Document:

EX-10.1

 Exhibit 10.1 

EMPIRE STATE REALTY OP, L.P. 

2.625% Exchangeable Senior Notes due 2019 

Registration Rights Agreement 

August 12, 2014 
 Goldman, Sachs &
Co. 
 200 West Street, 
 New York, New York 10282-2198 

Ladies and Gentlemen: 
 Empire State Realty OP,
L.P. (the “Operating Partnership”), proposes to issue and sell to you (the “Initial Purchaser”), its 2.625% Exchangeable Senior Notes due 2019 (the “Notes”), upon the terms set forth in the Purchase
Agreement by and among the Operating Partnership, Empire State Realty Trust, Inc. (the “Company”) and the Initial Purchaser, dated August 6, 2014 (the “Purchase Agreement”), relating to the initial placement (the
“Initial Placement”) of the Notes. In certain circumstances, upon an exchange of Notes at the option of the holder thereof, the Operating Partnership will be required to deliver cash, shares of common stock of the Company, par value
$0.01 per share (the “Company Common Stock”) or a combination of cash and shares of Company Common Stock, at the election of the Operating Partnership. To induce the Initial Purchaser to enter into the Purchase Agreement and to
satisfy its obligations thereunder, the holders of the Notes will have the benefit of this registration rights agreement (this “Agreement”) by and among the Operating Partnership, the Company and the Initial Purchaser whereby the
Company agrees with you for your benefit and the benefit of the holders from time to time of the Notes and the Registrable Securities (including the Initial Purchaser) (each a “Holder” and, collectively, the
“Holders”), as follows: 
 1. Definitions. Capitalized terms used but not defined herein shall have their respective
meanings set forth in the Purchase Agreement. As used in this Agreement, the following capitalized defined terms shall have the following meanings: 

“Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated
thereunder. 
 “Additional Interest” shall have the meaning set forth in Section 7 hereof. 

“Affiliate” shall have the meaning specified in Rule 405 under the Act. 

“Automatic Shelf Registration Statement” shall mean a Shelf Registration Statement filed by a Well-Known Seasoned Issuer
which shall become effective upon filing thereof pursuant to General Instruction I.D for Form S-3. 

 “Broker-Dealer” shall mean any broker or dealer registered as such under the
Exchange Act. 
 “Business Day” shall mean any day other than a Saturday, a Sunday or a legal holiday or a day on which
banking institutions or trust companies are authorized or obligated by law to close in New York City. 
 “Close of
Business” shall have the meaning specified in the Indenture. 
 “Closing Date” shall mean the date of the first
issuance of the Notes. 
 “Company” shall have the meaning set forth in the preamble hereto. 

“Company Common Stock” shall have the meaning set forth in the preamble hereto. 

“Commission” shall mean the Securities and Exchange Commission. 

“Control” shall have the meaning specified in Rule 405 under the Act and the terms “controlling” and
“controlled” shall have meanings correlative thereto. 
 “Deferral Period” shall have the meaning
indicated in Section 3(i) hereof. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the Commission promulgated thereunder. 
 “Exchange Price” shall have the meaning specified in
the Indenture. 
 “Final Offering Circular” shall mean the offering circular, dated August 7, 2014, relating to the
Notes, including any and all annexes thereto and any information incorporated by reference therein as of such date. 
 “FINRA
Rules” shall mean the Conduct Rules and the By-Laws of the Financial Industry Regulatory Authority. 
 “Holder”
shall have the meaning set forth in the preamble hereto. 
 “Indenture” shall mean the Indenture relating to the Notes,
dated as of August 12, 2014, by and among the Operating Partnership, the Company and Wilmington Trust, National Association, as trustee, as the same may be amended from time to time in accordance with the terms thereof. 

“Initial Placement” shall have the meaning set forth in the preamble hereto. 

“Initial Purchaser” shall have the meaning set forth in the preamble hereto. 

“Losses” shall have the meaning set forth in Section 5(d) hereof. 

“Majority Holders” shall mean, on any date, Holders of a majority of the shares of Company Common Stock that are registered
under the Shelf Registration Statement. 

  
 2 

 “Managing Underwriters” shall mean the investment banker or investment bankers
and manager or managers that administer an underwritten offering, if any, conducted pursuant to Section 6 hereof. 
 “Maturity
Date” shall have the meaning specified in the Indenture. 
 “Notes” shall have the meaning set forth in the
preamble hereto. 
 “Notice and Questionnaire” shall mean a written notice delivered to the Company substantially in the
form attached as Annex A to the Final Offering Circular. 
 “Notice Holder” shall mean, on any date, any Holder that has
delivered a Notice and Questionnaire to the Company on or prior to such date. 
 “Operating Partnership” shall have the
meaning set forth in the preamble hereto. 
 “Prospectus” shall mean a prospectus included in the Shelf Registration
Statement (including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A or Rule 430B under the Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Company Common Stock covered by the Shelf Registration Statement, and all amendments and supplements thereto, including any and all exhibits
thereto and any information incorporated by reference therein. 
 “Purchase Agreement” shall have the meaning set forth in
the preamble hereto. 
 “Registrable Securities” shall mean shares of Company Common Stock, if any, deliverable by the
Operating Partnership upon exchange of the Notes initially sold to the Initial Purchaser pursuant to the Purchase Agreement other than such shares of Company Common Stock that have (i) been registered under the Shelf Registration Statement and
disposed of in accordance therewith, (ii) become eligible to be transferred without condition as contemplated by Rule 144 under the Act or any successor rule or regulation thereto that may be adopted by the Commission or (iii) ceased to be
outstanding. 
 “Registration Default” shall have the meaning set forth in Section 7 hereof. 

“Scheduled Trading Day” shall have the meaning specified in the Indenture. 

“Shelf Registration Period” shall have the meaning set forth in Section 2(b) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company pursuant to the
provisions of Section 2 hereof which covers some or all of the Company Common Stock on an appropriate form under Rule 415 under the Act, or any similar rule that may be adopted by the Commission, amendments and supplements to such registration
statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. References to “Shelf Registration Statement” shall be deemed
to mean “Automatic Shelf Registration Statement” if, at the time of its filing, the Company is a Well-Known Seasoned Issuer. 

  
 3 

 “Trading Day” shall have the meaning set forth in the Indenture. 

“Underwriter” shall mean any underwriter of Company Common Stock in connection with an offering thereof under the Shelf
Registration Statement. 
 “Well-Known Seasoned Issuer” shall have the meaning set forth in Rule 405 under the Act. 

2. Shelf Registration. (a) The Company shall file with the Commission a Shelf Registration Statement providing for the
registration of, and the sale on a continuous or delayed basis by the Holders of, all of the Registrable Securities, from time to time in accordance with the methods of distribution elected by such Holders, pursuant to Rule 415 under the Act or any
similar rule that may be adopted by the Commission and shall use its commercially reasonable efforts to cause such Shelf Registration Statement to become effective on or prior to the 270th day after the Closing Date. 

