if less than all the Securities of a Series are to be
redeemed, the Trustee shall select the Securities of the Series to be redeemed in any manner that
the Trustee deems fair and appropriate, including by lot or other method, unless otherwise required
by law or applicable stock exchange requirements, subject, in the case of Global Securities, to the
applicable rules and procedures of the Depositary. The Trustee shall make the selection from
Securities of the Series outstanding not previously called for redemption. The Trustee may select
for redemption portions of the principal of Securities of the Series that have denominations larger
than $1,000. Securities of the Series and portions of them it selects shall be in amounts of $1,000
or whole multiples of $1,000 or, with respect to Securities of any Series issuable in other
denominations pursuant to Section 2.2.10, the minimum principal denomination for each Series and
the authorized integral multiples thereof. Provisions of this Indenture that apply to Securities of
a Series called for redemption also apply to portions of Securities of that Series called for
redemption.

     Section 3.3 Notice of Redemption.

          Unless otherwise indicated for a particular Series by Board Resolution, a supplemental
indenture hereto or an Officer’s Certificate, at least 15 days but not more than 60 days before a
redemption date, the Company shall mail a notice of redemption by first-class mail to each Holder
whose Securities are to be redeemed.

          The notice shall identify the Securities of the Series to be redeemed and shall state:

          (a) the redemption date;

          (b) the redemption price;

          (c) the name and address of the Paying Agent;

          (d) if any Securities are being redeemed in part, the portion of the principal amount of
such Securities to be redeemed and that, after the redemption date and upon surrender of such
Security, a new Security or Securities in principal amount equal to the unredeemed portion of the
original Security shall be issued in the name of the Holder thereof upon cancellation of the
original Security;

          (e) that Securities of the Series called for redemption must be surrendered to the Paying
Agent to collect the redemption price;

          (f) that interest on Securities of the Series called for redemption ceases to accrue on
and after the redemption date unless the Company defaults in the deposit of the redemption price;

          (g) the CUSIP number, if any; and

15

 

          (h) any other information as may be required by the terms of the particular Series or the
Securities of a Series being redeemed.

          At the Company’s request, the Trustee shall give the notice of redemption in the Company’s
name and at its expense, provided, however, that the Company has delivered to the Trustee, at least
10 days (unless a shorter time shall be acceptable to the Trustee) prior to the notice date, an
Officer’s Certificate requesting that the Trustee give such notice and setting forth the
information to be stated in such notice.

     Section 3.4 Effect of Notice of Redemption.

          Once notice of redemption is mailed as provided in Section 3.3, Securities of a Series called
for redemption become due and payable on the redemption date and at the redemption price. Except as
otherwise provided in the supplemental indenture, Board Resolution or Officer’s Certificate for a
Series, a notice of redemption may not be conditional. Upon surrender to the Paying Agent, such
Securities shall be paid at the redemption price plus accrued interest to the redemption date.

     Section 3.5 Deposit of Redemption Price.

          On or before 11:00 a.m., New York City time, on the redemption date, the Company shall deposit
with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any,
on all Securities to be redeemed on that date.

     Section 3.6 Securities Redeemed in Part.

          Upon surrender of a Security that is redeemed in part, the Trustee shall authenticate for the
Holder a new Security of the same Series and the same maturity equal in principal amount to the
unredeemed portion of the Security surrendered.

ARTICLE IV.

COVENANTS

     Section 4.1 Payment of Principal and Interest.

          The Company covenants and agrees for the benefit of the Holders of each Series of Securities
that it will duly and punctually pay the principal of and interest, if any, on the Securities of
that Series in accordance with the terms of such Securities and this Indenture. On or before 11:00
a.m., New York City time, on the applicable payment date, the Company shall deposit with the Paying
Agent money sufficient to pay the principal of and interest, if any, on the Securities of each
Series in accordance with the terms of such Securities and this Indenture.

     Section 4.2 SEC Reports.

          To the extent any Securities of a Series are outstanding, the Company shall deliver to the
Trustee within 15 days after it files them with the SEC copies of the annual reports and of the
information, documents, and other reports (or copies of such portions of any of the foregoing as
the SEC may by rules and regulations prescribe) which the Company is required to

16

 

file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company also shall
comply with the other provisions of TIA Section 314(a). Reports, information and documents filed
with the SEC via the EDGAR system will be deemed to be delivered to the Trustee as of the time of
such filing via EDGAR for purposes of this Section 4.2.

          Delivery
of reports, information and documents to the Trustee under this Section 4.2 are for
informational purposes only and the Trustee’s receipt of the foregoing shall not constitute
constructive or actual notice of any information contained therein or determinable from information
contained therein, including the Company’s compliance with any of its covenants hereunder (as to
which the Trustee is entitled to rely exclusively on an Officer’s Certificate).

     Section 4.3 Compliance Certificate.

          To the extent any Securities of a Series are outstanding, the Company shall deliver to the
Trustee, within 120 days after the end of each fiscal year of the Company, an Officer’s Certificate
stating that a review of the activities of the Company and its Subsidiaries during the preceding
fiscal year has been made under the supervision of the signing Officers with a view to determining
whether the Company has kept, observed, performed and fulfilled its obligations under this
Indenture, and further stating, as to each such Officer signing such certificate, that to the best
of his/her knowledge the Company has kept, observed, performed and fulfilled each and every
covenant contained in this Indenture and is not in default in the performance or observance of any
of the terms, provisions and conditions hereof (or, if a Default or Event of Default shall have
occurred, describing all such Defaults or Events of Default of which the Officer may have
knowledge).

          The Company will, so long as any of the Securities are outstanding, deliver to the Trustee,
promptly upon becoming aware of any Default or Event of Default, an Officer’s Certificate
specifying such Default or Event of Default and what action the Company is taking or proposes to
take with respect thereto.

     Section 4.4 Stay, Extension and Usury Laws.

          The Company covenants (to the extent that it may lawfully do so) that it will not at any time
insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any
stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may
affect the covenants or the performance of this Indenture or the Securities and the Company (to the
extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and
covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any
power herein granted to the Trustee, but will suffer and permit the execution of every such power
as though no such law has been enacted.

     Section 4.5 Corporate Existence.

          Subject to Article V, the Company will do or cause to be done all things necessary to preserve
and keep in full force and effect its corporate existence and rights (charter and statutory);
provided, however, that the Company shall not be required to preserve any such right if the Board
of Directors shall determine that the preservation thereof is no longer desirable in

17

 

the conduct of the business of the Company and its Subsidiaries taken as a whole and that the
loss thereof is not adverse in any material respect to the Holders.

ARTICLE V.

SUCCESSORS

     Section 5.1 When Company May Merge, Etc.

