Document:

EX-10.2

 Exhibit 10.2 

LPL FINANCIAL HOLDINGS INC. 

2021 EMPLOYEE STOCK PURCHASE PLAN 
  

	1.	 Defined Terms 

Exhibit A, which is incorporated by reference, defines the terms used in the Plan and sets forth certain operational rules related to
those terms. 
  

	2.	 Purpose of Plan 

The Plan is intended to enable Eligible Employees to use payroll deductions to purchase shares of Stock in offerings under the Plan, and
thereby acquire an interest in the Company. The Plan is intended to qualify as an “employee stock purchase plan” under Section 423 and to be exempt from the application and requirements of Section 409A of the Code, and is to be
construed accordingly. 
  

	3.	 Options to Purchase Stock 

Subject to adjustment pursuant to Section 16 of the Plan, the maximum aggregate number of shares of Stock available
for purchase pursuant to the exercise of Options granted under the Plan will be 2,800,000 shares (the “Share Pool”). The shares of Stock to be delivered upon exercise of Options under the Plan may be either shares of authorized but
unissued Stock, treasury Stock, Stock acquired in an open-market transaction or previously issued Stock acquired by the Company. If any Option granted under the Plan expires or terminates for any reason without having been exercised in full or
ceases for any reason to be exercisable in whole or in part, the unpurchased shares of Stock subject to such Option will not reduce the Share Pool and will again be available for purchase under the Plan. If, on a Purchase Date, the total number of
shares of Stock that would otherwise be subject to Options granted under the Plan exceeds the number of shares then available in the Share Pool, the Administrator shall make a pro rata allocation of the shares remaining available for purchase under
the Plan in as uniform a manner as is practicable and as it determines to be equitable. In such event, the Administrator shall notify each Participant of such reduction and of the effect on the Participant’s Options and may reduce the rate of a
Participant’s payroll deductions, if necessary. 
  

	4.	 Eligibility 

(a) Eligibility Requirements. Subject to Section 13 of the Plan, and the exceptions and
limitations set forth in Section 4(b), Section 4(c) Section 4(d), and Section 6 of the Plan, or as may be provided elsewhere in the Plan or in
any sub-plan contemplated by Section 23, each Employee who is employed by the Company as of the first day of an applicable Enrollment Period will be an Eligible Employee. 

(b) Five Percent Shareholders. No Employee may be granted an Option under the Plan if, immediately after the Option is
granted, the Employee would own (or pursuant to Section 424(d) of the Code would be deemed to own) stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of its Parent or
Subsidiaries, if any. 

 (c) Officers. No Employee may be granted an Option under the Plan if
such Employee is subject to the disclosure requirements of Section 16(a) of the Securities Exchange Act of 1934, as amended, in accordance with Section 1.423-2(e)(ii) of the Treasury Regulations.

 (d) Additional Requirements. The Administrator may, for Offering Periods that have not yet commenced, establish
additional or other eligibility requirements, or amend the eligibility requirements set forth in Section 4(a) above, in each case, consistent with the requirements of Section 423. 

 

	5.	 Offering Periods 

The Plan will generally be implemented by a series of separate offerings referred to as “Offering Periods.” Unless otherwise
determined by the Administrator, the Offering Periods will be successive periods of approximately three (3) months and will commence on the first day of the payroll period occurring on or near February 10, May 19, August 11 and
November 3 of each year; provided, that the initial Offering Period under the Plan may commence on some other date, as the Administrator may specify. The first payroll date to occur following the end of each Offering Period will be a
“Purchase Date.” The Administrator may change the Purchase Date, the commencement date, the ending date and the duration of each Offering Period, in each case, to the extent permitted by Section 423; provided,
however, that no Option may be exercised after twenty-seven (27) months from its grant date. 
  

	6.	 Option Grant 

Subject to the requirements and limitations set forth in Sections 4 and 10 of the Plan and the Maximum Share
Limit, on the first day of an Offering Period, each Participant will automatically be granted an Option to purchase shares of Stock on the Purchase Date; provided, however, that no Participant will be granted an Option under the Plan
that permits the Participant’s right to purchase shares of Stock under the Plan and under all other employee stock purchase plans of the Company and its Parent and Subsidiaries, if any, to accrue at a rate that exceeds $25,000 in Fair Market
Value (or such other maximum as may be prescribed from time to time by the Code) for each calendar year during which any Option granted to such Participant is outstanding at any time, as determined in accordance with Section 423(b)(8) of the
Code. 
  

	7.	 Method of Participation 

(a) Payroll Deduction and Participation Authorization. Preceding each Offering Period there will be an Enrollment Period
specified by the Administrator, during which each Eligible Employee may elect to participate in the Plan by executing and delivering to the Administrator a payroll deduction and participation authorization form by the last day of the Enrollment
Period in accordance with the procedures prescribed by, and in a form acceptable to, the Administrator and, in so doing, the Eligible Employee will thereby become a Participant as of the first day of such Offering Period. Such an Eligible Employee
will remain a Participant with respect to subsequent Offering Periods until his or her participation in the Plan is terminated as provided herein. The Administrator may change the duration and timing of Enrollment Periods in its discretion. 