(b) The Company shall use its commercially reasonable efforts to keep the Shelf Registration Statement continuously effective, supplemented
and amended as required by the Act, in order to permit the Prospectus forming part thereof to be usable by Holders for a period (the “Shelf Registration Period”) from the date the Shelf Registration Statement becomes effective or is
declared effective by the Commission, as the case may be, to and including the earlier of (i) the 20th Trading Day immediately following the Maturity Date (subject to extension for any suspension of the effectiveness of the Shelf Registration
Statement during such 20-Trading Day period immediately following the Maturity Date) or (ii) the date upon which there are no Notes or Registrable Securities outstanding. The Company shall be deemed not to have used its commercially reasonable
efforts to keep the Shelf Registration Statement effective during the Shelf Registration Period if it voluntarily takes any action that would result in Holders of Registrable Securities not being able to offer and sell such Registrable Securities at
any time during the Shelf Registration Period, unless such action is (x) required by applicable law or otherwise undertaken by the Company in good faith and for valid business reasons (not including avoidance of the Company’s obligations
hereunder), including the acquisition or divestiture of assets, or (y) permitted by Section 3(i) hereof. 
 (c) The Company shall
cause the Shelf Registration Statement and the related Prospectus and any amendment or supplement thereto, as of the effective date of the Shelf Registration Statement or such amendment or supplement, (i) to comply in all material respects with
the applicable requirements of the Act and (ii) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein (in the case of the
Prospectus, in the light of the circumstances under which they were made) not misleading. 
 (d) Subject to applicable law, the Company
shall issue a press release through a reputable national newswire service announcing the anticipated effective date of the Shelf Registration Statement at least 15 Business Days prior to such anticipated effective date. Each Holder, in order to be
named in the Shelf Registration Statement at the time of its initial effectiveness, will be required to deliver a Notice and Questionnaire (which shall include an agreement by such Holder to be bound by all of the provisions of this Agreement
applicable to 

  
 4 

 
such Holder) and such other information as the Company may reasonably request in writing, if any, to the Company at least 10 Business Days prior to the anticipated effective date of the Shelf
Registration Statement as announced in the press release. If a Holder does not timely complete and deliver a Notice and Questionnaire or provide the other information the Company may reasonably request in writing, that Holder will not be named as a
selling securityholder in the Prospectus and will not be permitted to sell its Registrable Securities under the Shelf Registration Statement. From and after the effective date of the Shelf Registration Statement, the Company shall use its
commercially reasonable efforts, as promptly as is practicable after the date a Notice and Questionnaire is delivered, and in any event within 10 Business Days after such date, (i) if required by applicable law, to file with the Commission a
post-effective amendment to the Shelf Registration Statement or to prepare and, if permitted or required by applicable law, to file a supplement to the Prospectus or an amendment or supplement to any document incorporated therein by reference or
file any other required document so that the Holder delivering such Notice and Questionnaire is named as a selling securityholder in the Shelf Registration Statement and the related Prospectus, and so that such Holder is permitted to deliver such
Prospectus to purchasers of the Registrable Securities in accordance with applicable law (provided that the Company shall not be required to file more than one supplement or post-effective amendment in any 60-day period in accordance with
this Section 2(d)(i)) and, if the Company shall file a post-effective amendment to the Shelf Registration Statement, use its commercially reasonable efforts to cause such post-effective amendment to be declared effective under the Act as
promptly as is practicable; (ii) provide such Holder, upon request, copies of any documents filed pursuant to Section 2(d)(i) hereof; and (iii) notify such Holder as promptly as practicable after the effectiveness under the Act of any
post-effective amendment filed pursuant to Section 2(d)(i) hereof; provided that if such Notice and Questionnaire is delivered during a Deferral Period, the Company shall so inform the Holder delivering such Notice and Questionnaire and
shall take the actions set forth in clauses (i), (ii) and (iii) above upon expiration of the Deferral Period in accordance with Section 3(i) hereof. Notwithstanding anything contained herein to the contrary, the Company shall be under
no obligation to name any Holder that is not a Notice Holder as a selling securityholder in the Shelf Registration Statement or Prospectus; provided, however, that any Holder that becomes a Notice Holder pursuant to the provisions of this
Section 2(d) (whether or not such Holder was a Notice Holder at the effective date of the Shelf Registration Statement) shall be named as a selling securityholder in the Shelf Registration Statement or Prospectus in accordance with the
requirements of this Section 2(d). Notwithstanding the foregoing, if the Notes are exchanged as provided for in Article 13 of the Indenture, then the Company shall use its commercially reasonable efforts to file the post-effective amendment or
supplement within 10 Business Days of date of such exchange, or if such Notice and Questionnaire is delivered during a Deferral Period, upon expiration of the Deferral Period. 

3. Registration Procedures. The following provisions shall apply in connection with the Shelf Registration Statement. 

(a) The Company shall: 

(i) furnish to the Initial Purchaser and to counsel for the Notice Holders, not less than five Business Days prior to the
filing thereof with the Commission, a copy of the Shelf Registration Statement and each amendment thereto and each amendment or supplement, if any, to the Prospectus (other than amendments and supplements that do

  
 5 

 
nothing more than name Notice Holders and provide information with respect thereto and other than filings by the Company under the Exchange Act) and shall use its commercially reasonable efforts
to reflect in each such document, when so filed with the Commission, such comments as the Initial Purchaser reasonably proposes; and 

(ii) include information regarding the Notice Holders and the methods of distribution they have elected for their Registrable
Securities provided to the Company in Notices and Questionnaires as necessary to permit such distribution by the methods specified therein. 

(b) The Company shall ensure that: 

(i) the Shelf Registration Statement and any amendment thereto, and any Prospectus and any amendment or supplement thereto,
comply in all material respects with the Act; and 
 (ii) the Shelf Registration Statement and any amendment thereto do not,
when each becomes effective, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. 

(c) The Company shall advise the Initial Purchaser, the Notice Holders and any Underwriter that has provided in writing to the Company a
telephone or facsimile number and address for notices, and confirm such advice in writing, if requested (which notice pursuant to clauses (ii) - (v) hereof shall be accompanied by an instruction to suspend the use of the Prospectus until the
Company shall have remedied the basis for such suspension): 
 (i) when the Shelf Registration Statement and any amendment
thereto have been filed with the Commission and when the Shelf Registration Statement or any post-effective amendment thereto has become effective; 

(ii) of any request by the Commission for any amendment or supplement to the Shelf Registration Statement or the Prospectus or
for additional information; 
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the
Shelf Registration Statement or the institution or threatening of any proceeding for that purpose; 
 (iv) of the receipt by
the Company of any notification with respect to the suspension of the qualification of the Company Common Stock included therein for sale in any jurisdiction or the institution or threatening of any proceeding for such purpose; and 

(v) of the happening of any event that requires any change in the Shelf Registration Statement or the Prospectus so that, as of
such date, they (A) do not contain any untrue statement of a material fact and (B) do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in the light
of the circumstances under which they were made) not misleading. 

  
 6 

 (d) The Company shall use its commercially reasonable efforts to prevent the issuance of any
order suspending the effectiveness of the Shelf Registration Statement or the qualification of the securities therein for sale in any jurisdiction and, if issued, to obtain as soon as possible the withdrawal thereof. The Company shall undertake
additional commercially reasonable actions as required to permit unrestricted resales of the Registrable Securities in accordance with the terms and conditions of this Agreement. 