          The Company shall not consolidate with or merge with or into, or convey, transfer or lease all
or substantially all of its properties and assets to, any person (a “successor person”) unless:

          (a) the Company is the surviving entity or the successor person (if other than the
Company) is a corporation, partnership, trust or other entity organized and validly existing under
the laws of any U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the
Securities and under this Indenture; and

          (b) immediately after giving effect to the transaction, no Default or Event of Default,
shall have occurred and be continuing.

          The Company shall deliver to the Trustee prior to the consummation of the proposed transaction
an Officer’s Certificate to the foregoing effect and an Opinion of Counsel stating that the
proposed transaction and any supplemental indenture comply with this Indenture.

          Notwithstanding the above, any Subsidiary of the Company may consolidate with, merge into or
transfer all or part of its properties to the Company. Neither an Officer’s Certificate nor an
Opinion of Counsel shall be required to be delivered in connection therewith.

     Section 5.2 Successor Corporation Substituted.

          Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all
or substantially all of the assets of the Company in accordance with Section 5.1, the successor
corporation formed by such consolidation or into or with which the Company is merged or to which
such sale, lease, conveyance or other disposition is made shall succeed to, and be substituted for,
and may exercise every right and power of, the Company under this Indenture with the same effect as
if such successor person has been named as the Company herein; provided, however, that the
predecessor Company in the case of a sale, conveyance or other disposition (other than a lease)
shall be released from all obligations and covenants under this Indenture and the Securities.

ARTICLE VI.

DEFAULTS AND REMEDIES

     Section 6.1 Events of Default.

          “Event of Default,” wherever used herein with respect to Securities of any Series, means any
one of the following events, unless in the establishing Board Resolution,

18

 

supplemental indenture or Officer’s Certificate, it is provided that such Series shall not
have the benefit of said Event of Default:

          (a) default in the payment of any interest on any Security of that Series when it becomes
due and payable, and continuance of such default for a period of 30 days (unless the entire amount
of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to 11:00
a.m., New York City time, on the 30th day of such period); or

          (b) default in the payment of principal of any Security of that Series at its Maturity; or

          (c) default in the performance or breach of any covenant or warranty of the Company in
this Indenture (other than defaults pursuant to paragraphs (a) or (b) above or pursuant to a
covenant or warranty that has been included in this Indenture solely for the benefit of Series of
Securities other than that Series), which default continues uncured for a period of 60 days after
there has been given, by registered or certified mail, to the Company by the Trustee or to the
Company and the Trustee by the Holders of at least 25% in principal amount of the outstanding
Securities of that Series a written notice specifying such default or breach and requiring it to be
remedied and stating that such notice is a “Notice of Default” hereunder; or

          (d) the Company pursuant to or within the meaning of any Bankruptcy Law:

               (i) commences a voluntary case,

               (ii) consents to the entry of an order for relief against it in an involuntary case,

               (iii) consents to the appointment of a Custodian of it or for all or substantially all of
its property,

               (iv) makes a general assignment for the benefit of its creditors, or

               (v) generally is unable to pay its debts as the same become due; or

          (e) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law
that:

               (i) is for relief against the Company in an involuntary case,

               (ii) appoints a Custodian of the Company or for all or substantially all of its property,
or

               (iii) orders the liquidation of the Company, and the order or decree remains unstayed and
in effect for 60 days; or

          (f) any other Event of Default provided with respect to Securities of that Series, which
is specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, in
accordance with Section 2.2.18.

19

 

          The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law for
the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or
similar official under any Bankruptcy Law.

     Section 6.2 Acceleration of Maturity; Rescission and Annulment.

          If an Event of Default with respect to Securities of any Series at the time outstanding occurs
and is continuing (other than an Event of Default referred to in Section 6.1(d) or (e)), then in
every such case the Trustee or the Holders of not less than 25% in principal amount of the
outstanding Securities of that Series may declare the principal amount (or, if any Securities of
that Series are Discount Securities, such portion of the principal amount as may be specified in
the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities
of that Series to be due and payable immediately, by a notice in writing to the Company (and to the
Trustee if given by Holders), and upon any such declaration such principal amount (or specified
amount) and accrued and unpaid interest, if any, shall become immediately due and payable. If an
Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified
amount) of and accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto
become and be immediately due and payable without any declaration or other act on the part of the
Trustee or any Holder.

          At any time after such a declaration of acceleration with respect to any Series has been made
and before a judgment or decree for payment of the money due has been obtained by the Trustee as
hereinafter in this Article provided, the Holders of a majority in principal amount of the
outstanding Securities of that Series, by written notice to the Company and the Trustee, may
rescind and annul such declaration and its consequences if all Events of Default with respect to
Securities of that Series, other than the non-payment of the principal and interest, if any, of
Securities of that Series which have become due solely by such declaration of acceleration, have
been cured or waived as provided in Section 6.13.

          No such rescission shall affect any subsequent Default or impair any right consequent thereon.

     Section 6.3 Collection of Indebtedness and Suits for Enforcement by Trustee.

          The Company covenants that if

          (a) default is made in the payment of any interest on any Security when such interest
becomes due and payable and such default continues for a period of 30 days, or

          (b) default is made in the payment of principal of any Security at the Maturity thereof,
or

          (c) default is made in the deposit of any sinking fund payment, if any, when and as due by
the terms of a Security,

then, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of
such Securities, the whole amount then due and payable on such Securities for principal and
interest and, to the extent that payment of such interest shall be legally enforceable, interest on

20

 

any overdue principal and any overdue interest at the rate or rates prescribed therefor in such
Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs
and expenses of collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel.

          If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, may institute a judicial proceeding for the collection of
the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may
enforce the same against the Company or any other obligor upon such Securities and collect the
moneys adjudged or deemed to be payable in the manner provided by law out of the property of the
Company or any other obligor upon such Securities, wherever situated.

          If an Event of Default with respect to any Securities of any Series occurs and is continuing,
the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the
Holders of Securities of such Series by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any such rights, whether for the specific enforcement of
any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein,
or to enforce any other proper remedy.

     Section 6.4 Trustee May File Proofs of Claim.

          In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the
Company or any other obligor upon the Securities or the property of the Company or of such other
obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities
shall then be due and payable as therein expressed or by declaration or otherwise and irrespective
of whether the Trustee shall have made any demand on the Company for the payment of overdue
principal or interest) shall be entitled and empowered, by intervention in such proceeding or
otherwise,

          (a) to file and prove a claim for the whole amount of principal and interest owing and unpaid
in respect of the Securities and to file such other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of
the Holders allowed in such judicial proceeding, and

          (b) to collect and receive any moneys or other property payable or deliverable on any such
claims and to distribute the same,

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 7.7.

21

 

          Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or
composition affecting the Securities or the rights of any Holder thereof or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding.