  
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 (b) Changes to Payroll Deduction Authorization for Subsequent Offering
Periods. A Participant’s payroll deduction authorization will remain in effect for subsequent Offering Periods unless the Participant files a new authorization with the Administrator during a subsequent Enrollment Period (or such other
time as specified by the Administrator) or the Participant’s Option is cancelled pursuant to Section 13 or Section 14 of the Plan. 

(c) Changes to Payroll Deduction Authorization for Current Offering Period. A Participant may, at any time up to fifteen
(15) days prior to the applicable Purchase Date, reduce his or her withholding rate for future payroll periods during an ongoing Offering Period by filing a new payroll deduction authorization with the Administrator, which will become
effective, to the extent administratively practicable, for the subsequent payroll period following receipt of such payroll deduction authorization by the Administrator. A Participant may terminate his or her payroll deduction authorization by
canceling his or her Option in accordance with Section 13 of the Plan. 
 (d) Payroll Deduction
Amount. Each payroll deduction authorization will authorize payroll deductions as a specific dollar amount, within a range specified by the Administrator prior to the applicable Offering Period, of the Participant’s Eligible
Compensation per payroll period. 
 (e) Payroll Deduction Account. All payroll deductions made pursuant to this
Section 7 will be credited to the Participant’s Account. Amounts credited to a Participant’s Account will not be required to be set aside in trust or otherwise segregated from the Company’s general assets.

  

	8.	 Method of Payment 

A Participant must pay for shares of Stock purchased under the Plan with accumulated payroll deductions credited to the Participant’s
Account. 
  

	9.	 Purchase Price 

The Purchase Price of shares of Stock issued pursuant to the exercise of an Option on each Purchase Date will be eighty-five percent (85%) (or
such greater percentage specified by the Administrator to the extent permitted under Section 423) of the lesser of (i) the Fair Market Value of a share of Stock on the date on which the Option was granted pursuant to
Section 6 of the Plan (i.e., the first day of the Offering Period) and (ii) the Fair Market Value of a share of Stock on the date on which the Option is deemed exercised pursuant to Section 10
of the Plan (i.e., the Purchase Date). 
  

	10.	 Exercise of Options 

(a) Purchase of Shares. Subject to the limitations set forth in Section 6 of the Plan and this
Section 10, with respect to each Offering Period, on the applicable Purchase Date, each Participant will be deemed to have exercised his or her Option and the accumulated payroll deductions in the Participant’s Account
will be applied to purchase the greatest number of shares of Stock that can be purchased with such Account balance at the applicable Purchase Price (which may include a fractional share); provided, however, that no more than one
hundred (100) shares of Stock may be purchased by a Participant on any Purchase Date, or such other number as the Administrator may prescribe in accordance with Section 423 (the “Maximum Share Limit”). As soon as
practicable thereafter, shares of Stock so purchased will be placed, in book-entry form, into a record keeping account in the name of the Participant. 

  
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 (b) Return of Account Balance. Any accumulated amount of payroll
deductions in a Participant’s Account for an Offering Period that are not used for the purchase of shares of Stock, whether because of the Participant’s withdrawal from participation in an Offering Period or for any other reason, will be
returned to the Participant (or his or her designated beneficiary or legal representative, as applicable), without interest, as soon as administratively practicable after such withdrawal or other event, as applicable. If the Participant’s
accumulated payroll deductions on the Purchase Date of an Offering Period would otherwise enable the Participant to purchase shares of Stock in excess of the Maximum Share Limit or the maximum Fair Market Value set forth in
Section 6 of the Plan, the excess of the amount of the accumulated payroll deductions over the aggregate Purchase Price of the shares of Stock actually purchased will be returned to the Participant, without interest, as
soon as administratively practicable after such Purchase Date. 
  

	11.	 Interest 

No interest will accrue or be payable on any amount held in the Account of any Participant. 

 

	12.	 Taxes 

Payroll deductions will be made on an after-tax basis. The Administrator will have the right to make
such provision as it deems necessary for, and may condition the exercise of an Option on, the satisfaction of its obligations to withhold federal, state, local income or other taxes incurred by reason of the purchase or disposition of shares of
Stock under the Plan. In the Administrator’s discretion and subject to applicable law, such tax obligations may be satisfied in whole or in part by delivery of shares of Stock to the Company, including shares of Stock purchased under the Plan,
valued at Fair Market Value, but not in excess of the maximum withholding amount consistent with the award being subject to equity accounting treatment under the Accounting Rules. The Administrator may, to the extent permitted by law, deduct any tax
obligations from any payment of any kind due to the Participant. 
  