(e) Upon request, the Company shall furnish, in electronic or physical form, to each Notice Holder, without charge, at least one copy of the
Shelf Registration Statement and any post-effective amendment thereto, and, if a Notice Holder so requests in writing, copies of including all material incorporated therein by reference and/or all exhibits thereto (including exhibits incorporated by
reference therein). 
 (f) During the Shelf Registration Period, the Company shall promptly deliver to the Initial Purchaser, each Notice
Holder, and any sales or placement agents or underwriters acting on their behalf, without charge, as many copies of the Prospectus (including the preliminary Prospectus, if any) included in the Shelf Registration Statement and any amendment or
supplement thereto as any such person may reasonably request. The Company consents to the use of the Prospectus or any amendment or supplement thereto by each of the foregoing in connection with the offering and sale of the Registrable Securities.

 (g) Prior to any offering of Registrable Securities pursuant to the Shelf Registration Statement, the Company shall arrange for the
qualification of the Registrable Securities for sale under the laws of such U.S. jurisdictions as any Notice Holder shall reasonably request and shall maintain such qualification in effect so long as required; provided that in no event shall
the Company be obligated by this Agreement to qualify to do business in any jurisdiction where it is not then so qualified or to take any action that would subject it to service of process in suits, other than those arising out of the Initial
Placement or any offering pursuant to the Shelf Registration Statement, in any jurisdiction where it is not then so subject. 
 (h) Upon the
occurrence of any event contemplated by subsections (c)(ii) through (v) above, the Company shall promptly (or within the time period provided for by Section 3(i) hereof, if applicable) prepare a post-effective amendment to the Shelf
Registration Statement or an amendment or supplement to the Prospectus or file any other required document so that, as thereafter delivered to subsequent purchasers of the securities included therein, the Prospectus will not include an untrue
statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

(i) Upon the occurrence or existence of any pending corporate development, public filings with the Commission or any other material event
that, in the reasonable judgment of the Company, makes it appropriate to suspend the availability of the Shelf Registration Statement and the Prospectus, the Company shall give notice (without notice of the nature or details of such events) to the
Notice Holders that the availability of the Shelf Registration Statement is 

  
 7 

 
suspended and, upon receipt of any such notice, each Notice Holder agrees: (i) not to sell any Registrable Securities pursuant to the Shelf Registration Statement until such Notice Holder
receives copies of the supplemented or amended Prospectus provided for in Section 3(i) hereof, or until it is advised in writing by the Company that the Prospectus may be used, and has received copies of any additional or supplemental filings
that are incorporated or deemed incorporated by reference in such Prospectus; and (ii) to hold such notice in confidence. Except in the case of a suspension of the availability of the Shelf Registration Statement and the Prospectus solely as
the result of the filing of a post-effective amendment or supplement to the Prospectus to add additional selling securityholders therein, the period during which the availability of the Shelf Registration Statement and any Prospectus is suspended
(the “Deferral Period”) shall not exceed 45 days in any calendar quarter or 90 days in any calendar year; provided, however, that, if the event triggering the Deferral Period relates to a proposed or pending material business
transaction, including any material property acquisition, the disclosure of which the board of directors of the Company has determined in good faith would be reasonably likely to impede the Company’s ability to consummate the transaction or
would otherwise be detrimental to the Company and its subsidiaries taken as a whole, the Company may extend the Deferral Period from 45 days to 60 days in any calendar quarter or from 90 days to 120 days in any calendar year. 

(j) The Company shall comply with all applicable rules and regulations of the Commission and shall make generally available to its
securityholders an earnings statement satisfying the provisions of Section 11(a) of the Act as soon as practicable after the effective date of the Shelf Registration Statement and in any event no later than 45 days after the end of the 12-month
period (or 90 days, if such period is a fiscal year) beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the Shelf Registration Statement. 

(k) The Company may require each Holder of Registrable Securities to be sold pursuant to the Shelf Registration Statement to furnish to the
Company such information regarding the Holder and the distribution of such Registrable Securities as the Company may from time to time reasonably require for inclusion in the Shelf Registration Statement. The Company may exclude from the Shelf
Registration Statement the Registrable Securities of any Holder that unreasonably fails to furnish such information within a reasonable time after receiving such request. 

(l) Subject to Section 6 hereof, the Company shall enter into customary agreements (including, if requested, an underwriting agreement in
customary form) and take all other appropriate actions in order to expedite or facilitate the registration or the disposition of the Registrable Securities, and in connection therewith, if an underwriting agreement is entered into, cause the same to
contain customary indemnification provisions and procedures. 
 (m) Subject to Section 6 hereof, for persons who are or may be
“underwriters” with respect to the Company Common Stock issued upon exchange of the Notes within the meaning of the Act and who make appropriate requests for information to be used solely for the purpose of taking reasonable steps to
establish a due diligence or similar defense in connection with the proposed sale of such Company Common Stock pursuant to the Shelf Registration, the Company shall: 

  
 8 

 (i) make reasonably available for inspection by the Holders of Registrable
Securities, any Underwriter participating in any disposition pursuant to the Shelf Registration Statement, and any attorney, accountant or other agent retained by the Holders or any such underwriter all relevant financial and other records and
pertinent corporate documents of the Company and its subsidiaries; 
 (ii) cause the Company’s officers, directors,
employees, accountants and auditors to supply all relevant information reasonably requested by the Holders or any such underwriter, attorney, accountant or agent in connection with the Shelf Registration Statement as is customary for similar due
diligence examinations; 
 (iii) make such representations and warranties to the Holders of Company Common Stock registered
thereunder and the underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings and covering matters including, but not limited to, those set forth in the Purchase Agreement;

 (iv) obtain opinions of counsel to the Company and updates thereof (which counsel and opinions (in form, scope and
substance) shall be reasonably satisfactory to the Managing Underwriters, if any) addressed to each selling Holder of Registrable Securities and the underwriters, if any, covering such matters as are customarily covered in opinions requested in
underwritten offerings and such other matters as may be reasonably requested by such Holders and underwriters; 
 (v) obtain
“comfort” letters and updates thereof from the independent certified public accountants of the Company (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by
the Company for which financial statements and financial data are, or are required to be, included in the Shelf Registration Statement), addressed to each selling Holder of Registrable Securities and the Underwriters, if any, in customary form and
covering matters of the type customarily covered in “comfort” letters in connection with primary underwritten offerings; and 

(vi) deliver such documents and certificates as may be reasonably requested by the Majority Holders or the Managing
Underwriters, if any, including those to evidence compliance with Section 3(h) hereof and with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company. 

Subject to Section 6 hereof, the actions set forth in clauses (iii), (iv), (v) and (vi) of this paragraph (m) shall be performed in
connection with any underwriting or similar agreement as and to the extent required thereunder. 
 (n) In the event that any Broker-Dealer
shall underwrite any Company Common Stock or participate as a member of an underwriting syndicate or selling group or “participate in an offering” (within the meaning of the FINRA Rules) thereof, whether as a Holder of such Company Common
Stock or as an underwriter, a placement or sales agent or a broker or dealer in respect thereof, or otherwise, the Company shall, upon the reasonable request of such Broker-Dealer, comply with any such reasonable request of such Broker-Dealer in
complying with the FINRA Rules. 