     Section 6.5 Trustee May Enforce Claims Without Possession of Securities.

          All rights of action and claims under this Indenture or the Securities may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or the production thereof
in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be
brought in its own name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in
respect of which such judgment has been recovered.

     Section 6.6 Application of Money Collected.

          Any money or property collected by the Trustee pursuant to this Article shall be applied in
the following order, at the date or dates fixed by the Trustee and, in case of the distribution of
such money or property on account of principal or interest, upon presentation of the Securities and
the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid:

          First: To the payment of all amounts due the Trustee under Section 7.7; and

          Second: To the payment of the amounts then due and unpaid for principal of and interest on the
Securities in respect of which or for the benefit of which such money has been collected, ratably,
without preference or priority of any kind, according to the amounts due and payable on such
Securities for principal and interest, respectively; and

          Third: To the Company.

     Section 6.7 Limitation on Suits.

          No Holder of any Security of any Series shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or
trustee, or for any other remedy hereunder, unless

          (a) such Holder has previously given written notice to the Trustee of a continuing Event
of Default with respect to the Securities of that Series;

          (b) the Holders of not less than 25% in principal amount of the outstanding Securities of
that Series shall have made written request to the Trustee to institute proceedings in respect of
such Event of Default in its own name as Trustee hereunder;

          (c) such Holder or Holders have offered to the Trustee indemnity or security satisfactory
to the Trustee against the costs, expenses and liabilities which might be incurred by the Trustee
in compliance with such request;

22

 

          (d) the Trustee for 60 days after its receipt of such notice, request and offer of
indemnity has failed to institute any such proceeding; and

          (e) no direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in principal amount of the outstanding
Securities of that Series;

it being understood, intended and expressly covenanted by the Holder of every Security with every
other Holder and the Trustee that no one or more of such Holders shall have any right in any manner
whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or
prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in
the manner herein provided and for the equal and ratable benefit of all such Holders of the
applicable Series.

     Section 6.8 Unconditional Right of Holders to Receive Principal and Interest.

          Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal of and
interest, if any, on such Security on the Maturity of such Security, including the Stated Maturity
expressed in such Security (or, in the case of redemption, on the redemption date) and to institute
suit for the enforcement of any such payment, and such rights shall not be impaired without the
consent of such Holder.

     Section 6.9 Restoration of Rights and Remedies.

          If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has
been determined adversely to the Trustee or to such Holder, then and in every such case, subject to
any determination in such proceeding, the Company, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and
remedies of the Trustee and the Holders shall continue as though no such proceeding had been
instituted.

     Section 6.10 Rights and Remedies Cumulative.

          Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in Section 2.8, no right or remedy herein conferred upon or
reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not,
to the extent permitted by law, prevent the concurrent assertion or employment of any other
appropriate right or remedy.

23

 

     Section 6.11 Delay or Omission Not Waiver.

          No delay or omission of the Trustee or of any Holder of any Securities to exercise any right
or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a
waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by
this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

     Section 6.12 Control by Holders.

          The Holders of a majority in principal amount of the outstanding Securities of any Series
shall have the right to direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with
respect to the Securities of such Series, provided that

          (a) such direction shall not be in conflict with any rule of law or with this Indenture,

          (b) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction,

          (c) subject to the provisions of Section 6.1, the Trustee shall have the right to decline
to follow any such direction if the Trustee in good faith shall, by a Responsible Officer of the
Trustee, determine that the proceeding so directed would involve the Trustee in personal liability;
and

          (d) prior to taking any action as directed under this Section 6.12, the Trustee shall be
entitled to indemnity satisfactory to it against the costs, expenses and liabilities which might be
incurred by it in compliance with such request or direction.

     Section 6.13 Waiver of Past Defaults.

          The Holders of not less than a majority in principal amount of the outstanding Securities of
any Series may on behalf of the Holders of all the Securities of such Series waive any past Default
hereunder with respect to such Series and its consequences, except a Default in the payment of the
principal of or interest on any Security of such Series (provided, however, that the Holders of a
majority in principal amount of the outstanding Securities of any Series may rescind an
acceleration and its consequences, including any related payment default that resulted from such
acceleration). Upon any such waiver, such Default shall cease to exist, and any Event of Default
arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no
such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

     Section 6.14 Undertaking for Costs.

          All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof
shall be deemed to have agreed, that any court may in its discretion require, in

24

 

any suit for the enforcement of any right or remedy under this Indenture, or in any suit
against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any
party litigant in such suit of an undertaking to pay the costs of such suit, and that such court
may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any
party litigant in such suit, having due regard to the merits and good faith of the claims or
defenses made by such party litigant; but the provisions of this Section shall not apply to any
suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by
any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the
outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement
of the payment of the principal of or interest on any Security on or after the Maturity of such
Security, including the Stated Maturity expressed in such Security (or, in the case of redemption,
on the redemption date).

ARTICLE VII.

TRUSTEE

     Section 7.1 Duties of Trustee.

          (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the
rights and powers vested in it by this Indenture and use the same degree of care and skill in their
exercise as a prudent person would exercise or use under the circumstances in the conduct of such
person’s own affairs.

          (b) Except during the continuance of an Event of Default:

               (i) The Trustee need perform only those duties that are specifically set forth in this
Indenture and no others.

               (ii) In the absence of bad faith on its part, the Trustee may conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed therein, upon Officer’s
Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of
this Indenture; however, in the case of any such Officer’s Certificates or Opinions of Counsel
which by any provisions hereof are specifically required to be furnished to the Trustee, the
Trustee shall examine such Officer’s Certificates and Opinions of Counsel to determine whether or
not they conform to the form requirements of this Indenture.

          (c) The Trustee may not be relieved from liability for its own negligent action, its own
negligent failure to act or its own willful misconduct, except that:

               (i) This paragraph does not limit the effect of paragraph (b) of this Section.

               (ii) The Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the
pertinent facts.

               (iii) The Trustee shall not be liable with respect to any action taken, suffered or
omitted to be taken by it with respect to Securities of any Series in good faith in

25

 

accordance with the direction of the Holders of a majority in principal amount of the
outstanding Securities of such Series relating to the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon
the Trustee, under this Indenture with respect to the Securities of such Series in accordance with
Section 6.12.

          (d) Every provision of this Indenture that in any way relates to the Trustee is subject to
paragraph (a), (b) and (c) of this Section.

          (e) The Trustee may refuse to perform any duty or exercise any right or power unless it
receives indemnity satisfactory to it against the costs, expenses and liabilities which might be
incurred by it in performing such duty or exercising such right or power.

          (f) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law.