	13.	 Cancellation and Withdrawal 

A Participant who has been granted an Option under the Plan may cancel all (but not less than all) of such Option and terminate his or her
participation in the Plan by notice to the Administrator in accordance with the procedures prescribed by, and in a form acceptable to, the Administrator. To be effective with respect to an upcoming Purchase Date, such cancellation notice must be
delivered not later than fifteen (15) calendar days prior to such Purchase Date (or such other time as specified by the Administrator). Upon such termination and cancellation, the balance in the Participant’s Account will be returned to
the Participant, without interest, as soon as administratively practicable thereafter. For the avoidance of doubt, a Participant who reduces his or her withholding rate for a future Offering Period to zero pursuant to
Section 7 of the Plan will be deemed to have terminated his or her payroll deduction authorization and canceled his or her participation in the Plan as to such Offering Period and all future Offering Periods, unless the
Participant delivers a new payroll deduction authorization for a subsequent Offering Period in accordance with the rules of Section 7 of the Plan. 

  
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	14.	 Termination of Employment; Death of Participant 

Upon the termination of a Participant’s employment with the Company or a Designated Subsidiary, as applicable, for any reason (including
the death of a Participant during an Offering Period prior to an Purchase Date) or in the event the Participant ceases to qualify as an Eligible Employee, the Participant will cease to be a Participant, any Option held by the Participant under the
Plan will be canceled, the balance in the Participant’s Account will be returned to the Participant (or his or her estate or designated beneficiary in the event of the Participant’s death), without interest, as soon as administratively
practicable thereafter, and the Participant will have no further rights under the Plan. 
  

	15.	 Equal Rights; Participant’s Rights Not Transferable 

All Participants granted Options in an offering under the Plan will have the same rights and privileges, consistent with the requirements set
forth in Section 423. Any Option granted under the Plan will be exercisable during the Participant’s lifetime only by him or her and may not be sold, pledged, assigned, or transferred in any manner. In the event any Participant violates or
attempts to violate the terms of this Section 15, as determined by the Administrator in its sole discretion, any Options granted to the Participant under the Plan may be terminated by the Company and, upon the return to the
Participant of the balance of his or her Account, without interest, all of the Participant’s rights under the Plan will terminate. 
  

	16.	 Change in Capitalization; Corporate Transaction 

(a) Change in Capitalization. In the event of a stock dividend, stock split or combination of shares (including a reverse
stock split), recapitalization or other change in the Company’s capital structure that constitutes an equity restructuring within the meaning of the Accounting Rules, the Administrator shall make appropriate adjustments to the aggregate number
and type of shares of stock available under the Plan, the number and type of shares of stock granted under any outstanding Options, the maximum number and type of shares of stock purchasable under any outstanding Option, and/or the Purchase Price
under any outstanding Option, in any case, in a manner that complies with Section 423. 
 (b) Corporate
Transaction. In the event of a sale of all or substantially all of the Stock or a sale of all or substantially all of the assets of the Company, or a merger or similar transaction in which the Company is not the surviving corporation or that
results in the acquisition of the Company by another person, the Administrator may, in its discretion, (i) if the Company is merged with or acquired by another corporation, provide that each outstanding Option will be assumed or exchanged for a
substitute Option granted by the acquiror or successor corporation or by a parent or subsidiary of the acquiror or successor corporation; (ii) cancel each outstanding Option and return the balances in Participants’ Accounts to the
Participants; and/or (iii) pursuant to Section 18 of the Plan, terminate the Offering Period on or before the date of the proposed sale, merger or similar transaction. 

  
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	17.	 Administration 

The Plan will be administered by the Administrator. The Administrator has discretionary authority, subject only to the express provisions of
the Plan, to administer and interpret the Plan; to determine eligibility under the Plan; to prescribe forms, rules and procedures relating to the Plan; and to otherwise do all things necessary or desirable to carry out the purposes of the Plan.
Determinations of the Administrator made with respect to the Plan are conclusive and bind all persons. 
 The Administrator may specify the
manner in which the Company and/or Employees are to provide notices and forms under the Plan, and may require that such notices and forms be submitted electronically. 
  

	18.	 Amendment and Termination of Plan 

(a) Amendment. The Administrator reserves the right at any time or times to amend the Plan to any extent and in any manner
it may deem advisable; provided, however, that any amendment that would be treated as the adoption of a new plan for purposes of Section 423 will have no force or effect unless approved by the shareholders of the Company within
twelve (12) months before or after its adoption. 
 (b) Termination. The Administrator reserves the right
at any time or times to suspend or terminate the Plan. In connection therewith, the Administrator may provide, in its sole discretion, either that outstanding Options will be exercisable on the Purchase Date for the applicable Offering Period or on
such earlier date as the Administrator may specify (in which case such earlier date will be treated as the Purchase Date for the applicable Offering Period), or that the balance of each Participant’s Account will be returned to the Participant,
without interest. 
  

	19.	 Approvals 

Shareholder approval of the Plan will be obtained prior to the date that is twelve (12) months after the date of Board approval. In the
event that the Plan has not been approved by the shareholders of the Company prior to February 11, 2022, all Options to purchase shares of Stock under the Plan will be cancelled and become null and void. 