  
 9 

 (o) The Company shall use its commercially reasonable efforts to take all other steps necessary
to effect the registration of the Company Common Stock covered by the Shelf Registration Statement. 
 4. Registration Expenses. The
Company shall bear all expenses incurred in connection with the performance of its obligations under Sections 2 and 3 hereof and shall reimburse the Holders for the reasonable fees and disbursements of one firm or counsel (which shall initially be
Latham & Watkins, LLP, but which may be another nationally recognized law firm experienced in securities matters designated by the Majority Holders) to act as counsel for the Holders in connection therewith; provided, however, that
such expenses shall not include, and the Company shall not have any obligation to pay, any transfer taxes, underwriting fees, discounts or commissions attributable to the sale of such Registrable Securities, or any fees and expenses of any
Broker-Dealer or other financial intermediary engaged by any Holder. 
 5. Indemnification and Contribution. (a) The Company and
the Operating Partnership agree to indemnify and hold harmless each Holder of Company Common Stock covered by the Shelf Registration Statement, the Initial Purchaser, the directors, officers, employees, Affiliates and agents of each such Holder or
Initial Purchaser and each person who controls any such Holder or Initial Purchaser within the meaning of either the Act or the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them
may become subject under the Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based
upon any untrue statement or alleged untrue statement of a material fact contained in the Shelf Registration Statement as originally filed or in any amendment thereof, or in any preliminary Prospectus or the Prospectus, or in any amendment thereof
or supplement thereto, or caused by the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of any preliminary Prospectus or the Prospectus, in the
light of the circumstances under which they were made) not misleading, and agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by it in connection with investigating or defending any such
loss, claim, damage, liability or action; provided, however, that the Company and the Operating Partnership will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any
such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information furnished to the Company by or on behalf of the party claiming indemnification specifically
for inclusion therein. 
 The Company and the Operating Partnership also agree to indemnify as provided in this Section 5(a) or
contribute as provided in Section 5(d) hereof to Losses of each underwriter, if any, of Company Common Stock registered under the Shelf Registration Statement, its directors, officers, employees, Affiliates or agents and each person who
controls such underwriter on substantially the same basis as that of the indemnification of the Initial Purchaser and the selling Holders provided in this paragraph (a) and shall, if requested by any Holder, enter into an underwriting agreement
reflecting such agreement, as provided in Section 3(l) hereof. 

  
 10 

 (b) Each Holder of securities covered by the Shelf Registration Statement (including each Initial
Purchaser that is a Holder, in such capacity) severally and not jointly agrees to indemnify and hold harmless the Company and the Operating Partnership, each of the Company’s directors, each of the Company’s officers who signs the Shelf
Registration Statement and each person who controls the Company or the Operating Partnership within the meaning of either the Act or the Exchange Act, to the same extent as the foregoing indemnity from the Company and the Operating Partnership to
each such Holder, but only with reference to written information relating to such Holder furnished to the Company by or on behalf of such Holder specifically for inclusion in the documents referred to in the foregoing indemnity. This indemnity
agreement shall be acknowledged by each Notice Holder that is not an Initial Purchaser in such Notice Holder’s Notice and Questionnaire and shall be in addition to any liability that any such Notice Holder may otherwise have. 

(c) Promptly after receipt by an indemnified party under this Section 5 or notice of the commencement of any action, such indemnified
party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 5, notify the indemnifying party in writing of the commencement thereof; but the failure so to notify the indemnifying party (i) will
not relieve it from liability under paragraph (a) or (b) above unless and to the extent it has been materially prejudiced through the forfeiture by the indemnifying party of substantial rights and defenses; and (ii) will not, in any
event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or (b) above. If any action shall be brought against an indemnified party and it shall
have notified the indemnifying party thereof, the indemnifying party shall be entitled to appoint counsel (including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party
in any action for which indemnification is sought (in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party,
retained by the indemnified party or parties except as set forth below); provided, however, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel
(including local counsel) to represent the indemnified party in an action, the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses
of such separate counsel if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or targets of, any
such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other indemnified parties that are different from or
additional to those available to the indemnifying party; (iii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of
the institution of such action; or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. It is understood and agreed that the indemnifying party shall not, in
connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate law firm (in addition to any local counsel) for all indemnified persons. An indemnifying party will not,
without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification

  
 11 

 
or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or consent includes an
unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding and does not include an admission of fault, culpability or a failure to act, by or on behalf of such indemnified party. 

(d) In the event that the indemnity provided in paragraph (a) or (b) of this Section 5 is unavailable to or insufficient to hold
harmless an indemnified party for any reason, then each applicable indemnifying party shall have a joint and several obligation to contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably
incurred in connection with investigating or defending loss, claim, liability, damage or action) (collectively “Losses”) to which such indemnified party may be subject in such proportion as is appropriate to reflect the relative
benefits received by such indemnifying party, on the one hand, and such indemnified party, on the other hand, from the Initial Placement and the Shelf Registration Statement which resulted in such Losses; provided, however, that in no case
shall any Initial Purchaser be responsible, in the aggregate, for any amount in excess of the purchase discount or commission applicable to the Notes, as set forth in the Final Offering Circular, nor shall any underwriter be responsible for any
amount in excess of the underwriting discount or commission applicable to the securities purchased by such underwriter under the Shelf Registration Statement which resulted in such Losses. If the allocation provided by the immediately preceding
sentence is unavailable for any reason, the indemnifying party and the indemnified party shall contribute in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of such indemnifying party, on the
one hand, and such indemnified party, on the other hand, in connection with the statements or omissions which resulted in such Losses as well as any other relevant equitable considerations. Benefits received by the Company and the Operating
Partnership shall be deemed to be equal to the total net proceeds from the Initial Placement (before deducting expenses) as set forth in the Final Offering Circular. Benefits received by the Initial Purchaser shall be deemed to be equal to the total
purchase discounts and commissions as set forth on the cover page of the Final Offering Circular, and benefits received by any other Holders shall be deemed to be equal to the value of receiving Company Common Stock registered under the Act.
Benefits received by any underwriter shall be deemed to be equal to the total underwriting discounts and commissions, as set forth on the cover page of the Prospectus forming a part of the Shelf Registration Statement which resulted in such Losses.
Relative fault shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information provided by the
indemnifying party, on the one hand, or by the indemnified party, on the other hand, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The parties
agree that it would not be just and equitable if contribution were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or any other method of allocation which does not take account of the equitable
considerations referred to above. Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation. For purposes of this Section 5, each person who controls a Holder within the meaning of either the Act or the Exchange Act and each director, officer, employee and agent of such Holder shall have
the same rights to contribution as such Holder, and each person who 

  
 12 

 
controls the Company or the Operating Partnership within the meaning of either the Act or the Exchange Act, each officer of the Company or the Operating Partnership who shall have signed the
Shelf Registration Statement and each director of the Company or the Operating Partnership shall have the same rights to contribution as the Company and the Operating Partnership, subject in each case to the applicable terms and conditions of this
paragraph (d). 
 (e) The provisions of this Section 5 shall remain in full force and effect, regardless of any investigation made by
or on behalf of any Holder or the Company or the Operating Partnership or any of the indemnified persons referred to in this Section 5, and shall survive the sale by a Holder of securities covered by the Shelf Registration Statement. 

6. Underwritten Registrations. (a) In no event will the method of distribution of Registrable Securities take the form of an
underwritten offering without the prior written consent of the Company. Consent may be conditioned on waivers of any of the obligations in Section 3, Section 4 or Section 5 hereof. 

(b) If any Registrable Securities are to be sold in an underwritten offering, the Managing Underwriters shall be selected by the Company,
subject to the prior written consent of the Holders of a majority of the Registrable Securities, which consent shall not be unreasonably withheld. 