          (g) No provision of this Indenture shall require the Trustee to risk its own funds or
otherwise incur any financial liability in the performance of any of its duties, or in the exercise
of any of its rights or powers, if adequate indemnity against such risk is not assured to the
Trustee in its satisfaction.

          (h) The Paying Agent, the Registrar and any authenticating agent shall be entitled to the
protections and immunities as are set forth in paragraphs (e), (f) and (g) of this Section and in
Section 7.2, each with respect to the Trustee.

     Section 7.2 Rights of Trustee.

          (a) The Trustee may rely on and shall be protected in acting or refraining from acting
upon any document (whether in its original or facsimile form) believed by it to be genuine and to
have been signed or presented by the proper person. The Trustee need not investigate any fact or
matter stated in the document.

          (b) Before the Trustee acts or refrains from acting, it may require an Officer’s
Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it
takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of
Counsel.

          (c) The Trustee may act through agents and shall not be responsible for the misconduct or
negligence of any agent appointed with due care. No Depositary shall be deemed an agent of the
Trustee and the Trustee shall not be responsible for any act or omission by any Depositary.

          (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
which it believes to be authorized or within its rights or powers, provided that the Trustee’s
conduct does not constitute willful misconduct or negligence.

26

 

          (e) The Trustee may consult with counsel and the advice of such counsel or any Opinion of
Counsel shall be full and complete authorization and protection in respect of any action taken,
suffered or omitted by it hereunder without willful misconduct or negligence, and in reliance
thereon.

          (f) The Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders of Securities
unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it
against the costs, expenses and liabilities which might be incurred by it in compliance with such
request or direction.

          (g) The Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or
document, but the Trustee, in its discretion, may make such further inquiry or investigation into
such facts or matters as it may see fit.

          (h) The Trustee shall not be deemed to have notice of any Default or Event of Default
unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice
of any event which is in fact such a default is received by the Trustee at the Corporate Trust
Office of the Trustee, and such notice references the Securities generally or the Securities of a
particular Series and this Indenture.

          (i) In no event shall the Trustee be liable to any person for special, punitive, indirect,
consequential or incidental loss or damage of any kind whatsoever (including but not limited to
lost profits), even if the Trustee has been advised of the likelihood of such loss or damage.

          (j) The permissive right of the Trustee to take the actions permitted by this Indenture
shall not be construed as an obligation or duty to do so.

     Section 7.3 Individual Rights of Trustee.

          The Trustee in its individual or any other capacity may become the owner or pledgee of
Securities and may otherwise deal with the Company or an Affiliate of the Company with the same
rights it would have if it were not Trustee. Any Agent may do the same with like rights. The
Trustee is also subject to Sections 7.10 and 7.11.

     Section 7.4 Trustee’s Disclaimer.

          The Trustee makes no representation as to the validity or adequacy of this Indenture or the
Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities,
and it shall not be responsible for any statement in the Securities other than its authentication.

27

 

     Section 7.5 Notice of Defaults.

          If a Default or Event of Default occurs and is continuing with respect to the Securities of
any Series and if it is known to a Responsible Officer of the Trustee, the Trustee shall mail to
each Securityholder of the Securities of that Series notice of a Default or Event of Default within
90 days after it occurs or, if later, after a Responsible Officer of the Trustee has knowledge of
such Default or Event of Default. Except in the case of a Default or Event of Default in payment of
principal of or interest on any Security of any Series, the Trustee may withhold the notice if and
so long as its corporate trust committee or a committee of its Responsible Officers in good faith
determines that withholding the notice is in the interests of Securityholders of that Series.

     Section 7.6 Reports by Trustee to Holders.

          Within 60 days after May 15 in each year, the Trustee shall transmit by mail to all
Securityholders, as their names and addresses appear on the register kept by the Registrar a brief
report dated as of such May 15, in accordance with, and to the extent required under, TIA Section
313.

          A copy of each report at the time of its mailing to Securityholders of any Series shall be
filed with the SEC and each national securities exchange on which the Securities of that Series are
listed. The Company shall promptly notify the Trustee in writing when Securities of any Series are
listed on any national securities exchange.

     Section 7.7 Compensation and Indemnity.

          The Company shall pay to the Trustee from time to time compensation for its services as the
Company and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation
shall not be limited by any law on compensation of a trustee of an express trust. The Company shall
reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred by it. Such
expenses shall include the reasonable compensation and expenses of the Trustee’s agents and
counsel.

          The Company shall indemnify each of the Trustee and any predecessor Trustee (including the
cost of defending itself) against any cost, expense or liability, including taxes (other than taxes
based upon, measured by or determined by the income of the Trustee) incurred by it except as set
forth in the next paragraph in the performance of its duties under this Indenture as Trustee or
Agent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity.
Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations
hereunder, unless and to the extent that the Company is materially prejudiced thereby. The Company
shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one
separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The
Company need not pay for any settlement made without its consent, which consent will not be
unreasonably withheld. This indemnification shall apply to officers, directors, employees,
shareholders and agents of the Trustee.

28

 

          The Company need not reimburse any expense or indemnify against any loss or liability incurred
by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through
willful misconduct or negligence.

          To secure the Company’s payment obligations in this Section, the Trustee shall have a lien
prior to the Securities of any Series on all money or property held or collected by the Trustee,
except that held in trust to pay principal of and interest on particular Securities of that Series.

          When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.1(d) or (e) occurs, the expenses and the compensation for the services are intended to
constitute expenses of administration under any Bankruptcy Law.

          The provisions of this Section shall survive the termination of this Indenture.

     Section 7.8 Replacement of Trustee.

          A resignation or removal of the Trustee and appointment of a successor Trustee shall become
effective only upon the successor Trustee’s acceptance of appointment as provided in this Section.

          The Trustee may resign with respect to the Securities of one or more Series by so notifying
the Company at least 30 days prior to the date of the proposed resignation. The Holders of a
majority in principal amount of the Securities of any Series may remove the Trustee with respect to
that Series by so notifying the Trustee and the Company. The Company may remove the Trustee with
respect to Securities of one or more Series if:

          (a) the Trustee fails to comply with Section 7.10;

          (b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered
with respect to the Trustee under any Bankruptcy Law;

          (c) a Custodian or public officer takes charge of the Trustee or its property; or

          (d) the Trustee becomes incapable of acting.

          If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any
reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor
Trustee takes office, the Holders of a majority in principal amount of the then outstanding
Securities may appoint a successor Trustee to replace the successor Trustee appointed by the
Company.

          If a successor Trustee with respect to the Securities of any one or more Series does not take
office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the
Company or the Holders of at least a majority in principal amount of the Securities of the
applicable Series may petition any court of competent jurisdiction for the appointment of a
successor Trustee.