Notwithstanding anything herein to the contrary, the obligation of the Company to issue and deliver shares of Stock under the Plan will be
subject to the approval required of any governmental authority in connection with the authorization, issuance, sale or transfer of such shares of Stock and to any requirements of any national securities exchange applicable thereto, and to compliance
by the Company with other applicable legal requirements in effect from time to time. 
  

	20.	 Participants’ Rights as Shareholders and Employees 

A Participant will have no rights or privileges as a shareholder of the Company and will not receive any dividends in respect of any shares of
Stock covered by an Option granted hereunder until such Option has been exercised, full payment has been made for such shares, and the shares have been issued to the Participant. 

  
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 Nothing contained in the provisions of the Plan will be construed as giving to any Employee
the right to be retained in the employ of the Company or any Designated Subsidiary or as interfering with the right of the Company or any Designated Subsidiary to discharge, promote, demote or otherwise
re-assign any Employee from one position to another within the Company or any Designated Subsidiary at any time. 
  

	21.	 Restrictions on Transfer; Information Regarding Disqualifying Dispositions. 

(a) Restrictions on Transfer. All shares of Stock purchased under the Plan will be subject to a restriction prohibiting
the transfer of such shares of Stock from the account where such shares of Stock are initially held until such shares are sold through the Plan’s custodian and record keeper. Shares of Stock purchased under the Plan may, in the discretion of
the Administrator, be subject to additional restrictions prohibiting the transfer, sale, pledge or alienation of such shares of Stock by a Participant, other than by will or by the laws of descent and distribution, for such period following such
purchase as may be determined by the Administrator. 
 (b) Disqualifying Dispositions. By electing to participate in
the Plan, each Participant agrees to provide such information about any transfer of Stock acquired under the Plan that occurs within two (2) years after the first day of the Offering Period in which such Stock was acquired and within one
(1) year after the day such Stock was purchased as may be requested by the Company or any Designated Subsidiary in order to assist it in complying with applicable tax laws. 

 

	22.	 Miscellaneous 

(a) Waiver of Jury Trial. By electing to participate in the Plan, each Participant waives (or will be deemed to have
waived), to the maximum extent permitted under applicable law, any right to a trial by jury in any action, proceeding or counterclaim concerning any rights under the Plan or with respect to any Option, or under any amendment, waiver, consent,
instrument, document or other agreement delivered or which in the future may be delivered in connection therewith, and agrees (or will be deemed to have agreed) that any such action, proceedings or counterclaim will be tried before a court and not
before a jury. By electing to participate in the Plan, each Participant certifies that no officer, representative, or attorney of the Company has represented, expressly or otherwise, that the Company would not, in the event of any action, proceeding
or counterclaim, seek to enforce the foregoing waivers. Notwithstanding anything to the contrary in the Plan, nothing herein is to be construed as limiting the ability of the Company and a Participant to agree to submit any dispute arising under the
terms of the Plan or in respect of any Option to binding arbitration or as limiting the ability of the Company to require any individual to agree to submit such disputes to binding arbitration as a condition of receiving an Option hereunder. 

(b) Limitation of Liability. Notwithstanding anything to the contrary in the Plan, neither the Company, nor any of its
subsidiaries, nor the Administrator, nor any person acting on behalf of the Company, any of its subsidiaries, or the Administrator, will be liable to any Participant, to any permitted transferee, to the estate or beneficiary of any Participant or
any permitted transferee, or to any other person by reason of any acceleration of income, any additional tax, or any penalty, interest or other liability asserted by reason of the failure of the Plan or any Option to satisfy the requirements of
Section 423, or otherwise asserted with respect to the Plan or any Option. 

  
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 (c) Unfunded Plan. The Company’s obligations under the Plan are
unfunded, and no Participant will have any right to specific assets of the Company in respect of any Option. Participants will be general unsecured creditors of the Company with respect to any amounts due or payable under the Plan. 

 

	23.	 Establishment of Sub-Plans 

Notwithstanding the foregoing or any provision of the Plan to the contrary, consistent with the requirements of Section 423, the
Administrator may, in its sole discretion, amend the terms of the Plan, or an offering and/or provide for separate offerings under the Plan in order to, among other things, reflect the impact of local law outside of the United States as applied to
one or more Eligible Employees of a Designated Subsidiary and may, where appropriate, establish one or more sub-plans to reflect such amended provisions. 

 

	24.	 Governing Law 

(a) Certain Requirements of Corporate Law. Options and shares of Stock will be granted, issued and administered consistent
with the requirements of applicable Delaware law relating to the issuance of stock and the consideration to be received therefor, and with the applicable requirements of the stock exchanges or other trading systems on which the Stock is listed or
entered for trading, in each case as determined by the Administrator. 
 (b) Other Matters. Except as otherwise
provided by the express terms of a sub-plan described in Section 23 or as provided in Section 24(a), the domestic substantive laws of the State of Delaware
govern the provisions of the Plan and of Options under the Plan and all claims or disputes arising out of or based upon the Plan or any Option or relating to the subject matter hereof or thereof without giving effect to any choice or conflict of
laws provision or rule that would cause the application of the domestic substantive laws of any other jurisdiction. 
 (c)
Jurisdiction. By electing to participate in the Plan, each Participant agrees or will be deemed to have agreed to (i) submit irrevocably and unconditionally to the jurisdiction of the federal and state courts located within the
geographic boundaries of the United States District Court for the District of Delaware for the purpose of any suit, action or other proceeding arising out of or based upon the Plan or any Option; (ii) not commence any suit, action or other
proceeding arising out of or based upon the Plan or any Option, except in the federal and state courts located within the geographic boundaries of the United States District Court for the District of Delaware; and (iii) waive, and not assert,
by way of motion as a defense or otherwise, in any such suit, action or proceeding, any claim that he or she is not subject personally to the jurisdiction of the above-named courts that his or her property is exempt or immune from attachment or
execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that the Plan or any Option or the subject matter thereof may not be enforced in or by such court.