(c) No person may participate in any underwritten offering pursuant to the Shelf Registration Statement unless such person: (i) agrees to
sell such person’s Registrable Securities on the basis reasonably provided in any underwriting arrangements approved by the persons entitled hereunder to approve such arrangements; and (ii) completes and executes all questionnaires, powers
of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements. 

7. Registration Defaults. If any of the following events shall occur (each, a “Registration Default”), then the
Company shall pay additional interest on the Notes (“Additional Interest”) to the Holders as follows: 
 (a) if the Shelf
Registration Statement has not been filed with the Commission and become or declared effective , as the case may be, on or prior to the 270th day after the Closing Date, then commencing on the 271st day after the Closing Date, Additional Interest
shall accrue on the aggregate outstanding principal amount of the Notes at a rate of 0.25% per annum for the first 90 days from and including the 271st day after the Closing Date and 0.50% per annum thereafter; or 

(b) if the Shelf Registration Statement has been declared or becomes effective but ceases to be effective or usable for the offer and sale of
the Registrable Securities, other than in connection with (i) a Deferral Period or (ii) as a result of a requirement to file a post-effective amendment or supplement to the Prospectus to make changes to the information regarding selling
securityholders or the plan of distribution provided for therein, at any time during the Shelf Registration Period and the Company does not cure the lapse of effectiveness or usability within 10 Business Days (or, if a Deferral Period is then in
effect and subject to the 10 -Business Day filing requirement and the proviso regarding the filing of post-effective amendments in 

  
 13 

 
Section 2(d) with respect to any Notice and Questionnaire received during such period, within 10 Business Days following the expiration of such Deferral Period or period permitted pursuant
to Section 2(d)), then Additional Interest shall accrue on the aggregate outstanding principal amount of the Notes at a rate of 0.25% per annum for the first 90 days from and including the day following such 10th Business Day and
0.50% per annum thereafter; or 
 (c) if the Company through its omission fails to name as a selling securityholder any Holder that had
complied timely with its obligations hereunder in a manner to entitle such Holder to be so named in (i) the Shelf Registration Statement at the time it first became effective or (ii) any Prospectus at the later of time of filing thereof or
the time the Shelf Registration Statement of which the Prospectus forms a part becomes effective, then Additional Interest shall accrue, on the aggregate outstanding principal amount of the Notes held by such Holder, at a rate of 0.25% per
annum for the first 90 days from and including the day following the effective date of such Shelf Registration Statement or the time of filing of such Prospectus, as the case may be, and 0.50% per annum thereafter; or 

(d) if the aggregate duration of Deferral Periods in any period exceeds the number of days permitted in respect of such period pursuant to
Section 3(i) hereof, then commencing on the day the aggregate duration of Deferral Periods in any period exceeds the number of days permitted in respect of such period, Additional Interest shall accrue on the aggregate outstanding principal
amount of the Notes at a rate of 0.25% per annum for the first 90 days from and including such date, and 0.50% per annum thereafter; 

provided, however, that (1) upon the filing and effectiveness (whether upon such filing or otherwise) of the Shelf Registration Statement (in the
case of paragraph (a) above), (2) upon such time as the Shelf Registration Statement which had ceased to remain effective or usable for resales again becomes effective and usable for resales (in the case of paragraph (b) above),
(3) upon the time such Holder is permitted to sell its Registrable Securities pursuant to any Shelf Registration Statement and Prospectus in accordance with applicable law (in the case of paragraph (c) above), (4) upon the termination
of the Deferral Period that caused the limit on the aggregate duration of Deferral Periods in a period set forth in 3(i) to be exceeded (in the case of paragraph (d) above), or (5) in any case, notwithstanding the preceding clauses
(1) through (4), upon the earlier of the two dates provided in clauses (i) and (ii) of Section 2(b), Additional Interest shall cease to accrue; provided, further, that if a Registration Default occurs at any time
when the Notes are not exchangeable as described under Article 13 of the Indenture, then the references in each of paragraphs (a) through (d) above to “0.25%” will be deemed to be replaced by “0.125%” and references to
“0.50%” will be deemed to be replaced by “0.25%”. 
 Any amounts of Additional Interest due pursuant to this
Section 7 will be payable in cash on the next succeeding interest payment date to Holders entitled to receive such Additional Interest on the relevant record dates for the payment of interest (prorated as necessary to the extent any Notes cease
to be outstanding during any period in which Additional Interest is accruing). 
 The Additional Interest rate on the Notes shall not exceed
in the aggregate 0.50% per annum and shall not be payable under more than one clause above for any given period of time, except that if Additional Interest would be payable because of more than one Registration

  
 14 

 
Default, but at a rate of 0.25% per annum under one Registration Default and at a rate of 0.50% per annum under the other, then the Additional Interest rate shall be the higher rate of
0.50% per annum. For the avoidance of doubt, other than the Company’s obligation to pay Additional Interest in accordance with this Section 7, neither the Company nor the Operating Partnership will have any liability for damages with
respect to a Registration Default. In no event shall Additional Interest accrue to holders of Common Stock issued upon exchange of Notes. In no event shall Additional Interest, together with any interest payable pursuant to Section 6.01(b) of
the Indenture, accrue at a rate in excess of 0.50% per annum, regardless of the number of events or circumstances giving rise to the requirement to pay such additional interest. 

If the Maturity Date, Redemption Date or Fundamental Change Repurchase Date for the Notes occurs and a Registration Default exists on such
date, in addition to any Additional Interest otherwise payable, the Operating Partnership will make a cash payment to each Holder of Notes of an amount equal to 3.0% of the principal amount of the Notes outstanding and held by such Holder as of the
Close of Business on the third Scheduled Trading Day immediately prior to the Maturity Date, Redemption Date or Fundamental Change Repurchase Date, as applicable; provided, however, that no such amount shall be paid if the Operating
Partnership amends the indenture prior to such date to irrevocably elect to settle exchanges of such Notes solely via Cash Settlement. For the avoidance of doubt, subject to the immediately preceding proviso, should the Maturity Date, the
Redemption Date or Fundamental Change Repurchase Date occur during a period in which a Registration Default exists, all record Holders of Notes outstanding on the third Scheduled Trading Day immediately preceding the Maturity Date, the Redemption
Date or the Fundamental Change Repurchase Date, as applicable, will receive the cash payment specified in this paragraph regardless of whether their Notes have been exchanged on or after May 15, 2019 and prior to the Close of Business on such
third Scheduled Trading Day preceding the Maturity Date, the Redemption Date or the Fundamental Change Repurchase Date, as applicable. Any Capitalized terms in this paragraph not defined in this Agreement have the meaning given to them in the
Indenture. 
 8. No Inconsistent Agreements. Neither the Company nor the Operating Partnership has entered into, and each agrees not
to enter into, any agreement with respect to its securities that is inconsistent with the registration rights granted to the Holders herein. 