29

 

          A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all
property held by it as Trustee to the successor Trustee subject to the lien provided for in Section
7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor
Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of
Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a
notice of its succession to each Securityholder of each such Series. Notwithstanding replacement of
the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 hereof shall
continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred
by it for actions taken or omitted to be taken in accordance with its rights, powers and duties
under this Indenture prior to such replacement.

     Section 7.9 Successor Trustee by Merger, etc.

          If the Trustee consolidates with, merges or converts into, or transfers all or substantially
all of its corporate trust business to, another corporation, the successor corporation without any
further act shall be the successor Trustee.

     Section 7.10 Eligibility; Disqualification.

          This Indenture shall always have a Trustee who satisfies the requirements of TIA Section
310(a)(1), (2) and (5). The Trustee shall always have a combined capital and surplus of at least
$25,000,000 as set forth in its most recent published annual report of condition. The Trustee shall
comply with TIA Section 310(b), subject to Section 7.10.

     Section 7.11 Preferential Collection of Claims Against Company.

          The Trustee is subject to TIA Section 311(a), excluding any creditor relationship listed in
TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section
311(a) to the extent indicated.

ARTICLE VIII.

SATISFACTION AND DISCHARGE; DEFEASANCE

     Section 8.1 Satisfaction and Discharge of Indenture.

          This Indenture shall upon Company Order cease to be of further effect (except as hereinafter
provided in this Section 8.1), and the Trustee, at the expense of the Company, shall execute
instruments acknowledging satisfaction and discharge of this Indenture, when

          (a) either

               (i) all Securities theretofore authenticated and delivered (other than Securities that
have been destroyed, lost or stolen and that have been replaced or paid) have been delivered to the
Trustee for cancellation; or

               (ii) all such Securities not theretofore delivered to the Trustee for cancellation

30

 

                    (1) have become due and payable, or

                    (2) will become due and payable at their Stated Maturity within one year, or

                    (3) have been called for redemption or are to be called for redemption within one year
under arrangements satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Company, or

                    (4) are deemed paid and discharged pursuant to Section 8.3, as applicable;

and the Company, in the case of (1), (2) or (3) above, has irrevocably deposited or caused to be
deposited with the Trustee as trust funds in trust an amount sufficient for the purpose of paying
and discharging the entire indebtedness on such Securities not theretofore delivered to the Trustee
for cancellation, for principal and interest to the date of such deposit (in the case of Securities
which have become due and payable on or prior to the date of such deposit) or to the Stated
Maturity or redemption date, as the case may be;

          (b) the Company has paid or caused to be paid all other sums payable hereunder by the
Company; and

          (c) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture have been complied with.

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to
the Trustee under Section 7.7, and, if money shall have been deposited with the Trustee pursuant to
clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall survive.

     Section 8.2 Application of Trust Funds; Indemnification.

          (a) Subject to the provisions of Section 8.5, all money deposited with the Trustee
pursuant to Section 8.1, all money and U.S. Government Obligations or Foreign Government
Obligations deposited with the Trustee pursuant to Section 8.3 or 8.4 and all money received by the
Trustee in respect of U.S. Government Obligations or Foreign Government Obligations deposited with
the Trustee pursuant to Section 8.3 or 8.4, shall be held in trust and applied by it, in accordance
with the provisions of the Securities and this Indenture, to the payment, either directly or
through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may
determine, to the persons entitled thereto, of the principal and interest for whose payment such
money has been deposited with or received by the Trustee or to make mandatory sinking fund payments
or analogous payments as contemplated by Sections 8.3 or 8.4.

          (b) The Company shall pay and shall indemnify the Trustee against any tax, fee or other
charge imposed on or assessed against U.S. Government Obligations or Foreign

31

 

Government Obligations deposited pursuant to Sections 8.3 or 8.4 or the interest and principal
received in respect of such obligations other than any payable by or on behalf of Holders.

          (c) The Trustee shall deliver or pay to the Company from time to time upon Company Order
any U.S. Government Obligations or Foreign Government Obligations or money held by it as provided
in Sections 8.3 or 8.4 which, in the opinion of a nationally recognized firm of independent
certified public accountants or investment bank expressed in a written certification thereof
delivered to the Trustee, are then in excess of the amount thereof which then would have been
required to be deposited for the purpose for which such U.S. Government Obligations or Foreign
Government Obligations or money were deposited or received. This provision shall not authorize the
sale by the Trustee of any U.S. Government Obligations or Foreign Government Obligations held under
this Indenture.

     Section 8.3 Legal Defeasance of Securities of any Series.

          Unless this Section 8.3 is otherwise specified, pursuant to Section 2.2.20, to be inapplicable
to Securities of any Series, the Company shall be deemed to have paid and discharged the entire
indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the
deposit referred to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates
to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at
the expense of the Company, shall, upon receipt of a Company Order, execute instruments
acknowledging the same), except as to:

          (a) the rights of Holders of Securities of such Series to receive, from the trust funds
described in subparagraph (d) hereof, (i) payment of the principal of and each installment of
principal of and interest on the outstanding Securities of such Series on the Maturity of such
principal or installment of principal or interest and (ii) the benefit of any mandatory sinking
fund payments applicable to the Securities of such Series on the day on which such payments are due
and payable in accordance with the terms of this Indenture and the Securities of such Series;

          (b) the provisions of Sections 2.4, 2.7, 2.8, 8.2, 8.3 and 8.5; and

          (c) the rights, powers, trust and immunities of the Trustee hereunder and the Company’s
obligations in connection therewith;

provided that, the following conditions shall have been satisfied:

          (d) the Company shall have deposited or caused to be irrevocably deposited (except as
provided in Section 8.2(c)) with the Trustee as trust funds in trust for the purpose of making the
following payments, specifically pledged as security for and dedicated solely to the benefit of the
Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars,
cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such
Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign
Government Obligations, which through the payment of interest and principal in respect thereof in
accordance with their terms, will provide (and without reinvestment and assuming no tax liability
will be imposed on such Trustee), not later than one day before the due date of any payment of
money, an amount in cash, sufficient, in the opinion of a nationally

32

 

recognized firm of independent public accountants or investment bank expressed in a written
certification thereof delivered to the Trustee, to pay and discharge each installment of principal
of and interest, if any, on and any mandatory sinking fund payments in respect of all the
Securities of such Series on the dates such installments of interest or principal and such sinking
fund payments are due;

          (e) such deposit will not result in a breach or violation of, or constitute a default
under, this Indenture or any other agreement or instrument to which the Company is a party or by
which it is bound;

          (f) no Default or Event of Default with respect to the Securities of such Series shall
have occurred and be continuing on the date of such deposit or during the period ending on the 91st
day after such date;

          (g) the Company shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel to the effect that (i) the Company has received from, or there has been
published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this
Indenture, there has been a change in the applicable Federal income tax law, in either case to the
effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the
Securities of such Series will not recognize income, gain or loss for Federal income tax purposes
as a result of such deposit, defeasance and discharge and will be subject to Federal income tax on
the same amount and in the same manner and at the same times as would have been the case if such
deposit, defeasance and discharge had not occurred;

          (h) the Company shall have delivered to the Trustee an Officer’s Certificate stating that
the deposit was not made by the Company with the intent of defeating, hindering, delaying or
defrauding any other creditors of the Company; and

          (i) the Company shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for relating to the
defeasance contemplated by this Section have been complied with.