  
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	25.	 Effective Date and Term 

The Plan will become effective upon adoption of the Plan by the Board and no rights will be granted hereunder after the earliest to occur of
(i) the Plan’s termination by the Company; (ii) the issuance of all shares of Stock available for issuance under the Plan; and (iii) the day before the ten- (10) year anniversary of
the date the Board approves the Plan. 
 * * * * 

  
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 Exhibit A 

DEFINED TERMS 
 The
following terms, when used in the Plan, have the meanings and are subject to the provisions set forth below: 
 “401(k)
Plan”: A savings plan qualifying under Section 401(k) of the Code that is sponsored by the Company or one of its Subsidiaries for the benefit of its employees. 

“Account”: A notional payroll deduction account maintained in the Participant’s name on the books of the Company. 

“Accounting Rules”: Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor
provision. 
 “Administrator”: The Compensation and Human Resources Committee of the Board, except that such Committee may
delegate its authority under the Plan to a sub-committee comprised of one or more of its members, to members of the Board, or to officers or employees of the Company to the extent permitted by applicable law.
In each case, references herein to the Administrator refer, as applicable, to such persons or groups so delegated to the extent of such delegation. 

“Board”: The Board of Directors of the Company. 

“Code”: The U.S. Internal Revenue Code of 1986, as from time to time amended and in effect, or any successor statute as from
time to time in effect, including any applicable regulations and guidance thereunder. 
 “Company”: LPL Financial Holdings
Inc., a Delaware corporation. 
 “Designated Subsidiary”: A Subsidiary of the Company that has been designated by the Board
or the Compensation and Human Resources Committee of the Board from time to time as eligible to participate in the Plan. A list of Designated Subsidiaries as of the date the Plan has been approved by the Board is set forth on Annex A. For the
avoidance of doubt, any Subsidiary of the Company, whether or not a Subsidiary on the Effective Date, shall be eligible to be designated as a Designated Subsidiary hereunder. 

“Effective Date”: The date set forth in Section 25 of the Plan. 

“Eligible Compensation”: Regular base salary, regular base wages and overtime payments (excluding, for the avoidance of
doubt, any bonus, commission or sales incentive payments or long-term or equity-based incentive payments or awards). Eligible Compensation will not be reduced by any income or employment tax withholdings or any contributions by the Employee to a
401(k) Plan or a plan under Section 125 of the Code, but will be reduced by any contributions made on the Employee’s behalf by the Company or any Subsidiary to any deferred compensation plan or welfare benefit program now or hereafter
established. 

 “Eligible Employee”: Any Employee who meets the eligibility requirements
set forth in Section 4 of the Plan. 
 “Employee”: Any person who is employed by the Company or a
Designated Subsidiary. For the avoidance of doubt, independent contractors and consultants are not “Employees.” 

“Enrollment Period”: An enrollment period established in accordance with Section 7(a) of the Plan.

 “Fair Market Value”: 

(i) If the Stock is readily traded on an established national exchange or trading system (including the Nasdaq Stock Market),
the closing price of a share of Stock as reported by the principal exchange on which such Stock is traded; provided, however, that if such day is not a trading day, Fair Market Value will mean the reported closing price of a share of
Stock for the immediately preceding day that is a trading day. 
 (ii) If the Stock is not traded on an established national
exchange or trading system, the average of the bid and ask prices for shares Stock where the bid and ask prices are quoted. 

(iii) If the Stock cannot be valued pursuant to clauses (i) or (ii), the value as determined in good faith by the Board in
its sole discretion. 
 “Maximum Share Limit”: The meaning set forth in Section 10 of the Plan.

 “Offering Period”: An offering period established in accordance with Section 5 of the Plan.

 “Option”: An option granted pursuant to the Plan entitling the holder to acquire shares of Stock upon payment of the
Purchase Price per share of Stock. 
 “Parent”: A “parent corporation” as defined in Section 424(e) of the
Code. 
 “Participant”: An Eligible Employee who elects to participate in an Offering Period under the Plan. 

“Plan”: The LPL Financial Holdings Inc. 2021 Employee Stock Purchase Plan, as from time to time amended and in effect. 

“Purchase Date”: The date set forth in Section 5 of the Plan or otherwise designated by the
Administrator with respect to a particular Offering Period on which a Participant will be deemed to have exercised the Option granted to him or her for such Offering Period. 