9. Rule 144A and Rule 144. So long as any Registrable Securities remain outstanding, the Company shall use its commercially reasonable
efforts to file the reports required to be filed by it under Rule 144A(d)(4) under the Act and the Exchange Act in a timely manner and, if at any time the Company is not required to file such reports, it will, upon the written request of any Holder
of Registrable Securities, make publicly available other information so long as necessary to permit sales of such Holder’s Registrable Securities pursuant to Rules 144 and 144A of the Act. The Company covenants that it will take such further
action as any Holder of Registrable Securities may reasonably request, all to the extent required from time to time to enable such Holder to sell Registrable Securities without registration under the Act within the limitation of the exemptions
provided by Rules 144 and 144A (including, without limitation, the requirements of Rule 144A(d)(4)). Upon the written request of any Holder of Registrable Securities, the Company shall deliver to such Holder a written statement as to whether it has
complied with such requirements. Notwithstanding the foregoing, nothing in this Section 9 shall be deemed to require the Company or the Operating Partnership to register any of its securities pursuant to the Exchange Act. 

  
 15 

 10. Listing. So long as any Registrable Securities are outstanding, the Company shall use
its commercially reasonable efforts to maintain the approval of the Company Common Stock for listing on the New York Stock Exchange. 
 11.
Amendments and Waivers. The provisions of this Agreement may not be amended, qualified, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company has obtained the written
consent of the Holders of a majority of the Registrable Securities; provided that, with respect to any matter that directly or indirectly affects the rights of the Initial Purchaser hereunder, the Company shall obtain the written consent of
the Initial Purchaser against which such amendment, qualification, modification, supplement, waiver or consent is to be effective; provided, further, that no amendment, qualification, modification, supplement, waiver or consent with respect to
Section 7 hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such Holder; and provided, further, that the provisions of this Section 11 may not be amended, qualified, modified or
supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company has obtained the written consent of the Initial Purchaser and each Holder. 

12. Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery,
first-class mail, telex, telecopier, email or air courier guaranteeing overnight delivery: 
 (a) if to a Holder, at the most current
address given by such holder to the Company in accordance with the provisions of the Notice and Questionnaire; 
 (b) if to the Initial
Purchaser, initially at the address set forth in the Purchase Agreement; and 
 (c) if to the Company or the Operating Partnership,
initially at its address set forth in the Purchase Agreement. 
 All such notices and communications shall be deemed to have been duly given
when received. 
 The Initial Purchaser, the Company or the Operating Partnership by notice to the other parties may designate additional or
different addresses for subsequent notices or communications. 
 Notwithstanding the foregoing, notices given to Holders (i) holding
Notes in book-entry form may be given through the facilities of DTC or any successor depository and (ii) may be given by e-mail at the e-mail address provided by such Holder in the Notice and Questionnaire. 

13. Remedies. Each Holder, in addition to being entitled to exercise all rights provided to it herein or in the Purchase Agreement or
granted by law, including recovery of liquidated or other damages, will be entitled to specific performance of its rights under this 

  
 16 

 
Agreement. The Company and the Operating Partnership agree that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by them of the provisions of this
Agreement and hereby agree to waive in any action for specific performance the defense that a remedy at law would be adequate. 
 14.
Successors. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their respective successors and assigns, including, without the need for an express assignment or any consent by the Company or the Operating
Partnership thereto, subsequent Holders, and the indemnified persons referred to in Section 5 hereof. The Company and the Operating Partnership hereby agree to extend the benefits of this Agreement to any Holder, and any such Holder may
specifically enforce the provisions of this Agreement as if an original party hereto. 
 15. Counterparts. This Agreement may be
signed in one or more counterparts, each of which shall constitute an original and all of which together shall constitute one and the same agreement. 

16. Headings. The section headings used herein are for convenience only and shall not affect the construction or interpretation hereof.

 17. Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York
applicable to contracts made and to be performed in the State of New York. The parties hereto each hereby waive any right to trial by jury in any action, proceeding or counterclaim arising out of or relating to this Agreement. 

18. Severability. In the event that any one or more of the provisions contained herein, or the application thereof in any
circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not be in any way impaired or
affected thereby, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law. 

19. Company Common Stock Held by the Company, etc. Whenever the consent or approval of Holders of a specified percentage of Company
Common Stock is required hereunder, Company Common Stock held by the Company or its Affiliates (other than subsequent Holders of Company Common Stock if such subsequent Holders are deemed to be Affiliates solely by reason of their holdings of such
Company Common Stock) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 

  
 17 

 
			
	Very truly yours,
	
	EMPIRE STATE REALTY TRUST, INC.
		
	By:	 	 /s/ David A. Karp

	Name:	 	David A. Karp
	Title:	 	Authorized Signatory
	
	EMPIRE STATE REALTY OP, L.P.
		
	By:	 	 /s/ David A. Karp

	Name:	 	David A. Karp
	Title:	 	Authorized Signatory

 [Signature Page to Registration Rights Agreement] 

  
 18 

 The foregoing Agreement is hereby confirmed and accepted as of the date first above written. 

 

			
	GOLDMAN, SACHS & CO.
		
	By:	 	 /s/ Richard Cohn

	Name:	 	Richard Cohn
	Title:	 	Managing Director

 [Signature Page to Registration Rights Agreement] 

  
 19EX-10.1

 Exhibit 10.1 

Tetraphase Pharmaceuticals, Inc. 

2014 EMPLOYEE STOCK PURCHASE PLAN 

April 25, 2014 
 The purpose
of this Plan is to provide eligible employees of Tetraphase Pharmaceuticals, Inc. (the “Company”) and certain of its subsidiaries with opportunities to purchase shares of the Company’s common stock, $0.001 par value (the “Common
Stock”), commencing at such time as the Board of Directors of the Company (the “Board”) shall determine. Subject to adjustment under Section 15 hereof, the number of shares of Common Stock that have been approved for this purpose
is 300,000 shares of Common Stock. This Plan is intended to qualify as an “employee stock purchase plan” as defined in Section 423 of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations issued
thereunder, and shall be interpreted consistent therewith. 
 1. Administration. The Plan will be administered by the Board or by a
Committee appointed by the Board (the “Committee”). The Board or the Committee has authority to make rules and regulations for the administration of the Plan and its interpretation and decisions with regard thereto shall be final and
conclusive. 
 2. Eligibility. All full-time employees of the Company and all employees of any subsidiary of the Company (as defined
in Section 424(f) of the Code) designated by the Board or the Committee from time to time (a “Designated Subsidiary”), are eligible to participate in any one or more of the offerings of Options (as defined in Section 9) to
purchase Common Stock under the Plan provided that: 
 (a) they are customarily employed by the Company or a Designated
Subsidiary for more than 20 hours a week and for more than five months in a calendar year; 
 (b) they have been employed by
the Company or a Designated Subsidiary for at least six months prior to enrolling in the Plan; and 
 (c) they are employees
of the Company or a Designated Subsidiary on the first day of the applicable Plan Period (as defined below). 
 No employee may be granted
an Option hereunder if such employee, immediately after the Option is granted, owns 5% or more of the total combined voting power or value of the stock of the Company or any subsidiary. For purposes of the preceding sentence, the attribution rules
of Section 424(d) of the Code shall apply in determining the stock ownership of an employee, and all stock that the employee has a contractual right to purchase shall be treated as stock owned by the employee. 

The Company retains the discretion to determine which eligible employees may participate in an offering pursuant to and consistent with
Treasury Regulation Sections 1.423-2(e) and (f). 
 3. Offerings. The Company will make one or more offerings (“Offerings”)
to employees to purchase stock under this Plan. Offerings will begin at such time as the Board shall determine. Each Offering will consist of a six-month period (a “Plan Period”) during which payroll deductions will be made and held for
the purchase of Common Stock at the end of the Plan Period. The Board or the Committee may, at its discretion, choose a different Plan Period of twelve (12) months or less for subsequent Offerings. 