     Section 8.4 Covenant Defeasance.

          Unless this Section 8.4 is otherwise specified pursuant to Section 2.2.20 to be inapplicable
to Securities of any Series, the Company may omit to comply with respect to the Securities of any
Series with any term, provision or condition set forth under Sections 4.2, 4.3, 4.4, 4.5, and 5.1
as well as any additional covenants specified in a supplemental indenture for such Series of
Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2.20
(and the failure to comply with any such covenants shall not constitute a Default or Event of
Default with respect to such Series under Section 6.1) and the occurrence of any event specified in
a supplemental indenture for such Series of Securities or a Board Resolution or an Officer’s
Certificate delivered pursuant to Section 2.2.18 and designated as an Event of Default shall not
constitute a Default or Event of Default hereunder, with respect to the Securities of such Series,
provided that the following conditions shall have been satisfied:

33

 

          (a) With reference to this Section 8.4, the Company has deposited or caused to be
irrevocably deposited (except as provided in Section 8.2(c)) with the Trustee as trust funds in
trust for the purpose of making the following payments specifically pledged as security for, and
dedicated solely to, the benefit of the Holders of such Securities (i) in the case of Securities of
such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in
the case of Securities of such Series denominated in a Foreign Currency (other than a composite
currency), money and/or Foreign Government Obligations, which through the payment of interest and
principal in respect thereof in accordance with their terms, will provide (and without reinvestment
and assuming no tax liability will be imposed on such Trustee), not later than one day before the
due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally
recognized firm of independent certified public accountants or investment bank expressed in a
written certification thereof delivered to the Trustee, to pay and discharge each installment of
principal of and interest, if any, on and any mandatory sinking fund payments in respect of the
Securities of such Series on the dates such installments of interest or principal and such sinking
fund payments are due;

          (b) Such deposit will not result in a breach or violation of, or constitute a default
under, this Indenture or any other agreement or instrument to which the Company is a party or by
which it is bound;

          (c) No Default or Event of Default with respect to the Securities of such Series shall
have occurred and be continuing on the date of such deposit;

          (d) The Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that Holders of the Securities of such Series will not recognize income, gain or loss for federal
income tax purposes as a result of such deposit and covenant defeasance and will be subject to
federal income tax on the same amounts, in the same manner and at the same times as would have been
the case if such deposit and covenant defeasance had not occurred;

          (e) The Company shall have delivered to the Trustee an Officer’s Certificate stating the
deposit was not made by the Company with the intent of defeating, hindering, delaying or defrauding
any other creditors of the Company; and

          (f) The Company shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the
covenant defeasance contemplated by this Section have been complied with.

     Section 8.5 Repayment to Company.

          Subject to applicable abandoned property law, the Trustee and the Paying Agent shall pay to
the Company upon request any money held by them for the payment of principal and interest that
remains unclaimed for two years. After that, Securityholders entitled to the money must look to the
Company for payment as general creditors unless an applicable abandoned property law designates
another person.

34

 

     Section 8.6 Reinstatement.

          If the Trustee or the Paying Agent is unable to apply any money deposited with respect to
Securities of any Series in accordance with Section 8.1 by reason of any legal proceeding or by
reason of any order or judgment of any court or governmental authority enjoining, restraining or
otherwise prohibiting such application, the obligations of the Company under this Indenture with
respect to the Securities of such Series and under the Securities of such Series shall be revived
and reinstated as though no deposit had occurred pursuant to Section 8.1 until such time as the
Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 8.1;
provided, however, that if the Company has made any payment of principal of or interest on or any
Additional Amounts with respect to any Securities because of the reinstatement of its obligations,
the Company shall be subrogated to the rights of the Holders of such Securities to receive such
payment from the money held by the Trustee or Paying Agent.

ARTICLE IX.

AMENDMENTS AND WAIVERS

     Section 9.1 Without Consent of Holders.

          The Company and the Trustee may amend or supplement this Indenture or the Securities of one or
more Series without the consent of any Securityholder:

          (a) to cure any ambiguity, defect or inconsistency;

          (b) to comply with Article V;

          (c) to provide for uncertificated Securities in addition to or in place of certificated
Securities;

          (d) to make any change that does not adversely affect the rights of any Securityholder;

          (e) to provide for the issuance of and establish the form and terms and conditions of
Securities of any Series as permitted by this Indenture;

          (f) to evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Securities of one or more Series and to add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one Trustee; or

          (g) to comply with requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the TIA.

     Section 9.2 With Consent of Holders.

          The Company and the Trustee may enter into a supplemental indenture with the written consent
of the Holders of at least a majority in principal amount of the outstanding Securities of each
Series affected by such supplemental indenture (including consents obtained in

35

 

connection with a tender offer or exchange offer for the Securities of such Series), for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the
Securityholders of each such Series. Except as provided in Section 6.13, the Holders of at least a
majority in principal amount of the outstanding Securities of any Series by notice to the Trustee
(including consents obtained in connection with a tender offer or exchange offer for the Securities
of such Series) may waive compliance by the Company with any provision of this Indenture or the
Securities with respect to such Series.

          It shall not be necessary for the consent of the Holders of Securities under this Section 9.2
to approve the particular form of any proposed supplemental indenture or waiver, but it shall be
sufficient if such consent approves the substance thereof. After a supplemental indenture or waiver
under this section becomes effective, the Company shall mail to the Holders of Securities affected
thereby, a notice briefly describing the supplemental indenture or waiver. Any failure by the
Company to mail or publish such notice, or any defect therein, shall not, however, in any way
impair or affect the validity of any such supplemental indenture or waiver.

     Section 9.3 Limitations.

          Without the consent of each Securityholder affected, an amendment or waiver may not:

          (a) reduce the principal amount of Securities whose Holders must consent to an amendment,
supplement or waiver;

          (b) reduce the rate of or extend the time for payment of interest (including default
interest) on any Security;

          (c) reduce the principal or change the Stated Maturity of any Security or reduce the
amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation;

          (d) reduce the principal amount of Discount Securities payable upon acceleration of the
maturity thereof;

          (e) waive a Default or Event of Default in the payment of the principal of or interest, if
any, on any Security (except a rescission of acceleration of the Securities of any Series by the
Holders of at least a majority in principal amount of the outstanding Securities of such Series and
a waiver of the payment default that resulted from such acceleration);

          (f) make the principal of or interest, if any, on any Security payable in any currency
other than that stated in the Security;

          (g) make any change in Sections 6.8, 6.13 or 9.3 (this sentence); or

          (h) waive a redemption payment with respect to any Security, provided that such redemption
is made at the Company’s option.