“Purchase Price”: The price per share of Stock with respect to an Offering Period determined in accordance with
Section 9 of the Plan. 
 “Section 423”: Section 423 of the Code and the
regulations thereunder. 
 “Stock”: Common stock of the Company, par value $0.001 per share. 

“Subsidiary”: A “subsidiary corporation” as defined in Section 424(f) of the Code. 

  
 A-2 

 Annex A 

DESIGNATED SUSIDIARIES 

Allen & Company of Florida, LLC 

LPL Employee Services, LLC 
 LPL
Financial LLC 
 The Private Trust Company, N.A.ttgt-ex101_395.htm

Exhibit 10.1

 

FOURTH AMENDMENT TO LEASE

THIS FOURTH AMENDMENT TO LEASE (this “Fourth Amendment”) is made as of April 30, 2021 (the “Effective Date”), by and between ARE-MA REGION NO. 76, LLC, a Delaware limited liability company (“Landlord”), and TECH TARGET, INC., a Delaware corporation (“Tenant”).

RECITALS

	
A.
	
Landlord (as successor-in-interest to Hines Global REIT Riverside Center, LLC) and Tenant are now parties to that certain Lease Agreement dated as of August 4, 2009 (the “Original Lease”), as amended by that certain First Amendment dated as of November 18, 2010, as further amended by that certain Second Amendment dated as of July 23, 2015, and as further amended by that certain Third Amendment dated as of October 26, 2017 (the “Third Amendment”) (as amended, the “Lease”).  Pursuant to the Lease, Tenant leases certain “Premises” consisting of approximately 73,692 rentable square feet on the first and second floors of that certain building located at 275 Grove Street, Newtown, Massachusetts (the “Building”).  The Premises are more particularly described in the Lease.  Capitalized terms used herein without definition shall have the meanings defined for such terms in the Lease.

	
B.
	
Landlord and Tenant desire, subject to the terms and conditions set forth below, to amend the Lease to, among other things, reflect the termination of the Lease with respect to that certain portion of the Premises containing approximately 5,678 rentable square feet on the first floor of the Building located in a portion of Suite 1-150, as more particularly shown on Exhibit A attached hereto (the “Fourth Amendment Reduction Premises”).

NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:

	
1.
	
Return of Fourth Amendment Reduction Premises.  The Lease with respect to the Fourth Amendment Reduction Premises shall terminate on the later of June 30, 2021 or the date that the Relocation Improvements (as hereinafter defined) have been substantially completed except for punchlist items which do not materially impact Tenant’s ability to conduct business in the Premises (“Substantial Completion”); provided, however, Landlord shall be permitted to accelerate such termination of the Lease with respect to the Fourth Amendment Reduction Premises to a date prior to June 30, 2021, upon (i) Substantial Completion of the Relocation Improvements and (ii) written notice delivered by Landlord to Tenant (such termination date, as may be accelerated, is referred to herein as the “Fourth Amendment Reduction Date”). Tenant shall voluntarily surrender the Fourth Amendment Reduction Premises on such date in accordance with all surrender requirements contained in the Lease and in the condition in which Tenant is required to surrender the Premises as of the expiration of the Lease.  From and after the Fourth Amendment Reduction Date, Tenant shall have no further rights of any kind with respect to the Fourth Amendment Reduction Premises.  Notwithstanding the foregoing, those provisions of the Lease which, by their terms, survive the termination of the Lease shall survive the surrender of the Fourth Amendment Reduction Premises and termination of the Lease with respect to the Fourth Amendment Reduction Premises as provided for herein.  Nothing herein shall excuse Tenant from its obligations under the Lease with respect to the Fourth Amendment Reduction Premises prior to the Fourth Amendment Reduction Date.

	
2.
	
Lease Termination Payment.  The parties are entering into this Fourth Amendment as a result of Landlord’s desire to lease the Fourth Amendment Reduction Premises (along with other space in the Building) to a new tenant (the “New Tenant”).  As consideration for Tenant entering into this Fourth Amendment, Landlord hereby agrees to pay Tenant a lease termination payment in the amount of $577,987.50 within 45 days after the Effective Date.

740329028.10

 

	
3.
	
Defined Terms.  Commencing on the calendar day immediately following the Fourth Amendment Reduction Date (the “Fourth Amendment Adjustment Date”), the defined terms “Building,” “Premises Rentable Area,” and “Tenant’s Pro Rata Share,” which are defined in the Lease, shall be deleted in their entirety and replaced with the following:

“Building:  The building located at 275 Grove Street, Newton, Massachusetts 02466, and commonly known as Riverside Center, consisting of approximately 509,702 rentable square feet.”

“Premises Rentable Area:  Approximately 68,014 rentable square feet located in One Riverside Center, of which approximately (i) 8,849 rentable square feet are located in Suite 1-150 on the first floor, (ii) 44,962 rentable square feet are located in Suite 1-200 on the second floor, and (iii) 14,203 rentable square feet are located in Suite 1-205 on the second floor.”