4. Participation. An employee eligible on the first day of a Plan Period of any Offering may participate in such Offering by completing
and forwarding either a written or electronic payroll deduction authorization form to the employee’s appropriate payroll office at least 15 days prior to the commencement of the applicable Plan Period. The form will authorize a regular payroll
deduction from the Compensation received by the employee during the Plan Period. Unless an employee files a new form or withdraws from the Plan, his or her deductions and purchases will continue at the same rate for future Offerings under the Plan
as long as the Plan remains in effect. The term “Compensation” means the amount of money reportable on the employee’s Federal Income Tax Withholding Statement, excluding overtime, shift premium, incentive or bonus awards, allowances
and reimbursements for expenses such as relocation allowances for travel expenses, income or gains associated with the grant or vesting of restricted stock, income or gains on the exercise of Company stock options or stock appreciation rights, and
similar items, whether or not shown or separately identified on the employee’s Federal Income Tax Withholding Statement, but including, in the case of salespersons, sales commissions to the extent determined by the Board or the Committee. 

 5. Deductions. The Company will maintain payroll deduction accounts for all participating
employees. With respect to any Offering made under this Plan, an employee may authorize a payroll deduction in any percentage amount (in whole percentages) up to a maximum of 10% of the Compensation he or she receives during the Plan Period or such
shorter period during which deductions from payroll are made. The Board or the Committee may, at its discretion, designate a lower maximum contribution rate. The minimum payroll deduction is such percentage of Compensation as may be established from
time to time by the Board or the Committee. 
 6. Deduction Changes. An employee may decrease or discontinue his or her payroll
deduction once during any Plan Period, by filing either a written or electronic new payroll deduction authorization form. However, an employee may not increase his or her payroll deduction during a Plan Period. If an employee elects to discontinue
his or her payroll deductions during a Plan Period, but does not elect to withdraw his or her funds pursuant to Section 8 hereof, funds deducted prior to his or her election to discontinue will be applied to the purchase of Common Stock on the
Exercise Date (as defined below). 
 7. Interest. Interest will not be paid on any employee accounts, except to the extent that the
Board or the Committee, in its sole discretion, elects to credit employee accounts with interest at such rate as it may from time to time determine. 

8. Withdrawal of Funds. An employee may at any time prior to the close of business on the fifteenth business day prior to the end of a
Plan Period and for any reason permanently draw out the balance accumulated in the employee’s account and thereby withdraw from participation in an Offering. Partial withdrawals are not permitted. The employee may not begin participation again
during the remainder of the Plan Period during which the employee withdrew his or her balance. The employee may participate in any subsequent Offering in accordance with terms and conditions established by the Board or the Committee. 

9. Purchase of Shares. 

(a) Number of Shares. On the first day of each Plan Period, the Company will grant to each eligible employee who is then a participant
in the Plan an option (an “Option”) to purchase on the last business day of such Plan Period (the “Exercise Date”) at the applicable purchase price (the “Option Price”) up to a whole number of shares of Common Stock
determined by multiplying $2,083 by the number of full months in the Plan Period and dividing the result by the closing price (as determined below) on the first business day of such Plan Period; provided, however, that no employee may be granted an
Option which permits his or her rights to purchase Common Stock under this Plan and any other employee stock purchase plan (as defined in Section 423(b) of the Code) of the Company and its subsidiaries, to accrue at a rate which exceeds $25,000
of the fair market value of such Common Stock (determined at the date such Option is granted) for each calendar year in which the Option is outstanding at any time; and, provided, further, however, that the Committee may, in its discretion, set a
fixed maximum number of shares of Common Stock that each eligible employee may purchase per Plan Period which number may not be greater than the number of shares of Common Stock determined by using the formula in the first clause of this
Section 9(a) and which number shall be subject to the second clause of this Section 9(a). 
 (b) Option Price. The Board or
the Committee shall determine the Option Price for each Plan Period, including whether such Option Price shall be determined based on the lesser of the closing price of the Common Stock on (i) the first business day of the Plan Period or
(ii) the Exercise Date, or shall be based solely on the closing price of the Common Stock on the Exercise Date; provided, however, that in either case such Option Price shall be at least 85% of the applicable closing price. In the absence of a
determination by the Board or the Committee, the Option Price will be 85% of the lesser of the closing price of the Common Stock on (i) the first business day of the Plan Period or (ii) the Exercise Date. The closing price shall be
(a) the closing price (for the primary trading session) on any national securities exchange on which the Common Stock is listed or (b) the average of the closing bid and asked prices in the over-the-counter-market, whichever is applicable,
as reported on the applicable stock exchange or trading market or another source selected by the Board or the Committee. If no sales of Common Stock were made on such a day, the price of the Common Stock shall be the reported price for the next
preceding day on which sales were made. 
 (c) Exercise of Option. Each employee who continues to be a participant in the Plan on the
Exercise Date shall be deemed to have exercised his or her Option at the Option Price on such date and shall be deemed to have purchased from the Company the number of whole shares of Common Stock reserved for the purpose of the Plan that his or her
accumulated payroll deductions on such date will pay for, but not in excess of the maximum numbers determined in the manner set forth above. 

 (d) Return of Unused Payroll Deductions. Any balance remaining in an employee’s
payroll deduction account at the end of a Plan Period will be automatically refunded to the employee, except that any balance that is less than the purchase price of one share of Common Stock will be carried forward into the employee’s payroll
deduction account for the following Offering, unless the employee elects not to participate in the following Offering under the Plan, in which case the balance in the employee’s account shall be refunded. 

10. Issuance of Certificates. Certificates representing shares of Common Stock purchased under the Plan may be issued only in the name
of the employee, in the name of the employee and another person of legal age as joint tenants with rights of survivorship, or (in the Company’s sole discretion) in the name of a brokerage firm, bank, or other nominee holder designated by the
employee. The Company may, in its sole discretion and in compliance with applicable laws, authorize the use of book entry registration of shares in lieu of issuing stock certificates. 

11. Rights on Retirement, Death or Termination of Employment. If a participating employee’s employment ends before the last
business day of a Plan Period, no payroll deduction shall be taken from any pay then due and owing to the employee and the balance in the employee’s account shall be paid to the employee. In the event of the employee’s death before the
last business day of a Plan Period, the Company shall, upon notification of such death, pay the balance of the employee’s account (a) to the executor or administrator of the employee’s estate or (b) if no such executor or
administrator has been appointed to the knowledge of the Company, to such other person(s) as the Company may, in its discretion, designate. If, before the last business day of the Plan Period, the Designated Subsidiary by which an employee is
employed ceases to be a subsidiary of the Company, or if the employee is transferred to a subsidiary of the Company that is not a Designated Subsidiary, the employee shall be deemed to have terminated employment for the purposes of this Plan. 

12. Optionees Not Stockholders. Neither the granting of an Option to an employee nor the deductions from his or her pay shall make such
employee a stockholder of the shares of Common Stock covered by an Option under this Plan until he or she has purchased and received such shares. 

13. Options Not Transferable. Options under this Plan are not transferable by a participating employee other than by will or the laws
of descent and distribution, and are exercisable during the employee’s lifetime only by the employee. 
 14. Application of
Funds. All funds received or held by the Company under this Plan may be combined with other corporate funds and may be used for any corporate purpose. 