36

 

     Section 9.4 Compliance with Trust Indenture Act.

          Every amendment to this Indenture or the Securities of one or more Series shall be set forth
in a supplemental indenture hereto that complies with the TIA as then in effect.

     Section 9.5 Revocation and Effect of Consents.

          Until an amendment is set forth in a supplemental indenture or a waiver becomes effective, a
consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent
Holder of a Security or portion of a Security that evidences the same debt as the consenting
Holder’s Security, even if notation of the consent is not made on any Security. However, any such
Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if
the Trustee receives the notice of revocation before the date of the supplemental indenture or the
date the waiver becomes effective.

          Any amendment or waiver once effective shall bind every Securityholder of each Series affected
by such amendment or waiver unless it is of the type described in any of clauses (a) through (h) of
Section 9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has
consented to it and every subsequent Holder of a Security or portion of a Security that evidences
the same debt as the consenting Holder’s Security.

     Section 9.6 Notation on or Exchange of Securities.

          The Trustee may place an appropriate notation about an amendment or waiver on any Security of
any Series thereafter authenticated. The Company in exchange for Securities of that Series may
issue and the Trustee shall authenticate upon request new Securities of that Series that reflect
the amendment or waiver.

     Section 9.7 Trustee Protected.

          In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trusts created by this Indenture, the
Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in
relying upon, an Officer’s Certificate or an Opinion of Counsel or both stating that the execution
of such supplemental indenture is authorized or permitted by this Indenture. The Trustee shall sign
all supplemental indentures authorized or permitted by this Indenture, except that the Trustee need
not sign any supplemental indenture that adversely affects its rights.

ARTICLE X.

MISCELLANEOUS

     Section 10.1 Trust Indenture Act Controls.

          If any provision of this Indenture limits, qualifies, or conflicts with another provision
which is required or deemed to be included in this Indenture by the TIA, such required or deemed
provision shall control.

37

 

     Section 10.2 Notices.

          Any notice or communication by the Company or the Trustee to the other, or by a Holder to the
Company or the Trustee, is duly given if in writing and delivered in person or mailed by
first-class mail:

if to the Company:

CoreSite Realty Corporation

1050 17th Street, Suite 800

Denver, Colorado 80265

Attention: General Counsel

Telephone: (866) 777-2673

with a copy to:

Latham & Watkins LLP

555 Eleventh Street, NW

Washington, District of Columbia 20004

Attention: Patrick H. Shannon, Esq.

Telephone: (202) 637-1028

if to the Trustee:

	 	 	 	 	 

	 
	 	 
	 
	 	 	 	 
	 
	 	 
	 
	 	 
	Attention:
	 	 	 	 
	 

	 	 	 	 
	Telephone:
	 	 	 	 
	 

	 	 	 	 
	Facsimile:
	 	 	 	 
	 

	 	 	 	 

The Company or the Trustee by notice to the other may designate additional or different addresses
for subsequent notices or communications.

          Any notice or communication to a Securityholder shall be mailed by first-class mail to his
address shown on the register kept by the Registrar. Failure to mail a notice or communication to a
Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to
other Securityholders of that or any other Series.

          If a notice or communication is mailed or published in the manner provided above, within the
time prescribed, it is duly given, whether or not the Securityholder receives it.

          If the Company or any Guarantor mails a notice or communication to Securityholders, it shall
mail a copy to the Trustee and each Agent at the same time.

          Notwithstanding any other provision of this Indenture or any Security, where this Indenture or
any Security provides for notice of any event (including any notice of redemption) to a Holder of a
Global Security (whether by mail or otherwise), such notice shall be sufficiently

38

 

given to the Depositary for such Security (or its designee) pursuant to the customary
procedures of such Depositary.

     Section 10.3 Communication by Holders with Other Holders.

          Securityholders of any Series may communicate pursuant to TIA Section 312(b) with other
Securityholders of that Series or any other Series with respect to their rights under this
Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar
and anyone else shall have the protection of TIA Section 312(c).

     Section 10.4 Certificate and Opinion as to Conditions Precedent.

          Upon any request or application by the Company to the Trustee to take any action under this
Indenture, the Company shall furnish to the Trustee:

          (a) an Officer’s Certificate stating that, in the opinion of the signers, all conditions
precedent, if any, provided for in this Indenture relating to the proposed action have been
complied with; and

          (b) an Opinion of Counsel stating that, in the opinion of such counsel, all such
conditions precedent have been complied with.

     Section 10.5 Statements Required in Certificate or Opinion.

          Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to TIA Section 314(a)(4)) shall
comply with the provisions of TIA Section 314(e) and shall include:

          (a) a statement that the person making such certificate or opinion has read such covenant
or condition;

          (b) a brief statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such certificate or opinion are based;

          (c) a statement that, in the opinion of such person, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not
such covenant or condition has been complied with; and

          (d) a statement as to whether or not, in the opinion of such person, such condition or
covenant has been complied with.

     Section 10.6 Rules by Trustee and Agents.

          The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or
more Series. Any Agent may make reasonable rules and set reasonable requirements for its functions.

39

 

     Section 10.7 Legal Holidays.

          Unless otherwise provided by Board Resolution, Officer’s Certificate or supplemental indenture
hereto for a particular Series, a “Legal Holiday” is any day that is not a Business Day. If a
payment date is a Legal Holiday at a place of payment, payment may be made at that place on the
next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening
period.

     Section 10.8 No Recourse Against Others.

          A director, officer, employee or stockholder (past or present), as such, of the Company shall
not have any liability for any obligations of the Company under the Securities or the Indenture or
for any claim based on, in respect of or by reason of such obligations or their creation. Each
Securityholder by accepting a Security waives and releases all such liability. The waiver and
release are part of the consideration for the issue of the Securities.

     Section 10.9 Counterparts.

          This Indenture may be executed in any number of counterparts and by the parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement.

     Section 10.10 Governing Laws.

          THIS INDENTURE AND THE SECURITIES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR
RELATING TO THE INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER
THAN THE LAW OF THE STATE OF NEW YORK.

     Section 10.11 No Adverse Interpretation of Other Agreements.

          This Indenture may not be used to interpret another indenture, loan or debt agreement of the
Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used
to interpret this Indenture.

     Section 10.12 Successors.