“Tenant’s Pro Rata Share:  13.34%”

	
4.
	
Premises.  As of the Fourth Amendment Adjustment Date, the depiction of the Premises as shown on Exhibit A, Third Amendment attached to the Third Amendment shall be deleted in its entirety and replaced with the depiction of the Premises as shown on Exhibit B attached to this Fourth Amendment.

	
5.
	
Basic Rent.  Commencing on the Effective Date, notwithstanding anything to the contrary contained in the Lease, Tenant’s obligation to pay Basic Rent shall only apply with respect to the remaining Premises, and Tenant shall no longer be required to pay Basic Rent with respect to the Fourth Amendment Reduction Premises.  Therefore, commencing on the Effective Date, Tenant’s obligation to pay Basic Rent is hereby modified as set forth below. If there is an overpayment due to Tenant’s pre-payment of rent then Landlord shall either (i) refund to Tenant the amount thereof within thirty (30) days or (ii) instruct Tenant to deduct the amount thereof from the next monthly rental payments.

				
	
Period
	
Annual Basic Rent
	
Monthly Basic Rent
	
Basic Rent Per Rentable Square Foot

	
1/1/21 – 12/31/21
	
$3,060,630.00
	
$255,052.50
	
$45.00

	
1/1/22 – 12/31/22
	
$3,128,644.00
	
$260,720.33
	
$46.00

	
1/1/23 – 12/31/23
	
$3,128,644.00
	
$260,720.33
	
$46.00

	
1/1/24 – 12/31/24
	
$3,196,658.00
	
$266,388.17
	
$47.00

	
1/1/25 – 12/31/25
	
$3,196,658.00
	
$266,388.17
	
$47.00

	
1/1/26 – 12/31/26
	
$3,264,672.00
	
$272,056.00
	
$48.00

	
1/1/27 – 12/31/27
	
$3,264,672.00
	
$272,056.00
	
$48.00

	
1/1/28 – 12/31/28
	
$3,332,686.00
	
$277,723.83
	
$49.00

	
1/1/29 – 12/31/29
	
$3,332,686.00
	
$277,723.83
	
$49.00

 

	
6.
	
Expense Excess and Tax Excess.  Commencing on the Effective Date, notwithstanding anything to the contrary contained in the Lease, Tenant shall no longer be required to pay Tenant’s Pro Rata 

740329028.102

 

		
Share of the Expense Excess or the Tax Excess attributable to the Fourth Amendment Reduction Premises.

	
7.
	
Parking.  Commencing on the Fourth Amendment Adjustment Date, Section IV of the Third Amendment shall be deleted in its entirety and replaced with the following:

“Parking.  Commencing on the Fourth Amendment Adjustment Date, the definition of “Parking Space” under Section 1.2 of the Lease shall be 204 parking spaces, subject to the terms of Section 2.2 of the Lease.  Parking Spaces shall be allocated as follows: 204 parking spaces of which (i) 25 parking spaces shall be within the executive parking area under Building One, (ii) 137 parking spaces shall be in the exterior parking garage, and (iii) 42 parking spaces shall be located on the surface lot, all on a non-exclusive, first-come, first-served basis, and in accordance with the provisions of Exhibit G-1 to the Original Lease. Landlord shall have the right to reduce Tenant’s number of parking spaces in the executive parking area to 19 spaces with 30 days’ notice to Tenant, in which case, Tenant shall be allotted 141 parking spaces in the exterior garage and 44 parking spaces on the surface lot.” 

	
8.
	
Relocation Improvements.  Landlord shall be responsible, at Landlord’s sole cost and expense, for  constructing approximately 6 new offices within the Premises, relocating offices and desks to the second floor of the Premises, and performing such other work, relocations, and improvements in accordance with detailed plans and specifications and pursuant to the scope of work set forth on Exhibit C attached hereto (the “Relocation Improvements”), and for moving and relocating all of Tenant’s belongings as may be required pursuant to this Fourth Amendment, including Tenant’s belongings from the Fourth Amendment Reduction Premises to the remaining Premises. Any changes made by Landlord to the Relocation Improvement plans and specifications set forth on Exhibit C attached hereto will be subject to Tenant’s review and approval, which shall not be unreasonably withheld, conditioned, delayed, or denied. For avoidance of doubt, any necessary work to facilitate the Relocation Improvements, such as with respect to HVAC, electricity, wiring and cabling, shall be at Landlord’s sole cost and expense.  Furthermore, Landlord shall use materials and finishes to match the existing improvements within the Premises.  Tenant acknowledges and agrees that following the Effective Date, Landlord will require access to portions of the Premises in order to perform the Relocation Improvements.  Landlord and its contractors and agents shall have the right to enter the Premises to perform the Relocation Improvements, and Tenant shall cooperate with Landlord in connection with same.  Landlord shall schedule all access in advance with the Tenant and have a representative of Landlord accompany any contractors or other visitors when they are in the Premises during the period commencing on the Effective Date through the Fourth Amendment Reduction Date. Landlord shall use reasonable efforts to coordinate the Relocation Improvement’s with Tenant’s schedule to minimize disruption to Tenant’s business operations; provided, however, Tenant acknowledges that Landlord’s performance of the Relocation Improvements may adversely affect Tenant’s use and occupancy of the Premises. Tenant waives all claims against Landlord for rent abatement in connection with the Relocation Improvements.  Landlord agrees to cause the contractor performing the Relocation Improvements to name Tenant as an additional insured on such contractor’s liability insurance policy maintained in connection with the Relocation Improvements.