15. Adjustment for Changes in Common Stock and Certain Other Events. 

(a) Changes in Capitalization. In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of
shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of Common Stock other than an ordinary cash dividend, (i) the number and class of securities available
under this Plan, (ii) the share limitations set forth in Section 9, and (iii) the Option Price shall be equitably adjusted to the extent determined by the Board or the Committee. 

(b) Reorganization Events. 

(1) Definition. A “Reorganization Event” shall mean: (a) any merger or consolidation of the Company with or into another
entity as a result of which all of the Common Stock of the Company is converted into or exchanged for the right to receive cash, securities or other property or is cancelled, (b) any transfer or disposition of all of the Common Stock of the
Company for cash, securities or other property pursuant to a share exchange or other transaction or (c) any liquidation or dissolution of the Company. 

(2) Consequences of a Reorganization Event on Options. In connection with a Reorganization Event, the Board or the Committee may take
any one or more of the following actions as to outstanding Options on such terms as the Board or the Committee determines: (i) provide that Options shall be assumed, or substantially equivalent Options shall be substituted, by the acquiring or
succeeding corporation (or an affiliate thereof), (ii) upon written notice to employees, provide that all outstanding Options will be terminated immediately prior to the consummation of such Reorganization Event and that all such outstanding
Options will become exercisable to the extent of accumulated payroll deductions as of a date specified by the Board or the Committee in such notice, which date shall not be less than ten (10) days preceding the effective date of the
Reorganization Event, (iii) upon written 

 
notice to employees, provide that all outstanding Options will be cancelled as of a date prior to the effective date of the Reorganization Event and that all accumulated payroll deductions will
be returned to participating employees on such date, (iv) in the event of a Reorganization Event under the terms of which holders of Common Stock will receive upon consummation thereof a cash payment for each share surrendered in the
Reorganization Event (the “Acquisition Price”), change the last day of the Plan Period to be the date of the consummation of the Reorganization Event and make or provide for a cash payment to each employee equal to (A) (i) the
Acquisition Price times (ii) the number of shares of Common Stock that the employee’s accumulated payroll deductions as of immediately prior to the Reorganization Event could purchase at the Option Price, where the Acquisition Price is
treated as the fair market value of the Common Stock on the last day of the applicable Plan Period for purposes of determining the Option Price under Section 9(b) hereof, and where the number of shares that could be purchased is subject to the
limitations set forth in Section 9(a), minus (B) the result of multiplying such number of shares by such Option Price, (v) provide that, in connection with a liquidation or dissolution of the Company, Options shall convert into the
right to receive liquidation proceeds (net of the Option Price thereof) and (vi) any combination of the foregoing. 
 For purposes of
clause (i) above, an Option shall be considered assumed if, following consummation of the Reorganization Event, the Option confers the right to purchase, for each share of Common Stock subject to the Option immediately prior to the consummation
of the Reorganization Event, the consideration (whether cash, securities or other property) received as a result of the Reorganization Event by holders of Common Stock for each share of Common Stock held immediately prior to the consummation of the
Reorganization Event (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Common Stock); provided, however, that if the consideration received as a result
of the Reorganization Event is not solely common stock of the acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent of the acquiring or succeeding corporation, provide for the consideration to be received
upon the exercise of Options to consist solely of such number of shares of common stock of the acquiring or succeeding corporation (or an affiliate thereof) that the Board determines to be equivalent in value (as of the date of such determination or
another date specified by the Board) to the per share consideration received by holders of outstanding shares of Common Stock as a result of the Reorganization Event. 

16. Amendment of the Plan. The Board may at any time, and from time to time, amend or suspend this Plan or any portion thereof, except
that (a) if the approval of any such amendment by the stockholders of the Company is required by Section 423 of the Code, such amendment shall not be effected without such approval, and (b) in no event may any amendment be made that
would cause the Plan to fail to comply with Section 423 of the Code. 
 17. Insufficient Shares. If the total number of shares
of Common Stock specified in elections to be purchased under any Offering plus the number of shares purchased under previous Offerings under this Plan exceeds the maximum number of shares issuable under this Plan, the Board or the Committee will
allot the shares then available on a pro-rata basis. 
 18. Termination of the Plan. This Plan may be terminated at any time by the
Board. Upon termination of this Plan all amounts in the accounts of participating employees shall be promptly refunded. 
 19.
Governmental Regulations. The Company’s obligation to sell and deliver Common Stock under this Plan is subject to listing on a national stock exchange (to the extent the Common Stock is then so listed or quoted) and the approval of all
governmental authorities required in connection with the authorization, issuance or sale of such stock. 
 20. Governing Law. The
Plan shall be governed by Delaware law except to the extent that such law is preempted by federal law. 
 21. Issuance of Shares.
Shares may be issued upon exercise of an Option from authorized but unissued Common Stock, from shares held in the treasury of the Company, or from any other proper source. 

22. Notification upon Sale of Shares. Each employee agrees, by entering the Plan, to promptly give the Company notice of any
disposition of shares purchased under the Plan where such disposition occurs within two years after the date of grant of the Option pursuant to which such shares were purchased. 

23. Grants to Employees in Foreign Jurisdictions. The Company may, to comply with the laws of a foreign jurisdiction, grant Options to
employees of the Company or a Designated Subsidiary who are citizens or residents of such foreign jurisdiction (without regard to whether they are also citizens of the United States or resident aliens (within the meaning of
Section 7701(b)(1)(A) of the 

 
Code)) with terms that are less favorable (but not more favorable) than the terms of Options granted under the Plan to employees of the Company or a Designated Subsidiary who are resident in the
United States. Notwithstanding the preceding provisions of this Plan, employees of the Company or a Designated Subsidiary who are citizens or residents of a foreign jurisdiction (without regard to whether they are also citizens of the United States
or resident aliens (within the meaning of Section 7701(b)(1)(A) of the Code)) may be excluded from eligibility under the Plan if (a) the grant of an Option under the Plan to a citizen or resident of the foreign jurisdiction is prohibited
under the laws of such jurisdiction or (b) compliance with the laws of the foreign jurisdiction would cause the Plan to violate the requirements of Section 423 of the Code. The Company may add one or more appendices to this Plan describing
the operation of the Plan in those foreign jurisdictions in which employees are excluded from participation or granted less favorable Options. 

24. Authorization of Sub-Plans. The Board may from time to time establish one or more sub-plans under the Plan with respect to one or
more Designated Subsidiaries, provided that such sub-plan complies with Section 423 of the Code. 
 25. Withholding. If
applicable tax laws impose a tax withholding obligation, each affected employee shall, no later than the date of the event creating the tax liability, make provision satisfactory to the Board for payment of any taxes required by law to be withheld
in connection with any transaction related to Options granted to or shares acquired by such employee pursuant to the Plan. The Company may, to the extent permitted by law, deduct any such taxes from any payment of any kind otherwise due to an
employee. 
 26. Effective Date and Approval of Stockholders. The Plan shall take effect on June 12, 2014 subject to approval by
the stockholders of the Company as required by Section 423 of the Code, which approval must occur within twelve months of the adoption of the Plan by the Board. 

 

	
	Adopted by the Board of Directors on
	April 25, 2014
	
	Approved by the stockholders on
	June 12, 2014

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00234-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00234-of-00352.parquet"}]]