          All agreements of the Company in this Indenture and the Securities shall bind its successor.
All agreements of the Trustee in this Indenture shall bind its successor.

     Section 10.13 Severability.

          In case any provision in this Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

40

 

     Section 10.14 Table of Contents, Headings, Etc.

          The Table of Contents, Cross-Reference Table, and headings of the Articles and Sections of
this Indenture have been inserted for convenience of reference only, are not to be considered a
part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

     Section 10.15 Securities in a Foreign Currency.

          Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an
Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a
particular Series of Securities, whenever for purposes of this Indenture any action may be taken by
the Holders of a specified percentage in aggregate principal amount of Securities of all Series or
all Series affected by a particular action at the time outstanding and, at such time, there are
outstanding Securities of any Series which are denominated in more than one currency, then the
principal amount of Securities of such Series which shall be deemed to be outstanding for the
purpose of taking such action shall be determined by converting any such other currency into a
currency that is designated upon issuance of any particular Series of Securities. Unless otherwise
specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate
delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of
Securities, such conversion shall be at the spot rate for the purchase of the designated currency
as published in The Financial Times in the “Currency Rates” section (or, if The Financial Times is
no longer published, or if such information is no longer available in The Financial Times, such
source as may be selected in good faith by the Company) on any date of determination. The
provisions of this paragraph shall apply in determining the equivalent principal amount in respect
of Securities of a Series denominated in currency other than Dollars in connection with any action
taken by Holders of Securities pursuant to the terms of this Indenture.

          All decisions and determinations provided for in the preceding paragraph shall, in the absence
of manifest error, to the extent permitted by law, be conclusive for all purposes and irrevocably
binding upon the Trustee and all Holders.

     Section 10.16 Judgment Currency.

          The Company agrees, to the fullest extent that it may effectively do so under applicable law,
that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum
due in respect of the principal of or interest or other amount on the Securities of any Series (the
“Required Currency”) into a currency in which a judgment will be rendered (the “Judgment
Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking
procedures the Trustee could purchase in The City of New York the Required Currency with the
Judgment Currency on the day on which final unappealable judgment is entered, unless such day is
not a New York Banking Day, then the rate of exchange used shall be the rate at which in accordance
with normal banking procedures the Trustee could purchase in The City of New York the Required
Currency with the Judgment Currency on the New York Banking Day preceding the day on which final
unappealable judgment is entered and (b) its obligations under this Indenture to make payments in
the Required Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant
to any judgment (whether or not

41

 

entered in accordance with subsection (a)), in any currency other than the Required Currency,
except to the extent that such tender or recovery shall result in the actual receipt, by the payee,
of the full amount of the Required Currency expressed to be payable in respect of such payments,
(ii) shall be enforceable as an alternative or additional cause of action for the purpose of
recovering in the Required Currency the amount, if any, by which such actual receipt shall fall
short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not
be affected by judgment being obtained for any other sum due under this Indenture. For purposes of
the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in
The City of New York on which banking institutions are authorized or required by law, regulation or
executive order to close.

     Section 10.17 Force Majeure.

          In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts
of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services, it being understood that the Trustee shall use reasonable best efforts which
are consistent with accepted practices in the banking industry to resume performance as soon as
practicable under the circumstances.

ARTICLE XI.

SINKING FUNDS

     Section 11.1 Applicability of Article.

          The provisions of this Article shall be applicable to any sinking fund for the retirement of
the Securities of a Series if so provided by the terms of such Securities pursuant to Section 2.2
and except as otherwise permitted or required by any form of Security of such Series issued
pursuant to this Indenture.

          The minimum amount of any sinking fund payment provided for by the terms of the Securities of
any Series is herein referred to as a “mandatory sinking fund payment” and any other amount
provided for by the terms of Securities of such Series is herein referred to as an “optional
sinking fund payment.” If provided for by the terms of Securities of any Series, the cash amount of
any sinking fund payment may be subject to reduction as provided in Section 11.2. Each sinking fund
payment shall be applied to the redemption of Securities of any Series as provided for by the terms
of the Securities of such Series.

     Section 11.2 Satisfaction of Sinking Fund Payments with Securities.

          The Company may, in satisfaction of all or any part of any sinking fund payment with respect
to the Securities of any Series to be made pursuant to the terms of such Securities (1) deliver
outstanding Securities of such Series to which such sinking fund payment is applicable (other than
any of such Securities previously called for mandatory sinking fund redemption) and (2) apply as
credit Securities of such Series to which such sinking fund payment

42

 

is applicable and which have been repurchased by the Company or redeemed either at the
election of the Company pursuant to the terms of such Series of Securities (except pursuant to any
mandatory sinking fund) or through the application of permitted optional sinking fund payments or
other optional redemptions pursuant to the terms of such Securities, provided that such Securities
have not been previously so credited. Such Securities shall be received by the Trustee, together
with an Officer’s Certificate with respect thereto, not later than 15 days prior to the date on
which the Trustee begins the process of selecting Securities for redemption, and shall be credited
for such purpose by the Trustee at the price specified in such Securities for redemption through
operation of the sinking fund and the amount of such sinking fund payment shall be reduced
accordingly. If as a result of the delivery or credit of Securities in lieu of cash payments
pursuant to this Section 11.2, the principal amount of Securities of such Series to be redeemed in
order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call
Securities of such Series for redemption, except upon receipt of a Company Order that such action
be taken, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the
next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent
shall from time to time upon receipt of a Company Order pay over and deliver to the Company any
cash payment so being held by the Trustee or such Paying Agent upon delivery by the Company to the
Trustee of Securities of that Series purchased by the Company having an unpaid principal amount
equal to the cash payment required to be released to the Company.

     Section 11.3 Redemption of Securities for Sinking Fund.

          Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental
indenture hereto or Officer’s Certificate in respect of a particular Series of Securities) prior to
each sinking fund payment date for any Series of Securities, the Company will deliver to the
Trustee an Officer’s Certificate specifying the amount of the next ensuing mandatory sinking fund
payment for that Series pursuant to the terms of that Series, the portion thereof, if any, which is
to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by
delivering and crediting of Securities of that Series pursuant to Section 11.2, and the optional
amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the
Company shall thereupon be obligated to pay the amount therein specified. Not less than 30 days
(unless otherwise indicated in the Board Resolution, Officer’s Certificate or supplemental
indenture in respect of a particular Series of Securities) before each such sinking fund payment
date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in
the manner specified in Section 3.2 and cause notice of the redemption thereof to be given in the
name of and at the expense of the Company in the manner provided in Section 3.3. Such notice having
been duly given, the redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 3.4, 3.5 and 3.6.

43

 

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

	 	 	 	 	 
	 	CoreSite Realty Corporation

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[          ], as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

SIGNATURE PAGE TO INDENTURE

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}]]