	
9.
	
Relocation of Storage Spaces.  Commencing on the Fourth Amendment Adjustment Date, Landlord shall relocate the storage area and Tenant’s belongings from the “Dock Storage Space” referenced in Section 7.4(a) of the Original Lease, to approximately 228 rentable square feet in the garage, known as Suite P-005, as more particularly shown on Exhibit D attached hereto (the “Garage Storage Space”). Commencing on the Fourth Amendment Adjustment Date, Tenant shall discontinue paying monthly rent for the Dock Storage Space and shall begin paying monthly rent for the Garage Storage Space at the rate of $10.00 per rentable square foot per year.  Tenant shall lease the Garage Storage Space on a month-to-month basis, terminable upon 90 days’ prior written notice to Landlord.

740329028.103

 

	
10.
	
Special Permit.  In accordance with the requirements of the Special Permit/Site Plan Approval affecting the Building, Tenant shall use best reasonable efforts to recycle all materials used in Tenant’s operations and in any event comply with any recycling program implemented by Landlord at the Building.

	
11.
	
OFAC.  Tenant and, to Tenant’s knowledge, all beneficial owners of Tenant are currently (a) in compliance with and shall at all times during the Term of the Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute, executive order, or regulation relating thereto (collectively, the “OFAC Rules”), (b) not listed on, and shall not during the Term of the Lease be listed on, the Specially Designated Nationals and Blocked Persons List maintained by OFAC and/or on any other similar list maintained by OFAC or other governmental authority pursuant to any authorizing statute, executive order, or regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business under the OFAC Rules.

	
12.
	
Brokers.  Landlord and Tenant each represents and warrants that it has not dealt with any broker, agent or other person (collectively, “Broker”) in connection with the transaction reflected in this Fourth Amendment and that no Broker brought about this Fourth Amendment, other than Colliers International (representing Tenant). Notwithstanding anything to the contrary contained herein, Landlord shall not be responsible for any commission or other form of compensation to Colliers International in connection with this Fourth Amendment.  Landlord and Tenant each hereby agree to indemnify and hold the other harmless from and against any claims by any Broker claiming a commission or other form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this Fourth Amendment.

	
13.
	
Miscellaneous.

a.This Fourth Amendment is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreements and discussions.  This Fourth Amendment may be amended only by an agreement in writing, signed by the parties hereto.

b.This Fourth Amendment is binding upon and shall inure to the benefit of the parties hereto, their respective agents, employees, representatives, officers, directors, divisions, subsidiaries, affiliates, assigns, heirs, successors in interest and shareholders.

c.This Fourth Amendment may be executed in 2 or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature process complying with the U.S. federal ESIGN Act of 2000) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.  Electronic signatures shall be deemed original signatures for purposes of this Fourth Amendment and all matters related thereto, with such electronic signatures having the same legal effect as original signatures.

d.Except as amended and/or modified by this Fourth Amendment, the Lease is hereby ratified and confirmed and all other terms of the Lease shall remain in full force and effect, unaltered and unchanged by this Fourth Amendment.  In the event of any conflict between the provisions of this Fourth Amendment and the provisions of the Lease, the provisions of this Fourth Amendment shall prevail.  Whether or not specifically amended by this Fourth Amendment, all of the terms and provisions of the Lease are hereby amended to the extent necessary to give effect to the purpose and intent of this Fourth Amendment.

[Signatures on following page]

740329028.104

 

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

TENANT:

 

TECH TARGET, INC.,

a Delaware corporation

 

 

 

By: /s/ Daniel T. Noreck 

Its: CFO

 

 

 

LANDLORD:

 

ARE-MA REGION NO. 76, LLC,

a Delaware limited liability company

 

	
 
	

	
By:ALEXANDRIA REAL ESTATE EQUITIES, L.P.,

a Delaware limited partnership,

managing member

 

	
 
	

	
By:ARE-QRS CORP.,

a Maryland corporation,

	
 
	

	
general partner

	
 
	

	
By:/s/ Allison Grochola                    .

	
 
	

	
Its: Senior Vice President RE Legal Affairs

 

 

740329028.105

 

 

Exhibit A

 

Fourth Amendment Reduction Premises

 

 

740329028.10

 

 

Exhibit B

 

Depiction of the Premises as of the 

Fourth Amendment Adjustment Date

 

 

740329028.10

 

 

Exhibit C

 

Scope of Work

 

740329028.10

 

 

Exhibit D

 

Garage Storage Space

 

(Highlighted area is Garage Storage Space)

 

 

740329028.10

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